For more information, please visit www.yoshiharuramen.com. Forward Looking Statements This press release includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding our position to execute on our growth strategy, and our ability to expand our leadership position. These forward-looking statements include, but are not limited to, the Company's beliefs, plans, goals, objectives, expectations, assump ...

Part I [Business](index=7&type=section&id=Item%201.%20Business) Yoshiharu Global Co. is a fast-growing Japanese restaurant operator specializing in ramen, with ten operating restaurants in Southern California as of year-end 2024, plus several new locations under development or recently acquired - As of the report date, the company **operates ten restaurants**, has **three new stores under construction/development**, and recently **acquired three existing restaurants** in Las Vegas, which are expected to be integrated in the second quarter of 2024[19](index=19&type=chunk) - The company's core product is its signature ramen, featuring a rich bone broth boiled for over twelve hours, aiming to provide a high-quality, healthy, and affordable Japanese dining experience[20](index=20&type=chunk)[21](index=21&type=chunk) - The company's **Average Unit Volume (AUV) was $1.0 million in 2024**, a decrease from $1.1 million in 2023[31](index=31&type=chunk) - Growth strategies include pursuing new restaurant development with a target of **over 100% annual unit growth**, delivering consistent comparable restaurant sales growth, increasing profitability through scale, and heightening brand awareness via marketing and potential retail partnerships[33](index=33&type=chunk)[34](index=34&type=chunk)[35](index=35&type=chunk)[36](index=36&type=chunk) - The company utilizes Toast, Inc. for its point of sale, online ordering, delivery, marketing, and payroll management systems to streamline operations[64](index=64&type=chunk) [Risk Factors](index=18&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks, including a history of operating losses, reliance on future capital, a potential Nasdaq delisting, and heavy geographic concentration in California - The company incurred a **net loss of $2.7 million in 2024** and $3.0 million in 2023, and must raise additional capital to sustain operations[85](index=85&type=chunk) - The company received a **delisting notice from Nasdaq** for failing to meet the minimum $2.5 million stockholders' equity requirement; an appeal hearing is scheduled for April 1, 2025, but a delisting could severely impair the ability to raise capital[89](index=89&type=chunk)[176](index=176&type=chunk) - The business is **geographically concentrated in California**, making it vulnerable to local economic, regulatory, and weather conditions; the state's minimum wage was $16.00 per hour as of January 1, 2024, which increases labor costs[94](index=94&type=chunk)[142](index=142&type=chunk) - The company's growth strategy, which involves opening new restaurants, is subject to risks such as site availability, construction permit delays, and competition; the **estimated build-out cost per new restaurant is $350,000-$550,000**[91](index=91&type=chunk)[102](index=102&type=chunk) - The company has received unsecured, on-demand borrowings from its CEO, James Chae, and his affiliate; the **outstanding balance was $732,710** as of December 31, 2024[128](index=128&type=chunk) - As a **'controlled company'** due to CEO James Chae's majority voting power, it is exempt from certain Nasdaq corporate governance requirements, such as having a majority-independent board[281](index=281&type=chunk) [Unresolved Staff Comments](index=37&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) The company reports that it has no unresolved staff comments - Not applicable[181](index=181&type=chunk) [Cybersecurity](index=37&type=section&id=Item%201C.%20Cybersecurity) The company manages cybersecurity risks through an information security program overseen by the Audit Committee, with no material incidents reported to date - The company has an information security program designed to manage cybersecurity risks, utilizing various security tools[182](index=182&type=chunk) - The Board's **Audit Committee oversees the cybersecurity risk management program**, receiving periodic reports from management[185](index=185&type=chunk)[186](index=186&type=chunk) - As of the date of this report, the company is **not aware of any materially adverse cybersecurity incidents**[184](index=184&type=chunk) [Properties](index=37&type=section&id=Item%202.