Good Times Restaurants (GTIM) 10-Q 17 Feb 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Dec. 31, 2014	Feb. 13, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Trading Symbol	GTIM
Entity Registrant Name	GOOD TIMES RESTAURANTS INC
Entity Central Index Key	825324
Current Fiscal Year End Date	-21
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,449,072

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2014	Sep. 30, 2014
CURRENT ASSETS:
Cash and cash equivalents	$11,497,000	$9,894,000
Receivables, net of allowance for doubtful accounts of $0	78,000	150,000
Prepaid expenses and other	77,000	55,000
Inventories	314,000	282,000
Notes receivable	10,000	10,000
Total current assets	11,976,000	10,391,000
PROPERTY, EQUIPMENT AND CAPITAL LEASES
Land and building	5,278,000	4,736,000
Leasehold improvements	5,438,000	4,710,000
Fixtures and equipment	9,309,000	8,796,000
Total property, equipment and capital leases	20,025,000	18,242,000
Less accumulated depreciation and amortization	-12,698,000	-12,488,000
Total net property, equipment and capital leases	7,327,000	5,754,000
OTHER ASSETS:
Notes receivable	80,000	82,000
Investment in affiliate	503,000	502,000
Goodwill	96,000	96,000
Deposits and other assets	102,000	56,000
Total other assets	781,000	736,000
TOTAL ASSETS	20,084,000	16,881,000
CURRENT LIABILITIES:
Current maturities of long-term debt and capital lease obligations	147,000	69,000
Accounts payable	1,029,000	1,085,000
Deferred income	71,000	88,000
Other accrued liabilities	1,287,000	1,308,000
Total current liabilities	2,534,000	2,550,000
LONG-TERM LIABILITIES:
Capital lease obligations due after one year	35,000	42,000
Long-term debt due after one year	530,000	177,000
Deferred and other liabilities	776,000	791,000
Total long-term liabilities	1,341,000	1,010,000
Good Times Restaurants Inc stockholders' equity:
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of December 31, 2014 and September 30, 2014	0	0
Common stock, $.001 par value; 50,000,000 shares authorized, 9,443,080 shares issued and outstanding as of December 31, 2014 and 8,256,591 shares issued and outstanding as of September 30, 2014	10,000	8,000
Capital contributed in excess of par value	36,352,000	33,047,000
Accumulated deficit	-20,423,000	-20,013,000
Total Good Times Restaurants Inc. stockholders' equity	15,939,000	13,042,000
Non-controlling interest in partnerships	270,000	279,000
Total stockholders' equity	16,209,000	13,321,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$20,084,000	$16,881,000

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Sep. 30, 2014
CONDENSED CONSOLIDATED BALANCE SHEETS [Abstract]
Receivables, allowance for doubtful accounts	$0	$0
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	9,443,080	8,256,591
Common stock, shares outstanding	9,443,080	8,256,591

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
NET REVENUES:
Restaurant sales	$7,766,000	$5,829,000
Franchise royalties	89,000	82,000
Total net revenues	7,855,000	5,911,000
RESTAURANT OPERATING COSTS:
Food and packaging costs	2,749,000	1,939,000
Payroll and other employee benefit costs	2,657,000	1,982,000
Restaurant occupancy and other operating costs	1,338,000	1,027,000
Preopening costs	237,000	148,000
Depreciation and amortization	221,000	143,000
Total restaurant operating costs	7,202,000	5,239,000
General and administrative costs	719,000	508,000
Advertising costs	277,000	234,000
Franchise costs	26,000	22,000
Gain on restaurant asset sale	-6,000	-6,000
Loss From Operations	-363,000	-86,000
Other Income (Expenses):
Interest income, net	3,000	2,000
Affiliate investment income (loss)	1,000	-72,000
Other expenses	-2,000	-3,000
Total other income (expenses), net	2,000	-73,000
NET LOSS	-361,000	-159,000
Income attributable to non-controlling interests	-49,000	-64,000
NET LOSS ATTRIBUTABLE TO GOOD TIMES RESTAURANTS, INC	-410,000	-223,000
Preferred stock dividends	0	-30,000
NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS	($410,000)	($253,000)
BASIC AND DILUTED LOSS PER SHARE:
Net loss attributable to Common Shareholders	($0.04)	($0.05)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic	9,179,007	4,926,214
Diluted	9,310,802

