Company: BRID
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001493152-25-009592
Chunk: 6

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 all relevant
available information. Actual results could materially differ from these estimates. Amounts estimated related to liabilities for self-insured
workers’ compensation, employee healthcare, and pension benefits are especially subject to inherent uncertainties and these estimated
liabilities may ultimately settle at amounts which vary from our current estimates. Market conditions and the volatility in stock markets
may cause significant changes in the measurement of our pension fund liabilities and the performance of our life insurance policies in
future periods.

Financial
instruments that subject the Company to credit risk consist primarily of cash and cash equivalents, accounts receivable, accounts payable,
accrued payroll, and notes payable. The carrying amount of these instruments approximate fair market value due to their short-term maturity
or market interest rates. The Company has accounts with nationally recognized financial institutions in excess of the Federal Deposit
Insurance Corporation insurance coverage limit. The Company has not experienced any losses in these accounts and believes it is not exposed
to any significant credit risk with regard to its cash and cash equivalents. The Company grants payment terms to a significant number
of customers that are diversified over a wide geographic area. The Company monitors the payment histories of its customers and maintains
an allowance for doubtful accounts which is reviewed for adequacy on a quarterly basis. The Company does not require collateral from
its customers.

Cash
and cash equivalents totaled $4,659 as of January 24, 2025, all of which were held at Wells Fargo Bank N.A., except for $900 with Bank
of America. Cash and cash equivalents totaled $10,230 as of November 1, 2024, all of which were held at Wells Fargo Bank N.A, except
for $1,000 with Bank of America.

Comprehensive
income or loss

Comprehensive
income or loss consists of net (loss) income and additional minimum pension liability adjustments. There were no differences between
net (loss) income and comprehensive income or loss during each of the twelve weeks ended January 24, 2025, and January 26,
2024.

Customer
Concentration > 20% of AR or >10% of Sales

The
table below shows customers that accounted for more than 20% of consolidated accounts receivable (“AR”) or 10% of consolidated
sales for the twelve weeks ended January 24, 2025, and January 26, 2024, respectively.

Schedule
of Customer Concentration 

    Walmart  
    Dollar General 

    Sales  
    AR