RAVE Restaurant (RAVE) 10-Q/A 30 Jul 14 2014 Q3 Quarterly report (amended) Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Mar. 30, 2014	13-May-14
Document and Entity Information:	'	'
Entity Registrant Name	'PIZZA INN HOLDINGS, INC /MO/	'
Document Type	'10-Q	'
Document Period End Date	30-Mar-14	'
Amendment Flag	'true	'
Amendment Description	'Updates to the XBRL Calculation	'
Entity Central Index Key	'0000718332	'
Current Fiscal Year End Date	'--06-29	'
Entity Common Stock, Shares Outstanding	'	8,767,944
Entity Filer Category	'Smaller Reporting Company	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Well-known Seasoned Issuer	'No	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share amounts) (Unaudited) (USD $)	Mar. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS	'	'
Cash and cash equivalents	$365	$919
Accounts receivable, less allowance for bad debts of $417 and $228, respectively	3,679	3,139
Notes receivable	123	292
Inventories	1,601	1,615
Income tax receivable	343	343
Deferred income tax assets	943	882
Prepaid expenses and other	336	307
Total current assets	7,390	7,497
LONG-TERM ASSETS	'	'
Property, plant and equipment, net	5,652	4,711
Long-term notes receivable	14	40
Long-term deferred tax asset	657	168
Deposits and other	430	119
Total assets	14,143	12,535
CURRENT LIABILITIES	'	'
Accounts payable - trade	2,178	1,572
Accrued expenses	1,611	1,749
Deferred revenues	154	169
Bank debt	375	669
Total current liabilities	4,318	4,159
LONG-TERM LIABILITIES	'	'
Bank debt, net of current portion	750	1,856
Deferred revenues, net of current portion	680	370
Deferred gain on sale of property	40	59
Other long-term liabilities	70	22
Total liabilities	5,858	6,466
COMMITMENTS AND CONTINGENCIES (See Note 3)	'	'
SHAREHOLDERS' EQUITY	'	'
Common stock, $.01 par value; authorized 26,000,000 shares; issued 15,849,615 and 15,312,680 shares, respectively; outstanding 8,730,215 and 8,193,280 shares, respectively	158	153
Additional paid-in capital	13,584	10,174
Retained earnings	19,179	20,378
Treasury stock at cost Shares in treasury: 7,119,400	-24,636	-24,636
Total shareholders' equity	8,285	6,069
Total Liabilities and Stockholders equity	$14,143	$12,535

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICALS (USD $)	Mar. 30, 2014	Jun. 30, 2013
In Thousands, except Per Share data, unless otherwise specified
Parentheticals	'	'
Accounts receivable, less allowance for bad debts	$417	$228
Common Stock, Par Value	$0.01	$0.01
Common Stock, shares authorized	26,000,000	26,000,000
Common Stock, shares issued	15,849,615	15,312,680
Common Stock, shares Outstanding	8,730,215	8,193,280
Treasury stock, Shares	7,119,400	7,119,400

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 30, 2014	Mar. 24, 2013	Mar. 30, 2014	Mar. 24, 2013
Revenues:	'	'	'	'
REVENUES:	$10,912	$9,781	$31,281	$30,767
COSTS AND EXPENSES:	'	'	'	'
Cost of sales	9,570	8,460	27,028	26,127
General and administrative expenses	1,130	840	3,314	2,995
Franchise expenses	677	608	2,150	1,675
Pre-opening expenses	4	82	160	249
Bad debt	93	45	203	135
Interest expense	34	58	113	197
Total Expenses	11,508	10,093	32,968	31,378
LOSS FROM CONTINUING OPERATIONS BEFORE TAXES	-596	-312	-1,687	-611
Income tax benefit	-159	-22	-527	-170
LOSS FROM CONTINUING OPERATIONS	-437	-290	-1,160	-441
Loss from discontinued operations, net of taxes	-14	-100	-39	-127
NET LOSS	($451)	($390)	($1,199)	($568)
EARNINGS PER SHARE OF COMMON STOCK - BASIC:	'	'	'	'
Loss from continuing operations	($0.05)	($0.04)	($0.14)	($0.05)
Loss from discontinued operations	$0	($0.01)	$0	($0.02)
Net loss	($0.05)	($0.05)	($0.14)	($0.07)
EARNINGS PER SHARE OF COMMON STOCK - DILUTED:	'	'	'	'
Loss from continuing operations	($0.05)	($0.04)	($0.13)	($0.05)
Loss from discontinued operations	$0	($0.01)	$0	($0.02)
Net loss	($0.05)	($0.05)	($0.13)	($0.07)
Weighted average common shares outstanding - basic	8,771	8,021	8,566	8,021
Weighted average common and potential dilutive common shares outstanding	9,290	8,267	9,109	8,198

