Noble Roman's Provides Update on Annual 10K

Rhea-AI Summary

Noble Roman's, Inc. provides an update on its annual 10K submission, revealing delays due to new auditors requiring more time. The company assures no additional costs for the extended process and promises to notify the public once the submission is complete.

INDIANAPOLIS, IN / ACCESSWIRE / April 16, 2024 / Noble Roman's, Inc. (OTCQB:NROM), the Indianapolis based franchisor and licensor of Noble Roman's Pizza and Noble Roman's Craft Pizza & Pub ("CPP"), gave an update today regarding the submission of its annual 10K. As previously released in December of 2023, the company has retained new auditors, Assurance Dimensions, who committed to invest additional time, at no additional cost to the company, for the purposes of acclimating to and understanding the company's business. Early in April, Assurance Dimensions notified the company that they required additional time to complete their process; today they indicated they still needed a little more time and that they were working as expeditiously as possible. Noble Roman's will provide a public notification as soon as the submission is complete, along with details on the earnings conference call to be held thereafter.

The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management. The company's actual results in the future may differ materially from those indicated by the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to the continuing after-effects of the COVID-19 pandemic, the ability of franchisees to timely prepare their units for scheduled openings, the company's ability to maintain adequate staff for new openings, competitive factors and pricing and cost pressures, non-renewal of franchise agreements or the openings contemplated by the development agreement not occurring, shifts in market demand, the success of franchise programs, including the Noble Roman's Craft Pizza & Pub format, general economic conditions, changes in demand for the company's products or franchises, the company's ability to service its loans, the impact of franchise regulation, the success or failure of individual franchisees and inflation, other changes in prices or supplies of food ingredients and labor and, as well as the factors discussed under "Risk Factors" contained in this company's Annual Report on Form 10-K for the year ended December 31, 2022. Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. If activist stockholder activities ensue, the company's business could be adversely impacted.

-END-

FOR ADDITIONAL INFORMATION, CONTACT:

For Media Information: Scott Mobley, President & CEO (smobley@nobleromans.com)
For Investor Relations: Paul Mobley, Executive Chairman (pmobley@nobleromans.com)
Mike Cole, Investor Relations: 949-444-1341 (mike.cole@armaadvisoryservices.com)

SOURCE: Noble Romans, Inc.

View the original press release on accesswire.com

FAQ

Why did Noble Roman's provide an update on its annual 10K submission?

Noble Roman's provided an update on its annual 10K submission due to delays caused by new auditors requiring additional time to understand the company's business.

Who are the new auditors retained by Noble Roman's for the annual 10K?

The new auditors retained by Noble Roman's for the annual 10K are Assurance Dimensions.

What did Assurance Dimensions notify Noble Roman's about in early April?

Assurance Dimensions notified Noble Roman's in early April that they required additional time to complete their process.

Will there be any additional costs for Noble Roman's due to the extended process?

Noble Roman's assures that there will be no additional costs for the extended process with the new auditors.

When will Noble Roman's provide a public notification about the completion of the 10K submission?

Noble Roman's will provide a public notification as soon as the submission of the 10K is complete.