v3.26.1

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($)	Mar. 28, 2026	Dec. 27, 2025
Current Assets:
Cash and cash equivalents	$ 19,828,300	$ 10,295,700
Restricted cash	100,000	165,000
Receivables, less allowance for credit losses of $500 and $500	2,002,500	1,483,500
Income tax receivable		463,600
Inventories	421,400	362,500
Prepaid expenses	2,698,800	1,325,700
Total current assets	25,051,000	14,096,000
Property and equipment:
Property and equipment, net	1,138,400	1,219,000
Operating lease right of use asset	1,670,700	1,761,500
Intangible assets, net	2,197,800	2,286,300
Goodwill	607,500	607,500
Other assets	525,400	506,400
Deferred income taxes	4,407,400	4,407,400
Total assets	35,598,200	24,884,100
Current Liabilities:
Accounts payable	1,057,500	1,673,900
Income tax payable	1,919,100
Accrued liabilities	4,496,800	2,324,800
Deferred revenue	1,654,700	1,667,300
Total current liabilities	9,128,100	5,666,000
Long-term Liabilities:
Line of credit/Term loan	30,000,000	30,000,000
Notes payable, net of unamortized debt issuance costs of $34,400 and $39,000	29,965,600	29,961,000
Deferred revenue	8,307,000	8,350,100
Operating lease liabilities	2,235,800	2,414,200
Other liabilities	2,170,400	2,175,200
Total long-term liabilities	72,678,800	72,900,500
Shareholders' Equity (Deficit):
Common stock, no par value, 10,000,000 shares authorized, 3,577,671 and 3,571,861 shares issued and outstanding	21,260,800	19,612,800
Retained earnings (accumulated deficit)	(67,469,500)	(73,295,200)
Total shareholders' equity (deficit)	(46,208,700)	(53,682,400)
Total liabilities and shareholders' equity (deficit)	$ 35,598,200	$ 24,884,100

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

WINMARK CORP 10-Q