Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 325

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 325
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3,247,013  Depreciation expenses for 2024 and 2023 were $652,967 and $539,675, respectively.

 F-11Table of Contents

NOTE 3 – INTANGIBLE ASSETS At year-end 2024 and 2023, based on the value of acquired assets, intangible assets comprise the following: December 29, 2024- Estimated Useful Life(Years)  OriginalCost  AccumulateAmortization  NetCarryingValue Covenants not to compete  3  $198,000  $(103,135 ) $94,865 Tradenames  15   393,000   (70,988 )  322,012 Impairment charge              (49,078 )      $591,000  $(174,123 ) $367,799   December 31, 2023- EstimatedUseful Life(Years)  OriginalCost  AccumulatedAmortization  NetCarryingValue Covenants not to compete  3  $98,000  $(51,028 ) $46,972 Tradenames  15   393,000   (44,859 )  348,141       $491,000  $(95,887 ) $395,113   Following the end of 2024, on January 2, 2025, the Company closed its Village Bier Garten location. In connection with the closure, the Company recognized the impairment of Village Bier Garten assets and has recorded an allowance to fully reserve for the remaining carrying value of intangible assets associated with the location. Tradename assets are amortized over 15 years. Total amortization expense for 2024 was approximately $90,000. The total amortization of intangible assets, including the covenants not to compete will approximate $62,600 in 2025, $56,300 in 2026, $36,800 in 2027 and $26,200 per year through 2036 and approximately $5,600 in 2037. Total amortization expense of intangible assets in 2024 includes $11,660 of expense to write off the intangible asset related to the Company’s former franchise asset upon termination of the franchise agreement. This amount was included in other assets