Good Times Restaurants (GTIM) 10-Q 3 Aug 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 27, 2023	Jul. 25, 2023
Document Information [Line Items]
Entity Central Index Key	0000825324
Entity Registrant Name	Good Times Restaurants Inc.
Amendment Flag	false
Current Fiscal Year End Date	--09-26
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 2023
Document Transition Report	false
Entity File Number	0-18590
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	84-1133368
Entity Address, Address Line One	651 CORPORATE CIRCLE
Entity Address, City or Town	GOLDEN
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80401
City Area Code	303
Local Phone Number	384-1400
Title of 12(b) Security	Common Stock $.001 par value
Trading Symbol	GTIM
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		11,560,197

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 27, 2023	Sep. 27, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 3,684	$ 8,906
Receivables	729	694
Prepaid expenses and other	1,414	888
Inventories	1,353	1,387
Total current assets	7,180	11,875
PROPERTY AND EQUIPMENT:
Land and building	4,670	4,670
Leasehold improvements	37,520	35,906
Fixtures and equipment	31,730	30,664
Total property and equipment	73,920	71,240
Less accumulated depreciation and amortization	(52,429)	(48,989)
Total net property and equipment	21,491	22,251
OTHER ASSETS:
Operating lease right-of-use assets, net	41,283	42,463
Deferred tax assets	11,398	0
Deposits and other assets	285	166
Trademarks	3,900	3,900
Other intangibles, net	14	20
Goodwill	5,713	5,713
Total other assets	62,593	52,262
TOTAL ASSETS:	91,264	86,388
CURRENT LIABILITIES:
Accounts payable	1,022	628
Deferred income	72	48
Operating lease liabilities, current	5,673	5,430
Other accrued liabilities	6,834	6,791
Total current liabilities	13,601	12,897
LONG-TERM LIABILITIES:
Operating lease liabilities, net of current portion	43,683	45,544
Deferred revenues and other liabilities	137	159
Total long-term liabilities	43,820	45,703
SHAREHOLDERS’ EQUITY:
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding as of June 27, 2023, and September 27, 2022	0	0
Common stock, $.001 par value; 50,000,000 shares authorized; 12,977,433 issued; 11,622,727 and 12,274,351 outstanding as of June 27, 2023 and September 27, 2022, respectively	13	13
Capital contributed in excess of par value	56,768	59,427
Treasury stock, at cost; 1,354,706 and 692,798 shares as of June 27, 2023, and September 27, 2022, respectively	(4,354)	(2,634)
Accumulated deficit	(18,985)	(30,321)
Total Good Times Restaurants Inc. shareholders' equity	33,442	26,485
Non-controlling interests	401	1,303
Total shareholders’ equity	33,843	27,788
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 91,264	$ 86,388

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Jun. 27, 2023	Sep. 27, 2022
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	12,977,433	12,977,433
Common stock, shares outstanding (in shares)	11,622,727	12,274,351
Treasury stock, shares (in shares)	1,354,706	692,798

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022	Jun. 27, 2023	Jun. 28, 2022
NET REVENUES:
Total net revenues	$ 35,620	$ 36,497	$ 103,799	$ 103,010
RESTAURANT OPERATING COSTS:
Food and packaging costs	10,923	11,767	32,185	32,450
Payroll and other employee benefit costs	11,940	12,295	35,477	35,027
Restaurant occupancy costs	2,432	2,383	7,318	7,088
Other restaurant operating costs	4,811	4,753	14,129	13,558
Preopening costs	80	0	110	50
Depreciation and amortization	919	993	2,740	2,990
Total restaurant operating costs	31,105	32,191	91,959	91,163
General and administrative costs	2,365	2,384	7,040	7,677
Advertising costs	751	807	2,423	2,260
Impairment of long-lived assets	965	303	1,041	2,056
Gain on restaurant asset sale and lease termination	(10)	(9)	(32)	(666)
Litigation contingencies	0	0	0	332
INCOME FROM OPERATIONS:	444	821	1,368	188
Interest and other expense, net	(18)	(12)	(56)	(41)
NET INCOME BEFORE INCOME TAXES:	426	809	1,312	147
Provision for income taxes	551	(1)	10,503	(9)
NET INCOME:	977	808	11,815	138
Income attributable to non-controlling interests	(135)	(339)	(479)	(1,489)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHAREHOLDERS	$ 842	$ 469	$ 11,336	$ (1,351)
NET INCOME (LOSS) PER COMMON SHARE:
Basic (in dollars per share)	$ 0.07	$ 0.04	$ 0.96	$ (0.11)
Diluted (in dollars per share)	$ 0.07	$ 0.04	$ 0.95	$ (0.11)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	11,700,044	12,457,251	11,853,441	12,502,449
Diluted (in shares)	11,769,286	12,560,658	11,910,491	12,502,449
Service [Member]
NET REVENUES:
Total net revenues	$ 35,376	$ 36,265	$ 103,123	$ 102,305
Franchise [Member]
NET REVENUES:
Total net revenues	$ 244	$ 232	$ 676	$ 705

