United States
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 10-Q


(Mark One)

  X   Quarterly report pursuant to Section 13 or 15(d) of the Securities
 ---  Exchange Act of 1934 For the quarterly period ended September 30, 2003

                                       Or

       Transition report pursuant to Section 13 or 15(d) of the Securities
 ---   Exchange Act of 1934 For the transition period from         to
                                                           -------    -------

                         Commission file number: 0-11104


                               NOBLE ROMAN'S, INC.
             (Exact name of registrant as specified in its charter)


         Indiana                                            35-1281154
(State or other jurisdiction                             (I.R.S. Employer
     of organization)                                   Identification No.)

     One Virginia Avenue, Suite 800
           Indianapolis, Indiana                                46204
(Address of principal executive offices)                      (Zip Code)

                                 (317) 634-3377
              (Registrant's telephone number, including area code)


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                               Yes  X   No
                                   ---     ---

As of November 7, 2003, there were 16,166,158 shares of Common Stock, no par
value, outstanding.

<PAGE>

                         PART I - FINANCIAL INFORMATION

ITEM 1.  Financial Statements

          The following condensed consolidated financial statements are included
          herein:

             Notes to condensed consolidated financial statements        Page 2

             Condensed consolidated balance sheets as of December 31,
                 2002 and September 30, 2003                             Page 3

             Condensed consolidated statements of operations for the
                 three months and nine months ended September 30, 2002
                 and 2003                                                Page 4

             Condensed consolidated statements of cash flows for the
                 nine months ended September 30, 2002 and 2003           Page 5

The interim condensed consolidated financial statements included herein reflect
all adjustments which are, in the opinion of management, necessary for a fair
statement of the results of operations for the interim periods presented and the
balance sheets for the dates indicated, which adjustments are of a normal
recurring nature.

Notes
-----

Based on the Company's 2000, 2001 and 2002 operating results, its business plan,
the number of franchise units now open, the backlog of units sold to be opened,
the backlog of franchise prospects now in ongoing discussions and negotiations,
the Company's trends and the results of its operations thus far in 2003,
management has determined that it is more likely than not that the Company's
deferred tax credits will be fully utilized before the tax credits expire, the
majority of which expire between 2012 and 2016. Therefore, no valuation
allowance was established for its deferred tax asset. If unanticipated events
should occur in the future, the realization of all or some portion of the
Company's deferred tax asset could be jeopardized. The Company will continue to
evaluate the need for a valuation allowance on a quarterly basis.

The statements contained in Management's Discussion and Analysis concerning the
Company's future revenues, profitability, financial resources, market demand and
product development are forward-looking statements (as such term is defined in
the Private Securities Litigation Reform Act of 1995) relating to the Company
that are based on the beliefs of the management of the Company, as well as
assumptions and estimates made by and information currently available to the
Company's management. The Company's actual results in the future may differ
materially from those projected in the forward-looking statements due to risks
and uncertainties that exist including, but not limited to: competitive factors
and pricing pressures, shifts in market demand, general economic conditions and
other factors, including (but not limited to) changes in demand for the
Company's products or franchises, the impact of competitors' actions, and
changes in prices or supplies of food ingredients and labor. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions or
estimates prove incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected or intended.

                                       2
<PAGE>

                      Noble Roman's, Inc. and Subsidiaries
                      Condensed Consolidated Balance Sheets
<TABLE>
<CAPTION>
                                                                                            Unaudited
                                                                          December 31,     September 30,
                                                                              2002             2003
                                                                          ------------     ------------
<S>                                                                        <C>              <C>
                                      Assets
Current assets:
     Cash                                                                  $     13,180     $    159,790
     Accounts and notes receivable                                            1,107,551        1,233,295
     Inventories                                                                140,762          129,278
     Prepaid expenses                                                           345,818          551,724
     Current portion of long-term notes receivable                               58,618          145,004
     Deferred tax asset - current portion                                     1,550,000        2,250,000
                                                                           ------------     ------------
          Total current assets                                                3,215,929        4,469,091

Property and equipment:
     Equipment                                                                  923,034          982,985
     Leasehold improvements                                                      86,229           86,229
                                                                           ------------     ------------
                                                                              1,009,262        1,069,214
     Less accumulated depreciation and amortization                             373,301          421,997
                                                                           ------------     ------------
          Net property and equipment                                            635,962          647,217
                                                                           ------------     ------------
Deferred tax asset                                                            8,371,093        7,145,905
Other assets                                                                  1,377,761        1,867,244
                                                                           ------------     ------------
               Total assets                                                $ 13,600,744     $ 14,129,457

