BAB, INC. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>BAB, INC. has filed its Q1 2024 10-Q report, detailing financial performance and operational updates.</b>

AI Summary

BAB, INC. (BABB) filed a Quarterly Report (10-Q) with the SEC on April 12, 2024. BAB, INC. filed a 10-Q for the period ending February 29, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on November 30. The filing was made on April 12, 2024. The company's principal business is in Retail - Eating Places (SIC 5812).

Why It Matters

For investors and stakeholders tracking BAB, INC., this filing contains several important signals. This 10-Q filing provides investors with a quarterly update on BAB, INC.'s financial health and operational performance, crucial for assessing investment value. Understanding the details within this report allows stakeholders to monitor the company's progress against its strategic goals and market position in the eating places sector.

Risk Assessment

Risk Level: low — BAB, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends and operational performance for Q1 2024.

Key Numbers

• 2024-02-29 — Period End Date (Quarterly report period)
• 2024-04-12 — Filing Date (Date the report was filed)
• 1130 — Fiscal Year End (Company's fiscal year end month and day)
• 5812 — SIC Code (Standard Industrial Classification for Retail-Eating Places)

Key Players & Entities

• BAB, INC. (company) — Filer name
• BABB (company) — Ticker symbol
• 2024-02-29 (date) — Period of report
• 2024-04-12 (date) — Filing date
• DEERFIELD, IL (location) — Business address city and state
• 500 LAKE COOK ROAD (address) — Business street address

FAQ

Industry Context

BAB, INC. operates within the Retail - Eating Places sector, a segment of the broader food service industry.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Examine any disclosed risk factors or management discussion and analysis for insights into business operations.
3. Compare current quarter performance to historical data and industry benchmarks.

Key Dates

• 2024-02-29: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-12: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the annual report (10-K) for the fiscal year ended November 30, 2023.

Filing Documents

• babs20240228_10q.htm (10-Q) — 648KB
• ex_650698.htm (EX-21.1) — 1KB
• ex_650699.htm (EX-31.1) — 11KB
• ex_650700.htm (EX-31.2) — 12KB
• ex_650701.htm (EX-32.1) — 4KB
• ex_650702.htm (EX-32.2) — 4KB
• 0001437749-24-011861.txt (&nbsp;) — 4593KB
• babb-20240229.xsd (EX-101.SCH) — 48KB
• babb-20240229_cal.xml (EX-101.CAL) — 45KB
• babb-20240229_def.xml (EX-101.DEF) — 286KB
• babb-20240229_lab.xml (EX-101.LAB) — 268KB
• babb-20240229_pre.xml (EX-101.PRE) — 315KB
• babs20240228_10q_htm.xml (XML) — 780KB

Financial Statements

Financial Statements 3 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 22 Item 4

Controls and Procedures

Controls and Procedures 22 PART II OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings 23 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3 Defaults Upon Senior Securities 23 Item 4 Mine Safety Disclosures 23 Item 5 Other Information 23 Item 6 Exhibits 24 SIGNATURE 25 2 PART I ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS BAB, Inc. Consolidated Balance Sheets February 29, 2024 November 30, 2023 (unaudited) (audited) ASSETS Current Assets Cash $ 1,890,204 $ 1,888,728 Restricted cash 229,520 183,944 Receivables Trade accounts and notes receivable (net of allowance for doubtful accounts of $ 51,455 in 2024 and $ 28,873 in 2023) 68,696 71,681 Marketing fund contributions receivable from franchisees and stores 15,702 14,995 Lease receivable 5,919 5,900 Prepaid expenses and other current assets 93,039 96,544 Total Current Assets 2,303,080 2,261,792 Property, plant and equipment (net of accumulated depreciation of $ 159,414 in both 2024 and 2023. - - Lease receivable 30,918 32,406 Trademarks 461,445 461,445 Goodwill 1,493,771 1,493,771 Definite lived intangible assets (net of accumulated amortization of $ 139,521 in 2024 and $ 138,541 in 2023) 15,365 16,345 Operating lease right of use 409,669 32,745 Total Noncurrent Assets 2,411,168 2,036,712 Total Assets $ 4,714,248 $ 4,298,504 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 49,876 $ 3,042 Income tax payable 108,125 47,334 Accrued expenses and other current liabilities 311,833 325,880 Unexpended marketing fund contributions 231,547 201,824 Deferred franchise fee revenue 24,395 30,094 Current portion operating lease liability 48,383 39,818 Total Current Liabilities 774,159 647,992 Long-term Liabilities (net of current portion) Operating lease liability 363,055 - Deferred franchise revenue 157,104 162,026 Deferred tax liability 287,502 309,293 Total Long-term Liabilities 807,661 471,319 Total Liabilities $ 1,581,820 $ 1,119,311 Stockholders' Equity Preferred shares -$ .001 par value; 4,000,000 authorized; no shares outstanding as of February 29, 2024 and November 30, 2023 - - Preferred shares -$ .001 par value; 1,000,000 Series A

View Full Filing

View this 10-Q filing on SEC EDGAR