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Treasury Stock, Common [Member]	Common Stock Outstanding [Member]	Additional Paid-in Capital [Member]	Noncontrolling Interest [Member]	Retained Earnings [Member]	Total
BALANCES (in shares) at Sep. 28, 2021	376,351	12,512,072
BALANCES at Sep. 28, 2021	$ (1,608)	$ 13	$ 59,021	$ 1,124	$ (27,680)	$ 30,870
Stock-based compensation cost	$ 0	$ 0	95	0	0	95
Restricted stock unit vesting (in shares)	0	13,366
Restricted stock unit vesting	$ 0	$ 0	0	0	0	0
Stock Option Exercise (in shares)	0	5,000
Stock Option Exercise	$ 0	$ 0	6	0	0	6
Income	0	0	0	920	0	920
Distributions	0	0	0	(632)	0	(632)
Net Income attributable to common shareholders and comprehensive income	$ 0	$ 0	0	0	330	330
Common stock grants (in shares)	0	9,256
Common stock grants	$ 0	$ 0	0	0	0	0
BALANCES (in shares) at Dec. 28, 2021	376,351	12,539,694
BALANCES at Dec. 28, 2021	$ (1,608)	$ 13	59,122	1,412	(27,350)	31,589
BALANCES (in shares) at Sep. 28, 2021	376,351	12,512,072
BALANCES at Sep. 28, 2021	$ (1,608)	$ 13	59,021	1,124	(27,680)	$ 30,870
Stock Option Exercise (in shares)						28,797
Income						$ 1,489
BALANCES (in shares) at Jun. 28, 2022	545,999	12,393,843
BALANCES at Jun. 28, 2022	$ (2,213)	$ 13	59,318	1,376	(29,031)	29,463
BALANCES (in shares) at Dec. 28, 2021	376,351	12,539,694
BALANCES at Dec. 28, 2021	$ (1,608)	$ 13	59,122	1,412	(27,350)	31,589
Stock-based compensation cost	$ 0	$ 0	52	0	0	52
Restricted stock unit vesting (in shares)	0	0
Restricted stock unit vesting	$ 0	$ 0	0	0	0	0
Stock Option Exercise (in shares)	0	23,797
Stock Option Exercise	$ 0	$ 0	84	0	0	84
Repurchases of common stock (in shares)	75,900	(75,900)
Repurchases of common stock	$ (331)	$ 0	0	0	0	(331)
Income	0	0	0	230	0	230
Distributions	0	0	0	(112)	0	(112)
Net Income attributable to common shareholders and comprehensive income	$ 0	$ 0	0	0	(2,150)	(2,150)
BALANCES (in shares) at Mar. 29, 2022	452,251	12,487,591
BALANCES at Mar. 29, 2022	$ (1,939)	$ 13	59,258	1,530	(29,500)	29,362
Stock-based compensation cost	$ 0	$ 0	60	0	0	60
Repurchases of common stock (in shares)	93,748	(93,748)
Repurchases of common stock	$ (274)	$ 0	0	0	0	(274)
Income	0	0	0	339	0	339
Distributions	0	0	0	(493)	0	(493)
Net Income attributable to common shareholders and comprehensive income	$ 0	$ 0	0	0	469	469
BALANCES (in shares) at Jun. 28, 2022	545,999	12,393,843
BALANCES at Jun. 28, 2022	$ (2,213)	$ 13	59,318	1,376	(29,031)	29,463
BALANCES (in shares) at Sep. 27, 2022	692,798	12,274,351
BALANCES at Sep. 27, 2022	$ (2,634)	$ 13	59,427	1,303	(30,321)	27,788
Stock-based compensation cost	$ 0	$ 0	46	0	0	46
Restricted stock unit vesting (in shares)	0	8,284
Restricted stock unit vesting	$ 0	$ 0	(92)	0	0	(92)
Stock Option Exercise (in shares)	0	2,000
Stock Option Exercise	$ 0	$ 0	5	0	0	5
Repurchases of common stock (in shares)	371,395	(371,395)
Repurchases of common stock	$ (873)	$ 0	0	0	0	(873)
Income	0	0	0	222	0	222
Distributions	0	0	0	(172)	0	(172)
Contributions	0	0	0	13	0	13
Net Income attributable to common shareholders and comprehensive income	$ 0	$ 0	0	0	(127)	(127)
BALANCES (in shares) at Dec. 27, 2022	1,064,193	11,913,240
BALANCES at Dec. 27, 2022	$ (3,507)	$ 13	59,386	1,366	(30,448)	26,810
BALANCES (in shares) at Sep. 27, 2022	692,798	12,274,351
BALANCES at Sep. 27, 2022	$ (2,634)	$ 13	59,427	1,303	(30,321)	$ 27,788
Stock Option Exercise (in shares)						2,000
Income						$ 479
Distributions						(563)
Contributions						13
Purchase of Non-controlling Interests						(831)
BALANCES (in shares) at Jun. 27, 2023	1,354,706	11,622,727
BALANCES at Jun. 27, 2023	$ (4,354)	$ 13	56,768	401	(18,985)	33,843
BALANCES (in shares) at Dec. 27, 2022	1,064,193	11,913,240
BALANCES at Dec. 27, 2022	$ (3,507)	$ 13	59,386	1,366	(30,448)	26,810
Stock-based compensation cost	$ 0	$ 0	43	0	0	43
Repurchases of common stock (in shares)	166,890	(166,890)
Repurchases of common stock	$ (467)	$ 0	0	0	0	(467)
Income	0	0	0	122	0	122
Distributions	0	0	0	(294)	0	(294)
Net Income attributable to common shareholders and comprehensive income	0	0	0	0	10,621	10,621
Purchase of Non-controlling Interests	$ 0	$ 0	(2,675)	(831)	0	(3,506)
BALANCES (in shares) at Mar. 28, 2023	1,231,083	11,746,350
BALANCES at Mar. 28, 2023	$ (3,974)	$ 13	56,754	363	(19,827)	33,329
Stock-based compensation cost	$ 0	$ 0	14	0	0	14
Repurchases of common stock (in shares)	123,623	(123,623)
Repurchases of common stock	$ (380)	$ 0	0	0	0	(380)
Income	0	0	0	135	0	135
Distributions	0	0	0	(97)	0	(97)
Net Income attributable to common shareholders and comprehensive income	$ 0	$ 0	0	0	842	842
BALANCES (in shares) at Jun. 27, 2023	1,354,706	11,622,727
BALANCES at Jun. 27, 2023	$ (4,354)	$ 13	$ 56,768	$ 401	$ (18,985)	$ 33,843

