Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 44

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 the rules will remain in effect after the legal challenges, are uncertain. The Company is currently evaluating the guidance and its
impact on the financial statements.

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In
November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense
Disaggregation Disclosures – Disaggregation of Income Statement Expenses. ASU No. 2024-03 seeks to separately disaggregate
expenses on inventory, employee compensation, depreciation and other items included within each income statement line item that
contains these expenses. ASU No. 2024-03 is effective for the Company in fiscal years beginning after December 15, 2026, our fiscal
year 2027, and will be applied prospectively. The Company is currently evaluating the guidance and its impact to the financial
statements.

In
January 2025, the FASB issued ASU No. 2025-01, Income Statement – Reporting Comprehensive Income – Expense
Disaggregation Disclosures – Disaggregation of Income Statement Expenses. ASU No. 2025-01 seeks to separately disaggregate
expenses on inventory, employee compensation, depreciation and other items included within each income statement line item that
contains these expenses. ASU No. 2025-01 is effective for the Company in fiscal years beginning after December 15, 2026, our fiscal
year 2027, and will be applied prospectively. The Company is currently evaluating the guidance and its impact to the financial
statements.

Off-Balance
Sheet Arrangements

We
are not engaged in any “off-balance sheet arrangements” within the meaning of Item 303(b) of Regulation S-K.

Item
3. Quantitative and Qualitative Disclosures about Market Risk

Not
required for smaller reporting companies.

Item
4. Controls and Procedures

Evaluation
of Disclosure Controls and Procedures

Disclosure
controls and procedures are designed to help ensure that information required to be disclosed by us in our Exchange Act reports is
recorded, processed, summarized and reported within the time periods specified in the SEC’s rules, regulations and forms, and
that such information is collected and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Our
management, with the participation and under the supervision of our Principal Executive Officer and Principal Financial Officer, has
evaluated the effectiveness of our disclosure controls and procedures (