Company: BTBDW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001477932-25-006037
Chunk: 13

Company: BT Brands, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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(Years)  Original Cost  AccumulatedAmortization  Net Carrying Value Covenants not to Compete  3  $198,000  $(103,135) $94,865 Tradenames  15   393,000   (70,988)  322,012 Impairment charge      -   -   (49,078)      $591,000  $(174,123) $367,799   On January 2, 2025, the Company closed its Village Bier Garten location. In connection with the closure, the Company recognized the impairment of Village Bier Garten assets in 2024.  The total amortization of intangible assets, including the covenants not to compete, will approximate $62,600 in 2025, $56,300 in 2026, $36,800 in 2027, and $23,000 per year through 2036 and approximately $5,600 in 2037. The total amortization expense was $19,625 and $36,091, respectively, for the 13-week and 26-week periods in 2025.  The amortization expense was $37,800 and $63,950, respectively, for the 13-week and 26-week periods in 2024.

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NOTE 3 – PROPERTY AND EQUIPMENT Property and equipment consisted of the following:    June 29,2025    December 29, 2024 Land $435,239  $435,239 Equipment  3,985,458   4,149,525 Buildings and leasehold improvements  2,577,155   2,915,784 Total property and equipment  6,997,852   7,500,548 Accumulated depreciation  (3,586,034)  (3,575,663)Net  3,411,818   3,924,885 Less – property held for sale  (682,894)  (258,751)Less – impairment charge  -   (322,794)Net property and equipment $2,728,924  $3,343,340  Depreciation expense for the 26-week periods in 2025 and 202