Good Times Restaurants (GTIM) 10-Q 9 Aug 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jun. 25, 2019	Aug. 09, 2019
Document And Entity Information
Entity Registrant Name	Good Times Restaurants Inc.
Entity Central Index Key	0000825324
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 25, 2019
Current Fiscal Year End Date	--09-24
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,541,082
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 25, 2019	Sep. 25, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 2,619	$ 3,477
Receivables, net of allowance for doubtful accounts of $0	353	1,735
Prepaid expenses and other	451	151
Inventories	1,124	1,004
Notes receivable	13	14
Total current assets	4,560	6,381
PROPERTY AND EQUIPMENT:
Land and building	4,787	5,002
Leasehold improvements	30,740	27,844
Fixtures and equipment	26,316	24,948
Total property and equipment	61,843	57,794
Less accumulated depreciation and amortization	(25,177)	(22,549)
Total net property and equipment	36,666	35,245
OTHER ASSETS:
Notes receivable, net of current portion	16	32
Deposits and other assets	204	207
Trademarks	3,900	3,900
Other intangibles, net	60	35
Goodwill	15,150	15,150
Total other assets	19,330	19,324
TOTAL ASSETS:	60,556	60,950
CURRENT LIABILITIES:
Current maturities of long-term debt and capital lease obligations		17
Accounts payable	4,253	3,774
Deferred income	72	92
Other accrued liabilities	3,476	4,452
Total current liabilities	7,801	8,335
LONG-TERM LIABILITIES:
Maturities of long-term debt and capital lease obligations due after one year	11,150	7,472
Deferred and other liabilities	8,290	7,922
Total long-term liabilities	19,440	15,394
Good Times Restaurants Inc. stockholders' equity:
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of 06/25/19 and 09/25/18
Common stock, $.001 par value; 50,000,000 shares authorized, 12,522,778 and 12,481,162 shares issued and outstanding as of 06/25/19 and 09/25/18, respectively	13	12
Capital contributed in excess of par value	57,548	59,385
Accumulated deficit	(26,375)	(25,414)
Total Good Times Restaurants Inc. stockholders' equity	31,186	33,983
Non-controlling interests	2,129	3,238
Total stockholders' equity	33,315	37,221
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 60,556	$ 60,950

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 25, 2019	Sep. 25, 2018
Statement of Financial Position [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
Preferred stock, outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	12,522,778	12,481,162
Common stock, shares outstanding	12,522,778	12,481,162

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018	Jun. 25, 2019	Jun. 26, 2018
NET REVENUES:
Total net revenues	$ 29,457	$ 26,263	$ 81,999	$ 72,707
RESTAURANT OPERATING COSTS:
Food and packaging costs	8,529	7,833	23,955	22,154
Payroll and other employee benefit costs	10,677	9,155	30,458	26,076
Restaurant occupancy costs	2,091	1,850	6,221	5,278
Other restaurant operating costs	2,989	2,373	8,401	6,626
Preopening costs	129	610	949	1,683
Depreciation and amortization	1,104	937	3,227	2,665
Total restaurant operating costs	25,519	22,758	73,211	64,482
General and administrative costs	2,144	2,069	6,398	5,884
Advertising costs	666	653	1,841	1,850
Franchise costs	8	11	31	32
Asset impairment costs				72
Loss (gain) on restaurant asset sale	44	(9)	5	(26)
INCOME (LOSS) FROM OPERATIONS	1,076	781	513	413
Other Expenses:
Interest expense, net	(202)	(96)	(561)	(270)
Other expense	(1)		(1)
Total other expenses, net	(203)	(96)	(562)	(270)
NET INCOME (LOSS)	873	685	(49)	143
Income attributable to non-controlling interests	(333)	(381)	(912)	(853)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 540	$ 304	$ (961)	$ (710)
BASIC AND DILUTED LOSS PER SHARE:
Net income (loss) attributable to Common Shareholders	$ 0.04	$ 0.02	$ (0.08)	$ (0.06)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic	12,522,778	12,468,326	12,516,822	12,460,467
Diluted	12,723,323	12,665,172	12,516,822	12,460,467
Restaurant sales [Member]
NET REVENUES:
Total net revenues	$ 29,180	$ 25,990	$ 81,281	$ 71,929
Franchise revenues [Member]
NET REVENUES:
Total net revenues	$ 277	$ 273	$ 718	$ 778