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 24, 2013
Cash flows operating activities:	'	'
Net loss	($1,199)	($568)
Adjustments to reconcile net loss to cash (used) provided by operating activities:	'	'
Depreciation and amortization	1,056	958
(Gain) loss on sale of assets	-40	129
Stock compensation expense	45	135
Deferred taxes	-551	-243
Provision for bad debts	203	44
Changes in operating assets and liabilities:	'	'
Notes and accounts receivable	-548	-172
Inventories	14	330
Accounts payable - trade	606	-21
Accrued expenses	-90	129
Deferred revenue	276	61
Prepaid expenses and other	-367	-102
Cash (used) provided by operating activities	-595	680
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Proceeds from sale of assets	58	184
Capital expenditures	-1,987	-1,547
Cash used for investing activities	-1,929	-1,363
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from sale of stock	3,288	0
Proceeds from stock options	82	0
Borrowings of bank debt	0	3,160
Repayments of bank debt	-1,400	-2,252
Cash provided by financing activities	1,970	908
Net increase (decrease) in cash and cash equivalents	-554	225
Cash and cash equivalents, beginning of period	919	590
Cash and cash equivalents, end of period	365	815
CASH PAYMENTS FOR:	'	'
Interest	113	248
Income taxes - net	$1	($84)

Summary_of_Significant_Account

Summary of Significant Accounting Policies	9 Months Ended
	Mar. 30, 2014
Summary of Significant Accounting Policies	'
Summary of Significant Accounting Policies	'
	-1	Summary of Significant Accounting Policies
		Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned.  All appropriate intercompany balances and transactions have been eliminated.
		Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
	Fiscal Quarters
	The three month periods ended March 30, 2014 and March 24, 2013, each contained 13 weeks.  The nine month periods ended March 30, 2014 and March 24, 2013, each contained 39 weeks.
	Revenue Recognition
	The Company recognizes revenue when products are delivered and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sales price is fixed or determinable.  The Company's Norco division sells food and supplies to franchisees on trade accounts under terms common in the industry.  Food and supply sales revenues, including shipping and handling costs, are recognized upon delivery of the product. Revenue from restaurant sales is recognized when food and beverage products are sold. The Company reports revenue net of sales taxes collected from customers and remitted to governmental taxing authorities.
	Franchise revenue consists of income from license fees, royalties, and area development and foreign master license fees. License fees are recognized as income when there has been substantial performance under the agreement by the Company.  Domestic license fees are generally recognized at the time the restaurant is opened.  Foreign master license fees are generally recognized upon execution of the agreement as all material services relating to the sale have been substantially performed by the Company and the fee has been collected.  Royalties are recognized as income when earned.
	Stock-Based Compensation
	The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on share-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future.  The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow.
	Use of Management Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities.  The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances.  Estimates and assumptions are reviewed periodically and actual results could differ materially from estimates.
	Reclassification
	Certain items have been reclassified in the prior year financial statements to conform to current year presentation.

