Tofutti Brands repays $500k loan to former CEO estate; cites improved finances

TOFUTTI BRANDS INC

Repaid $500,000 principal plus accrued interest on a loan from David Mintz, former Chairman and CEO.
Loan originated January 6, 2016, and was extended to December 31, 2022; repayment accelerated.
Loan was convertible into common stock at $1.77 per share; early repayment eliminates potential dilution.
Board determined to accelerate repayment due to the Company's improved financial condition.

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