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 11,815,000	$ 138,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,809,000	3,129,000
Impairment of long-lived assets	1,041,000	2,056,000
Stock-based compensation expense	103,000	207,000
Loss (gain) on lease termination and disposal of assets	44,000	(642,000)
Recognition of deferred gain on sale of restaurant building	(76,000)	(24,000)
Deferred income taxes	(10,510,000)	9,000
Changes in operating assets and liabilities:
Receivables and other	(35,000)	(18,000)
Prepaid expense	(526,000)	(742,000)
Inventories	34,000	(62,000)
Deposits and other	(119,000)	70,000
Accounts payable	444,000	(529,000)
Net change in ROU assets and operating lease liabilities	(438,000)	(297,000)
Accrued and other liabilities	121,000	1,123,000
Net cash provided by operating activities	4,707,000	4,418,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for the purchase of property and equipment	(3,178,000)	(1,623,000)
Acquisition of restaurant from franchisee, net of cash acquired	0	(728,000)
Proceeds from sale of fixed assets	0	745,000
Purchase of non-controlling interests	(4,394,000)	0
Net cash used in investing activities	(7,572,000)	(1,606,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payment for the purchase of treasury stock	(1,720,000)	(605,000)
Restricted stock vesting settled in cash	(92,000)	0
Proceeds from stock option exercise	5,000	90,000
Distributions to non-controlling interests	(563,000)	(1,449,000)
Contributions from non-controlling interests	13,000	0
Net cash used in financing activities	(2,357,000)	(1,964,000)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(5,222,000)	848,000
CASH AND CASH EQUIVALENTS, beginning of period	8,906,000	8,856,000
CASH AND CASH EQUIVALENTS, end of period	3,684,000	9,704,000
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	15,000	14,000
Change in accounts payable attributable to the purchase of property and equipment	$ (50,000)	$ (214,000)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	Note 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Good Times Restaurants Inc. (the “Company”) and its wholly owned subsidiaries as well as one five January 2023. The Company operates and licenses full-service restaurants under the brand Bad Daddy s Burger Bar The Company operates and franchises drive-thru fast-food hamburger restaurants under the brand Good Times Burgers & Frozen Custard 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 27, 2023 June 27, 2023 June 28, 2022. June 27, 2023 not may September 26, 2023. September 27, 2022 not 10 September 27, 2022. Fiscal Year 52/53 September. 52 13 53 first 14 June 27, 2023 June 28, 2022 13 Reclassification no Advertising Costs three June 27, 2023 June 28, 2022, Receivables third June 27, 2023, June 28, 2022,

Note 2 - Recent Accounting Pron

Note 2 - Recent Accounting Pronouncements	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	Note 2. Recent Accounting Pronouncements The Company reviewed all recently issued accounting pronouncements and concluded that they were either not not

Note 3 - Revenue

Note 3 - Revenue	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 3. Revenue Revenue Recognition Revenues consist primarily of sales from restaurant operations and franchise revenue, which includes franchisee contributions to advertising funds. Revenues associated with gift card breakage are immaterial to our financials. The Company recognizes revenue 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 not

Note 4 - Goodwill and Intangibl

Note 4 - Goodwill and Intangible Assets	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 4. Goodwill and Intangible Assets The following table presents goodwill and intangible assets as of June 27, 2023 September 27, 2022 ( June 27, 2023 September 27, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Non-compete agreements $ 25 $ (11 ) $ 14 $ 25 $ (5 ) $ 20 Indefinite-lived intangible assets: Trademarks 3,900 - 3,900 3,900 - 3,900 Intangible assets, net $ 3,925 $ (11 ) $ 3,914 $ 3,925 $ (5 ) $ 3,920 Goodwill $ 5,713 $ - $ 5,713 $ 5,713 $ - $ 5,713 Goodwill represents the excess of cost over fair value of the assets of businesses the Company acquired. Goodwill is not 1 2 three June 27, 2023 three June 28, 2022. June 27, 2023 June 28, 2022,

Note 5 - Stock-based Compensati

Note 5 - Stock-based Compensation	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	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 2008 “2008 2008 2008 2018 2018 “2018 2018 May 24, 2018. 2018 February 8, 2022 2018 2018 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 income for the three June 27, 2023 June 28, 2022 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 this valuation method and the approach used to develop the underlying assumptions are appropriate in calculating the fair values of the stock options awards granted during the three June 27, 2023. not 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: Three Quarters Ended June 27, 2023 Incentive and Non-Qualified Stock Options Three Quarters Ended June 28, 2022 Incentive and Non-Qualified Stock Options Expected term (years) 7.5 6.5 Expected volatility 60.0% - 60.2% 61.31% Risk-free interest rate 3.33% - 4.21% 1.76% 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 United States treasury yields effective at the time of grant corresponding to the expected term of the options. The expected term is the number of years we estimate that options will be outstanding prior to exercise considering vesting schedules and historic exercise patterns. The following table summarizes stock option activity for the three June 27, 2023 Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Yrs) Outstanding at beginning of year 470,161 $ 3.97 Options granted 45,000 $ 2.81 Options exercised (2,000 ) $ 2.31 Options Forfeited (64,137 ) $ 3.43 Outstanding June 27, 2023 449,024 $ 3.94 5.0 Exercisable June 27, 2023 334,103 $ 3.66 4.6 As of June 27, 2023, $296,000. As of June 27, 2023, There were 45,000 stock options awarded during the three June 27, 2023. During the three June 28, 2022, 5635 4 June 27, 2023, There were 2,000 stock options exercised resulting in the issuance of 2,000 shares during the three June 27, 2023 three June 28, 2022 Restricted Stock Units There were 25,750 restricted stock units granted during the three June 27, 2023 three June 28, 2022. A summary of the status of non-vested restricted stock units as of June 27, 2023 Shares Grant Date Fair Value Per Share Non-vested units at beginning of year 73,336 $1.54 to $4.50 Units granted 25,750 $2.29 Units vested (46,336 ) $1.54 Units forfeited (2,750 ) $2.29 to $4.50 Non-vested units at June 27, 2023 50,000 $2.29 to $4.50 As of June 27, 2023, Restricted and Unrestricted Common Stock Awards No grants of restricted or unrestricted common stock were made during the three June 27, 2023. three June 28, 2022

Note 6 - Gain on Sale of Assets

Note 6 - Gain on Sale of Assets and Lease Termination	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	Note 6. Gain on Sale of Assets and Lease Termination For the three June 27, 2023, three June 28, 2022 one

