Company: BTBDW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001477932-25-003689
Chunk: 46

Company: BT Brands, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 46
---
2030 and thereafter  558,164 Total future minimum lease payments  1,686,550 Less - interest  (209,090 )  $1,477,460  The total operating lease expenses for the 13 weeks in 2025 and 2024 were approximately $74,000 and $85,000, respectively. Cash paid for leases during the thirteen weeks in 2025 totaled approximately $74,000, and $79,000 in 2024. Variable expenses for lease properties were approximately $9,000 in the first quarter of 2025 and $9,000 in the first quarter of 2024. The Company pays monthly rent under month-to-month arrangements for corporate and administrative office spaces in  Minnetonka, Minnesota, of approximately $1,400.

NOTE 8 – SHAREHOLDERS’ EQUITY  On November 12, 2021, the Company completed a public offering of Units consisting of one share of common stock and one five-year stock purchase warrant to purchase one common share at $5.50. The Company has the right to redeem the warrants under certain conditions. The net proceeds from the offering were $10,696,575.  On June 6, 2024, we authorized a stock repurchase program, under which we may repurchase up to 625,000 shares, or approximately 10.0%, of our currently issued and outstanding common stock (the “2024 Share Repurchase Program”). We have not established any maximum aggregate price to be paid for shares that we repurchase. As of December 29, 2024, we repurchased 306,394 shares, including 91,394 shares under the 2024 Share Repurchase Program. We may purchase up to an additional 533,606 shares under the 2024 Share Repurchase Program. We are purchasing the shares with available cash. We may purchase shares of our common stock from time to time, in amounts, at prices, and at such times as we deem appropriate, subject to market conditions, legal requirements and other considerations. Our purchases may be executed using open market purchases, unsolicited or solicited privately negotiated transactions, or other transactions. The 2024 Share Repurchase Program does not obligate us to repurchase any specific number of shares and may be suspended, modified, or terminated at any time without prior notice. The 2024 Share Repurchase Program does not contain a time limitation during which repurchases