2022 Q4 Form 10-Q Financial Statement

#000147793222008574 Filed on November 15, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q1 2021 Q4
Revenue $4.024M $1.847M $2.281M
YoY Change 76.41% -11.42%
Cost Of Revenue $2.941M $1.294M $1.552M
YoY Change 89.5% -8.08%
Gross Profit $1.083M $553.1K $729.1K
YoY Change 48.55% -18.36%
Gross Profit Margin 26.91% 29.94% 31.96%
Selling, General & Admin $656.8K $366.8K $207.0K
YoY Change 217.35% -29.69%
% of Gross Profit 60.64% 66.31% 28.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $172.4K $60.23K $60.41K
YoY Change 185.35% 23.42%
% of Gross Profit 15.92% 10.89% 8.29%
Operating Expenses $1.074M $541.8K $370.3K
YoY Change 190.04% -20.78%
Operating Profit $8.991K $11.30K $358.7K
YoY Change -97.49% -276.84%
Interest Expense $33.64K -$11.71K $32.92K
YoY Change 2.19% -61.59%
% of Operating Profit 374.13% -103.63% 9.18%
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$174.9K -$420.00 $325.8K
YoY Change -153.68% -99.67%
Income Tax $0.00 -$25.00K $90.00K
% Of Pretax Income 27.62%
Net Earnings -$174.9K $24.58K $235.8K
YoY Change -174.17% -205.18%
Net Earnings / Revenue -4.35% 1.33% 10.34%
Basic Earnings Per Share
Diluted Earnings Per Share -$27.07K $5.608K $58.27K
COMMON SHARES
Basic Shares Outstanding 6.461M shares 6.448M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2022 Q4 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $7.819M $12.39M $2.079M
YoY Change 276.13% 837.42%
Cash & Equivalents $7.166M $12.39M $2.079M
Short-Term Investments $653.4K $0.00
Other Short-Term Assets $50.38K $27.19K $66.37K
YoY Change -24.09% 408.22%
Inventory $150.8K $79.51K $69.44K
Prepaid Expenses
Receivables $57.60K $72.25K $31.75K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.078M $12.56M $2.246M
YoY Change 259.6% 793.51%
LONG-TERM ASSETS
Property, Plant & Equipment $3.541M $1.592M $1.546M
YoY Change 129.07% -2.46%
Goodwill $488.4K $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments $1.428M $75.00K $75.00K
YoY Change 1804.25% 0.0%
Other Assets $280.4K $273.8K $274.0K
YoY Change 2.36% -0.62%
Total Long-Term Assets $7.847M $1.941M $1.895M
YoY Change 314.08% -2.11%
TOTAL ASSETS
Total Short-Term Assets $8.078M $12.56M $2.246M
Total Long-Term Assets $7.847M $1.941M $1.895M
Total Assets $15.92M $14.51M $4.141M
YoY Change 284.53% 328.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $354.5K $292.0K $419.0K
YoY Change -15.4% 7.94%
Accrued Expenses $490.6K $254.3K $304.6K
YoY Change 61.07% -39.55%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $169.5K $169.9K $178.6K
YoY Change -5.1% -30.74%
Total Short-Term Liabilities $1.240M $925.3K $1.079M
YoY Change 14.92% -10.56%
LONG-TERM LIABILITIES
Long-Term Debt $2.698M $2.833M $3.005M
YoY Change -10.22% -3.6%
Other Long-Term Liabilities $1.354M -$30.00
YoY Change
Total Long-Term Liabilities $2.698M $2.833M $3.005M
YoY Change -10.22% -3.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.240M $925.3K $1.079M
Total Long-Term Liabilities $2.698M $2.833M $3.005M
Total Liabilities $5.344M $3.877M $4.260M
YoY Change 25.42% -5.23%
SHAREHOLDERS EQUITY
Retained Earnings -$824.8K -$600.2K -$624.8K
YoY Change 32.0% -50.32%
Common Stock $12.92K $12.90K $8.095K
YoY Change 59.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $10.58M $10.63M -$119.1K
YoY Change
Total Liabilities & Shareholders Equity $15.92M $14.51M $4.141M
YoY Change 284.53% 328.0%

Cashflow Statement

Concept 2022 Q4 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$174.9K $24.58K $235.8K
YoY Change -174.17% -205.18%
Depreciation, Depletion And Amortization $172.4K $60.23K $60.41K
YoY Change 185.35% 23.42%
Cash From Operating Activities -$13.57K -$117.4K $435.1K
YoY Change -103.12% -1482.45%
INVESTING ACTIVITIES
Capital Expenditures -$190.2K -$122.1K -$18.82K
YoY Change 910.89% 26.29%
Acquisitions
YoY Change
Other Investing Activities -$884.7K $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.075M -$122.1K -$18.82K
YoY Change 5611.9% 463.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -41.70K 10.55M -58.36K
YoY Change -28.55% -18008.46%
NET CHANGE
Cash From Operating Activities -13.57K -117.4K 435.1K
Cash From Investing Activities -1.075M -122.1K -18.82K
Cash From Financing Activities -41.70K 10.55M -58.36K
Net Change In Cash -1.130M 10.31M 357.9K
YoY Change -415.8% -14399.14%
FREE CASH FLOW
Cash From Operating Activities -$13.57K -$117.4K $435.1K
Capital Expenditures -$190.2K -$122.1K -$18.82K
Free Cash Flow $176.7K $4.730K $453.9K
YoY Change -61.08% -95.5%

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btbd Acquisition Of Net Assets Of Pie In The Sky Coffee And Bakery
AcquisitionOfNetAssetsOfPieInTheSkyCoffeeAndBakery
1159600 usd
btbd Acquisition Of Net Assets Of Pie In The Sky Coffee And Bakery
AcquisitionOfNetAssetsOfPieInTheSkyCoffeeAndBakery
0 usd
btbd Acquisition Of Net Assets Of Village Bier Garten
AcquisitionOfNetAssetsOfVillageBierGarten
690000 usd
btbd Acquisition Of Net Assets Of Village Bier Garten
AcquisitionOfNetAssetsOfVillageBierGarten
0 usd
btbd Investment In Bagger Daves Burger Tavern Inc
InvestmentInBaggerDavesBurgerTavernInc
1260000 usd
btbd Investment In Bagger Daves Burger Tavern Inc
InvestmentInBaggerDavesBurgerTavernInc
0 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
