Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries BT Brands Reports First Quarter 2024 Results By: BT Brands, Inc. via Business Wire May 15, 2024 at 16:00 PM EDT Acquisition of Schnitzel Haus Completed BT Brands, Inc. (Nasdaq: BTBD and BTBDW), today reported its financial results for the first quarter, the thirteen weeks ending March 31, 2024. Including our 40% ownership of Bagger Dave’s Burger Tavern with six locations (OTCMarkets: BDVB), BT Brands currently operates a total of seventeen restaurants comprising the following: Eight Burger Time fast-food restaurants; located in the North Central region of the United States, collectively (“BTND”); Bagger Dave’s Burger Tavern, Inc., a 40% owned affiliate, operates six Bagger Dave’s restaurants in Michigan, Ohio, and Indiana (“Bagger Dave’s”); Keegan’s Seafood Grille in Indian Rocks Beach, Florida (“Keegan’s”); Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts (“PIE”). Village Bier Garten, a German-themed restaurant, bar, and entertainment venue in Cocoa, Florida (“VBG”). Effective May 13, 2024, the Company completed the purchase of the upscale Schnitzel Haus restaurant, www.schnitzelhaushobesound.com located in Hobe Sound, near Stuart, Florida Highlights and recent activities include: Total revenues for the 2024 period increased 3.9% over 2023 to $3.2 million; Operating loss for the year declined to a loss of $631,000 from an operating loss of $251,000 in 2023; Net loss attributable to common shareholders was $445,700, or $.07 per share for the year; Restaurant-level adjusted EBITDA (a non-GAAP measure) for the year declined to a loss of $15,672 in 2024 from a profit of $24,946 in the same period in 2023; Our equity in the first quarter loss of our Bagger Dave’s affiliate was $94,500; We ended the quarter with $6.1 million in total cash and short-term investments down from $6.9 million one year ago; First quarter results for 2023 include a pre-tax gain of $313,000 from the sale of a former Burger Time property in West St. Paul Gary Copperud, the Company’s Chief Executive Officer, said, “The first quarter is seasonally slower for our Burger Time and Pie in the Sky businesses; we were disappointed in our performance during the first quarter this year and have taken a number of steps to reduce costs and improve performance in all of our businesses. Overall, we continue to see inflationary pressure on our cost of sales inputs. There are persistent challenges with staffing, which, although staffing pressure is lessening as labor markets are more favorable, upward pressure on labor costs continues. As we look toward the balance of 2023, we remain focused on achieving profitability consistent with our expectations.” Schnitzel Haus Acquisition Effective May 13, 3024, we acquired the assets of the approximately 175-seat upscale Schnitzel Haus restaurant in Hobe Sound, Florida. The retirement of the previous owners presented BT Brands with an opportunity to acquire a business with robust cash flow at a particularly low multiple. Considerable upside exists as the prior owners had significantly limited the serving hours. There are several potential opportunities available to grow the business. Fiscal 2024 Outlook: Because of the uncertain nature of the performance of recent acquisitions and the evolving character of our Company and because of continuing uncertainty surrounding public health concerns, impacts of supply chain constraints, and the current inflationary environment, the Company is not at this point, providing a financial forecast for fiscal 2024. About BT Brands Inc.: BT Brands, Inc. (BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time with locations in North and South Dakota and Minnesota. In addition, the Company owns the Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, the Village Bier Garten in Cocoa, Florida, Keegan’s Seafood Grille near Clearwater, Florida and Schnitzel Haus in Hobe Sound, Florida. BT Brands is seeking acquisitions within the restaurant industry. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding guidance relating to net income and net income per share, expected operating results, such as revenue growth and earnings, anticipated levels of capital expenditures for the 2024 fiscal year, Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. BT BRANDS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 13 Weeks Ended, 13 Weeks Ended, March 31, 2024 April 2, 2023 SALES $ 3,190,147 $ 3,070,799 COSTS AND EXPENSES Restaurant operating expenses Food and paper costs 1,278,958 1,290,323 Labor costs 1,386,686 1,202,760 Occupancy costs 336,275 357,125 Other operating expenses 203,900 195,614 Depreciation and amortization expenses 160,542 163,507 General and administrative expenses 454,615 425,915 Gain on sale of assets held for sale - (313,688 ) Total costs and expenses 3,820,976 3,321,556 Loss from operations (630,829 ) (250,758 ) UNREALIZED GAIN ON MARKETABLE SECURITIES 114,763 69,856 INTEREST EXPENSE (27,488 ) (25,533 ) INTEREST AND DIVIDEND INCOME 74,854 89,048 EQUITY IN LOSS OF AFFILIATE (94,500 ) (54,399 ) LOSS BEFORE TAXES (563,200 ) (141,786 ) INCOME TAX BENEFIT 117,500 30,000 NET LOSS $ (445,700 ) $ (141,786 ) NET LOSS PER COMMON SHARE - Basic and Diluted $ (0.07 ) $ (0.02 ) WEIGHTED AVERAGE SHARES USED IN COMPUTING PER COMMON SHARE AMOUNTS - Basic and Diluted 6,246,118 6,280,729 BT BRANDS, INC., AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS Unaudited March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS Cash and equivalents $ 4,668,295 $ 5,300,446 Marketable securities 1,458,213 1,392,060 Receivables 13,263 28,737 Inventory 226,218 201,333 Prepaid expenses and other current assets 77,824 47,246 Assets held for sale 258,751 258,751 Total current assets 6,702,564 7,228,573 PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET 3,225,456 3,247,013 OPERATING LEASES RIGHT-OF-USE ASSETS 1,732,525 1,789,285 INVESTMENTS 928,306 1,022,806 DEFERRED INCOME TAXES 323,500 206,000 GOODWILL 671,220 671,220 INTANGIBLE ASSETS, NET 368,970 395,113 OTHER ASSETS, NET 48,776 49,202 Total assets $ 14,001,317 $ 14,609,212 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 629,504 $ 555,247 Broker margin loan - 115,899 Current maturities of long-term debt 171,782 183,329 Current operating lease obligations 213,995 215,326 Accrued expenses 399,906 480,289 Total current liabilities 1,415,187 1,550,090 LONG-TERM DEBT, LESS CURRENT PORTION 2,237,610 2,269,771 NONCURRENT LEASE OBLIGATIONS 1,551,491 1,600,622 Total liabilities 5,204,288 5,420,483 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Preferred stock, $.001 par value, 2,000,000 shares authorized, no shares outstanding - - Common stock, $.002 par value, 50,000,000 authorized, 6,461,118 issued and 6,246,118 shares outstanding at March 31, 2024 and December 31,2023 12,492 12,492 Less cost of 215,000 held in Treasury at March 31, 2024 and December 31, 2023, (357,107 ) (357,107 ) Additional paid-in capital 11,445,135 11,583,235 Accumulated deficit $ (2,495,591 ) (2,049,891 ) Total shareholders' equity 8,797,029 9,188,729 Total liabilities and shareholders' equity $ 14,001,317 $ 14,609,212 Category: Financial Category View source version on businesswire.com: https://www.businesswire.com/news/home/20240515987617/en/Contacts Kenneth Brimmer, 612-229-8811 Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. 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BT Brands Reports First Quarter 2024 Results By: BT Brands, Inc. via Business Wire May 15, 2024 at 16:00 PM EDT Acquisition of Schnitzel Haus Completed BT Brands, Inc. (Nasdaq: BTBD and BTBDW), today reported its financial results for the first quarter, the thirteen weeks ending March 31, 2024. Including our 40% ownership of Bagger Dave’s Burger Tavern with six locations (OTCMarkets: BDVB), BT Brands currently operates a total of seventeen restaurants comprising the following: Eight Burger Time fast-food restaurants; located in the North Central region of the United States, collectively (“BTND”); Bagger Dave’s Burger Tavern, Inc., a 40% owned affiliate, operates six Bagger Dave’s restaurants in Michigan, Ohio, and Indiana (“Bagger Dave’s”); Keegan’s Seafood Grille in Indian Rocks Beach, Florida (“Keegan’s”); Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts (“PIE”). Village Bier Garten, a German-themed restaurant, bar, and entertainment venue in Cocoa, Florida (“VBG”). Effective May 13, 2024, the Company completed the purchase of the upscale Schnitzel Haus restaurant, www.schnitzelhaushobesound.com located in Hobe Sound, near Stuart, Florida Highlights and recent activities include: Total revenues for the 2024 period increased 3.9% over 2023 to $3.2 million; Operating loss