Taglich Brothers Initiates Coverage on Noble Roman`s Inc. with Speculative Buy Recommendation -Video Research Alert on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - January 6, 2014) - Taglich Brothers has initiated coverage on Noble Roman`s Inc. (OTCQB: NROM). Analyst Howard Halpern gives the company a speculative buy rating, and a 12 month price target of $3.15, a premium of 77% to the $1.78 price the day the report was issued.

InvestmentPitch.com has produced a "video research alert" about Noble Roman's based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Noble" in the search box.

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Noble Roman's, headquartered in Indianapolis, Indiana, currently licenses and franchises its Noble Roman's Pizza and Tuscano's Italian Style Subs in the US via the take-n-bake pizza, whereby customers purchase uncooked pizzas, taking them home to bake.

The design of the company's take-n-bake pizza concept is as a fresh, not frozen, product which is licensed to grocery stores, and sold under franchise agreements at stand-alone and convenience stores.

With Tuscano's, the company focuses on sub sandwich menus which are normally awarded to facilities that already operate pizza franchises. The company introduced this grab-n-go service in order to expand opportunities at existing non-traditional or stand-alone sub locations.

In November, Paul Mobley, Chairman and CEO stated, "We have built a profitable platform for growth, benefitting from the increasing popularity of the take-n-bake concept."

Taglich estimates a cumulative total of at least 65 stand-alone take-n-bake franchise locations by December 31, 2014.

One-time franchise signing fees are $18,000 per location or an estimated cumulative total of nearly $1.2 million. Once an individual location is fully operational, it should generate at least $48,000 and upwards of $72,000 in royalty revenue to the company.

CHD Expert, a consulting firm that conducts research on global away-from-home food trends, estimates US pizza marketplace sales of $46 billion per year, of which quick-service restaurants are an estimated $33 billion.

Analyst Howard Halpern stated, "With an estimated 35 additional take-n-bake locations signed in 2014, we project net income of $3.1 million or $0.15 per share on revenue growth of 20% to $10.2 million."

The company currently trades at $1.91, well below the $3.15 target price, and with 19.6 million shares outstanding, the company is capitalized at $37.4 million.

For more information please visit the company's website www.nobleromans.com or contact Paul Mobley at 317-634-3377. Investor relations is handled by Brett Maas of Hayden IR, who can be reached at 646-536-7331 or by email at brett@haydenir.com.

For more information about Taglich Brothers or to obtain a copy of their extensive research report, please visit the company's website www.taglichbrothers.com or call 631-757-1500.

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