349739 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
85821 usd
btbd Investment In Related Company
InvestmentInRelatedCompany
229000 usd
btbd Investment In Related Company
InvestmentInRelatedCompany
0 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
808619 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
6602 usd
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5653560 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-85821 usd
btbd Proceeds From Long Term Debt
ProceedsFromLongTermDebt
0 usd
btbd Proceeds From Long Term Debt
ProceedsFromLongTermDebt
3107100 usd
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
125738 usd
us-gaap Proceeds From Repayments Of Long Term Debt And Capital Securities
ProceedsFromRepaymentsOfLongTermDebtAndCapitalSecurities
-3113521 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
74866 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 usd
us-gaap Net Income Loss
NetIncomeLoss
-224531 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
10580988 usd
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-702323 usd
btbd Shares Issued For Fractional Holding Amount
SharesIssuedForFractionalHoldingAmount
0 usd
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
49699 usd
btbd Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
0 usd
btbd Payment Of Deferred Offering Costs
PaymentOfDeferredOfferingCosts
-31823 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50872 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-87943 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-5219928 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
757568 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12385632 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1321244 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
7165704 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2078812 usd
us-gaap Interest Paid
InterestPaid
84049 usd
us-gaap Interest Paid
InterestPaid
127800 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
209088 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
88006 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
10628353 usd
us-gaap Share Based Compensation
ShareBasedCompensation
102300 usd
btbd Shares Issued In Exercise Of Warrants Amount
SharesIssuedInExerciseOfWarrantsAmount
74866 usd
us-gaap Net Income Loss
NetIncomeLoss
583267 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-119056 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
10726994 usd
CY2022Q4 us-gaap Share Based Compensation
ShareBasedCompensation
28900 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-174906 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
10580988 usd
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
-354883 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
235827 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-119056 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and the differences could be material.</p>
CY2022Q4 btbd Common Shares
CommonShares
11095085 shares
btbd Ownership Percentage
OwnershipPercentage
0.412 pure
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1260000 usd
us-gaap Fiscal Period
FiscalPeriod
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">BT Brand's fiscal year is a 52/53-week year, ending on the Sunday closest to December 31. Most years consist of four 13-week accounting periods comprising a 52-week year. Fiscal 2022 is a 52-week year ending January 1, 2023, and fiscal 2021 was a 52-week year ending January 2, 2022.</p>
us-gaap Lease Cost
LeaseCost
808619 usd
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
653399 usd
us-gaap Finite Lived Intangible Assets Remaining Amortization Period1
FiniteLivedIntangibleAssetsRemainingAmortizationPeriod1
P4Y
CY2022Q4 us-gaap Commercial Paper At Carrying Value
CommercialPaperAtCarryingValue
0 usd
CY2022Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
258751 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
-44500 usd
CY2022Q4 btbd Business Acquisition Percentage Of Voting Interests Granted As Consideration To Related Party
BusinessAcquisitionPercentageOfVotingInterestsGrantedAsConsiderationToRelatedParty
0.275 pure
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
590000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
545500 usd
CY2022Q4 us-gaap Land
Land
485239 usd
CY2022Q1 us-gaap Land
Land
485239 usd
CY2022Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
3901165 usd
CY2022Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
2674529 usd
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2351188 usd
CY2022Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
1322085 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6737592 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4481853 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2937348 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2630764 usd
CY2022Q4 btbd Less Property Held For Sale
LessPropertyHeldForSale
-258751 usd
CY2022Q1 btbd Less Property Held For Sale
LessPropertyHeldForSale
-258751 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3541493 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1592338 usd
us-gaap Depreciation
Depreciation