Note 7 - Prepaid Expenses and O

Note 7 - Prepaid Expenses and Other Current Assets	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Prepaid Expenses and Other Current Assets [Text Block]	Note 7. Prepaid expense and other current assets Prepaid expenses and other current assets consist of the following as of: June 27, 2023 September 27, 2022 Prepaid Rent $ 779 $ 765 Prepaid Insurance 382 3 Other 253 120 Total $ 1,414 $ 888

Note 8 - Other Accrued Liabilit

Note 8 - Other Accrued Liabilities	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	Note 8. Other Accrued Liabilities Other accrued liabilities consist of the following as of: June 27, 2023 September 27, 2022 Wages and other employee benefits $ 3,116 $ 2,773 Taxes, other than income taxes 1,215 1,166 Gift card liability, net of breakage 1,229 985 General expense accrual and other 1,274 1,867 Total $ 6,834 $ 6,791

Note 9 - Notes Payable and Long

Note 9 - Notes Payable and Long-term Debt	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 9. Notes Payable and Long-Term Debt Cadence Credit Facility The Company and its wholly owned subsidiaries (the “Subsidiaries”) maintain an amended and restated credit agreement with Cadence Bank (“Cadence”) pursuant to which, Cadence agreed to loan the Company up to $8,000,000, has a maturity date of April 20, 2028 ( may may not no no Proceeds from the Cadence Credit Facility, if and when drawn, may The Cadence Credit Facility includes customary affirmative and negative covenants and events of default. The Cadence Credit Facility also requires the Company to maintain various financial condition ratios, including minimum liquidity, an amended maximum leverage ratio and an amended minimum fixed charge coverage ratio. In addition, to the extent the aggregate outstanding balance under the Revolver exceeds $4.0 million, the Company is required to meet a new specified leverage ratio, on a pro forma basis, before making further borrowings as well as certain restricted payments, investments and growth capital expenditures. In connection with the Cadence Credit Facility, the Company and the Subsidiaries entered into an Amended and Restated Security and Pledge Agreement (the “Security Agreement”) with Cadence. Under the Security Agreement, the Cadence Credit Facility is secured by a first As of June 27, 2023,

Note 10 - Net Income (Loss) Per

Note 10 - Net Income (Loss) Per Common Share	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 10. 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 27, 2023 June 28, 2022 June 27, 2023 June 28, 2022 Weighted-average shares outstanding basic 11,700,044 12,457,251 11,853,441 12,502,449 Effect of potentially dilutive securities: Stock options 19,242 29,071 7,050 - Restricted stock units 50,000 74,336 50,000 - Weighted-average shares outstanding diluted 11,769,286 12,560,658 11,910,491 12,502,449 Excluded from diluted weighted average shares outstanding: Antidilutive 345,691 387,378 354,024 249,752

Note 11 - Contingent Liabilitie

Note 11 - Contingent Liabilities and Liquidity	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 11. Contingent Liabilities and Liquidity The failure of banks where we maintain deposits in excess of the limits insured by FDIC or other government or quasi-government agencies could materially affect our financial position and operating results. The Company maintains deposits with certain banks in excess of the maximum insured limits by the FDIC. The significant interest rate increases by the Federal Reserve have caused recent bank failures. Although in certain of those cases, depositors have been protected from loss by government intervention, no There may may may not The Company is the defendant in a lawsuit styled as White Winston Select Asset Funds, LLC and GT Acquisition Group, Inc. v. Good Times Restaurants, Inc., arising from the failed negotiations between plaintiffs and the Company for the sale of the Good Times Drive Thru subsidiary to plaintiffs. The lawsuit was initially filed on September 24, 2019 November 5, 2019. July 30, 2021, April 11, 2022, not May 5, 2022, May 25, 2022, October 24, 2022. January 25, 2023, The plaintiffs filed a notice of appeal of the Court’s January 25, 2023 May 18, 2023, June 23, 2023, August 7, 2023. August 28, 2023. may The Company previously recorded an accrual for contingent litigation expense in the fiscal quarter ended March 28, 2022

Note 12 - Leases

Note 12 - Leases	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	Note 12. Leases The Company determines if a contract contains a lease at inception. The Company's material long-term operating lease agreements are for the land and buildings for our restaurants as well as our corporate office. The initial lease terms range from 10 years to 20 years, most of which include renewal options of 10 to 15 years. The lease term is generally the minimum of the non-cancelable period or the lease term including the renewal options which are reasonably certain of being exercised up to a term of approximately 20 years. The Company reassesses the number of remaining renewal options to include in a lease term for a specific lease when it exercises an option to extend such lease. Operating lease assets and liabilities are recognized at the lease commencement date for material leases with a term of greater than 12 not Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepaid or accrued lease payments, initial direct costs and lease incentives. Lease incentives are recognized when earned and reduce our operating lease asset related to the lease. They are amortized through the operating lease assets as reductions of rent expense over the lease term. Operating lease expense is recognized on a straight-line basis over the lease term. Certain of the Company’s operating leases contain clauses that provide for contingent rent based on a percentage of sales greater than certain specified target amounts. Variable lease payments that do not 12 Some of the leases provide for base rent, plus additional rent based on gross sales, as defined in each lease agreement. The Company is also generally obligated to pay certain real estate taxes, insurance and common area maintenance charges, and various other expenses related to properties, which are expensed as incurred. Components of operating lease costs are as follows for the fiscal quarters ended June 27, 2023 June 28, 2022: Lease cost Classification June 27, 2023 June 28, 2022 Operating lease cost Occupancy, Other restaurant operating costs and General and administrative expenses, net $ 1,824 $ 1,866 Variable lease cost Occupancy 60 27 Sublease income Occupancy (137 ) (136 ) $ 1,747 $ 1,757 Weighted average lease term and discount rate are as follows: June 27, 2023 June 28, 2022 Weighted average remaining lease term (in years) 8.16 8.85 Weighted average discount rate 5.0 % 5.0 % Supplemental cash flow disclosures for the three June 27, 2023: June 27, 2023 June 28, 2022 Cash paid for operating lease liabilities $ 5,771 $ 5,383 Non-cash operating lease assets obtained in exchange for operating lease liabilities $ 1,201 $ 734 Supplemental balance sheet disclosures: June 27, 2023 September 27, 2022 Right-of-use assets Operating lease assets $ 41,283 $ 42,463 Current lease liabilities Operating lease liability $ 5,673 $ 5,430 Non-current lease liabilities Operating lease liability, less current portion 43,683 45,544 Total lease liabilities $ 49,356 $ 50,974 Future minimum rent payments for our operating leases for each of the next five June 27, 2023 Fiscal year ending: Total Remainder of 2023 $ 1,986 2024 7,983 2025 8,081 2026 7,665 2027 7,368 Thereafter 27,413 Total minimum lease payments 60,496 Less: imputed interest (11,140 ) Present value of lease liabilities $ 49,356 The above future minimum rental amounts exclude the amortization of deferred lease incentives, renewal options that are not