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($361,000)	($159,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	221,000	143,000
Accretion of deferred rent	14,000	7,000
Stock based compensation expense	67,000	32,000
Affiliate investment loss (income)	-1,000	72,000
Recognition of deferred gain on sale of restaurant building	-6,000	-6,000
(Increase) decrease in:
Receivables and other	72,000	109,000
Inventories	-32,000	-21,000
Deposits and other	-70,000	16,000
(Decrease) increase in:
Accounts payable	-56,000	49,000
Accrued liabilities and deferred income	-61,000	53,000
Net cash provided by (used in) operating activities	-213,000	295,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in affiliate	0	-375,000
Payments for the purchase of property and equipment	-1,752,000	-768,000
Payments received from franchisees and others	2,000	4,000
Net cash used in investing activities	-1,750,000	-1,139,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Expenses related to stock sale	0	-10,000
Proceeds from warrant exercises	3,233,000	0
Proceeds from stock option exercises	7,000	0
Principal payments on notes payable and long-term debt	-17,000	-10,000
Borrowings on notes payable and long-term debt	401,000	0
Preferred dividends paid	0	-30,000
Net distributions paid to non-controlling interests	-58,000	-43,000
Net cash provided by (used in) financing activities	3,566,000	-93,000
NET CHANGE IN CASH AND CASH EQUIVALENTS	1,603,000	-937,000
CASH AND CASH EQUIVALENTS, beginning of period	9,894,000	6,143,000
CASH AND CASH EQUIVALENTS, end of period	11,497,000	5,206,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	5,000	2,000
Non-cash Purchase of property and equipment	40,000	0
Preferred dividends declared	$0	$30,000

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Dec. 31, 2014
Basis of Presentation [Abstract]
Basis of Presentation	Note 1.
	Basis of Presentation
	In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all of the normal recurring adjustments necessary to present fairly the financial position of the Company as of December 31, 2014 and the results of its operations and its cash flows for the three month period ended December 31, 2014. Operating results for the three month period ended December 31, 2014 are not necessarily indicative of the results that may be expected for the year ending September 30, 2015. The condensed consolidated balance sheet as of September 30, 2014 is derived from the audited financial statements, but does not include all disclosures required by generally accepted accounting principles. As a result, these condensed consolidated financial statements should be read in conjunction with the Company's Form 10-K/A for the fiscal year ended September 30, 2014.
	The accompanying unaudited condensed consolidated financial statements include the accounts of Good Times Restaurants Inc and its wholly-owned subsidiaries, Good Times Drive Thru, Inc. ("Drive Thru") and BD of Colorado, LLC ("BD of Colo"), as of December 31, 2014. All significant intercompany balances and transactions have been eliminated in consolidation.
	Drive Thru is engaged in the business of developing, owning, operating and franchising hamburger-oriented drive-through restaurants under the name Good Times Burgers & Frozen Custard.  Most of our Good Times restaurants are located in the front-range communities of Colorado but we also have franchised restaurants in Wyoming. BD of Colo is engaged in the business of developing, owning and operating full service hamburger-oriented restaurants under the name Bad Daddy's Burger Bar.
	Reclassification – Certain prior year balances have been reclassified to conform to the current year's presentation.  Such reclassifications had no effect on the net income or loss.

Recent_Developments

Recent Developments	3 Months Ended
	Dec. 31, 2014
Recent Developments [Abstract]
Recent Developments	Note 2.
	Recent Developments
	During fiscal 2014, BD of Colo opened two Bad Daddy's restaurants in the Denver metropolitan area and a third opened in early January 2015.  We are negotiating additional Bad Daddy's leases for development in 2015 and 2016.
	In November 2014, Drive Thru opened a new Good Times restaurant in Highlands Ranch, Colorado and closed on the purchase of land in December 2014 for the development of an additional Good Times restaurant in Aurora, Colorado expected to open in the spring of 2015.
	During fiscal 2014, our liquidity and equity significantly increased from the exercise of approximately 97% of the Series B warrants and approximately 50% of the Series A warrants.  As of December 31, 2014 a total of 2,450,100 Series A Warrants, representing 97% of the outstanding Series A Warrants and 100% of the 154,000 Underwriter Warrants, were exercised by the holders.  Total proceeds from all warrants exercised, net of expenses related to the exercise of the warrants, were $9,796,900, including $3,233,000 during the three month period ending December 31, 2014. In connection with the exercise of all warrants we issued a total of 3,791,749 shares of our common stock.
	In October, 2014 the Company mailed a notice of redemption to all holders of the Company's A Warrants.  Each A Warrant was exercisable for one share of common stock at $2.75 per share until 5:00 p.m. Colorado Time on Friday, November 14, 2014.  Holders of the A Warrants are no longer entitled to exercise their warrants for common stock and have no rights, except to receive the redemption price of $.01 per A Warrant, upon surrender of their Series A Warrants.  No other warrants remain outstanding.
	On January 26, 2015, the Company filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC").  When declared effective by the SEC, the registration statement will allow the Company to issue common stock from time to time up to an aggregate amount of $75 million.  After the shelf registration statement becomes effective, Good Times may offer and sell securities covered by the registration statement through one or more methods of distribution, subject to market conditions and Good Times' capital needs. The terms of any offering under the shelf registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering.  The terms of any securities offered under the registration statement, and the intended use of the net proceeds resulting therefrom, will be established at the times of the offerings and will be described in prospectus supplements filed with the SEC at the times of the offerings.
	On January 29, 2015, the Company filed an Amendment No. 1 to the Initial Registration Statement on Form S-1 which registered for sale 2,094,236 shares of the Company's common stock by certain selling Stockholders as further described in in our Annual Report on Form 10-K/A for the fiscal year ended September 30, 2014.  The Amendment No. 1 was filed to update the financial information and other disclosures, among other things, including the Company's audited financial statements for the fiscal year ended September 30, 2014.
	As reported on form 8-K, on July 30, 2014, Drive Thru entered into a Development Line Loan and Security Agreement with United Capital Business Lending (“Lender”), pursuant to which Lender agreed to loan Drive Thru up to $2,100,000 (the “Loan”) and entered into a Collateral Assignment of Franchise Agreements, Management Agreement and Partnership Interests with Lender. As of December 31, 2014, Drive Thru had borrowed approximately $597,000 under the Loan Agreement.  In addition, on July 30, 2014, the Company entered into a Guaranty Agreement (“the Guaranty Agreement”) with Lender, pursuant to which the Company guaranteed the repayment of the Loan.  The Loan Agreement, Collateral Assignment, Notes (as defined below) and Guaranty Agreement are referred to herein as the “Loan Documents.”
	Under the terms of the Loan Agreement, Drive Thru may use up to $750,000 of the Loan to purchase a Point of Sale System and up to $1,350,000 of the Loan for the development of three new Good Times restaurants.   Drive Thru may request disbursements under the Loan Agreement for development costs of Good Times restaurants on or before July 1, 2015.  In connection with each disbursement under the Loan Agreement, Drive Thru shall execute a Promissory Note (the “Notes”) in the full amount of each disbursement request.  The Notes incur interest at a rate of 6.69% per annum, are repayable in monthly installments of principal and interest over 84 months, and contain other customary terms and conditions.  The Notes are subject to certain prepayment fees ranging between 1% and 3% of the unpaid balance at such time if Drive Thru repays a Note in certain circumstances prior to the thirty seventh monthly installment under such Note.
	The Loan Agreement and Notes contain customary representations, warranties and affirmative and negative covenants, including without limitation, annual covenants to maintain certain insurance coverage and to maintain a certain debt service coverage ratio, leverage ratio, and quick ratio.