                       Liabilities and Stockholders' Equity
Current liabilities:
     Accounts payable and accrued expenses                                 $  1,920,915     $    978,873
     Note payable to officer                                                     65,840           65,840
     Current portion of long-term notes payable                               1,050,000        1,650,000
     Deferred franchise fees                                                    163,115           60,500
                                                                           ------------     ------------
          Total current liabilities                                           3,199,870        2,755,213
                                                                           ------------     ------------

Long-term obligations:
     Notes payable to bank - net of warrant value of $67,370
         at December 31, 2002 and $12,659 at September 30, 2003 and
         net of current portion                                               7,632,630        6,287,341
     Subordinated debentures                                                                   2,040,000
     Participating income notes - net of warrant valuation of $22,917
         at December 31, 2002 and $0 at September 30, 2003                    1,599,883          859,060
                                                                           ------------     ------------
           Total long-term liabilities                                        9,232,513        9,186,401
                                                                           ------------     ------------

Stockholders' equity:
     Common stock (25,000,000 shares authorized, 16,166,158 outstanding
          at December 31, 2002 and 16,166,158 as of September 30, 2003)      17,789,452       17,789,452
     Preferred stock (5,000,000 shares authorized)                            4,929,274        4,929,274
     Accumulated deficit                                                    (21,550,365)     (20,530,883)
                                                                           ------------     ------------
          Total stockholders' equity                                          1,168,361        2,187,842
                                                                           ------------     ------------
               Total liabilities and stockholders' equity                  $ 13,600,744     $ 14,129,457
                                                                           ============     ============
</TABLE>
See accompanying notes to condensed consolidated financial statements.

                                       3
<PAGE>

                      Noble Roman's, Inc. and Subsidiaries
                 Condensed Consolidated Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                           Three Months Ended             Nine Months Ended
                                                              September 30,                  September 30,
                                                        --------------------------    --------------------------
                                                           2002           2003           2002           2003
                                                        -----------    -----------    -----------    -----------
<S>                                                     <C>            <C>            <C>            <C>
Revenue:
      Royalties and fees                                $ 1,481,736    $ 1,695,459    $ 4,080,473    $ 4,890,068
      Administrative fees and other                          49,290         50,192        223,678        137,036
      Restaurant revenue                                    253,805        238,367        503,078        664,889
                                                        -----------    -----------    -----------    -----------
           Total revenue                                  1,784,831      1,984,018      4,807,228      5,691,993

Operating expenses:
     Salaries and wages                                     282,170        286,034        798,430        812,111
     Trade show expense                                      51,142         84,020        159,995        241,920
     Travel expense                                          66,986         61,887        171,382        148,754
     Other operating expenses                               171,909        179,828        444,119        530,455
     Restaurant expenses                                    255,697        234,105        482,369        652,803
Depreciation and amortization                                14,532         16,232         43,136         48,696
General and administrative                                  321,534        326,281        913,395        944,216
                                                        -----------    -----------    -----------    -----------
          Operating income                                  620,862        795,631      1,794,402      2,313,037

Interest and other expense                                  334,840        254,844        957,513        768,368
                                                        -----------    -----------    -----------    -----------
          Income before income tax                          286,021        540,787        836,889      1,544,669

Income tax                                                   97,247        183,867        284,542        525,187
                                                        -----------    -----------    -----------    -----------
          Net income                                    $   188,774    $   356,919    $   552,347    $ 1,019,481
                                                        ===========    ===========    ===========    ===========

Earnings per share:
     Net income                                         $       .01    $       .02    $       .03    $       .06

Weighted average number of common shares outstanding     16,051,158     16,166,158     16,051,158     16,166,158

Fully diluted earnings per share:
     Net income                                         $       .01    $       .02    $       .03    $       .06

Weighted average number of common shares outstanding     17,015,481     17,157,632     17,015,481     17,157,632
</TABLE>

See accompanying notes to condensed consolidated financial statements.