Note 13 - Impairment of Long-li

Note 13 - Impairment of Long-lived Assets and Trademarks	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Asset Impairment Charges [Text Block]	Note 13. Impairment of Long-Lived Assets and Trademarks Long-Lived Assets. may not During the quarter ended June 27, 2023 three June 27, 2023, one three June 28, 2022, three June 28, 2022, four Trademarks. June 27, 2023 June 28, 2022.

Note 14 - Income Taxes

Note 14 - Income Taxes	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 14. 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 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. Deferred tax assets are reviewed periodically for realizability and valuation allowances are adjusted as necessary. The Company’s effective income tax rate for the three June 27, 2023 three June 28, 2022. second third three June 27, 2023 0.7% three June 28, 2022. second third During the second 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 2020 through 2023. not June 27, 2023.

Note 15 - Non-controlling Inter

Note 15 - Non-controlling Interests	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	Note 15. Non-controlling Interests Non-controlling interests are presented separately in the shareholders’ 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 not The equity interests of the unrelated limited partners and non-controlling members are shown on the accompanying consolidated balance sheet in the shareholders’ equity section as a non-controlling interest and is adjusted each period to reflect the limited partners’ and non-controlling members’ share of the net income or loss as well as any cash contributions or distributions to or from the limited partners and non-controlling members for the period. The limited partners’ and members’ share of the net income or loss in the subsidiary is shown as income or expense attributable to non-controlling interests in the accompanying consolidated statement of operations. All inter-company accounts and transactions are eliminated. The following table summarizes the activity in non-controlling interests during the three June 27, 2023 ( Bad Daddy s Good Times Total Balance at September 27, 2022 $ 1,041 $ 262 $ 1,303 Income 219 260 479 Purchase of Non-controlling Interests (831 ) - (831 ) Distributions (442 ) (121 ) (563 ) Contribution 13 - 13 Balance at June 27, 2023 - 401 401 Non-controlling interests at the end of the quarter consisted of one March 28, 2023,

Note 16 - Segment Reporting

Note 16 - Segment Reporting	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 16. Segment Reporting All of our Bad Daddy’s Burger Bar restaurants (Bad Daddy’s) compete in the full-service segment of the restaurant industry while our Good Times Burgers and Frozen Custard restaurants (Good Times) compete in the quick-service segment of the 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 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 (in thousands): Quarter Ended (13 Weeks) Year-to-Date (39 Weeks) June 27, 2023 June 28, 2022 June 27, 2023 June 28, 2022 Revenues Bad Daddy’s $ 26,161 $ 27,231 $ 77,795 $ 77,427 Good Times 9,459 9,266 26,004 25,583 $ 35,620 36,497 $ 103,799 103,010 Income from operations Bad Daddy’s $ (946 ) 635 $ (277 ) 138 Good Times $ 1,390 186 $ 1,645 50 $ 444 821 $ 1,368 188 Capital expenditures Bad Daddy’s $ 1,295 652 $ 1,901 1,480 Good Times 302 364 1,277 471 $ 1,597 $ 1,016 $ 3,178 $ 1,951 June 27, 2023 September 27, 2022 Property and equipment, net Bad Daddy’s $ 18,048 $ 19,575 Good Times 3,443 2,676 $ 21,491 $ 22,251

Note 17 - Subsequent Events

Note 17 - Subsequent Events	9 Months Ended
	Jun. 27, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	Note 17. Subsequent Events None.

Note 4 - Goodwill and Intangi_2

Note 4 - Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	June 27, 2023 September 27, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Intangible assets subject to amortization: Non-compete agreements $ 25 $ (11 ) $ 14 $ 25 $ (5 ) $ 20 Indefinite-lived intangible assets: Trademarks 3,900 - 3,900 3,900 - 3,900 Intangible assets, net $ 3,925 $ (11 ) $ 3,914 $ 3,925 $ (5 ) $ 3,920 Goodwill $ 5,713 $ - $ 5,713 $ 5,713 $ - $ 5,713

Note 5 - Stock-based Compensa_2

Note 5 - Stock-based Compensation (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Quarters Ended June 27, 2023 Incentive and Non-Qualified Stock Options Three Quarters Ended June 28, 2022 Incentive and Non-Qualified Stock Options Expected term (years) 7.5 6.5 Expected volatility 60.0% - 60.2% 61.31% Risk-free interest rate 3.33% - 4.21% 1.76% Expected dividends - -
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (Yrs) Outstanding at beginning of year 470,161 $ 3.97 Options granted 45,000 $ 2.81 Options exercised (2,000 ) $ 2.31 Options Forfeited (64,137 ) $ 3.43 Outstanding June 27, 2023 449,024 $ 3.94 5.0 Exercisable June 27, 2023 334,103 $ 3.66 4.6
Nonvested Restricted Stock Shares Activity [Table Text Block]	Shares Grant Date Fair Value Per Share Non-vested units at beginning of year 73,336 $1.54 to $4.50 Units granted 25,750 $2.29 Units vested (46,336 ) $1.54 Units forfeited (2,750 ) $2.29 to $4.50 Non-vested units at June 27, 2023 50,000 $2.29 to $4.50

Note 7 - Prepaid Expenses and_2

Note 7 - Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]	June 27, 2023 September 27, 2022 Prepaid Rent $ 779 $ 765 Prepaid Insurance 382 3 Other 253 120 Total $ 1,414 $ 888

