Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 450

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 450
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 and (2) involved our especially challenging, subjective, or complex judgments. We determined that there were no critical audit matters.

/s/ Boulay PLLP

We have served as the Company’s auditors since 2015.

Minneapolis, Minnesota

March 31, 2025

PCAOB ID: 542

 F-1Table of Contents

PART I FINANCIAL INFORMATION

BT BRANDS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS 

       December 31, 2024  December 31, 2023 ASSETS      CURRENT ASSETS      Cash and cash equivalents $1,951,415  $5,300,446 Marketable securities  2,319,555   1,392,060 Receivables  69,459   28,737 Inventory  272,603   201,333 Prepaid expenses and other current assets  127,621   47,246 Assets held for sale  258,751   258,751 Total current assets  4,999,404   7,228,573          PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET  3,343,340   3,247,013 OPERATING LEASE RIGHT-OF-USE ASSETS  1,724,052   1,789,285 EQUITY INVESTMENT IN UNCONSOLIDATED SUBSIDIARY  304,439   718,806 INVESTMENT IN EQUITY AND NOTES RECEIVABLE FROM RELATED COMPANY  424,000   304,000 DEFERRED INCOME TAXES  -   206,000 GOODWILL  796,220   671,220 INTANGIBLE ASSETS, NET  367,799   395,113 OTHER ASSETS, NET  37,543   49,202 Total assets          $11,996,797  $14,609,212 LIABILITIES AND SHAREHOLDERS' EQUITY        CURRENT LIABILITIES        Accounts payable $612,059  $555,247 Broker margin loan  -   115,899 Current maturities of long-term debt  185,009   183,329 Current