Note 9 - Subsequent Events

3 Months Ended

Feb. 29, 2020

Notes to Financial Statements

Subsequent Events [Text Block]

9

.

Subsequent Events

In recent weeks, the COVID-

19

outbreak in the United States has resulted in reduced customer traffic for our franchisees, resulting in reduced royalty revenue and ultimately reduced nontraditional revenues. The disruption in customer traffic is temporary but, at this time there is uncertainty in the duration.

In order to support our franchisees during this difficult time, the Company has waived marketing fees for

March 16, 2020

through

May 6, 2020.

We have provided as much information on the CARES stimulus package as we have available to our franchisees and encouraged them to apply for the Payroll Protection Program loan included in the CARE stimulus package. We are also in the process of applying for funds under the Payroll Protection Program. We will continue to evaluate the effects of the COVID-

19

outbreak on our operations.

The Company expects the Coronavirus Pandemic to negatively impact its operating results, however at this time the financial impact cannot be reasonably estimated.