BT Brands completes acquisition of Keegan’s Seafood Grille assets; auditor disclaims opinion on acquired financials

BT Brands, Inc.

Acquired substantially all assets of Keegan’s Seafood Grille, a Florida dine-in seafood restaurant operating 35+ years in Clearwater/St. Petersburg.
Auditor issued disclaimer of opinion on Keegan’s 2021 financials due to inability to verify cash, inventory, fixed assets, and sales tax records.
Company warns historic financials are not indicative of past or future performance due to COVID-19 restrictions and one-time PPP loan forgiveness of $533,310.
Keegan's 2021 revenue $3.37M, net income $916.7k (includes $533k PPP loan forgiveness); total assets $414.9k, equity $330.5k.

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