$BTBDW

BT Brands, Inc.

CIK:0001718224|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025	Jun. 28, 2026	Jun. 29, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
SALES	$ 3,550,865	$ 3,779,690	$ 6,394,499	$ 7,010,763
Restaurant operating expenses
Food and paper costs	1,132,214	1,249,220	2,095,508	2,449,549
Labor costs	1,256,264	1,374,603	2,369,626	2,592,500
Occupancy costs	327,331	302,021	647,455	611,715
Other operating expenses	232,601	253,185	456,739	441,105
Depreciation and amortization expenses	151,575	144,725	303,151	301,120
General and administrative expenses	333,675	531,057	669,165	982,091
Total costs and expenses	3,433,660	3,854,811	6,541,644	7,378,080
Income (loss) from operations	117,205	(75,121)	(147,145)	(367,317)
UNREALIZED GAIN ON MARKETABLE SECURITIES	829,976	82,128	399,190	38,104
REALIZED INVESTMENT GAIN (LOSS)	(64,649)	79,026	(143,899)	174,064
INTEREST AND DIVIDEND INCOME	18,233	40,367	37,348	80,967
INTEREST EXPENSE	(19,032)	(19,550)	(37,468)	(41,104)
OTHER INCOME (EXPENSE)	(270,994)	18,586	(257,856)	45,173
EQUITY IN NET INCOME (LOSS) OF AFFILIATE	(34,306)	(70,405)	(24,748)	(204,705)
INCOME (LOSS) BEFORE TAXES	576,433	55,031	(174,578)	(274,818)
INCOME TAX (EXPENSE) BENEFIT	0	0	0	0
NET INCOME (LOSS)	$ 576,433	$ 55,031	$ (174,578)	$ (274,818)
NET INCOME (LOSS) PER COMMON SHARE - Basic	$ 0.09	$ 0.01	$ (0.03)	$ (0.04)
NET INCOME (LOSS) PER COMMON SHARE - Diluted	$ 0.09	$ 0.01	$ (0.03)	$ (0.04)
WEIGHTED AVERAGE SHARES USED IN COMPUTING
PER COMMON SHARE AMOUNTS - Basic	6,173,734	6,154,724	6,164,231	6,154,724
PER COMMON SHARE AMOUNTS - Diluted	6,173,734	6,154,724	6,164,231	6,154,724

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 28, 2026	Jun. 29, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (174,578)	$ (274,818)
Adjustments to reconcile net loss to net cash
Depreciation and amortization	303,151	301,120
Amortization of debt issuance costs included in interest expense	2,558	1,350
Provision for uncollectible loans made to unconsolidated affiliate	50,000	0
Stock-based compensation	59,459	93,735
Unrealized gain on marketable securities	(399,190)	(38,104)
Realized investment (gain) loss	143,899	(174,064)
Loss on equity method investment	24,748	204,705
Write down of inventory - bottled water held for sale	174,000	0
Non-cash operating lease expense	(11,240)	5,955
Changes in operating assets and liabilities
Receivables	36,793	36,266
Inventory	33	25,500
Prepaid expenses and other current assets	(62,272)	52,875
Other assets	(43,416)	0
Accounts payable	29,052	(162,575)
Accrued expenses	(15,507)	5,678
Net cash provided by operating activities	117,490	77,623
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(92,975)	(124,365)
Proceeds from sale of equipment	0	34,500
Loans to unconsolidated affiliates	(227,088)	(572,357)
Purchase of marketable securities	(1,190,993)	(2,144,077)
Proceeds from the sale of marketable securities	2,209,157	1,705,516
Purchase of inventory - bottled water held for resale	0	292,372
Other assets	0	18,110
Net cash provided by (used in) investing activities	698,101	(1,375,045)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock option exercises	45,000	0
Principal payments on long-term debt	(95,668)	(93,925)
Payment of deferred transaction costs	(18,180)	0
Net cash used in financing activities	(68,848)	(93,925)
CHANGE IN CASH AND CASH EQUIVALENTS	746,743	(1,391,347)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	846,167	1,951,415
CASH AND CASH EQUIVALENTS, END OF PERIOD	1,592,910	560,068
SUPPLEMENTAL DISCLOSURES
Cash paid for interest	$ 34,790	$ 46,069

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 28, 2026	Dec. 28, 2025
CURRENT ASSETS
Cash and cash equivalents	$ 1,592,910	$ 846,167
Marketable securities	2,833,260	3,596,133
Receivables	17,713	54,506
Inventory	230,410	230,443
Inventory - bottled water held for resale	400,000	574,000
Prepaid expenses and other current assets	84,424	22,152
Deferred transaction costs	168,630	150,450
Assets held for sale	424,123	424,123
Total current assets	5,751,470	5,897,974
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET	2,274,675	2,456,718
OPERATING LEASES RIGHT-OF-USE ASSETS	1,168,036	1,267,699
NOTE RECEIVABLE FROM UNCONSOLIDATED AFFILIATE, NET	152,340	0
GOODWILL	796,220	796,220
INTANGIBLE ASSETS, NET	277,137	305,270
OTHER ASSETS, NET	64,587	21,171
Total assets	10,484,465	10,745,052
CURRENT LIABILITIES
Accounts payable	274,278	245,226
Current maturities of long-term debt	199,976	191,531
Current operating lease obligations	404,548	358,939
Accrued expenses	406,360	421,867
Total current liabilities	1,285,162	1,217,563
LONG-TERM DEBT, LESS CURRENT PORTION	1,798,038	1,899,592
NONCURRENT OPERATING LEASE OBLIGATIONS	1,052,996	1,209,509
Total liabilities	4,136,196	4,326,664
SHAREHOLDERS' EQUITY
Preferred stock, $.001 par value, 2,000,000 shares authorized, no shares outstanding at June 28, 2026 and December 28, 2025	0	0
Common stock, $.002 par value, 50,000,000 authorized, 6,491,118 and 6,461,118 issued at June 28, 2026 and December 28, 2025, with 6,184,724 and 6,154,724 outstanding at June 28, 2026 and December 28, 2025	12,369	12,309
Less cost of 306,394 common shares held in Treasury at June 28, 2026 and December 28, 2025	(499,718)	(499,718)
Additional paid-in capital	12,059,134	11,954,735
Accumulated deficit	(5,223,516)	(5,048,938)
Total shareholders' equity	6,348,269	6,418,388
Total liabilities and shareholders' equity	$ 10,484,465	$ 10,745,052