%20Properties) The company's executive offices are located in Buena Park, CA, and all restaurant and corporate office properties are leased - The company's executive offices are located at 6940 Beach Blvd, Suite D-705, Buena Park, CA 90621[189](index=189&type=chunk) - A comprehensive description of the company's principal physical properties (leased restaurant locations) is available under "Item 1 Business—Properties"[189](index=189&type=chunk) [Legal Proceedings](index=37&type=section&id=Item%203.%20Legal%20Proceedings) The company reports that there is no litigation currently pending or contemplated against it, its officers, or directors that would have a material impact - To the knowledge of management, there is **no litigation currently pending or contemplated** against the company or its officers and directors[190](index=190&type=chunk) [Mine Safety Disclosures](index=37&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[191](index=191&type=chunk) Part II [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities](index=38&type=section&id=Item%205.%20Market%20for%20Registrant's%20Ordinary%20Shares%2C%20Related%20Shareholder%20Matters%20and%20Issuer%20Purchases%20of%20Equity%20Securities) The company's Class A Common Stock trades on Nasdaq under "YOSH", no cash dividends have been paid, and recent private placements were conducted to raise capital - The company's Class A Common Stock is traded on the Nasdaq Capital Market under the symbol **"YOSH"**[192](index=192&type=chunk) - The company **has not paid any cash dividends** and future dividend decisions will be at the discretion of the board of directors[194](index=194&type=chunk) - In March 2025, the company entered into several private placements, selling shares and warrants to raise capital, including selling **285,600 shares for $714,000** and **480,000 warrants for $1,200,000**[196](index=196&type=chunk)[197](index=197&type=chunk) [[Reserved]](index=39&type=section&id=Item%206.%20%5BReserved%5D) This item is reserved [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=39&type=section&id=Item%207.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Revenue increased 39.3% to $12.9 million due to new restaurant sales, though the company reported a $2.7 million net loss and faces significant liquidity concerns Results of Operations (Years ended December 31) | | 2024 | 2023 | Change ($) | Change (%) | |:---|---:|---:|---:|---:| | **Revenue** | **$12,839,137** | **$9,214,779** | **$3,624,358** | **39.3%** | | Total restaurant operating expenses | $11,322,662 | $8,850,385 | $2,472,277 | 27.9% | | Net restaurant operating income | $1,516,475 | $364,394 | $1,152,081 | 316.2% | | General and administrative | $3,831,676 | $3,419,036 | $412,640 | 12.1% | | Loss from operations | ($2,555,029) | ($3,515,254) | $960,225 | -27.3% | | **Net loss** | **($2,665,869)** | **($3,040,364)** | **$374,495** | **-12.3%** | - **Revenue increased by $3.6 million (39.3%)** in 2024, primarily driven by $3.5 million in sales from the acquisition of three Las Vegas restaurants and $1.0 million from two new restaurants, offset by a $0.8 million decrease at other locations[223](index=223&type=chunk) - Labor costs increased by 14.2% to $4.8 million due to new and acquired restaurants, but decreased as a percentage of sales due to lower relative labor costs in Las Vegas[225](index=225&type=chunk) - General and administrative expenses increased by 12.1% to $3.8 million due to acquisitions, new hires, and costs to support growth, but decreased as a percentage of sales from 37.1% to 29.7% due to cost control efforts[229](index=229&type=chunk) Summary of Cash Flows (Years ended December 31) | | 2024 | 2023 | |:---|---:|---:| | Net cash provided by (used in) operating activities | $875,224 | ($4,591,656) | | Net cash used in investing activities | ($2,561,527) | ($1,471,151) | | Net cash provided by financing activities | $1,465,013 | $1,386,347 | - The company has entered into multiple agreements in early 2025 to raise capital, including an **equity purchase agreement for up to $10 million** and several private placements for shares and warrants[234](index=234&type=chunk)[235](index=235&type=chunk)[236](index=236&type=chunk)[237](index=237&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=49&type=section&id=Item%207A.