Company: BTBDW
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008407
Chunk: 49

Company: BT Brands, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 49
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 an unrealized loss of $69,933 in 2024. ·Realized investment gains were $138,890 versus a realized loss of $343 in 2024. ·Interest expense was $16,385, slightly lower than $22,552 in 2024 as a result of principal reduction. ·Interest and dividend income was $31,866 compared to $50,142 in 2024. ·Equity in the Bagger Dave’s affiliate loss was $99,734 versus $115.782 in the prior year. ·An impairment charge of $304,000 was recorded to write down the Company’s investment in NGI ·No income tax expense was recorded for the quarter, compared to a $14,000 tax benefit in the same period last year.

Net Income (Loss)

Net income for the thirteen weeks ending September 28, 2025, was $914,976 (23.7% of sales) compared to a net loss of $219,479 (5.0% of sales) in 2024. The improved results were the result of expense reductions, disciplined cost management, and improvements in operating performance, as well as the sale of property, non-operating investment gains, and dividends.

 24Table of Contents

Results of Operations – Thirty-nine Weeks Ended September 28, 2025 Compared to Thirty-nine Weeks Ended September 29, 2024

Overview of Results

For the thirty-nine weeks ending September 28, 2025, net sales were $10.86 million, a decrease of $785,165 or 6.7% compared to $11.65 million for the same period in 2024. Total costs and expenses decreased to $10.50 million from $12.54 million in the prior year. Income from operations improved significantly to $367,725, compared to a loss of $894,383 in 2024. The following table presents our Condensed Statements of Operations and the percentages of total sales for the thirty-nine-week fiscal periods. The percentages below may not reconcile because of rounding. 

  39 weeks ended.September 28, 2025  39 weeks ended, September 29, 2024   Amount        %  Amount  % SALES $10,864,445   100.0% $11,649,610   100.0%COSTS AND EXPENSES                Restaurant operating expenses