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<SEC-DOCUMENT>0000718332-06-000021.txt : 20060629
<SEC-HEADER>0000718332-06-000021.hdr.sgml : 20060629
<ACCEPTANCE-DATETIME>20060629152901
ACCESSION NUMBER:		0000718332-06-000021
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20051231
FILED AS OF DATE:		20060629
DATE AS OF CHANGE:		20060629

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:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12919
		FILM NUMBER:		06933554

	BUSINESS ADDRESS:	
		STREET 1:		3551 PLANO PARKWAY
		CITY:			THE COLONY
		STATE:			TX
		ZIP:			75056
		BUSINESS PHONE:		469-384-5000

	MAIL ADDRESS:	
		STREET 1:		3551 PLANO PARKWAY
		CITY:			THE COLONY
		STATE:			TX
		ZIP:			75056

	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>11-K
<SEQUENCE>1
<FILENAME>form11k123105.txt
<DESCRIPTION>PIZZA INN, INC. FORM 11K FOR THE YEAR ENDING DECEMBER 31, 2005
<TEXT>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 11-K

(Mark  One)
  [X]     ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT
                                     OF 1934

For  the  fiscal  year  ended  December  31,  2005

                                       OR

  [_]     TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

  For the transition period from _________________ to ________________________

                         Commission file number 0-12919

                                 PIZZA INN, INC.
                               401(K) SAVINGS PLAN
                              (Full title of plan)

                                 PIZZA INN, INC.
                               3551 PLANO PARKWAY
                             THE COLONY, TEXAS 75056
(name of the issuer of the securities held pursuant to the plan and the address
                       of its principal executive office)









                                                                 PIZZA INN, INC.
                                                             401(K) SAVINGS PLAN




                                                        FINANCIAL STATEMENTS AND
                                                           SUPPLEMENTAL SCHEDULE
                                          YEARS ENDED DECEMBER 31, 2005 AND 2004







<PAGE>








                                                                 PIZZA INN, INC.
                                                             401(K) SAVINGS PLAN






                                                        FINANCIAL STATEMENTS AND
                                                           SUPPLEMENTAL SCHEDULE
                                          YEARS ENDED DECEMBER 31, 2005 AND 2004

<PAGE>
                                             PIZZA INN, INC. 401(K) SAVINGS PLAN


                                                                        CONTENTS



REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM                        3


FINANCIAL STATEMENTS

     Statements of Net Assets Available for Benefits -
          December 31, 2005 and 2004                                           4

     Statement of Changes in Net Assets Available for Benefits-
          Year Ended December 31, 2005                                         5

     Notes to Financial Statements                                             6


SUPPLEMENTAL SCHEDULES

     Schedule of Assets (Held at End of Year)                                 15

     Schedule of Reportable Transactions                                      16

Note:  Other  schedules  required  by Section 2520.103 - 10 of the Department of
Labor's  Rules  and  Regulations for Reporting and Disclosure under the Employee
Retirement  Income Security Act ("ERISA") of 1974 have been omitted because they
are  not  applicable.





<PAGE>


REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


To  the  Participants  and  Administrator
Pizza  Inn,  Inc.  401(k)  Savings  Plan
The  Colony,  Texas

We have audited the accompanying statements of net assets available for benefits
of the Pizza Inn, Inc. 401(k) Savings Plan as of December 31, 2005 and 2004, and
the  related  statement  of changes in net assets available for benefits for the
year  ended December 31, 2005. These financial statements are the responsibility
of  the  Plan's management. Our responsibility is to express an opinion on these
financial  statements  based  on  our  audits.

We  conducted  our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements  are free of material misstatement. The Plan is not required to have,
nor were we engaged to perform, an audit of its internal controls over financial
reporting.  Our audits included consideration of internal control over financial
reporting  as a basis for designing audit procedures that are appropriate in the
circumstances,  but  not  for  the  purpose  of  expressing  an  opinion  on the
effectiveness  of  the  Plan's  internal  control  over  financial  reporting.
Accordingly, we express no such opinion.  An audit also includes examining, on a
test  basis,  evidence  supporting  the amounts and disclosures in the financial
statements,  assessing  the accounting principles used and significant estimates
made  by  management,  as  well  as  evaluating  the overall financial statement
presentation.  We  believe  that  our  audits provide a reasonable basis for our
opinion.