Note 8 - Other Accrued Liabil_2

Note 8 - Other Accrued Liabilities (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	June 27, 2023 September 27, 2022 Wages and other employee benefits $ 3,116 $ 2,773 Taxes, other than income taxes 1,215 1,166 Gift card liability, net of breakage 1,229 985 General expense accrual and other 1,274 1,867 Total $ 6,834 $ 6,791

Note 10 - Net Income (Loss) P_2

Note 10 - Net Income (Loss) Per Common Share (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Quarter Ended Year-to-Date June 27, 2023 June 28, 2022 June 27, 2023 June 28, 2022 Weighted-average shares outstanding basic 11,700,044 12,457,251 11,853,441 12,502,449 Effect of potentially dilutive securities: Stock options 19,242 29,071 7,050 - Restricted stock units 50,000 74,336 50,000 - Weighted-average shares outstanding diluted 11,769,286 12,560,658 11,910,491 12,502,449 Excluded from diluted weighted average shares outstanding: Antidilutive 345,691 387,378 354,024 249,752

Note 12 - Leases (Tables)

Note 12 - Leases (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Lease, Cost [Table Text Block]	Lease cost Classification June 27, 2023 June 28, 2022 Operating lease cost Occupancy, Other restaurant operating costs and General and administrative expenses, net $ 1,824 $ 1,866 Variable lease cost Occupancy 60 27 Sublease income Occupancy (137 ) (136 ) $ 1,747 $ 1,757
Schedule of Weighted Average Lease Term and Discount Rate [Table Text Block]	June 27, 2023 June 28, 2022 Weighted average remaining lease term (in years) 8.16 8.85 Weighted average discount rate 5.0 % 5.0 %
Schedule of Supplemental Cash Flow Information Related to Leases [Table Text Block]	June 27, 2023 June 28, 2022 Cash paid for operating lease liabilities $ 5,771 $ 5,383 Non-cash operating lease assets obtained in exchange for operating lease liabilities $ 1,201 $ 734
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	June 27, 2023 September 27, 2022 Right-of-use assets Operating lease assets $ 41,283 $ 42,463 Current lease liabilities Operating lease liability $ 5,673 $ 5,430 Non-current lease liabilities Operating lease liability, less current portion 43,683 45,544 Total lease liabilities $ 49,356 $ 50,974
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Fiscal year ending: Total Remainder of 2023 $ 1,986 2024 7,983 2025 8,081 2026 7,665 2027 7,368 Thereafter 27,413 Total minimum lease payments 60,496 Less: imputed interest (11,140 ) Present value of lease liabilities $ 49,356

Note 15 - Non-controlling Int_2

Note 15 - Non-controlling Interests (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Schedule of Activity in Noncontrolling Interests [Table Text Block]	Bad Daddy s Good Times Total Balance at September 27, 2022 $ 1,041 $ 262 $ 1,303 Income 219 260 479 Purchase of Non-controlling Interests (831 ) - (831 ) Distributions (442 ) (121 ) (563 ) Contribution 13 - 13 Balance at June 27, 2023 - 401 401

Note 16 - Segment Reporting (Ta

Note 16 - Segment Reporting (Tables)	9 Months Ended
	Jun. 27, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended (13 Weeks) Year-to-Date (39 Weeks) June 27, 2023 June 28, 2022 June 27, 2023 June 28, 2022 Revenues Bad Daddy’s $ 26,161 $ 27,231 $ 77,795 $ 77,427 Good Times 9,459 9,266 26,004 25,583 $ 35,620 36,497 $ 103,799 103,010 Income from operations Bad Daddy’s $ (946 ) 635 $ (277 ) 138 Good Times $ 1,390 186 $ 1,645 50 $ 444 821 $ 1,368 188 Capital expenditures Bad Daddy’s $ 1,295 652 $ 1,901 1,480 Good Times 302 364 1,277 471 $ 1,597 $ 1,016 $ 3,178 $ 1,951 June 27, 2023 September 27, 2022 Property and equipment, net Bad Daddy’s $ 18,048 $ 19,575 Good Times 3,443 2,676 $ 21,491 $ 22,251

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual) - USD ($)	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Marketing and Advertising Expense	$ 212,000	$ 204,000
Receivables, Net, Current	729,000	694,000
Receivables From Large Box Retail Partners [Member]
Receivables, Net, Current	84,000	235,000
Rebate Receivables [Member]
Receivables, Net, Current	291,000	127,000
Third Party Delivery Receivables [Member]
Receivables, Net, Current	298,000	229,000
Franchise and Other Receivables [Member]
Receivables, Net, Current	$ 56,000	$ 103,000

Note 4 - Goodwill and Intangi_3

Note 4 - Goodwill and Intangible Assets (Details Textual)	9 Months Ended		12 Months Ended
	Jun. 27, 2023 USD ($)	Jun. 28, 2022 USD ($)	Sep. 27, 2022 USD ($)
Number of Reporting Units	2
Goodwill, Impairment Loss	$ 0		$ 0
Amortization of Intangible Assets	6,000	$ 3,000
Goodwill	5,713,000		$ 5,713,000
Good Times Restaurants [Member]
Goodwill	96,000	96,000
Bad Daddy’s Restaurants [Member]
Goodwill	$ 5,617,000	$ 5,617,000

Note 4 - Goodwill and Intangi_4

Note 4 - Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 27, 2023	Sep. 27, 2022
Non-compete agreements	$ (11)	$ (5)
Intangible assets, gross	3,925	3,925
Intangible assets, net	3,914	3,920
Goodwill, gross	5,713	5,713
Goodwill, accumulated amortization	0	0
Goodwill	5,713	5,713
Trademarks [Member]
Indefinite-lived intangible assets	3,900	3,900
Noncompete Agreements [Member]
Intangible assets subject to amortization, gross	25	25
Non-compete agreements	(11)	(5)
Intangible assets subject to amortization, net	$ 14	$ 20