StockBased_Compensation

Stock-Based Compensation	3 Months Ended
	Dec. 31, 2014
Stock-Based Compensation [Abstract]
Stock-Based Compensation	Note 3.
	Stock-Based Compensation
	Stock-based compensation is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the requisite service period (generally the vesting period of the grant).
	Our net loss for the three month periods ended December 31, 2014 and December 31, 2013 includes $67,000 and $32,000, respectively, of compensation costs related to our stock-based compensation arrangements.
	Stock Option awards
	The Company measures the compensation cost associated with stock option awards by estimating the fair value of the award as of the grant date using the Black-Scholes pricing model. The Company believes that the valuation technique and the approach utilized to develop the underlying assumptions are appropriate in calculating the fair values of the Company's stock options and stock awards granted during fiscal 2014. Estimates of fair value are not intended to predict actual future events or the value ultimately realized by the employees who receive equity awards.
	During the three months ended December 31, 2013 the Company granted 89,500 incentive stock options from available shares under its 2008 Plan, as amended, with an exercise price of $2.48 and a per-share weighted average fair value of $2.12.
	In addition to the exercise and grant date prices of the stock option awards, certain weighted average assumptions that were used to estimate the fair value of stock option grants are listed in the following table:
		Fiscal 2014
		Incentive Stock Options
	Expected term (years)		6.5
	Expected volatility		112.11	%
	Risk-free interest rate		1.94	%
	Expected dividends		0
	We estimate expected volatility based on historical weekly price changes of our common stock for a period equal to the current expected term of the options. The risk-free interest rate is based on the United States treasury yields in effect at the time of grant corresponding with the expected term of the options. The expected option term is the number of years we estimate that options will be outstanding prior to exercise considering vesting schedules and our historical exercise patterns.
	The following table summarizes stock option activity for the three month period ended December 31, 2014 under all plans:
		Shares			Weighted Average		Weighted Average
					Exercise Price
							Remaining
							Contractual Life
							(Yrs.)
	Outstanding-beg of year		396,910		$	3.87
	Options granted		0		$
	Options exercised		(3,891	)	$	1.83
	Forfeited		0
	Expired		(11,853	)	$	9.33
	Outstanding Dec 31, 2014		381,166		$	3.72		7
	Exercisable Dec 31, 2014		181,245		$	5.2		5.5
	As of December 31, 2014, the aggregate intrinsic value of the outstanding and exercisable options was $1,600,000 and $685,000, respectively. Only options whose exercise price is below the current market price of the underlying stock are included in the intrinsic value calculation.
	As of December 31, 2014, the total remaining unrecognized compensation cost related to non-vested stock options was $198,000 and is expected to be recognized over a weighted average period of approximately 1.92 years.
	Restricted Stock Grants
	During the fiscal year 2014, the Company issued 123,840 shares of restricted stock to certain employees and executive officers from available shares under its 2008 Plan, as amended. The shares were issued with a grant date fair market value of $3.23 which is equal to the closing price of the stock on the date of the grants. The restricted stock grant vests three years following the grant date.
	A summary of the status of non-vested restricted stock as of December 31, 2014 is presented below.
		Shares			Weighted Average Grant Date Fair Value
					Per Share
	Non-vested shares at beg of year		123,840		$	3.23
	Granted		0
	Vested		0
	Non-vested shares at Dec 31, 2014		123,840		$	3.23
	As of December 31, 2014, there was $335,000 of total unrecognized compensation cost related to non-vested restricted stock. This cost is expected to be recognized over a weighted average period of approximately 2.58 years.

