What changed in this filing

/stocks — the workspaceLOADING

Item 5. Market for Registrant’s Common Equity

2026-03-31 compared with 2025-04-15 · 11 added, 185 removed, 16 unchanged (92% of the section changed)

MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

of our common stock, $0.001 par value per share, began trading on the Nasdaq Capital Markets under the symbol “BOF” on June

The following table sets forth, for the fiscal quarters indicated, the high and low bid information for our common stock, as reported

The following table sets forth, for the fiscal quarters indicated, the high and low bid prices for our common stock, as reported

on the Nasdaq Capital Markets.

11 unchanged sentences

Fourth Quarter

of April 5, 2025, there were 9,584,769 shares of common stock outstanding held by approximately 25 shareholders of record.

does not include any shareholders holding shares in nominee or “street name”.

have not declared or paid any dividends on our common stock since our inception and do not anticipate paying dividends for the foreseeable

The payment of dividends is subject to the discretion of our board of directors and depends, among other things, upon our earnings,

our capital requirements, our financial condition, and other relevant factors.

We intend to reinvest any earnings in the development

and expansion of our business.

Any cash dividends in the future to common shareholders will be payable when, as and if declared by our

board of directors, based upon the board’s assessment of our financial condition and performance, earnings, need for funds, capital

requirements, prior claims of preferred stock to the extent issued and outstanding, and other factors, including income tax consequences,

restrictions and applicable laws.

There can be no assurance, therefore, that any dividends on our common stock will ever be paid.

Equity Compensation

Plan Information

following table provides information about shares our common stock that may be issued under our options outstanding at December 31,

Other than individual options outstanding reflected in the table below, we did not have any shares authorized for issuance under

equity plans at December 31, 2024.

Plan category

of securities to be issued upon exercise of outstanding options, warrants and rights

Weighted-average

exercise price of outstanding options, warrants and rights

of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))

Equity compensation plans approved

by security holders

Equity compensation plans

not approved by security holders (1)

Represents warrants issued on June 21, 2023 to the underwriter in the Company’s IPO, and warrants issued on June 26, 2024

to underwriter in our follow-on public offering.

Equity Incentive Plan

board of directors and stockholders adopted the 2022 Equity Incentive Plan as of January 1, 2022, which provides for the grant of incentive

stock options and non-qualified stock options to purchase shares of our common stock and other types of awards.

The general purpose of

the 2022 Equity Incentive Plan is to provide a means whereby eligible employees, officers, non-employee directors and other individual

service providers develop a sense of proprietorship and personal involvement in our development and financial success, and to encourage

them to devote their best efforts to our business, thereby advancing our interests and the interests of our stockholders.

the 2022 Equity Incentive Plan, we seek to retain the services of such eligible persons and to provide incentives for such persons to

exert maximum efforts for our success and the success of our subsidiaries.

of the 2022 Equity Incentive Plan

following description of the principal terms of the 2022 Equity Incentive Plan is a summary and is qualified in its entirety by the full

text of the 2022 Equity Incentive Plan.

Administration.

In general, the 2022 Equity Incentive Plan is administered by the Compensation Committee of the board of directors.

The Compensation

Committee determines the persons to whom options to purchase shares of common stock, stock appreciation rights (or “SARs”),

restricted stock units, restricted or unrestricted shares of common stock, performance shares, performance units, incentive bonus awards,

other stock-based awards and other cash-based awards may be granted.

The Compensation Committee may also establish rules and regulations

for the administration of the 2022 Equity Incentive Plan and amendments or modifications of outstanding awards.

No options, stock purchase

rights or awards may be made under the 2022 Equity Incentive Plan on or after January 7, 2032 (or, the expiration date), but the 2022

Equity Incentive Plan will continue thereafter in effect with respect to previously granted options, SARs or other awards that remain

Persons eligible to receive options, SARs or other awards under the 2022 Equity Incentive Plan are those employees, officers,

directors, consultants, advisors and other individual service providers of ours who, in the opinion of the Compensation Committee, are

in a position to contribute to our success, or any person who is determined by the Compensation Committee to be a prospective employee,

officer, director, consultant, advisor or other individual service provider of the Company or any subsidiary.

Subject to the 2022 Equity Incentive Plan.

The aggregate number of shares of common stock initially available for issuance in

connection with options and other awards granted under the 2022 Equity Incentive Plan was 600,000.

