Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 510

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 7
Chunk 510
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 2,595  
     205 
  
    Vehicles for sales and/or delivery 
     2,372  
     1,390 
  
    Quality control and communication systems 
     -  
     66 
  
    Computer software and hardware 
     345  
     - 
  
    Forklifts 
     52  
     39 
  
    Change in projects in process 
     (1,769) 
     205 
  
    Additions to property, plant and equipment 
    $3,902  
    $2,603 

Expenditures for additions to property, plant
and equipment during the fifty-two weeks ended November 1, 2024, include projects in process of $755 related to the production facilities
in Chicago and Statesville. 

 15 

Cash flows used in financing activities:

    November 1, 2024  (52 Weeks)   
    November 3, 2023  (53 Weeks)  
  
    Payment of capital lease obligations 
    $(103) 
    $(1,151)
  
    Repayments of bank borrowings 
     (1,045) 
     (1,083)
  
    Net cash used in financing activities 
    $(1,148) 
    $(2,234)

Our stock repurchase program was approved by the
Board of Directors in November 1999 and was expanded in June 2005. Under the stock repurchase program, we were authorized, at the discretion
of management and the Board of Directors, to purchase up to an aggregate of 2,000,000 shares of our common stock on the open market. As
of the end of fiscal year 2024, 120,113 shares remained authorized for repurchase under the program.

The Company leased three long-haul trucks received
during fiscal year 2019. The six-year leases for these trucks would have expired in fiscal year 2025. We returned one long-haul truck
on June 22, 2023, for a loss of $12 and returned remaining two long-haul trucks on July 11, 2024, for a loss of $90, in an effort to reduce
the overall cost of delivering products as we transitioned deliveries to common carriers. All long-haul trucks under this lease agreement
have been returned as of November 1, 2024. The Company leased one box truck for a market value