0001140361-21-031888 | 10-K | XBRL Viewer | Rave Restaurant Group INC

Print Document View Excel Document

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Jun. 27, 2021	Aug. 30, 2021	Dec. 27, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Jun. 27, 2021
Current Fiscal Year End Date	--06-27
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	RAVE RESTAURANT GROUP, INC.
Entity Central Index Key	0000718332
Entity Address, State or Province	TX
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 16.2
Entity Common Stock, Shares Outstanding		18,004,904

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
REVENUES:	$ 8,593	$ 10,028
COSTS AND EXPENSES:
Cost of sales	264	439
General and administrative expenses	4,710	5,503
Franchise expenses	2,394	3,051
Gain on sale of assets	(10)	(24)
Impairment of long-lived assets and other lease charges	21	880
Bad debt expense	121	53
Interest expense	92	95
Depreciation and amortization expense	167	186
Total costs and expenses	7,759	10,183
OTHER INCOME:
Gain on forgiveness of PPP loan	(657)	0
Total other income	(657)	0
INCOME (LOSS) BEFORE TAXES	1,491	(155)
Income tax (benefit) expense	(29)	4,078
NET INCOME (LOSS)	$ 1,520	$ (4,233)
INCOME (LOSS) PER SHARE OF COMMON STOCK - BASIC: (in dollars per share)	$ 0.09	$ (0.28)
INCOME (LOSS) PER SHARE OF COMMON STOCK - DILUTED: (in dollars per share)	$ 0.09	$ (0.28)
Weighted average common shares outstanding - basic (in shares)	17,307	15,144
Weighted average common and potential dilutive common shares outstanding (in shares)	18,105	15,144

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 27, 2021	Jun. 28, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 8,330	$ 2,969
Restricted cash	0	234
Accounts receivable, less allowance for bad debts of $47 and $269, respectively	911	965
Notes receivable, current	901	546
Deferred contract charges, current	35	44
Prepaid expenses and other	196	174
Total current assets	10,373	4,932
LONG-TERM ASSETS
Property, plant and equipment, net	445	366
Operating lease right of use asset, net	2,085	3,567
Intangible assets definite-lived, net	183	155
Notes receivable, net of current portion	52	449
Deferred contract charges, net of current portion	207	231
Deposits and other	0	5
Total assets	13,345	9,705
CURRENT LIABILITIES
Accounts payable - trade	644	446
Accounts payable - lease termination impairments	0	407
Accrued expenses	924	775
Other current liabilities	46	0
Operating lease liability, current	465	632
Short term loan, current	250	0
Convertible notes short term, net of unamortized debt issuance costs and discounts	1,576	0
Deferred revenues, current	626	254
Total current liabilities	4,531	2,514
LONG-TERM LIABILITIES
Convertible notes, net of current portion	0	1,549
PPP loan	0	657
Operating lease liability, net of current portion	1,911	3,471
Deferred revenues, net of current portion	1,170	960
Other long-term liabilities	0	51
Total liabilities	7,612	9,202
COMMITMENTS AND CONTINGENCIES (SEE NOTE K)
SHAREHOLDERS' EQUITY
Common stock, $.01 par value; authorized 26,000,000 shares; issued 25,090,058 and 22,550,376 shares, respectively; outstanding 18,004,904 and 15,465,222 shares, respectively	251	225
Additional paid-in capital	37,215	33,531
Accumulated deficit	(7,196)	(8,716)
Treasury stock at cost Shares in treasury: 7,085,154 and 7,085,154, respectively	(24,537)	(24,537)
Total shareholders' equity	5,733	503
Total liabilities and shareholders' equity	$ 13,345	$ 9,705

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 27, 2021	Jun. 28, 2020
CURRENT ASSETS
Accounts receivable, allowance for bad debts	$ 47	$ 269
SHAREHOLDERS' EQUITY
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	26,000,000	26,000,000
Common stock, shares issued (in shares)	25,090,058	22,550,376
Common stock, shares outstanding (in shares)	18,004,904	15,465,222
Treasury stock at cost (in shares)	7,085,154	7,085,154

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Total
Beginning balance at Jun. 30, 2019	$ 222	$ 33,327	$ (4,483)	$ (24,632)	$ 4,434
Beginning balance (in shares) at Jun. 30, 2019	22,208,000			(7,117,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation expense	$ 0	(104)	0	$ 0	(104)
Conversion of senior notes, net	$ 0	(31)	0	$ 95	64
Conversion of senior notes, net (in shares)	0			32,000
Issuance of common stock	$ 3	354	0	$ 0	357
Issuance of common stock (in shares)	342,000			0
Equity issue costs - ATM offering	$ 0	(15)	0	$ 0	(15)
Net Income	0	0	(4,233)	0	(4,233)
Ending balance at Jun. 28, 2020	$ 225	33,531	(8,716)	$ (24,537)	$ 503
Ending balance (in shares) at Jun. 28, 2020	22,550,000			(7,085,000)	15,465,222
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation expense	$ 0	80	0	$ 0	$ 80
Issuance of common stock	$ 26	3,735	0	$ 0	3,761
Issuance of common stock (in shares)	2,540,000			0
Equity issue costs - ATM offering	$ 0	(131)	0	$ 0	(131)
Net Income	0	0	1,520	0	1,520
Ending balance at Jun. 27, 2021	$ 251	$ 37,215	$ (7,196)	$ (24,537)	$ 5,733
Ending balance (in shares) at Jun. 27, 2021	25,090,000			(7,085,000)	18,004,904

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 1,520	$ (4,233)
Adjustments to reconcile net income (loss) to cash used in operating activities:
Impairment of long-lived assets and other lease charges	21	880
Stock compensation expense	80	(104)
Depreciation and amortization	131	145
Amortization of operating right of use assets	569	471
Amortization of intangible assets definite-lived	36	41
Amortization of debt issue costs	27	29
Gain on the sale of assets	(10)	(24)
Provision for bad debt	7	53
Bad debt on notes receivable	114	0
Gain on forgiveness of PPP loan	(657)	0
Deferred income tax	0	4,060
Changes in operating assets and liabilities:
Accounts receivable	47	132
Notes receivable	(119)	104
Deferred contract charges	33	(6)
Inventories	0	7
Prepaid expenses and other	(22)	167
Deposits and other	5	0
Accounts payable - trade	198	46
Accounts payable - lease termination impairments	(428)	(985)
Accrued expenses	149	(46)
Other current liabilities	46	0
Operating lease liability	(793)	(494)
Deferred revenue	582	(581)
Other long-term liabilities	(51)	(22)
Cash provided by/(used in) operating activities	1,485	(360)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments received on notes receivable	47	123
Proceeds from sale of assets	1	0
Purchase of intangible assets definite-lived	(74)	0
Purchase of property, plant and equipment	(212)	(56)
Cash provided by/(used in) investing activities	(238)	67
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from sale of stock	3,761	357
Equity issuance costs - ATM offering	(131)	(15)
Proceeds from PPP loan	0	657
Short term loan, current	250	0
Cash provided by financing activities	3,880	999
Net increase/(decrease) in cash, cash equivalents and restricted cash	5,127	706
Cash, cash equivalents and restricted cash, beginning of period	3,203	2,497
Cash, cash equivalents and restricted cash, end of period	8,330	3,203
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents	8,330	2,969
Restricted cash	0	234
Cash, cash equivalents and restricted cash, end of period	8,330	3,203
CASH PAID FOR:
Interest	64	66
Income taxes	23	18
Non-cash activities:
Conversion of notes to common shares	0	64
Operating lease right of use assets at adoption	0	4,150
Operating lease liability at adoption	0	4,894
Gain on forgiveness of PPP loan	$ 657	$ 0

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Jun. 27, 2021

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE A - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Description of Business:

Rave Restaurant Group, Inc. and its subsidiaries (collectively referred to as the “Company”, or in the first person notations of “we”, “us” and “our”) franchise pizza buffet, delivery/carry-out and express restaurants domestically and internationally under the trademark “Pizza Inn” and franchise domestic fast casual restaurants under the trademarks “Pie Five Pizza Company” or “Pie Five”. The Company also licenses pizza kiosks under the “Pizza Inn” trademark. We facilitate the procurement and distribution of food, equipment and supplies to our domestic and international system of restaurants through agreements with third party distributors.

As of June 27, 2021, we had 33 franchised Pie Five Units, 156 franchised Pizza Inn restaurants, and 11 licensed Pizza Inn Express, or PIE, kiosks (“PIE Units”). The 124 domestic franchised Pizza Inn restaurants were comprised of 70 pizza buffet restaurants (“Buffet Units”), 10 delivery/carry-out restaurants (“Delco Units”), and 44 express restaurants (“Express Units”). As of June 27, 2021, there were 32 international franchised Pizza Inn restaurants. Domestic Pizza Inn restaurants and kiosks were located predominantly in the southern half of the United States, with Texas, Arkansas, North Carolina and Mississippi accounting for approximately 25%, 21%, 16% and 8%, respectively, of the total number of domestic units.

Principles of Consolidation:

The consolidated financial statements include the accounts of Rave Restaurant Group, Inc. and its subsidiaries, all of which are wholly owned. All appropriate inter-company balances and transactions have been eliminated.

Cash and Cash Equivalents:

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Restricted cash of $0.2 million as of June 28, 2020 consisted of an interest-bearing money market account restricted pursuant to a letter of credit for an insurance claim dating back to the mid-1980’s. The $0.2 million in restricted cash was released during the third quarter of fiscal 2021.

Concentration of Credit Risk:

Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. Balances in accounts are insured up to Federal Deposit Insurance Corporation (“FDIC”) limits of $250 thousand per institution. At June 27, 2021 and June 28, 2020, the Company had cash balances in excess of FDIC insurance coverage of approximately $8.0 million and $2.7 million, respectively. We do not believe we are exposed to any significant credit risk on cash and cash equivalents.

Notes receivable, which potentially subject the Company to concentrations of credit risk, consist primarily of promissory notes from franchise agreements and structured Company-financed sales of assets. At June 27, 2021 and June 28, 2020, and at various times during the fiscal years then ended, the Company had concentrations of credit risk with five franchisees on notes receivables with both short and long term maturities. As of June 27, 2021, the Company had six short term notes receivable with four franchisees and the Company had one note receivable with one franchisee totaling $1.0 million. The financed asset sales were executed with a weighted average interest rate of 0.0%. Principal payments are due monthly and mature from November 1, 2021 to December 1, 2023.

Inventories:

Inventory consists primarily of food, paper products and supplies stored in and used by Company restaurants and is stated at lower of first-in, first-out (“FIFO”) or market.