The number of shares of common stock

available for issuance under the 2022 Equity Incentive Plan automatically increases on the first day of each fiscal year of the Company

commencing with fiscal year 2023, and the first day of each fiscal year thereafter until the expiration date, in an amount equal to 5%

percent of the total number of shares of our common stock outstanding on the last day of the immediately preceding fiscal year of the

Company, unless the board of directors takes action prior thereto to provide that there will not be an increase in the share reserve

for such year or that the increase in the share reserve for such year will be of a lesser number of shares of common stock than would

otherwise occur.

As of December 31, 2024, the annual increases to the plan resulted in 1,009,000 shares being able to be issued

under the plan.

stock options”, or ISOs, that are intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended

(the “Code”) may be granted under the 2022 Equity Incentive Plan with respect to all of the shares of common stock authorized

for issuance under the 2022 Equity Incentive Plan.

any option or SAR granted under the 2022 Equity Incentive Plan terminates without having been exercised in full or if any award is forfeited,

the number of shares of common stock as to which such option or award was forfeited will be available for future grants under the 2022

Equity Incentive Plan.

Awards settled in cash will not count against the number of shares available for issuance under the 2022 Equity

Incentive Plan.

non-employee director may receive awards in any calendar year having an accounting value in excess of $250,000 (inclusive of any cash

awards to the non-employee director for such year that are not made pursuant to the 2022 Equity Incentive Plan);

provided that, in the

case of a new non-employee director, such amount is increased to $350,000 for the initial year of the non-employee director’s term.

number of shares authorized for issuance under the 2022 Equity Incentive Plan and the foregoing share limitations are subject to customary

adjustments for stock splits, stock dividends or similar transactions.

and Conditions of Options.

Options granted under the 2022 Equity Incentive Plan may be either ISOs or “non-statutory stock

options” that do not meet the requirements of Section 422 of the Code.

The Compensation Committee will determine the exercise price

of options granted under the 2022 Equity Incentive Plan.

The exercise price of stock options may not be less than the fair market value

per share of our common stock on the date of grant (or 110% of fair market value in the case of ISOs granted to a ten-percent stockholder).

on the date of grant the common stock is listed on a stock exchange or is quoted on the automated quotation system of the Nasdaq Stock

Market, the fair market value will generally be the closing sale price on the date of grant (or the last trading day before the date

of grant if no trades occurred on the date of grant).

If no such prices are available, the fair market value will be determined in good

faith by the Compensation Committee based on the reasonable application of a reasonable valuation method.

option may be exercisable for more than ten years (five years in the case of an ISO granted to a ten-percent stockholder) from the date

Options granted under the 2022 Equity Incentive Plan will be exercisable at such time or times as the Compensation Committee

prescribes at the time of grant.

No employee may receive ISOs that first become exercisable in any calendar year in an amount exceeding

The Compensation Committee may, in its discretion, permit a holder of an option to exercise the option before it has otherwise

become exercisable, in which case the shares of our common stock issued to the recipient will continue to be subject to the vesting requirements

that applied to the option before exercise.

the option price may be paid in cash, by certified check, or by bank draft.

The Compensation Committee may permit other methods of payment,

including through delivery of shares of our common stock having a fair market value equal to the purchase price.

The Compensation Committee

is authorized to establish a cashless exercise program and to permit the exercise price (and/or tax withholding obligations) to be satisfied

by reducing from the shares otherwise issuable upon exercise a number of shares having a fair market value equal to the exercise price.

option may be transferred other than by will or by the laws of descent and distribution, and during a recipient’s lifetime an option

may be exercised only by the recipient.

However, the Compensation Committee may permit the holder of an option, SAR or other award to

transfer the option, right or other award to immediate family members or a family trust for estate planning purposes.

The Compensation

Committee will determine the extent to which a holder of a stock option may exercise the option following termination of service with

Appreciation Rights.

The Compensation Committee may grant SARs under the 2022 Equity Incentive Plan.

The Compensation Committee

will determine the other terms applicable to SARs.

The exercise price per share of a SAR will not be less than 100% of the fair market

value of a share of our common stock on the date of grant, as determined by the Compensation Committee.

The maximum term of any SAR granted

under the 2022 Equity Incentive Plan is ten years from the date of grant.

Generally, each SAR will entitle a participant upon exercise

to an amount equal to:

the excess of the fair market value on the

exercise date of one share of our common stock over the exercise price, multiplied by

the number of shares of common stock covered

may be made in shares of our common stock, in cash, or partly in common stock and partly in cash, all as determined by the Compensation

Stock and Restricted Stock Units.

The Compensation Committee may award restricted common stock and/or restricted stock units

under the 2022 Equity Incentive Plan.