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Preferred Stock [Member]	Capital Contributed in Excess of Par Value [Member]	Non-Controlling Interest In Partnerships [Member]	Accumulated Deficit [Member]	Total
BALANCES at Sep. 26, 2017		$ 12	$ 58,939	$ 2,713	$ (24,380)	$ 37,284
BALANCES, shares at Sep. 26, 2017		12,427,280
Stock-based compensation cost			118			118
Restricted stock unit vesting		$ 41,046
Income attributable to non-controlling interests				173		173
Distributions to unrelated limited partners				(256)		(256)
Net loss attributable to Good Times Restaurants Inc and comprehensive loss					(583)	(583)
BALANCES at Dec. 26, 2017		$ 12	59,057	2,630	(24,963)	36,736
BALANCES, shares at Dec. 26, 2017		12,468,326
Stock-based compensation cost			97			97
Income attributable to non-controlling interests				299		299
Distributions to unrelated limited partners				(242)		(242)
Contributions from unrelated limited partners				17		17
Net loss attributable to Good Times Restaurants Inc and comprehensive loss					(431)	(431)
BALANCES at Mar. 27, 2018		$ 12	59,154	2,704	(25,394)	36,476
BALANCES, shares at Mar. 27, 2018		12,468,326
Stock-based compensation cost			88			88
Income attributable to non-controlling interests				381		381
Distributions to unrelated limited partners				(492)		(492)
Contributions from unrelated limited partners				561		561
Net loss attributable to Good Times Restaurants Inc and comprehensive loss					304	304
BALANCES at Jun. 26, 2018		$ 12	59,242	3,154	(25,090)	37,318
BALANCES, shares at Jun. 26, 2018		12,468,326
BALANCES at Sep. 25, 2018		$ 12	59,385	3,238	(25,414)	37,221
BALANCES, shares at Sep. 25, 2018		12,481,162
Stock-based compensation cost			112			112
Restricted stock unit vesting		$ 1				1
Restricted stock grant vesting, shares		40,949
Stock option exercise			3			3
Stock option exercise, shares		667
Income attributable to non-controlling interests				309		309
Distributions to unrelated limited partners				(478)		(478)
Net loss attributable to Good Times Restaurants Inc and comprehensive loss					(1,051)	(1,051)
BALANCES at Dec. 25, 2018		$ 13	59,500	3,069	(26,465)	36,117
BALANCES, shares at Dec. 25, 2018		12,522,778
BALANCES at Sep. 25, 2018		$ 12	59,385	3,238	(25,414)	$ 37,221
BALANCES, shares at Sep. 25, 2018		12,481,162
Stock option exercise, shares						667
Distributions to unrelated limited partners						$ (1,233)
Purchase of non-controlling interest						(788)
BALANCES at Jun. 25, 2019		$ 13	57,548	2,129	(26,375)	33,315
BALANCES, shares at Jun. 25, 2019		12,522,778
BALANCES at Dec. 25, 2018		$ 13	59,500	3,069	(26,465)	36,117
BALANCES, shares at Dec. 25, 2018		12,522,778
Stock-based compensation cost			109			109
Income attributable to non-controlling interests				270		270
Distributions to unrelated limited partners				(408)		(408)
Purchase of non-controlling interest			(2,171)	(788)		(2,959)
Net loss attributable to Good Times Restaurants Inc and comprehensive loss					(450)	(450)
BALANCES at Mar. 25, 2019		$ 13	57,438	2,143	(26,915)	32,679
BALANCES, shares at Mar. 25, 2019		12,522,778
BALANCES at Mar. 26, 2019		$ 13	57,438	2,143	(26,915)	32,679
BALANCES, shares at Mar. 26, 2019		12,522,778
Stock-based compensation cost			110			110
Income attributable to non-controlling interests				333		333
Distributions to unrelated limited partners				(367)		(367)
Contributions from unrelated limited partners				20		20
Net loss attributable to Good Times Restaurants Inc and comprehensive loss					540	540
BALANCES at Jun. 25, 2019		$ 13	$ 57,548	$ 2,129	$ (26,375)	$ 33,315
BALANCES, shares at Jun. 25, 2019		12,522,778

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (49)	$ 143
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	3,417	2,849
Accretion of deferred rent	429	414
Amortization of lease incentive obligation	(374)	(313)
Asset impairment costs		72
Stock-based compensation expense	331	303
Recognition of deferred gain on sale of restaurant building	(27)	(26)
Loss on disposal of restaurant assets	58
Change in:
Receivables and other	1,381	(128)
Inventories	(120)	(59)
Deposits and other	(356)	(59)
Change in:
Accounts payable	367	194
Deferred liabilities	368	1,258
Accrued and other liabilities	(1,023)	(21)
Net cash provided by operating activities	4,402	4,627
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for the purchase of property and equipment	(4,716)	(6,560)
Payments for the purchase of non-controlling interests	(3,009)
Proceeds from sale leaseback transaction		1,397
Proceeds from sale of fixed assets	8
Payments received from franchisees and others	17	10
Net cash used in investing activities	(7,700)	(5,153)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings on notes payable and long-term debt	6,150	1,400
Principal payments on notes payable and long-term debt	(2,480)	(1,613)
Proceeds from stock option exercise	3
Net distributions paid to non-controlling interests	(1,233)	(412)
Net cash provided by (used in) financing activities	2,440	(625)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(858)	(1,151)
CASH AND CASH EQUIVALENTS, beginning of period	3,477	4,337
CASH AND CASH EQUIVALENTS, end of period	2,619	3,186
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	496	276
Change in accounts payable attributable to the purchase of property and equipment	$ 112	$ 942

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jun. 25, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Good Times Restaurants Inc. and its wholly-owned subsidiaries, Bad Daddy’s International, LLC (“BDI”), BD of Colorado, LLC (“BD of Colo”), Bad Daddy’s Franchise Development, LLC (“BDFD”), and Good Times Drive Thru, Inc. (“Drive Thru”), (together referred to as the “Company”, “we” or “us”). All significant intercompany balances and transactions have been eliminated in consolidation. BD of Colo was formed by Good Times Restaurants Inc. in 2013 to develop Bad Daddy’s Burger Bar restaurants in the state of Colorado. Subsequently, BDI and BDFD were acquired by Good Times Restaurants Inc. on May 7, 2015. Combined, these entities compose our Bad Daddy’s operating segment, which as of June 25, 2019, operates twenty-eight company-owned and five joint venture full-service upscale casual dining restaurants under the name Bad Daddy’s Burger Bar, primarily located in Colorado and in the Southeast region of the United States, franchises one restaurant in South Carolina, and licenses the Bad Daddy’s brand for use at an airport Bad Daddy’s restaurant under third-party operations and ownership. Drive Thru commenced operations in 1986 and as of June 25, 2019, operates nineteen Company-owned and seven joint venture drive-thru fast food hamburger restaurants in Colorado under the name Good Times Burgers & Frozen Custard. In addition, Drive Thru has eight franchisee-owned restaurants, with six operating in Colorado and two in Wyoming. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles and practices of the United States of America (“GAAP”) for interim financial information. 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 June 25, 2019 and the results of its operations and its cash flows for the three fiscal quarters ended June 25, 2019 and June 26, 2018. Operating results for the three fiscal quarters ended June 25, 2019 are not necessarily indicative of the results that may be expected for the year ending September 24, 2019. The condensed consolidated balance sheet as of September 25, 2018 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 for the fiscal year ended September 25, 2018. Fiscal Year Advertising Costs

