Here is the information that the script provides:
Warn of restores over the top of the database since its last FULL backup
Show database snapshots currently against the database
Show the last FULL, DIFF and LOG backup for the database including the backup durations and backup age.
Backup file information such as backup start/finish time , file path , first LSN , Last LSN , a status column which states whether the log chain is in tact based on First and last LSN but also if the file exists on disk, and finally a file exists column which will tell you if the file still exists on disk.
This is a great script if you take transaction log backups frequently (typically a good idea).