Note 5 - Stock-based Compensa_3

Note 5 - Stock-based Compensation (Details Textual) - USD ($)	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022	Feb. 08, 2022	May 24, 2018
Share-Based Payment Arrangement, Expense	$ 104,000	$ 207,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	45,000	105,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares)	2,000	28,797
Proceeds from Stock Options Exercised	$ 5,000	$ 90,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value	296,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 104,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 10 months 24 days
Non-qualified Stock Option [Member] | Senior Vice President of Finance [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)		25,000
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)	1 year 10 months 24 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	25,750	28,000
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	$ 106,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 2.29
Restricted Stock [Member]
Share-Based Payment Arrangement, Expense		$ 40,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	0	9,256
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)		$ 4.35
The 2018 Omnibus Equity Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares)			1,050,000	900,000

Note 5 - Stock-based Compensa_4

Note 5 - Stock-based Compensation - Weighted Average Assumptions of Stock Options (Details)	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Expected term (years) (Year)	7 years 6 months	6 years 6 months
Expected volatility, minimum	60%
Expected volatility, maximum	60.20%
Expected volatility		61.31%
Risk-free interest rate, minimum	3.33%
Risk-free interest rate, maximum	4.21%
Risk-free interest rate		1.76%
Expected dividends	0%	0%

Note 5 - Stock-based Compensa_5

Note 5 - Stock-based Compensation - Summary of Stock Option Activity (Details) - $ / shares	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Outstanding at beginning of year, shares (in shares)	470,161
Outstanding at beginning of year, weighted average exercise price (in dollars per share)	$ 3.97
Options granted, shares (in shares)	45,000	105,000
Options granted, weighted average exercise price (in dollars per share)	$ 2.81
Options exercised, shares (in shares)	(2,000)
Options exercised, weighted average exercise price (in dollars per share)	$ 2.31
Options Forfeited, shares (in shares)	(64,137)
Options Forfeited, weighted average exercise price (in dollars per share)	$ 3.43
Outstanding, shares (in shares)	449,024
Outstanding, weighted average exercise price (in dollars per share)	$ 3.94
Outstanding, weighted average remaining contractual life (Year)	5 years
Exercisable, shares (in shares)	334,103
Exercisable, weighted average exercise price (in dollars per share)	$ 3.66
Exercisable, weighted average remaining contractual life (Year)	4 years 7 months 6 days

Note 5 - Stock-based Compensa_6

Note 5 - Stock-based Compensation - Non-vested Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Non-vested units at beginning of year, shares (in shares)	73,336
Units granted, shares (in shares)	25,750	28,000
Units granted, grant date fair value per share (in dollars per share)	$ 2.29
Units vested, shares (in shares)	(46,336)
Units vested, grant date fair value per share (in dollars per share)	$ 1.54
Units forfeited, shares (in shares)	(2,750)
Non-vested units, shares (in shares)	50,000
Minimum [Member]
Non-vested units at beginning of year, grant date fair value per share (in dollars per share)	$ 1.54
Units forfeited, grant date fair value per share (in dollars per share)	2.29
Non-vested units, grant date fair value per share (in dollars per share)	2.29
Maximum [Member]
Non-vested units at beginning of year, grant date fair value per share (in dollars per share)	4.50
Units forfeited, grant date fair value per share (in dollars per share)	4.50
Non-vested units, grant date fair value per share (in dollars per share)	$ 4.50

Note 6 - Gain on Sale of Asse_2

Note 6 - Gain on Sale of Assets and Lease Termination (Details Textual) - USD ($)	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Sale Leaseback Transactions, Deferred Gain, Net	$ 76,000	$ 7,000
Gain (Loss) on Disposition of Other Assets	$ (44,000)
Gain (Loss) on Contract Termination		$ 642,000

Note 7 - Prepaid Expenses and_3

Note 7 - Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 27, 2023	Sep. 27, 2022
Prepaid Rent	$ 779	$ 765
Prepaid Insurance	382	3
Other	253	120
Total	$ 1,414	$ 888

Note 8 - Other Accrued Liabil_3

Note 8 - Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 27, 2023	Sep. 27, 2022
Wages and other employee benefits	$ 3,116	$ 2,773
Taxes, other than income taxes	1,215	1,166
Gift card liability, net of breakage	1,229	985
General expense accrual and other	1,274	1,867
Total	$ 6,834	$ 6,791

Note 9 - Notes Payable and Lo_2

Note 9 - Notes Payable and Long-term Debt (Details Textual) - Cadence Bank [Member] - Revolving Credit Facility [Member] - USD ($)	9 Months Ended
	Jun. 27, 2023	Apr. 20, 2023
Prior Cadence Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 8,000,000
Line of Credit Facility, Commitment Fee Percentage	0.25%
Debt, Weighted Average Interest Rate	8.07%
Senior Credit Facility [Member]
Debt Instrument, Covenant, Minimum Outstanding Balance for New Specified Leverage Ratio		$ 4,000,000

Note 10 - Net Income (Loss) P_3

Note 10 - Net Income (Loss) Per Common Share - Reconciliation of Basic to Diluted Weighted Average Shares Outstanding (Details) - shares	3 Months Ended			9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022	Jun. 28, 2022	Jun. 27, 2023	Jun. 28, 2022
Basic (in shares)	11,700,044	12,457,251	12,457,251	11,853,441	12,502,449
Weighted-average shares outstanding diluted (in shares)	11,769,286	12,560,658	12,560,658	11,910,491	12,502,449
Antidilutive (in shares)	345,691		387,378	354,024	249,752
Share-Based Payment Arrangement, Option [Member]
Effect of potentially dilutive securities (in shares)	19,242		29,071	7,050	0
Restricted Stock Units (RSUs) [Member]
Effect of potentially dilutive securities (in shares)	50,000		74,336	50,000	0

Note 11 - Contingent Liabilit_2

Note 11 - Contingent Liabilities and Liquidity (Details Textual) - White Winston Select Asset Funds, LLC and GT Acquisition Group, Inc. v. Good Times Restaurants, Inc. [Member] - Pending Litigation [Member] - USD ($)	Jul. 30, 2021	Mar. 28, 2022
Loss Contingency, Damages Sought, Value	$ 18,000,000
Loss Contingency Accrual		$ 332,000