for the year declined to a loss of $631,000 from an operating loss of $251,000 in 2023; Net loss attributable to common shareholders was $445,700, or $.07 per share for the year; Restaurant-level adjusted EBITDA (a non-GAAP measure) for the year declined to a loss of $15,672 in 2024 from a profit of $24,946 in the same period in 2023; Our equity in the first quarter loss of our Bagger Dave’s affiliate was $94,500; We ended the quarter with $6.1 million in total cash and short-term investments down from $6.9 million one year ago; First quarter results for 2023 include a pre-tax gain of $313,000 from the sale of a former Burger Time property in West St. Paul Gary Copperud, the Company’s Chief Executive Officer, said, “The first quarter is seasonally slower for our Burger Time and Pie in the Sky businesses; we were disappointed in our performance during the first quarter this year and have taken a number of steps to reduce costs and improve performance in all of our businesses. Overall, we continue to see inflationary pressure on our cost of sales inputs. There are persistent challenges with staffing, which, although staffing pressure is lessening as labor markets are more favorable, upward pressure on labor costs continues. As we look toward the balance of 2023, we remain focused on achieving profitability consistent with our expectations.” Schnitzel Haus Acquisition Effective May 13, 3024, we acquired the assets of the approximately 175-seat upscale Schnitzel Haus restaurant in Hobe Sound, Florida. The retirement of the previous owners presented BT Brands with an opportunity to acquire a business with robust cash flow at a particularly low multiple. Considerable upside exists as the prior owners had significantly limited the serving hours. There are several potential opportunities available to grow the business. Fiscal 2024 Outlook: Because of the uncertain nature of the performance of recent acquisitions and the evolving character of our Company and because of continuing uncertainty surrounding public health concerns, impacts of supply chain constraints, and the current inflationary environment, the Company is not at this point, providing a financial forecast for fiscal 2024. About BT Brands Inc.: BT Brands, Inc. (BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time with locations in North and South Dakota and Minnesota. In addition, the Company owns the Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, the Village Bier Garten in Cocoa, Florida, Keegan’s Seafood Grille near Clearwater, Florida and Schnitzel Haus in Hobe Sound, Florida. BT Brands is seeking acquisitions within the restaurant industry. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding guidance relating to net income and net income per share, expected operating results, such as revenue growth and earnings, anticipated levels of capital expenditures for the 2024 fiscal year, Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. BT BRANDS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 13 Weeks Ended, 13 Weeks Ended, March 31, 2024 April 2, 2023 SALES $ 3,190,147 $ 3,070,799 COSTS AND EXPENSES Restaurant operating expenses Food and paper costs 1,278,958 1,290,323 Labor costs 1,386,686 1,202,760 Occupancy costs 336,275 357,125 Other operating expenses 203,900 195,614 Depreciation and amortization expenses 160,542 163,507 General and administrative expenses 454,615 425,915 Gain on sale of assets held for sale - (313,688 ) Total costs and expenses 3,820,976 3,321,556 Loss from operations (630,829 ) (250,758 ) UNREALIZED GAIN ON MARKETABLE SECURITIES 114,763 69,856 INTEREST EXPENSE (27,488 ) (25,533 ) INTEREST AND DIVIDEND INCOME 74,854 89,048 EQUITY IN LOSS OF AFFILIATE (94,500 ) (54,399 ) LOSS BEFORE TAXES (563,200 ) (141,786 ) INCOME TAX BENEFIT 117,500 30,000 NET LOSS $ (445,700 ) $ (141,786 ) NET LOSS PER COMMON SHARE - Basic and Diluted $ (0.07 ) $ (0.02 ) WEIGHTED AVERAGE SHARES USED IN COMPUTING PER COMMON SHARE AMOUNTS - Basic and Diluted 6,246,118 6,280,729 BT BRANDS, INC., AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS Unaudited March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS Cash and equivalents $ 4,668,295 $ 5,300,446 Marketable securities 1,458,213 1,392,060 Receivables 13,263 28,737 Inventory 226,218 201,333 Prepaid expenses and other current assets 77,824 47,246 Assets held