Closed Restaurants and Discontinued Operations:

In April, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which modifies the definition of discontinued operations to include only disposals of an entity that represent strategic shifts that have or will have a major effect on an entity’s operation and requires entities to disclose information about disposals of individually significant components that do not meet the definition of discontinued operations. The standard was effective prospectively for annual and interim periods beginning after December 15, 2014, with early adoption permitted.

The authoritative guidance on “Accounting for the Impairment or Disposal of Long-Lived Assets,” requires that discontinued operations that meet certain criteria be reflected in the statement of operations after results of continuing operations as a net amount. This guidance also requires that the operations of closed restaurants, including any impairment charges, be reclassified to discontinued operations for all periods presented.

The authoritative guidance on “Accounting for Costs Associated with Exit or Disposal Activities,” requires that a liability for a cost associated with an exit or disposal activity be recognized when the liability is incurred. This authoritative guidance also establishes that fair value is the objective for initial measurement of the liability.

Property, Plant and Equipment:

Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Repairs and maintenance are charged to operations as incurred while major renewals and betterments are capitalized. Upon the sale or disposition of a fixed asset, the asset and the related accumulated depreciation or amortization are removed from the accounts and the gain or loss is included in operations. The Company capitalizes interest on borrowings during the active construction period of major capital projects. Capitalized interest is added to the cost of the underlying asset and amortized over the estimated useful life of the asset.

Depreciation and amortization are computed on the straight-line method over the estimated useful lives of the assets or, in the case of leasehold improvements, over the term of the lease including any reasonably assured renewal periods, if shorter. The useful lives of the assets range from three to ten years.

Impairment of Long-Lived Asset and other Lease Charges:

The Company reviews long-lived assets for impairment when events or circumstances indicate that the carrying value of such assets may not be fully recoverable. Impairment is evaluated based on the sum of undiscounted estimated future cash flows expected to result from use and eventual disposition of the assets compared to their carrying value. If impairment is recognized, the carrying value of an impaired asset is reduced to its fair value, based on discounted estimated future cash flows. During fiscal year 2021, the Company tested its long-lived assets for impairment and recognized $21 thousand in pre-tax, non-cash impairment charges. The Company had lease charges related to closed units of $0.7 million partially offset by $0.2 million in sublease income.

Accounts Receivable:

Accounts receivable consist primarily of receivables generated from franchise royalties. The Company records a provision for doubtful receivables to allow for any amounts that may be unrecoverable based upon an analysis of the Company’s prior collection experience, customer creditworthiness and current economic trends. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Finance charges may be accrued at a rate of 18% per year, or up to the maximum amount allowed by law, on past due receivables. The interest income recorded from finance charges is immaterial.

Notes Receivable:

Notes receivable primarily consist of promissory notes arising from franchisee agreements and structured Company-financed sales of assets. The majority of amounts and terms are evidenced by formal promissory notes and personal guarantees. All notes allow for early payment without penalty. Fixed principal payments are due monthly. Notes receivable mature at various dates through 2023 and bear interest at a weighted average rate of 0.0% at June 27, 2021.

Management evaluates the creditworthiness of franchisees by considering credit history and sales to evaluate credit risk. Management determines interest rates based on credit risk of the underlining franchisee. The Company monitors payment history to determine whether or not a loan should be placed on a nonaccrual status or impaired. The Company charges off notes receivable based on an account-by-account analysis of the borrower’s current economic conditions, monthly payments history and historical loss experience. The allowance for doubtful notes receivable is netted within notes receivable.

The expected principal collections on notes receivable for the next three years were as follows as of June 27, 2021 (in thousands):

	Notes Receivable
2022	$	901
2023		52
2024		–
	$	953

Income Taxes:

Income taxes are accounted for using the asset and liability method pursuant to the authoritative guidance on Accounting for Income Taxes. Deferred taxes are recognized for the tax consequences of “temporary differences” by applying enacted statutory tax rates applicable to future years to differences between the financial statement and carrying amounts and the tax bases of existing assets and liabilities. The effect on deferred taxes for a change in tax rates is recognized in income in the period that includes the enactment date. The Company recognizes future tax benefits to the extent that realization of such benefits is more likely than not.

The Company continually reviews the realizability of its deferred tax assets, including an analysis of factors such as future taxable income, reversal of existing taxable temporary differences, and tax planning strategies. In assessing the need for the valuation allowance, the Company considers both positive and negative evidence related to the likelihood of realization of deferred tax assets. Future sources of taxable income are also considered in determining the amount of the recorded valuation allowance. The Company has continued to maintain a full valuation allowance for the year ended June 27, 2021.

At the end of tax year ended June 27, 2021, the Company had net operating loss carryforwards totaling $23.6 million that are available to reduce future taxable income and will begin to expire in 2032. Under the Tax Cuts and Jobs Act, approximately $1.78 million of the loss carryforwards are limited to 80% and do not expire.

As of June 27, 2021, tax years remained open to examination from June 24, 2012, by the federal and state tax authorities, for three or four years from the tax year in which net operating losses or tax credits are utilized. The Company was not subject to any open income tax examinations by any tax authority as of June 27, 2021.

There are no material uncertain tax positions. Management’s position is that all relevant requirements are met and necessary returns have been filed, and therefore the tax positions taken on the tax returns would be sustained upon examination.

Under ASC 740, we recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. From time to time, the Company may be assessed interest and penalties by taxing authorities. In those cases, the charges are recorded as income tax expense, as incurred, in the Consolidated Statements of Operations.

Revenue Recognition:

Revenue is measured based on consideration specified in contracts with customers and excludes incentives and amounts collected on behalf of third parties, primarily sales tax. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue.

The following describes principal activities, separated by major product or service, from which the Company generates its revenues:

Restaurant Sales

Revenue from restaurant sales is recognized when food and beverage products are sold in Company-owned restaurants. The Company reports revenue net of sales taxes collected from customers and remitted to governmental taxing authorities.

Franchise Revenues

Franchise revenues consist of 1) franchise royalties, 2) supplier and distributor incentive revenues, 3) franchise license fees, 4) area development exclusivity fees and foreign master license fees, 5) advertising funds, and 6) supplier convention funds.

Franchise royalties, which are based on a percentage of franchise restaurant sales, are recognized as sales occur.

Supplier and distributor incentive revenues are recognized when title to the underlying commodities transfer.

Franchise license fees are typically billed upon execution of the franchise agreement and amortized over the term of the franchise agreement which can range from five to 20 years. Fees received for renewal periods are amortized over the life of the renewal period.

Area development exclusivity fees and foreign master license fees are typically billed upon execution of the area development and foreign master license agreements. Area development exclusivity fees are included in deferred revenue in the Accompanying Consolidated Balance Sheets and allocated on a pro rata basis to all stores opened under that specific development agreement. Area development exclusivity fees that include rights to sub-franchise are amortized as revenue over the term of the contract.

Advertising fund contributions for Pie Five units represent contributions collected where we have control over the activities of the fund. Contributions are based on a percentage of net retail sales. We have determined that we are the principal in these arrangements, and advertising fund contributions and expenditures are, therefore, reported on a gross basis in the Consolidated Statements of Income. In general, we expect such advertising fund contributions and expenditures to be largely offsetting and, therefore, do not expect a significant impact on our reported income before income taxes. Our obligation related to these funds is to develop and conduct advertising activities. Pie Five marketing fund contributions are billed and collected weekly.

Supplier convention funds are deferred until the obligations of the agreement are met and the event takes place.

Rental income is income from our subleasing of some of our restaurant space to third parties.

Total revenues consist of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021		June 28, 2020

Restaurant sales	$	—	$	240
Franchise royalties		3,689		3,697
Supplier and distributor incentive revenues		3,482		3,906
Franchise license fees		308		853
Area development exclusivity fees and foreign master license fees		21		20
Advertising funds contributions		705		799
Supplier convention funds		177		278
Rental income		200		195
Other		11		40
	$	8,593	$	10,028

Stock-Based Compensation:

The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on share-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future. The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow.

Restricted stock units (“RSUs”) represent the right to receive shares of common stock upon the satisfaction of vesting requirements, performance criteria and other terms and conditions. Compensation cost for RSUs is measured as an amount equal to the fair value of the RSUs on the date of grant and is expensed over the vesting period if achievement of the performance criteria is deemed probable, with the amount of the expense recognized based on the best estimate of the ultimate achievement level.

Fair Value of Financial Instruments:

The carrying amounts of accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments.

Contingencies:

Provisions for legal settlements are accrued when payment is considered probable and the amount of loss is reasonably estimable in accordance with the authoritative guidance on Accounting for Contingencies. If the best estimate of cost can only be identified within a range and no specific amount within that range can be determined more likely than any other amount within the range, and the loss is considered probable, the minimum of the range is accrued. Legal and related professional services costs to defend litigation are expensed as incurred.

Use of Management Estimates:

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities. The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed periodically. Actual results could differ materially from estimates.

Fiscal Year:

The Company’s fiscal year ends on the last Sunday in June. The fiscal year ended June 27, 2021 contained 52 weeks and the fiscal year ended June 28, 2020 contained 52 weeks.

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

12 Months Ended

Jun. 27, 2021

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS [Abstract]

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

NOTE B – PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS:

Property, and plant and equipment consist of the following (in thousands):

	Estimated Useful Lives	June 27 2021			June 28, 2020

Equipment, furniture and fixtures	3 - 7 yrs	$	1,021		$	808
Software	5 yrs		792			809
Leasehold improvements	10 yrs or lease term, if shorter		472			472
			2,285			2,089
Less: accumulated depreciation/amortization			(1,840	)		(1,723	)
		$	445		$	366

Depreciation and amortization expense was approximately $131 thousand and $145 thousand for the fiscal years ended June 27, 2021 and June 28, 2020, respectively.

Intangible assets consist of the following (in thousands):

		June 27, 2021							June 28, 2020
	Estimated Useful Lives	Acquisition Cost		Accumulated Amortization			Net Value		Acquisition Cost		Accumulated Amortization			Net Value

Trademarks and tradenames	10 years	$	278	$	(209	)	$	69	$	278	$	(181	)	$	97
Name change	15 years		70		(30	)		40		70		(25	)		45
Prototypes	5 years		74		–			74		230		(217	)		13
		$	422	$	(239	)	$	183	$	578	$	(423	)	$	155

Amortization expense for intangible assets was approximately $36 thousand and $41 thousand for the fiscal years ended June 27, 2021 and June 28, 2020, respectively.

