0001214659-16-011313.txt : 20160506 0001214659-16-011313.hdr.sgml : 20160506 20160506073018 ACCESSION NUMBER: 0001214659-16-011313 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20160506 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160506 DATE AS OF CHANGE: 20160506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GOOD TIMES RESTAURANTS INC CENTRAL INDEX KEY: 0000825324 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 841133368 STATE OF INCORPORATION: NV FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-18590 FILM NUMBER: 161625879 BUSINESS ADDRESS: STREET 1: 601 CORPORATE CIRCLE CITY: GOLDEN STATE: CO ZIP: 80401 BUSINESS PHONE: 3033841400 MAIL ADDRESS: STREET 1: 601 CORPORATE CIRCLE CITY: GOLDEN STATE: CO ZIP: 80401 FORMER COMPANY: FORMER CONFORMED NAME: PARAMOUNT VENTURES INC DATE OF NAME CHANGE: 19900205 8-K 1 f551608k.htm f551608k.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported)
May 6, 2016
 
Good Times Restaurants Inc.
(Exact name of registrant as specified in its charter)
 
 
Nevada
000-18590
84-1133368
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
141 Union Boulevard, #400, Golden, CO 80228
(Address of principal executive offices)   (Zip Code)
 
Registrant’s telephone number, including area code: (303) 384-1400
 
Not applicable
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
   
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



 
 

 

Item 7.01.    
Regulation FD Disclosure.

Good Times Restaurants Inc. (the “Company”) is furnishing this Current Report on Form 8-K in connection with the disclosure of information in conjunction with investor meetings.  A copy of the presentation materials is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item 7.01.  The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

The information in this Current Report on Form 8-K, including the exhibit attached hereto, is furnished pursuant to Item 7.01 and shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This Report will not be deemed an admission as to the materiality of any information in the Report that is required to be disclosed solely by Regulation FD.

Cautionary Statement Regarding Forward-Looking Statements

This Form 8-K and the exhibits include forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and such statements are subject to the safe harbors created thereby.  A forward-looking statement is neither a prediction nor a guarantee of future events.  We try, whenever possible, to identify these forward-looking statements by using words such as "anticipate," "assume," "believe," "estimate," "expect," "intend," "plan," "project" "may," "will," "would," "could," and similar expressions.  Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. These risks are identified and discussed in the Company's Form 10-K for the year ended September 30, 2015 filed with the Securities and Exchange Commission. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and we do not undertake to update any forward-looking statement, except as required by law. Readers should carefully review the statements set forth in the reports, which the Company has filed or will file from time to time with the Securities and Exchange Commission.

Item 9.01
Financial Statements and Exhibits.
 
 
(d) 
Exhibits.  The following exhibits are filed as part of this report:
 
Exhibit Number
Description
   
99.1
Press Release Dated May 6, 2016

 
2

 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
GOOD TIMES RESTAURANTS INC.
   
   
Date: May 6, 2016
       
 
Boyd E. Hoback
 
President and Chief Executive Officer


3
EX-99.1 2 ex99_1.htm EXHIBIT 99.1 ex99_1.htm
Exhibit 99.1
FOR IMMEDIATE RELEASE
May 6, 2016
Nasdaq Capital Markets - GTIM
 
GOOD TIMES RESTAURANTS INC. REPORTS $9M DEBT FACILITY COMMITMENT
 2 New Markets Planned for Expansion of Bad Daddy’s Burger Bar

 
(DENVER, CO) Good Times Restaurants Inc. (GTIM), operator of Good Times Burgers & Frozen Custard, a regional quick-service restaurant chain focused on fresh, high quality, all natural products and of Bad Daddy’s Burger Bar, a full service, upscale concept, today announced that it has received a senior debt revolving line of credit commitment from Cadence Bank for $9 million, subject to completion of definitive loan documents.
 
Jim Zielke, Chief Financial Officer, said “We have been in discussions with a few different lenders to be a resource for a senior debt facility that can be expanded as we continue to accelerate our growth in 2017 and 2018.  We are thrilled to be working with Cadence Bank, as they have significant experience in restaurant lending and have been very flexible based on our projected capital needs.  We believe the $9 million facility, together with our existing cash and projected internally generated cash flow, will provide sufficient capital for us to meet our fiscal 2017 growth goals and capital expenditure needs for both brands while maintaining a fairly conservative level of debt in our total capital structure. As we continue to execute on our growth plan, Cadence has the capacity to grow with us, providing very attractively priced debt capital.”
 
The Company said that annualized sales for the five new Bad Daddy’s opened this year are averaging at its $2.5 million annual target, laying the foundation for further acceleration of growth in fiscal 2017.
 
Commenting on development plans, Boyd Hoback President and CEO said “In addition to new sites that we have negotiated or signed leases on in our existing North Carolina and Colorado markets, we plan to enter two new markets in fiscal 2017 and have our trade areas identified, initial sites selected and are in lease negotiations so that we can spread accelerated development over the fiscal year.  Despite fiscal 2016 development being a bit slower than originally planned due to our pipeline of sites and the timing of delivery dates on new developments, our integration of the acquisition of Bad Daddy’s International has gone well, sales and operating margins in both existing stores and the new stores in Colorado in three different metro areas are performing well and our same store sales growth remains strong.   We are getting ahead of the curve for fiscal 2017 development and, based on our development plans in four states, we anticipate that we will still be on pace to achieve a run rate of $100 million in annualized total revenues by the end of fiscal 2017.”
 
The Company also said that they will have further discussion of their development plans in the earnings press release and subsequent call on Tuesday, May 10.
 
About Good Times Restaurants Inc.: Good Times Restaurants Inc. (GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of quick service restaurants located primarily in Colorado, in its wholly owned subsidiary, Good Times Drive Thru Inc.  Good Times provides a menu of high quality all natural hamburgers, 100% all natural chicken tenderloins, fresh frozen custard, natural cut fries, fresh lemonades and other unique offerings.  Good Times currently operates and franchises a total of 37 restaurants.
 
GTIM owns, operates, franchises and licenses 18 Bad Daddy’s Burger Bar restaurants through its wholly-owned subsidiaries.  Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy atmosphere that appeals to a broad consumer base.
 
 
 

 
 
Good Times Forward Looking Statements: This press release contains forward looking statements within the meaning of federal securities laws.  The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek” and similar expressions are intended to identify forward looking statements.  These statements involve known and unknown risks, which may cause the Company’s actual results to differ materially from results expressed or implied by the forward looking statements.  These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans and integrate new restaurants, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2015 filed with the SEC.  Although Good Times may from time to time voluntarily update its forward looking statements, it disclaims any commitment to do so except as required by securities laws.
 
INVESTOR RELATIONS CONTACTS:
Boyd E. Hoback, President and CEO (303) 384-1411
Jim Zielke, CFO (303) 384-1432
Christi Pennington (303) 384-1440
 
 


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