In  our  opinion,  the financial statements referred to above present fairly, in
all  material  respects, the net assets available for benefits of the Pizza Inn,
Inc.  401(k)  Savings  Plan as of December 31, 2005 and 2004, and the changes in
net  assets  available  for  benefits  for  the  year ended December 31, 2005 in
conformity with accounting principles generally accepted in the United States of
America.

Our  audit  was  made  for  the  purpose  of forming an opinion on the financial
statements taken as a whole.  The supplemental Schedule of Assets and Reportable
Transactions  at  December  31, 2005 are presented for the purpose of additional
analysis  and are not a required part of the basic financial statements, but are
supplementary  information  required  by  the  Department  of  Labor's Rules and
Regulations  for  Reporting  and Disclosure under the Employee Retirement Income
Security Act of 1974. These supplemental schedules are the responsibility of the
Plan's  Management.  The  supplemental  schedules  have  been  subjected  to the
auditing procedures applied in the audit of the basic financial statements, and,
in our opinion, are fairly presented in all material respects in relation to the
basic  financial  statements  taken  as  a  whole.

/s/ BDO Seidman LLP

Dallas,  Texas
June  15,  2006

<PAGE>


<TABLE>
<CAPTION>


                                             PIZZA INN, INC. 401(K) SAVINGS PLAN


                                 STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS


<S>                                                          <C>             <C>


December 31,                                            2005                2004
- ------------                                            ----                ----

ASSETS
Investments, at fair value:
  Cash equivalents                              $     302,467        $         -
  Mutual funds                                      2,116,478          1,744,657
  Common/collective fund                                    -            280,916
Pizza Inn, Inc. common stock, at market value
  (180,628 and 281,306 shares at December 31,
   2005 and 2004, respectively)                       522,015            677,526

Participant loans                                     158,973            133,329
                                                   ----------          ---------
Total investments                                   3,099,933          2,836,428

Participant contributions receivable                    7,296                  -
Employer contributions receivable                      35,323                  -
                                                   ----------          ---------
Total contributions receivable                         42,619                  -

NET ASSETS AVAILABLE FOR BENEFITS               $   3,142,552         $2,836,428
- --------------------------------------------------------------------------------
<FN>
                                 See accompanying notes to financial statements.
</TABLE>

<PAGE>

<TABLE>
<CAPTION>


                                             PIZZA INN, INC. 401(K) SAVINGS PLAN


                       STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS


<S>                                                                          <C>



Year ended December 31,                                                     2005
- -----------------------                                                     ----

ADDITIONS
Investment income:
  Net appreciation in the fair value of investments                $     148,658
  Interest and dividends                                                  47,437
                                                                   -------------
Total investment income                                                  196,095
                                                                   -------------
Contributions:
  Participant contributions                                              274,205
  Employer contributions                                                  35,323
  Rollover contributions                                                   2,983
                                                                   -------------
Total contributions                                                      312,511
                                                                   -------------
Total additions                                                          508,606
                                                                   -------------

DEDUCTIONS
Benefits paid to participants and other deductions                       202,482
                                                                   -------------
Total deductions                                                         202,482
                                                                   -------------
Net increase                                                             306,124

NET ASSETS AVAILABLE FOR BENEFITS, beginning of year                   2,836,428
                                                                   -------------
NET ASSETS AVAILABLE FOR BENEFITS, end of year                   $     3,142,552
- --------------------------------------------------------------------------------
<FN>
                                 See accompanying notes to financial statements.
</TABLE>

<PAGE>
                                             PIZZA INN, INC. 401(K) SAVINGS PLAN


                                                   NOTES TO FINANCIAL STATEMENTS


1.  DESCRIPTION OF THE PLAN


          The  following  description of the Pizza Inn, Inc. 401(k) Savings Plan
"the  Plan"  provisions  provide  only general information.  Participants should
refer  to  the Plan agreement for more complete information regarding the Plan's
definitions,  benefits,  eligibility  and  other  matters.