for sale 258,751 258,751 Total current assets 6,702,564 7,228,573 PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET 3,225,456 3,247,013 OPERATING LEASES RIGHT-OF-USE ASSETS 1,732,525 1,789,285 INVESTMENTS 928,306 1,022,806 DEFERRED INCOME TAXES 323,500 206,000 GOODWILL 671,220 671,220 INTANGIBLE ASSETS, NET 368,970 395,113 OTHER ASSETS, NET 48,776 49,202 Total assets $ 14,001,317 $ 14,609,212 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 629,504 $ 555,247 Broker margin loan - 115,899 Current maturities of long-term debt 171,782 183,329 Current operating lease obligations 213,995 215,326 Accrued expenses 399,906 480,289 Total current liabilities 1,415,187 1,550,090 LONG-TERM DEBT, LESS CURRENT PORTION 2,237,610 2,269,771 NONCURRENT LEASE OBLIGATIONS 1,551,491 1,600,622 Total liabilities 5,204,288 5,420,483 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Preferred stock, $.001 par value, 2,000,000 shares authorized, no shares outstanding - - Common stock, $.002 par value, 50,000,000 authorized, 6,461,118 issued and 6,246,118 shares outstanding at March 31, 2024 and December 31,2023 12,492 12,492 Less cost of 215,000 held in Treasury at March 31, 2024 and December 31, 2023, (357,107 ) (357,107 ) Additional paid-in capital 11,445,135 11,583,235 Accumulated deficit $ (2,495,591 ) (2,049,891 ) Total shareholders' equity 8,797,029 9,188,729 Total liabilities and shareholders' equity $ 14,001,317 $ 14,609,212 Category: Financial Category View source version on businesswire.com: https://www.businesswire.com/news/home/20240515987617/en/Contacts Kenneth Brimmer, 612-229-8811
BT Brands, Inc. (Nasdaq: BTBD and BTBDW), today reported its financial results for the first quarter, the thirteen weeks ending March 31, 2024. Including our 40% ownership of Bagger Dave’s Burger Tavern with six locations (OTCMarkets: BDVB), BT Brands currently operates a total of seventeen restaurants comprising the following: Eight Burger Time fast-food restaurants; located in the North Central region of the United States, collectively (“BTND”); Bagger Dave’s Burger Tavern, Inc., a 40% owned affiliate, operates six Bagger Dave’s restaurants in Michigan, Ohio, and Indiana (“Bagger Dave’s”); Keegan’s Seafood Grille in Indian Rocks Beach, Florida (“Keegan’s”); Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts (“PIE”). Village Bier Garten, a German-themed restaurant, bar, and entertainment venue in Cocoa, Florida (“VBG”). Effective May 13, 2024, the Company completed the purchase of the upscale Schnitzel Haus restaurant, www.schnitzelhaushobesound.com located in Hobe Sound, near Stuart, Florida Highlights and recent activities include: Total revenues for the 2024 period increased 3.9% over 2023 to $3.2 million; Operating loss for the year declined to a loss of $631,000 from an operating loss of $251,000 in 2023; Net loss attributable to common shareholders was $445,700, or $.07 per share for the year; Restaurant-level adjusted EBITDA (a non-GAAP measure) for the year declined to a loss of $15,672 in 2024 from a profit of $24,946 in the same period in 2023; Our equity in the first quarter loss of our Bagger Dave’s affiliate was $94,500; We ended the quarter with $6.1 million in total cash and short-term investments down from $6.9 million one year ago; First quarter results for 2023 include a pre-tax gain of $313,000 from the sale of a former Burger Time property in West St. Paul Gary Copperud, the Company’s Chief Executive Officer, said, “The first quarter is seasonally slower for our Burger Time and Pie in the Sky businesses; we were disappointed in our performance during the first quarter this year and have taken a number of steps to reduce costs and improve performance in all of our businesses. Overall, we continue to see inflationary pressure on our cost of sales inputs. There are persistent challenges with staffing, which, although staffing pressure is lessening as labor markets are more favorable, upward pressure on labor costs continues. As we look toward the balance of 2023, we remain focused on achieving profitability consistent with our expectations.” Schnitzel Haus Acquisition Effective May 13, 3024, we acquired the assets of the approximately 175-seat upscale Schnitzel Haus restaurant in Hobe Sound, Florida. The retirement of the previous owners presented BT Brands with an opportunity to acquire a