Incorporated on March 1, 2000, Pancake House, Inc. (PCKH) is principally engaged in the development, operation and franchising of a casual dining chain of restaurants under the trade name "Pancake House". The consumer brand name has traditionally been associated with specialty pancakes and waffles and has likewise expanded to offer an array of popular international dishes such as spaghetti, tacos and chicken. The original Pancake House was established in 1970 by Milagros Basa, Leticia Zamora and Carmen Zaragosa to introduce pancakes and waffles to a predominantly rice-based consuming market. On February 15, 2000, a new investor group led by Mr. Martin P. Lorenzo entered into an asset purchase agreement with Sta. Rosa Foods Services Corporation and Extrovert Corporation for the purchase of all the operating assets of the latter pertaining to the Pancake House chain of restaurants business. From a total of 22 outlets at the time of acquisition, PCKH expanded its restaurant operations to 80 outlets as of December 31, 2008, with the outlets strategically located within Metro Manila and other key cities in the Philippines. Consistent with its thrust to grow its business in the casual dining industry, PCKH also operates identified portions of Dencio Foods Corporation's business and assets relating to the Dencio's Bar and Grill chain of restaurants. In 2008, PCKH developed another brand "Kabisera ng Dencios" which caters to the upscale market seeking gourmet Filipino cuisine. It opened its first outlet in May 2008. PCKH also owns and operates the Teriyaki Boy chain of restaurants business, and other food outlets such as Singkit, Le Coeur de France, and Sizzlin' Pepper Steak. Source: SEC Form 17-A (2008)