# EDGAR Filing Document

**Accession Number:** 0001701756
**File Stem:** 0001493152-23-000913
**Filing Date:** 2023-1
**Character Count:** 11536
**Document Hash:** 6791721e20833072979a41f83e0f6086
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-23-000913.hdr.sgml**: 20230109

**ACCESSION NUMBER**: 0001493152-23-000913

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20230109

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230109

**DATE AS OF CHANGE**: 20230109

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Muscle Maker, Inc.
- **CENTRAL INDEX KEY:** 0001701756
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING & DRINKING PLACES [5810]
- **IRS NUMBER:** 472555533
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39223
- **FILM NUMBER:** 23516888

**BUSINESS ADDRESS:**
- **STREET 1:** 1751 RIVER RUN WESTBEND
- **STREET 2:** SUITE 200
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76107
- **BUSINESS PHONE:** 682-708-8250

**MAIL ADDRESS:**
- **STREET 1:** 1751 RIVER RUN WESTBEND
- **STREET 2:** SUITE 200
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76107

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 8-K**

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported): January 9, 2023

Commission File Number 001-39223

**MUSCLE MAKER, INC.**

(Exact name of small business issuer as specified in its charter)

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| | |
|:---|:---|
| **Nevada** | **47-2555533** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification No.) |

---

**1751 River Run, Suite 200, Fort Worth, Texas 76107**

(Address of principal executive offices)

**(832) 604-9568**

(Issuer's telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol | Name of each exchange on which registered |
| Common Stock, $0.0001 par value | GRIL | The Nasdaq Stock Market |

---

**Item 2.02 Results of Operations and Financial Condition.**

On January 9, 2023, Muscle Maker, Inc. (the "Company") issued a press release announcing certain unaudited preliminary revenue results for the month ended December 31, 2022. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

As provided in General Instruction B.2 of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

**Item 9.01 Financial Statements and Exhibits.**

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 99.1 | [Press Release dated January 9, 2023](ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

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

---

| | |
|:---|:---|
| **MUSCLE MAKER, INC.** | **MUSCLE MAKER, INC.** |
| By: | */s/ Michael Roper* |
| Name: | Michael Roper |
| Title: | Chief Executive Officer |

---

Date: January 9, 2023

## Exhibit 99.1

**Exhibit 99.1**

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| | |
|:---|:---|
| ![](ex99-1_001.jpg) | ![](ex99-1_002.jpg) |

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**Muscle Maker Inc (GRIL) Crosses $150 Million Revenue Milestone In First 60 Days Of Operation Of New Subsidiary, Sadot LLC**

**Total Company Year-To-Date Revenue Jumps 1,836% To $159.25 Million**

**Fort Worth, Texas, January 9, 2023**– Muscle Maker, Inc. (Nasdaq: **<u>GRIL</u>**), today announced its new wholly owned subsidiary, Sadot LLC ("Sadot"), has crossed the $150 million revenue milestone in its first 60 days of operation. Sadot generated $54.19 million in revenue in November and an additional $96.39 million in top line sales for the full month of December. Sadot, in its first two months of operation, has now generated $150.58 million in total revenue. Total company year-to-date revenue increased by 1,836% to $159.25 million since the end of Q3, 2022.

Sadot currently focuses on international shipping of physical food commodity items such as wheat, soybean meal, corn, etc. Shipments are via cargo ships that can range between 25,000 to 75,000 metric tons.

Michael Roper, CEO of Muscle Maker, stated "it has been our belief that the creation of the new Sadot subsidiary and the diversification of Muscle Maker into additional lines of business could change the landscape for Muscle Maker overall. While Pokemoto and growing our franchising footprint will be a critical part of the restaurant division moving forward, the launch of Sadot and our agreement with AGGIA has made an immediate, significant impact to our top line revenue. Total company revenue through Q3, 2022 was $8.67 million. Sadot has generated $150.58 million in revenue in Q4, its first two months of operation, pushing the total company revenue for the entire 2022 year-to-date upwards of 1,836% to over $159.25 million in just 60 days. These numbers exclude Q4 revenue generated by our restaurant, meal prep, franchising and other divisions.

Value creation for our shareholders remains a focus for management. We are creating a more diversified company that currently reaches consumers via restaurants, meal plans, franchising and food commodity shipping. We continue to look for opportunities to further this strategy which could include many other lines of business such as farming, sourcing or production of food products."

On November 18<sup>th</sup>, Muscle Maker filed a Form 8K with the Securities and Exchange Commission and issued a corresponding press release announcing a new subsidiary, Sadot, and a material agreement between Sadot and AGGIA. AGGIA will manage the day-to-day operations of Sadot for Muscle Maker, focusing on shipping, trading, sourcing, farming and production of physical food commodities.

Roper continued, "We are excited to continue implementing the Sadot strategy, and we believe we are on the right path since we have generated over $150 million in revenue in the first two months of operation. While our wholly owned subsidiary Sadot focuses on the food commodity shipping and farming side of the business, the current Muscle Maker franchising team will continue to focus on growing the company through our Pokemoto franchising efforts. Our strategy remains the same. As a matter of fact, we recently announced we have now sold 55 Pokemoto franchise agreements to date, opening 8 so far and have an additional 47 to still be opened. Our efforts in 2022 should lead to an exciting 2023!"

The preliminary, unaudited financial results included in this press release are based on information available as of January 6, 2023, and management's initial review of operations and financial results as of such date. They remain subject to change based on the completion of the Company's customary quarterly financial closing and review procedures and are forward-looking statements. The Company assumes no obligation to update these statements, except as may be required by law. The actual results may be materially different and are affected by the risk factors and uncertainties identified in this press release and in the Company's annual and quarterly filings with the Securities and Exchange Commission. Further, the Company's independent auditor has not reviewed or performed any procedures on the preliminary, unaudited financial results.

**About Muscle Maker Grill Restaurants**

Muscle Maker, Inc. is the parent company of "healthier for you" brands delivering high-quality healthy food options to consumers through traditional and non-traditional locations such as military bases, universities, delivery and direct to consumer ready-made meal prep options. Brands include Muscle Maker Grill restaurants, Pokemoto Hawaiian Poke and SuperFit Foods meal prep. Our menus highlight healthier versions of traditional and non-traditional dishes and feature grass fed steak, lean turkey, chicken breast, Ahi tuna, salmon, shrimp, tofu and plant-based options. For more information on Muscle Maker, Inc., visit <u>www.musclemakergrill.com</u>, for more information on Pokemoto visit <u>www.pokemoto.com</u> or for more information on SuperFit Foods visit <u>www.superfitfoods.com</u>.

**Forward-Looking Statements**

This press release may include "forward-looking statements" pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. To the extent that the information presented in this press release discusses financial projections, information, or expectations about our business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as "should", "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in documents that we file from time to time with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Muscle Maker, Inc., does not undertake any duty to update any forward-looking statements except as may be required by law.

Contact:

Muscle Maker Grill Marketing

**<u>marketing@musclemakergrill.com</u>**

Investor Relations:

**<u>IR@musclemakergrill.com</u>**