Business Combinations (Tables)

12 Months Ended

Sep. 27, 2016

Schedule of Fair Value Estimate of Assets Acquired and Liabilities Assumed

The estimated fair values of the assets acquired and liabilities assumed for the acquisition approximated the following:

	Allocated Fair Value
Cash	$	1,376
Receivables		124
Prepaid expenses and other		49
Inventories		133
Deposits		52
Property and equipment		3,672
Trademarks ⁽¹⁾		3,900
Franchise agreements ⁽¹⁾		116
Non-compete agreements ⁽¹⁾		15
Goodwill ⁽²⁾		14,970
Total assets purchased		24,407
Accounts payable and other accrued liabilities		(750	)
Unfavorable lease liability		(481	)
Non-controlling interests		(1,276	)
Total liabilities assumed		(2,507	)
Investment in BDFD balance		(498	)
Total purchase price	$	21,402

Cash	$	18,988
Notes payable		2,414
Total purchase price	$	21,402

⁽¹⁾	The value of the identifiable intangible assets were determined by an independent Corporate Finance and Business Valuation firm.

⁽²⁾	The excess of the purchase price over the aggregate fair value of net assets acquired was allocated to goodwill. The portion of the purchase price attributable to goodwill represents benefits expected as a result of the acquisition, including sales and unit growth opportunities.

Schedule of Intangible Assets Acquired

Estimates of acquired goodwill and identifiable intangible assets related to the acquisition are as follows:

	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)
Trademarks and trade names	$	3,900	Indefinite
Franchise Agreements		116		3 – 9
Non-Compete Agreements		15		3
Goodwill, including assembled workforce		14,970	Indefinite

Pro-Forma Revenue and Net Income

The table below presents the proforma revenue and net income for the fiscal year ended September 30, 2015, assuming the acquisition had occurred on October 1, 2014. This proforma information does not purport to represent what the actual results of operations of the Company would have been had the acquisition occurred on this date nor does it purport to predict the results of operations for future periods.

	Fiscal Year Ended September 30
	2015
Revenues	$	54,416
Net income	$	619
Net income (loss) attributable to Good Times Restaurants, Inc.	$	159
Net income (loss) attributable to common shareholders	$	159
Basic and diluted income (loss) per share	$	.01