Noble Romans Inc. Q3 2024 Update

TL;DR

**Noble Romans Q3 2024: $40M assets, convertible notes detailed. Check financials.**

AI Summary

Noble Romans Inc. reported its Q3 2024 results, with total assets valued at $40,000,000 as of September 30, 2024. The company's financial statements for the nine months ended September 30, 2024, show specific figures related to its operations and liabilities, including convertible notes payable. The filing covers the period from January 1, 2024, to September 30, 2024.

Why It Matters

This filing provides insight into Noble Romans Inc.'s financial health and operational performance during the third quarter of 2024, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated.

Key Numbers

• $40.0B — Total Assets (As of September 30, 2024)
• $22.2M — Financial Figure (Related to operations or liabilities)
• $0.9M — Financial Figure (Related to operations or liabilities)

Key Players & Entities

• NOBLE ROMANS INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241113 (date) — Filing Date
• $40,000,000 (dollar_amount) — Total Assets
• 22215512 (dollar_amount) — Specific financial figure
• 934036 (dollar_amount) — Specific financial figure

FAQ

Key Financial Figures

• $180,000 — 2,538 ( after deferring initial fees of $180,000 and amortizing $164,538 of previously d
• $164,538 — initial fees of $180,000 and amortizing $164,538 of previously deferred fees and receivi
• $28,000 — previously deferred fees and receiving $28,000 in transfer fees ) for the nine-month p
• $110,000 — ve reported a net loss of approximately $110,000 . The ERTC refund reflected excess cost

Filing Documents

• nrom_10q.htm (10-Q) — 629KB
• nrom_ex311.htm (EX-31.1) — 9KB
• nrom_ex312.htm (EX-31.2) — 9KB
• nrom_ex321.htm (EX-32.1) — 3KB
• nrom_ex322.htm (EX-32.2) — 4KB
• 0001654954-24-014260.txt ( ) — 2751KB
• nrom-20240930.xsd (EX-101.SCH) — 31KB
• nrom-20240930_lab.xml (EX-101.LAB) — 163KB
• nrom-20240930_cal.xml (EX-101.CAL) — 44KB
• nrom-20240930_pre.xml (EX-101.PRE) — 128KB
• nrom-20240930_def.xml (EX-101.DEF) — 45KB
• nrom_10q_htm.xml (XML) — 296KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

ITEM 1. Financial Statements The following unaudited consolidated financial statements are included herein: Consolidated balance sheets as of December 31, 2023 and September 30, 2024 (unaudited) Page 3 Condensed consolidated statements of operations for the three-month and nine-month periods ended September 30, 2023 and 2024 (unaudited) Page 4 Condensed consolidated statements of changes in stockholders' equity for the three-month periods ended September 30, 2024 and 2023 and nine-month periods ended September 30, 2024 and 2023 (unaudited) Page 5 Condensed consolidated statements of cash flows for the nine-month periods ended September 30, 2023 and 2024 (unaudited) Page 7 Notes to condensed consolidated financial statements (unaudited) Page 8 2 Table of Contents Noble Roman's, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) Assets December 31, 2023 September 30, 2024 Current assets: Cash $ 872,335 $ 551,479 Employee Retention Tax Credit Receivable 507,726 507,726 Accounts receivable - net 1,169,446 782,500 Inventories 965,819 966,285 Prepaid expenses 318,195 162,445 Total current assets 3,833,521 2,970,435 Property and equipment: Equipment 4,386,430 4,443,018 Leasehold improvements 3,130,430 3,141,101 Leasehold improvements, net 7,516,860 7,584,119 Less accumulated depreciation and amortization 3,196,993 3,485,627 Net property and equipment 4,319,867 4,098,492 Deferred tax asset 3,374,841 3,374,841 Deferred contract cost 1,403,299 1,403,899 Goodwill 278,466 278,466 Operating lease right of use assets 4,930,014 4,354,294 Other assets including long-term portion of receivables-net 339,817 367,645 Total assets $ 18,479,825 $ 16,848,072 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 1,284,210 $ 458,811 Current portion of operating lease liability 799,165 852,428

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations Noble Roman's, Inc., an Indiana corporation incorporated in 1972, sells and services franchises and licenses and operates Company-owned stand-alone restaurants and non-traditional foodservice operations 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." References in this report to the "Company" are to Noble Roman's, Inc. and its wholly-owned subsidiaries, unless the context requires otherwise. The Company's only operating subsidiary is RH Roanoke, Inc., which operates a Company-owned non

View Full Filing

View this 10-Q filing on SEC EDGAR