Long_Term_Debt

Long Term Debt	9 Months Ended
	Mar. 30, 2014
Long-Term Debt	'
Long-term Debt	'
	-2	Long-Term Debt
	On August 28, 2012, the Company entered into a Loan and Security Agreement (the “F&M Loan Agreement”) with The F&M Bank & Trust Company (“F&M”) providing for a $2.0 million revolving credit facility (with a $500 thousand letter of credit subfacility), a $2.0 million fully funded term loan facility and a $6.0 million advancing term loan facility.  An origination fee of 0.5% of the total credit facilities was paid at closing.  At closing, F&M funded a $2.0 million term loan payable in 48 equal monthly installments of principal plus accrued interest at a fixed rate of 4.574% per annum.  Amounts repaid under this fully funded term loan may not be reborrowed.  Initial proceeds from the F&M Loan Agreement were used to repay amounts borrowed under a previous credit facility that subsequently was canceled.
	On June 13, 2013 the Company entered into a First Amendment to the F&M Loan Agreement that revised certain financial covenants to address proceeds from the Company’s at-the-market offering of common stock.  On September 10, 2013 the Company entered into a Second Amendment to the F&M Loan Agreement that specified the application of prepayments to the loan amortization schedule and revised certain definitions.
	The Company may borrow, repay and reborrow under the revolving credit facility through August 28, 2014, at which time all amounts outstanding under the revolving credit facility mature. The Company has not drawn borrowings on the revolving credit facility during fiscal year 2014.  Availability under the revolving credit facility is limited by advance rates on eligible inventory and accounts receivable.  Per annum interest on indebtedness from time to time outstanding under the revolving credit facility is computed at the Wall Street Journal prime rate plus 1.00% and is payable monthly.  An unused commitment fee of 0.50% per annum is payable quarterly on the average unused portion of the revolving credit facility.
	Through August 28, 2014, F&M has agreed to make up to $6.0 million in additional term loans to the Company.  After such date any outstanding term loans continue to amortize according to each loan’s specified payment schedule.  Advances for such additional term loans are limited by a percentage of the costs of equipment, leasehold improvements and other opening costs for new Company-owned Pie Five Units and may not be reborrowed after repayment.  Interest only is payable monthly on all additional term loan advances during an annual borrowing period.  At the end of each annual borrowing period, all additional term loan advances during such borrowing period become payable in 48 equal monthly installments of principal plus accrued interest. Interest on each term loan accrues at the Wall Street Journal prime rate plus 1.00% or, at the Company’s option, a fixed rate equal to the Bloomberg 4-year LIBOR swap rate plus 3.90%.
	As security for the credit facilities, the Company has pledged substantially all of its assets including, but not limited to, accounts receivable, inventory and equipment.  The F&M Loan Agreement contains various affirmative covenants which, among other things, require the Company to provide F&M with certain financial statements, compliance statements, reports and other information. The F&M Loan Agreement also contains various negative covenants which, among other things, require the Company to maintain certain financial ratios and restrict the ability of the Company to engage in certain activities.  If an event of default occurs under the F&M Loan Agreement and any cure periods have expired, F&M may terminate all commitments under the credit facilities and declare all unpaid principal, interest and other amounts owing under the credit facilities to be immediately due and payable.
	The Company was in compliance with all covenants under the F&M Loan Agreement as of March 30, 2014. As of March 30, 2014, the balance on the initial term loan facility was $1.1 million with an interest rate of 4.574% and scheduled monthly principle payments through September 1 2016.  The balance on the advancing term loan facility was zero with an interest rate of 4.25%, the balance on the revolving credit facility was zero with an interest rate of 4.25% and the Company had an outstanding letter of credit of $0.2 million.

Commitment_and_Contingencies

Commitment and Contingencies	9 Months Ended
	Mar. 30, 2014
Commitment and Contingencies:	'
Commitments and Contingencies Disclosure	'
	-3	Commitments and Contingencies
	On April 22, 2009, the Company’s board of directors amended the stock purchase plan first adopted on May 23, 2007, and previously amended on June 2, 2008, to increase the number of shares of common stock the Company may repurchase to a total of 3,016,000 shares.  As of March 30, 2014, up to an additional 848,425 shares could be purchased under the plan.
	The Company is subject to various claims and legal actions in the ordinary course of its business.  The Company believes that all such claims and actions currently pending against it are either adequately covered by insurance or would not have a material adverse effect on the Company’s annual results of operations, cash flows or financial condition if decided in a manner that is unfavorable to the Company.

