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Subsequent Events
6 Months Ended
Mar. 31, 2012
Subsequent Events

Note 12.         Subsequent Events

 

We have entered into a letter of intent and are negotiating the final contract terms for a sale leaseback transaction with an unrelated third party related to one company-owned restaurant in Firestone, Colorado.  If consummated the transaction would provide approximately $1,400,000 of net proceeds.  We also entered into a contract with an unrelated third party on May 10, 2012 for the sale of one company-owned restaurant for $630,000, subject to certain buyer contingencies. Neither transaction will result in material gains or losses.  We anticipate using the proceeds from the transactions to reduce notes payable of $1,634,000 and to increase our working capital.