                                       4
<PAGE>

                      Noble Roman's, Inc. and Subsidiaries
                      Consolidated Statement of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                   Nine Months Ended
                                                                                      September 30,
                                                                                  2002            2003
                                                                               -----------     -----------
<S>                                                                            <C>             <C>
OPERATING ACTIVITIES
   Net income                                                                  $   552,347     $ 1,019,481
   Adjustments to reconcile net income to net cash provided
        by (used in) operating activities:
        Depreciation and amortization                                              200,018         178,262
        Deferred federal income taxes                                              284,542         525,187
        Changes in operating assets and liabilities (increase) decrease in:
             Accounts receivable                                                  (172,723)       (125,744)
             Inventory                                                             (35,882)         11,484
             Prepaid expenses                                                      (81,081)       (205,906)
             Other assets                                                         (233,527)       (522,724)
        Increase (decrease) in:
            Accounts payable                                                       317,336        (578,489)
            Deferred franchise fee                                                  21,150        (102,615)
                                                                               -----------     -----------
        NET CASH PROVIDED BY OPERATING ACTIVITIES                                  852,179         198,936

INVESTING ACTIVITIES
   Purchase of property and equipment                                             (104,627)        (59,952)
                                                                               -----------     -----------
        NET CASH (USED) IN INVESTING ACTIVITIES                                   (104,627)        (59,952)

FINANCING ACTIVITIES
   Net proceeds from issuance of subordinated debentures                                --       1,934,919
   Payment of obligations for discontinued operations                             (759,602)       (363,553)
   Payment of principal on outstanding debt                                             --      (1,563,740)
                                                                               -----------     -----------
        NET CASH PROVIDED (USED) BY FINANCING ACTIVITIES                          (759,602)          7,626
                                                                               -----------     -----------

INCREASE (DECREASE) IN CASH                                                        (12,050)        146,610

        Cash at beginning of period                                                 25,203          13,180
                                                                               -----------     -----------

        Cash at end of period                                                  $    13,153     $   159,790
                                                                               ===========     ===========
</TABLE>


Supplemental schedule of non-cash investing and financing activities

None.


See accompanying notes to condensed consolidated financial statements.

                                       5
<PAGE>

ITEM 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

Noble Roman's, Inc. and Subsidiaries

Results of Operations - Three-month and nine-month periods ended September 30,
2002 and 2003


Introduction
------------

Over the last several years, given the potential size of the opportunities in
the non-traditional and co-branding segments of the industry, the Company made
the strategic decision to focus its business on franchising to non-traditional
and co-branding locations and away from operating full-service, traditional
restaurants. During 2000, the Company completed that transition and all of its
full-service, traditional restaurants are now franchised.

The franchise program for non-traditional and co-brand locations was developed
and launched in 1997. The Company has awarded franchises in 44 states plus
Washington, D.C., Guam, Puerto Rico, Italy and Canada. The program was designed
based on the Company's reputation for superior tasting pizza products. It is a
complete foodservice program, although primarily focused on pizza, and the
concept can be tailored easily for the different venues and for different
locations within a venue. The systems are designed to provide excellent taste
and quality with simplicity and cost effectiveness. Operations require minimal
training and low staffing levels, has a food cost structure that is very
attractive and carries a low investment cost, making the unit economics
attractive to the franchisee. The Company believes that franchising these type
facilities offers opportunities for substantial growth for the foreseeable
future.

The Company has been selling franchises in such non-traditional locations as
convenience stores, travel plazas, all types of entertainment facilities,
military bases, universities, airports, commercial facilities where there is
existing traffic, hotels and as a co-brand to other traditional restaurants.
Recently, the Company has expanded its venues to include retail foodservice to
hospitals. The Company believes the potential in this venue is excellent and
plans to open several such locations over the next several months.

The Company has more recently launched a variation of its concept called "Noble
Roman's Pizza Express". The purpose was to provide pizza-focused foodservice for
locations which want to add foodservice, but require something even simpler and
more space efficient than the Company's standard solution. A primary difference
is the use of either par-baked crusts, which require no live dough management,
or fully pre-topped pizzas, which arrive to the operator ready-to-bake. The
Company believes this foodservice solution offers a significant growth
opportunity and plans to further develop the concept and aggressively market it
nationwide.

Based on the Company's 2000, 2001 and 2002 operating results, its business plan,
the number of franchise units now open, the backlog of units sold to be opened,
the backlog of franchise prospects now in ongoing discussions and negotiations,
and the Company's trends and the results of its operations thus far in 2003,
management has determined that it is more likely than not that the Company's
deferred tax credits will be fully utilized before the tax credits expire.
Therefore, no valuation allowance was established for its deferred tax asset. If
unanticipated events should occur

                                       6
<PAGE>

in the future, the realization of all or some portion of the Company's deferred
tax asset could be jeopardized. The Company will continue to evaluate the need
for a valuation allowance on a quarterly basis.

