Amendment No. 3 to Form S-I Table of Contents Our business is subject to extensive regulation and we may incur additional costs or liabilities as a result of government regulation of our restaurants. Our business is subject to extensive federal, state, local and foreign government regulation. including, among others, regulations related to the preparation and sale of food, the sale of alcoholic beverages. zoning and building codes, land use and employee, health, sanitation and safety matters. Typically, our licenses to sell alcoholic beverages must be renewal annually and may be suspended or revoked at any time for cause. Alcoholic beverage control regulations govern various aspects of daily operations of our restaurants. including the minimum age of guests and employees, hours of operation. advertising, wholesale purchasing and inventory control, handling and storage. Any failure by any of our restaurants to obtain and maintain. on a timely basis. liquor or other licenses, permits or approvals required to serve alcoholic beverages or food, as well as any associated negative publicity, could delay or prevent the opening of, or adversely impact the viability of. and could have an adverse effect on. that restaurant and its operating and financial perfonnance. We apply for our liquor licenses with the advice of outside legal counsel and licensing consultants. Because of the many and various state and federal licensing and permitting requirements. there is a significant risk that one or inure regulatory agencies could determine that we have not complied with applicable licensing or permitting regulations or have not maintained the approvals necessary for us to conduct business within its jurisdiction. My changes in the application or interpretation of existing laws may adversely impact our restaurants in that state, and could also cause us to lose, either temporarily or permanently. the licenses, permits and regulations necessary to conduct our restaura