Warrants

Warrants	3 Months Ended
	Dec. 31, 2014
Warrants [Abstract]
Warrants	Note 4.
	Warrants
	In connection with the public offering in August 2013 we issued 2,200,000 warrants to purchase 2,200,000 shares of our common stock (“A Warrants”) and an additional 2,200,000 warrants to purchase 1,100,000 shares of our common stock (“B Warrants”). Additionally we issued 330,000 A warrants to purchase 330,000 shares of common stock and 330,000 B warrants to purchase 165,000 of common stock to the underwriters in connection with the public offering. Each A Warrant is exercisable on or before August 16, 2018 for one share of common stock at an exercise price of $2.75 per share and two B Warrants were exercisable on or before May 16, 2014 for one share of common stock at an exercise price of $2.50 per share. Also, in connection with the public offering we issued 154,000 representative warrants to purchase 154,000 shares of common stock at an exercise price of $3.125 to the underwriters. The representative warrants were exercisable beginning May 16, 2014 and expire on August 16, 2016.
	As of December 31, 2014 we had received proceeds, net of expenses related to the exercise of the warrants, of $9,796,900, including $3,233,000 during the three month period ending December 31, 2014. A summary of warrant activity for the three months ended December 31, 2014 is presented in the following table:
		Number of Shares			Weighted Average
					Exercise Price Per Share
	Outstanding at October 1, 2014		1,262,500		$	2.75
	Expired		(79,900	)	$	2.75
	Exercised		(1,182,600	)	$	2.75
	Outstanding at December 31, 2014		0		$

Preferred_Stock

Preferred Stock	3 Months Ended
	Dec. 31, 2014
Preferred Stock [Abstract]
Preferred Stock	Note 5.
	Preferred Stock
	On March 28, 2014, Small Island Investments Limited converted all 355,451 shares of the Company's Series C Convertible Preferred Stock, par value $0.01 per share, into 710,902 shares of the Company's Common Stock, par value $0.001 per share.  The effects of the conversion are to eliminate the Company's payment of dividends on the Series C Convertible Preferred Stock and to eliminate the possible need for the Company to redeem the Series C Convertible Preferred Stock for a cash payment.

Net_Income_Loss_per_Common_Sha

Net Income (Loss) per Common Share	3 Months Ended
	Dec. 31, 2014
Net Income (Loss) per Common Share [Abstract]
Net Income (Loss) per Common Share	Note 6.
	Net Income (Loss) per Common Share
	Our basic earnings per share calculation is computed based on the weighted-average number of common shares outstanding. Our diluted earnings per share calculation is computed based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive securities for this calculation consist of in-the-money outstanding stock options and warrants (which were assumed to have been exercised at the average market price of the common shares during the reporting period). The treasury stock method is used to measure the dilutive impact of in-the-money stock options. Options for 381,166 and 407,237 shares of common stock, and warrants for 79,900 and 3,795,000 shares of common stock, were not included in computing diluted EPS for the three months ended December 31, 2014 and 2013, respectively, because their effects were anti-dilutive.

Contingent_Liabilities_and_Liq

Contingent Liabilities and Liquidity	3 Months Ended
	Dec. 31, 2014
Contingent Liabilities and Liquidity [Abstract]
Contingent Liabilities and Liquidity	Note 7.
	Contingent Liabilities and Liquidity
	We remain contingently liable on various leases underlying restaurants that were previously sold to franchisees.  We have never experienced any losses related to these contingent lease liabilities, however if a franchisee defaults on the payments under the leases, we would be liable for the lease payments as the assignor or sublessor of the lease.  Currently we have not been notified nor are we aware of any leases in default by the franchisees, however there can be no assurance that there will not be in the future which could have a material effect on our future operating results.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Note 8.
	Related Party Transactions
	In April, 2012 the Company entered into a financial advisory services agreement with Heathcote Capital LLC (Heathcote) pursuant to which they were to provide the Company with exclusive financial advisory services in connection with a possible strategic transaction. Gary J. Heller, a member of the Company's Board of Directors, is the principal of Heathcote.  Accordingly, the agreement constitutes a related party transaction and was reviewed and approved by the Audit Committee of the Company's Board of Directors. On March 25, 2013, the Company and Heathcote modified this agreement to exclude any transactions involving the Maxim Group LLC and for Heathcote to continue to provide non-exclusive financial advisory services to the Company. On September 27, 2013, the Company and Heathcote further modified this agreement to provide for investor relations activities specifically related to the exercise of the outstanding warrants and the trading volume in the Company's stock and other corporate finance projects as determined by the CEO of the company. On November 5, 2014, the Company and Heathcote further modified this agreement to provide for investor relations activities and corporate finance projects as determined by the CEO of the company. The modifications were approved by the Audit Committee of the Company's Board of Directors. Total amounts paid to Heathcote were $10,000 and $30,000 for the three month periods ended December 31, 2014 and 2013, respectively.
	In April 2013 the Company entered into a management services agreement with BDFD pursuant to which the Company will provide general management services as well as accounting and administrative services. Income received from the agreement by the Company is fully recognized in income and then proportionately offset by the 48% equity investment in BDFD. Total amounts received from BDFD per the management services agreement were $6,000 in each of the three month periods ended December 31, 2014 and 2013. In addition to the management services the Company performed scope of work services and total amounts received from BDFD for these services were $0 and $18,000 for the three month periods ended December 31, 2014 and 2013, respectively.