306584 usd
us-gaap Depreciation
Depreciation
172261 usd
CY2022Q4 btbd Accrued Real Estate Taxes
AccruedRealEstateTaxes
105972 usd
CY2022Q1 btbd Accrued Real Estate Taxes
AccruedRealEstateTaxes
103615 usd
CY2022Q4 btbd Accrued Bonus Compensation
AccruedBonusCompensation
59139 usd
CY2022Q1 btbd Accrued Bonus Compensation
AccruedBonusCompensation
7000 usd
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
155395 usd
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
44700 usd
CY2022Q4 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
11884 usd
CY2022Q1 us-gaap Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
8424 usd
CY2022Q4 btbd Accrued Sales Taxes Payable
AccruedSalesTaxesPayable
89150 usd
CY2022Q1 btbd Accrued Sales Taxes Payable
AccruedSalesTaxesPayable
50414 usd
CY2022Q4 us-gaap Accrued Vacation Current
AccruedVacationCurrent
17663 usd
CY2022Q1 us-gaap Accrued Vacation Current
AccruedVacationCurrent
17663 usd
CY2022Q4 btbd Accured Gift Card Liability
AccuredGiftCardLiability
26239 usd
CY2022Q1 btbd Accured Gift Card Liability
AccuredGiftCardLiability
10036 usd
CY2022Q4 btbd Accured Franchise Royality
AccuredFranchiseRoyality
6681 usd
CY2022Q1 btbd Accured Franchise Royality
AccuredFranchiseRoyality
2614 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
18504 usd
CY2022Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9875 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
490627 usd
CY2022Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
254341 usd
btbd Number Of Options Exercised
NumberOfOptionsExercised
0 shares
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2910483 usd
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3049971 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-42949 usd
CY2022Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
-46999 usd
CY2022Q4 btbd Current Maturities Notes Payable
CurrentMaturitiesNotesPayable
-169504 usd
CY2022Q1 btbd Current Maturities Notes Payable
CurrentMaturitiesNotesPayable
-169908 usd
CY2022Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2698030 usd
CY2022Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
2833064 usd
btbd Common Shares Reserved For Issuance
CommonSharesReservedForIssuance
250000 shares
btbd Shares Available For A Grant
SharesAvailableForAGrant
13400 shares
CY2022Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
15000 shares
CY2022Q1 btbd Exercisable Price
ExercisablePrice
5
btbd Granted Options To Purchase
GrantedOptionsToPurchase
220750 shares
btbd Purchase Price Per Shares
PurchasePricePerShares
2.50
btbd Companys Stock Optionstabletextblock
CompanysStockOptionstabletextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>  Number of </strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Weighted Average</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Weighted Average Remaining Term</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Aggregate</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Intrinsic</strong></p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px"><td><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Options</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Exercise Price</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>(In Years)</strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="hdcell" colspan="2" style="BORDER-BOTTOM: 1px solid;width:9%;vertical-align:bottom;text-align:center;"><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:center;"><strong>Value </strong></p></td><td style="PADDING-BOTTOM: 1px;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Options outstanding at January 2, 2022</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">15,000</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">5.00</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">9.3</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">0</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Granted</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">220,750</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">2.50</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"/><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">0</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Exercised</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">0</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">0</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Canceled, forfeited, or expired</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">(8,200 </td><td style="PADDING-BOTTOM: 1px;width:1%;vertical-align:bottom;white-space: nowrap;">)</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">2.50</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Options outstanding at October 2, 2022</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">227,550</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">2.67</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">9.8</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"/><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">0</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Options exercisable at October 2, 2022</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">59,150</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">3.18</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">9.7</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="BORDER-BOTTOM: black 1px solid;width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="BORDER-BOTTOM: black 1px solid;width:9%;vertical-align:bottom;text-align:right;">0</td><td style="PADDING-BOTTOM: 1px;width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr></tbody></table>
