Note 1 - The accompanying unaudited interim condensed consolidated financial statements included herein, have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. These condensed consolidated statements have been prepared in accordance with the Company’s accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”) and should be read in conjunction with the audited consolidated financial statements and the notes thereto included in that report. Unless the context indicates otherwise, references to the “Company” mean Noble Roman’s, Inc. and its subsidiary.

The Company historically deferred initial franchise fees and recognized the amounts over the terms of the related franchise agreements. Under its reduced-fee non-traditional franchise program, the Company currently recognizes initial franchise fees of $2,750 when received. Management has evaluated the aggregate financial statement effect of this recognition practice and concluded that any difference from recognition over the related franchise agreement terms would not be material.

Recent Accounting Pronouncements

There have been no material changes to the Company's evaluation of recently issued accounting standards from those disclosed in Note 1, "Recently Adopted Accounting Standards" and “Recently Issued Accounting Standards Not Yet Adopted,” included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. Management continues to evaluate the impact of accounting standards that have been issued but are not yet effective and does not currently expect their adoption to have a material effect on the Company's condensed consolidated financial statements, unless otherwise disclosed.

Reclassification

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications primarily relate to the consolidation of certain financial statement line items to improve the presentation of the Company's interim financial statements. The reclassifications had no effect on previously reported total assets, total liabilities, stockholders' equity, net income (loss), or cash flows. The decision was made to vacate the Roanoke Hospital from current operations and reclassed those operations from current operation to discontinued operations.

Significant Accounting Policies

There have been no significant changes in the Company's accounting policies from those disclosed in the 2025 Form 10-K.