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<SEC-DOCUMENT>0000950134-06-016923.txt : 20060829
<SEC-HEADER>0000950134-06-016923.hdr.sgml : 20060829
<ACCEPTANCE-DATETIME>20060829112802
ACCESSION NUMBER:		0000950134-06-016923
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060828
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20060829
DATE AS OF CHANGE:		20060829

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:		061060952

	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>8-K
<SEQUENCE>1
<FILENAME>d39242e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>e8vk</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<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 style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

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

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>


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


<DIV align="left" style="font-size: 10pt; margin-top: 18pt">Date of Report (Date of earliest event reported) <B>August&nbsp;28, 2006</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Pizza Inn, Inc.</B>
</DIV>

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


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <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>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>3551 Plano Parkway, The Colony, Texas</B><BR>
(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>75056</B><BR>
(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Registrant&#146;s telephone number, including area code <B>(469)&nbsp;384-5000</B>

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Not Applicable</B><BR>
(Former name or former address, if changed since last report)
</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt">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):</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</DIV>


<DIV align="left" style="margin-left: 0%; text-indent: 0%; margin-right: 0%; font-size: 10pt; margin-top: 6pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





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

<!-- PAGEBREAK -->
<P><HR noshade><P>

<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>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<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;7.01 Regulation&nbsp;FD Disclosure.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#002">Item&nbsp;9.01 Financial Statements and Exhibits.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#003">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="d39242exv99w1.htm">Press Release</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<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>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1.01 Entry Into a Material Definitive Agreement</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;28, 2006, Pizza Inn, Inc., (the &#147;Company&#148;) entered into agreements with The SYGMA
Network, Inc. (&#147;SYGMA&#148;) and The Institutional Jobbers Company (&#147;IJ&#148;) to provide warehousing and
delivery of food and restaurant supplies to the Company&#146;s system of franchised and Company-operated
Pizza Inn<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> restaurants. Pursuant to the distribution service agreements, under which services will
begin on November&nbsp;1, 2006, (i)&nbsp;SYGMA, a subsidiary of SYSCO Corporation, will distribute to Pizza
Inn restaurants in Arkansas, Florida, Missouri, New Mexico, Oklahoma, South Dakota and Texas, and
(ii)&nbsp;IJ will distribute to Pizza Inn restaurants in Alabama, Georgia, Illinois, Indiana, Kentucky,
Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On August&nbsp;28, 2006, SYGMA and the Company also entered into a 35-month lease agreement at
market rates for SYGMA&#146;s lease of the Company&#146;s 102,000 square foot warehouse and distribution
facility in The Colony, Texas commencing on November&nbsp;1, 2006. SYGMA and the Company have also
entered into a one-month access agreement providing SYGMA with access to the facility commencing on
October&nbsp;1, 2006. During the term of the lease SYGMA will provide its services for the Company from
that facility. In connection with its use of the facility, SYGMA has agreed to purchase or assume
leases for certain of the Company&#146;s assets used in connection with the operation of the facility
and the performance of distribution services, including certain refrigerated trailers currently
operating as a part of the distribution fleet of the Company&#146;s operating division, Norco Restaurant
Services Company (&#147;Norco&#148;). IJ has indicated that it may elect to purchase or assume leases for
certain other refrigerated trailers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until November&nbsp;1, 2006, the Company expects to continue to perform distribution services to
its restaurants through Norco from The Colony, Texas warehouse. Beginning on November&nbsp;1, 2006,
Norco is expected to continue to provide services for the Company&#146;s restaurants by performing
certain purchasing, quality assurance, research and development, order acceptance and management,
inventory control, customer service, logistics support, and billing functions. The Company expects
to continue to own the significant majority of the inventory warehoused and distributed by IJ and
SYGMA, and franchisees are expected to continue to purchase such products from Norco. In addition,
the Company expects to continue to receive orders for delivery from franchisees and to perform all
billing and collecting for amounts due from franchisees for all products purchased from Norco and
delivered by IJ or SYGMA.
</DIV>
<!-- link2 "Item&nbsp;7.01 Regulation&nbsp;FD Disclosure." -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7.01 Regulation&nbsp;FD Disclosure.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pizza Inn, Inc. elects to disclose the information in the press release furnished as Exhibit
99.1 to this report and incorporated herein by reference through Form 8-K pursuant to Regulation
FD.
</DIV>
<!-- link2 "Item&nbsp;9.01 Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <B>(c)</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B> Exhibits.</B>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description of Exhibit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated August&nbsp;28, 2006 (furnished herewith and incorporated herein by reference)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


