Company: BRID
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001493152-25-012266
Chunk: 92

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-08-22
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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 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 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.

23 of 27

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