btbd Number Of Options Begining Balance
NumberOfOptionsBeginingBalance
15000 shares
btbd Weighted Average Exercise Price Begining
WeightedAverageExercisePriceBegining
5.00
btbd Remaining Contract Term Begining
RemainingContractTermBegining
P9Y3M18D
btbd Aggregate Intrinsic Value Begining
AggregateIntrinsicValueBegining
0 usd
btbd Number Of Options Granted
NumberOfOptionsGranted
220750 shares
btbd Weighted Average Exercise Price Granted
WeightedAverageExercisePriceGranted
2.50
btbd Aggregate Intrinsic Value Granted
AggregateIntrinsicValueGranted
0 usd
btbd Number Of Options Canceled Forfeited Or Expired
NumberOfOptionsCanceledForfeitedOrExpired
-8200 shares
btbd Weighted Average Exercise Price Canceled Forfeited Or Expired
WeightedAverageExercisePriceCanceledForfeitedOrExpired
2.50
btbd Number Of Options Ending Balance
NumberOfOptionsEndingBalance
227550 shares
btbd Weighted Average Exercise Price Ending Balance
WeightedAverageExercisePriceEndingBalance
2.67
btbd Remaining Contract Term Ending
RemainingContractTermEnding
P9Y9M18D
btbd Aggregate Intrinsic Value Ending
AggregateIntrinsicValueEnding
0 usd
btbd Numbeer Of Options Exercisable
NumbeerOfOptionsExercisable
59150 shares
btbd Long Term Debt Noncurrent E835 F90 Dc0 D7
LongTermDebtNoncurrentE835F90DC0D7
3.18
btbd Remaining Contract Term Exercisable
RemainingContractTermExercisable
P9Y8M12D
btbd Aggregate Intrinsic Value Exercisable
AggregateIntrinsicValueExercisable
0 usd
btbd Estimate The Fair Value Of The Stock Options Tabletextblock
EstimateTheFairValueOfTheStockOptionsTabletextblock
<table cellpadding="0" style="border-spacing:0;text-align:left;font:10pt times new roman;width:100%"><tbody><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Fair value of options granted during the period</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">1.39</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Expected life (in years)</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">4.83</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Expected dividend</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">$</td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">-</td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td></tr><tr style="height:15px;background-color:#ffffff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Expected stock volatility</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">63</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr><tr style="height:15px;background-color:#cceeff"><td style="vertical-align:top;"><p style="font-size:10pt;font-family:times new roman;margin:0px">Risk-free interest rate</p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td style="width:1%;white-space: nowrap;"><p style="font-size:10pt;font-family:times new roman;margin:0px"> </p></td><td class="ffcell" style="width:9%;vertical-align:bottom;text-align:right;">2</td><td style="width:1%;vertical-align:bottom;white-space: nowrap;">%</td></tr></tbody></table>
btbd Fair Value Of Options Granted During The Period
FairValueOfOptionsGrantedDuringThePeriod
1.39
btbd Expected Life In Years
ExpectedLifeInYears
P4Y9M29D
us-gaap Investment Income Dividend
InvestmentIncomeDividend
0 usd
btbd Expected Stock Volatility
ExpectedStockVolatility
0.63 pure
btbd Risk Free Interest Rate
RiskFreeInterestRate
0.02 pure
CY2022Q1 btbd Granted Options To Purchase
GrantedOptionsToPurchase
250000 shares
CY2022Q1 btbd Purchase Price Per Shares
PurchasePricePerShares
8.50
CY2022Q1 btbd Trading Days
TradingDays
P20Y
btbd Restaurant Space
RestaurantSpace
2800 sqft
btbd Monthly Lease Payment
MonthlyLeasePayment
5000 usd
CY2016Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
624000 usd
btbd Present Value Discounted
PresentValueDiscounted
0.04 pure
btbd Remaining Lease Obligation
RemainingLeaseObligation
597836 usd
btbd Incremental Borrowing Rate
IncrementalBorrowingRate
0.04 pure
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
69600 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
281676 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
289236 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
297909 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
306838 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
531553 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1776812 usd
CY2022Q4 btbd Operating Leases Future Minimum Interest
OperatingLeasesFutureMinimumInterest
-205366 usd
CY2022Q4 btbd Present Value Of Lease Payments
PresentValueOfLeasePayments
1571446 usd
us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
0.08 pure
CY2022Q4 us-gaap Investment Sold Not Yet Purchased Balance Shares
InvestmentSoldNotYetPurchasedBalanceShares
57250 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.65

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