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

<!-- link2 "SIGNATURES" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&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.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <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:  August 28, 2006&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Timothy P. Taft
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Timothy P. Taft,&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President and Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d39242exv99w1.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<P><DIV style="position: relative; float: left; width: 48%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR IMMEDIATE RELEASE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contact:<BR>
Michelle Smith<BR>
m strategies inc. for Pizza Inn<BR>
214/741-2100</B><BR>
<u><B>michelle@mstrategiesinc.com</B></u>

</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 48%">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="d39242d3924200.gif" alt="(PIZZA INN LOGO)">
</DIV>

</DIV>
<BR clear="all"><BR>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NEW DISTRIBUTION AGREEMENTS TO REDUCE COSTS FOR PIZZA INN<BR>
AND ITS FRANCHISE SYSTEM</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Move Improves Efficiencies of &#147;Last Link&#148; in Supply Chain<BR>
and Unit-Level Economics
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>The Colony, Texas &#150; August&nbsp;28, 2006 &#151; Pizza Inn, Inc. (NASDAQ:PZZI) </B>today announced a significant
change to its supply chain that will reduce costs at its wholly-owned distribution division, NORCO
Restaurant Services Company. The announcement represents a dramatic shift for the 48-year-old
brand, which, until now, distributed supplies, goods and other products from its headquarters in
The Colony, Texas, to its almost 300 domestic franchise operations located from its western
boundaries of New Mexico and South Dakota to its eastern boundaries of Virginia and Florida.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company will dramatically improve its cost structure by outsourcing distribution services,
resulting in savings on rising fuel costs, overhead and maintenance expenses. As a result of these
cost reductions, the Company will lower product costs for franchisees. It is one of the most
aggressive tactics the Company has taken since President &#038; Chief Executive Officer Tim Taft took
the helm in 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has recently signed distribution agreements with two different service providers, which
are expected to take effect on November&nbsp;1, 2006. Distribution agreements have been entered into
with The SYGMA Network, a subsidiary of SYSCO Corporation (NYSE: SYY), and Institutional Jobbers
Company (&#147;IJ&#148;), a privately-held Tennessee-based company. The new distribution agreements provide
that SYGMA will be responsible for distributing food and other supplies to Pizza Inn locations in
the midwestern and western parts of the United States while IJ will be responsible for distributing
to locations in the eastern part of the country. SYGMA will also lease the Company&#146;s existing
warehouse facility. Franchisees will still be able to use NORCO for all other services, including
ordering, billing, support, R&#038;D and quality assurance. NORCO transportation and warehouse personnel
will be provided employment opportunities with SYGMA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Tim Taft, President and Chief Executive Officer commented, &#147;This is one of the most significant
events that has taken place at Pizza Inn in recent years. The cost savings we realize will improve
franchisee economics without compromising the Company&#146;s profitability. We also expect this change
to be a catalyst for the recruitment of new franchisees to the system as well as future development
from our existing base of operators.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;If you look at the entire supply chain from manufacturing to the delivery of groceries to
restaurants, outsourcing the logistics of delivering groceries to the restaurants was the ideal
solution,&#148; said Jack Odachowski, Vice President of Supply Chain Management for Pizza Inn.
&#147;Innovation and creative thinking have produced an exciting opportunity for Pizza Inn and its
franchisees.&#148;
</DIV>

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

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<P><DIV style="position: relative; float: left; width: 48%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>FOR IMMEDIATE RELEASE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Contact:<BR>
Michelle Smith<BR>
m strategies inc. for Pizza Inn<BR>
214/741-2100</B><BR>
<u><B>michelle@mstrategiesinc.com</B></u>

</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 48%">

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><IMG src="d39242d3924200.gif" alt="(PIZZA INN LOGO)">
</DIV>

</DIV>
<BR clear="all"><BR>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Larry Rust, President of the Pizza Inn Franchise Association, commented on the new approach to
distribution. &#147;For the first time we feel as if we have a management team that has the best
interest of the franchisees at heart and the integrity to realize that the Company&#146;s future growth
can only be realized when franchisees and shareholders both prosper.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pizza Inn, Inc. (www.pizzainn.com<B>) </B>is headquartered in The Colony, Texas, along with its
distribution division, NORCO Restaurant Services Company. Pizza Inn franchises approximately 370
restaurants and owns three restaurants with annual chain-wide sales of approximately $155&nbsp;million.
</DIV>



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


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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