Impairment_of_LongLived_Assets

Impairment of Long-Lived Assets and Goodwill	3 Months Ended
	Dec. 31, 2014
Impairment of Long-Lived Assets and Goodwill [Abstract]
Impairment of Long-Lived Assets and Goodwill	Note 9.
	Impairment of Long-Lived Assets and Goodwill
	Long-Lived Assets
	We review our long-lived assets for impairment, including land, property and equipment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the capitalized costs of the assets to the future undiscounted net cash flows expected to be generated by the assets and the expected cash flows are based on recent historical cash flows at the restaurant level (the lowest level that cash flows can be determined).
	Given the results of our impairment analysis at December 31, 2014 there are no restaurants which are impaired.
	Goodwill
	The Company is required to test goodwill for impairment on an annual basis or whenever indications of impairment arise including, but not limited to, a significant decline in cash flows from store operations. Such tests could result in impairment charges. As of December 31, 2014, the Company had $96,000 of goodwill related to the purchase of a franchise operation on December 31, 2012. There was no impairment required to the acquired goodwill as of December 31, 2014.

Income_Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2014
Income Taxes [Abstract]
Income Taxes	Note 10.
	Income Taxes
	We account for income taxes using the liability method, whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. The deferred tax assets are reviewed periodically for recoverability, and valuation allowances are adjusted as necessary.
	The Company is subject to taxation in various jurisdictions. The Company continues to remain subject to examination by U.S. federal authorities for the years 2011 through 2014. The Company believes that its income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material adverse effect on the Company's financial condition, results of operations, or cash flows. Therefore, no reserves for uncertain income tax positions have been recorded. The Company's practice is to recognize interest and/or penalties related to income tax matters in income tax expense. No accrual for interest and penalties was considered necessary as of December 31, 2014.

Noncontrolling_Interests

Non-controlling Interests	3 Months Ended
	Dec. 31, 2014
Non-controlling Interests [Abstract]
Non-controlling Interests	Note 11.
	Non-controlling Interests
	Non-controlling interests are presented as a separate item in the equity section of the condensed consolidated balance sheet. The amount of consolidated net income or loss attributable to non-controlling interests is presented on the face of the condensed consolidated statement of operations. Changes in a parent's ownership interest in a subsidiary that do not result in deconsolidation are equity transactions, while changes in ownership interest that do result in deconsolidation of a subsidiary require gain or loss recognition in net income based on the fair value on the deconsolidation date.

Investment_in_Affiliate

Investment in Affiliate	3 Months Ended
	Dec. 31, 2014
Investment in Affiliate [Abstract]
Investment in Affiliate	Note 12.
	Investment in Affiliate
	On April 15, 2013, the Company executed a Subscription Agreement for the purchase of 4,800 Class A Units of Bad Daddy's Franchise Development, LLC (BDFD), representing a 48% non-controlling voting membership interest in BDFD, for the aggregate subscription price of $750,000.  The subscription price was payable in two equal installments. The first $375,000 installment was paid on the date of execution of the Subscription Agreement and the remaining $375,000 installment was paid in December 2013.
	The Company accounts for this investment using the equity method. For the three month periods ending December 31, 2014 and 2013 the Company recorded net income of $1,000 and a net loss of ($72,000), respectively, for its share of BDFD's operating results. The carrying value at December 31, 2014 was $503,000, which is represented as Investment in Affiliate in the accompanying condensed consolidated balance sheets.

Subsequent_Events

Subsequent Events	3 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Note 13.
	Subsequent Events
	On January 26, 2015 we filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission (“SEC”).  When declared effective by the SEC, the registration statement will allow the Company to issue common stock from time to time up to an aggregate amount of $75 million.  After the shelf registration statement becomes effective, Good Times may offer and sell securities covered by the registration statement through one or more methods of distribution, subject to market conditions and Good Times' capital needs. The terms of any offering under the shelf registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering.  The terms of any securities offered under the registration statement, and the intended use of the net proceeds resulting therefrom, will be established at the times of the offerings and will be described in prospectus supplements filed with the SEC at the times of the offerings.
	On January 29, 2015, the Company filed an Amendment No. 1 to the Initial Registration Statement on Form S-1 which registered for sale 2,094,236 shares of the Company's common stock by certain selling Stockholders as further described in in our Annual Report on Form 10-K/A for the fiscal year ended September 30, 2014.  The Amendment No. 1 was filed to update the financial information and other disclosures, among other things, including the Company's audited financial statements for the fiscal year ended September 30, 2014.

