Company: BRID
Filing Date: 2025-06-02
Form Type: 10-Q
Source: 0001641172-25-013252
Chunk: 86

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-06-02
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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, plant and equipment for the twenty-four weeks ended:

    April 18, 2025  
    April 19, 2024 
  
    Changes in projects in process 
    $(3) 
    $445 
  
    Direct-store-delivery and sales vehicles 
     784  
     1,053 
  
    Packaging lines 
     82  
     - 
  
    Computer hardware and software 
     185  
     345 
  
    Temperature control 
     6  
     - 
  
    Processing equipment 
     23  
     26 
  
    Building improvement 
     477  
     - 
  
    Furniture and fixtures and forklifts 
     22  
     - 
  
    Additions to property, plant, and equipment 
    $1,576  
    $1,869 

Cash
flows from financing activities for the twenty-four weeks ended:

    April 18, 2025  
    April 19, 2024 
  
    Change in lease and right-of-use obligations 
    $(532) 
    $(623)
  
    Repayment of notes payable - equipment 
     (447) 
     (431)
  
    Net cash used in financing activities 
    $(979) 
    $(1,054)

Our
stock repurchase program was approved by our Board of Directors in November 1999 and was expanded in June 2005. Under the stock repurchase
program, we are authorized, at the discretion of management and our Board of Directors, to purchase up to an aggregate of 2,000,000 shares
of our common stock on the open market. As of April 18, 2025, 120,113 shares remained authorized for repurchase under the program.

 22 of 27 

Revolving
Credit Facility

On
November 30, 2024, we entered into a sixth amendment to the credit agreement with Wells Fargo Bank, N.A. dated March 1, 2018, as amended,
and also executed a revolving line of credit note pursuant to the amendment. The revolving line of credit note replaced the then-existing
note that expired by its terms on November 30, 2024. Under the terms of this amendment and the revolving line of credit note, we may
borrow up to $7,500 from time to time up to November 30, 2025, at an interest