NOBLE ROMANS INC

NOBLE ROMANS INC sells and services franchises and licenses, and operates Company-owned stand-alone restaurants and non-traditional foodservice operations. The company, incorporated in Indiana in 1972, operates under the trade names "Noble Roman's Craft Pizza & Pub," "Noble Roman's Pizza," "Noble Roman's Take-N-Bake," and "Tuscano's Italian Style Subs." The Company includes Noble Roman's, Inc. and its two wholly-owned subsidiaries, RH Roanoke, Inc. and Pizzaco, Inc. RH Roanoke, Inc. operates a Company-owned non-traditional location, while Pizzaco, Inc. is currently dormant. NOBLE ROMANS INC has been operating, franchising, and licensing Noble Roman's Pizza operations in various stand-alone and non-traditional locations across the country since 1972. The company is currently experiencing significant growth in the number of non-traditional franchised locations. The first Noble Roman's Craft Pizza & Pub location opened in 2017 as a Company-operated restaurant in a northern suburb of Indianapolis, Indiana. Between 2017 and 2021, the Company opened eight more Company-operated locations, totaling nine Company-operated locations. The Noble Roman's Craft Pizza & Pub format offers approximately 40 different toppings, cheeses, and sauces. The COVID-19 pandemic materially affected the Company's franchising operations, beginning in the first quarter of 2020.