v3.26.1
INTANGIBLE ASSETS
 12 Months Ended
Dec. 28, 2025
INTANGIBLE ASSETS  
INTANGIBLE ASSETS

NOTE 4 – INTANGIBLE ASSETS

 

At year end 2025 and 2024, based on the value of acquired assets, intangible assets comprise the following:

 

December 28, 2025-

 

Estimated

Useful life

(Years)

 

 

Original Cost

 

 

Accumulated Amortization

 

 

Net

Carrying

Value

 

Covenants not to compete

 

3

 

 

$100,000

 

 

$(41,542)

 

$58,458

 

Tradenames

 

15

 

 

 

344,000

 

 

 

(97,188)

 

 

246,812

 

 

 

 

 

 

 

$444,000

 

 

$(138,730)

 

$305,270

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 29, 2024-

 

Estimated

Useful 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 allowance

 

 

 

 

 

 

-

 

 

 

-

 

 

 

(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 an impairment of Village Bier Garten’s intangible assets in 2024.

 

Tradename assets are amortized over 15 years. Total amortization expense for 2025 was approximately $64,000. The total amortization of intangible assets, including the covenants not to compete, will approximate $56,300 in 2026, $36,800 in 2027, $22,900 per year through 2036, and approximately $5,600 in 2037.

 

Total amortization expense of approximately $90,000 for intangible assets in 2024 included $11,660 to write off the intangible asset related to the Company’s former franchise asset upon termination of the franchise agreement. This amount was included in other assets in the 2024 consolidated balance sheet.