Item 8.01 - Entry into a Material Definitive Agreement.
In accordance with the
? The Company is relying on the relief provided by the Order in connection with the filing of its Quarterly on Form 10-Q for the quarter endedMarch 31, 2020 (the "Quarterly Report"). ? In addition to its franchising and licensing operations, the Company operates certain restaurants in theState of Indiana . The Company is also headquartered inIndiana and has a significant portion of its operations in that state. OnMarch 16, 2020 , the Governor ofIndiana ordered that all restaurants and bars in the state be closed for inside dining (the "Executive Order") in order to mitigate the spread of the novel coronavirus (COVID-19). The Executive Order was renewed for 30 additional days effectiveApril 5, 2020 , and then again effectiveMay 5, 2020 . Subsequently, the Governor ofIndiana modified the Executive Order to provide for a staggered reopening of some facilities in certain counties, at limited capacity and with considerable restrictions. COVID-19 and the governmental and consumer response thereto continue to have a significant impact on our business. The Company's response to COVID-19, including addressing the resulting human resource aspects and the transition to delivery- and take-out-only, has consumed, and will continue to consume, a substantial portion of its time and limited resources. Accordingly, our executives and staff have been unable to complete the Quarterly Report in accordance with the Company's standard process. ? The Company currently expects to file the Quarterly Report on or beforeJune 5, 2020 , but in any event no later than 45 days after the original due date for the Quarterly Report. ? For additional information regarding the impact of COVID-19 on the Company and its business, see the risk factors set forth in Part I, Item 1A of its Annual Report on Form 10-K for the year endedDecember 31, 2020 , filed with theSEC onMay 12, 2020 , which are hereby incorporated by reference into this Current Report on Form 8-K.
Forward-Looking Statements
The statements contained in this Current Report on Form 8-K 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 spread of COVID-19 and
governmental and consumer response thereto, competitive factors and pricing
pressures, non-renewal of franchise agreements, shifts in market demand, the
success of new franchise programs, including the new Noble Roman's
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