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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950134-04-019762.txt : 20041222
<SEC-HEADER>0000950134-04-019762.hdr.sgml : 20041222
<ACCEPTANCE-DATETIME>20041222172921
ACCESSION NUMBER:		0000950134-04-019762
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041216
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Termination of a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20041222
DATE AS OF CHANGE:		20041222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIZZA INN INC /MO/
		CENTRAL INDEX KEY:			0000718332
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & RELATED PRODUCTS [5140]
		IRS NUMBER:				470654575
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			0626

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12919
		FILM NUMBER:		041221759

	BUSINESS ADDRESS:	
		STREET 1:		5050 QUORUM DR STE 500
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		2147019955

	MAIL ADDRESS:	
		STREET 1:		5050 QUORUM DR STE 500
		STREET 2:		5050 QUORUM DR STE 500
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PANTERAS CORP
		DATE OF NAME CHANGE:	19901126

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONCEPT DEVELOPMENT INC
		DATE OF NAME CHANGE:	19870212
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d21155e8vk.htm
<DESCRIPTION>FORM 8-K
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


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<P align="center" style="font-size: 14pt"><B>UNITED STATES</B>

<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section&nbsp;13 OR 15(d) of The Securities Exchange Act of 1934</B>


<P align="left" style="font-size: 10pt">Date of Report (Date of earliest event reported) <B>December&nbsp;16, 2004</B>

<P align="center" style="font-size: 24pt"><B>Pizza Inn, Inc.</B>

<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>

<DIV align="center">
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    <TD width="31%">&nbsp;</TD>
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    <TD align="center" valign="top"><B>Missouri</B><BR>
(State or other jurisdiction of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-12919</B><BR>
(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>47-0654575</B><BR>
(IRS Employer Identification No.)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>3551 Plano Parkway, The Colony, Texas 75056</B><BR>
(Address of principal executive offices) (Zip Code)



<P align="left" style="font-size: 10pt">Registrant&#146;s telephone number, including area code <B>(469)&nbsp;384-5000</B>



<P align="center" style="font-size: 10pt"><B>Not Applicable</B><BR>
(Former name or former address, if changed since last report)


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):


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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
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</TABLE>


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    <TD nowrap><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>
</TABLE>


<P>
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    <TD width="99%"></TD>
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    <TD nowrap><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>
</TABLE>


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    <TD width="99%"></TD>
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<TR valign="top">
    <TD nowrap><FONT style="font-family: Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>
</TABLE>


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<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
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	<TD width="76%"></TD>
</TR>
<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01 Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;1.02 Termination of a Material Definitive Agreement.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">Item&nbsp;9.01 Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">SIGNATURES</A></TD></TR>
</TABLE>
</CENTER>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>




<!-- link2 "Item&nbsp;1.01 Entry into a Material Definitive Agreement." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01 Entry into a Material Definitive Agreement.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;21, 2004, Wells Fargo Bank agreed, pursuant to that certain letter dated December
21, 2004 from Wells Fargo Bank to Pizza Inn, Inc. (the &#147;<B>December&nbsp;21, 2004 Letter</B>&#148;), which is filed
as Exhibit&nbsp;99.3 to this report and incorporated herein by reference, to amend that certain Third
Amended and Restated Loan Agreement between Pizza Inn, Inc. and Wells Fargo Bank (Texas), National
Association dated January&nbsp;22, 2003 but effective December&nbsp;29, 2002 (the &#147;<B>Loan Agreement</B>&#148;) to
continue to extend Revolving Credit Advances (as defined in the Loan Agreement) under the Loan
Agreement subject to certain conditions described in the letter, including, without limitation,
limiting the aggregate amount of all Revolving Credit Advances and Letter of Credit Liabilities at
any time outstanding to not exceed $1,200,000. Wells Fargo Bank also represented to Pizza Inn,
Inc. in the December&nbsp;21, 2004 Letter that $615,071.18 is currently outstanding and that Wells Fargo
Bank would have the right to terminate the agreement to continue to extend Revolving Credit
Advances at any time upon prior written notice to Pizza Inn, Inc.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The terms and conditions of the Loan Agreement are described in the Loan Agreement which is
filed as Exhibit&nbsp;10.1 to that certain Quarterly Report on Form 10-Q for the quarterly period ended
December&nbsp;29, 2002 filed February&nbsp;11, 2003 by Pizza Inn, Inc. with the Commission and incorporated
herein by reference. The terms and conditions of the amendment(s) to the Loan Agreement are
described in the December&nbsp;21, 2004 Letter. See also the disclosure(s) under Item&nbsp;1.02 of this
report.

<!-- link2 "Item&nbsp;1.02 Termination of a Material Definitive Agreement." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.02 Termination of a Material Definitive Agreement.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December&nbsp;16, 2004, Wells Fargo Bank, National Association, notified Pizza Inn, Inc. that,
pursuant to Section&nbsp;10.12 of the Loan Agreement, the Revolving Credit Commitment (as defined in the
Loan Agreement) and all other lending obligations of Wells Fargo Bank, as the lender, under the
Loan Agreement or any of the other Loan Documents (as defined in the Loan Agreement) were
automatically terminated as a result of a Change of Control (as defined in the Loan Agreement)
resulting from Ronald W. Parker ceasing to be the Chief Executive Officer of Pizza Inn, Inc.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Revolving Credit Commitment, other lending obligations, Change of Control, and other terms
and conditions of the Loan Agreement are described in the Loan Agreement. See also the
disclosure(s) under Item&nbsp;1.01 of this report.