          General  - The Plan was approved and adopted by the board of directors
          -------
of  Pizza Inn, Inc. (the "Company/Employer") on May 30, 1985 and was implemented
on  July 1, 1985.  The Plan is a defined contribution plan and is subject to the
provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"). The
Plan  is  qualified  under  sections  401(a),  401(k) and 501(a) of the Internal
Revenue Code ("Code") and, accordingly, is exempt from federal income taxes.  On
January 1, 2002, the Plan was amended to comply with the Economic Growth and Tax
Relief  Reconciliation  Act  signed  into  law  on  June 8, 2001.  The financial
statements  are  prepared  with  the assumption that the Plan has maintained its
exemption  under  the  Code  (see  Note  3).

          Administration - The Company is responsible for the administration and
          --------------
operation of the Plan.  BISYS Retirement Services, Inc. (the "Recordkeeper") has
been  retained  to  provide recordkeeping services for the Plan.  Frontier Trust
Company  is  responsible  for  the  custody and management of the Plan's assets.

          Participation  -   The Plan participation requirements allow employees
          -------------
who  have  six months of service with the Company and who are 21 years of age or
older  to  participate  in  the  Plan.

          Participants  can  defer  up  to  30%  of  their  salary  toward  Plan
contributions.  Matching  contributions  can  be  made  at the discretion of the
Company.  Effective  July  1,  2004, the Company elected to suspend matching the
participants'  contributions.  Effective  July  1,  2005, the Company elected to
match  contributions  equal  to  50%  up  to  the  first 4% of the participants'
contributions.  The  matching  Company  contribution is to be invested after the
Company's  fiscal  year  end, June 25, 2006. In addition, at the election of the
board  of  directors,  the  Company may make discretionary contributions.  There
were  no additional discretionary contributions made for the year ended December
31, 2005.  Rollover contributions from other qualified plans can be added to the
Plan  by  eligible  participants.

          For the plan year ended December 31, 2005, the Plan passed the average
deferral percentage discrimination testing.

          Participant Accounts - Each participant's account is credited with the
          --------------------
participant's  contribution  and an allocation of the Company's contribution and
plan  earnings.  The  benefit  to which a participant is entitled is the benefit
that  can  be provided from the participant's vested accounts.  Participants may
direct  the investment of their account balances into various investment options
offered  by the Plan.  Currently, the Plan offers eleven mutual funds, one money
market trust fund and common stock of the Plan sponsor as investment options for
participants.

          Vesting  -  Participant  contributions,  and the earnings thereon, are
          -------
fully and immediately vested.  Company contributions vest at the rate of 25% per
year  over  four  years  of  service.

          Forfeitures  -  For  the  year  2005,  forfeitures of unvested Company
          -----------
matching  contributions  by terminated employees were accumulated and applied to
administrative  expenses.  The  unallocated forfeited, nonvested account balance
as  of  December  31,  2005  and  2004  was  $0  and  $1,286,  respectively.

          Participant Loans - Participants may obtain a loan from the Plan in an
          -----------------
amount  not  to  exceed  50% of their vested balance up to a maximum of $50,000.
The  minimum loan available is $1,000.  Loans bear interest at a rate of 2% over
prime  and are collateralized by the participant's vested account balance.  Loan
principal and interest is repaid ratably through monthly payroll deductions over
a  maximum  period  of  five  years,  except  for  the  purchase  of a principal
residence,  which  may  be  repaid  over a reasonable period of time that may be
longer  than  five  years.


          Payment  of Benefits - Terminated participants are entitled to receive
          --------------------
100%  of their contributions to the Plan and any income or loss thereon, as well
as  their  vested  portion  of  the Company contributions and any income or loss
thereon.  Generally,  benefits  attributable  to  employer contributions are not
payable  prior  to termination.  However, hardship distributions of a portion of
the  employee's  contribution and employer's contribution, to the extent vested,
may  be  made  to the participant in certain situations, as defined in the Plan.

          Terminated  employees may continue to participate in the Plan, and the
expenses  related  to  their  participation  are  paid  by  the  Company.

          Plan  Termination - Although it has not expressed any intent to do so,
          -----------------
the Company maintains the right to terminate the Plan at any time.  In the event
that  the  Plan  is  terminated,  the  participants  become 100% vested in their
accounts.