The following table sets forth the percentage relationship to total revenue of
the listed items included in Noble Roman's condensed consolidated statements of
operations for the three-month and nine-month periods ended September 30, 2002
and for September 30, 2003, respectively.

<TABLE>
<CAPTION>
                                                     Three Months Ended             Nine Months Ended
                                                        September 30,                 September 30,
                                                        -------------                 -------------
                                                      2002        2003             2002          2003
                                                      ----        ----             ----          ----
<S>                                                  <C>         <C>              <C>           <C>
Revenue:
     Royalties and fees                               83.0%       85.5%            84.8%         85.9%
     Administrative fees and other                     2.8         2.5              4.7           2.4
     Restaurant revenue                               14.2        12.0             10.5          11.7
                                                     -----       -----            -----         -----
          Total revenue                              100.0       100.0            100.0         100.0

Operating expenses:
     Salaries and wages                               15.8        14.4             16.7          14.3
     Trade show expenses                               2.9         4.2              3.3           4.3
     Travel expense                                    3.8         3.1              3.6           2.6
     Other operating expenses                          9.6         9.1              9.2           9.3
     Restaurant expenses                              14.3        11.8             10.0          11.5
Depreciation and amortization                           .8          .8               .9            .9
General and administrative                            18.0        16.4             19.0          16.6
                                                     -----       -----            -----         -----
     Operating income                                 34.8        40.1             37.3          40.6

Interest and other expense                            18.8        12.8             19.9          13.5
                                                     -----       -----            -----         -----
     Net income before income tax                     16.0%       27.3%            17.4%         27.1%

Income tax                                             5.4         9.3              5.9           9.2
                                                     -----       -----            -----         -----
     Net income                                       10.6%       18.0%            11.5%         17.9%
</TABLE>

2003 Compared wth 2002
----------------------

Total revenue from royalties and fees increased from $1.48 million to $1.70
million and from $4.08 million to $4.89 million, respectively, for the
three-month and nine-month periods ended September 30, 2003 compared to the same
periods in 2002. That is a 14.4% and 19.8% growth, respectively, for the
three-month and nine-month periods ended September 30, 2003 as compared to the
same periods in 2002. Total revenue increased from $1.78 million to $1.98
million and from $4.81 million to $5.69 million, or an increase of 11.2% and
18.4%, respectively, for the three-month and nine-month periods ended September
30, 2003 compared to the same periods in 2002. The increase in the royalties and
fees was primarily the result of the growth in the number of franchise locations
open and the higher unit sales from some of the most recent openings. The
increase in total revenue was the result of the increase in royalties and fees
partially offset by decrease in administrative fees and other and the increase
in restaurant revenue as a result of operating three

                                       7
<PAGE>

locations on military bases until they are sold as franchise locations. The
Company only plans to operate these locations temporarily until a qualified
franchisee can be located.

Salaries and wages decreased from 15.8% and 16.7% of revenue for the three-month
and nine-month periods ended September 30, 2002 to 14.4% and 14.3%,
respectively, of revenue for the same periods in 2003. This decrease was the
result of the revenue increase from the continued growth in the number of
locations while utilizing approximately the same operational staff.

Trade show expense increased from 2.9% and 3.3% of revenue for the three-month
and nine-month periods ended September 30, 2002 to 4.2% and 4.3%, respectively,
of revenue for the same periods in 2003. This increase was a result of
participating in more national trade shows to attract franchisees from
additional venues to further diversify the Company's target market.

Travel expenses decreased from 3.8% and 3.6% of revenue for the three-month and
nine-month periods ended September 30, 2002 to 3.1% and 2.6%, respectively, of
revenue for the same periods in 2003. This decrease is a result of the growth in
revenue from continued growth in locations while utilizing approximately the
same employees and by locating operational staff in various parts of the country
to minimize travel costs.

Other operating expenses decreased from 9.6 % of revenue for the three-month
period ended September 30, 2002 to 9.1% of revenue for the same period in 2003.
Operating expenses increased for the nine-month period ended September 30, 2003
to 9.3% of revenue from 9.2% of revenue for the same period in 2002. This
increase in other operating expenses for the nine-month period is primarily the
result of an increase in group insurance costs, additional sales commissions
from the sale of new units and the increase in payroll taxes as a result of the
increase in commissions. The increases were mostly offset by the increase in
revenue. The decrease in the most recent three-month period was the result of
the growth in revenue more than offsetting the growth in expenses.