ACCRUED EXPENSES

12 Months Ended

Jun. 27, 2021

ACCRUED EXPENSES [Abstract]

ACCRUED EXPENSES

NOTE C - ACCRUED EXPENSES:

Accrued expenses consist of the following (in thousands):

	June 27, 2021		June 28, 2020
Compensation	$	764	$	451
Other		130		236
Professional fees		30		80
Insurance loss reserves		–		8
	$	924	$	775

CONVERTIBLE NOTES	12 Months Ended
CONVERTIBLE NOTES	Jun. 27, 2021
CONVERTIBLE NOTES [Abstract]
CONVERTIBLE NOTES	NOTE D - CONVERTIBLE NOTES: On March 3, 2017, the Company completed a registered shareholder rights offering of its 4% Convertible Senior Notes due 2022 (“Notes”). Shareholders exercised subscription rights to purchase all 30,000 of the Notes at the par value of $100 per Note, resulting in gross offering proceeds to the Company of $3.0 million. The Notes bear interest at the rate of 4% per annum on the principal or par value of $100 per note, payable annually in arrears on February 15 of each year, commencing February 15, 2018. Interest is payable in cash or, at the Company’s discretion, in shares of Company common stock. The Notes mature on February 15, 2022, at which time all principal and unpaid interest will be payable in cash or, at the Company’s discretion, in shares of Company common stock. The Notes are secured by a pledge of all outstanding equity securities of our two primary direct operating subsidiaries. Noteholders may convert their Notes to common stock as of the 15^th day of any calendar month, unless the Company sooner elects to redeem the Notes. The conversion price is $2.00 per share of common stock. Accrued interest will be paid through the effective date of the conversion in cash or, at the Company’s sole discretion, in shares of Company common stock. During fiscal 2021, none of the Notes were converted to common shares. As of June 27, 2021, $1.6 million of the Notes were outstanding, offset by $28 thousand of unamortized debt issue costs and unamortized debt discounts.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

PPP LOAN	12 Months Ended
PPP LOAN	Jun. 27, 2021
PPP LOAN [Abstract]
PPP LOAN	NOTE E - PPP LOAN: On April 13, 2020, the Company received the proceeds from a loan in the amount of $0.7 million (the “PPP Loan”) from JPMorgan Chase Bank, N.A. (the “Lender”) pursuant to the Paycheck Protection Program (the “PPP”) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) administered by the U.S. Small Business Administration (“SBA”). The PPP Loan was unsecured by the Company and was guaranteed by the SBA. We applied for and received a forgiveness decision in the fourth quarter of fiscal 2021, such that all of the PPP Loan was forgiven at that time. (See, “Consolidated Statement of Operations.”)

INCOME TAXES

12 Months Ended

Jun. 27, 2021

INCOME TAXES [Abstract]

INCOME TAXES

NOTE F - INCOME TAXES:

Provision for income taxes from continuing operations consists of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
Current - Federal	$	—		$	—
Current - State		(29	)		18
Deferred - Federal		—			4,053
Deferred - State		—			7
Provision for income taxes	$	(29	)	$	4,078

The effective income tax rate varied from the statutory rate for the fiscal years ended June 27, 2021 and June 28, 2020 as reflected below (in thousands):

	June 27, 2021			June 28, 2020
Federal income taxes based on a statutory rate of 21%	$	313		$	(33	)
State income tax, net of federal effect		(23	)		20
Permanent adjustments		5			4
PPP loan forgiveness		(138	)		—
Change in valuation allowance		(190	)		4,081
Other		4			6
	$	(29	)	$	4,078

The tax effects of temporary differences that give rise to the net deferred tax assets consisted of the following (in thousands):

	June 27, 2021			June 28, 2020
Reserve for bad debt	$	10		$	61
Deferred fees		34			—
Other reserves and accruals		542			568
Operating lease liabilities		525			937
Credit carryforwards		197			171
Net operating loss carryforwards		5,563			5,371
Depreciable assets		—			306
Total gross deferred tax asset		6,871			7,414
Valuation allowance		(6,307	)		(6,515	)
Total deferred tax asset	$	564		$	899

Right-of-use asset		(461	)		(815	)
Other deferred tax liabilities		(103	)		(84	)
Total deferred tax liabilities	$	(564	)	$	(899	)

Net deferred tax asset	$	—		$	—

For the year ended June 27, 2021, the Company recorded an income tax benefit of $29 thousand including federal deferred tax expense of zero and current state tax benefit of $29 thousand. At the end of tax year ended June 27, 2021, the Company had net operating loss carryforwards totaling $23.6 million that are available to reduce future taxable income and will begin to expire in 2032. Under the Tax Cuts and Jobs Act, approximately $1.78 million of the loss carryforwards are limited to 80% and do not expire.

On March 27, 2020, President Trump signed into law the CARES Act. The legislation enacts various measures to assist companies affected by the COVID-19 pandemic. Key income tax-related provisions of the bill include temporary modifications to net operating loss utilization and carryback limitations, allowance of refundable alternative minimum tax credits, reduced limitation of charitable contributions, reduced limitations of business interest expense, and technical corrections to depreciation of qualified improvement property.

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, an omnibus spending bill that includes an array of COVID-related tax relief for individuals and businesses. The tax-related measures contained in the Act revise and expand provisions enacted earlier in the year by the Families First Coronavirus Response Act and the CARES Act. The Act also extends a number of expiring tax provisions. Additionally, the Act provides for a 100% deduction for certain business meals incurred in calendar years 2021 and 2022, which are currently deductible at 50% for years ending December 31, 2020. The Company determined that income tax effects related to the passage of the Consolidated Appropriations Act were not material to the financial statements for the year ended June 27, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

LEASES

12 Months Ended

Jun. 27, 2021

LEASES [Abstract]

LEASES

NOTE G - LEASES:

The Company leases its 19,576 square foot corporate office facility with average annual lease payments of approximately $18.00 per square foot. This lease began on January 2, 2017 and has a ten-year term. The Company amended its lease agreement in June 2020 and deferred one-half of the monthly base rent for the period from June 2020 through May 2021.

The Company determines if an arrangement is a lease at inception of the arrangement. To the extent that it can be determined that an arrangement represents a lease, it is classified as either an operating lease or a finance lease. The Company does not currently have any finance leases. The Company capitalizes operating leases on the Consolidated Balance Sheets through a right of use asset and a corresponding lease liability. Right of use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Short-term leases that have an initial term of one year or less are not capitalized but are disclosed below. Short-term lease costs exclude expenses related to leases with a lease term of one month or less.

Operating lease right of use assets and liabilities are recognized at the commencement date of an arrangement based on the present value of lease payments over the lease term. In addition to the present value of lease payments, the operating lease right of use asset also includes any lease payments made to the lessor prior to lease commencement less any lease incentives and initial direct costs incurred. Lease expense for operating lease payments is recognized on a straight-line basis over the lease term.

Nature of Leases

The Company leases certain office space, restaurant space, and information technology equipment under non-cancelable leases to support its operations. A more detailed description of significant lease types is included below.

Office Agreements

The Company rents office space from third parties for its corporate location. Office agreements are typically structured with non-cancelable terms of one to 10 years. The Company has concluded that its office agreements represent operating leases with a lease term that equals the primary non-cancelable contract term. Upon completion of the primary term, both parties have substantive rights to terminate the lease. As a result, enforceable rights and obligations do not exist under the rental agreements subsequent to the primary term.

Restaurant Space Agreements

The Company rents restaurant space from third parties for its Company-owned restaurants. Restaurant space agreements are typically structured with non-cancelable terms of one to 10 years. The Company has concluded that its restaurant agreements represent operating leases with a lease term that equals the primary non-cancelable contract term. Upon completion of the primary term, both parties have substantive rights to terminate the lease. As a result, enforceable rights and obligations do not exist under the rental agreements subsequent to the primary term.

The Company also subleases some of its restaurant space to third parties. The Company’s two subleases have terms that end in 2023 and 2025. The sublease agreements are noncancelable through the end of the term and both parties have substantive rights to terminate the lease when the term is complete. Sublease agreements are not capitalized and are recorded as rental income in the period that rent is received.

As of June 27, 2021, the Company had no Company-owned restaurants.

Information Technology Equipment

The Company rents information technology equipment, primarily printers and copiers, from a third party for its corporate office location. Information technology equipment agreements are typically structured with non-cancelable terms of one to five years. The Company has concluded that its information technology equipment commitments are operating leases.

Discount Rate

Leases typically do not provide an implicit interest rate. Accordingly, the Company is required to use its incremental borrowing rate in determining the present value of lease payments based on the information available at the lease commencement date. The Company’s incremental borrowing rate reflects the estimated rate of interest that it would pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment. The Company uses the implicit rate in the limited circumstances in which that rate is readily determinable.

Lease Guarantees

The Company has guaranteed the financial responsibilities of certain franchised store leases. These guaranteed leases are not considered operating leases because the Company does not have the right to control the underlying asset. If the franchisee abandons the lease and fails to meet the lease’s financial obligations, the lessor may assign the lease to the Company for the remainder of the term. If the Company does not expect to assign the abandoned lease to a new franchisee within 12 months, the lease will be considered an operating lease and a right-of-use asset and liability will be recognized.

Practical Expedients and Accounting Policy Elections

Certain lease agreements include lease and non-lease components. For all existing asset classes with multiple component types, the Company has utilized the practical expedient that exempts it from separating lease components from non-lease components. Accordingly, the Company accounts for the lease and non-lease components in an arrangement as a single lease component.

In addition, for all existing asset classes, the Company has made an accounting policy election not to apply the lease recognition requirements to short-term leases (that is, a lease that, at commencement, has a lease term of 12 months or less and does not include an option to purchase the underlying asset that the Company is reasonably certain to exercise). Accordingly, we recognize lease payments related to our short-term leases in our statement of operations on a straight-line basis over the lease term which has not changed from our prior recognition. To the extent that there are variable lease payments, we recognize those payments in our statement of operations in the period in which the obligation for those payments is incurred.

The components of total lease expense for the fiscal year ended June 27, 2021, the majority of which is included in general and administrative expense in the accompanying consolidated statement of operations, are as follows (in thousands):

	Fiscal Year Ended June 27, 2021
Operating lease cost	$	705
Sublease income		(200	)
Total lease expense, net of sublease income	$	505

Supplemental cash flow information related to operating leases is included in the table below (in thousands):

		Fiscal Year Ended June 27, 2021
Cash paid for amounts included in the measurement of lease liabilities		$	755

Supplemental balance sheet information related to operating leases is included in the table below (in thousands):

	Fiscal Year Ended June 27, 2021
Operating lease right of use assets, net	$	2,085
Operating lease liabilities, current		465
Operating lease liabilities, net of current portion		1,911

Weighted average remaining lease term and weighted average discount rate for operating leases are as follows:

	Fiscal Year Ended June 27, 2021
Weighted average remaining lease term	4.0 Years
Weighted average discount rate		4.0	%

Operating lease liabilities with enforceable contract terms that are greater than one year mature as follows (in thousands):

	Operating Leases
2022	$	551
2023		558
2024		511
2025		433
2026		382
Thereafter		191
Total operating lease payments	$	2,626
Less: imputed interest	$	(250	)
Total operating lease liability	$	2,376

Premises occupied by Company-owned restaurants were leased for initial terms of five to ten years, and each has multiple renewal terms. Certain lease agreements contain either a provision requiring additional rent if sales exceed specified amounts or an escalation clause based upon a predetermined multiple.

Future minimum rental payments under active non-cancelable leases with initial or remaining terms of one year or more at June 27, 2021 were as follows (in thousands):

	Operating Leases
2022	$	1,168
2023		1,056
2024		844
2025		685
2026		490
Thereafter		364
	$	4,607

Future minimum sublease rental income under active non-cancelable leases with initial or remaining terms of one year or more at June 27, 2021 were as follows (in thousands):

	Sublease Rental Income
2022	$	175
2023		177
2024		128
2025		53
	$	533

Rental expense consisted of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
Minimum rentals	$	705		$	676
Sublease rentals		(200	)		(168	)
	$	505		$	508

EMPLOYEE BENEFITS	12 Months Ended
EMPLOYEE BENEFITS	Jun. 27, 2021
EMPLOYEE BENEFITS [Abstract]
EMPLOYEE BENEFITS	NOTE H - EMPLOYEE BENEFITS: The Company has a tax advantaged savings plan that is designed to meet the requirements of Section 401(k) of the Internal Revenue Code (the “Code”). The current plan is a modified continuation of a similar savings plan established by the Company in 1985. Employees who have completed three months of service and are at least 21 years of age are eligible to participate in the plan. The plan provides that participating employees may elect to have between 1% and 15% of their compensation deferred and contributed to the plan subject to certain IRS limitations. Effective June 27, 2005, the Company has a discretionary matching contribution. Separate accounts are maintained with respect to contributions made on behalf of each participating employee. Employer matching contributions and earnings thereon are invested in the same investments as each participant’s employee deferral. The plan is subject to the provisions of the Employee Retirement Income Security Act, as amended, and is a profit-sharing plan as defined in Section 401(k) of the Code. For the fiscal year ended June 27, 2021, total matching contributions to the tax advantaged savings plan by the Company on behalf of participating employees were approximately $24 thousand. For the fiscal year ended June 28, 2020, no matching contributions were made to the tax advantaged savings plan by the Company.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

STOCK BASED COMPENSATION PLANS

12 Months Ended

Jun. 27, 2021

STOCK BASED COMPENSATION PLANS [Abstract]

STOCK BASED COMPENSATION PLANS

NOTE I - STOCK BASED COMPENSATION PLANS:

In June 2005, the 2005 Employee Incentive Stock Option Award Plan (the “2005 Employee Plan”) was approved by the Company’s shareholders with a plan effective date of June 23, 2005. Under the 2005 Employee Plan, officers and employees of the Company were eligible to receive options to purchase shares of the Company’s common stock. Options were granted at market value of the stock on the date of grant, were subject to various vesting and exercise periods as determined by the Compensation Committee of the board of directors and could be designated as non-qualified or incentive stock options. A total of 1,000,000 shares of common stock were authorized for issuance under the 2005 Employee Plan. The 2005 Employee Plan expired by its terms on June 23, 2015.

The shareholders also approved the 2005 Non-Employee Directors Stock Award Plan (the “2005 Directors Plan”) in June 2005, to be effective as of June 23, 2005. Directors not employed by the Company were eligible to receive stock options under the 2005 Directors Plan. Options for common stock equal to twice the number of shares of common stock acquired during the previous fiscal year, up to 40,000 shares per year, were automatically granted to each non-employee director on the first day of each fiscal year. Options were granted at market value of the stock on the first day of each fiscal year, with vesting periods beginning at a minimum of six months and with exercise periods up to ten years. A total of 650,000 shares of Company common stock were authorized for issuance pursuant to the 2005 Directors Plan. The 2005 Directors Plan expired by its terms on June 23, 2015.

The 2015 Long Term Incentive Plan (the “2015 LTIP”) was approved by the Company’s shareholders on November 18, 2014 and became effective June 1, 2015. Officers, employees and non-employee directors of the Company are eligible to receive awards under the 2015 LTIP. A total of 1,200,000 shares of common stock are authorized for issuance under the 2015 LTIP. Awards authorized under the 2015 LTIP include incentive stock options, non-qualified stock options, restricted shares, restricted stock units and rights (either with or without accompanying options). The 2015 LTIP provides for options to be granted at market value of the stock on the date of grant and have exercise periods determined by the Compensation Committee of the board of directors. The Compensation Committee may also determine the vesting periods, performance criteria and other terms and conditions of all awards under the 2015 LTIP. The Compensation Committee has adopted resolutions under the 2015 LTIP automatically granting to each non-employee director on the first day of each fiscal year options to purchase twice the number of shares of common stock acquired during the previous fiscal year, up to a maximum of 40,000 shares. Such options are exercisable at the market value of the stock on the first day of the fiscal year, vest six months from the date of grant and expire 10 years from the date of grant.

Share based compensation expense is included in general and administrative expense in the accompanying consolidated statement of operations.

Stock Options:

A summary of stock option transactions under all of the Company’s stock option plans and information about fixed-price stock options is as follows:

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
	Shares			Shares
Outstanding at beginning of year		206,750			216,550

Granted		–			–
Exercised		–			–
Forfeited/Canceled/Expired		(40,000	)		(9,800	)

Outstanding at end of period		166,750			206,750

Exercisable at end of period		166,750			206,750

	Fiscal Year Ended
	June 27, 2021		June 28, 2020
	Weighted- Average Exercise Price		Weighted- Average Exercise Price
Outstanding at beginning of year	$	4.96	$	4.82

Granted		–		–
Exercised		–		–
Forfeited/Canceled/Expired		2.71		1.87

Outstanding at end of period	$	5.49	$	4.96

Exercisable at end of year	$	5.49	$	4.96

The intrinsic value of options outstanding at June 27, 2021 was zero.

The following table provides information on options outstanding and options exercisable as of June 27, 2021:

		Options Outstanding						Options Exercisable
Range of Exercise Prices		Options Outstanding at June 27,2021		Weighted-Average Remaining Contractual Life (Years)		Weighted- Average Exercise Price		Shares Exercisable at June 27, 2021		Weighted- Average Exercise Price

$	2.76 - 3.30		55,000		1.0	$	3.11		55,000	$	3.11
$	3.31 - 3.95		50,000		5.0	$	3.95		50,000	$	3.95
$	5.51 - 5.74		8,664		2.0	$	5.74		8,664	$	5.74
$	5.95 - 6.25		28,800		3.0	$	6.23		28,800	$	6.23
$	6.26 - 13.11		24,286		4.0	$	13.11		24,286	$	13.11
			166,750		3.0	$	5.49		166,750	$	5.49

We determine fair value following the authoritative guidance as follows:

Valuation and Amortization Method. We estimate the fair value of share-based awards granted using the Black-Scholes option valuation model. We amortize the fair value of all awards on a straight-line basis over the requisite service periods, which are generally the vesting periods.

Expected Life. The expected life of awards granted represents the period of time that they are expected to be outstanding. Unless a life is specifically stated, we determine the expected life using the “simplified method” in accordance with Staff Accounting Bulletin No. 110 since we do not have sufficient historical share option exercise experience.

Expected Volatility. Using the Black-Scholes option valuation model, we estimate the volatility of our common stock at the date of grant based on the historical volatility of our common stock.

Risk-Free Interest Rate. We base the risk-free interest rate used in the Black-Scholes option valuation model on the implied yield currently available on U.S. Treasury zero-coupon issues with an equivalent remaining term equal to the expected life of the award.

Expected Dividend Yield. We have not paid any cash dividends on our common stock in the last ten years and we do not anticipate paying any cash dividends in the foreseeable future. Consequently, we use an expected dividend yield of zero in the Black-Scholes option valuation model.

Expected Forfeitures. We use historical data to estimate pre-vesting option forfeitures. We record stock-based compensation only for those awards that are expected to vest.

At June 27, 2021, all stock options that the Company had granted were vested. No stock compensation expense related to stock options was recognized in either fiscal years 2021 or 2020.

Restricted Stock Units:

Restricted stock units awarded under the 2015 LTIP represent the right to receive shares of common stock upon the satisfaction of vesting requirements, performance criteria and other terms and conditions. During fiscal 2020, there were no grants of performance-based restricted stock units. During fiscal 2021, an aggregate of 545,600 performance-based restricted stock units were granted to certain employees.

The restricted stock units granted to each recipient are allocated among performance criteria pertaining to various aspects of the Company’s business, as well as its overall operations, measured based on the second fiscal year following the date of grant. Achievement of the various performance criteria entitles the recipient to receive shares of common stock in amounts ranging from 50% to 150% of the number of restricted stock units granted. Grantees of restricted stock units do not have any rights of a stockholder, and do not participate in any distributions on our common stock, until the award fully vests upon satisfaction of the vesting schedule, performance criteria and other conditions set forth in their award agreement. Therefore, unvested restricted stock units are not considered participating securities under ASC 260, “Earnings Per Share,” and are not included in the calculation of basic or diluted earnings per share.

Compensation cost is measured as an amount equal to the fair value of the restricted stock units on the date of grant and is expensed over the vesting period if achievement of the performance criteria is deemed probable, with the amount of the expense recognized based on the best estimate of the ultimate achievement level.

A summary of the status of restricted stock units as of June 27, 2021 and June 28, 2020, and changes during the fiscal years then ended is presented below:

	June 27, 2021		June 28, 2020
Unvested at beginning of year		—		155,106
Granted during the year		545,600		—
Vested during the year		—		(9,053	)
Forfeited during the year		—		(146,053	)
Unvested at end of year		545,600		—

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Jun. 27, 2021
SHAREHOLDERS' EQUITY [Abstract]
SHAREHOLDERS' EQUITY	NOTE J - SHAREHOLDERS’ EQUITY: On April 22, 2009, the board of directors of the Company amended the stock repurchase plan first authorized on May 23, 2007, and previously amended on June 2, 2008, by increasing the aggregate number of shares of common stock the Company may repurchase under the plan to a total of 3,016,000 shares. No shares were repurchased during fiscal 2021 and, as of June 27, 2021, there were 848,425 shares available to be repurchased under the plan. On December 5, 2017, the Company entered into an At Market Issuance Sales Agreement with B. Riley FBR, Inc. (“B. Riley FBR”) pursuant to which the Company may offer and sell shares of its common stock having an aggregate offering price of up to $5,000,000 from time to time through B. Riley FBR acting as agent (the “2017 ATM Offering”). The 2017 ATM Offering is being undertaken pursuant to Rule 415 and a shelf Registration Statement on Form S-3 which was declared effective by the SEC on November 6, 2017. Through June 27, 2021, the Company had sold an aggregate of 3,064,342 shares in the 2017 ATM Offering, realizing aggregate gross proceeds of $4.4 million. The 2017 ATM Offering expired on November 6, 2020. The Company pays to B. Riley FBR a fee equal to 3% of the gross sales price in addition to reimbursing certain costs. The Company had $131 thousand in expenses associated with the 2017 ATM Offering in fiscal 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 27, 2021
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE K - COMMITMENTS AND CONTINGENCIES: The Company is subject to various claims and contingencies related to employment agreements, franchise disputes, lawsuits, taxes, food product purchase contracts and other matters arising out of the normal course of business. Management believes that any such claims and actions currently pending are either covered by insurance or would not have a material adverse effect on the Company’s annual results of operations or financial condition if decided in a manner that is unfavorable to the Company. On March 11, 2020, the World Health Organization declared the outbreak of novel coronavirus (COVID-19) as a pandemic, and the disease has spread rapidly throughout the United States and the world. Federal, state and local responses to the COVID-19 pandemic, as well as our internal efforts to protect customers, franchisees and employees, have severely disrupted our business operations. Most of the domestic Pizza Inn buffet restaurants and Pie Five restaurants are in areas that were for varying periods subject to “shelter-in-place” and social distancing restrictions prohibiting in-store sales and, therefore, were limited to carry-out and/or delivery orders. In some areas, these restrictions limited non-essential movement outside the home, which discouraged or even precluded carry-out orders. In most cases, in-store dining has now resumed subject to seating capacity limitations, social distancing protocols, and enhanced cleaning and disinfecting practices. Further, the COVID-19 pandemic has precipitated significant job losses and a national economic downturn that typically impacts the demand for restaurant food service. Although most of our domestic restaurants have continued to operate under these conditions, we have experienced temporary closures from time to time during the pandemic. The COVID-19 pandemic has resulted in dramatically reduced aggregate in-store retail sales at Buffet Units and Pie Five Units, modestly offset by increased aggregate carry-out and delivery sales. The decreased aggregate retail sales have correspondingly decreased supplier rebates and franchise royalties payable to the Company. During the fourth quarter of fiscal 2020, we participated in a government-sponsored loan program. (See, “Note E--PPP Loan.”) We also temporarily furloughed certain employees and reduced base salary by 20% for all remaining employees for the fourth quarter of fiscal 2020, as well as reducing other expenses. While the Company will remain focused on controlling expenses, future results of operations are likely to be materially adversely impacted by the pandemic and its aftermath. We expect that Buffet Units and Pie Five Units will continue to be subject to capacity restrictions for some time as social distancing protocols remain in place. Additionally, an outbreak or perceived outbreak of COVID-19 connected to restaurant dining could cause negative publicity directed at any of our brands and cause customers to avoid our restaurants. We cannot predict how long the pandemic will last or whether it will reoccur, what additional restrictions may be enacted, to what extent off-premises dining will continue, or if individuals will be comfortable returning to our Buffet Units and Pie Five Units following social distancing protocols. Any of these changes could materially adversely affect the Company’s future financial performance. However, the ultimate impact of COVID-19 on our future results of operations and liquidity cannot presently be predicted.

EARNINGS PER SHARE

12 Months Ended

Jun. 27, 2021

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE L - EARNINGS PER SHARE:

The Company computes and presents earnings per share (“EPS”) in accordance with the authoritative guidance on Earnings Per Share. Basic EPS excludes the effect of potentially dilutive securities while diluted EPS reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised, converted or resulted in the issuance of common stock that then shared in the earnings of the Company.

The following table shows the reconciliation of the numerator and denominator of the basic EPS calculation to the numerator and denominator of the diluted EPS calculation (in thousands, except per share amounts).

	Fiscal Year Ended
	June 27, 2021		June 28, 2020
Income/(loss) from continuing operations	$	1,520	$	(4,233	)
Interest saved on convertible notes at 4%	$	64	$	65
Adjusted net income/(loss)	$	1,584	$	(4,168	)

BASIC:
Weighted average common shares		17,307		15,144

Net income/(loss) per common share	$	0.09	$	(0.28	)

DILUTED:
Weighted average common shares		17,307		15,144
Convertible notes		798		—
Dilutive stock options		—		—
Weighted average common shares outstanding		18,105		15,144

Income/(loss) from continuing operations per common share	$	0.09	$	(0.28	)

We had 166,750 and 206,750 shares of common stock potentially issuable upon exercise of employee stock options for years ended June 27, 2021 and June 28, 2020, respectively. The 166,750 and 206,750 shares of common stock were excluded from the weighted average number of shares outstanding on a diluted basis because they had an intrinsic value of zero and were anti-dilutive, respectively. These options expire at varying times from fiscal 2021 through fiscal 2026.

SEGMENT REPORTING

12 Months Ended

Jun. 27, 2021

SEGMENT REPORTING [Abstract]

SEGMENT REPORTING

NOTE M– SEGMENT REPORTING:

The Company has three reportable operating segments as determined by management using the “management approach” as defined by the authoritative guidance on Disclosures about Segments of an Enterprise and Related Information: (1) Pizza Inn Franchising, (2) Pie Five Franchising and (3) Company-Owned Restaurants. These segments are a result of differences in the nature of the products and services sold. Corporate administration costs, which include, but are not limited to, general accounting, human resources, legal and credit and collections, are partially allocated to the three operating segments. Other revenue consists of nonrecurring items.

The Pizza Inn and Pie Five Franchising segments establish franchisees, licensees and territorial rights. Revenue for this segment is derived from franchise royalties, franchise fees, sale of area development and foreign master license rights and incentive payments from third party suppliers and distributors. Assets for these segments include equipment, furniture and fixtures.

The Company-Owned Restaurants segment includes sales and operating results for all Company-owned restaurants. Assets for this segment include equipment, furniture and fixtures for the Company-owned restaurants.

Corporate administration and other assets primarily include cash and short-term investments, as well as furniture and fixtures located at the corporate office and trademarks and other intangible assets. All assets are located within the United States.

Summarized in the following tables are net sales and operating revenues, depreciation and amortization expense, income from continuing operations before taxes, capital expenditures and assets for the Company’s reportable segments as of and for the fiscal years ended June 27, 2021 and June 28, 2020 (in thousands):

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
Net sales and operating revenues:
Pizza Inn Franchising	$	6,582		$	6,662
Pie Five Franchising		1,816			2,894
Company-Owned Restaurants		–			240
Corporate administration and other		195			232
Consolidated revenues	$	8,593		$	10,028

Depreciation and amortization:
Pizza Inn Franchising	$	–		$	–
Pie Five Franchising		–			–
Company-Owned Restaurants		–			–
Combined		–			–
Corporate administration and other		167			186
Depreciation and amortization	$	167		$	186

Income/(Loss) before taxes:
Pizza Inn Franchising	$	5,205		$	5,365
Pie Five Franchising		799			1,140
Company-Owned Restaurants		(292	)		(1,006	)
Combined		5,712			5,499
Corporate administration and other		(4,221	)		(5,654	)
Income/(loss) before taxes	$	1,491		$	(155	)

The following table provides information on our foreign and domestic revenues:

Geographic information (revenues):
United States	$	8,373	$	9,847
Foreign countries		220		181
Consolidated total	$	8,593	$	10,028

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Jun. 27, 2021
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE N - SUBSEQUENT EVENTS: In preparation of its financial statements, the Company considered subsequent events through September 21, 2021 which was the date the Company’s financial statements were available to be issued.

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Jun. 27, 2021

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Description of Business

Description of Business:

Principles of Consolidation

Principles of Consolidation:

Cash and Cash Equivalents

Cash and Cash Equivalents:

Concentration of Credit Risk

Concentration of Credit Risk:

Inventories

Inventories:

Inventory consists primarily of food, paper products and supplies stored in and used by Company restaurants and is stated at lower of first-in, first-out (“FIFO”) or market.

Closed Restaurants and Discontinued Operations

Closed Restaurants and Discontinued Operations:

Property, Plant and Equipment

Property, Plant and Equipment:

Impairment of Long-Lived Asset and other Lease Charges

Impairment of Long-Lived Asset and other Lease Charges:

Accounts Receivable

Accounts Receivable:

Notes Receivable

Notes Receivable:

The expected principal collections on notes receivable for the next three years were as follows as of June 27, 2021 (in thousands):

	Notes Receivable
2022	$	901
2023		52
2024		–
	$	953

Income Taxes

Income Taxes:

Revenue Recognition

Revenue Recognition:

The following describes principal activities, separated by major product or service, from which the Company generates its revenues:

Restaurant Sales

Franchise Revenues

Franchise royalties, which are based on a percentage of franchise restaurant sales, are recognized as sales occur.

Supplier and distributor incentive revenues are recognized when title to the underlying commodities transfer.

Supplier convention funds are deferred until the obligations of the agreement are met and the event takes place.

Rental income is income from our subleasing of some of our restaurant space to third parties.

Total revenues consist of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021		June 28, 2020

Restaurant sales	$	—	$	240
Franchise royalties		3,689		3,697
Supplier and distributor incentive revenues		3,482		3,906
Franchise license fees		308		853
Area development exclusivity fees and foreign master license fees		21		20
Advertising funds contributions		705		799
Supplier convention funds		177		278
Rental income		200		195
Other		11		40
	$	8,593	$	10,028

Stock-Based Compensation

Stock-Based Compensation:

Fair Value of Financial Instruments

Fair Value of Financial Instruments:

The carrying amounts of accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments.

Contingencies

Contingencies:

Use of Management Estimates

Use of Management Estimates:

Fiscal Year

Fiscal Year:

The Company’s fiscal year ends on the last Sunday in June. The fiscal year ended June 27, 2021 contained 52 weeks and the fiscal year ended June 28, 2020 contained 52 weeks.

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 27, 2021

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Notes Receivable

The expected principal collections on notes receivable for the next three years were as follows as of June 27, 2021 (in thousands):

	Notes Receivable
2022	$	901
2023		52
2024		–
	$	953

Total Revenues

Total revenues consist of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021		June 28, 2020

Restaurant sales	$	—	$	240
Franchise royalties		3,689		3,697
Supplier and distributor incentive revenues		3,482		3,906
Franchise license fees		308		853
Area development exclusivity fees and foreign master license fees		21		20
Advertising funds contributions		705		799
Supplier convention funds		177		278
Rental income		200		195
Other		11		40
	$	8,593	$	10,028

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Jun. 27, 2021

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS [Abstract]

Property, and Plant and Equipment

Property, and plant and equipment consist of the following (in thousands):

	Estimated Useful Lives	June 27 2021			June 28, 2020

Equipment, furniture and fixtures	3 - 7 yrs	$	1,021		$	808
Software	5 yrs		792			809
Leasehold improvements	10 yrs or lease term, if shorter		472			472
			2,285			2,089
Less: accumulated depreciation/amortization			(1,840	)		(1,723	)
		$	445		$	366

Intangible Assets

Intangible assets consist of the following (in thousands):

		June 27, 2021							June 28, 2020
	Estimated Useful Lives	Acquisition Cost		Accumulated Amortization			Net Value		Acquisition Cost		Accumulated Amortization			Net Value

Trademarks and tradenames	10 years	$	278	$	(209	)	$	69	$	278	$	(181	)	$	97
Name change	15 years		70		(30	)		40		70		(25	)		45
Prototypes	5 years		74		–			74		230		(217	)		13
		$	422	$	(239	)	$	183	$	578	$	(423	)	$	155

ACCRUED EXPENSES (Tables)

12 Months Ended

Jun. 27, 2021

ACCRUED EXPENSES [Abstract]

Accrued Expenses

Accrued expenses consist of the following (in thousands):

	June 27, 2021		June 28, 2020
Compensation	$	764	$	451
Other		130		236
Professional fees		30		80
Insurance loss reserves		–		8
	$	924	$	775

INCOME TAXES (Tables)

12 Months Ended

Jun. 27, 2021

INCOME TAXES [Abstract]

Provision for Income Taxes

Provision for income taxes from continuing operations consists of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
Current - Federal	$	—		$	—
Current - State		(29	)		18
Deferred - Federal		—			4,053
Deferred - State		—			7
Provision for income taxes	$	(29	)	$	4,078

Effective Income Tax Rate Reconciliation

The effective income tax rate varied from the statutory rate for the fiscal years ended June 27, 2021 and June 28, 2020 as reflected below (in thousands):

	June 27, 2021			June 28, 2020
Federal income taxes based on a statutory rate of 21%	$	313		$	(33	)
State income tax, net of federal effect		(23	)		20
Permanent adjustments		5			4
PPP loan forgiveness		(138	)		—
Change in valuation allowance		(190	)		4,081
Other		4			6
	$	(29	)	$	4,078

Deferred Tax Assets

The tax effects of temporary differences that give rise to the net deferred tax assets consisted of the following (in thousands):

	June 27, 2021			June 28, 2020
Reserve for bad debt	$	10		$	61
Deferred fees		34			—
Other reserves and accruals		542			568
Operating lease liabilities		525			937
Credit carryforwards		197			171
Net operating loss carryforwards		5,563			5,371
Depreciable assets		—			306
Total gross deferred tax asset		6,871			7,414
Valuation allowance		(6,307	)		(6,515	)
Total deferred tax asset	$	564		$	899

Right-of-use asset		(461	)		(815	)
Other deferred tax liabilities		(103	)		(84	)
Total deferred tax liabilities	$	(564	)	$	(899	)

Net deferred tax asset	$	—		$	—

LEASES (Tables)

12 Months Ended

Jun. 27, 2021

LEASES [Abstract]

Components of Total Lease Expense

	Fiscal Year Ended June 27, 2021
Operating lease cost	$	705
Sublease income		(200	)
Total lease expense, net of sublease income	$	505

Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases is included in the table below (in thousands):

		Fiscal Year Ended June 27, 2021
Cash paid for amounts included in the measurement of lease liabilities		$	755

Supplemental Balance Sheet Information Related to Operating Leases

Supplemental balance sheet information related to operating leases is included in the table below (in thousands):

	Fiscal Year Ended June 27, 2021
Operating lease right of use assets, net	$	2,085
Operating lease liabilities, current		465
Operating lease liabilities, net of current portion		1,911

Weighted Average Remaining Lease Term and Weighted Average Discount Rate

Weighted average remaining lease term and weighted average discount rate for operating leases are as follows:

	Fiscal Year Ended June 27, 2021
Weighted average remaining lease term	4.0 Years
Weighted average discount rate		4.0	%

Maturities of Operating Lease Liabilities

Operating lease liabilities with enforceable contract terms that are greater than one year mature as follows (in thousands):

	Operating Leases
2022	$	551
2023		558
2024		511
2025		433
2026		382
Thereafter		191
Total operating lease payments	$	2,626
Less: imputed interest	$	(250	)
Total operating lease liability	$	2,376

Future Minimum Rental Payments For Operating Leases

Future minimum rental payments under active non-cancelable leases with initial or remaining terms of one year or more at June 27, 2021 were as follows (in thousands):

	Operating Leases
2022	$	1,168
2023		1,056
2024		844
2025		685
2026		490
Thereafter		364
	$	4,607

Future Minimum Sublease Rental Income

Future minimum sublease rental income under active non-cancelable leases with initial or remaining terms of one year or more at June 27, 2021 were as follows (in thousands):

	Sublease Rental Income
2022	$	175
2023		177
2024		128
2025		53
	$	533

Components of Rental Expense

Rental expense consisted of the following (in thousands):

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
Minimum rentals	$	705		$	676
Sublease rentals		(200	)		(168	)
	$	505		$	508

STOCK BASED COMPENSATION PLANS (Tables)

12 Months Ended

Jun. 27, 2021

STOCK BASED COMPENSATION PLANS [Abstract]

Summary of Stock Options

A summary of stock option transactions under all of the Company’s stock option plans and information about fixed-price stock options is as follows:

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
	Shares			Shares
Outstanding at beginning of year		206,750			216,550

Granted		–			–
Exercised		–			–
Forfeited/Canceled/Expired		(40,000	)		(9,800	)

Outstanding at end of period		166,750			206,750

Exercisable at end of period		166,750			206,750

	Fiscal Year Ended
	June 27, 2021		June 28, 2020
	Weighted- Average Exercise Price		Weighted- Average Exercise Price
Outstanding at beginning of year	$	4.96	$	4.82

Granted		–		–
Exercised		–		–
Forfeited/Canceled/Expired		2.71		1.87

Outstanding at end of period	$	5.49	$	4.96

Exercisable at end of year	$	5.49	$	4.96

Information on Options Outstanding and Options Exercisable

The following table provides information on options outstanding and options exercisable as of June 27, 2021:

		Options Outstanding						Options Exercisable
Range of Exercise Prices		Options Outstanding at June 27,2021		Weighted-Average Remaining Contractual Life (Years)		Weighted- Average Exercise Price		Shares Exercisable at June 27, 2021		Weighted- Average Exercise Price

$	2.76 - 3.30		55,000		1.0	$	3.11		55,000	$	3.11
$	3.31 - 3.95		50,000		5.0	$	3.95		50,000	$	3.95
$	5.51 - 5.74		8,664		2.0	$	5.74		8,664	$	5.74
$	5.95 - 6.25		28,800		3.0	$	6.23		28,800	$	6.23
$	6.26 - 13.11		24,286		4.0	$	13.11		24,286	$	13.11
			166,750		3.0	$	5.49		166,750	$	5.49

Summary of Restricted Stock Units

A summary of the status of restricted stock units as of June 27, 2021 and June 28, 2020, and changes during the fiscal years then ended is presented below:

	June 27, 2021		June 28, 2020
Unvested at beginning of year		—		155,106
Granted during the year		545,600		—
Vested during the year		—		(9,053	)
Forfeited during the year		—		(146,053	)
Unvested at end of year		545,600		—

EARNINGS PER SHARE (Tables)

12 Months Ended

Jun. 27, 2021

EARNINGS PER SHARE [Abstract]

Earnings per Share Basic and Diluted

	Fiscal Year Ended
	June 27, 2021		June 28, 2020
Income/(loss) from continuing operations	$	1,520	$	(4,233	)
Interest saved on convertible notes at 4%	$	64	$	65
Adjusted net income/(loss)	$	1,584	$	(4,168	)

BASIC:
Weighted average common shares		17,307		15,144

Net income/(loss) per common share	$	0.09	$	(0.28	)

DILUTED:
Weighted average common shares		17,307		15,144
Convertible notes		798		—
Dilutive stock options		—		—
Weighted average common shares outstanding		18,105		15,144

Income/(loss) from continuing operations per common share	$	0.09	$	(0.28	)

SEGMENT REPORTING (Tables)

12 Months Ended

Jun. 27, 2021

SEGMENT REPORTING [Abstract]

Segment Reporting Information

	Fiscal Year Ended
	June 27, 2021			June 28, 2020
Net sales and operating revenues:
Pizza Inn Franchising	$	6,582		$	6,662
Pie Five Franchising		1,816			2,894
Company-Owned Restaurants		–			240
Corporate administration and other		195			232
Consolidated revenues	$	8,593		$	10,028

Depreciation and amortization:
Pizza Inn Franchising	$	–		$	–
Pie Five Franchising		–			–
Company-Owned Restaurants		–			–
Combined		–			–
Corporate administration and other		167			186
Depreciation and amortization	$	167		$	186

Income/(Loss) before taxes:
Pizza Inn Franchising	$	5,205		$	5,365
Pie Five Franchising		799			1,140
Company-Owned Restaurants		(292	)		(1,006	)
Combined		5,712			5,499
Corporate administration and other		(4,221	)		(5,654	)
Income/(loss) before taxes	$	1,491		$	(155	)

Revenue by Geographic Areas

The following table provides information on our foreign and domestic revenues:

Geographic information (revenues):
United States	$	8,373	$	9,847
Foreign countries		220		181
Consolidated total	$	8,593	$	10,028

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Description of Business (Details)	12 Months Ended
	Jun. 27, 2021 Restaurant
Texas [Member]
Description of Business [Abstract]
Percentage of total number of domestic units	25.00%
Arkansas [Member]
Description of Business [Abstract]
Percentage of total number of domestic units	21.00%
North Carolina [Member]
Description of Business [Abstract]
Percentage of total number of domestic units	16.00%
Mississippi [Member]
Description of Business [Abstract]
Percentage of total number of domestic units	8.00%
Pie Five Units [Member]
Description of Business [Abstract]
Number of restaurants franchised	33
Pizza Inn Restaurants [Member]
Description of Business [Abstract]
Number of restaurants franchised	156
Pizza Inn Restaurants [Member] \| US [Member]
Description of Business [Abstract]
Number of restaurants franchised	124
Pizza Inn Restaurants [Member] \| International [Member]
Description of Business [Abstract]
Number of restaurants franchised	32
Pizza Inn Express [Member]
Description of Business [Abstract]
Number of restaurants franchised	11
Pizza Buffet Restaurants [Member] \| US [Member]
Description of Business [Abstract]
Number of restaurants franchised	70
Delivery/Carry-Out Restaurants [Member] \| US [Member]
Description of Business [Abstract]
Number of restaurants franchised	10
Express Restaurants [Member] \| US [Member]
Description of Business [Abstract]
Number of restaurants franchised	44

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Mar. 28, 2021	Jun. 28, 2020
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 0.2	$ 0.2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Concentration of Credit Risk (Details) - Concentration of Credit Risk [Member] $ in Thousands	12 Months Ended
	Jun. 27, 2021 USD ($) Franchise Notes	Jun. 28, 2020 USD ($) Franchise
Concentration of Credit Risk [Abstract]
Deposit insurance corporation (FDIC) limits	$ 250
Cash balances in excess of FDIC insurance coverage	$ 8,000	$ 2,700
Number of franchisees had credit risk on notes receivable \| Franchise	5	5
Number of short term notes receivables \| Notes	6
Number of notes receivable \| Notes	1
Number of franchises \| Franchise	1
Note receivables from franchisees	$ 1,000
Weighted average interest rate of financed assets sale	0.00%

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Property, Plant and Equipment (Details)	12 Months Ended
	Jun. 27, 2021
Minimum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of assets	3 years
Maximum [Member]
Property, Plant and Equipment [Abstract]
Estimated useful lives of assets	10 years

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Impairment of Long-Lived Asset and other Lease Charges (Details) $ in Thousands	12 Months Ended
	Jun. 27, 2021 USD ($)
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Pre-tax, non-cash impairment charges on long lived assets	$ 21
Lease charges related to close units	700
Sublease income	$ 200

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Accounts Receivable (Details)	12 Months Ended
	Jun. 27, 2021
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
Finance charges rate	18.00%

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Notes Receivable (Details) $ in Thousands	Jun. 27, 2021 USD ($)
Notes Receivable [Abstract]
Weighted average interest rate	0.00%
Maturities of Notes Receivable [Abstract]
2022	$ 901
2023	52
2024	0
Total	$ 953

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Income Taxes (Details) $ in Thousands	12 Months Ended
	Jun. 27, 2021 USD ($)
Income Taxes [Abstract]
Net operating loss carryforwards	$ 23,600
Operating loss carryforwards, expiry date	Dec. 31, 2032
Amount of operating loss carryforwards limited with no expiration	$ 1,780
Operating loss carryforward, percentage limitation on use	80.00%
Minimum [Member]
Income Tax Examination [Abstract]
Period in which tax years remained open for examination	3 years
Maximum [Member]
Income Tax Examination [Abstract]
Period in which tax years remained open for examination	4 years

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Revenue Recognition (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Revenues [Abstract]
Revenues	$ 8,593	$ 10,028
Restaurant Sales [Member]
Revenues [Abstract]
Revenues	0	240
Franchise Royalties [Member]
Revenues [Abstract]
Revenues	3,689	3,697
Supplier and Distributor Incentive Revenues [Member]
Revenues [Abstract]
Revenues	3,482	3,906
Franchise License Fees [Member]
Revenues [Abstract]
Revenues	308	853
Area Development Exclusivity Fees and Foreign Master License Fees [Member]
Revenues [Abstract]
Revenues	21	20
Advertising Funds Contributions [Member]
Revenues [Abstract]
Revenues	705	799
Supplier Convention Funds [Member]
Revenues [Abstract]
Revenues	177	278
Rental Income [Member]
Revenues [Abstract]
Revenues	200	195
Other [Member]
Revenues [Abstract]
Revenues	$ 11	$ 40
Minimum [Member]
Franchise Revenues [Abstract]
Amortization term of franchise license fees	5 years
Maximum [Member]
Franchise Revenues [Abstract]
Amortization term of franchise license fees	20 years

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS, Property, and Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Property, Plant and Equipment, Net, by Type [Abstract]
Property, and plant and equipment, gross	$ 2,285	$ 2,089
Less: accumulated depreciation/amortization	(1,840)	(1,723)
Property, and plant and equipment, net	445	366
Depreciation and amortization expense	$ 131	145
Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Estimated Useful Lives	3 years
Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Estimated Useful Lives	10 years
Equipment, Furniture and Fixtures [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Property, and plant and equipment, gross	$ 1,021	808
Equipment, Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Estimated Useful Lives	3 years
Equipment, Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Estimated Useful Lives	7 years
Software [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Estimated Useful Lives	5 years
Property, and plant and equipment, gross	$ 792	809
Leasehold Improvements [Member]
Property, Plant and Equipment, Net, by Type [Abstract]
Estimated Useful Lives	10 years
Property, and plant and equipment, gross	$ 472	$ 472

PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS, Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Finite-Lived Intangible Assets, Net [Abstract]
Acquisition cost	$ 422	$ 578
Accumulated amortization	(239)	(423)
Net value	183	155
Amortization expense for intangible assets	$ 36	41
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Estimated useful lives	10 years
Acquisition cost	$ 278	278
Accumulated amortization	(209)	(181)
Net value	$ 69	97
Name Change [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Estimated useful lives	15 years
Acquisition cost	$ 70	70
Accumulated amortization	(30)	(25)
Net value	$ 40	45
Prototypes [Member]
Finite-Lived Intangible Assets, Net [Abstract]
Estimated useful lives	5 years
Acquisition cost	$ 74	230
Accumulated amortization	0	(217)
Net value	$ 74	$ 13

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Jun. 28, 2020
ACCRUED EXPENSES [Abstract]
Compensation	$ 764	$ 451
Other	130	236
Professional fees	30	80
Insurance loss reserves	0	8
Accrued expenses	$ 924	$ 775

CONVERTIBLE NOTES (Details)		12 Months Ended
CONVERTIBLE NOTES (Details)	Mar. 03, 2017 USD ($) Notes	Jun. 27, 2021 USD ($) Subsidiary $ / shares	Jun. 28, 2020 USD ($)
Convertible Notes [Abstract]
Notes converted to common shares		$ 0	$ 64,000
4% Convertible Senior Notes due 2022 [Member]
Convertible Notes [Abstract]
Shareholders exercised subscription rights \| Notes	30,000
Par value of shares exercised per note	$ 100
Proceeds from issuance of convertible notes	$ 3,000,000
Interest on convertible notes	4.00%	4.00%
Maturity date of notes		Feb. 15, 2022
Number of direct operating subsidiaries \| Subsidiary		2
Conversion rate of common stock (in dollars per share) \| $ / shares		$ 2.00
Notes converted to common shares		$ 0
Notes outstanding		1,600,000
Unamortized debt issue costs and unamortized debt discounts		$ 28,000

PPP LOAN (Details) - USD ($) $ in Thousands		12 Months Ended
PPP LOAN (Details) - USD ($) $ in Thousands	Apr. 13, 2020	Jun. 27, 2021	Jun. 28, 2020
Debt Instrument [Abstract]
Proceeds from loans		$ 0	$ 657
PPP Loan [Member]
Debt Instrument [Abstract]
Proceeds from loans	$ 700

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Jun. 28, 2020
Provision for Income Taxes [Abstract]
Current - Federal	$ 0	$ 0
Current - State	(29)	18
Deferred - Federal	0	4,053
Deferred - State	0	7
Provision for income taxes	(29)	4,078
Effective Income Tax Rate [Abstract]
Federal income taxes based on a statutory rate of 21%	313	(33)
State income tax, net of federal effect	(23)	20
Permanent adjustments	5	4
PPP loan forgiveness	(138)	0
Change in valuation allowance	(190)	4,081
Other	4	6
Provision for income taxes	(29)	4,078
Net Deferred Tax Assets [Abstract]
Reserve for bad debt	10	61
Deferred fees	34	0
Other reserves and accruals	542	568
Operating lease liabilities	525	937
Credit carryforwards	197	171
Net operating loss carryforwards	5,563	5,371
Depreciable assets	0	306
Total gross deferred tax asset	6,871	7,414
Valuation allowance	(6,307)	(6,515)
Total deferred tax asset	564	899
Right-of-use asset	(461)	(815)
Other deferred tax liabilities	(103)	(84)
Total deferred tax liabilities	(564)	(899)
Net deferred tax asset	$ 0	$ 0
Federal statutory rate	21.00%	21.00%
Net operating loss carryforwards	$ 23,600
Operating loss carryforwards, expiry date	Dec. 31, 2032
Amount of operating loss carryforwards limited with no expiration	$ 1,780
Operating loss carryforward, percentage limitation on use	80.00%
Federal [Member] \| Minimum [Member]
Operating Loss Carryforwards [Abstract]
Tax years remaining open for examination from net operating losses or tax credits that are utilized	3 years
Federal [Member] \| Maximum [Member]
Operating Loss Carryforwards [Abstract]
Tax years remaining open for examination from net operating losses or tax credits that are utilized	4 years
State [Member] \| Minimum [Member]
Operating Loss Carryforwards [Abstract]
Tax years remaining open for examination from net operating losses or tax credits that are utilized	3 years
State [Member] \| Maximum [Member]
Operating Loss Carryforwards [Abstract]
Tax years remaining open for examination from net operating losses or tax credits that are utilized	4 years

LEASES (Details)	12 Months Ended
LEASES (Details)	Jun. 27, 2021 USD ($) ft² Restaurant Lease	Jun. 28, 2020 USD ($)	Jan. 02, 2017
Lease [Abstract]
Area available for lease \| ft²	19,576
Lease payment per square foot	$ 18.00
Percentage of monthly base rent elected to defer under lease agreement	50.00%
Operating Lease, Description [Abstract]
Number of subleases \| Lease	2
Components of Total Lease Expense [Abstract]
Operating lease cost	$ 705,000
Sublease income	(200,000)
Total lease expense, net of sublease income	505,000
Supplemental Cash Flow Information Related to Operating Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	755,000
Balance Sheet [Abstract]
Operating lease right of use assets, net	2,085,000	$ 3,567,000
Operating lease liabilities, current	465,000	632,000
Operating lease liabilities, net of current portion	$ 1,911,000	3,471,000
Weighted Average Remaining Lease Term and Discount Rate [Abstract]
Weighted average remaining lease term	4 years
Weighted average discount rate	4.00%
Maturities of Operating Lease Liabilities [Abstract]
2022	$ 551,000
2023	558,000
2024	511,000
2025	433,000
2026	382,000
Thereafter	191,000
Total operating lease payments	2,626,000
Less: imputed interest	(250,000)
Total operating lease liability	2,376,000
Future Minimum Operating Lease Liabilities [Abstract]
2022	1,168,000
2023	1,056,000
2024	844,000
2025	685,000
2026	490,000
Thereafter	364,000
Total operating lease payments	4,607,000
Sublease Rental Income [Abstract]
2022	175,000
2023	177,000
2024	128,000
2025	53,000
Total	533,000
Rental Expense [Abstract]
Minimum rentals	705,000	676,000
Sublease rentals	(200,000)	(168,000)
Rental expense	$ 505,000	$ 508,000
Maximum [Member]
Lease [Abstract]
Lease term			10 years
Information Technology Equipment [Member] \| Minimum [Member]
Operating Lease, Description [Abstract]
Term of contract	1 year
Information Technology Equipment [Member] \| Maximum [Member]
Operating Lease, Description [Abstract]
Term of contract	5 years
Office Agreements [Member] \| Minimum [Member]
Operating Lease, Description [Abstract]
Term of contract	1 year
Office Agreements [Member] \| Maximum [Member]
Operating Lease, Description [Abstract]
Term of contract	10 years
Restaurant Space Agreements [Member]
Operating Lease, Description [Abstract]
Number of company-owned restaurants \| Restaurant	0
Restaurant Space Agreements [Member] \| Minimum [Member]
Operating Lease, Description [Abstract]
Term of contract	1 year
Restaurant Space Agreements [Member] \| Maximum [Member]
Operating Lease, Description [Abstract]
Term of contract	10 years
Company Owned Restaurants [Member] \| Minimum [Member]
Lease [Abstract]
Lease term	5 years
Company Owned Restaurants [Member] \| Maximum [Member]
Lease [Abstract]
Lease term	10 years

EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
EMPLOYEE BENEFITS (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Jun. 28, 2020
EMPLOYEE BENEFITS [Abstract]
Service required for employees to be eligible to participate in employee benefits plan	3 months
Defined contribution plan, minimum age limit for eligibility to participate in plan	21 years
Total matching contributions	$ 24	$ 0
Minimum [Member]
EMPLOYEE BENEFITS [Abstract]
Percentage of compensation deferred and contributed to employee benefits plan by employee	1.00%
Maximum [Member]
EMPLOYEE BENEFITS [Abstract]
Percentage of compensation deferred and contributed to employee benefits plan by employee	15.00%

STOCK BASED COMPENSATION PLANS, Stock Option Award Plan (Details) - shares	1 Months Ended	12 Months Ended
	Jun. 30, 2015	Jun. 27, 2021	Jun. 24, 2018	Jun. 02, 2015
2005 Employee Plan [Member]
Share-based Arrangements [Abstract]
Number of shares authorized (in shares)	1,000,000
2005 Directors Plan [Member]
Share-based Arrangements [Abstract]
Number of shares authorized (in shares)	650,000
Number of shares granted (in shares)	40,000
2005 Directors Plan [Member] \| Minimum [Member]
Share-based Arrangements [Abstract]
Vesting period		6 months
2005 Directors Plan [Member] \| Maximum [Member]
Share-based Arrangements [Abstract]
Vesting period		10 years
2015 LTIP [Member]
Share-based Arrangements [Abstract]
Number of shares authorized (in shares)				1,200,000
Number of shares granted (in shares)			40,000
Vesting period		6 months
Expiration period		10 years

STOCK BASED COMPENSATION PLANS, Summary of Stock Options (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Shares [Roll Forward]
Outstanding at beginning of year (in shares)	206,750	216,550
Granted (in shares)	0	0
Exercised (in shares)	0	0
Forfeited/Canceled/Expired (in shares)	(40,000)	(9,800)
Outstanding at end of period (in shares)	166,750	206,750
Exercisable at end of period (in shares)	166,750	206,750
Weighted Average Exercise Price [Roll Forward]
Outstanding at beginning of year (in dollars per share)	$ 4.96	$ 4.82
Granted (in dollars per share)	0	0
Exercised (in dollars per share)	0	0
Forfeited/Canceled/Expired (in dollars per share)	2.71	1.87
Outstanding at end of period (in dollars per share)	5.49	4.96
Exercisable at end of year (in dollars per share)	$ 5.49	$ 4.96
Intrinsic value of options outstanding	$ 0

STOCK BASED COMPENSATION PLANS, Information on Options Outstanding and Options Exercisable (Details) - Stock Options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Options Outstanding [Abstract]
Options outstanding (in shares)	166,750
Weighted-average remaining contractual life	3 years
Weighted-average exercise price (in dollars per share)	$ 5.49
Options Exercisable [Abstract]
Shares exercisable (in shares)	166,750
Weighted-average exercise price (in dollars per share)	$ 5.49
Stock compensation expense	$ 0	$ 0
$2.76 - 3.30 [Member]
Options Outstanding [Abstract]
Range of exercise prices, lower range (in dollars per shares)	$ 2.76
Range of exercise prices, upper range (in dollars per shares)	$ 3.30
Options outstanding (in shares)	55,000
Weighted-average remaining contractual life	1 year
Weighted-average exercise price (in dollars per share)	$ 3.11
Options Exercisable [Abstract]
Shares exercisable (in shares)	55,000
Weighted-average exercise price (in dollars per share)	$ 3.11
$3.31 - 3.95 [Member]
Options Outstanding [Abstract]
Range of exercise prices, lower range (in dollars per shares)	3.31
Range of exercise prices, upper range (in dollars per shares)	$ 3.95
Options outstanding (in shares)	50,000
Weighted-average remaining contractual life	5 years
Weighted-average exercise price (in dollars per share)	$ 3.95
Options Exercisable [Abstract]
Shares exercisable (in shares)	50,000
Weighted-average exercise price (in dollars per share)	$ 3.95
$5.51 - 5.74 [Member]
Options Outstanding [Abstract]
Range of exercise prices, lower range (in dollars per shares)	5.51
Range of exercise prices, upper range (in dollars per shares)	$ 5.74
Options outstanding (in shares)	8,664
Weighted-average remaining contractual life	2 years
Weighted-average exercise price (in dollars per share)	$ 5.74
Options Exercisable [Abstract]
Shares exercisable (in shares)	8,664
Weighted-average exercise price (in dollars per share)	$ 5.74
$5.95 - 6.25 [Member]
Options Outstanding [Abstract]
Range of exercise prices, lower range (in dollars per shares)	5.95
Range of exercise prices, upper range (in dollars per shares)	$ 6.25
Options outstanding (in shares)	28,800
Weighted-average remaining contractual life	3 years
Weighted-average exercise price (in dollars per share)	$ 6.23
Options Exercisable [Abstract]
Shares exercisable (in shares)	28,800
Weighted-average exercise price (in dollars per share)	$ 6.23
$6.26 - 13.11 [Member]
Options Outstanding [Abstract]
Range of exercise prices, lower range (in dollars per shares)	6.26
Range of exercise prices, upper range (in dollars per shares)	$ 13.11
Options outstanding (in shares)	24,286
Weighted-average remaining contractual life	4 years
Weighted-average exercise price (in dollars per share)	$ 13.11
Options Exercisable [Abstract]
Shares exercisable (in shares)	24,286
Weighted-average exercise price (in dollars per share)	$ 13.11

STOCK BASED COMPENSATION PLANS, Restricted Stock Units (Details) - Restricted Stock Units [Member] - shares	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Summary of Restricted Stock Units [Roll forward]
Unvested Beginning Balance (in shares)	0	155,106
Granted (in shares)	545,600	0
Vested (in shares)	0	(9,053)
Forfeited (in shares)	0	(146,053)
Unvested Ending Balance (in shares)	545,600	0
Minimum [Member]
Information of Restricted Stock Units Award [Abstract]
Percentage of stock granted based on performance	50.00%
Maximum [Member]
Information of Restricted Stock Units Award [Abstract]
Percentage of stock granted based on performance	150.00%

SHAREHOLDERS' EQUITY (Details) - USD ($)		12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Dec. 05, 2017	Jun. 27, 2021	Jun. 28, 2020	Apr. 22, 2009
Treasury Stock, Shares [Abstract]
Repurchase of shares (in shares)		0
Number of common stock shares available to be repurchased (in shares)		848,425
Sale of Stock [Abstract]
Proceeds from sale of common stock in ATM offering		$ 3,761,000	$ 357,000
Amended 2007 Stock Purchase Plan [Member]
Treasury Stock, Shares [Abstract]
Number of common stock shares authorized to purchase (in shares)				3,016,000
2017 ATM Offering [Member]
Sale of Stock [Abstract]
Aggregate offering price	$ 5,000,000
Sale of common stock in ATM offering (in shares)		3,064,342
Proceeds from sale of common stock in ATM offering		$ 4,400,000
Percentage of offering fee in gross sales		3.00%
Expenses associated with ATM Offering		$ 131,000

COMMITMENTS AND CONTINGENCIES (Details)	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Details)	Jun. 28, 2020
COMMITMENTS AND CONTINGENCIES [Abstract]
Percentage reduction of employees base salary	20.00%

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Mar. 03, 2017
Earnings Per Share [Abstract]
Income/(loss) from continuing operations	$ 1,520	$ (4,233)
Interest saved on convertible notes at 4%	64	65
Adjusted net income/(loss)	$ 1,584	$ (4,168)
BASIC [Abstract]
Weighted average common shares (in shares)	17,307,000	15,144,000
Net income (loss) per common share (in dollars per share)	$ 0.09	$ (0.28)
DILUTED [Abstract]
Weighted average common shares (in shares)	17,307,000	15,144,000
Convertible notes (in shares)	798,000	0
Dilutive stock options (in shares)	0	0
Weighted average common shares outstanding (in shares)	18,105,000	15,144,000
Income/(loss) from continuing operations per common share (in dollars per share)	$ 0.09	$ (0.28)
Convertible Senior Notes [Member]
DILUTED [Abstract]
Interest rate	4.00%		4.00%
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings per Share [Abstract]
Options to purchase shares of common stock excluded from computation of diluted EPS (in shares)	166,750	206,750
Intrinsic value of options outstanding	$ 0	$ 0

SEGMENT REPORTING (Details) $ in Thousands	12 Months Ended
SEGMENT REPORTING (Details) $ in Thousands	Jun. 27, 2021 USD ($) Segment	Jun. 28, 2020 USD ($)
SEGMENT REPORTING [Abstract]
Number of reportable segments \| Segment	3
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	$ 8,593	$ 10,028
Depreciation and amortization	167	186
Income/(loss) before taxes	1,491	(155)
Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Depreciation and amortization	0	0
Income/(loss) before taxes	5,712	5,499
Corporate Administration and Other [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	195	232
Depreciation and amortization	167	186
Income/(loss) before taxes	(4,221)	(5,654)
Reportable Geographical Components [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	8,593	10,028
Reportable Geographical Components [Member] \| United States [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	8,373	9,847
Reportable Geographical Components [Member] \| Foreign Countries [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	220	181
Pizza Inn Franchising [Member] \| Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	6,582	6,662
Depreciation and amortization	0	0
Income/(loss) before taxes	5,205	5,365
Pie Five Franchising [Member] \| Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	1,816	2,894
Depreciation and amortization	0	0
Income/(loss) before taxes	799	1,140
Company-Owned Restaurants [Member] \| Operating Segments [Member]
Segment Reporting Information, Profit (Loss) [Abstract]
Consolidated revenues	0	240
Depreciation and amortization	0	0
Income/(loss) before taxes	$ (292)	$ (1,006)