On November 28, 2022, BT Brands Inc announced that it has engaged in a discussions with a member of the board of the Noble Roman's Inc regarding possible financing alternatives available to the Issuer, including a discussion by the BT Brands as to possible approaches to refinance on better terms the Company's $8.5 million senior secured promissory note that bears interest at the rate estimated to be approximately 18% per annum requiring the Company to make monthly payments of $33,000 beginning in February 2023. In addition, BT Brands announced that it considering engaging, and may engage, in communications and discussions with the Company, members of the board and management of the Issuer, other current or prospective shareholders of the Issuer, investment and financing professionals, industry analysts and other interested parties regarding a variety of matters relating to the Issuer, including operations, strategy, plans or prospects, financial performance, corporate governance, management, accounting and other matters.