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New words:
affirmative, agreed, Amanda, asserting, assumption, attached, bore, circumstance, Columbia, competing, consummated, consummation, Cottle, defense, diverting, exploration, exploring, Florida, FLSA, hire, indefinitely, indemnification, lack, maintain, mandate, manner, merger, merit, MTY, occurrence, offer, overtime, par, Parent, pendency, postponed, proper, proposed, retain, satisfied, shown, slight, speculation, stockholder, surviving, tender, uncertainty, unpaid, USA, vigorously, waived
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accelerate, accelerating, accounted, accrual, adjustment, advance, aggregate, announced, appeal, approach, approval, area, authority, borrowing, build, calculating, campaign, capitalized, carried, center, classified, collected, Colorado, combining, commencement, comparative, component, comprised, concurrent, conducting, consent, contingent, continuing, conversion, criteria, deemed, delivered, delivery, Denver, determining, direct, discontinued, discrete, disposal, distinct, distribution, documented, economic, elimination, email, enable, entering, estate, exclude, exercise, exercised, exist, experienced, extend, extra, FCC, fixed, focused, franchisee, fully, functionality, granting, grow, highly, impaired, implemented, implicit, incremental, incur, Initial, initiative, insurance, integrated, intellectual, international, interrelated, intersegment, license, March, marketplace, mature, maturity, Memorandum, messaging, mobile, modified, national, offsetting, online, operation, opposed, ordering, overhead, payment, performed, POS, positive, practical, preliminary, producing, product, promise, promised, promoting, proportionate, purpose, pursued, ratably, real, recent, Recently, recognizing, record, recording, reducing, refranchise, refunded, release, remain, remitted, renewal, rent, respond, response, restated, retrospective, retrospectively, return, ROU, separately, separating, shift, shipment, shipped, situated, state, stay, strategically, successive, supply, switchover, target, taxing, terminate, Topic, turnover, typically, unchanged, underperforming, updated, volume, waiver, week, working, written
Financial report summary
?Risks
- The limited service restaurant pizza category and restaurant sector overall are highly competitive and such competition could adversely affect our business, financial condition and results of operations.
- The food service market is affected by consumer preferences and perceptions. Changes in these preferences and perceptions may lessen the demand for our products, which would reduce sales and harm our business.
- Our business and results of operations depend significantly upon the success of our and our franchise owners’ existing and new stores.
- Our strategic initiatives may not be successful, which may have an adverse effect on our business and results of operations.
- We are exploring strategic alternatives, but we do not give any assurance that our exploration of strategic alternatives will result in any transaction being completed, and speculation and uncertainty regarding the outcome of our exploration of strategic alternatives may adversely affect our business.
- The planned refranchising of a portion of our Company-owned stores could adversely affect our results of operations.
- If we fail to identify, recruit, and contract with a sufficient number of qualified franchise owners, our ability to refranchise Company-owned stores and open new franchise stores could be materially and adversely affected.
- We may be unable to refinance or generate sufficient cash flow to satisfy our outstanding debt, which would adversely affect our financial condition and results of operations.
- Our indebtedness may limit our ability to invest in the ongoing needs of our business and if we are unable to comply with our financial covenants, our liquidity and results of operations could be adversely affected.
- The success of our business continues to depend, to a significant degree, upon the continued contributions of our senior officers and key employees, both individually and as a group, and the hiring of qualified executives to join our management team.
- New information or attitudes regarding diet and health could result in changes in regulations and consumer consumption habits that could adversely affect our results of operations.
- Our results of operations and strategy depend in significant part on the success of our franchise owners, and we are subject to a variety of additional risks associated with our franchise owners, including litigation that has been brought against us by certain franchise owners.
- Termination of area development agreements (“ADAs") or master franchise agreements with certain franchise owners could adversely affect our revenues.
- We are subject to all of the risks associated with leasing space subject to long-term non-cancelable leases.
- The effect of negative economic factors, including the availability of credit, on our franchise owners’ and our landlords could negatively affect our results of operations.
- Damage to our reputation and the Papa Murphy’s brand and negative publicity relating to our stores, including our franchise stores, could reduce sales at some or all of our other stores and could negatively affect our business, financial condition, and results of operations.
- Food safety and foodborne illness concerns could have an adverse effect on our business.
- Our success depends in part upon effective advertising and marketing campaigns, which may not be successful, and franchise owner support of such advertising and marketing campaigns, as well as compliance with the restrictions and obligations imposed by laws regulating certain marketing practices.
- We experience the effects of seasonality.
- Changes in economic conditions, including effects from recession, adverse weather, and other unforeseen conditions, could materially and adversely affect our business, financial condition, and results of operations.
- Changes in food availability and costs could adversely affect our results of operations.
- Our dependence on a sole supplier or a limited number of suppliers for some ingredients could result in disruptions to our business.
- Changes in laws related to, or the administration of, electronic benefit transfer (“EBT”) systems could adversely affect our results of operations.
- Changes in employment laws may adversely affect our business.
- If our franchise owners or we face labor shortages, labor disputes, or increased labor costs, our growth and operating results could be adversely affected.
- The effect of changes to healthcare laws in the United States may increase the number of employees who choose to participate in our healthcare plans, which may significantly increase our healthcare costs and negatively affect our results of operations and our franchise owners.
- Restaurant companies have been the target of class actions and other litigation alleging, among other things, violations of federal and state law. We could be party to litigation that could adversely affect us by distracting management, increasing our expenses, or subjecting us to material money damages and other remedies.
- Opening new stores in existing markets may negatively affect sales at existing stores.
- Our operations in international markets exposes us to a number of risks that may differ in each country where we have franchise stores.
- Any acquisitions, partnerships, or joint ventures that we make could disrupt our business and harm our financial condition.
- Cybersecurity breaches, intrusions, data loss, or other data security incidents could disrupt our operations and adversely affect our business.
- Information technology system failures or breaches of our network security could interrupt our operations and adversely affect our business.
- We may not be able to adequately protect our intellectual property, which could harm the value of our brand and adversely affect our business.
- We are subject to extensive government regulation and requirements issued by other groups and our failure to comply with existing or increased regulations could adversely affect our business and operating results.
- Our current insurance coverage may not be adequate, insurance premiums for such coverage may increase and we may not be able to obtain insurance at acceptable rates, or at all.
- Changes to accounting rules or regulations may adversely affect our results of operations.
- The requirements of being a public company may strain our resources and divert resources and management’s attention and this burden may increase once we are no longer an “emerging growth company.”
- Our largest stockholders have the power to significantly influence our decisions and their interests may conflict with our or yours in the future.
- Anti-takeover provisions in our organizational documents could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management, and adversely affect the market price of our common stock.