Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 335

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 335
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, is summarized below:   Number of Options  Weighted AverageExercise Price  Weighted Average Remaining Term (In Years)  Aggregate Intrinsic Value Options outstanding at January 1, 2023  220,250  $2.74   9.0  $- Granted  100,000   2.50   6.2   - Exercised  -   -   -   - Canceled, forfeited, or expired  (1,000)  2.58   -   - Options outstanding at December 31, 2023  319,250  $2.62   7.6  $- Options exercisable at December 31, 2023  106,702   2.85   8.3  $- Options outstanding at December 31, 2023  319,250  $2.62   7.6  $- Granted  20,000   1.64   9.3   - Exercised  -   -   -   - Canceled, forfeited, or expired  -   -   -   - Options outstanding at December 29, 2024  339,250  $2.53   7.4  $- Options exercisable at December 29, 2024  169,554  $2.65   6.8  $-   The Black-Scholes option-pricing model was used to estimate the fair value of the stock options at the date of grant with the following weighted-average assumptions for grants during the year ended December 29, 2024.   2024  2023 The fair value of options and warrants granted during the period $1.08 to $ 1.19  $1.60 Expected life (in years)  6.0   6.0 Expected dividend  -   - Expected stock volatility  63%  63%Risk-free interest rate  3.75%  3.75%

 F-16Table of Contents

NOTE 9 – LONG-TERM DEBT  We had the following long-term debt obligations at: December 29,202