Recent_Accounting_Pronouncemen

Recent Accounting Pronouncements	3 Months Ended
	Dec. 31, 2014
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	Note 14.
	Recent Accounting Pronouncements
	We have reviewed all significant recent accounting pronouncements and concluded that they either are not applicable to our operations or that no material effect is expected on our consolidated financial statements as a result of future adoption.

Segment_Information

Segment Information	3 Months Ended
	Dec. 31, 2014
Segment Information [Abstract]
Segment Information	Note 15.
	Segment Information
	All of our Good Times Burgers and Frozen Custard restaurants (Good Times) compete in the quick-service drive-through dining industry while our Bad Daddy's Burger Bar restaurants (Bad Daddy's) compete in the full-service upscale casual dining industry. We believe that providing this additional financial information for each of our brands will provide a better understanding of our overall operating results. Income (loss) from operations represents revenues less restaurant operating costs and expenses, directly allocable general and administrative expenses, and other restaurant-level expenses directly associated with each brand including depreciation and amortization, pre-opening costs and losses or gains on disposal of property and equipment. Unallocated corporate capital expenditures are presented below as reconciling items to the amounts presented in the condensed consolidated financial statements.
	The following tables present information about our reportable segments for the respective periods:
		Three Months Ended
		December 31,
		2014			2013
	Revenues
	Good Times	$	6,604,000		$	5,911,000
	Bad Daddy's		1,251,000			0
		$	7,855,000		$	5,911,000
	Income (loss) from operations
	Good Times	$	(96,000	)	$	110,000
	Bad Daddy's		(267,000	)		(196,000	)
		$	(363,000	)	$	(86,000	)
	Capital Expenditures
	Good Times	$	1,040,000		$	128,000
	Bad Daddy's		692,000			640,000
	Corporate		20,000			0
		$	1,752,000		$	768,000
		31-Dec-14				30-Sep-14
	Property & Equipment, net
	Good Times	$	4,397,000			$	3,499,000
	Bad Daddy's		2,817,000				2,188,000
	Corporate		113,000				67,000
		$	7,327,000			$	5,754,000

StockBased_Compensation_Tables

Stock-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2014
Stock-Based Compensation [Abstract]
Weighted Average Assumptions Used to Estimate Fair Value of Stock Option Grants	In addition to the exercise and grant date prices of the stock option awards, certain weighted average assumptions that were used to estimate the fair value of stock option grants are listed in the following table:
		Fiscal 2014
		Incentive Stock Options
	Expected term (years)		6.5
	Expected volatility		112.11	%
	Risk-free interest rate		1.94	%
	Expected dividends		0
Summary of Stock Option Activity under Share Based Compensation Plan	The following table summarizes stock option activity for the three month period ended December 31, 2014 under all plans:
		Shares			Weighted Average		Weighted Average
					Exercise Price
							Remaining
							Contractual Life
							(Yrs.)
	Outstanding-beg of year		396,910		$	3.87
	Options granted		0		$
	Options exercised		(3,891	)	$	1.83
	Forfeited		0
	Expired		(11,853	)	$	9.33
	Outstanding Dec 31, 2014		381,166		$	3.72		7
	Exercisable Dec 31, 2014		181,245		$	5.2		5.5
Schedule of Non-vested Restricted Stock Activity	A summary of the status of non-vested restricted stock as of December 31, 2014 is presented below.
		Shares			Weighted Average Grant Date Fair Value
					Per Share
	Non-vested shares at beg of year		123,840		$	3.23
	Granted		0
	Vested		0
	Non-vested shares at Dec 31, 2014		123,840		$	3.23

Warrants_Tables

Warrants (Tables)	3 Months Ended
	Dec. 31, 2014
Warrants [Abstract]
Schedule of Warrant Activity	A summary of warrant activity for the three months ended December 31, 2014 is presented in the following table:
		Number of Shares			Weighted Average
					Exercise Price Per Share
	Outstanding at October 1, 2014		1,262,500		$	2.75
	Expired		(79,900	)	$	2.75
	Exercised		(1,182,600	)	$	2.75
	Outstanding at December 31, 2014		0		$

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Dec. 31, 2014
Segment Information [Abstract]
Schedule of Reportable Segments	The following tables present information about our reportable segments for the respective periods:
		Three Months Ended
		December 31,
		2014			2013
	Revenues
	Good Times	$	6,604,000		$	5,911,000
	Bad Daddy's		1,251,000			0
		$	7,855,000		$	5,911,000
	Income (loss) from operations
	Good Times	$	(96,000	)	$	110,000
	Bad Daddy's		(267,000	)		(196,000	)
		$	(363,000	)	$	(86,000	)
	Capital Expenditures
	Good Times	$	1,040,000		$	128,000
	Bad Daddy's		692,000			640,000
	Corporate		20,000			0
		$	1,752,000		$	768,000
		31-Dec-14				30-Sep-14
	Property & Equipment, net
	Good Times	$	4,397,000			$	3,499,000
	Bad Daddy's		2,817,000				2,188,000
	Corporate		113,000				67,000
		$	7,327,000			$	5,754,000

