Company: BTBDW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001477932-25-003689
Chunk: 40

Company: BT Brands, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 uncertainty exists regarding the future realization of the deferred tax assets. Accordingly, a valuation allowance of approximately $666,000 has been recorded as of March 30, 2025, reducing the net deferred tax asset balance to zero. The Company will continue to assess the need for a valuation allowance in future periods. Should circumstances change and sufficient positive evidence emerge to support the realization of deferred tax assets, all or a portion of the valuation allowance may be reversed. The Company has approximately $3.1 million of federal operating tax loss carryforwards. The Company has no accrued interest or penalties relating to income tax obligations. There are currently no federal or state examinations in progress. The Company has not had any federal or state tax examinations since its inception. All periods since inception remain open for inspection. Per Common Share Amounts Net income per common share is computed by dividing net income or loss by the weighted average number of shares of common stock outstanding during the period. Diluted net income or loss per share is calculated by dividing net income by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. Common stock equivalents are excluded from the computation of diluted per-share amounts if their effect is anti-dilutive. There were no dilutive shares for the periods ending in 2025 and 2024.  

NOTE 2 – INTANGIBLE ASSETS  At March 30, 2025, and December 29, 2024, the value of acquired Intangible Assets being amortized are the following: March 30, 2025- Estimated Life(Years)  Original Cost  AccumulatedAmortization  Net Carrying Value Covenants not to Compete 3  $157,000  $(83,926) $73,074 Tradenames 15   344,000   (68,900)  275,100      $501,000  $(152,826) $348,174              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