Restaurant expenses decreased from 14.3 % of revenue for the three-month period
ended September 30, 2002 to 11.8% of revenue for the same period in 2003.
Restaurant expenses increased for the nine-month period ended September 30, 2003
to 11.5% of revenue from 10.0% of revenue for the same period in 2002. This
increase in restaurant expenses for the nine-month period is the result of
operating three locations on military bases until they are sold as franchise
locations. These three military bases were first fully operated by Noble
Roman's, Inc. during the third quarter of 2002. The decrease in the most recent
three-month period was the primarily the result of better controls put into
place by the Company combined with the increases in revenue.

General and administrative expense decreased from 18.0% and 19.9% of revenue for
the three-month and nine-month periods ended September 30, 2002 to 16.4% and
16.6%, respectively, of revenue for the same periods in 2003. This decrease is
the result of the increased revenue utilizing approximately the same
administrative structure. The dollar amount of general and administrative
expenses only grew by 3.4% for the nine-month period ended September 30, 2003
compared to the same period in 2003 while revenue grew 18.4% during the same
time period.

Operating income increased from 34.8% and 37.3% of revenue for the three-month
and nine-month periods ended September 30, 2002 to 40.1% and 40.6%,
respectively, of revenue for the same periods in 2003. This increase was the
result of total revenue growing by 11.2% and 18.4%, respectively, for the
three-month and nine-month periods ended September 30, 2003 compared to

                                       8
<PAGE>

the same periods in 2002, while total operating expenses grew by 2.1% and 12.2%,
respectively, for the same time periods.

Interest expense decreased from 18.8% and 19.9% of revenue for the three-month
and nine-month periods ended September 30, 2002 to 12.8% and 13.5%,
respectively, of revenue for the same periods in 2003. This decrease was the
result of the revenue increases and the rate of interest on the participating
income notes decreasing from 7.5% of defined revenue to 2.5% of defined revenue.

Net income increased from approximately $189 thousand to $357 thousand and from
$552 thousand to $1.02 million, respectively, for the three-month and nine-month
periods ended September 30, 2003 compared to the same periods in 2002. That is a
89.1% and 84.6% growth, respectively, for the three-month and nine-month periods
ended September 30, 2003 as compared to the same periods in 2002. The primary
reason for this increase was the continued growth while maintaining
approximately the same operating and administrative structure. Management does
not believe that the operating and administrative structure will change
significantly from the continued growth in the foreseeable future except for
periodically adding an additional franchise consultant or other support staff.


Liquidity and Capital Resources
-------------------------------

Over the last several years, given the potential size of the opportunities in
the non-traditional and co-branding market segments, the Company made the
strategic decision to refocus its business on franchising to non-traditional and
co-branding locations and away from operating full-service, traditional
restaurant locations. During 2000, the Company completed that transition and all
of its full-service, traditional restaurants are now franchised. The Company
continues to provide franchise services to the full-service franchises in much
the same fashion as it does with its non-traditional and co-branded franchises.

As a result of the Company's business strategy, it's cash flow generated from
operations and it's current and anticipated future rate of growth, the Company
believes it will have sufficient cash flow to meet its obligations and to carry
out its current business plan.

The statements contained in Management's Discussion and Analysis concerning the
Company's future revenues, profitability, financial resources, market demand and
product development are forward-looking statements (as such term is defined in
the Private Securities Litigation Reform Act of 1995) relating to the Company
that are based on the beliefs of the management of the Company, as well as
assumptions and estimates made by and information currently available to the
Company's management. The Company's actual results in the future may differ
materially from those projected in the forward-looking statements due to risks
and uncertainties that exist including, but not limited to: competitive factors
and pricing pressures, shifts in market demand, general economic conditions and
other factors, including (but not limited to) changes in demand for the
Company's products or franchises, the impact of competitors' actions, and
changes in prices or supplies of food ingredients and labor. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions or
estimates prove incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected or intended.

                                       9
<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.   Legal Proceedings.

          The Company is involved in various litigation relating to claims
          arising out of its normal business operations and relating to
          restaurant facilities closed in 1997 and 2000. The Company believes
          that none of its current proceedings, individually or in the
          aggregate, will have a material adverse effect upon the Company beyond
          the amount reserved in its financial statements.

ITEM 2.   Changes in Securities.

          None.

ITEM 3.   Defaults Upon Senior Securities.

