Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 446

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 5
Chunk 446
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 30, 2020, through November 3, 2023.

We do not anticipate a significant change to the
total amount of unrecognized tax benefits within the next 12 months.

NOTE 5 - Line of Credit and Borrowing Agreements:

The following table reflects major components
of our revolving credit facility and borrowing agreements as of November 1, 2024, and November 3, 2023, respectively.

Schedule
of Line of Credit and Borrowing agreements 

    November 1, 2024  
    November 3, 2023 

    Revolving credit facility 
    $-  
    $- 
  
    Equipment notes: 

    3.68% note due 04/16/27, out of lockout 04/17/22 
     2,786  
     3,831 
  
    Total debt 
     2,786  
     3,831 
  
    Less current debt 
     (1,084) 
     (1,045)
  
    Total long-term debt 
    $1,702  
    $2,786 

Revolving Credit Facility

On November 30, 2023, we entered into a fifth
amendment to the credit agreement with Wells Fargo Bank, N.A. dated March 1, 2018, as amended, and also executed a revolving line of credit
note pursuant to the amendment. The revolving line of credit note replaces the existing note that expired by its terms on November 30,
2023. Under the terms of this amendment and the revolving line of credit note, we may borrow up to $7,500 from time to time up to November
30, 2024, at an interest rate equal to (a) the daily simple secured overnight financing rate plus 2.0%, or if unavailable, (b) the prime
rate, in each case as determined by the bank. The line of credit has an unused commitment fee of 0.35% of the available loan amount, payable
on a quarterly basis. Amounts may be repaid and reborrowed during the term of the note. Accrued interest is payable on the first day of
each month and the outstanding principal balance and remaining interest are due and payable on November 30, 2024. Refer to Subsequent
Events under Note 1 to the Consolidated Financial Statements included within this Report for further information.

Equipment Notes