Revenue

Revenue	9 Months Ended
	Jun. 25, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Note 2. Revenue In May 2014, the Financial Accounting Standards Board issued Revenue from Contracts with Customers Revenue Recognition Revenues consist primarily of sales from restaurant operations and franchise revenue, which includes franchisee royalties and contributions to advertising funds. Revenues associated with gift card breakage are immaterial to our financials. The Company recognizes revenue, pursuant to the new and updated standards, when it satisfies a performance obligation by transferring control over a product or service to a customer, typically a restaurant customer or a franchisee/licensee. The Company recognizes revenues in the form of restaurant sales at the time of the sale when payment is made by the customer, as the Company has completed its performance obligation, namely the provision of food and beverage, and the accompanying customer service, during the customer’s visit to the restaurant. The Company sells gift cards to customers and recognizes revenue from gift cards primarily in the form of restaurant revenue. Gift Card breakage, which is recognized when the likelihood of a gift card being redeemed is remote, is determined based upon the Company’s historic redemption patterns, and is immaterial to our overall financial statements. Revenues we receive from our franchise and license agreements include sales-based royalties, and from our franchise agreements also may include advertising fund contributions, area development fees, and franchisee fees. We recognize sales-based royalties from franchisees and licensees as the underlying sales occur. We similarly recognize advertising fund contributions from franchisees as the underlying sales occur. The Company also provides its franchisees with services associated with opening new restaurants and operating them under franchise and development agreements in exchange for area development and franchise fees. The Company would capitalize these fees upon receipt from the franchisee and then would amortize those over the contracted franchise term as the services comprising the performance obligations are satisfied. We have not received material development or franchise fees in the years presented, and the primary performance obligations under existing franchise and development agreements have been satisfied prior to the earliest period presented in our financial statements.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jun. 25, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 3. Goodwill and Intangible Assets The following table presents goodwill and intangible assets as of June 25, 2019 and September 25, 2018: June 25, 2019 September 25, 2018 Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Intangible assets subject to amortization Franchise rights 116 (98 ) 18 116 (81 ) 35 Non-compete agreements 65 (23 ) 42 15 (15 ) - $ 181 $ (121 ) $ 60 $ 131 $ (96 ) $ 35 Indefinite-lived intangible assets: Trademarks $ 3,900 $ - $ 3,900 $ 3,900 $ - $ 3,900 Intangible assets, net $ 4,081 $ (121 ) $ 3,960 $ 4,031 $ (96 ) $ 3,935 Goodwill $ 15,150 $ - $ 15,150 $ 15,150 $ - $ 15,150 The Company had no goodwill impairment losses in the periods presented in the above table or any prior periods. In February 2019 the Company acquired all of the membership interests of three joint venture entities to which the Company was already a party to and the transaction resulted in an increase to non-compete agreements of $50,000, see Note 11. There were no impairments to intangible assets during the three quarters ended June 25, 2019 and June 26, 2018. The aggregate amortization expense related to these intangible assets subject to amortization was approximately $25,000 for the three quarters ended June 25, 2019. The estimated aggregate future amortization expense as of June 25, 2019 is as follows: Remainder of 2019 $ 9 2020 28 2021 17 2022 6 $ 60