Stock_Based_Compensation

Stock Based Compensation	9 Months Ended
	Mar. 30, 2014
Stock-Based Compensation	'
Stock-Based Compensation	'
	Stock-Based Compensation
	For the three months and nine months ended March 30, 2014, the Company recognized stock-based compensation expense of $15,000 and $45,000, respectively.  As of March 30, 2014, unamortized stock-based compensation expense was $0.2 million.
	The following table summarizes the number of shares of the Company’s common stock subject to outstanding stock options:
			Nine Months Ended
			30-Mar-14			24-Mar-13
		Outstanding at beginning of year		851,306			486,506
		Granted		85,392			464,800
		Exercised		(39,144	)		-
		Forfeited/Canceled/Expired		(38,856	)		-
		Outstanding at end of period		858,698			951,306
		Exercisable at end of period		473,659			391,939

Earnings_Per_Share_EPS

Earnings Per Share (EPS)	9 Months Ended
	Mar. 30, 2014
Earnings Per Share:	'
Earnings Per Share	'
	-5	Earnings per Share (EPS)
		The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts).
			Three Months Ended						Nine Months Ended
			March 30,			March 24,			March 30,			March 24,
			2014			2013			2014			2013
		Loss from continuing operations	$	(437	)	$	(290	)	$	(1,160	)	$	(441	)
		Discontinued operations		(14	)		(100	)		(39	)		(127	)
		Net loss available to common stockholders	$	(451	)	$	(390	)	$	(1,199	)	$	(568	)
		BASIC:
		Weighted average common shares		8,771			8,021			8,566			8,021
		Loss from continuing operations per share	$	(0.05	)	$	(0.04	)	$	(0.14	)	$	(0.05	)
		Discontinued operations per common share		-			(0.01	)		-			(0.02	)
		Net loss per common share	$	(0.05	)	$	(0.05	)	$	(0.14	)	$	(0.07	)
		DILUTED:
		Weighted average common shares		8,771			8,021			8,566			8,021
		Dilutive stock options		519			246			543			177
		Weighted average common shares outstanding		9,290			8,267			9,109			8,198
		Loss from continuing operations per share	$	(0.05	)	$	(0.04	)	$	(0.13	)	$	(0.05	)
		Discontinued operations per common share		-			(0.01	)		-			(0.02	)
		Loss per common share	$	(0.05	)	$	(0.05	)	$	(0.13	)	$	(0.07	)
		For the three months and nine months ended March 30, 2014, options to purchase 15,000 shares of common stock were excluded from the computation of diluted EPS because the options’ exercise prices exceeded the average market price of the common shares for the period.

Closed_Restaurants_and_Discont

Closed Restaurants and Discontinued Operations	9 Months Ended
	Mar. 30, 2014
Closed restaurants and discontinued operations	'
Closed restaurants and discontinued operations	'
	Closed restaurants and discontinued operations
	The authoritative guidance on “Accounting for the Impairment or Disposal of Long-Lived Assets,” requires that discontinued operations that meet certain criteria be reflected in the statement of operations after results of continuing operations as a net amount.  This guidance also requires that the operations of the closed restaurants, including any impairment charges, be reclassified to discontinued operations for all periods presented.
	The authoritative guidance on “Accounting for Costs Associated with Exit or Disposal Activities,” requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred.  This authoritative guidance also establishes that fair value is the objective for initial measurement of the liability.
	Loss from discontinued operations reflects costs associated with a former Company-owned restaurant in Texas that was closed during the quarter ended September 23, 2007. This property is on the market for sub-lease. Because we believe that the property will sub-lease at or above the contracted lease rates, we have not reserved any additional costs related to our obligations under this non-cancelable lease.

Income_Taxes

Income Taxes	9 Months Ended
	Mar. 30, 2014
Income Taxes:	'
Income Taxes	'
	Income Taxes
	For the three and nine month period ended March 30, 2014, income tax benefit of  $0.2 million and $0.5 million, respectively, was calculated on an effective income tax rate that is consistent with the statutory U.S. federal income tax rate of 34% adjusted for state income tax effects and permanent difference items. Management believes that future operations will generate sufficient taxable income, along with the reversal of temporary differences, to fully realize the net deferred tax asset of $1.6 million.