Restricted stock awards consist of shares of stock that are transferred to a participant subject

to restrictions that may result in forfeiture if specified conditions are not satisfied.

Restricted stock units confer the right to receive

shares of our common stock, cash, or a combination of shares and cash, at a future date upon or following the attainment of certain conditions

specified by the Compensation Committee.

The restrictions and conditions applicable to each award of restricted stock or restricted stock

units may include performance-based conditions.

Dividends with respect to restricted stock may be paid to the holder of the shares as

and when dividends are paid to stockholders or at the time that the restricted stock vests, as determined by the Compensation Committee.

Dividend equivalent amounts may be paid with respect to restricted stock units either when cash dividends are paid to stockholders or

when the units vest.

Unless the Compensation Committee determines otherwise, holders of restricted stock will have the right to vote

Shares and Performance Units.

The Compensation Committee may award performance shares and/or performance units under the 2022

Equity Incentive Plan.

Performance shares and performance units are awards, denominated in either shares or U.S.

dollars, which are earned

during a specified performance period subject to the attainment of performance criteria, as established by the Compensation Committee.

The Compensation Committee will determine the restrictions and conditions applicable to each award of performance shares and performance

The Compensation Committee may grant incentive bonus awards under the 2022 Equity Incentive Plan from time to time.

The terms of incentive bonus awards will be set forth in award agreements.

Each award agreement will have such terms and conditions as

the Compensation Committee determines, including performance goals and amount of payment based on achievement of such goals.

bonus awards are payable in cash and/or shares of our common stock.

Stock-Based and Cash-Based Awards.

The Compensation Committee may award other types of equity-based or cash-based awards under

the 2022 Equity Incentive Plan, including the grant or offer for sale of shares of our common stock that do not have vesting requirements

and the right to receive one or more cash payments subject to satisfaction of such conditions as the Compensation Committee may impose.

of Certain Corporate Transactions.

The Compensation Committee may, at the time of the grant of an award provide for the effect

of a change in control (as defined in the 2022 Equity Incentive Plan) on any award, including (i) accelerating or extending the time

periods for exercising, vesting in, or realizing gain from any award, (ii) eliminating or modifying the performance or other conditions

of an award, or (iii) providing for the cash settlement of an award for an equivalent cash value, as determined by the Compensation Committee.

The Compensation Committee may, in its discretion and without the need for the consent of any recipient of an award, also take one or

more of the following actions contingent upon the occurrence of a change in control:

(a) cause any or all outstanding options and SARs

to become immediately exercisable, in whole or in part;

(b) cause any other awards to become non-forfeitable, in whole or in part;

cancel any option or SAR in exchange for a substitute option;

(d) cancel any award of restricted stock, restricted stock units, performance

shares or performance units in exchange for a similar award of the capital stock of any successor corporation;

(e) cancel or terminate

any award for cash and/or other substitute consideration in exchange for an amount of cash and/or property equal to the amount, if any,

that would have been attained upon the exercise of such award or realization of the participant’s rights as of the date of the

occurrence of the change in control, but if the change in control consideration with respect to any option or SAR does not exceed its

exercise price, the option or SAR may be canceled without payment of any consideration;

or (f) make such other modifications, adjustments

or amendments to outstanding awards as the Compensation Committee deems necessary or appropriate.

The board of directors may at any time amend the 2022 Equity Incentive Plan for the purpose of satisfying the requirements

of the Code, or other applicable law or regulation or for any other legal purpose, provided that, without the consent of our stockholders,

the board of directors may not (a) increase the number of shares of common stock available under the 2022 Equity Incentive Plan, (b)

change the group of individuals eligible to receive options, SARs and/or other awards, or (c) extend the term of the 2022 Equity Incentive

and when appropriate, we shall have the right to require each optionee purchasing shares of common stock and each grantee receiving an

award of shares of common stock under the 2022 Equity Incentive Plan to pay any federal, state, or local taxes required by law to be

of March 31, 2026, there were 14,582,416 shares of common stock outstanding held by approximately 25 holders of record (excluding beneficial

holders in street name).

have not declared or paid any cash dividends on our common stock since inception and do not anticipate paying dividends in the foreseeable

We currently intend to retain any earnings to fund the development and growth of our business.

The declaration and payment of

future dividends, if any, will be at the discretion of our Board of Directors and will depend on our financial condition, operating results,

capital requirements, contractual restrictions, applicable law, and other factors deemed relevant by the Board.

There can be no assurance

that we will pay dividends in the future.

Purchase of Equity Securities

did not repurchase any shares of our common stock during the fiscal year ended December 31, 2025.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity