What changed in this filing

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Item 1. Business

2025-12-19 compared with 2024-12-27 · 370 added, 380 removed, 242 unchanged (76% of the section changed)

As of September 27, 2025,

2024, Flanigan’s Enterprises, Inc., a Florida corporation, together with its subsidiaries (“we”, “our”,

“ours” and “us” as the context requires), (i) operates 32 units, consisting of restaurants, package liquor stores,

combination restaurant/package liquor stores and a sports bar that we either own or have operational control over and partial ownership

and (ii) franchises an additional five units, consisting of two restaurants (one of which we operate) and three combination restaurant/package

liquor stores.

The table below provides information concerning the type (i.e.

restaurant, sports bar, package liquor store or combination

restaurant/package liquor store) and ownership of the units (i.e.

Flanigan’s Enterprises, Inc., a Florida corporation, together with its subsidiaries (“we”, “our”, “ours”

and “us” as the context requires), (i) operates 32 units, consisting of restaurants, package liquor stores, combination restaurant/package

liquor stores and a sports bar that we either own or have operational control over and partial ownership in;

and (ii) franchises an additional

5 units, consisting of 2 restaurants (one of which we operate) and 3 combination restaurant/package liquor stores.

The table below provides

information concerning the type (i.e.

restaurant, sports bar, package liquor store or combination restaurant/package liquor store) and

ownership of the units (i.e.

whether (i) we own 100% of the unit;

(ii) the unit is owned by a limited

partnership of which we are the sole general partner and/or have invested in;

or (iii) the unit is franchised by us), as of September

28, 2024 and as compared to September 30, 2023.

With the exception of “The Whale’s Rib,” a restaurant we operate but

do not own, and “Brendan’s Sports Pub” a restaurant/bar we own, all of the restaurants operate under our service marks

“Flanigan’s Seafood Bar and Grill” or “Flanigan’s” and all of the package liquor stores operate under

our service marks “Big Daddy’s Liquors” or “Big Daddy’s Wine & Liquors”.

(ii) the unit is owned by a limited partnership of which we are the

sole general partner and/or have invested in;

or (iii) the unit is franchised by us), as of September 27, 2025 and as compared to September

With the exception of “The Whale’s Rib,” a restaurant we operate but do not own, and “Brendan’s

Sports Pub” a restaurant/bar we own, all of the restaurants operate under our service marks “Flanigan’s Seafood Bar

and Grill” or “Flanigan’s” and all of the package liquor stores operate under our service marks “Big Daddy’s

Liquors” or “Big Daddy’s Wine & Liquors”.

September 27,

September 28,

TYPES OF UNITS

Company Owned:

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Franchised Units

(1) During the first quarter of our fiscal

year 2019, our combination package liquor store and restaurant located at 2505 N.

University Drive, Hollywood, Florida (Store #19), was

damaged by a fire which caused it to be closed since the first quarter of our fiscal year 2019.

During the first quarter of our fiscal

year 2023, we opened our newly built stand-alone package liquor store on this site (2505 N.

University Drive, Building A, Hollywood, Florida)

(Store #19P), replacing our package liquor store destroyed by fire and previously operating here.

Store #19P is now reflected in the above

chart as a stand-alone liquor store, rather than as a combination unit.

Store #19R, a stand-alone restaurant building on this site, (2505

University Drive, Building B, Hollywood, Florida) opened on March 26, 2024 (adjacent to the package liquor store), and replaced our

restaurant destroyed by fire and previously operating here.

Store #19R is now reflected in the above chart as a stand-alone restaurant,

rather than as a combination unit.

(2) We operate a restaurant for one (1) franchisee.

This unit is included in the table both as a franchised restaurant, as well as a restaurant operated by us.

(1) We operate a restaurant

for one (1) franchisee.

This unit is included in the table both as a franchised restaurant,

as well as a restaurant operated by us.

History and Development of Our Business

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in 1959 and commenced operating as a chain of small cocktail lounges and package liquor stores throughout South Florida.

By 1970, we had

established a chain of "Big Daddy's" lounges and package liquor stores between Vero Beach and Homestead, Florida.

to 1979, we expanded our package liquor store and lounge operations throughout Florida and opened clubs in five other "Sun Belt"

In 1975, we discontinued most of our package store operations in Florida except in the South Florida areas of Miami-Dade, Broward,

Palm Beach and Monroe Counties.

In 1982, we expanded our club operations into the Philadelphia, Pennsylvania area as general partner of

several limited partnerships we organized.

In March 1985, we began franchising package liquor stores and lounges in the South Florida

had established a chain of “Big Daddy’s” lounges and package liquor stores between Vero Beach and Homestead, Florida.

From 1970 to 1979, we expanded our package liquor store and lounge operations throughout Florida and opened clubs in five other “Sun

Belt” states.

In 1975, we discontinued most of our package store operations in Florida except in the South Florida areas of Miami-Dade,

Broward, Palm Beach and Monroe Counties.

In 1982, we expanded our club operations into the Philadelphia, Pennsylvania area as general

partner of several limited partnerships we organized.

In March 1985, we began franchising package liquor stores and lounges in the South

Florida area.

(See Note 12 to the consolidated financial statements and the discussion of franchised units on pages 3 and 4).

During our fiscal year 1987, we

began renovating our lounges to provide full restaurant food service, and subsequently renovated and added food service to most of our

During our fiscal year 1987,

we began renovating our lounges to provide full restaurant food service, and subsequently renovated and added food service to most of

Food sales currently represent approximately 79.67% and bar sales approximately 20.33% of our total restaurant sales.

Our package liquor stores emphasize

high volume business by providing customers with a wide variety of brand name and private label merchandise at discount prices.

Our restaurants

and our sports bar establishment offer alcoholic beverages and food service with abundant portions and reasonable prices, served in a

relaxed, friendly and casual atmosphere.

We conduct our operations directly

and through a number of limited partnerships and wholly owned subsidiaries, all of which are listed below.

Our subsidiaries and the limited

partnerships, (except for the limited partnership, where we are not the general partner, which owns and operates our franchised restaurant

in Fort Lauderdale, Florida) are reported on a consolidated basis.

Our package liquor stores

emphasize high volume business by providing customers with a wide variety of brand name and private label merchandise at discount prices.

Our restaurants and our sports bar establishment offer alcoholic beverages and food service with abundant portions and reasonable prices,

served in a relaxed, friendly and casual atmosphere.

We conduct our operations

directly and through a number of limited partnerships and wholly owned subsidiaries, all of which are listed below.

Our subsidiaries

and the limited partnerships, (except for the limited partnership, where we are not the general partner, which owns and operates our

franchised restaurant in Fort Lauderdale, Florida) are reported on a consolidated basis.

Flanigan’s Management Services, Inc.

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Package Liquor Store Operations

Our package liquor stores emphasize

high volume business by providing customers with a wide selection of brand name and private label liquors, beers and wines while offering

competitive pricing by meeting the published sales prices of our competitors.

We provide sales training to our package liquor store personnel.

Our package liquor stores

emphasize high volume business by providing customers with a wide selection of brand name and private label liquors, beers and wines

while offering competitive pricing by meeting the published sales prices of our competitors.

We provide sales training to our package

liquor store personnel.

The stores are open for business seven days a week from 9:00-10:00 a.m.

to 10:00-11:00 p.m., depending upon demand and local law.

of our units have "night windows" with extended evening hours.

Company-Owned Package Liquor

As of our fiscal year ended September 28, 2024, we own and operate eleven package liquor stores in the South Florida area

under the name “Big Daddy’s Liquors” or “Big Daddy’s Wine & Liquors”, two of which are jointly

to 10:00-11:00 p.m., depending upon demand

and local law.

Most of our units have “night windows” with extended evening hours.

Company-Owned Package

Liquor Stores .

As of our fiscal year ended September 27, 2025, we own and operate eleven package liquor stores in the South Florida

area under the name “Big Daddy’s Liquors” or “Big Daddy’s Wine & Liquors”, two of which are jointly

operated with restaurants we own.

Franchised Package Liquor Stores .

We currently franchise three package liquor stores, all in the South Florida area, all of which are operated under the name “Big

Daddy’s Liquors”.

Of the three franchised package liquor stores, two are jointly operated with our franchisee’s restaurant

operations and one is operated in a freestanding building adjacent to the franchisee’s restaurant operation.

Two of the three franchised

package liquor stores are franchised to members of the family of our Chairman of the Board, officers and/or directors.

We have not entered

into a franchise arrangement for either a package liquor store, restaurant or combination package liquor store/restaurant since 1986 and

do not anticipate that we will do so in the foreseeable future.

Franchised Package Liquor

We currently franchise three package liquor stores, all in the South Florida area, all of which are operated under the name

“Big Daddy’s Liquors”.

Of the three franchised package liquor stores, two are jointly operated with our franchisee’s

restaurant operations and one is operated in a freestanding building adjacent to the franchisee’s restaurant operation.

the three franchised package liquor stores are franchised to members of the family of our Chairman of the Board, officers and/or directors.

We have not entered into a franchise arrangement for either a package liquor store, restaurant or combination package liquor store/restaurant

since 1986 and do not anticipate that we will do so in the foreseeable future.

Generally, a franchise agreement

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In exchange for our providing management and related services to the franchisee and our granting the right to the franchisee

to use our service mark, “Big Daddy’s Liquors”, franchisees of package liquor stores pay us weekly in arrears, (i) a

royalty equal to approximately 1% of gross sales;

to use our service mark, “Big Daddy’s Liquors”, franchisees of package liquor stores pay us weekly in arrears, (i)

a royalty equal to approximately 1% of gross sales;

plus (ii) an amount for advertising equal to between 1.5% to 3% of gross sales generated

at the stores depending upon our actual advertising costs.

For accounting purposes, we do

not consolidate the revenue and expenses of our franchisees’ operations with our revenue and expenses.

Franchise royalties we receive

are recognized as revenue when sales are made by franchisees.

For accounting purposes,

we do not consolidate the revenue and expenses of our franchisees’ operations with our revenue and expenses.

Franchise royalties

we receive are recognized as revenue when sales are made by franchisees.

Restaurant Operations

Our restaurants provide a neighborhood

casual, standardized dining experience, typical of casual restaurant chains.

The interior decor of the restaurants is nautical with numerous

fishing and boating pictures and decorations.

The restaurants are designed to permit minor modifications without significant capital expenditures.

Our restaurants provide a

neighborhood casual, standardized dining experience, typical of casual restaurant chains.

The interior decor of the restaurants is nautical

with numerous fishing and boating pictures and decorations.

The restaurants are designed to permit minor modifications without significant

capital expenditures.

However, from time to time we are required to redesign and refurbish the restaurants at significant cost.

Drink prices may vary between

locations to meet local conditions.

prices may vary between locations to meet local conditions.

Food prices are substantially standardized for all restaurants.

The restaurants' hours of operation

are from 11:00 a.m.

The restaurants’

hours of operation are from 11:00 a.m.

to 1:00-5:00 a.m.

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Franchised Restaurants .

We franchise five restaurants, all of which operate under our service mark “Flanigan’s Seafood Bar and Grill”, two of

which operate as a restaurant only, two of which operate jointly with a franchisee operated “Big Daddy’s Liquors” package

liquor store and one of which operates adjacent to a “Big Daddy’s Liquors” package liquor store.

Four of the five franchised

restaurants are franchised to members of the family of our Chairman of the Board, officers and/or directors.

We have not entered into

a franchise arrangement for either a package liquor store, restaurant or combination package liquor store/restaurant since 1986 and do

not anticipate that we will do so in the foreseeable future.

We franchise five restaurants, all of which operate under our service mark “Flanigan’s Seafood Bar and Grill”, two

of which operate as a restaurant only, two of which operate jointly with a franchisee operated “Big Daddy’s Liquors”

package liquor store and one of which operates adjacent to a “Big Daddy’s Liquors” package liquor store.

five franchised restaurants are franchised to members of the family of our Chairman of the Board, officers and/or directors.

not entered into a franchise arrangement for either a package liquor store, restaurant or combination package liquor store/restaurant

since 1986 and do not anticipate that we will do so in the foreseeable future.

Generally, a franchise agreement

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premises, extended by the franchisee’s continued occupancy of the business premises thereafter, whether by lease or ownership.

exchange for our providing management and related services to the franchisee and our granting the right to the franchisee to use our service

mark, “Flanigan’s Seafood Bar and Grill”, our franchisees pay us weekly in arrears, (i) a royalty equal to approximately

3% of gross sales;

plus (ii) an amount for advertising equal to between 1.5% to 3% of gross sales from the restaurants depending upon

our actual advertising costs.

For accounting purposes, we do

not consolidate the revenue and expenses of our franchisees’ operations with our revenue and expenses.

Franchise royalties we receive

are recognized as revenue when sales are made by franchisees.

In exchange for our providing management and related services to the franchisee and our granting the right to the franchisee to use our

service mark, “Flanigan’s Seafood Bar and Grill”, our franchisees pay us weekly in arrears, (i) a royalty equal to

approximately 3% of gross sales;

plus (ii) an amount for advertising equal to between 1.5% to 3% of gross sales from the restaurants

depending upon our actual advertising costs.

For accounting purposes,

we do not consolidate the revenue and expenses of our franchisees’ operations with our revenue and expenses.

Franchise royalties

we receive are recognized as revenue when sales are made by franchisees.

Restaurants Owned by Affiliated Limited Partnerships

We have invested along with others,

(some of whom are or are affiliated with our officers and directors), in eleven limited partnerships which currently own and operate eleven

South Florida based restaurants under our service mark “Flanigan’s Seafood Bar and Grill”.

In addition to being a limited

partner in these limited partnerships, we are the sole general partner of ten of these limited partnerships and manage and control the

operations of these restaurants except for the restaurant located in Fort Lauderdale, Florida where we only hold a limited partnership

Generally, the terms of the limited partnership agreements

provide that until the investors’ cash investment in a limited partnership (including any cash invested by us) is returned in full,

(available cash is distributed to the investors pro-rata based on ownership interest), the limited partnership distributes to the investors

annually out of available cash from the operation of the restaurant, as a return of capital, up to 25% of the cash invested in the limited

partnership, with no management fee paid to us.

Any available cash in excess of the 25% of the cash invested in the limited partnership

distributed to the investors annually, is paid one-half (½) to us as a management fee and one-half (½) to the investors,

(including us), pro-rata based on the investors’ investment, as a return of capital.

Once all of the investors, (including us),

have received, in full, amounts equal to their cash invested, an annual management fee becomes payable to us equal to one-half (½)

of cash available to be distributed, with the other one-half (½) of available cash distributed to the investors (including us),

as a profit distribution, pro-rata based on the investors’ investment.

As of September 28, 2024, all limited partnerships, with

the exception of the limited partnership which owns the restaurant in Sunrise, Florida (Store #85), which opened for business in March

2022 and the limited partnership which owns the restaurant in Miramar, Florida (Store #25), which opened for business in April 2023, have

returned all cash invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution

by the limited partnership.

In addition to receipt of distributable amounts from

the limited partnerships, we receive a fee equal to 3% of gross sales for use of our service marks “Flanigan’s Seafood Bar

and Grill” or “Flanigan’s”, which use is authorized while we act as general partner only.

This 3% fee is “earned”

when sales are made by the limited partnerships and is paid weekly, in arrears.

Whether we will have any additional restaurants in the

future will be dependent, among other things, on market conditions and our ability to raise capital.

We anticipate that we will continue

to form limited partnerships to raise funds to own and operate restaurants under our service marks “Flanigan’s Seafood Bar

and Grill” or “Flanigan’s” using the same or substantially similar financial arrangements.

Below is information on the eleven

limited partnerships which own and operate “Flanigan’s Seafood Bar and Grill” or “Flanigan’s” restaurants:

We have invested along with

others (some of whom are affiliated with our officers and directors) in eleven limited partnerships which currently own and operate eleven

South Florida based restaurants under our service marks “Flanigan’s Seafood Bar and Grill” or “Flanigan’s”.

In addition to being a limited partner in these limited partnerships, we are the sole general partner of ten of these limited partnerships

and manage and control the operations of these restaurants except for the restaurant located in Fort Lauderdale, Florida where we only

hold a limited partnership interest.

Generally, the terms of the

limited partnership agreements provide that until the investors’ cash investment in a limited partnership (including any cash invested

by us) is returned in full, (available cash is distributed to the investors pro-rata based on ownership interest), the limited partnership

distributes to the investors annually out of available cash from the operation of the restaurant, as a return of capital, up to 25% of

the cash invested in the limited partnership, with no management fee paid to us.

Any available cash in excess of the 25% of the cash

invested in the limited partnership distributed to the investors annually, is paid one-half (½) to us as a management fee and

one-half (½) to the investors (including us), pro-rata based on the investors’ investment, as a return of capital.

all of the investors (including us), have received, in full, amounts equal to their cash invested, an annual management fee becomes payable

to us equal to one-half (½) of cash available to be distributed, with the other one-half (½) of available cash distributed

to the investors (including us), as a profit distribution, pro-rata based on the investors’ investment.

As of September 27, 2025,

all limited partnerships, with the exception of the limited partnership which owns the restaurant in Sunrise, Florida (Store #85), which

opened for business in March 2022 and the limited partnership which owns the restaurant in Miramar, Florida (Store #25), which opened

for business in April 2023, have returned all cash invested and we receive an annual management fee equal to one-half (½) of the

cash available for distribution by the limited partnership.

In addition to receipt of

distributable amounts from the limited partnerships, we receive a fee equal to 3% of gross sales for use of our service marks “Flanigan’s

Seafood Bar and Grill” or “Flanigan’s”, which use is authorized while we act as general partner only.

fee is “earned” when sales are made by the limited partnerships and is paid weekly, in arrears.

Whether we will have any

additional restaurants in the future will be dependent, among other things, on market conditions and our ability to raise capital.

anticipate that we will continue to form limited partnerships to raise funds to own and operate restaurants under our service marks “Flanigan’s

Seafood Bar and Grill” or “Flanigan’s” using the same or substantially similar financial arrangements.

Below is information on the

eleven limited partnerships which own and operate “Flanigan’s Seafood Bar and Grill” or “Flanigan’s”

Surfside, Florida

2 unchanged sentences

Seafood Bar and Grill” service mark since March 6, 1998.

33.3% of the limited partnership interest is owned by persons who are either

our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash invested

and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

33.3% of the limited partnership interest is owned by persons who are

either our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited

This entity is consolidated in the accompanying consolidated financial statements.

Kendall, Florida

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Seafood Bar and Grill” service mark since April 4, 2000.

28.3% of the limited partnership interest is owned by persons who are either

our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash invested

and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

28.3% of the limited partnership interest is owned by persons who are

either our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited

This entity is consolidated in the accompanying consolidated financial statements.

West Miami, Florida

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invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited

This entity is consolidated in the accompanying consolidated financial statements.

Wellington, Florida

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and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

This entity is consolidated in the accompanying consolidated financial statements.

Pinecrest, Florida

5 unchanged sentences

This limited partnership has returned to its investors all of their initial cash

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited

This entity is consolidated in the accompanying consolidated financial statements.

Pembroke Pines, Florida

We are the sole general partner

and a 24% limited partner in this limited partnership which has owned and operated a restaurant in Pembroke Pines, Florida under our “Flanigan’s

Seafood Bar and Grill” service mark since October 29, 2007.

23.0% of the limited partnership interest is owned by persons who are

either our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

and a 29% limited partner in this limited partnership which has owned and operated a restaurant in Pembroke Pines, Florida under our

“Flanigan’s Seafood Bar and Grill” service mark since October 29, 2007.

23.0% of the limited partnership interest is

owned by persons who are either our officers, directors or their family members.

This limited partnership has returned to its investors

all of their initial cash invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution

by this limited partnership.

This entity is consolidated in the accompanying consolidated financial statements.

Davie, Florida

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Seafood Bar and Grill” service mark since July 28, 2008.

12.0% of the limited partnership interest is owned by persons who are either

our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash invested

and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

12.0% of the limited partnership interest is owned by persons who are

either our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited

This entity is consolidated in the accompanying consolidated financial statements.

Miami, Florida

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Seafood Bar and Grill” service mark since December 27, 2012.

26.3% of the limited partnership interest is owned by persons who are

either our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial cash

invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited partnership.

26.3% of the limited partnership interest is owned by persons who

are either our officers, directors or their family members.

This limited partnership has returned to its investors all of their initial

cash invested and we receive an annual management fee equal to one-half (½) of the cash available for distribution by this limited

This entity is consolidated in the accompanying consolidated financial statements.

Sunrise, Florida

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As of the end of our fiscal year 2025, this limited partnership has returned to its investors approximately

of their initial cash invested.

26.5% of their initial cash invested and as a result, we are currently not entitled to receive any management fees from this limited

This entity is consolidated in the accompanying consolidated financial statements.

Miramar, Florida

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As of the end of our fiscal year 2025, this limited

partnership has returned to its investors approximately 25.0% of their initial cash invested.

partnership has returned to its investors approximately 45% of their initial cash invested and as a result, we are currently not entitled

to receive any management fee from this limited partnership.

This entity is consolidated in the accompanying consolidated financial statements.

Fort Lauderdale, Florida

A corporation owned by one

of our board members acts as sole general partner of a limited partnership which has owned and operated a restaurant in Fort Lauderdale,

Florida under our “Flanigan’s Seafood Bar and Grill” service mark since April 1, 1997.

We have a 25% limited partnership

interest in this limited partnership.

56.9% of the limited partnership interest is owned by persons who are either our officers, directors

or their family members.

This limited partnership has returned to its investors all cash invested, but since we are not the general partner

of this limited partnership, we do not receive an annual management fee.

We have a franchise arrangement with this limited partnership

and for accounting purposes, we do not consolidate the operations of this limited partnership into our operations.

Management Agreement for “The Whale’s Rib” Restaurant

Since January 2006, we have managed

“The Whale’s Rib”, a casual dining restaurant located in Deerfield Beach, Florida, pursuant to a management agreement.

A corporation, owned by a

member of our Board of Directors, acts as sole general partner of a limited partnership which has owned and operated a restaurant in

Fort Lauderdale, Florida under our “Flanigan’s Seafood Bar and Grill” service mark since April 1, 1997.

We have a 25%

limited partnership interest in this limited partnership.

56.9% of the limited partnership interest is owned by persons who are either

our officers, directors or their family members.

This limited partnership has returned to its investors all cash invested, but since

we are not the general partner of this limited partnership, we do not receive an annual management fee.

We have a franchise arrangement

with this limited partnership and for accounting purposes, we do not consolidate the operations of this limited partnership into our

Management Agreement for “The Whale’s Rib”

Since January 2006, we have

managed “The Whale’s Rib”, a casual dining restaurant located in Deerfield Beach, Florida, pursuant to a management

We paid $500,000 in exchange for our rights to manage this restaurant.

The restaurant is owned by a third party unaffiliated with us.

In exchange for providing management, bookkeeping and related services, we receive one-half (½) of the net profit, if any, from

the operation of the restaurant.

For our fiscal years ended September 28, 2024 and September 30, 2023, we generated $200,000 and $400,000

respectively of revenue each fiscal year from providing these management services.

The restaurant is owned by a third party unaffiliated

In exchange for providing management, bookkeeping and related services, we receive one-half (½) of the net profit, if

any, from the operation of the restaurant.

For the fiscal years ended September 27, 2025 and September 28, 2024, we generated $200,000

of revenue in each respective fiscal year from providing these management services.

Operations and Management

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who visit all Company, limited partnership and franchise owned units and the managed unit to provide on-site management and support.

are three supervisors responsible for package liquor store operations and six supervisors responsible for restaurant operations.

There are three supervisors responsible for package liquor store operations and six supervisors responsible for restaurant operations.

All of our managers and salespersons

receive extensive training in sales techniques.

We arrange for independent third parties, or "shoppers", to inspect each unit

in order to evaluate the unit's operations, including the handling of cash transactions.

We arrange for independent third parties, or “shoppers”, to inspect each

unit in order to evaluate the unit’s operations, including the handling of cash transactions.

Purchasing and Inventory

The package liquor business requires

a constant substantial capital investment in inventory at the stores.

Our inventory consists primarily of liquor and wine products and

as such, does not become excessive or obsolete that would require identifying and recording of the same.

Liquor inventory purchased can

normally be returned only if defective or broken.

The package liquor business

requires a constant substantial capital investment in inventory at the stores.

Our inventory consists primarily of liquor and wine products

and as such, does not become excessive or obsolete that would require identifying and recording of the same.

Liquor inventory purchased

can normally be returned only if defective or broken.

All of our purchases of liquor

7 unchanged sentences

increase our inventory prior to Christmas, New Year’s Eve and other holidays.

Under Florida law, we are required to pay for our liquor

purchases within ten days of delivery.

Under Florida law, we are required to pay for our

liquor purchases within ten days of delivery.

Negotiations with food suppliers

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be available to each restaurant.

Orders for food products are regularly prepared by each restaurant's kitchen manager and reviewed by

the restaurant's general manager before orders are placed.

Orders for food products are regularly prepared by each restaurant’s kitchen manager and reviewed

by the restaurant’s general manager before orders are placed.

Food is delivered by the supplier directly to each restaurant.

Orders are placed

several times a week to ensure product freshness.

Food inventory is primarily paid for monthly.

We purchase food and other commodities

for use in our operations based on market prices established with our suppliers.

Many of the food products purchased by us can be subject

to price volatility due to market supply and demand factors outside of our control.

We mitigate the risk of supply shortages and obtain

competitive prices by utilizing multiple qualified suppliers for substantially all our food products.

We negotiate short-term and long-term

agreements for certain of our principal food product requirements, depending on market conditions and expected demand.

We evaluate the

possibility of entering into arrangements to assist us in managing risk and variability associated with the supply and demand of food

In order to fix the cost and ensure adequate supply

of baby back ribs for our restaurants for calendar year 2025, we entered into a purchase agreement with a new rib supplier, whereby we

agreed to purchase approximately $7.8 million of “2.5 & Down Baby Back Ribs” (weight range in which baby back ribs are

sold) during calendar year 2025, at a prescribed cost, which we believe is competitive.

For calendar year 2024, we entered into a purchase

agreement with our current rib supplier, whereby we agreed to purchase approximately $7.0 million of “2.25 & Down Baby Back

Ribs” during calendar year 2024, at a prescribed cost, which we also believe is competitive.

The increase in our cost of baby back

ribs for calendar year 2025 compared to calendar year 2024 is due to our purchase of larger sized baby back ribs and the purchase of baby

back ribs for Store #19R, Hollywood, Florida for the entire calendar year, offset by a decrease in market price.

are placed several times a week to ensure product freshness.

Food inventory is primarily paid for weekly.

We purchase food and other

commodities for use in our operations based on market prices established with our suppliers.

Many of the food products purchased by us

can be subject to price volatility due to market supply and demand factors outside of our control.

We mitigate the risk of supply shortages

and obtain competitive prices by utilizing multiple qualified suppliers for substantially all our food products.

We negotiate short-term and

long-term agreements for certain of our principal food product requirements, depending on market conditions and expected demand.

the possibility of entering into arrangements to assist us in managing risk and variability associated with the supply and demand of

food products.

In order to fix the cost

and ensure adequate supply of baby back ribs for our restaurants for calendar year 2026, we entered into a purchase agreement with our

existing rib supplier, whereby we agreed to purchase approximately $9.2 million of “2.5 & Down Baby Back Ribs” (weight

range in which baby back ribs are sold) during calendar year 2026, at a prescribed cost, which we believe is competitive.

year 2025, we entered into a purchase agreement with a new rib supplier, whereby we agreed to purchase approximately $7.8 million of

“2.5 & Down Baby Back Ribs” during calendar year 2025, at a prescribed cost, which we also believe is competitive.

increase in our cost of baby back ribs for calendar year 2026 compared to calendar year 2025 is due to an increase in market price and

quantity ordered.

While we anticipate purchasing

all of our rib supply from this new vendor, we believe there are several other alternative vendors available, if needed.

all of our rib supply from this vendor, we believe there are several other alternative vendors available, if needed.

Information Technology

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food and beverage costs, labor costs and other controllable operating expenses.

Our restaurants and package liquor stores offer online

ordering for to-go sales and our package liquor stores also offer delivery services by third-party vendors.

and package liquor store hardware and software support is provided by both our internal support services team as well as third-party vendors.

restaurant and package liquor store has a private high-speed wide area connection to send and receive critical business data as well as

to access web-based applications securely as well as a failover capability.

All of our core and critical applications are backed

up to external data centers.

To mitigate business interruptions, we utilize a data backup and replication infrastructure between

our onsite and external data centers, so all data is replicated nightly between the sites.

We require cybersecurity awareness training for all

staff members with access to our cyber systems.

We also maintain cyber risk insurance coverage to further reduce our risk profile.

of our financial data and other sensitive information remains a high priority for us, led by our information technology department.

an effort to further secure our customers’ credit card information, we employ an encryption and tokenization platform for all credit

card transactions in our restaurants, ensuring no credit card data is stored in our internal systems.

We also transact business through

online ordering for both our restaurants and package liquor stores through third party vendors.

Our restaurants and package liquor stores offer

online ordering for to-go sales and our package liquor stores also offer delivery services by third-party vendors.

and package liquor store hardware and software support is provided by both our internal support services team as well as third-party

Each restaurant and package liquor store has a private high-speed wide area connection to send and receive critical business

data as well as to access web-based applications securely as well as a failover capability.

All of our core and critical applications

are backed up to external data centers.

To mitigate business interruptions, we utilize a data backup and replication infrastructure

between our onsite and external data centers, so all data is replicated nightly between the sites.

We require cybersecurity

awareness training for all staff members with access to our cyber systems.

We also maintain cyber risk insurance coverage to further

reduce our risk profile.

Security of our financial data and other sensitive information remains a high priority for us, led by our

information technology department.

In an effort to further secure our customers’ credit card information, we employ an encryption

and tokenization platform for all credit card transactions in our restaurants, ensuring no credit card data is stored in our internal

We also transact business through online ordering for both our restaurants and package liquor stores through third party vendors.

(See Item 1A.

Risk Factors and the discussion

of cybersecurity risks and Item 1C information on cybersecurity risk management.)

Risk Factors and the discussion of cybersecurity risks and Item 1C information on cybersecurity risk management.)

Government Regulation

Our operations are subject to

various federal, state and local laws affecting our business.

Our operations are subject

to various federal, state and local laws affecting our business.

In particular, our operations are subject to regulation by federal agencies

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and fire department agencies in the state or municipality where our units are located.

Alcoholic beverage control

regulations require each of our restaurants and package liquor stores to obtain a license to sell alcoholic beverages from a state authority

and in certain locations, county and municipal authorities.

In Florida, where all of

our restaurants and package liquor stores are located, most of our liquor licenses are issued on a “quota license” basis.

Quota licenses are issued on the basis of a population count established from time to time under the latest applicable census.

the total number of liquor licenses available under a quota license system is limited and restrictions are placed upon their transfer,

the licenses have purchase and resale value based upon supply and demand in the particular areas in which they are issued.

licenses held by us allow the sale of liquor for on and off premises consumption (the “4 COP Quota Liquor License”).

other liquor licenses held by us or limited partnerships of which we are the general partner, are restaurant liquor licenses, which do

not have quota restrictions or purchase or resale value.

A restaurant liquor license is issued to every applicant who meets all of the

state and local licensing requirements, including, but not limited to zoning and minimum restaurant size, seating and menu.

The restaurant

liquor licenses held by us allow the sale of liquor for on premises consumption only.

All licenses must be renewed

annually and may be revoked or suspended for cause at any time.

Suspension or revocation may result from violation by the licensee or

its employees of any federal, state or local law regulation pertaining to alcoholic beverage control.

Alcoholic beverage control regulations

require each of our restaurants and package liquor stores to obtain a license to sell alcoholic beverages from a state authority and in

certain locations, county and municipal authorities.

In Florida, where all of our restaurants

and package liquor stores are located, most of our liquor licenses are issued on a "quota license" basis.

Quota licenses are

issued on the basis of a population count established from time to time under the latest applicable census.

Because the total number of

liquor licenses available under a quota license system is limited and restrictions are placed upon their transfer, the licenses have purchase

and resale value based upon supply and demand in the particular areas in which they are issued.

The quota licenses held by us allow the

sale of liquor for on and off premises consumption (the “4 COP Quota Liquor License”).

The other liquor licenses held by us

or limited partnerships of which we are the general partner, are restaurant liquor licenses, which do not have quota restrictions or purchase

or resale value.

A restaurant liquor license is issued to every applicant who meets all of the state and local licensing requirements,

including, but not limited to zoning and minimum restaurant size, seating and menu.

The restaurant liquor licenses held by us allow the

sale of liquor for on premises consumption only.

All licenses must be renewed annually

and may be revoked or suspended for cause at any time.

Suspension or revocation may result from violation by the licensee or its employees

of any federal, state or local law regulation pertaining to alcoholic beverage control.

Alcoholic beverage control regulations relate

to numerous aspects of the daily operations of our units, including, minimum age of patrons and employees, hours of operations, advertising,

wholesale purchasing, inventory control, handling, storage and dispensing of alcoholic beverages, internal control and accounting.

As the sale of alcoholic beverages

constitutes a large share of our revenue, the failure to receive or retain, or a delay in obtaining a liquor license in a particular location

could adversely affect our operations in that location and could impair our ability to obtain licenses elsewhere.

During our fiscal years 2024 and

2023, no significant pending matters have been initiated concerning any of our licenses which might be expected to result in a revocation

relate to numerous aspects of the daily operations of our units, including, minimum age of patrons and employees, hours of operations,

advertising, wholesale purchasing, inventory control, handling, storage and dispensing of alcoholic beverages, internal control and accounting.

As the sale of alcoholic

beverages constitutes a large share of our revenue, the failure to receive or retain, or a delay in obtaining a liquor license in a particular

location could adversely affect our operations in that location and could impair our ability to obtain licenses elsewhere.

During our fiscal years 2025

and 2024, no significant pending matters have been initiated concerning any of our licenses which might be expected to result in a revocation

of a liquor license or other significant actions against us.

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increases in the minimum wage will increase labor costs.

We are also subject to the Americans with Disability Act of 1990 (ADA), which,

among other things, may require certain renovations to our restaurants to meet federally mandated requirements.

The cost of any such renovations

is not expected to materially affect us.

A significant number of our hourly

restaurant staff members receive income from gratuities.

We are also subject to the Americans with Disability Act of 1990 (“ADA”),

which, among other things, may require certain renovations to our restaurants to meet federally mandated requirements.

The cost of any

such renovations is not expected to materially affect us.

A significant number of our

hourly restaurant staff members receive income from gratuities.

Many of our locations participate voluntarily in a Tip Reporting Alternative

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By complying with the educational and

other requirements of the TRAC agreement, we reduce the likelihood of potential employer-only Federal

Insurance Contributions Act (FICA tax assessments for unreported or underreported tips.

We are not under investigation or audit, nor

have we been assessed for potential employer-only FICA tax assessments for unreported or underreported tips.

We are also subject to laws relating

to information security, privacy, cashless payments and consumer credit protection and fraud.

other requirements of the TRAC agreement, we reduce the likelihood of potential employer-only Federal Insurance Contributions Act (“FICA”)

tax assessments for unreported or underreported tips.

We are not under investigation or audit, nor have we been assessed for potential

employer-only FICA tax assessments for unreported or underreported tips.

We are also subject to laws

relating to information security, privacy, cashless payments and consumer credit protection and fraud.

We are not aware of any statute,

ordinance, rule or regulation under present consideration which would significantly limit or restrict our business as now conducted.

in view of the number of local jurisdictions within the State of Florida in which we conduct business, and the highly regulated nature

of the liquor business, there can be no assurance that additional limitations may not be imposed in the future, even though none are presently

However, in view of the number of local jurisdictions within the State of Florida in which we conduct business, and the highly regulated

nature of the liquor business, there can be no assurance that additional limitations may not be imposed in the future, even though none

are presently anticipated.

Human Capital

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causes personal to them.

We periodically donate to philanthropic organizations through campaigns designed to engage our staff company-wide

service programs, as follows:

Breast Cancer Awareness – We donate $10,000 annually to local Breast Cancer Support organizations.

Donated over $100,000 in total to HOPE mission.

Money is used for disaster and hunger relief all over the world, youth outreach, and community building.

Achievement Awards – We provide schools in Miami-Dade, Broward, and Palm Beach County with free meal coins and achievement awards throughout the year.

We give out approximately 85,000 awards every year.