Segment_Reporting

Segment Reporting	9 Months Ended
	Mar. 30, 2014
Segment Reporting:	'
Segment Reporting Disclosure	'
	-8	Segment Reporting
		Summarized in the following tables are net sales and operating revenues, operating income and geographic information (revenues) for the Company’s reportable segments for the three month and nine month periods ended March 30, 2014 and March 24, 2013 (in thousands).  Operating income reported below excludes income tax provision and discontinued operations.
				Three Months Ended						Nine Months Ended
				March 30,			March 24,			March 30,			March 24,
				2014			2013			2014			2013
		Net sales and operating revenues:
		Franchising and food and supply distribution		$	8,104		$	7,719		$	23,667		$	24,922
		Company-owned restaurants (1)			2,808			2,062			7,614			5,845
			Consolidated revenues	$	10,912		$	9,781		$	31,281		$	30,767
		Depreciation and amortization:
		Franchising and food and supply distribution		$	-		$	-		$	7		$	-
		Company-owned restaurants (1)			329			279			921			762
			Combined		329			279			928			762
		Corporate administration and other			41			61			128			205
			Depreciation and amortization	$	370		$	340		$	1,056		$	967
		Income (loss) from continuing operations before taxes:
		Franchising and food and supply distribution (2)		$	(74	)	$	245		$	546		$	1,526
		Company-owned restaurants (1) (2)			(259	)		(357	)		(1,062	)		(956	)
			Combined		(333	)		(112	)		(516	)		570
		Corporate administration and other (2)			(263	)		(200	)		(1,171	)		(1,181	)
			Operating loss	$	(596	)	$	(312	)	$	(1,687	)	$	(611	)
		Geographic information (revenues):
		United States		$	10,666		$	9,509		$	30,561		$	29,939
		Foreign countries			246			272			720			828
			Consolidated total	$	10,912		$	9,781		$	31,281		$	30,767
		(1)	Company stores that were closed are included in discontinued
			operations in the accompanying Condensed Consolidated Statement
			of Operations.
		(2)	Portions of corporate administration and other have been allocated to segments.

Accounting_Policies

Accounting Policies	9 Months Ended
	Mar. 30, 2014
Accounting Policies:	'
Principles of Consolidation	'
		Principles of Consolidation
	The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned.  All appropriate intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents	'
		Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Fiscal Quarters	'
	Fiscal Quarters
	The three month periods ended March 30, 2014 and March 24, 2013, each contained 13 weeks.  The nine month periods ended March 30, 2014 and March 24, 2013, each contained 39 weeks.
Revenue Recognition,	'
	Revenue Recognition
	The Company recognizes revenue when products are delivered and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sales price is fixed or determinable.  The Company's Norco division sells food and supplies to franchisees on trade accounts under terms common in the industry.  Food and supply sales revenues, including shipping and handling costs, are recognized upon delivery of the product. Revenue from restaurant sales is recognized when food and beverage products are sold. The Company reports revenue net of sales taxes collected from customers and remitted to governmental taxing authorities.
	Franchise revenue consists of income from license fees, royalties, and area development and foreign master license fees. License fees are recognized as income when there has been substantial performance under the agreement by the Company.  Domestic license fees are generally recognized at the time the restaurant is opened.  Foreign master license fees are generally recognized upon execution of the agreement as all material services relating to the sale have been substantially performed by the Company and the fee has been collected.  Royalties are recognized as income when earned.
Stock Based Compensation	'
	Stock-Based Compensation
	The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on share-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future.  The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow.
Use of Management Estimates	'
	Use of Management Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities.  The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances.  Estimates and assumptions are reviewed periodically and actual results could differ materially from estimates.
Reclassification,	'
	Reclassification
	Certain items have been reclassified in the prior year financial statements to conform to current year presentation.

