Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 652

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7A
Chunk 652
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 a summary of the fair value of Level 1 investments. As required, fair values have been determined by reference to quoted market prices in active markets as of the year-end indicated:   December 29, 2024  December 31, 2023   Fair value Carrying Amount  Level 1  Fair value Carrying Amount  Level 1 Corporate bond fund $-  $-  $178,500  $178,500 Common stocks  2,129,986   2,129,986   1,213,560   1,213,560 Real estate investment trust  189,569   189,569   -   - Total $2,319,555  $2,319,555  $1,392,060  $1,392,060  Cash and Cash Equivalents  Cash and cash equivalents may include United States Treasury Bills with a maturity at the time of purchase of three months or less. Our bank deposits often exceed the amounts insured by the Federal Deposit Insurance Corporation. In addition, we maintain cash deposits in brokerage accounts, including money funds in excess of the amounts covered by insurance. We do not believe there is a significant risk related to cash. Broker Margin Loan At December 31, 2023, we had a broker margin loan outstanding of $115,899 which was repaid during 2024. The broker margin loans carried variable margin interest rate as set by the lending brokerage firm and was 6.8% at December 31, 2023; there was no amount due to brokers at December 29, 2024. Any broker margin loan is collateralized by marginable securities held in the margin account and is due on demand under Federal Reserve margin account regulations and the margin account agreement. Deferred Transaction Costs  Deferred transaction costs for the year ended December 31, 2024, primarily consist of legal fees that were capitalized as incurred and will be offset against the proceeds from future ATM offerings. The deferred transaction costs will be reviewed periodically to assess the probability that future securities will be offered. In the event that no future offering will occur, any deferred transaction costs will be expensed. Total costs incurred, but not accounted for as a reduction in equity, were $10,000 as of December 31, 2024.

 F-8Table of Contents

Revenue Recognition  Our