        Administrative Expenses - The Company pays substantially all
       ------------------------
administrative expenses associated with the administration of the  Plan.

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

          Basis  of Accounting -   The Plan's financial statements are presented
          --------------------
using  the accrual method of accounting in conformity with accounting principles
generally  accepted  in  the  United  States  of  America.

          Use  of  Estimates  -  The  preparation  of  financial  statements  in
          ------------------
conformity with accounting principles generally accepted in the United States of
America  requires  Plan management to make significant estimates and assumptions
that  affect  the  reported amounts of assets, liabilities, and changes therein,
and  disclosure  of  contingent  assets  and  liabilities.  Actual results could
differ  significantly  from  those  estimates.

          Investments and Investment Income - The Plan's investments are exposed
          ---------------------------------
to  various  risks,  such as interest rate, market and credit risks.  Due to the
level  of  risk associated with investments in mutual funds and stocks, it is at
least  reasonably  possible  that changes in the values of such investments will
occur  in  the  near  term  and  that  such  changes  could  materially  affect
participants' account balances and the amounts reported in the statements of net
assets  available  for  benefits.

          Mutual  funds  are valued at the net asset value (fair value) per unit
(share)  of  the  fund  or  the  portfolio.  The fair value has been measured by
quoted  market  prices in an active market.  Investments in the Company's common
stock  are  valued  at the fair value as determined by the closing quoted market
price  on  December  31, 2005. Participant loans are valued at their outstanding
balances, which approximates their fair value. Purchases and sales of securities
are  recorded  on  a  trade-date  basis.

          Dividends  are recorded on the ex-dividend date.  Interest is recorded
on  the  accrual  basis.

          Determination of Unrealized Appreciation/Depreciation and Gain or Loss
          ----------------------------------------------------------------------
on  Investments  -  The  Plan presents in the Statement of Changes in Net Assets
- ---------------
Available  for Benefits the net appreciation (depreciation) in the fair value of
its  investments,  which  consists  of  the  realized  gains  or losses, and the
unrealized  appreciation  (depreciation)  on  those  investments.

          Unrealized  appreciation  or  depreciation  in  the  fair  value  of
investments  held at year-end and gain or loss on sale of investments during the
year  are  determined  using  the  fair  value  at  the beginning of the year or
purchase  price  if  acquired  during  the  year.

          Participant  Loans  -  Participant  loans  are valued at original loan
          ------------------
value, plus accrued interest, less principal repayments, which approximates fair
value.  Interest  rates  on the loans range from 6.00% to 10.25% at December 31,
2005.

          Payment of Benefits - Benefits are recorded when paid.
          -------------------


3. TAX STATUS OF PLAN

          Management believes that the Plan is qualified under section 401(a) of
the  Internal Revenue Code and therefore, the Plan is exempt from taxation under
section 501(a).  The Internal Revenue Service ("IRS") granted a favorable letter
of  determination  to  the  Plan  in  1986.  During  1997  and 2001, the Company
received  favorable  letters of determination from the IRS for amendments to the
Plan. Generally, contributions to a qualified plan are deductible by the Company
when made.  Earnings of the Plan are tax deferred and participants are not taxed
on  their  benefits  until  withdrawn  from  the  Plan.

          Management is unaware of any variations in the operation of the  Plan
from  the  terms  of  the  Plan documents, as amended. Management  believes  the
Plan is qualified under the applicable sections of the Code  and  the  Employee
Retirement  Income  Security  Act  of  1974.