<!-- link2 "Item&nbsp;7.01 Regulation&nbsp;FD Disclosure." -->
<DIV align="left"><A NAME="002"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pizza Inn, Inc. elects to disclose the information in the letters furnished as Exhibits 99.1,
99.2, and 99.3 to this report and incorporated herein by reference through Form 8-K pursuant to
Regulation&nbsp;FD.

<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="2%" nowrap align="left"><B>(c)</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Exhibits.</B></TD>
</TR>

</TABLE>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description of Exhibit</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Second Amended and Restated Loan Agreement dated March
31, 2000 between Pizza Inn, Inc. and Wells Fargo Bank
(Texas), National Association (incorporated herein by
reference to Exhibit&nbsp;10.1 to the Quarterly Report on Form
10-Q for the quarterly period ended March&nbsp;26, 2000 filed
May&nbsp;9, 2000 by Pizza Inn, Inc. with the Commission)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="94%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit No.</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Description of Exhibit</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">First Amendment to the Second Amended and Restated Loan
Agreement dated December&nbsp;28, 2000 between Pizza Inn, Inc.
and Wells Fargo Bank Texas, National Association
(incorporated herein by reference to Exhibit&nbsp;10.1 to the
Quarterly Report on Form&nbsp;10-Q for the quarterly period
ended December&nbsp;24, 2000 filed February&nbsp;6, 2001 by Pizza
Inn, Inc. with the Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Second Amendment to the Second Amended and Restated Loan
Agreement and Related Loan Documents dated January&nbsp;31,
2002 but effective December 23, 2001 between Pizza Inn,
Inc. and Wells Fargo Bank Texas, National Association
(incorporated herein by reference to Exhibit&nbsp;10.1 to the
Quarterly Report on Form&nbsp;10-Q for the quarterly period
ended December&nbsp;23, 2001 filed February&nbsp;5, 2002 by Pizza
Inn, Inc. with the Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Third Amendment to the Second Amended and Restated Loan
Agreement dated September&nbsp;26, 2002 but effective June&nbsp;25,
2002 between Pizza Inn, Inc. and Wells Fargo Bank Texas,
National Association (incorporated herein by reference to
Exhibit&nbsp;10.4 to the Annual Report on Form&nbsp;10-K for the
fiscal year ended June&nbsp;30, 2002 filed September&nbsp;27, 2002
by Pizza Inn, Inc. with the Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Third Amended and Restated Loan Agreement dated January
22, 2003 but effective December&nbsp;29, 2002 between Wells
Fargo Bank (Texas), National Association and Pizza Inn,
Inc. (incorporated herein by reference to Exhibit&nbsp;10.1 to
the Quarterly Report on Form&nbsp;10-Q for the quarterly
period ended December&nbsp;29, 2002 filed February&nbsp;11, 2003 by
Pizza Inn, Inc. with the Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.6
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Construction Loan Agreement dated December&nbsp;28, 2000
between Pizza Inn, Inc. and Wells Fargo Bank Texas,
National Association (filed as Exhibit&nbsp;10.2 to the
Quarterly Report on Form&nbsp;10-Q for the quarterly period
ended December&nbsp;24, 2000 filed February&nbsp;6, 2001 by Pizza
Inn, Inc. with the Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.7
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Promissory Note dated December&nbsp;28, 2000 between Pizza
Inn, Inc. and Wells Fargo Bank Texas, National
Association (incorporated herein by reference to Exhibit
10.3 to the Quarterly Report on Form&nbsp;10-Q for the
quarterly period ended December&nbsp;24, 2000 filed February
6, 2001 by Pizza Inn, Inc. with the Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.8
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Fifth Amended and Restated Revolving Credit Note dated
January&nbsp;31, 2002 between Pizza Inn, Inc. and Wells Fargo
Bank (Texas), National Association (incorporated herein
by reference to Exhibit&nbsp;10.2 to the Quarterly Report on
Form&nbsp;10-Q for the quarterly period ended December&nbsp;23,
2001 filed February&nbsp;5, 2002 by Pizza Inn, Inc. with the
Commission)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Letter dated December&nbsp;16, 2004 from Wells Fargo Bank,
National Association to Pizza Inn, Inc. (furnished
herewith and incorporated herein by reference)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Letter dated December&nbsp;20, 2004 from Wells Fargo Bank,
National Association to Pizza Inn, Inc. (furnished
herewith and incorporated herein by reference)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Letter dated December&nbsp;21, 2004 from Wells Fargo Bank,
National Association to Pizza Inn, Inc. (filed herewith
and incorporated herein by reference)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
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<DIV align="left"><A NAME="004"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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<TR>
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    <TD width="1%">&nbsp;</TD>
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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Pizza Inn, Inc.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: December 22, 2004&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Rod McDonald
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Rod McDonald&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Acting Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;
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