Schedule_of_Stock_Based_Compen

Schedule of Stock Based Compensation (Tables)	9 Months Ended
	Mar. 30, 2014
Schedule of Stock Based Compensation (Tables):	'
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	'
			Nine Months Ended
			30-Mar-14			24-Mar-13
		Outstanding at beginning of year		851,306			486,506
		Granted		85,392			464,800
		Exercised		(39,144	)		-
		Forfeited/Canceled/Expired		(38,856	)		-
		Outstanding at end of period		858,698			951,306
		Exercisable at end of period		473,659			391,939

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Mar. 30, 2014
Earnings Per Share As Follows	'
Schedule of Earnings Per Share, Basic and Diluted	'
			Three Months Ended						Nine Months Ended
			March 30,			March 24,			March 30,			March 24,
			2014			2013			2014			2013
		Loss from continuing operations	$	(437	)	$	(290	)	$	(1,160	)	$	(441	)
		Discontinued operations		(14	)		(100	)		(39	)		(127	)
		Net loss available to common stockholders	$	(451	)	$	(390	)	$	(1,199	)	$	(568	)
		BASIC:
		Weighted average common shares		8,771			8,021			8,566			8,021
		Loss from continuing operations per share	$	(0.05	)	$	(0.04	)	$	(0.14	)	$	(0.05	)
		Discontinued operations per common share		-			(0.01	)		-			(0.02	)
		Net loss per common share	$	(0.05	)	$	(0.05	)	$	(0.14	)	$	(0.07	)
		DILUTED:
		Weighted average common shares		8,771			8,021			8,566			8,021
		Dilutive stock options		519			246			543			177
		Weighted average common shares outstanding		9,290			8,267			9,109			8,198
		Loss from continuing operations per share	$	(0.05	)	$	(0.04	)	$	(0.13	)	$	(0.05	)
		Discontinued operations per common share		-			(0.01	)		-			(0.02	)
		Loss per common share	$	(0.05	)	$	(0.05	)	$	(0.13	)	$	(0.07	)

Schedule_of_Segment_Reporting_

Schedule of Segment Reporting (Tables)	9 Months Ended
	Mar. 30, 2014
Schedule of Segment Reporting (Tables):	'
Schedule of Segment Reporting Information, by Segment	'
				Three Months Ended						Nine Months Ended
				March 30,			March 24,			March 30,			March 24,
				2014			2013			2014			2013
		Net sales and operating revenues:
		Franchising and food and supply distribution		$	8,104		$	7,719		$	23,667		$	24,922
		Company-owned restaurants (1)			2,808			2,062			7,614			5,845
			Consolidated revenues	$	10,912		$	9,781		$	31,281		$	30,767
		Depreciation and amortization:
		Franchising and food and supply distribution		$	-		$	-		$	7		$	-
		Company-owned restaurants (1)			329			279			921			762
			Combined		329			279			928			762
		Corporate administration and other			41			61			128			205
			Depreciation and amortization	$	370		$	340		$	1,056		$	967
		Income (loss) from continuing operations before taxes:
		Franchising and food and supply distribution (2)		$	(74	)	$	245		$	546		$	1,526
		Company-owned restaurants (1) (2)			(259	)		(357	)		(1,062	)		(956	)
			Combined		(333	)		(112	)		(516	)		570
		Corporate administration and other (2)			(263	)		(200	)		(1,171	)		(1,181	)
			Operating loss	$	(596	)	$	(312	)	$	(1,687	)	$	(611	)
		Geographic information (revenues):
		United States		$	10,666		$	9,509		$	30,561		$	29,939
		Foreign countries			246			272			720			828
			Consolidated total	$	10,912		$	9,781		$	31,281		$	30,767
		(1)	Company stores that were closed are included in discontinued
			operations in the accompanying Condensed Consolidated Statement
			of Operations.
		(2)	Portions of corporate administration and other have been allocated to segments.

