Company: BTBDW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002248
Chunk: 265

Company: BT Brands, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 265
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 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 29,2024  December 31,2023 Three notes payable to a bank dated June 28, 2021 due in monthly installments totaling $22,213, including principal and interest at a fixed rate of 3.45% through June 28, 2031. Beginning in July 2031, the interest rate will equal the greater of the “prime rate” plus .75%, or 3.45%. These notes mature on June 28, 2036. The notes are secured by mortgages covering eight BTND operating locations. The notes are guaranteed by BT Brands, Inc., and a shareholder of the Company. $2,307,143  $2,489,299 Less - unamortized debt issuance costs  (30,799)  (36,199 )Current maturities  (185,009)  (183,329 )Long-term debt, less current portion $2,091,335  $2,269,771  Scheduled maturities of long-term debt, excluding amortization of debt issuance costs, are as follows at December 29, 2024: Fiscal year ending-- 12/28/25 $185,009 1/3/27  191,531 12/31/27  198,207 12/30/28  205,270 12/29/29  212,507 Thereafter  1,314,620   $2,307,143 

NOTE 10 – ACQUISITION On May 13, 2024, our 1519BT, LLC subsidiary completed the purchase of certain assets from LC Food Concepts. The acquired assets comprised a business operating as a high-end German-themed restaurant with approximately