On February 28, 2014, Jeffrey M. Gorden resigned as Chief Financial Officer and Treasurer of BAB, Inc. Mr. Gorden has accepted a position with another company and his resignation from the company will be effective March 21, 2014. Gorden is leaving for another opportunity and has no disputes or issues with company management or Sassetti LLC, the independent registered public accounting firm for the Company. On March 1, 2014, the Company appointed its Controller, Ms. Geraldine Conn, as Chief Financial Officer and Treasurer, effective March 21, 2014.
She has 12 years of experience with the Company, including as Controller of BAB, Inc. since 2008, and she has over 25 years of financial leadership experience.
BAB, Inc. franchises and licenses bagel and muffin retail units under the BAB, MFM and SweetDuet (SD) trade names. The Company has approximately 63 franchise units and four licensed units in operation in 20 states. The BAB franchised brand consists of units operating as Big Apple Bagels, featuring daily baked bagels, flavored cream cheeses, premium coffees, gourmet bagel sandwiches and other related products. BAB units are concentrated in the Midwest and Western United States. The MFM brand consists of units operating as My Favorite Muffin Gourmet Muffin Bakery (MFM Bakery), featuring a variety of freshly baked muffins and coffees and units operating as My Favorite Muffin Your All Day Bakery Cafe, featuring these products and a variety of specialty bagel sandwiches and related products. The SweetDuet is a branded self-serve frozen yogurt that can be added as an additional brand in a BAB location. Its subsidiaries include BAB Systems, Inc., BAB Operations, Inc. and BAB Investments, Inc.