Company: BTBDW
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008407
Chunk: 29

Company: BT Brands, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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495,142 or 11.4% compared to $4.35 million for the same period in 2024. The decline, in part, reflects the closure of the Village Bier Garten and the Ham Lake Burger Time location in the first quarter of 2025. Total costs and expenses, excluding the impact of asset sales, decreased to $3.36 million from $4.39 million in the prior year. Income from operations improved significantly to $735,042, compared to a loss of $75,011 in 2024. After including investment gains, interest, and equity losses, including a write-down of the Company’s NGI investment of $304,000, the Company recorded net income of $914,975, a significant improvement compared to a net loss of $219,479 in the same period of 2024. 

 22Table of Contents

The following table sets forth our Condensed Statements of Operations and percentages of total sales for the thirteen-week fiscal periods. The percentages below may not reconcile because of rounding.

  13 weeks ended,September 28, 2025  13 weeks ended,September 29, 2024   Amount  %  Amount  % SALES $3,853,682   100.0% $4,348,824   100.0%COSTS AND EXPENSES                Restaurant operating expenses                Food and paper costs  1,176,619   30.5   1,563,073   35.9 Labor costs  1,290,108   33.5   1,698,150   39.0 Occupancy costs  332,984   8.6   377,398   8.7 Other operating expenses  231,761   6.0   238,031   5.5 Depreciation and amortization  151,010   3.9   141,527   3.3 General and administrative  178,389   4.6   375,451   8.6 Loss (gain) on sale of assets  (242,231 )  (6.3 )  30,205   0.7 Total costs and expenses  3,118,640   80.9   4,423,835   101.7