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Yoshiharu Global Co is not required to provide the information for this item - The company is a smaller reporting company and is **not required to provide the information** under this item[254](index=254&type=chunk) [Financial Statements and Supplementary Data](index=49&type=section&id=Item%208.%20Financial%20Statements%20and%20Supplementary%20Data) The company's audited financial statements and supplementary data are incorporated by reference and begin on page F-1 of the report - The required financial statements and supplementary data are located **starting on page F-1** of the Form 10-K[255](index=255&type=chunk) [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure](index=49&type=section&id=Item%209.%20Changes%20in%20and%20Disagreements%20with%20Accountants%20on%20Accounting%20and%20Financial%20Disclosure) The company reports no changes in or disagreements with its accountants on accounting and financial disclosure - **None reported**[256](index=256&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%209A.%20Controls%20and%20Procedures) Management has concluded that the company's disclosure controls and procedures were ineffective as of December 31, 2024, due to material weaknesses from its small size - Management concluded that as of December 31, 2024, the company's **disclosure controls and procedures were ineffective**[257](index=257&type=chunk) - **Material weaknesses were identified** related to inadequate accounting resources and a lack of segregation of duties, attributed to the small size of the accounting staff[258](index=258&type=chunk) - Management believes that despite the material weaknesses, the financial statements for the year ended December 31, 2024, are **fairly stated in all material respects** in accordance with GAAP[260](index=260&type=chunk) [Other Information](index=50&type=section&id=Item%209B.%20Other%20Information) During the fourth quarter of 2024, no director or officer adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement - **No director or officer adopted or terminated a Rule 10b5-1 trading plan** or other non-Rule 10b5-1 trading arrangement in the last quarter of 2024[266](index=266&type=chunk) [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections](index=50&type=section&id=Item%209C.%20Disclosure%20Regarding%20Foreign%20Jurisdictions%20that%20Prevent%20Inspections) This item is not applicable to the company - Not applicable[267](index=267&type=chunk) Part III [Directors, Executive Officers and Corporate Governance](index=50&type=section&id=Item%2010.%20Directors%2C%20Executive%20Officers%20and%20Corporate%20Governance) As a "controlled company" led by CEO James Chae, Yoshiharu is exempt from certain Nasdaq governance rules and currently lacks a majority-independent board - The company is a **"controlled company"** under Nasdaq rules because CEO James Chae controls a majority of the voting power, exempting it from requirements like having a majority-independent board or a nominating committee[281](index=281&type=chunk) - Following the resignation of a director in February 2025, the company **no longer has a majority independent board of directors**[284](index=284&type=chunk) - The Audit Committee consists of two independent directors, both of whom qualify as "audit committee financial experts," but is **temporarily below the required three members**[292](index=292&type=chunk)[294](index=294&type=chunk)[284](index=284&type=chunk) - The positions of Chairman of the Board and Chief Executive Officer are **both held by James Chae**[306](index=306&type=chunk) [Executive Compensation](index=57&type=section&id=Item%2011.%20Executive%20Compensation) Executive compensation includes base salary and bonuses, with no equity awards outstanding for named executive officers at year-end 2024 Summary Compensation Table – Officers (2024 & 2023) | Name and Principal Position | Year | Salary ($) | Bonus ($) | Total ($) | |:---|---:|---:|---:|---:| | James Chae, CEO | 2024 | 140,000 | 0 | 140,000 | | Soojae Ryan Cho, CFO | 2024 | 120,000 | 0 | 120,000 | | James Chae, CEO | 2023 | 285,000 | 55,000 | 340,000 | | Soojae Ryan Cho, CFO | 2023 | 144,000 | 0 | 144,000 | - As of December 31, 2024, there were **no outstanding equity awards** for any of the Named Executive Officers (NEOs)[324](index=324&type=chunk) - The company adopted the 2022 Omnibus Equity Incentive Plan, authorizing up to **1,500,000 shares of Class A common stock** for various types of awards to employees, directors, and consultants[327](index=327&type=chunk)[332](index=332&type=chunk) [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters](index=65&type=section&id=Item%2012.