Good evening and welcome to the RAVE Restaurant Group’s Second Quarter 2018 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there'll be an opportunity to ask questions. Please note that today’s event is being recorded. I would now like to turn the conference over to Tim Mullany, CFO. Please go ahead.

All right, thank you. Good afternoon and thank you for joining the RAVE Restaurant Group’s fiscal second quarter 2018 earnings conference call. Everyone should have access to our fiscal second quarter 2018 earnings release that was published yesterday. The press release can be found at www.raverg.com in the Investor Relations section. Before we begin, I would like to remind everyone that part of our discussions today will include forward-looking statements. These forward-looking statements are not guarantees of future performance and therefore you should not put undue reliance on them. These statements are also subject to numerous risks and uncertainties that could cause actual results to differ materially from what we expect. We refer all of you to our recent SEC filings for a more detailed discussion of the risks that could impact our future operating results and financial condition. Please note that today’s conference call we will discuss certain non-GAAP financial measures, which we believe to be useful evaluating our performance. Any discussion of such information should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of comparable GAAP measures is available in our earnings release. With that, I would like to turn it over to Scott Crane, Chief Executive Officer.

Good afternoon and thanks everyone for joining the call today. I am looking forward to sharing our second quarter results. RAVE brands are continuing to make significant process as we are executing on our plan of simplifying the RAVE business and this is resulting in improved net income and adjusted EBITDA. During this last quarter, we continue – we discontinued our Norco distribution division and contracted with third party suppliers and distributors of food, equipment and supplies. And this new approach to supply chain management has provided more transparency and efficiency for our franchisees while also allowing us the opportunity to streamline our G&A costs. Here at Slide 5 we've been focused on refranchising company on locations. And during this quarter, we refranchised 11 in the Dallas, Fort Worth market. This shift in our model allows us to work on great support of our franchisees, so that they in turn can provide best-in-class guest experiences. Both initiatives create a much more predictive model and improve the stability of the business. We believe the simplification will help us to become more profitable ongoing. As you see in our last 10-Q, we’re reporting an increase in adjusted EBITDA that was primarily driven by improvements from company-owned restaurants, reductions in corporate G&A and lower bad debt expenses. On a really exciting front, Pizza Inn continues to execute at high level as we saw our four straight quarter of positive same-store sales growth, domestic comparable sales increased 2.7% for the quarter compared to the same period last year. We continue to be pleased with the excitement of the new development increased remodeling of our core Pizza Inn buffet concept. However during the second fiscal quarter, the number of Pizza Inn domestic units declined to 156 from 159, but driven by lower volume non-buffet locations.…

All right, thanks, Scott. Total consolidated revenue decreased 38.1% to $4.2 million compared to $6.8 million in the second quarter of fiscal 2017. Year-to-date total consolidated revenues decreased 32.4% to $9.6 million compared to $14.2 million for the first half of fiscal 2017. Pizza Inn domestic retail sales decreased 3.3% and $2.1 million respectively for the three and six month periods ended December 24, 2017 compared to the same periods of the prior year. Pizza Inn domestic comparable store retail sales increased 2.7% and 2.2% respectively for the three and six month periods ended December 24, 2017 compared to the same periods of the prior year. Pie Five system-wide retail sales decreased 18.8% for the second quarter of fiscal 2018 when compared to the same period in the prior year primarily driven by a 15.5% decrease in average units open. Comparable store retail sales decreased by 13.7% for the most recent fiscal quarter compared to the same period in the prior year. Year-to-date, Pie Five system-wide retail sales decreased 18% compared to the same period in the prior year, primarily driven by a 10.8% decrease in average units open. Comparable store retail sales decreased by 15.5% during the first six months of fiscal 2018 compared to the same period of the prior year. For the three and six month periods ended December 24, 2017, the company reported a net loss of $0.6 million and $0.9 million respectively compared to a loss of $7.9 million and $9.4 million for the same periods of the prior year primarily due to closures of underperforming Company Pie Five units, lower closed store expenses, increased gains from sale of assets, lower impairment expenses, lower lease termination expenses, and reductions to G&A expenses. On a fully diluted basis, the loss was $0.04 per share and $0.07…

This concludes our question-and-answer session. The conference has now also concluded. Thank you for attending today's presentation. You may now disconnect.