RAVE RESTAURANT GROUP, INC. — Director's Dealing 2012

Jun 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PIZZA INN HOLDINGS, INC /MO/ (PZZI)
CIK: 0000718332
Period of Report: 2012-05-30

Reporting Person: Coleman Clinton J (Director, see attached explanation)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-30	Common Stock	P	1165	$2.41	Acquired	56918	Direct
2012-05-30	Common Stock	P	2400	$2.43	Acquired	59318	Direct
2012-05-30	Common Stock	P	1000	$2.44	Acquired	60318	Direct
2012-05-30	Common Stock	P	1100	$2.45	Acquired	61418	Direct
2012-05-30	Common Stock	P	2000	$2.46	Acquired	63418	Direct
2012-05-31	Common Stock	P	85	$2.38	Acquired	63503	Direct
2012-05-31	Common Stock	P	600	$2.39	Acquired	64103	Direct
2012-05-31	Common Stock	P	600	$2.41	Acquired	64703	Direct
2012-05-31	Common Stock	P	200	$2.42	Acquired	64903	Direct
2012-05-31	Common Stock	P	700	$2.44	Acquired	65603	Direct
2012-05-31	Common Stock	P	1100	$2.45	Acquired	66703	Direct
2012-05-31	Common Stock	P	1300	$2.46	Acquired	68003	Direct
2012-06-01	Common Stock	P	100	$2.42	Acquired	68103	Direct
2012-06-01	Common Stock	P	5400	$2.43	Acquired	73503	Direct
2012-06-01	Common Stock	P	1200	$2.44	Acquired	74703	Direct
2012-06-01	Common Stock	P	100	$2.45	Acquired	74803	Direct
2012-06-01	Common Stock	P	1000	$2.46	Acquired	75803	Direct

Footnotes

F1: The Reporting Person is a Vice President of Newcastle Capital Management, L.P. ("NCM") and a director of the Issuer. He is a member of a "group" for the purposes of Section 13(d)(3) of the 1934 Act, as amended and accordingly may be deemed to beneficially own Shares of the Issuer's Common Stock owned in aggregate by the other members of the Section 13(d) group. The Section 13(d) group consists of Newcastle Partners, L.P., NCM, Newcastle Capital Group, L.L.C., L.P., Hallmark Financial Services, Inc., American Hallmark Insurance Company of Texas, Hallmark Specialty Insurance Company, Hallmark Insurance Company, Mark E. Schwarz, and the Reporting Person. The Reporting Person disclaims beneficial ownership of the shares of the Issuer's Common Stock owned by the other members of the Section 13(d) group except to the extent of the pecuniary interest therein.