Company: BRID
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001493152-25-012266
Chunk: 117

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-08-22
Form: 10-Q
Item: Part I, Item 2
Chunk 117
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 capacity, or
improve the efficiency of existing machinery and equipment. Specifically, capitalization of upgrades of facilities to maintain operating
efficiency include acquisitions of machinery and equipment used on packaging lines and refrigeration equipment used to process food products.

21 of 27

The
table below highlights additions to property, plant and equipment for the thirty-six weeks ended:

    July
    11, 2025  
    July
    12, 2024 
  
    Changes in projects in process 
    $(135) 
    $169 
  
    Direct-store-delivery and sales vehicles 
     1,064  
     1,913 
  
    Packaging lines 
     103  
     - 
  
    Computer hardware and software 
     185  
     345 
  
    Quality and temperature control 
     90  
     - 
  
    Processing equipment 
     48  
     55 
  
    Building improvement 
     502  
     - 
  
    Furniture and fixtures
    and forklifts 
     25  
     42 
  
    Additions to property,
    plant, and equipment 
    $1,882  
    $2,524 

Cash
flows from financing activities for the thirty-six weeks ended:

    July
    11, 2025  
    July
    12, 2024 
  
    Change in lease and right-of-use
    obligations 
    $(810) 
    $226 
  
    Proceeds from bank borrowings 
     2,000  
     - 
  
    Repayment of notes payable
    - equipment 
     (718) 
     (688)
  
    Net cash provided by (used in) financing
    activities 
    $472  
    $(462)

Our
stock repurchase program was approved by our Board of Directors in November 1999 and was expanded in June 2005. Under the stock repurchase
program, we are authorized, at the discretion of management and our Board of Directors, to purchase up to an aggregate of 2,000,000 shares
of our common stock on the open market. As of July 11, 2025, 120,113 shares remained authorized for repurchase under the program.

Revolving
Credit Facility

On
July 23, 2025, we entered into the an amended and restated credit agreement with Wells Fargo