XML 49 R11.htm IDEA: XBRL DOCUMENT

5. Contingent Liabilities for Leased Facilities	12 Months Ended
Dec. 31, 2013
Notes to Financial Statements
Note 5 - Contingent Liabilities for Leased Facilities	The Company leased its former restaurant facilities under non-cancelable lease agreements which generally had initial terms ranging from five to 20 years with extended renewal terms. These leases have been terminated or assigned to franchisees who operate them pursuant to a Noble Roman’s, Inc. Franchise Agreement. The assignment passes all liability for future lease payments to the assignees, however, the Company remains contingently liable on two of the leases to the landlords in the event of default by the assignees. The leases generally required the Company or its assignees to pay all real estate taxes, insurance and maintenance costs. At December 31, 2013, contingent obligations under non-cancelable operating leases for 2014, 2015 and 2016, were approximately $91,563, $71,343 and $24,675, respectively. The Company has future obligations of $381,642 under current operating leases as follows: due in less than one year $238,795 and due in one to three years $142,848.

5. Contingent Liabilities for Leased Facilities

12 Months Ended

Dec. 31, 2013

Note 5 - Contingent Liabilities for Leased Facilities

The Company leased its former restaurant facilities under non-cancelable lease agreements which generally had initial terms ranging from five to 20 years with extended renewal terms. These leases have been terminated or assigned to franchisees who operate them pursuant to a Noble Roman’s, Inc. Franchise Agreement. The assignment passes all liability for future lease payments to the assignees, however, the Company remains contingently liable on two of the leases to the landlords in the event of default by the assignees. The leases generally required the Company or its assignees to pay all real estate taxes, insurance and maintenance costs. At December 31, 2013, contingent obligations under non-cancelable operating leases for 2014, 2015 and 2016, were approximately $91,563, $71,343 and $24,675, respectively.

The Company has future obligations of $381,642 under current operating leases as follows: due in less than one year $238,795 and due in one to three years $142,848.