          None.

ITEM 4.   Submission of Matters to a Vote of Security Holders.

          None.

ITEM 5.   Other Information.

          None.

ITEM 6.   Exhibits and Reports on Form 8-K.

          Exhibit 99.1      Certification of C.E.O.
          Exhibit 99.2      Certification of C.F.O.



                                       10
<PAGE>

                                   SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.




                                        NOBLE ROMAN'S, INC.



Date: November 13, 2003                 /s/ Paul Mobley
      -----------------                 -------------------------------------
                                        Paul W. Mobley, Chairman of the Board






                                       11
<PAGE>

I, Paul W. Mobley, certify that:

     (1)  I have reviewed this quarterly report on Form 10-Q of Noble Roman's,
          Inc.;

     (2)  Based on my knowledge, this quarterly report does not contain any
          untrue statement of a material fact or omit to state a material fact
          necessary to make the statements made, in light of the circumstances
          under which such statements were made, not misleading with respect to
          the period covered by this quarterly report;

     (3)  Based on my knowledge, the financial statements, and other financial
          information included in this quarterly report, fairly present in all
          material respects the financial condition, results of operations and
          cash flows of the registrant as of, and for, the periods presented in
          this quarterly report;

     (4)  The registrant's other certifying officers and I are responsible for
          establishing and maintaining disclosure controls and procedures (as
          defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant
          and have:

          (a)  designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               quarterly report is being prepared;

          (b)  evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 45 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

          (c)  presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures based on
               our evaluation as of the Evaluation Date;

     (5)  The registrant's other certifying officers and I have disclosed, based
          on our most recent evaluation, to the registrant's auditors and the
          audit committee of registrant's board of directors (or persons
          performing the equivalent function):

          (a)  all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

          (b)  any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

     (6)  The registrant's other certifying officers and I have indicated in
          this quarterly report whether or not there were significant changes in
          internal controls or in other factors that could significantly affect
          internal controls subsequent to the date of our most recent
          evaluation, including any corrective actions with regard to
          significant deficiencies and material weaknesses.


Date November 13, 2003                        /s/ Paul W. Mobley
                                              --------------------------------
                                              Paul W. Mobley
                                              Chief Executive Officer


Subscribed and sworn to before me this 13th day of November, 2003.


                                              /s/  Linda L. Minett
                                              --------------------------------
                                              Linda L. Minett, Notary Public
My commission expires:  11/27/08

                                       12
<PAGE>

I, Paul W. Mobley, certify that:

     (1)  I have reviewed this quarterly report on Form 10-Q of Noble Roman's,
          Inc.;

     (2)  Based on my knowledge, this quarterly report does not contain any
          untrue statement of a material fact or omit to state a material fact
          necessary to make the statements made, in light of the circumstances
          under which such statements were made, not misleading with respect to
          the period covered by this quarterly report;

     (3)  Based on my knowledge, the financial statements, and other financial
          information included in this quarterly report, fairly present in all
          material respects the financial condition, results of operations and
          cash flows of the registrant as of, and for, the periods presented in
          this quarterly report;

     (4)  The registrant's other certifying officers and I are responsible for
          establishing and maintaining disclosure controls and procedures (as
          defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant
          and have:

          (a)  designed such disclosure controls and procedures to ensure that
               material information relating to the registrant, including its
               consolidated subsidiaries, is made known to us by others within
               those entities, particularly during the period in which this
               quarterly report is being prepared;

          (b)  evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 45 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

          (c)  presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures based on
               our evaluation as of the Evaluation Date;

     (5)  The registrant's other certifying officers and I have disclosed, based
          on our most recent evaluation, to the registrant's auditors and the
          audit committee of registrant's board of directors (or persons
          performing the equivalent function):

          (a)  all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

          (b)  any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and

     (6)  The registrant's other certifying officers and I have indicated in
          this quarterly report whether or not there were significant changes in
          internal controls or in other factors that could significantly affect
          internal controls subsequent to the date of our most recent
          evaluation, including any corrective actions with regard to
          significant deficiencies and material weaknesses.


Date November 13, 2003                        /s/ Paul W. Mobley
                                              --------------------------------
                                              Paul W. Mobley
                                              Chief Financial Officer


Subscribed and sworn to before me this 13th day of November, 2003.


                                              /s/  Linda L. Minett
                                              --------------------------------
                                              Linda L. Minett, Notary Public
My commission expires:  11/27/08

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