4.     INVESTMENTS

          The  following  presents  investments that represent 5% or more of the
Plan's  net  assets:
<TABLE>
<CAPTION>

<S>                                                          <C>             <C>

December 31,                                              2005              2004
- ------------                                             -----              ----
Pizza Inn, Inc. common stock                          $522,015      $    677,526
Wells Fargo Stable Return EBT Fund                           -           280,916
Janus Fund                                                   -           305,956
Franklin Small-Cap Growth Fund                               -           208,024
Fidelity Advisors High Yield Fund                            -           166,005
MFS Total Return A                                           -           188,359
Wells Fargo Index                                            -           167,307
American Century Equity Income                               -           168,441
Strong Small Cap Value                                       -           203,161
ML Retirement Preservation Trust                       302,467                 -
Hotchkis and Wiley Large Cap Value R                   192,438                 -
ML Large Cap Growth Fund R                             384,926                 -
Goldman Sachs Mid Cap Value                            221,541                 -
Franklin Small Cap Value R                             272,639                 -
John Hancock Small Cap Equity Fund R                   242,399                 -
ML S&P 500 Index Class A                               160,883                 -
Delaware Diversified Income Fund Class R               158,316                 -
Participant Loans                                      158,973                 -
                                                    ----------         ---------
Total investments greater than 5%                    2,616,597         2,365,695
Total investments less than 5%                         483,336           470,733
                                                    ----------         ---------
Total investments                                 $  3,099,933       $ 2,836,428
- --------------------------------------------------------------------------------
</TABLE>
          During  2005,  the  Plan's  investments (including gains and losses on
investments  bought  and  sold,  as well as held during the year) appreciated in
value  by  $148,658  as  follows:

<TABLE>
<CAPTION>
<S>                                                                          <C>


Year ended December 31,                                                     2005
- ----------------------                                                      ----
  Mutual funds                                                      $    157,061
  Pizza Inn, Inc. common stock                                           (8,403)
                                                                    ------------
                                                                    $    148,658
- --------------------------------------------------------------------------------
</TABLE>
5. NON-PARTICIPANT-DIRECTED INVESTMENTS

          Employer  contributions  are automatically invested in Pizza Inn, Inc.
common  stock.  Employees  also have the option of investing their contribution,
or  a portion thereof, in Pizza Inn, Inc. common stock.  Effective July 8, 2003,
the  Plan  was amended to allow participants to move Employer contributions from
employer  common  stock to other investment options provided by the Plan.  Since
the activity of the nonparticipant-directed and participant-directed investments
are combined, the entire investment option is considered nonparticipant-directed
for  purposes  of  this  disclosure.  Information  about  the net assets and the
significant  components  of  the  changes  in  net  assets  relating  to
nonparticipant-directed  investments  is  as  follows:




<TABLE>
<CAPTION>




<S>                                                          <C>             <C>

December 31,                                             2005               2004
- -----------                                              ----               ----

NET ASSETS
 Pizza Inn, Inc. common stock                        $ 522,015        $  677,526
- --------------------------------------------------------------------------------

Year Ended December 31,                                                     2005
- ----------------------                                                      ----
CHANGES IN NET ASSETS
  Contributions                                                     $     8,213
  Interest income                                                           140
  Net depreciation                                                     (  8,403)
Benefits paid to participants                                           (36,989)
Transfers to participant-directed investments                          (118,472)
                                                                      ----------
                                                                    $  (155,511)
- --------------------------------------------------------------------------------
</TABLE>

6.     PARTY-IN-INTEREST TRANSACTIONS


          One  of the Plan's investment  options is in shares of Pizza Inn, Inc.
common  stock.  Pizza  Inn,  Inc.  sponsors  the  Plan;  therefore,  the related
transactions  are  deemed  party-in-interest  transactions.  The  Plan  recorded
purchases of $9,460 and sales of $156,991 of the Company's stock during the year
ended  December  31,  2005.

          Certain Plan investments are shares of mutual funds managed by Merrill
Lynch  or  its  affiliates. This institution serves as investment advisor to the
Plan  and,  therefore,  these  investments  are  deemed  party-in-interest
transactions.  In  addition,  the  Plan  has  a  program  to  provide  loans  to
participants and therefore these also are deemed party-in-interest transactions.



