BAB, Inc. Files Q2 2024 10-Q

TL;DR

BAB, Inc. 10-Q filed for Q2 2024, showing preferred stock and dividend info.

AI Summary

BAB, Inc. filed its 10-Q for the period ending May 31, 2024, reporting on its financial performance. The filing details various corporate actions and financial data, including preferred stock rights and quarterly dividends, with the company's fiscal year ending on November 30th.

Why It Matters

This filing provides investors with an update on BAB, Inc.'s financial health and operational status for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative disclosures.

Key Numbers

• 000-31555 — SEC File Number (Identifies the company's filing history with the SEC.)
• 1130 — Fiscal Year End (Indicates when the company's fiscal year concludes.)

Key Players & Entities

• BAB, INC. (company) — Filer of the 10-Q
• 20240531 (date) — End of the reporting period
• 20240712 (date) — Filing date
• 500 LAKE COOK ROAD, SUITE 475, DEERFIELD, IL 60015 (address) — Company's business and mailing address
• 847 948-7520 (phone_number) — Company's business phone number

FAQ

Filing Documents

• babs20240531_10q.htm (10-Q) — 758KB
• ex_695656.htm (EX-21.1) — 1KB
• ex_695655.htm (EX-31.1) — 13KB
• ex_695654.htm (EX-31.2) — 13KB
• ex_695653.htm (EX-32.1) — 4KB
• ex_695652.htm (EX-32.2) — 6KB
• 0001437749-24-022597.txt ( ) — 4922KB
• babb-20240531.xsd (EX-101.SCH) — 49KB
• babb-20240531_def.xml (EX-101.DEF) — 282KB
• babb-20240531_lab.xml (EX-101.LAB) — 270KB
• babb-20240531_pre.xml (EX-101.PRE) — 313KB
• babb-20240531_cal.xml (EX-101.CAL) — 45KB
• babs20240531_10q_htm.xml (XML) — 886KB

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 23 Item 4

Controls and Procedures

Controls and Procedures 23 PART II OTHER INFORMATION 24 Item 1.

Legal Proceedings

Legal Proceedings 24 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3 Defaults Upon Senior Securities 24 Item 4 Mine Safety Disclosures 24 Item 5 Other Information 24 Item 6 Exhibits 25 SIGNATURE 26 2 PART I ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS BAB, Inc. Consolidated Balance Sheets May 31, 2024 November 30, 2023 (unaudited) (audited) ASSETS Current Assets Cash $ 1,937,678 $ 1,888,728 Restricted cash 229,919 183,944 Receivables Trade accounts and notes receivable (net of allowance for doubtful accounts of $ 49,618 in 2024 and $ 28,873 in 2023) 73,131 71,681 Marketing fund contributions receivable from franchisees and stores 18,556 14,995 Lease receivable 5,937 5,900 Prepaid expenses and other current assets 95,813 96,544 Total Current Assets 2,361,034 2,261,792 Property, plant and equipment (net of accumulated depreciation of $ 159,414 in both 2024 and 2023. - - Lease receivable 29,427 32,406 Trademarks 461,445 461,445 Goodwill 1,493,771 1,493,771 Definite lived intangible assets (net of accumulated amortization of $ 140,502 in 2024 and $ 138,541 in 2023) 14,384 16,345 Operating lease right of use 392,664 32,745 Total Noncurrent Assets 2,391,691 2,036,712 Total Assets $ 4,752,725 $ 4,298,504 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 16,502 $ 3,042 Income tax payable 123,747 47,334 Accrued expenses and other current liabilities 307,063 325,880 Unexpended marketing fund contributions 227,237 201,824 Deferred franchise fee revenue 24,166 30,094 Current portion operating lease liability 44,066 39,818 Total Current Liabilities 742,781 647,992 Long-term Liabilities (net of current portion) Operating lease liability 363,071 - Deferred franchise revenue 157,743 162,026 Deferred tax liability 283,653 309,293 Total Long-term Liabilities 804,467 471,319 Total Liabilities $ 1,547,248 $ 1,119,311 Stockholders' Equity Preferred shares -$ .001 par value; 4,000,000 authorized; no shares outstanding as of May 31, 2024 and November 30, 2023 - - Preferred shares -$ .001 par value; 1,000,000 Series A authorized

View Full Filing

View this 10-Q filing on SEC EDGAR