business with robust cash flow at a particularly low multiple. Considerable upside exists as the prior owners had significantly limited the serving hours. There are several potential opportunities available to grow the business. Fiscal 2024 Outlook: Because of the uncertain nature of the performance of recent acquisitions and the evolving character of our Company and because of continuing uncertainty surrounding public health concerns, impacts of supply chain constraints, and the current inflationary environment, the Company is not at this point, providing a financial forecast for fiscal 2024. About BT Brands Inc.: BT Brands, Inc. (BTBD and BTBDW) owns and operates a fast-food restaurant chain called Burger Time with locations in North and South Dakota and Minnesota. In addition, the Company owns the Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts, the Village Bier Garten in Cocoa, Florida, Keegan’s Seafood Grille near Clearwater, Florida and Schnitzel Haus in Hobe Sound, Florida. BT Brands is seeking acquisitions within the restaurant industry. Cautionary Note Regarding Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding guidance relating to net income and net income per share, expected operating results, such as revenue growth and earnings, anticipated levels of capital expenditures for the 2024 fiscal year, Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. BT BRANDS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) 13 Weeks Ended, 13 Weeks Ended, March 31, 2024 April 2, 2023 SALES $ 3,190,147 $ 3,070,799 COSTS AND EXPENSES Restaurant operating expenses Food and paper costs 1,278,958 1,290,323 Labor costs 1,386,686 1,202,760 Occupancy costs 336,275 357,125 Other operating expenses 203,900 195,614 Depreciation and amortization expenses 160,542 163,507 General and administrative expenses 454,615 425,915 Gain on sale of assets held for sale - (313,688 ) Total costs and expenses 3,820,976 3,321,556 Loss from operations (630,829 ) (250,758 ) UNREALIZED GAIN ON MARKETABLE SECURITIES 114,763 69,856 INTEREST EXPENSE (27,488 ) (25,533 ) INTEREST AND DIVIDEND INCOME 74,854 89,048 EQUITY IN LOSS OF AFFILIATE (94,500 ) (54,399 ) LOSS BEFORE TAXES (563,200 ) (141,786 ) INCOME TAX BENEFIT 117,500 30,000 NET LOSS $ (445,700 ) $ (141,786 ) NET LOSS PER COMMON SHARE - Basic and Diluted $ (0.07 ) $ (0.02 ) WEIGHTED AVERAGE SHARES USED IN COMPUTING PER COMMON SHARE AMOUNTS - Basic and Diluted 6,246,118 6,280,729 BT BRANDS, INC., AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS Unaudited March 31, 2024 December 31, 2023 ASSETS CURRENT ASSETS Cash and equivalents $ 4,668,295 $ 5,300,446 Marketable securities 1,458,213 1,392,060 Receivables 13,263 28,737 Inventory 226,218 201,333 Prepaid expenses and other current assets 77,824 47,246 Assets held for sale 258,751 258,751 Total current assets 6,702,564 7,228,573 PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET 3,225,456 3,247,013 OPERATING LEASES RIGHT-OF-USE ASSETS 1,732,525 1,789,285 INVESTMENTS 928,306 1,022,806 DEFERRED INCOME TAXES 323,500 206,000 GOODWILL 671,220 671,220 INTANGIBLE ASSETS, NET 368,970 395,113 OTHER ASSETS, NET 48,776 49,202 Total assets $ 14,001,317 $ 14,609,212 LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 629,504 $ 555,247 Broker margin loan - 115,899 Current maturities of long-term debt 171,782 183,329 Current operating lease obligations 213,995 215,326 Accrued expenses 399,906 480,289 Total current liabilities 1,415,187 1,550,090 LONG-TERM DEBT, LESS CURRENT PORTION 2,237,610 2,269,771 NONCURRENT LEASE OBLIGATIONS 1,551,491 1,600,622 Total liabilities 5,204,288 5,420,483 COMMITMENTS AND CONTINGENCIES SHAREHOLDERS' EQUITY Preferred stock, $.001 par value, 2,000,000 shares authorized, no shares outstanding - - Common stock, $.002 par value, 50,000,000 authorized, 6,461,118 issued and 6,246,118 shares outstanding at March 31, 2024 and December 31,2023 12,492 12,492 Less cost of 215,000 held in Treasury at March 31, 2024 and December 31, 2023, (357,107 ) (357,107 ) Additional paid-in capital 11,445,135 11,583,235 Accumulated deficit $ (2,495,591 ) (2,049,891 ) Total shareholders' equity 8,797,029 9,188,729 Total liabilities and shareholders' equity $ 14,001,317 $ 14,609,212 Category: Financial Category View source version on businesswire.com: https://www.businesswire.com/news/home/20240515987617/en/