Fishing Tournaments/Marine Conservation – We donate to fishing tournaments and beach cleanup projects.

Supporting the local community – We donate funds to boy scouts, baseball teams, schools, etc.

Sheridan House – We donated 500 backpacks to underprivileged children.

We also collect and donate school supplies annually.

Reclaimed Wood – All of our locations use reclaimed wood on interior walls.

We also believe our

sustainability programs and initiatives like restaurant-based recycling and replacing our off-premise packaging with materials that reduce

the use of plastics and improve recyclability serve to foster pride in our staff.

We periodically donate to philanthropic organizations through campaigns designed to engage our staff, as follows:

Cancer Awareness – We donate $10,000 annually to local Breast Cancer Support organizations.

Rockin’ Rib run 10k – We donate over $40,000 to Mami HOPE mission through our

annual 10k event.

Money is used for disaster and hunger relief all over the world, youth

outreach, and community building.

● Achievement

Awards – We provide schools in Miami-Dade, Broward, and Palm Beach County with free

kids’ meals and achievement awards throughout the year.

We give out approximately 85,000

awards every year.

Tournaments/Marine Conservation – We donate to fishing tournaments and beach cleanup

the local community – We donate funds to boy scouts, baseball teams, schools, etc.

Wood – All of our locations use reclaimed wood on interior walls.

also believe our sustainability programs and initiatives like restaurant-based recycling and replacing our off-premise packaging with

materials that reduce the use of plastics and improve recyclability serve to foster pride in our staff.

Executive Officers

Positions and Offices Currently Held

Office or Position

Chairman of the Board of Directors, Chief Executive Officer and President

and Offices Currently Held

Chairman of the Board of Directors, Chief Executive

Officer and President

Chief Operating Officer and Executive Vice President

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Vice President of Package Operations

(1) Chairman of the Board of Directors, Chief Executive Officer since 2005;

(1) Chairman of the Board

of Directors, Chief Executive Officer since 2005;

President since 2002.

(2) Chief Financial Officer since 2004;

(2) Chief Financial Officer

Secretary since 1995;

Counsel since 1982.

and General Counsel since 1982.

Flanigan’s 401(k) Plan

Effective July 1, 2004, we began

sponsoring a 401(k) retirement plan covering substantially all employees who meet certain eligibility requirements.

Employees may contribute

elective deferrals to the plan up to amounts allowed under the Internal Revenue Code.

We are not required to contribute to the plan but

may make discretionary profit sharing and/or matching contributions.

During our fiscal years ended September 28, 2024 and September 30,

2023, the Board of Directors approved discretionary matching contributions totaling $74,000 and $70,000, respectively.

Effective July 1, 2004, we

began sponsoring a 401(k) retirement plan covering substantially all employees who meet certain eligibility requirements.

Employees may

contribute elective deferrals to the plan up to amounts allowed under the Internal Revenue Code.

We are not required to contribute to

the plan but may make discretionary profit sharing and/or matching contributions.

During our fiscal years ended September 27, 2025 and

September 28, 2024, the Board of Directors approved discretionary matching contributions totaling $87,000 and $74,000, respectively.

General Liability Insurance

For the policy year beginning

December 30, 2023, we have general liability insurance which incorporates a $50,000 self-insured retention per occurrence for us and a

$10,000 self-insured retention per occurrence for the limited partnerships.

December 30, 2024, we have general liability insurance which incorporates a $50,000 self-insured retention per occurrence for us and

a $10,000 self-insured retention per occurrence for the limited partnerships.

Our insurance carrier is responsible for $1,000,000 coverage

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We were also able to purchase excess

liability insurance whereby our excess insurance carrier is responsible for $10,000,000 coverage above our primary general liability insurance

liability insurance whereby our excess insurance carrier is responsible for $10,000,000 coverage above our primary general liability

insurance coverage.

We are uninsured against liability claims in excess of $11,000,000 per occurrence and in the aggregate.

We secured general liability

insurance and excess liability insurance to be effective as of December 30, 2024.

Subsequent Events for a discussion of general

liability and excess liability insurance for the period commencing December 30, 2024.)

Our general policy is to settle

only those legitimate and reasonable claims asserted and to aggressively defend and go to trial, if necessary, on frivolous and unreasonable

Under our current liability insurance policy, certain expenses incurred by us in defending a claim, including attorney's fees,

are a part of our $50,000 self-insured retention, and a part of our limited partnerships’ $10,000 self-insured retention.

Our general policy is to

settle only those legitimate and reasonable claims asserted and to aggressively defend and go to trial, if necessary, on frivolous and

unreasonable claims.

Under our current liability insurance policy, certain expenses incurred by us in defending a claim, including attorney’s

fees, are a part of our $50,000 self-insured retention, and a part of our limited partnerships’ $10,000 self-insured retention.

In accordance with accounting

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December 30, 2024, our property insurance is a one (1) year policy with an unaffiliated third party insurance carrier, including coverage

for properties leased by us and our consolidated limited partnerships, and provides for full insurance coverage for property losses, including

those caused by windstorms, such as a hurricane.

For property losses caused by windstorm, the property insurance has a fixed deductible

of $100,000, plus 5% of all insured losses, per occurrence.

For all other property losses, the property insurance has deductibles of $10,000

per location, per occurrence.

We secured property insurance, including windstorm coverage, to be effective as of December 30, 2024.

Subsequent Events for a discussion of property insurance for the period commencing December 30, 2024.)

for properties leased by us and our consolidated limited partnerships, and provides for full insurance coverage for property losses,

including those caused by windstorms, such as a hurricane.

For property losses caused by windstorm, the property insurance has a fixed

deductible of $100,000, plus 5% of all insured losses, per occurrence.

For all other property losses, the property insurance has deductibles

of $10,000 per location, per occurrence.

Insurance Premiums

Due to continuing higher interest

rates, for the policy year commencing December 30, 2023 we paid the premiums for property, general liability, excess liability and terrorism

policies in full with premiums totaling approximately $3.92 million which includes coverage for our franchises (of approximately $850,000),

Due to continuing higher

interest rates, for the policy year commencing December 30, 2024 we paid the premiums for general liability, auto, property, excess liability

and terrorism policies totaling approximately $4.01 million, which includes coverage for our franchises (of approximately $911,000),

which are not included in our consolidated financial statements.

