Company: BTBDW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006037
Chunk: 41

Company: BT Brands, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 41
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 in 2024, due to more assets reaching full depreciation.

General and Administrative Costs

General and administrative costs increased to $531,057 from $454,805, increasing as a percentage of sales to 14.1% from 11.1% in the prior year. The increase is, in part, attributable to consulting costs directed toward company-wide cost control initiatives.

charged to general and administrative expenses, 

Operating Income (Loss)

The loss from operations improved to a loss of $75,121, compared to a $188,543 loss in the same period of 2024. This improvement reflects cost savings initiatives and better margins despite lower sales.

Other Income and Expenses

 -Unrealized gain on marketable securities was $82,128 compared to a gain of $118,184 in 2024. -Realized investment gains were $79,026 versus $29,562 in 2024. -Interest expense was $19,550, slightly lower than $22,551 in 2024. -Interest and dividend income was $40,367 compared to $61,896 in 2024. -Equity in the Bagger Dave’s affiliate loss was $70,405 versus $81,000 in the prior year. -No income tax benefit was recorded for the quarter, compared to $12,500 in the same period last year.

Net Income (Loss)

Net income for the thirteen weeks ending June 29, 2025, was $55,031  (1.5% of sales) compared to a net loss of $69,952 (1.7% of sales) in 2024. The improved results were the result of expense reductions, disciplined cost management, and improvements in operating performance, as well as investment gains and dividends.

 21Table of Contents

Results of Operations – Twenty-Six Weeks Ended June 29, 2025 Compared to Twenty-Six Weeks Ended June 30, 2024

Overview of Results

For the twenty-six weeks ending June 29, 2025, net sales were $7.01 million, a decrease of $290,093 or 4.0% compared to $7.30 million for the same period in 2024. Total costs and expenses decreased to $7.33 million from $8.12 million in the prior year. The loss from operations improved significantly to $367,317, compared to a loss of $819,372 in 2024. The following