Company: BRID
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001493152-25-009592
Chunk: 94

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 2
Chunk 94
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March 2024, the SEC adopted rules to develop standardized climate-related disclosures by publicly traded companies, including the emission
of greenhouse gases. The rules are currently effective for the Company in the fiscal year beginning in 2027. However, as a result of
pending legal challenges, the actual timing of effectiveness of the rules and applicable phase-in periods, as well as whether portions
of 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.

In
November 2024, the FASB issued ASU No. 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation
Disclosures – Disaggregation of Income Statement Expenses. ASU 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
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 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
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