<PAGE>







                                                          SUPPLEMENTAL SCHEDULES












<PAGE>


<TABLE>
<CAPTION>

                                             PIZZA INN, INC. 401(K) SAVINGS PLAN


                  SCHEDULE H, LINE 4I - SCHEDULE OF ASSETS (HELD AT END OF YEAR)


<S>       <C>                                  <C>             <C>           <C>



                                                                EIN:  47-0654575
                                                                Plan Number: 005
                                                                ----------------
December 31, 2005                                                     Schedule I
- -----------------                                                     ----------
                                             (c)
         (b)                    Description of investment,
     Identity of issuer,         including maturity date, rate               (e)
    borrower lessor or,         of interest, collateral, par or   (d)    Current
(a)   similar party                    maturity value             Cost     value
- --- -----------------------  -----------------------------------   ---      ----
* ML Retirement Preservation Trust      Cash Equivalent             ** $ 302,467
* ML S&P 500 Index Class A                 Mutual Fund              **   160,883
  Franklin Small Cap Value R               Mutual Fund              **   272,639
* ML Large Cap Growth Fund R               Mutual Fund              **   384,926
  Goldman Sachs Mid Cap Value              Mutual Fund              **   221,541
* ML Global Allocation Fund Cl R           Mutual Fund              **   120,576
  Federated Kaufmann Fund Class K          Mutual Fund              **   115,157
* ML US High Yield Fund R                  Mutual Fund              **   154,559
  Hotchkis and Wiley Large Cap Value R     Mutual Fund              **   192,438
  John Hancock Small Cap Equity Fund R     Mutual Fund              **   242,399
  Goldman Sachs Govt Income Fund Class S   Mutual Fund              **    93,044
  Delaware Diversified Income Fund Class R Mutual Fund              **   158,316
  Pizza Inn, Inc.                          Common Stock             **   522,015
* Participant loans                 General purpose loans
                                    maturing from 2006-2010;
                               bearing interest at 6.00% to 10.25%  **   158,973
                                                                      ----------
  Total assets held for investment purposes                           $3,099,933
- --------------------------------------------------------------------------------
<FN>

* - Party-in interest
** - Cost not required for participant-directed investments.
       See accompanying Report of Independent Registered Public Accounting Firm.
</TABLE>
<PAGE>
                                             Pizza Inn, Inc. 401(k) Savings Plan
                                             Schedule of Reportable Transactions


                                                                EIN:  47-0654575
                                                                Plan Number: 005
                                                                ----------------
Year Ended December 31, 2005                                         Schedule II
<TABLE>
<CAPTION>



<S>                 <C>                    <C>              <C>             <C>             <C>
                                                                                                  (I)
(a)                                   (b)             ( c)             (d)             (g)  Net Gain
Identity of Party   Description of Asset   Purchase Price   Selling Price   Cost of Asset   or (Loss)
- ------------------  ---------------------  ---------------  --------------  --------------  ---------
Series of transactions within the plan year with respect to securities of the same issue that , when
aggregated, involve more than 5% of the current value of plan assets:
Pizza Inn, Inc      Common Stock                     9,460               -        9,460            -
Pizza Inn, Inc      Common Stock                                   156,991      168,274      (11,283)
- ------------------  ---------------------  ---------------  --------------  --------------  ---------

<FN>

                             See accompanying Report of Independent Registered Public Accounting Firm
</TABLE>







                                   SIGNATURES

Pursuant  to  the  requirements of the Securities Exchange Act of 1934, the Plan
Administrator  has  duly caused this annual report to be signed on its behalf by
the  undersigned  hereunto  duly  authorized.

                           Administrative Committee for the
                           Pizza  Inn,  Inc.  401(k)  Savings  Plan

DATE  June  29,  2006      By:/s/  Susan  Milliman
                                   Susan  Milliman
                                   Member  of  the  Pizza  Inn,  Inc.
                                   401(k)  Savings  Plan
                                   Administrative  Committee






</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>2
<FILENAME>consent.txt
<DESCRIPTION>CONSENT
<TEXT>
       CONSENT  OF  REGISTERED  INDEPENDENT  ACCOUNTING  FIRM


Pizza  Inn,  Inc.  401(k)  Savings  Plan
The Colony,  Texas

We  hereby  consent  to  the  incorporation  by  reference  in  the Registration
Statement  on Form S-8 (No. 33-56590) of our report dated June 15, 2006 relating
to  the financial statements and schedules of the Pizza Inn, Inc. 401(k) Savings
Plan  appearing  on  this  Form  11-K  for  the  year  ended  December 31, 2005.

/s/ BDO Seidman, LLP




Dallas,  Texas
June  29,  2006

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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