%20Security%20Ownership%20of%20Certain%20Beneficial%20Owners%20and%20Management%20and%20Related%20Shareholder%20Matters) Founder and CEO James Chae controls 69.34% of the total voting power through his ownership of Class A and super-voting Class B common stock Beneficial Ownership as of March 20, 2025 | Name of Beneficial Owner | Class A Shares Beneficially Owned | Percent of Class A | Class B Shares Beneficially Owned | Percent of Class B | Percent of Total Voting Power | |:---|---:|---:|---:|---:|---:| | James Chae | 617,100 | 46.32% | 100,000 | 100.00% | 69.34% | | All NEOs and Directors as a Group (5 persons) | 632,000 | 47.44% | 100,000 | 100.00% | 69.98% | - **Class B Common Stock has 10 votes per share**, while Class A Common Stock has one vote per share, giving James Chae majority voting control[359](index=359&type=chunk) [Certain Relationships and Related Transactions, and Director Independence](index=66&type=section&id=Item%2013.%20Certain%20Relationships%20and%20Related%20Transactions%2C%20and%20Director%20Independence) The company has several related party transactions, primarily involving loans and formation contributions with its founder and CEO, James Chae - The company was formed through a series of transactions where founder James Chae contributed his existing restaurant entities and intellectual property in exchange for Class A and Class B stock, resulting in his control of the company[360](index=360&type=chunk)[361](index=361&type=chunk) - The company has borrowed money from CEO James Chae on a non-interest bearing, due-on-demand basis; the **outstanding balance was $732,710** as of December 31, 2024, up from $24,176 in 2023[363](index=363&type=chunk) - The company has a **loan receivable of $100,300** from Won Zo Whittier, an entity 100% owned by James Chae; the loan is non-interest bearing with a 5-year term[363](index=363&type=chunk) [Principal Accountant Fees and Services](index=67&type=section&id=Item%2014.%20Principal%20Accountant%20Fees%20and%20Services) Total fees billed by auditors were $323,750 in 2024, with all audit and permitted non-audit services pre-approved by the Audit Committee Accountant Fees (Fiscal Years) | Fee Type | 2024 | 2023 | |:---|---:|---:| | Audit fees | $323,750 | $248,000 | | Audit related fees | $0 | $0 | | Tax fees | $0 | $12,000 | | All other fees | $0 | $104,000 | | **Total fees** | **$323,750** | **$364,000** | - The company's Audit Committee **pre-approves all audit and permitted non-audit services** provided by the independent registered public accounting firm[369](index=369&type=chunk) Part IV [Exhibits and Financial Statement Schedules](index=69&type=section&id=Item%2015.%20Exhibits%20and%20Financial%20Statement%20Schedules) This section lists the financial statements, schedules, and exhibits filed as part of the Form 10-K report - This item lists all documents filed as part of the report, including financial statements and various exhibits such as the certificate of incorporation, bylaws, and material contracts[371](index=371&type=chunk)[373](index=373&type=chunk) [Form 10-K Summary](index=69&type=section&id=Item%2016.%20Form%2010-K%20Summary) This item is not applicable - Not applicable[374](index=374&type=chunk) Financial Statements and Supplementary Data [Consolidated Financial Statements](index=70&type=section&id=Consolidated%20Financial%20Statements) Acquisitions and financing activities grew total assets to $17.6 million, while a net loss of $2.7 million caused stockholders' equity to fall to $255,399 Consolidated Balance Sheet Highlights (as of December 31) | | 2024 | 2023 | |:---|---:|---:| | Total Current Assets | $1,464,568 | $1,535,349 | | Total Assets | $17,573,266 | $13,019,364 | | Total Current Liabilities | $6,041,089 | $3,269,060 | | Total Liabilities | $17,317,867 | $10,365,885 | | Total Stockholders' Equity | $255,399 | $2,653,479 | Consolidated Statement of Operations Highlights (Years ended December 31) | | 2024 | 2023 | |:---|---:|---:| | Total Revenue | $12,839,137 | $9,214,779 | | Loss from Operations | ($2,555,029) | ($3,515,254) | | Net Loss | ($2,665,869) | ($3,040,364) | | Basic and Diluted Loss Per Share | ($1.98) | ($2.29) | [Notes to Consolidated Financial Statements](index=76&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Key financial events include a 