Loan_and_Security_Agreement_wi

Loan and Security Agreement with F & M Bank & Trust Company (Details) (USD $)	Mar. 30, 2014	Aug. 28, 2012
Loan and Security Agreement with F & M Bank & Trust Company:	'	'
Revolving credit facility provided	$1.10	$2
Revolving credit facility with letter of credit subfacility	0.2	0.5
Fully Funded Term loan facility	'	2
Advancing term loan facility	0.7	6
Origination fee of the total credit	'	0.50%
Unused commitment fee per annum is payable quarterly	'	0.50%
F & M funded term loan payable	1.1	2
Term loan payable in equal monthly installments	'	48,000
Accrued interest at a fixed rate	4.57%	4.57%
Advancing term loan facility subject to the terms and conditions of the F & M loan agreement	$0	'
Interest on each term Prime plus	4.25%	'
Bloomberg 4-year LIBOR swap rate plus	3.90%	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details)	Mar. 30, 2014	Jun. 02, 2008
In Thousands, unless otherwise specified
Commitments and Contingencies As Of:	'	'
Approved total number of shares that may be repurchased	'	3,016,000
Additional shares that may be purchased under the plan	848,425	'

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended
	Mar. 30, 2014
Stock-Based Compensation During The Period:	'
Recognized stock-based compensation expense	$15,000,000
Unamortized stock-based compensation expense	$0.20

Outstanding_Stock_Options_Deta

Outstanding Stock Options (Details)	9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 24, 2013
Outstanding Stock Options During The Period:	'	'
Outstanding at beginning of year	851,306	486,506
Granted	85,392	464,800
Exercised	-39,144	0
Forfeited/Canceled/Expired	-38,856	0
Outstanding at end of period	858,698	951,306
Exercisable at end of period	473,659	391,939

Earnings_per_Share_EPS_Consist

Earnings per Share (EPS) Consists of the Following (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 30, 2014	Mar. 24, 2013	Mar. 30, 2014	Mar. 24, 2013
Earnings per Share (EPS) Consists of the Following	'	'	'	'
Loss from continuing operations	($437)	($290)	($1,160)	($441)
Discontinued operations	($14)	($100)	($39)	($127)
Net loss available to common stockholders	($451)	($390)	($1,199)	($568)
BASIC:	'	'	'	'
BASIC-Weighted average common shares	8,771	8,021	8,566	8,021
Loss from continuing operations per share	($0.05)	($0.04)	($0.14)	($0.05)
Discontinued operations per common share	$0	($0.01)	$0	($0.02)
Net loss per common share	($0.05)	($0.05)	($0.14)	($0.07)
DILUTED:	'	'	'	'
Weighted average common shares	8,771	8,021	8,566	8,021
Dilutive stock options	519	246	543	177
Weighted average common shares outstanding	9,290	8,267	9,109	8,198
Loss from continuing operations per share	($0.05)	($0.04)	($0.13)	($0.05)
Discontinued operations per common share	$0	($0.01)	$0	($0.02)
Loss per common share	($0.05)	($0.05)	($0.13)	($0.07)

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended	9 Months Ended
	Mar. 30, 2014	Mar. 30, 2014
Income Taxes Consist of the Following:	'	'
Income tax benefit	$0.20	$0.50
Effective income tax rate that is consistent with the statutory U.S. federal income tax rate	34.00%	'
Net deferred tax asset	$1.60	'

Segment_Reporting_Operating_In

Segment Reporting Operating Income and Geographic Information (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Mar. 30, 2014	Mar. 24, 2013	Mar. 30, 2014	Mar. 24, 2013
Net sales and operating revenues:	'	'	'	'
Franchising and food and supply distribution	$8,104	$7,719	$23,667	$24,922
Company-owned restaurants (1)	2,808	2,062	7,614	5,845
Consolidated revenues	10,912	9,781	31,281	30,767
Depreciation and amortization:	'	'	'	'
Franchising and food and supply distribution	0	0	7	0
Company-owned restaurants (1)	329	279	921	762
Combined	329	279	928	762
Corporate administration and other	41	61	128	205
Depreciation and amortization	370	340	1,056	967
Income (loss) from continuing operations before taxes:	'	'	'	'
Franchising and food and supply distribution (2)	-74	245	546	1,526
Company-owned restaurants (1) (2)	-259	-357	-1,062	-956
Combined	-333	-112	-516	570
Corporate administration and other (2)	-263	-200	-1,171	-1,181
Operating loss	-596	-312	-1,687	-611
Geographic information (revenues):	'	'	'	'
United States	10,666	9,509	30,561	29,939
Foreign countries	246	272	720	828
Consolidated total	$10,912	$9,781	$31,281	$30,767