For the policy year commencing December 30, 2025, we will pay the premiums

for property, general liability, excess liability and terrorism policies in full again due to continuing higher interest rates.

Subsequent Events for a discussion of property, general liability, excess liability, and terrorism insurance policies for the

period commencing December 30, 2024.)

for general liability, auto, property, excess liability and terrorism policies in full again due to continuing higher interest rates.

Competition and the Company’s Market

The liquor and hospitality industries

are highly competitive and are often affected by changes in taste and entertainment trends among the public, by local, national and economic

conditions affecting spending habits, and by population and traffic patterns.

We believe that the principal means of competition among

package liquor stores is price and that, in general, the principal means of competition among restaurants include the location, type and

quality of facilities and the type, quality and price of beverage and food served.

Our package liquor stores compete

directly or indirectly with local retailers and discount “superstores”.

Due to the competitive nature of the liquor industry

in South Florida, we have had to adjust our pricing to stay competitive, including meeting all competitors’ advertisements subject

to certain limitations.

Such practices will continue in the package liquor business.

We believe that we have a competitive position in

our market because of widespread consumer recognition of the "Big Daddy's Liquors" and “Big Daddy’s Wine & Liquors”

The liquor and hospitality

industries are highly competitive and are often affected by changes in taste and entertainment trends among the public, by local, national

and economic conditions affecting spending habits, and by population and traffic patterns.

We believe that the principal means of competition

among package liquor stores is price and that, in general, the principal means of competition among restaurants include the location,

type and quality of facilities and the type, quality and price of beverage and food served.

Our package liquor stores

compete directly or indirectly with local retailers and discount “superstores”.

Due to the competitive nature of the liquor

industry in South Florida, we have had to adjust our pricing to stay competitive.

Such practices will continue in the package liquor

We believe that we have a competitive position in our market because of widespread consumer recognition of the “Big Daddy’s

Liquors” and “Big Daddy’s Wine & Liquors” names.

Our restaurants compete directly

or indirectly with many well-established competitors, both nationally and locally owned.

Effective August 25, 2024 we increased menu prices

for our bar offerings to target an increase to our bar revenues of approximately 5.63% annually to offset higher food and liquor costs

and higher overall expenses.

Effective March 26, 2023, we increased menu prices for our food offerings to target an increase to our food

revenues of approximately 2.06% annually and on March 20, 2023 we increased menu prices for our bar offerings to target an increase to

our bar revenues of approximately 5.65% annually to offset higher food and liquor costs and higher overall expenses.

We believe that we

have a competitive position in our market because of widespread consumer recognition of the “Flanigan’s Seafood Bar and Grill"

and “Flanigan’s” names.

During the second quarter of our fiscal year

2025, we increased our menu prices for our bar offerings (effective February 23, 2025) to target an increase to our bar revenues of approximately

0.84% annually to offset higher food and liquor costs and higher overall expenses.

During the first quarter of our fiscal year 2025,

we increased our menu prices for our bar offerings (effective December 4, 2024) to target an increase to our bar revenues of approximately

4.90% annually and we increased our menu prices for our food offerings (effective November 17, 2024) to target an increase to our food

revenues of approximately 4.14% annually to offset higher food and liquor costs and higher overall expenses.

During our fiscal year 2024,

we increased menu prices for our bar offerings (effective August 25, 2024) to target an increase to our bar revenues of approximately

5.63% annually to offset higher food and liquor costs and higher overall expenses.

Prior to these increases we previously raised menu

prices in the second quarter of our fiscal year 2023.

We believe that we have a competitive position in our market because of widespread

consumer recognition of the “Flanigan’s Seafood Bar and Grill” and “Flanigan’s” names.

We have many well-established

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for sites and finding management personnel.

Our business is subject to seasonal

effects, including that liquor purchases tend to increase during the holiday seasons.

Our business is subject to

seasonal effects, including that liquor purchases tend to increase during the holiday seasons.

We operate our package liquor

stores and restaurants under the service marks:

"Big Daddy's Liquors", “Big Daddy’s Wine & Liquors”, “Flanigan’s

Seafood Bar and Grill", and “Flanigan’s”.

We operate our sports bar under the service mark:

Our right to the use of the "Big Daddy's" service mark is set forth under a consent decree of a federal court

entered into by us in settlement of federal trademark litigation.

The consent decree and the settlement agreement allow us to continue

to use and to expand our use of the "Big Daddy's” service mark in connection with our package liquor sales in Florida, while

restricting future liquor sales in Florida under the "Big Daddy's" name by the other party who has a federally registered service

mark for "Big Daddy's" use in the restaurant business.

“Big Daddy’s Liquors”, “Big Daddy’s Wine & Liquors”,

“Flanigan’s Seafood Bar and Grill”, and “Flanigan’s”.

We operate our sports bar under the service

“Brendan’s Sports Pub”.

Our right to the use of the “Big Daddy’s” service mark is set forth

under a consent decree of a federal court entered into by us in settlement of federal trademark litigation.

The consent decree and the

settlement agreement allow us to continue to use and to expand our use of the “Big Daddy’s” service mark in connection

with our package liquor sales in Florida, while restricting future liquor sales in Florida under the “Big Daddy’s”

name by the other party who has a federally registered service mark for “Big Daddy’s” use in the restaurant business.

The federal court retained jurisdiction to enforce the consent decree.

We have acquired registered Federal trademarks on the principal register for our “Big Daddy’s Liquors”, "Flanigan's"

and “Flanigan’s Seafood Bar and Grill” service marks.

We have acquired registered Federal trademarks on the principal

Grill” service marks.

The standard symbolic trademark

associated with our facilities and operations is the bearded face and head of "Big Daddy" which is predominantly displayed at

all "Flanigan's" facilities and all "Big Daddy's" facilities throughout the country.

The face comprising this trademark

is that of the Company’s founder, Joseph "Big Daddy" Flanigan, and is a federally registered trademark owned by us.

associated with our facilities and operations is the bearded face and head of “Big Daddy” which is predominantly displayed

at all “Flanigan’s” facilities and all “Big Daddy’s” facilities throughout the country.

comprising this trademark is that of the Company’s founder, Joseph “Big Daddy” Flanigan, and is a federally registered

trademark owned by us.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business