krispy Kreme's accounting for franchise acquisitions is the most aggressive we have found" said one analyst at the time. "We surveyed 18 publicly traded companies with franchise operations. four of which had reacquired franchises, and they had amortized them. That clearly seems like the right thing to do " Over the previous three years,krispy Kreme had recorded $174.5 million as intangible assets (reacquired franchise rights), Which the company was not required to amoetize. On the date of the SEC announcement,krispy Kreme's shares fell another 15%, closing at $15.71 a share.