SCHEDULE: Barfresh Director Borus Resigns, Ibex Ownership Detailed

Justin B. Borus, a director of Barfresh Food Group Inc. and a significant beneficial owner through Ibex entities, has resigned from the board.

Summary

• Justin B. Borus resigned as a director of Barfresh Food Group Inc. on March 10, 2026.
• As of March 10, 2026, and March 12, 2026, Mr. Borus beneficially owns 1,440,885 shares of Common Stock, representing 9.0% of the outstanding shares.
• Ibex Microcap Fund LLLP directly owns 1,110,982 shares, representing 7.0% of the outstanding shares.
• Ibex Investors LLC and Ibex Investment Holdings LLC are deemed to beneficially own the 1,110,982 shares held by Ibex Microcap Fund LLLP, also representing 7.0%.
• The percentages are based on 15,969,281 shares outstanding as of November 4, 2025, as reported in the Issuer's Form 10-Q filed on November 6, 2025.
• No transactions in Common Stock were effected by any Reporting Person in the last sixty days.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a slightly negative development due to the resignation of a director who is also a significant beneficial owner, potentially signaling a loss of strategic input or confidence.

Positives

• The filing clarifies the beneficial ownership structure of a significant shareholder group, providing transparency regarding their holdings.

Negatives

• The resignation of a director, especially one associated with a 9.0% beneficial ownership stake, could signal a loss of institutional oversight or strategic input for the company.

Risks

• The departure of a director who is also a significant beneficial owner could lead to uncertainty regarding future strategic direction or shareholder advocacy within Barfresh Food Group Inc.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future operations or financial performance.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are standard disclosures for significant ownership changes and director appointments or resignations. While this filing details a director's departure, it does not provide broader industry context or competitive analysis.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: May perceive the resignation of a director associated with a significant ownership stake as a potential concern regarding future governance or strategic alignment.
• Board of Directors: The board will need to address the vacancy created by the resignation.

Key Dates

Recommendation

While the resignation of a director, especially one representing a significant shareholder, can introduce uncertainty, this Schedule 13D filing primarily reports a factual event without providing deeper insights into the reasons or potential strategic shifts. The beneficial ownership remains substantial, suggesting continued interest from the Ibex group. Investors should hold and monitor for further announcements regarding board composition or strategic direction.

Keywords

Barfresh Food Group, Justin B. Borus, Ibex Investors, Schedule 13D, Director Resignation, Beneficial Ownership, Common Stock, Corporate Governance