Company: BTBDW
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008407
Chunk: 15

Company: BT Brands, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
ed average shares outstanding – Diluted  6,159,750   6,221,154   6,154,791   6,181,952  Diluted net income per common share for the 13 and 39-week periods ended September 28, 2025 reflects the impact of approximately 5,026 and 67 potentially dilutive common stock equivalents, respectively, related to stock options, as determined using the “Treasury Stock” method. There were no dilutive shares outstanding for the comparable periods in 2024, as all common stock equivalents were anti-dilutive due to the net loss in those periods.

 13Table of Contents

NOTE 2 – INTANGIBLE ASSETS  At September 28, 2025, and December 29, 2024, the value of acquired Intangible Assets being amortized are the following: September 28, 2025- Estimated Life(Years)  Original Cost  AccumulatedAmortization  Net Carrying Value Covenants not to Compete  3  $157,000  $(101,444 ) $55,556 Tradenames  15   344,000   (80,219 )  263,781 Total      $501,000  $(181,663 ) $319,337  December 29, 2024- Estimated Life(Years)  Original Cost  AccumulatedAmortization  Net Carrying Value Covenants not to Compete  3  $198,000  $(103,135 ) $94,865 Tradenames  15   393,000   (70,988 )  322,012 Impairment charge      -   -   (49,078 )Total      $591,000  $(174,123 ) $367,799  On January 2, 2025, Company management concluded to close the Company’s Village Bier Garten location. In connection with the closure, the Company recognized the impairment of Village Bier Garten intangible assets in 2024.  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 202