The Second Cup Ltd. (Second Cup), formerly Second Cup Income Fund, is a Canadian specialty coffee cafe franchisor and retailer. As of December 31, 2011, the Company had 359 cafes operating under the name Second Cup in Canada, of which seven were Company-operated and the balance were operated by franchise partners who were selected and trained to retail Second Cup�s product offering. During the year ended December 31, 2011, the Company opened 22 new cafes in a variety of formats and locations, including drive thrus, university campuses, community centers, street fronts and malls. In addition to its locations its product line also include simple whole bean coffee to more than 30 premium coffees, specialty beverages, complementary foods and merchandise items. On January 1, 2011, the Company completed its conversion from Second Cup Income Fund to Second Cup.