secwatch.observer — SEC 8-K summary
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Issuer:     BT Brands, Inc. (BTBD)
CIK:        0001718224
Form:       8-K/A
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0001477932-22-005434
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718224/000147793222005434/0001477932-22-005434-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718224/000147793222005434/btbd_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001477932-22-005434

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