Note 12 - Leases (Details Textu

Note 12 - Leases (Details Textual)	Jun. 27, 2023
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	10 years
Lessee, Operating Lease, Renewal Term (Year)	10 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	20 years
Lessee, Operating Lease, Renewal Term (Year)	15 years
Lessee, Operating Lease, Remaining Lease Term (Year)	20 years

Note 12 - Leases - Components o

Note 12 - Leases - Components of Operating Lease Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Operating lease cost	$ 1,824	$ 1,866
Variable lease cost	60	27
Sublease income	(137)	(136)
Lease, Cost	$ 1,747	$ 1,757

Note 12 - Leases - Weighted Ave

Note 12 - Leases - Weighted Average Lease Term and Discount Rate (Details)	Jun. 27, 2023	Jun. 28, 2022
Weighted average remaining lease term (in years) (Year)	8 years 1 month 28 days	8 years 10 months 6 days
Weighted average discount rate	5%	5%

Note 12 - Leases - Supplemental

Note 12 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022
Cash paid for operating lease liabilities	$ 5,771	$ 5,383
Non-cash operating lease assets obtained in exchange for operating lease liabilities	$ 1,201	$ 734

Note 12 - Leases - Supplement_2

Note 12 - Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 27, 2023	Sep. 27, 2022
Right-of-use assets	$ 41,283	$ 42,463
Current lease liabilities	5,673	5,430
Non-current lease liabilities	43,683	45,544
Total lease liabilities	$ 49,356	$ 50,974

Note 12 - Leases - Future Minim

Note 12 - Leases - Future Minimum Rent Payments (Details) - USD ($) $ in Thousands	Jun. 27, 2023	Sep. 27, 2022
Remainder of 2023	$ 1,986
2024	7,983
2025	8,081
2026	7,665
2027	7,368
Thereafter	27,413
Total minimum lease payments	60,496
Less: imputed interest	(11,140)
Present value of lease liabilities	$ 49,356	$ 50,974

Note 13 - Impairment of Long-_2

Note 13 - Impairment of Long-lived Assets and Trademarks (Details Textual)	3 Months Ended		9 Months Ended
	Jun. 27, 2023 USD ($)	Jun. 28, 2022 USD ($)	Jun. 27, 2023 USD ($)	Jun. 28, 2022 USD ($)
Impairment, Long-Lived Asset, Held-for-Use	$ 965,000	$ 303,000	$ 1,041,000	$ 2,056,000
Trademarks [Member]
Impairment of Intangible Assets, Indefinite-Lived (Excluding Goodwill)			0	0
Restaurant Assets [Member]
Impairment, Long-Lived Asset, Held-for-Use	$ 0		$ 1,041,000	2,056,000
Restaurant Assets [Member] | Good Times Restaurants [Member]
Impairment, Long-Lived Asset, Held-for-Use		$ 303,000		$ 790,000
Number of Restaurants With Impairment		1		3
Restaurant Assets [Member] | Bad Daddy’s Restaurants [Member]
Impairment, Long-Lived Asset, Held-for-Use				$ 1,266,000
Number of Restaurants With Impairment				1

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022	Jun. 27, 2023	Jun. 28, 2022
Effective Income Tax Rate Reconciliation, Percent	(189.98%)	(0.21%)	(1261.02%)	(0.70%)
Open Tax Year			2020
Unrecognized Tax Benefits	$ 0		$ 0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	$ 0		$ 0

Note 15 - Non-controlling Int_3

Note 15 - Non-controlling Interests (Details Textual)	3 Months Ended	9 Months Ended
	Jun. 27, 2023 USD ($)	Jun. 27, 2023 USD ($)	Jun. 28, 2022 USD ($)
Payments to Acquire Interest in Subsidiaries and Affiliates		$ 4,394,000	$ 0
Good Times Restaurants [Member]
Number of Restaurants	6	6
Bad Daddy’s Restaurants [Member]
Number of Restaurants	5	5
Payments to Acquire Interest in Subsidiaries and Affiliates	$ 4,394,000

Note 15 - Non-controlling Int_4

Note 15 - Non-controlling Interests - Summary of Activity in Non-controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jun. 27, 2023	Mar. 28, 2023	Dec. 27, 2022	Jun. 28, 2022	Mar. 29, 2022	Dec. 28, 2021	Jun. 27, 2023
Balance			$ 1,303				$ 1,303
Income							479
Purchase of Non-controlling Interests		$ (3,506)					(831)
Distributions	$ (97)	$ (294)	(172)	$ (493)	$ (112)	$ (632)	(563)
Contribution			13				13
Balance	401						401
Bad Daddy’s Restaurants [Member]
Balance			1,041				1,041
Income							219
Purchase of Non-controlling Interests							(831)
Distributions							(442)
Contribution							13
Balance	0						0
Good Times Restaurants [Member]
Balance			$ 262				262
Income							260
Purchase of Non-controlling Interests							0
Distributions							(121)
Contribution							0
Balance	$ 401						$ 401

Note 16 - Segment Reporting - I

Note 16 - Segment Reporting - Information About Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jun. 27, 2023	Jun. 28, 2022	Jun. 28, 2022	Jun. 27, 2023	Jun. 28, 2022	Sep. 27, 2022
Revenues	$ 35,620	$ 36,497	$ 36,497	$ 103,799	$ 103,010
Income (Loss) from operations	444	$ 821	821	1,368	188
Capital expenditures	1,597		1,016	3,178	1,951
Property and equipment, net	21,491			21,491		$ 22,251
Bad Daddy’s Restaurants [Member]
Revenues	26,161		27,231	77,795	77,427
Income (Loss) from operations	(946)		635	(277)	138
Capital expenditures	1,295		652	1,901	1,480
Property and equipment, net	18,048			18,048		19,575
Good Times Restaurants [Member]
Revenues	9,459		9,266	26,004	25,583
Income (Loss) from operations	1,390		186	1,645	50
Capital expenditures	302		$ 364	1,277	$ 471
Property and equipment, net	$ 3,443			$ 3,443		$ 2,676