Common Stock

Common Stock	9 Months Ended
	Jun. 25, 2019
Stockholders' Equity Note [Abstract]
Common Stock	Note 4. Common Stock On January 26, 2015, the Company filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC") which was declared effective by the SEC on March 25, 2015. The registration statement allows the Company to issue common stock from time to time up to an aggregate amount of $75 million, of which $22,688,052 has been issued.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jun. 25, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 5. Stock-Based Compensation The Company has traditionally maintained incentive compensation plans that include provision for the issuance of equity-based awards. The Company established the 2008 Omnibus Equity Incentive Compensation Plan in 2008 (the “2008 Plan”) and has outstanding awards that were issued under the 2008 Plan. Subsequently, the 2008 Plan expired in 2018 and the Company established a new plan, the 2018 Omnibus Equity Incentive Plan (the “2018 Plan”) during the third fiscal quarter of 2018, pursuant to shareholder approval. Future awards will be issued under the 2018 plan. 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). The company recognizes the impact of forfeitures as forfeitures occur. Our net loss for the three quarters ended June 25, 2019 and June 26, 2018 includes $331,000 and $303,000, 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 the three quarters ended June 25, 2019. 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 quarters ended June 25, 2019, the Company granted a total of 99,832 incentive stock options, from available shares under its 2018 Plan, with exercise prices between $4.66 and $5.00 and per-share weighted average fair values between $2.68 and $3.16. During the three quarters ended June 26, 2018, the Company granted a total of 18,274 incentive stock options, from available shares under its 2008 Plan, as amended, with an exercise prices between $2.70 and $2.73 and per-share weighted average fair values between $1.65 and $1.95. 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: Year-to-Date June 25, 2019 June 26, 2018 Expected term (years) 7.5 7.5 Expected volatility 70.65% to 70.80% 75.33 % to 75.67% Risk-free interest rate 3.01% to 3.10% 2.17% to 2.35% Expected dividends - - 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 quarters ended June 25, 2019 under all plans: Shares Weighted Weighted Avg. Outstanding-at beginning of year 634,647 $ 3.36 Options granted 99,832 $ 4.76 Options exercised (667 ) $ 4.41 Forfeited (10,881 ) $ 3.87 Expired (17,203 ) $ 4.41 Outstanding June 25, 2019 705,728 $ 3.52 6.3 Exercisable June 25, 2019 436,967 $ 3.23 4.9 As of June 25, 2019, the aggregate intrinsic value of the outstanding and exercisable options was approximately $17,000 and $17,000, 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 June 25, 2019, the total remaining unrecognized compensation cost related to non-vested stock options was $570,000 and is expected to be recognized over a weighted average period of approximately 2.3 years. There were 667 stock options exercised during the three quarters ended June 25, 2019 with proceeds of approximately $3,000. There were no stock options exercised during the three quarters ended June 26, 2018. Restricted Stock Units During the three quarters ended June 25, 2019, the Company granted a total of 79,988 restricted stock units from available shares under its 2018 Plan. The shares were issued with a grant date fair market value of $3.95 which is equal to the closing price of the stock on the date of the grant. The restricted stock units vest over three years following the grant date. During the three quarters ended June 26, 2018, the Company granted a total of 37,037 shares of restricted stock from available shares under its 2008 Plan, as amended. The shares were issued with a grant date fair market value of $2.70 which is equal to the closing price of the stock on the date of the grant. The restricted stock grant vests over three years following the grant date. A summary of the status of non-vested restricted stock as of June 25, 2019 is presented below. Shares Grant Date Fair Non-vested shares at beginning of year 149,614 $2.70 to $4.18 Granted 79,988 $3.95 Vested (44,158 ) $2.70 to $4.18 Non-vested shares at June 25, 2019 185,444 $2.70 to $4.18 As of June 25, 2019, there was approximately $452,000 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 1.4 years.

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	9 Months Ended
	Jun. 25, 2019
Debt Disclosure [Abstract]
Notes Payable and Long-Term Debt	Note 6. Notes Payable and Long-Term Debt Cadence Credit Facility The Company maintains a credit agreement with Cadence Bank (“Cadence”) pursuant to which, as amended, Cadence agreed to loan the Company up to $17,000,000 with a maturity date of December 31, 2021 (the “Cadence Credit Facility”). On February 21, 2019 the Cadence Credit Facility was amended, in connection with the RGWP Repurchase (see note 11), to retroactively attribute EBITDA previously attributed to non-controlling interests to the Company for purposes of certain financial covenants. As amended by the various amendments, the Cadence Credit Facility accrues commitment fees on the daily unused balance of the facility at a rate of 0.25%. All borrowings under the Cadence Credit Facility, as amended, bear interest at a variable rate based upon the Company’s election of (i) 2.5% plus the base rate, which is the highest of the (a) Federal Funds Rate plus 0.5%, (b) the Cadence bank publicly-announced prime rate, and (c) LIBOR plus 1.0%, or (ii) LIBOR, with a 0.250% floor, plus 3.5%. Interest is due at the end of each calendar quarter if the Company selects to pay interest based on the base rate and at the end of each LIBOR period if it selects to pay interest based on LIBOR. As of June 25, 2019, the weighted average interest rate applicable to borrowings under the Cadence Credit Facility was 5.9228%. The Cadence Credit Facility, as amended, contains certain affirmative and negative covenants and events of default that the Company considers customary for an agreement of this type, including covenants setting a maximum leverage ratio of 5.35:1, a minimum fixed charge coverage ratio of 1.25:1 and minimum liquidity of $2,000,000. As of June 25, 2019, the Company was in compliance with the covenants under the Cadence Credit Facility. As a result of entering into the Cadence Credit Facility and the various amendments, the Company paid loan origination costs including professional fees of approximately $232,000 and is amortizing these costs over the term of the credit agreement. The obligations under the Cadence Credit Facility are collateralized by a first-priority lien on substantially all of the Company’s assets. As of June 25, 2019, the outstanding balance on borrowings against the facility was $11,150,000. Availability of the Cadence Credit Facility for borrowings is reduced by the outstanding face value of any letters of credit issued under the facility. As of June 25, 2019, the outstanding face value of such letters of credit was $157,500.

Net Income (Loss) per Common Sh

Net Income (Loss) per Common Share	9 Months Ended
	Jun. 25, 2019
Earnings Per Share [Abstract]
Net Income (Loss) per Common Share	Note 7. 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, restricted stock units 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. The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding: Quarter Ended Year-to-Date June 25, 2019 June 26, 2018 June 26, 2019 June 26, 2018 Weighted-average shares outstanding-basic 12,522,778 12,468,326 12,516,822 12,460,467 Effect of potentially dilutive securities: Stock options 15,101 102,506 0 0 Restricted stock units 185,444 94,340 0 0 Weighted-average shares outstanding-diluted 12,723,323 12,665,172 12,516,822 12,460,467 Excluded from diluted weighted-average Antidilutive 654,468 272,348 891,172 747,796

