BAB, INC. Files Q3 2024 10-Q

TL;DR

BAB, INC. Q3 2024 10-Q filed. Check financials.

AI Summary

BAB, INC. filed its 10-Q for the period ending August 31, 2024, reporting on its third quarter of fiscal year 2024. The company, operating in the 'Retail-Eating Places' sector, is based in Deerfield, IL. The filing details financial performance and operational updates for the period.

Why It Matters

This filing provides investors with the latest financial and operational details for BAB, INC., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks highlighted.

Key Numbers

• 20240831 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20241011 — Filing Date (Shows when the 10-Q was officially submitted to the SEC.)
• 000-31555 — SEC File Number (Unique identifier for the company's filings with the SEC.)

Key Players & Entities

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

FAQ

Filing Documents

• babs20240831_10q.htm (10-Q) — 772KB
• ex_730090.htm (EX-21.1) — 1KB
• ex_730091.htm (EX-31.1) — 13KB
• ex_730092.htm (EX-31.2) — 13KB
• ex_730093.htm (EX-32.1) — 4KB
• ex_730094.htm (EX-32.2) — 4KB
• 0001437749-24-031081.txt ( ) — 5109KB
• babb-20240831.xsd (EX-101.SCH) — 51KB
• babb-20240831_def.xml (EX-101.DEF) — 298KB
• babb-20240831_lab.xml (EX-101.LAB) — 289KB
• babb-20240831_pre.xml (EX-101.PRE) — 330KB
• babb-20240831_cal.xml (EX-101.CAL) — 46KB
• babs20240831_10q_htm.xml (XML) — 909KB

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 Table of Contents PART I ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS BAB, Inc. Consolidated Balance Sheets August 31, 2024 November 30, 2023 (unaudited) (audited) ASSETS Current Assets Cash $ 1,930,770 $ 1,888,728 Restricted cash 270,099 183,944 Receivables Trade accounts and notes receivable (net of allowance for doubtful accounts of $ 48,102 in 2024 and $ 28,873 in 2023) 81,877 71,681 Marketing fund contributions receivable from franchisees and stores 21,611 14,995 Lease receivable 5,956 5,900 Prepaid expenses and other current assets 94,999 96,544 Total Current Assets 2,405,312 2,261,792 Property, plant and equipment (net of accumulated depreciation of $ 159,414 in both 2024 and 2023. - - Lease receivable 27,929 32,406 Trademarks 461,445 461,445 Goodwill 1,493,771 1,493,771 Definite lived intangible assets (net of accumulated amortization of $ 141,483 in 2024 and $ 138,541 in 2023) 13,403 16,345 Operating lease right of use 379,343 32,745 Total Noncurrent Assets 2,375,891 2,036,712 Total Assets $ 4,781,203 $ 4,298,504 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable $ 41,613 $ 3,042 Income tax payable 72,849 47,334 Accrued expenses and other current liabilities 275,229 325,880 Unexpended marketing fund contributions 241,075 201,824 Deferred franchise fee revenue 16,194 30,094 Current portion operating lease liability 45,936 39,818 Total Current Liabilities 692,896 647,992 Long-term Liabilities (net of current portion) Operating lease liability 346,817 - Deferred franchise revenue 161,042 162,026 Deferred tax liability 287,278 309,293 Total Long-term Liabilities 795,137 471,319 Total Liabilities $ 1,488,033 $ 1,119,311 Stockholders' Equity Preferred shares -$ .001 par value; 4,000,000 authorized; no shares outstanding as of August 31, 2024 and November 30, 2023 - - Preferred shares -$ .001 par value; 1,000,000 Series A autho

View Full Filing

View this 10-Q filing on SEC EDGAR