General

Jake's Pizza International, Inc. ("Company") was incorporated in Delaware on April 26, 1993 and is a successor by merger, effective on May 27, 1993, of an Illinois corporation known as "Jake's International, Inc." incorporated on April 25, 1974. As used in this Annual Report, unless the context otherwise requires, the term "Company" includes Jake's Pizza International, Inc., a Delaware corporation, and its predecessor.

The Company operates and franchises pizza restaurants known as "Jake's Pizza" restaurants which specialize in the sale of pizza, utilizing what the Company believes are distinctive recipes,...