BARFRESH FOOD GROUP INC. — Director's Dealing 2021

Jul 6, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BARFRESH FOOD GROUP INC. (BRFH)
CIK: 0001487197
Period of Report: 2021-07-06

Reporting Person: Ibex Investors LLC (Director, 10% Owner)
Reporting Person: Ibex Microcap Fund LLLP (Director, 10% Owner)
Reporting Person: BORUS JUSTIN B (Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-06	Warrant (right to buy)	$0.53	D	1800000	Disposed	2021-07-31	Common Stock (1800000)	Indirect
2021-07-06	Warrant (right to buy)	$0.53	A	1800000	Acquired	2023-07-31	Common Stock (1800000)	Indirect

Footnotes

F1: On July 6, 2021, the terms of an aggregate of 1,800,000 warrants were amended to extend the expiration date to July 31, 2023.

F2: These Warrants are not exercisable by the holder to the extent (but only to the extent) that the holder together with any of its affiliates would beneficially own in excess of 9.99% (the "Maximum Percentage") of the Issuer's Common Stock after giving effect to such exercise and as a result of such exercise. By written notice to the Issuer, the holder may increase or decrease the Maximum Percentage, as applied to the holder, to any other percentage specified in such notice; provided that any such increase will not be effective until the 61st day after such notice is delivered to the Issuer.

F3: These securities are owned directly by Ibex Microcap Fund LLLP (the "Fund"). Ibex Investors LLC ("Ibex") is the investment adviser and general partner of the Fund, and Mr. Borus is the manager of Ibex. Each of Ibex and Mr. Borus expressly disclaims beneficial ownership of these securities except to the extent of its or his pecuniary interest therein, if any. The filing of this Form 4 shall not be construed as an admission that either Ibex or Mr. Borus, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, is the beneficial owner of these securities.

F4: Lazarus Macro Micro Partners LLLP ("Macro Micro Partners") has been removed as a Reporting Person as it no longer beneficially owns any of the Issuer's securities, having transferred 3,000 shares of common stock to Mr. Borus (its sole owner) personally on December 24, 2020. Such transaction was exempt from Section 16 of the Securities Exchange Act of 1934 and will be reflected in the next Form 4 that reports a transaction in Table I.