Recent_Developments_Details

Recent Developments (Details) (USD $)	3 Months Ended		17 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Jul. 30, 2014	Jan. 29, 2015	Jan. 26, 2015	Aug. 21, 2013
Recent Developments [Line Items]
Proceeds from warrant exercises	$3,233,000	$0	$9,796,900
Common stock shares issued through exercise of warrants			3,791,749
Stock registration, amount						75,000,000
Shares of stock to be issued					2,094,236
A Warrants [Member]
Recent Developments [Line Items]
Exercise of warrants, shares			2,450,100
Exercise price							$2.75
Redemption price	$0.01		$0.01
Representative Warrants [Member] | Underwriters [Member]
Recent Developments [Line Items]
Exercise of warrants, shares			154,000
Exercise price							$3.13
Good Times Drive Thru Inc. (Borrower) [Member] | Loan Agreement [Member]
Recent Developments [Line Items]
Loan Agreement, amount				2,100,000
Loan Agreement, amount outstanding				597,000
Good Times Drive Thru Inc. (Borrower) [Member] | Loan Agreement [Member] | Point of Sale System [Member]
Recent Developments [Line Items]
Loan Agreement, amount				750,000
Good Times Drive Thru Inc. (Borrower) [Member] | Loan Agreement [Member] | Development of Three New Good Times Restaurants [Member]
Recent Developments [Line Items]
Loan Agreement, amount				1,350,000
Good Times Drive Thru Inc. (Borrower) [Member] | Promissory Note [Member]
Recent Developments [Line Items]
Interest rate				6.69%
Frequency of payment				monthly
Payment period				84 months
Good Times Drive Thru Inc. (Borrower) [Member] | Promissory Note [Member] | Minimum [Member]
Recent Developments [Line Items]
Prepayment fees, percent				1.00%
Good Times Drive Thru Inc. (Borrower) [Member] | Promissory Note [Member] | Maximum [Member]
Recent Developments [Line Items]
Prepayment fees, percent				3.00%

StockBased_Compensation_Narrat

Stock-Based Compensation (Narrative) (Details) (USD $)	3 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$67,000	$32,000
Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, shares		89,500
Stock options granted, exercise price		$2.48
Stock options granted, per-share weighted average fair value		$2.12
Remaining total unrecognized compensation cost related to unvested stock-based arrangements	198,000
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition	1 year 11 months 1 day
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, shares	0
Stock options granted, exercise price
Aggregate Intrinsic Value, Outstanding	1,600,000
Aggregate Intrinsic Value, Exercisable	685,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted, shares	0		123,840
Restricted stock granted, weighted average grant date fair value per share			$3.23
Vesting period	3 years
Remaining total unrecognized compensation cost related to unvested stock-based arrangements	$335,000
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition	2 years 6 months 29 days

StockBased_Compensation_Weight

Stock-Based Compensation (Weighted Average Assumptions Used to Estimate Fair Value of Stock Option Grants) (Details) (Fiscal 2014 Incentive Stock Options [Member], USD $)	3 Months Ended
	Dec. 31, 2014
Fiscal 2014 Incentive Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years 6 months
Expected volatility	112.11%
Risk-free interest rate	1.94%
Expected dividends	$0

StockBased_Compensation_Summar

Stock-Based Compensation (Summary of Stock Option Activity under Share Based Compensation Plan) (Details) (Stock Options [Member], USD $)	3 Months Ended
	Dec. 31, 2014
Stock Options [Member]
Shares
Outstanding-beg of year	396,910
Options granted	0
Options exercised	-3,891
Forfeited	0
Expired	-11,853
Outstanding Dec 31, 2014	381,166
Exercisable Dec 31, 2014	181,245
Weighted Average Exercise Price
Outstanding-beg of year	$3.87
Options granted
Options exercised	$1.83
Forfeited
Expired	$9.33
Outstanding Dec 31, 2014	$3.72
Exercisable Dec 31, 2014	$5.20
Weighted Average Remaining Contractual Life (Yrs.)
Outstanding Dec 31, 2014	7 years
Exercisable Dec 31, 2014	5 years 6 months

StockBased_Compensation_Summar1

Stock-Based Compensation (Summary of Non-vested Restricted Stock Activity) (Details) (Restricted Stock [Member], USD $)	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
Restricted Stock [Member]
Shares
Non-vested shares at beg of year	123,840
Granted	0	123,840
Vested	0
Non-vested shares at Dec 31, 2014	123,840	123,840
Weighted Average Grant Date Fair Value Per Share
Non-vested shares at beg of year	$3.23
Granted		$3.23
Vested
Non-vested shares at Dec 31, 2014	$3.23	$3.23

