Ethical Advocate, a leading provider of governance, risk, and compliance solutions, today announced that Diversified Restaurant Holdings, Inc. (OTCBB:DFRH) ("DRH" or the "Company") of Southfield, MI has renewed its confidential incident reporting engagement after a successful first year.
DRH is the owner, operator, and franchisor of the unique, full-service, ultra-casual restaurant and bar, Bagger Dave's Legendary Burger Tavern(R) ("Bagger Dave's") and a leading franchisee for Buffalo Wild Wings(R) ("BWW").
Ethical Advocate provides 100% completely anonymous and confidential incident reporting through a combination of web and telephone service. As an independent, third-party organization that specializes in advocating ethical culture and behavior in the workplace, Ethical Advocate has delivered to DRH a fully secure, encrypted web site and 800 number specifically created for DRH. Both reporting methods (website and telephone) are available 24 hours a day, every day of the year.
Ioana Ben-Ezra, Chief Compliance Officer and Corporate Controller of DRH, said, "The Ethical Advocate system has worked very well for us. This is a system every public company should have in place for risk management. Incidents are bound to happen, and at DRH, it's comforting to know we've taken smart, proactive steps to address them."
About Ethical Advocate
Ethical Advocate, and its parent organization, KJAS, provide systems to manage confidential data and information for corporate, government, and educational institutions. Ethical Advocate provides leading governance, risk and compliance solutions supporting Sarbanes-Oxley, Federal Acquisition Regulation (FAR), and many other regulatory and reporting needs. Persons desiring to report incidents, indiscretions, or suggestions can do so securely, 24/7/365, with privacy and anonymity, on the Internet in 14 languages, or through its Call Center in 175 languages. Ethical Advocate also provides custom designed live and on-line Ethics Trainings and seminars. For more information, visit the website at http://www.ethicaladvocate.com or call 1-888-ETHICS 6.
About Diversified Restaurant Holdings
Diversified Restaurant Holdings, Inc. ("DRH" or the "Company") is the owner, operator, and franchisor of the unique, full-service, ultra-casual restaurant concept, Bagger Dave's Legendary Burger Tavern(R) ("Bagger Dave's") and is a leading Buffalo Wild Wings(R) ("BWW") franchisee. Between the two concepts, the Company currently operates 40 restaurants in Michigan, Florida, Illinois and Indiana with an additional two Bagger Dave's and two BWW restaurants scheduled to be opened by year end 2012. The Company routinely posts news and other important information on its website at http://www.diversifiedrestaurantholdings.com.
Bagger Dave's offers a full-service, family-friendly restaurant and bar with a casual, comfortable atmosphere. The menu features freshly-made burgers (never frozen), accompanied by more than 30 toppings from which to choose, fresh-cut fries, hand-dipped milkshakes, and a selection of craft beer and wine. Signature items include Sloppy Dave's BBQ(R), Train Wreck Burger(R), and Bagger Dave's Amazingly Delicious Turkey Black Bean Chili(R). The Bagger Dave's concept emphasizes local flair by showcasing historical photos of the city in which each restaurant resides and features an electric train that runs above the dining room and bar areas. Currently, there are nine corporate-owned locations in the state of Michigan and one franchised location in Missouri. The Company has an executed area development agreement to franchise five additional Bagger Dave's in five states outside of Michigan. DRH is approved to franchise Bagger Dave's in the states of Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, and Wisconsin. For more information, visit http://www.baggerdaves.com.
DRH operates 31 BWW restaurants: 14 in Michigan, nine in Florida, four in Illinois and four in Indiana. The Company has opened 17 new BWW restaurants in fulfillment of its 32-store Area Development Agreement ("ADA") with franchisor Buffalo Wild Wings, Inc. (Nasdaq:BWLD). The remaining 15 restaurants under the ADA agreement, along with an additional franchise agreement in Indiana, suggest that the Company will operate 47 BWW's by 2017.
Safe Harbor Regarding Forward Looking Statements
The information made available in this news release contains forward-looking statements which reflect DRH's current view of future events, results of operations, cash flows, performance, business prospects and opportunities. Wherever used, the words "anticipate," "believe," "expect," "intend," "plan," "project," "will continue," "will likely result," "may," and similar expressions identify forward-looking statements as such term is defined in the Securities Exchange Act of 1934. Any such forward-looking statements are subject to risks and uncertainties and the Company's actual growth, results of operations, financial condition, cash flows, performance, business prospects and opportunities could differ materially from historical results or current expectations. Some of these risks include, without limitation, the impact of economic and industry conditions, competition, food and drug safety issues, store expansion and remodeling, labor relations issues, costs of providing employee benefits, regulatory matters, legal and administrative proceedings, information technology, security, severe weather, natural disasters, accounting matters, other risk factors relating to our business or industry and other risks detailed from time to time in the Securities and Exchange Commission filings of DRH. Forward-looking statements contained herein speak only as of the date made and, thus, DRH undertakes no obligation to update or publicly announce the revision of any of the forward-looking statements contained herein to reflect new information, future events, developments or changed circumstances or for any other reason.
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