Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Privet Fund Management LLC
   2. Issuer Name and Ticker or Trading Symbol
NOBLE ROMANS INC [NROM] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
See Explanation of Responses
(Last)
(First)
(Middle)
79 WEST PACES FERRY RD, SUITE 200B		 3. Date of Earliest Transaction (Month/Day/Year)
01/05/2015
(Street)

ATLANTA, GA 30305		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/05/2015   P   74,955 A $ 2.13 (5) 2,263,436 I By Privet Fund LP (1) (2)
Common Stock 01/06/2015   P   30,053 A $ 2.13 (6) 2,293,489 I By Privet Fund LP (1) (3)
Common Stock 01/07/2015   P   158,000 A $ 2.12 (7) 2,451,489 I By Privet Fund LP (1) (4)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Privet Fund Management LLC
79 WEST PACES FERRY RD, SUITE 200B
ATLANTA, GA 30305		     X   See Explanation of Responses
Privet Fund LP
79 WEST PACES FERRY RD, SUITE 200B
ATLANTA, GA 30305		     X   See Explanation of Responses
Levenson Ryan
79 WEST PACES FERRY RD, SUITE 200B
ATLANTA, GA 30305		     X   See Explanation of Responses

Signatures

 /s/ Ryan Levenson   01/07/2015
**Signature of Reporting Person Date
 /s/ Ryan Levenson, Managing Member, on behalf of Privet Fund Management LLC   01/07/2015
**Signature of Reporting Person Date
 /s/ Ryan Levenson, Managing Member, on behalf of Privet Fund Management LLC, Managing Partner, on behalf of Privet Fund LP   01/07/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This report is filed jointly by Privet Fund LP, Privet Fund Management LLC and Ryan Levenson (collectively, the "Reporting Persons"). The Reporting Persons are filing this report because each of the Reporting Persons may be deemed to be a member of a Section 13(d) group disclosed in the Schedule 13D filed on behalf of the Reporting Persons and the other members of such group. As of December 29, 2014, the members of this Section 13(d) group collectively owned more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock held by the other members of such Section 13(d) group except to the extent of his or its pecuniary interest therein.
(2) As of January 5th, 2,163,436 shares were owned directly by Privet Fund LP and indirectly by Privet Fund Management LLC and Ryan Levenson, and 100,000 shares were owned by Privet Fund Management LLC and indirectly by Ryan Levenson.
(3) As of January 6th, 2,193,489 shares were owned directly by Privet Fund LP and indirectly by Privet Fund Management LLC and Ryan Levenson, and 100,000 shares were owned by Privet Fund Management LLC and indirectly by Ryan Levenson.
(4) As of January 7th, 2,351,489 shares were owned directly by Privet Fund LP and indirectly by Privet Fund Management LLC and Ryan Levenson, and 100,000 shares were owned by Privet Fund Management LLC and indirectly by Ryan Levenson.
(5) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.05 to $2.15, inclusive. The Reporting Persons undertakes to provide to Noble Roman's, Inc., any security holder of Noble Roman's, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (4) and (5) to this Form 4.
(6) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.12 to $2.15, inclusive.
(7) The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.12 to $2.13, inclusive.

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