Ufood Restaurant Grp (UFFCQ)

Description:

UFood Restaurant Group, Inc. was incorporated in the State of Nevada on February 8, 2006 as Axxent Media Corp. Prior to December 18, 2007; UFood was a development stage company. As Axxent Media Corp., the Company's business was to obtain reproduction and distribution rights to foreign films within North America and also to obtain the foreign rights to North American films for reproduction and distribution to foreign countries. On August 8, 2007, the Company changed its name to UFood Franchise Company, and on September 25, 2007, changed its name to UFood Restaurant Group, Inc. December 18, 2007, (Merger Date) pursuant to the terms of an Agreement and Plan of Merger and Reorganization, a wholly-owned subsidiary of the Company merged with and into KnowFat Franchise Company, Inc. (KnowFat). Following the merger (the Merger), UFood continued KnowFat's business operations as a franchisor and operator of fast-casual food service restaurants that capitalize on consumer demands for great tasting food with healthy attributes. At UFood Grill, it bakes grills or steams its menu offerings; it never fries its food. It serves whole-grain breads and side dishes and, where it could do so while still charging its customers a reasonable price, organic meats and vegetables (meeting U.S. Food and Drug Administration standards for organic). The food is served on ceramic plates with metal utensils and is either taken to the table by each guest or delivered to the table by a UFood server. Delivering great taste and an overall pleasing dining experience for an individual customer is the focus of UFood's mission and concept. The Company's menu contains a variety of food types, including hot entrees, burgers, salads, sandwiches, wraps, smoothies, and desserts, each of which is united in the theme that the food is 'better for you' than many other dining-out options. Each item is prepared with healthier alternatives in mind, whether an ingredient or a method of preparation, and has better nutritional qualities than the equivalent item a consumer might find at a typical quick serve establishment. It has registered the following trademarks with the United States Patents and Trademarks Office: 'Unfries' (pending), 'UFood Grill' (pending), 'Proccino' (pending), 'KnowFat! Lifestyle Grille,' 'KnowFat,' 'Prolatta,' and 'LoFat KnowFat'. The Company's restaurants are subject to licensing and regulation by state and local health, sanitation, safety, fire and other authorities, including licensing and permit requirements for the sale of food. The Company's business is subject to federal, state and local environmental laws and regulations concerning the discharge, storage, handling, release and disposal of hazardous or toxic substances.