v3.25.2
INTANGIBLE ASSETS
 6 Months Ended
Jun. 29, 2025
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 2 – INTANGIBLE ASSETS

 

At June 29, 2025, and December 29, 2024, the value of acquired Intangible Assets being amortized are the following:

 

June 29, 2025-

 

Estimated Life

(Years)

 

 

Original Cost

 

 

Accumulated

Amortization

 

 

Net Carrying Value

 

Covenants not to Compete

 

 

3

 

 

$157,000

 

 

$(94,662)

 

$62,338

 

Tradenames

 

 

15

 

 

 

344,000

 

 

 

(74,630)

 

 

269,370

 

 

 

 

 

 

 

$501,000

 

 

$(169,292)

 

$331,708

 

 

December 29, 2024-

 

Estimated Life

(Years)

 

 

Original Cost

 

 

Accumulated

Amortization

 

 

Net Carrying Value

 

Covenants not to Compete

 

 

3

 

 

$198,000

 

 

$(103,135)

 

$94,865

 

Tradenames

 

 

15

 

 

 

393,000

 

 

 

(70,988)

 

 

322,012

 

Impairment charge

 

 

 

 

 

 

-

 

 

 

-

 

 

 

(49,078)

 

 

 

 

 

 

$591,000

 

 

$(174,123)

 

$367,799

 

 

On January 2, 2025, the Company closed its Village Bier Garten location. In connection with the closure, the Company recognized the impairment of Village Bier Garten assets in 2024. 

 

The total amortization of intangible assets, including the covenants not to compete, will approximate $62,600 in 2025, $56,300 in 2026, $36,800 in 2027, and $23,000 per year through 2036 and approximately $5,600 in 2037.

 

The total amortization expense was $19,625 and $36,091, respectively, for the 13-week and 26-week periods in 2025.  The amortization expense was $37,800 and $63,950, respectively, for the 13-week and 26-week periods in 2024.