Contingent Liabilities and Liqu

Contingent Liabilities and Liquidity	9 Months Ended
	Jun. 25, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingent Liabilities and Liquidity	Note 8. 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 sub-lessor 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. Additionally, in the normal course of business, there may be various claims in process, matters in litigation, and other contingencies brought against the company by employees, vendors, customers, franchisees, or other parties. Evaluating these contingencies is a complex process that may involve substantial judgment on the potential outcome of such matters, and the ultimate outcome of such contingencies may differ from our current analysis. We review the adequacy of accruals and disclosures related to such contingent liabilities in consultation with legal counsel. While it is not possible to predict the outcome of these claims with certainty, it is management’s opinion that potential losses associated with such contingencies would be immaterial to our financial statements.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets and Goodwill	9 Months Ended
	Jun. 25, 2019
Goodwill and Intangible Asset Impairment [Abstract]
Impairment of Long-Lived Assets and Goodwill	Note 9. Impairment of Long-Lived Assets and Goodwill Long-Lived Assets. On January 30, 2018 the Company closed one Good Times restaurant in Aurora, Colorado. A non-cash impairment charge of $219,000 related to this restaurant was previously taken in the fiscal year ended September 26, 2017 and no additional loss from disposal of assets has been subsequently recognized in the current year, nor is any additional loss expected. We recorded accretion expense recognized as non-cash rent of approximately $48,000 in the fiscal year ended September 25, 2018, and approximately $73,000 in the three quarters ended June 25, 2019, reflecting the expected fair value of future lease costs, net of sublease income, associated with the closing of this restaurant. Subsequent to the end of the fiscal third quarter of 2019, the Company entered into a sublease agreement whereby the Company, upon lease commencement subject to due diligence provisions, will receive sublease income substantially equal to its cash lease costs associated with this location. Given the results of our analysis at March 27, 2018, we identified one restaurant where the expected future cash flows would not be sufficient to recover the carrying value of the associated assets. This restaurant, an additional Good Times restaurant in Aurora, Colorado, was closed on April 22, 2018. We recorded a non-cash charge of $72,000 related to the impairment of this restaurant during the quarter ending March 27, 2018. No additional loss from disposal of assets is expected associated with this property. Prior to its closure, on April 6, 2018, the Company entered into a sublease of this property, the terms of which will provide sublease income substantially equal to the lease costs over the approximate 5 remaining years of the lease. Trademarks. Goodwill.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 25, 2019
Income Tax Disclosure [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 has significant net operating loss carry-forwards from prior years and incurred additional net operating losses during the three quarters ended June 25, 2019 and June 26, 2018. These losses resulted in an increase in the related deferred tax assets; however, valuation allowances were provided which reduced these deferred tax assets to zero; therefore, no income tax provision or benefit was recognized for the three quarters ended June 25, 2019 and June 26, 2018 resulting in an effective income tax rate of 0% for both periods. The Company is subject to taxation in various jurisdictions within the U.S. The Company continues to remain subject to examination by U.S. federal authorities for the years 2016 through 2018. 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 June 25, 2019.

Non-controlling Interests

Non-controlling Interests	9 Months Ended
	Jun. 25, 2019
Noncontrolling Interest [Abstract]
Non-controlling Interests	Note 11. Non-controlling Interests Non-controlling interests are presented as a separate item in the stockholders’ 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 based on the fair value on the deconsolidation date. The equity interests of the unrelated limited partners and members are shown on the accompanying consolidated balance sheet in the stockholders’ equity section as a non-controlling interest and is adjusted each period to reflect the limited partners’ and members’ share of the net income or loss as well as any cash contributions or distributions to or from the limited partners and members for the period. The limited partners’ and members’ share of the net income or loss in the subsidiary is shown as non-controlling interest income or expense in the accompanying consolidated statement of operations. All inter-company accounts and transactions are eliminated. On February 6, 2019, the Company concurrently entered into and closed on a Membership Interest Purchase Agreement with RGWP, LLC (the “RGWP Repurchase”), pursuant to which the Company agreed to acquire all of the remaining membership interests of three entities to which the Company is already a party to and already owned a controlling interest: Bad Daddy’s Burger Bar of Seaboard LLC, Bad Daddy’s Burger Bar of Cary, LLC, and BDBB of Olive Park NC, LLC. The purchase price was approximately $3.0 million. These entities own and operate three Bad Daddy’s Burger Bar restaurants in the greater Raleigh, NC market. The purchase agreement contains various representations, warranties, and covenants of the Seller that are customary in transactions of this nature. The RGWP Repurchase resulted in a $788,000 reduction in non-controlling interests, an increase to non-compete agreements of $50,000 and a $2,171,000 reduction in additional paid in capital. The following table summarizes the activity in non-controlling interests during the quarter ended June 25, 2019: Bad Daddy’s Good Times Total Balance at September 25, 2018 $ 2,861 $ 377 $ 3,238 Income attributable to non-controlling interests 671 241 912 Net distributions to unrelated limited partners (953 ) (280 ) (1,233 ) Purchase of non-controlling interest (788 ) - (788 ) Balance at June 25, 2019 $ 1,791 $ 338 $ 2,129 Our remaining non-controlling interests consist of one joint venture partnership involving seven Good Times restaurants and five joint venture partnerships involving five Bad Daddy’s restaurants.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Jun. 25, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Note 12. Recent Accounting Pronouncements In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” In January 2017, the FASB issued ASU No. 2017-04, “Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment,”

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 25, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 13. Subsequent Events None.