Warrants_Narrative_Details

Warrants (Narrative) (Details) (USD $)	3 Months Ended		17 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Aug. 21, 2013
Class of Warrant or Right [Line Items]
Proceeds from warrant exercises	$3,233,000	$0	$9,796,900
A Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants issued				2,200,000
Number of common stock to be purchased by warrants				2,200,000
Exercise date				16-Aug-18
Shares covered by each warrant				1
Exercise price				$2.75
A Warrants [Member] | Underwriters [Member]
Class of Warrant or Right [Line Items]
Warrants issued				330,000
Number of common stock to be purchased by warrants				330,000
B Warrants [Member]
Class of Warrant or Right [Line Items]
Warrants issued				2,200,000
Number of common stock to be purchased by warrants				1,100,000
Exercise date				16-May-14
Shares covered by each warrant				2
Exercise price				$2.50
B Warrants [Member] | Underwriters [Member]
Class of Warrant or Right [Line Items]
Warrants issued				330,000
Number of common stock to be purchased by warrants				165,000
Representative Warrants [Member] | Underwriters [Member]
Class of Warrant or Right [Line Items]
Warrants issued				154,000
Number of common stock to be purchased by warrants				154,000
Exercise price				$3.13
Representative Warrants [Member] | Underwriters [Member] | Minimum [Member]
Class of Warrant or Right [Line Items]
Exercise date				16-May-14
Representative Warrants [Member] | Underwriters [Member] | Maximum [Member]
Class of Warrant or Right [Line Items]
Exercise date				16-Aug-16

Warrants_Summary_of_Warrant_Ac

Warrants (Summary of Warrant Activity) (Details) (Warrant [Member], USD $)	3 Months Ended
	Dec. 31, 2014
Warrant [Member]
Number of Shares
Outstanding at October 1, 2014	1,262,500
Expired	-79,900
Exercised	-1,182,600
Outstanding at December 31, 2014	0
Weighted Average Exercise Price Per Share
Outstanding at October 1, 2014	$2.75
Expired	$2.75
Exercised	$2.75
Outstanding at December 31, 2014

Preferred_Stock_Details

Preferred Stock (Details) (USD $)	0 Months Ended
	Mar. 28, 2014	Dec. 31, 2014	Sep. 30, 2014
Class of Stock [Line Items]
Preferred stock, par value		$0.01	$0.01
Common stock, par value		$0.00	$0.00
Series C Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Conversion of stock, shares converted	355,451
Preferred stock, par value	$0.01
Common Stock [Member]
Class of Stock [Line Items]
Conversion of stock, shares issued upon conversion	710,902
Common stock, par value	$0.00

Net_Income_Loss_per_Common_Sha1

Net Income (Loss) per Common Share (Details)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive not included in earnings per share	381,166	407,237
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive not included in earnings per share	79,900	3,795,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Heathcote Capital LLC [Member]
Related Party Transaction [Line Items]
Total amount paid to advisory service agreement	$10,000	$30,000
BDFD [Member]
Related Party Transaction [Line Items]
Management services	6,000	6,000
Scope of work services	$0	$18,000
Ownership interest in affiliate	48.00%

Impairment_of_LongLived_Assets1

Impairment of Long-Lived Assets and Goodwill (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Sep. 30, 2014
	restaurants
Impaired Long-Lived Assets Held and Used [Line Items]
Number of restaurants impaired	0
Goodwill	$96,000	$96,000

Income_Taxes_Details

Income Taxes (Details) (USD $)	3 Months Ended
	Dec. 31, 2014
Income Tax Examination [Line Items]
Reserves for uncertain tax positions	0
Accrual for interest and penalties	0
Minimum [Member]
Income Tax Examination [Line Items]
Years subject to income tax examination	2011
Maximum [Member]
Income Tax Examination [Line Items]
Years subject to income tax examination	2014

Investment_in_Affiliate_Detail

Investment in Affiliate (Details) (USD $)	3 Months Ended		0 Months Ended	1 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Apr. 15, 2013	Dec. 31, 2013	Sep. 30, 2014
			installments
Investments in and Advances to Affiliates [Line Items]
Affiliate investment income (loss)	$1,000	($72,000)
Investment in affiliate	503,000				502,000
BDFD [Member]
Investments in and Advances to Affiliates [Line Items]
Subscription agreement for the purchase of Class A Units			4,800
Ownership interest			48.00%
Aggregate subscription price			750,000
Number of installments			2
BDFD [Member] | First Installment [Member]
Investments in and Advances to Affiliates [Line Items]
Subscription agreement payment			375,000
BDFD [Member] | Second Installment [Member]
Investments in and Advances to Affiliates [Line Items]
Subscription agreement payment				$375,000

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	Jan. 29, 2015	Jan. 26, 2015
In Millions, except Share data, unless otherwise specified
Subsequent Events [Abstract]
Stock registration, amount		$75
Common Stock, Shares Subscribed but Unissued	2,094,236

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$7,855,000	$5,911,000
Income (loss) from operations	-363,000	-86,000
Capital Expenditures	1,752,000	768,000
Property & Equipment, net	7,327,000		5,754,000
Good Times [Member]
Segment Reporting Information [Line Items]
Revenues	6,604,000	5,911,000
Income (loss) from operations	-96,000	110,000
Capital Expenditures	1,040,000	128,000
Property & Equipment, net	4,397,000		3,499,000
Bad Daddy's [Member]
Segment Reporting Information [Line Items]
Revenues	1,251,000	0
Income (loss) from operations	-267,000	-196,000
Capital Expenditures	692,000	640,000
Property & Equipment, net	2,817,000		2,188,000
Corporate [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	20,000	0
Property & Equipment, net	$113,000		$67,000