Form: 8-K

Current report filing

June 14, 2004

Documents

Published on June 14, 2004

PIZZA INN, INC.'S CEO REPAYS REMAINING LOAN BALANCE


THE COLONY, TEXAS -JUNE 11, 2004- PIZZA INN, INC. (NASDAQ:PZZI) announced today
that Ronald W. Parker, the Company's President and Chief Executive Officer,
repaid in full his outstanding loan to the Company, which had a current
remaining balance of approximately $676,000. This loan originated from his
purchase of Company stock through the exercise of stock options. The Company
has no other outstanding loans to officers. The Company will use the proceeds
to reduce its outstanding indebtedness under its existing revolving credit
facility which balance is currently $1.2 million (before repayment).

Pizza Inn, Inc. is headquartered in The Colony, Texas, along with its
distribution division, Norco Restaurant Distribution Services. Pizza Inn
represents over 400 restaurants with annual sales of approximately $170 million.