Segment Reporting

Segment Reporting	9 Months Ended
	Jun. 25, 2019
Segment Reporting [Abstract]
Segment Reporting	Note 14. Segment Reporting All of our Good Times Burgers and Frozen Custard restaurants (Good Times) compete in the quick-service industry segment while our Bad Daddy’s Burger Bar restaurants (Bad Daddy’s) compete in the full-service industry segment. 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 consolidated financial statements. The following tables present information about our reportable segments for the respective periods: Quarter Ended Year-to-Date June 25, 2019 June 26, 2018 June 25, 2019 June 26, 2018 Revenues Bad Daddy’s $ 21,181 $ 17,862 $ 59,996 $ 48,985 Good Times 8,276 8,401 22,003 23,722 $ 29,457 $ 26,263 $ 81,999 $ 72,707 Income (loss) from Bad Daddy’s $ 494 $ 430 $ 300 $ 438 Good Times 650 423 505 265 Corporate (68 ) (72 ) (292 ) (290 ) $ 1,076 $ 781 $ 513 $ 413 Capital expenditures Bad Daddy’s $ 609 $ 2,270 $ 3,727 $ 6,259 Good Times 301 113 930 290 Corporate 13 8 59 11 $ 923 $ 2,391 $ 4,716 $ 6,560 June 25, 2019 September 25, 2018 Property and equipment, net Bad Daddy’s $ 30,829 $ 29,642 Good Times 5,594 5,234 Corporate 243 369 $ 36,666 $ 35,245

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jun. 25, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill and Intangible Assets	The following table presents goodwill and intangible assets as of June 25, 2019 and September 25, 2018: June 25, 2019 September 25, 2018 Gross Amount Accumulated Amortization Net Amount Gross Amount Accumulated Amortization Net Amount Intangible assets subject to amortization Franchise rights 116 (98 ) 18 116 (81 ) 35 Non-compete agreements 65 (23 ) 42 15 (15 ) - $ 181 $ (121 ) $ 60 $ 131 $ (96 ) $ 35 Indefinite-lived intangible assets: Trademarks $ 3,900 $ - $ 3,900 $ 3,900 $ - $ 3,900 Intangible assets, net $ 4,081 $ (121 ) $ 3,960 $ 4,031 $ (96 ) $ 3,935 Goodwill $ 15,150 $ - $ 15,150 $ 15,150 $ - $ 15,150
Schedule of Estimated Aggregate Future Amortization Expense For Finite-Lived Intangible Assets	The estimated aggregate future amortization expense as of June 25, 2019 is as follows: Remainder of 2019 $ 9 2020 28 2021 17 2022 6 $ 60

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jun. 25, 2019
Share-based Payment Arrangement [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: Year-to-Date June 25, 2019 June 26, 2018 Expected term (years) 7.5 7.5 Expected volatility 70.65% to 70.80% 75.33 % to 75.67% Risk-free interest rate 3.01% to 3.10% 2.17% to 2.35% Expected dividends - -
Summary of Stock Option Activity under Share Based Compensation Plan	The following table summarizes stock option activity for the three quarters ended June 25, 2019 under all plans: Shares Weighted Weighted Avg. Outstanding-at beginning of year 634,647 $ 3.36 Options granted 99,832 $ 4.76 Options exercised (667 ) $ 4.41 Forfeited (10,881 ) $ 3.87 Expired (17,203 ) $ 4.41 Outstanding June 25, 2019 705,728 $ 3.52 6.3 Exercisable June 25, 2019 436,967 $ 3.23 4.9
Schedule of Non-vested Restricted Stock Activity	A summary of the status of non-vested restricted stock as of June 25, 2019 is presented below. Shares Grant Date Fair Non-vested shares at beginning of year 149,614 $2.70 to $4.18 Granted 79,988 $3.95 Vested (44,158 ) $2.70 to $4.18 Non-vested shares at June 25, 2019 185,444 $2.70 to $4.18

Net Income (Loss) per Common _2

Net Income (Loss) per Common Share (Tables)	9 Months Ended
	Jun. 25, 2019
Net Income Loss Per Common Share
Schedule of Net Loss per Common Share	The following table reconciles basic weighted-average shares outstanding to diluted weighted-average shares outstanding: Quarter Ended Year-to-Date June 25, 2019 June 26, 2018 June 26, 2019 June 26, 2018 Weighted-average shares outstanding-basic 12,522,778 12,468,326 12,516,822 12,460,467 Effect of potentially dilutive securities: Stock options 15,101 102,506 0 0 Restricted stock units 185,444 94,340 0 0 Weighted-average shares outstanding-diluted 12,723,323 12,665,172 12,516,822 12,460,467 Excluded from diluted weighted-average Antidilutive 654,468 272,348 891,172 747,796

Non-controlling Interests (Tabl

Non-controlling Interests (Tables)	9 Months Ended
	Jun. 25, 2019
Noncontrolling Interest [Abstract]
Schedule of Noncontrolling Interest	The following table summarizes the activity in non-controlling interests during the quarter ended June 25, 2019: Bad Daddy’s Good Times Total Balance at September 25, 2018 $ 2,861 $ 377 $ 3,238 Income attributable to non-controlling interests 671 241 912 Net distributions to unrelated limited partners (953 ) (280 ) (1,233 ) Purchase of non-controlling interest (788 ) - (788 ) Balance at June 25, 2019 $ 1,791 $ 338 $ 2,129

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Jun. 25, 2019
Segment Reporting [Abstract]
Schedule of Reportable Segments	The following tables present information about our reportable segments for the respective periods: Quarter Ended Year-to-Date June 25, 2019 June 26, 2018 June 25, 2019 June 26, 2018 Revenues Bad Daddy’s $ 21,181 $ 17,862 $ 59,996 $ 48,985 Good Times 8,276 8,401 22,003 23,722 $ 29,457 $ 26,263 $ 81,999 $ 72,707 Income (loss) from Bad Daddy’s $ 494 $ 430 $ 300 $ 438 Good Times 650 423 505 265 Corporate (68 ) (72 ) (292 ) (290 ) $ 1,076 $ 781 $ 513 $ 413 Capital expenditures Bad Daddy’s $ 609 $ 2,270 $ 3,727 $ 6,259 Good Times 301 113 930 290 Corporate 13 8 59 11 $ 923 $ 2,391 $ 4,716 $ 6,560 June 25, 2019 September 25, 2018 Property and equipment, net Bad Daddy’s $ 30,829 $ 29,642 Good Times 5,594 5,234 Corporate 243 369 $ 36,666 $ 35,245