1-for-10 reverse stock split, a $3.6 million restaurant acquisition, and significant financing activities in early 2025 to address liquidity - A **1-for-10 reverse stock split** of both Class A and Class B common stock became effective on November 27, 2023[394](index=394&type=chunk) - On April 20, 2024, the company **acquired assets of three Las Vegas restaurants for a total purchase price of $3.6 million**, funded by $1.8 million in cash, a $600,000 promissory note, and a $1.2 million convertible note[399](index=399&type=chunk)[418](index=418&type=chunk)[419](index=419&type=chunk) - The Las Vegas acquisition resulted in the recording of **$1,985,645 in Goodwill** and $531,051 in intangible assets (Brand & non-compete)[419](index=419&type=chunk)[421](index=421&type=chunk) - As of Dec 31, 2024, the company had total **bank notes payable of $3.1 million** and EIDL loans payable of $415,414[428](index=428&type=chunk)[459](index=459&type=chunk) - Subsequent to year-end, in January 2025, the company entered into a **$10 million equity line of credit (ELOC)** agreement and in March 2025, conducted several private placements of stock and warrants to raise capital[504](index=504&type=chunk)[505](index=505&type=chunk)[506](index=506&type=chunk)

Core Viewpoint - Yoshiharu Global Co. has strengthened its balance sheet by converting $2.5 million in debt to equity and securing additional financing commitments of $1.65 million, which has improved its compliance with Nasdaq listing requirements [1][2][5]. Financial Position - The company entered into securities subscription agreements for 660,000 warrants totaling $1.65 million [2]. - The conversion of $2.5 million in debt has reduced total debt and cash needs, enhancing stockholders' equity [2][5]. - Specific loans canceled include $1.1 million with BS1Fund, $700,000 with Golden Bridge, and $700,000 with CEO James Chae, all in exchange for warrants at an exercise price of $0.01 [3][4]. Growth Strategy - The recent capital commitments of $1.9 million position the company above the minimum stockholders' equity requirement of $2.5 million for continued Nasdaq listing [5]. - The company views this capital increase as a foundation for future growth opportunities and aims to execute its strategy effectively [5]. Company Overview - Yoshiharu Global Co. specializes in authentic Japanese ramen and has expanded to operate 15 restaurants across Southern California and Las Vegas since its debut in 2016 [6].

Conversion of Existing $2.5 Million in Debt to Equity and Additional Financing Commitments of $1.65 Million Strengthens Balance Sheet and Lowers Near-Term Cash Needs BUENA PARK, Calif., March 26, 2025 (GLOBE NEWSWIRE) -- Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or the "Company"), a restaurant operator specializing in authentic Japanese ramen & rolls, today announced that it entered into additional financing commitments with certain investors for $1.65 million and, as a result of such financing trans ...

Company Overview - Yoshiharu Global Co. is a restaurant operator specializing in authentic Japanese ramen and rolls, recognized as a leading ramen restaurant in Southern California since its debut in 2016 [4] - The company currently operates 15 restaurants across Southern California and Las Vegas [4] Appointment of Board Member - Sungjoon Chae has been appointed to the Board of Directors effective March 17, 2025, bringing extensive experience in architecture and urban design [1][2] - Mr. Chae is the CEO of Grundot and has previously worked with renowned architectural firms, contributing to high-profile projects globally [2] - His expertise in merging aesthetics with functionality is expected to support the company's expansion efforts [3] Strategic Vision - The President and CEO of Yoshiharu, James Chae, emphasized that Mr. Chae's design and business experience will be invaluable for driving expansion in both the company's footprint and cuisine offerings [3]

Company Secures Financing Commitments of $1.9 Million From Multiple Parties New Capital Positions Yoshiharu to Achieve Stockholders’ Equity Minimum Ahead of Nasdaq Hearing on April 1, 2025 BUENA PARK, Calif., March 20, 2025 (GLOBE NEWSWIRE) -- Yoshiharu Global Co. (NASDAQ: YOSH) ("Yoshiharu" or the "Company"), a restaurant operator specializing in authentic Japanese ramen & rolls, today provided an update regarding the notice of delisting from Nasdaq and its stockholders’ equity. On February 18, 2025, the C ...

