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EXCEL - IDEA: XBRL DOCUMENT - GOOD TIMES RESTAURANTS INCFinancial_Report.xls
10-K - GOOD TIMES RESTAURANTS INCf10kfinal1.htm
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EX-1 - GOOD TIMES RESTAURANTS INCconsent1212.htm
EX-2 - GOOD TIMES RESTAURANTS INCexhibit311certceo.htm
EX-4 - GOOD TIMES RESTAURANTS INCexhibit321certceocontrol.htm
EX-3 - GOOD TIMES RESTAURANTS INCexhibit312certofcontroller.htm
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v2.4.0.6
Subsequent Events
12 Months Ended
Sep. 30, 2012
Subsequent Events

11.

Subsequent Events:

At September 30, 2012 we classified $1,380,000 as assets held for sale in the accompanying consolidated balance sheet. These costs are related to a site in Firestone, Colorado which has been fully developed. On November 30, 2012 we completed a sale lease-back transaction on the property.  The net sale leaseback proceeds of $1,380,000 were used to reduce the PFGI II term loan by $765,000 and the balance to increase our working capital.

On November 30, 2012 we purchased the real estate underlying an existing restaurant from our landlord for $760,000.  In connection with the real estate purchase we have entered into an additional sale leaseback agreement that is expected to close in January 2013 and we expect to recognize net proceeds of $870,000.  We entered into an amendment to the PFGI II loan agreement whereby we will repay the remaining loan balance out of the sale leaseback proceeds from the closing on this sale leaseback transaction.

On December 5, 2012 we entered into an agreement to purchase a restaurant from a franchisee for a total of $1,250,000, including the real estate and operating business with an anticipated closing date of December 31, 2012.  We will pay $650,000 in cash and issue a short term note of $600,000.  We have entered into a sale leaseback agreement for the real estate that we expect will yield approximately $1,050,000 in net proceeds by March 31, 2013.