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Advertising Costs	$ 240	$ 263

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Revenue from Contract with Customer [Abstract]
Advertising Costs	$ 240	$ 263

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Feb. 28, 2019	Jun. 25, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets		$ 25
Three Joint Venture Entities [Member]
Finite-Lived Intangible Assets [Line Items]
Increase to non-compete agreements	$ 50

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Intangible Assets Subject to Amortization) (Details) - USD ($) $ in Thousands	Jun. 25, 2019	Sep. 25, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 181	$ 131
Accumulated Amortization	(121)	(96)
Net Carrying Amount	60	35
Franchise rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	116	116
Accumulated Amortization	(98)	(81)
Net Carrying Amount	18	35
Non-compete agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	65	15
Accumulated Amortization	(23)	(15)
Net Carrying Amount	$ 42

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Indefinite-lived Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 25, 2019	Sep. 25, 2018
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 3,900	$ 3,900

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Schedule of Goodwill and Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 25, 2019	Sep. 25, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, gross carrying amount	$ 4,081	$ 4,031
Accumulated Amortization	(121)	(96)
Intangible Assets, net carrying amount	3,960	3,935
Goodwill, gross carrying amount	15,150	15,150
Goodwill, Accumulated Amortization
Goodwill, net carrying amount	$ 15,150	$ 15,150

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets (Estimated Aggregate Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 25, 2019	Sep. 25, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 9
2020	28
2021	17
2022	6
Net Carrying Amount	$ 60	$ 35

Common Stock (Details)

Common Stock (Details)	Mar. 25, 2015USD ($)
Stockholders' Equity Note [Abstract]
Aggregate amount of stock value authorized by SEC to be issued	$ 75,000,000
Aggregate amount of stock value issued under S-3	$ 22,688,052

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	$ 331	$ 303
Stock options granted, shares	99,832
Stock options granted, exercise price	$ 4.76
Stock options exercised, shares	667
Proceeds from stock option exercises	$ 3
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate Intrinsic Value, Outstanding	17
Aggregate Intrinsic Value, Exercisable	17
Remaining total unrecognized compensation cost related to unvested stock-based arrangements	$ 570
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition	2 years 3 months 19 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted, shares	79,988	37,037
Restricted stock granted, weighted average grant date fair value per share	$ 3.95	$ 2.70
Vesting period	3 years	3 years
Remaining total unrecognized compensation cost related to unvested stock-based arrangements	$ 452
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized, period for recognition	1 year 4 months 24 days
Incentive Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, shares	99,832	18,274
Incentive Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, exercise price	$ 4.66	$ 2.70
Stock options granted, per-share weighted average fair value	2.68	1.65
Incentive Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, exercise price	5	2.73
Stock options granted, per-share weighted average fair value	$ 3.16	$ 1.95

Stock-Based Compensation (Weigh

Stock-Based Compensation (Weighted Average Assumptions Used to Estimate Fair Value of Stock Option Grants) (Details) - Incentive and Non-Statutory Stock Options [Member] - USD ($)	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	7 years 6 months	7 years 6 months
Expected volatility, minimum	70.65%	75.33%
Expected volatility, maximum	70.80%	75.67%
Risk-free interest rate, minimum	3.01%	2.17%
Risk-free interest rate, maximum	3.10%	2.35%
Expected dividends

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity under Share Based Compensation Plan) (Details)	9 Months Ended
	Jun. 25, 2019$ / sharesshares
Shares
Outstanding-at beginning of year | shares	634,647
Options granted | shares	99,832
Options exercised | shares	(667)
Forfeited | shares	(10,881)
Expired | shares	(17,203)
Outstanding June 25, 2019 | shares	705,728
Exercisable June 25, 2019 | shares	436,967
Weighted Average Exercise Price
Outstanding-at beginning of year | $ / shares	$ 3.36
Options granted | $ / shares	4.76
Options exercised | $ / shares	4.41
Forfeited | $ / shares	3.87
Expired | $ / shares	4.41
Outstanding June 25, 2019 | $ / shares	3.52
Exercisable June 25, 2019 | $ / shares	$ 3.23
Weighted Avg. Remaining Contractual Life (Yrs.)
Outstanding June 25, 2019	6 years 3 months 19 days
Exercisable June 25, 2019	4 years 10 months 25 days

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Non-vested Restricted Stock Activity) (Details) - Restricted Stock [Member] - $ / shares	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Shares
Non-vested shares at beginning of year	149,614
Granted	79,988	37,037
Vested	(44,158)
Non-vested shares at June 25, 2019	185,444
Grant Date Fair Value Per Share
Granted	$ 3.95	$ 2.70
Minimum [Member]
Grant Date Fair Value Per Share
Non-vested shares at beginning of year	2.70
Vested	2.70
Non-vested shares at June 25, 2019	2.70
Maximum [Member]
Grant Date Fair Value Per Share
Non-vested shares at beginning of year	4.18
Vested	4.18
Non-vested shares at June 25, 2019	$ 4.18