Core Insights - Yoshiharu Global Co. has opened its 15th restaurant location in Menifee, California, with one additional location under development in Ontario, CA [1][3][4] - The new Menifee location is strategically situated in a rapidly growing city that has invested over $100 million in traffic and infrastructure improvements [2] - The company aims to expand its presence through corporate-owned restaurants and a franchise program to accelerate national and international growth [3][4] Company Overview - Yoshiharu specializes in authentic Japanese ramen and has gained recognition as a leading ramen restaurant in Southern California since its debut in 2016 [4] - The company currently operates 15 restaurants across Southern California and Las Vegas [4]

Core Points - Yoshiharu Global Co. has received a notice of delisting from Nasdaq due to non-compliance with Listing Rule 5550(b)(1) which requires a minimum stockholders' equity of $2,500,000 [2][3] - The company was previously notified of its non-compliance on August 23, 2024, and was given until February 17, 2025, to regain compliance, which it failed to do [3] - Yoshiharu intends to appeal the delisting decision and has until February 25, 2025, to request a hearing [4] Company Overview - Yoshiharu Global Co. specializes in authentic Japanese ramen and rolls, and has expanded to operate 14 restaurants in Southern California and Las Vegas since its debut in 2016 [5]

Financing and Securities Purchase Agreement - The company entered into a securities purchase agreement with Crom Structured Opportunities Fund I, LP, issuing a senior unsecured convertible promissory note with an original principal amount of $1.1 million [2] - The company also established an equity line of credit (ELOC) with the same investor, allowing the company to issue and sell up to $10.0 million in shares of its common stock [2] - The conversion price for the note is set at the lesser of $5.00 or 90% of the lowest dollar volume weighted average price during the five trading days preceding the conversion date [3] - The company agreed to pay the investor a commitment fee of 31,948 shares of Class A Common Stock for entering into the purchase agreement [4] - The note was issued at a 10% original issue discount (OID), with a purchase price of $1,000,000 for the $1,100,000 principal amount, and carries a one-time interest charge of 5% [5] - The ELOC allows the company to issue and sell shares at 93% of the lowest VWAP during the five trading days following the clearing date of the respective advance shares [6] Use of Proceeds and Corporate Strategy - The company intends to use the net proceeds from the note and ELOC for working capital and general corporate purposes to support future growth [1] - The financing provides additional operating liquidity and financial flexibility to support the company's U.S. and international expansion plans [2] Company Overview - Yoshiharu Global Co. is a fast-growing restaurant operator specializing in authentic Japanese ramen and rolls [10] - The company has gained recognition as a leading ramen restaurant in Southern California and currently owns and operates 14 restaurants across Southern California and Las Vegas [10] Regulatory and Disclosure Information - The company agreed to file a registration statement with the SEC covering the resale of all Class A Common Stock that the investor may acquire [1] - Further details on the securities purchase agreement will be disclosed in a Current Report on Form 8-K to be filed with the SEC on January 13, 2025 [7]

Core Insights - Yoshiharu Global Co. reported a significant revenue increase of 49% in Q3 2024, reaching $3.0 million compared to $2.0 million in the same period last year, driven by new restaurant openings and acquisitions [8][10] - The company is expanding its international presence through strategic partnerships in China and plans to enter the growing Korean BBQ segment, which is expected to complement its existing ramen business [2][6] Financial Performance - For the first nine months of 2024, revenues increased by 36.3% to $9.2 million, up from $6.7 million in the prior year [10] - Restaurant-level contribution margin improved to 11.0% from 8.1% in the previous year, indicating better cost management alongside revenue growth [10] - Operating loss for Q3 2024 was $1.0 million, an increase from a loss of $0.8 million in the prior year, primarily due to higher general and administrative expenses related to acquisitions [9][12] Operational Highlights - The company opened its 15th restaurant in San Clemente, CA, with two additional locations under construction, expected to open in December 2024 and January 2025 [2][7] - Partnerships with Chengdu Octaday Entertainment Group and Xing Sheng Group aim to establish flagship restaurants in Sichuan and Liaoning provinces in China, targeting a combined population of over 126 million [5][6] - The company plans to leverage a $1.0 million investment to expand into the Korean BBQ segment, capitalizing on synergies with its ramen offerings [6][7] Strategic Initiatives - The company is focusing on optimizing operating expenses while maintaining strong average unit volumes despite challenges from rising input costs and consumer price sensitivity [3][4] - Future growth strategies include the addition of kiosks and the use of cooking robots to reduce labor costs, aiming for profitability in the near term [7]