The following chart presents the specific line items impacted by the cumulative adjustment to opening retained earnings:

(In thousands, except share amounts)	As Reported June 24, 2018			Total Adjustment			Adjusted Balance Sheet June 25, 2018

ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	1,386		$	-		$	1,386
Accounts receivable, less allowance for bad debts of $158		1,518			-			1,518
Other receivable		300			-			300
Notes receivable		712			-			712
Inventories		6			-			6
Income tax receivable		5			-			5
Property held for sale		539			-			539
Deferred contract charges		-			10			10
Prepaid expenses and other		273			-			273
Total current assets		4,739			10			4,749

LONG-TERM ASSETS
Property, plant and equipment, net		1,510			-			1,510
Intangible assets definite-lived, net		212			-			212
Long-term notes receivable		803			-			803
Deferred tax asset, net		3,479			-			3,479
Long term deferred contract charges		-			182			182
Deposits and other		243			-			243
Total assets	$	10,986		$	192		$	11,178

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable - trade	$	421		$	-		$	421
Accounts payable - lease termination impairments		353			-			353
Accrued expenses		1,109			(4	)		1,105
Deferred rent		32			-			32
Deferred revenues		65			243			308
Total current liabilities		1,980			239			2,219

LONG-TERM LIABILITIES
Convertible notes		1,562			-			1,562
Deferred rent, net of current portion		433			-			433
Deferred revenues, net of current portion		670			1,575			2,245
Other long-term liabilities		42			-			42
Total liabilities		4,687			1,814			6,501

COMMITMENTS AND CONTINGENCIES (SEE NOTE 3)

SHAREHOLDERS' EQUITY
Common stock, $.01 par value; authorized 26,000,000 shares; issued 22,166,674 shares outstanding 15,047,470 shares		222			-			222
Additional paid-in capital		33,206			-			33,206
Accumulated deficit		(2,493	)		(1,622	)		(4,115	)
Treasury stock at cost
Shares in treasury: 7,119,204		(24,636	)		-			(24,636	)
Total shareholders' equity		6,299			(1,622	)		4,677

Total liabilities and shareholders' equity	$	10,986		$	192		$	11,178

The following charts present the specific line items impacted by the application of Topic 606 in fiscal 2019.

(In thousands, except share amounts)	As Reported June 30, 2019			Total Adjustment			Balance Sheet Without Adoption of Topic 606
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	2,264		$	-		$	2,264
Accounts receivable, less allowance for bad debts of $209		1,191			-			1,191
Other receivable		-			-			-
Notes receivable, less allowance of bad debt of $916		389			-			389
Inventories		7			-			7
Income tax receivable		4			-			4
Property held for sale		231			-			231
Deferred contract charges		38			(38	)		-
Prepaid expenses and other		346			-			346
Total current assets		4,470			(38	)		4,432

LONG-TERM ASSETS
Property, plant and equipment, net		500			-			500
Intangible assets definite-lived, net		196			-			196
Long-term notes receivable		735			-			735
Deferred tax asset, net		4,060			-			4,060
Long term deferred contract charges		232			(232	)		-
Deposits and other		233			-			233
Total assets	$	10,426		$	(270	)	$	10,156

LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Accounts payable - trade	$	400		$	-		$	400
Accounts payable - lease termination impairments		832			-			832
Accrued expenses		834			4			838
Deferred rent		37			-			37
Deferred revenues		275			(275	)		-
Total current liabilities		2,378			(271	)		2,107

LONG-TERM LIABILITIES
Convertible notes		1,584			-			1,584
Deferred rent, net of current portion		397			-			397
Deferred revenues, net of current portion		1,561			(1,124	)		437
Other long-term liabilities		72			-			72
Total liabilities		5,992			(1,395	)		4,597

COMMITMENTS AND CONTINGENCIES (SEE NOTE 3)

SHAREHOLDERS' EQUITY
Common stock, $.01 par value; authorized 26,000,000 shares; issued 22,208,141 outstanding 15,090,837		222			-			222
Additional paid-in capital		33,327			-			33,327
Accumulated deficit		(4,483	)		1,125			(3,358	)
Treasury stock at cost
Shares in treasury: 7,117,304		(24,632	)		-			(24,632	)
Total shareholders' equity		4,434			1,125			5,559

Total liabilities and shareholders' equity	$	10,426		$	(270	)	$	10,156

	As Reported Fiscal Year Ended June 30, 2019			Total Adjustments			Income Statement Without Adoption of Topic 606

REVENUES:	$	12,319		$	(1,398	)	$	10,921

COSTS AND EXPENSES:
Cost of sales		1,120			-			1,120
General and administrative expenses		5,274			-			5,274
Franchise expenses		3,778			(901	)		2,877
Gain on sale of assets		(551	)		-			(551	)
Impairment of long-lived assets and other lease charges		1,664			-			1,664
Bad debt		1,265			-			1,265
Interest expense		104			-			104
Depreciation and amortization expense		466			-			466
Total costs and expenses		13,120			(901	)		12,219

LOSS FROM CONTINUING OPERATIONS BEFORE TAXES		(801	)		(497	)		(1,298	)
Income tax benefit		(51	)		-			(51	)
LOSS FROM CONTINUING OPERATIONS		(750	)		(497	)		(1,247	)

Loss from discontinued operations, net of taxes		-			-			-
NET LOSS	$	(750	)	$	(497	)	$	(1,247	)

INCOME PER SHARE OF COMMON STOCK - BASIC:
Loss from continuing operations	$	(0.05	)	$	(0.03	)	$	(0.08	)
Loss from discontinued operations		-			-			-
Net loss	$	(0.05	)	$	(0.03	)	$	(0.08	)

INCOME PER SHARE OF COMMON STOCK - DILUTED:

Loss from continuing operations	$	(0.05	)	$	(0.03	)	$	(0.08	)
Loss from discontinued operations		-			-			-
Net loss	$	(0.05	)	$	(0.03	)	$	(0.08	)

Weighted average common shares outstanding - basic		15,070			15,070			15,070

Weighted average common and potential dilutive common shares outstanding		15,070			15,070			15,070