Notes Payable and Long-Term D_2

Notes Payable and Long-Term Debt (Details) - Cadence Credit Facility [Member]	9 Months Ended
	Jun. 25, 2019USD ($)
Debt Instrument [Line Items]
Loan agreement, increase amount	$ 17,000,000
Interest rate	0.25%
Weighted average interest rate	5.9228%
Interest rate description	All borrowings under the Cadence Credit Facility, as amended, bear interest at a variable rate based upon the Company's election of (i) 2.5% plus the base rate, which is the highest of the (a) Federal Funds Rate plus 0.5%, (b) the Cadence bank publicly-announced prime rate, and (c) LIBOR plus 1.0%, or (ii) LIBOR, with a 0.250% floor, plus 3.5%. Interest is due at the end of each calendar quarter if the Company selects to pay interest based on the base rate and at the end of each LIBOR period if it selects to pay interest based on LIBOR.
Payment of debt issuance costs	$ 232,000
Maturity date	Dec. 31, 2021
Minimum liquidity amount	$ 2,000,000
Letters of credit outstanding, amount	11,150,000
Letters of credit outstanding face value	$ 157,500

Net Income (Loss) per Common _3

Net Income (Loss) per Common Share (Schedule of Weighted Average Shares Outstanding) (Details) - shares	3 Months Ended		9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018	Jun. 25, 2019	Jun. 26, 2018
Earnings Per Share [Abstract]
Weighted-average shares outstanding-basic	12,522,778	12,468,326	12,516,822	12,460,467
Effect of potentially dilutive securities
Stock options	15,101	102,506	0	0
Restricted stock units	185,444	94,340	0	0
Weighted-average shares outstanding-diluted	12,723,323	12,665,172	12,516,822	12,460,467
Excluded from diluted weighted-average shares outstanding:
Antidilutive	654,468	272,348	891,172	747,796

Impairment of Long-Lived Asse_2

Impairment of Long-Lived Assets and Goodwill (Details) $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Apr. 22, 2018USD ($)	Jan. 30, 2018USD ($)	Jun. 25, 2019USD ($)	Jun. 26, 2018USD ($)	Jun. 25, 2019USD ($)restaurants	Jun. 26, 2018USD ($)	Sep. 25, 2018USD ($)
Impaired Long-Lived Assets Held and Used [Line Items]
Number of restaurants impaired | restaurants					2
Goodwill			$ 15,150		$ 15,150		$ 15,150
Non-cash impairment charge	$ 72	$ 219				$ 72
Loss from disposal of assets
Rent expense		$ 48			73
Good Times [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill			96		96
Bad Daddy's Franchise Development, LLC [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill			$ 15,054		$ 15,054

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Income Tax Examination [Line Items]
Deferred tax assets	$ 0
Income tax provision or benefit	$ 0	$ 0
Effective income tax rate	0.00%	0.00%
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	2016
Maximum [Member]
Income Tax Examination [Line Items]
Years subject to income tax examination	2018

Non-controlling Interests (Narr

Non-controlling Interests (Narrative) (Details) - USD ($) $ in Thousands	Feb. 06, 2019	Mar. 25, 2019	Jun. 25, 2019
Noncontrolling Interest [Line Items]
Non-controlling interests		$ (2,959)	$ (788)
Bad Daddy's [Member]
Noncontrolling Interest [Line Items]
Purchase price			$ 3,000
RGWP [Member]
Noncontrolling Interest [Line Items]
Increase to non-compete agreements	$ 50
Increase decrease in additional paid in capital	2,171
Non-controlling interests	$ 788

Non-controlling Interests (Sche

Non-controlling Interests (Schedule of Noncontrolling Interests) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 25, 2019	Mar. 25, 2019	Dec. 25, 2018	Jun. 26, 2018	Mar. 27, 2018	Dec. 26, 2017	Jun. 25, 2019
Noncontrolling Interest [Line Items]
Balance at September 25, 2018			$ 3,238				$ 3,238
Income attributable to non-controlling interests							912
Net distributions to unrelated limited partners	$ (367)	$ (408)	(478)	$ (492)	$ (242)	$ (256)	(1,233)
Purchase of non-controlling interest		$ (2,959)					(788)
Balance at June 25, 2019	2,129						2,129
Bad Daddy's [Member]
Noncontrolling Interest [Line Items]
Balance at September 25, 2018			2,861				2,861
Income attributable to non-controlling interests							671
Net distributions to unrelated limited partners							(953)
Purchase of non-controlling interest							(788)
Balance at June 25, 2019	1,791						1,791
Good Times [Member]
Noncontrolling Interest [Line Items]
Balance at September 25, 2018			$ 377				377
Income attributable to non-controlling interests							241
Net distributions to unrelated limited partners							(280)
Purchase of non-controlling interest
Balance at June 25, 2019	$ 338						$ 338

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018
Accounting Changes and Error Corrections [Abstract]
Advertising Costs	$ 240	$ 263

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 25, 2019	Jun. 26, 2018	Jun. 25, 2019	Jun. 26, 2018	Sep. 25, 2018
Segment Reporting Information [Line Items]
Revenues	$ 29,457	$ 26,263	$ 81,999	$ 72,707
Income (loss) from operations	1,076	781	513	413
Capital expenditures	923	2,391	4,716	6,560
Property and equipment, net	36,666		36,666		$ 35,245
Bad Daddys [Member]
Segment Reporting Information [Line Items]
Revenues	21,181	17,862	59,996	48,985
Income (loss) from operations	494	430	300	438
Capital expenditures	609	2,270	3,727	6,259
Property and equipment, net	30,829		30,829		29,642
Good Times [Member]
Segment Reporting Information [Line Items]
Revenues	8,276	8,401	22,003	23,722
Income (loss) from operations	650	423	505	265
Capital expenditures	301	113	930	290
Property and equipment, net	5,594		5,594		5,234
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Income (loss) from operations	(68)	(72)	(292)	(290)
Capital expenditures	13	$ 8	59	$ 11
Property and equipment, net	$ 243		$ 243		$ 369