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  <p class=MsoTitle align="center"><b>UNITED STATES</b></p>
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  <p class=MsoNormal align=center style='text-align:center'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>
  </td>
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  <p class=MsoNormal align=center style='text-align:center'>Washington, D.C. 20549</p>
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  <p class=MsoNormal align=center style='text-align:center'><b>FORM 8-K</b></p>
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  <p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>
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  <p class=MsoNormal align=center style='text-align:center'><b>CURRENT REPORT</b></p>
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  <p class=MsoNormal><b>&nbsp;</b></p>
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  <h3>Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934</h3>
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  <p class=MsoNormal align=center style='text-align:center'>Date of Report (Date of earliest event reported)</p>
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  <p class=MsoNormal align=center style='text-align:center'>July 3, 2012</p>
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  <p class=MsoNormal align=center style='text-align:center'><b>Good Times Restaurants Inc.</b></p>
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  <td width=638 colspan=4 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>(Exact name of registrant as specified in its
  charter)</p>
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  <p class=MsoNormal align=center style='text-align:center'>Nevada</p>
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  <p class=MsoNormal align=center style='text-align:center'>000-18590</p>
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  <td width=211 valign=top style='width:2.2in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>84-1133368</p>
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  <p class=MsoNormal align=center style='text-align:center'>(State or other jurisdiction of incorporation)</p>
  </td>
  <td width=192 valign=top style='width:2.0in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>(Commission File Number)</p>
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  <td width=211 valign=top style='width:2.2in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>(IRS Employer Identification No.)</p>
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  <p class=MsoNormal align=center style='text-align:center'>601 Corporate Circle, Golden, Colorado 80401</p>
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  <p class=MsoNormal align=center style='text-align:center'>(Address of principal executive offices)&nbsp;&nbsp; (Zip
  Code)</p>
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  <p class=MsoNormal align=center style='text-align:center'>Registrant's telephone number, including area code:
  (303) 384-1400</p>
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  <p class=MsoNormal align=center style='text-align:center'>Not applicable</p>
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  <p class=MsoNormal align=center style='text-align:center'>(Former name or former address, if changed since
  last report.)</p>
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  </td>
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  <td width=638 colspan=4 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions (see
  General Instruction A.2.):</p>
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  <p class=MsoNormal>[_]</p>
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  <td width=601 colspan=3 valign=top style='width:450.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
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  <p class=MsoNormal>[_]</p>
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  <p class=MsoNormal>Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
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  <p class=MsoNormal>[_]</p>
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  <p class=MsoNormal>Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))</p>
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  <p class=MsoNormal>[_]</p>
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  <p class=MsoNormal>Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</p>
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<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
-1.0in'><b>ITEM 5.02&nbsp;&nbsp;&nbsp;&nbsp; DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN
OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.</b></p>

<p class=MsoNormal><a name=tab2></a>&nbsp;</p>

<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On July 3, 2012, the Board of Directors (the &quot;Board&quot;)
of Good Times Restaurants Inc. (the &quot;Company&quot;) elected Neil Calvert as a
director of the Company, to fill the vacancy on the Board created by the resignation
of former director Keith Radford effective June 30, 2012.&nbsp; Mr. Calvert was
designated by Small Island Investments Limited (&quot;SII&quot;) pursuant to the terms of
the Securities Purchase Agreement dated October 29, 2010 between the Company
and SII, which provides that as long as SII continues to own at least 50% of
our outstanding capital stock, it has the right to designate four members of
the Company's Board.&nbsp; The Securities Purchase Agreement dated June 13, 2012
between the Company and SII reconfirms and continues SII's director designation
rights.</p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Board has determined that Mr. Calvert is an
&quot;independent director&quot; under the NASDAQ Listing Rules and that he is
&quot;independent&quot; for purposes of Section 10A(m)(3) of the Securities Exchange Act
of 1934.&nbsp; Accordingly, the Board has appointed Mr. Calvert to succeed Mr.
Radford as the Chairman of the Audit Committee.&nbsp; In addition, the Board has
determined that Mr. Calvert is an audit committee financial expert, as that
term is defined by the SEC rules, by virtue of having the following attributes
through relevant experience: (i) an understanding of generally accepted
accounting principles and financial statements; (ii) the ability to assess the
general application of such principles in connection with the accounting for
estimates, accruals, and reserves; (iii) experience preparing, auditing,
analyzing, or evaluating financial statements that present a breadth and level
of complexity of accounting issues that are generally comparable to the breadth
and complexity of issues that can reasonably be expected to be raised by the
Company's financial statements, or experience actively supervising one or more
persons engaged in such activities; (iv)&nbsp; an understanding of internal controls
and procedures for financial reporting; and (v) an understanding of audit
committee functions.</p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mr. Calvert will be compensated in accordance with the
Company's standard compensation policies and practices for its Board as
follows:&nbsp; $500 for each Board meeting attended and $100 for each Audit
Committee or Compensation Committee attended (however, where both Audit
Committee and Compensation Committee meetings are held at the same gathering
only $100 is paid to directors attending both committee meetings).</p>

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<h3><b>SIGNATURES</b></h3>



<p class=MsoBodyTextIndent3>Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.</p>





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  <p><b>GOOD TIMES RESTAURANTS INC.</b></p>
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  <p class=MsoNormal>Date: July 9, 2012</p>
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  <p class=MsoNormal><i><u>/Boyd E. Hoback/</u></i></p>
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  <p class=MsoNormal>Boyd E. Hoback</p>
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  <p class=MsoNormal>President and Chief
  Executive Officer</p>
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{"company-data": {"conformed-name": "GOOD TIMES RESTAURANTS INC", "cik": "0000825324", "assigned-sic": "5812", "irs-number": "841133368", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-18590", "film-number": "12953701"}, "business-address": {"street1": "601 CORPORATE CIRCLE", "city": "GOLDEN", "state": "CO", "zip": "80401", "phone": "3033841400"}, "mail-address": {"street1": "601 CORPORATE CIRCLE", "city": "GOLDEN", "state": "CO", "zip": "80401"}, "former-company": {"former-conformed-name": "PARAMOUNT VENTURES INC", "date-changed": "19900205"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
  Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
July 3, 2012
Good Times Restaurants Inc.
(Exact name of registrant as specified in its
  charter)
Nevada
000-18590
84-1133368
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)
601 Corporate Circle, Golden, Colorado 80401
(Address of principal executive offices)   (Zip
  Code)
Registrant's telephone number, including area code:
  (303) 384-1400
Not applicable
(Former name or former address, if changed since
  last report.)
Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the filing
  obligation of the registrant under any of the following provisions (see
  General Instruction A.2.):
[_]
Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[_]
Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[_]
Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))
[_]
Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))
15392077
ITEM 5.02     DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN
OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On July 3, 2012, the Board of Directors (the "Board")
of Good Times Restaurants Inc. (the "Company") elected Neil Calvert as a
director of the Company, to fill the vacancy on the Board created by the resignation
of former director Keith Radford effective June 30, 2012.  Mr. Calvert was
designated by Small Island Investments Limited ("SII") pursuant to the terms of
the Securities Purchase Agreement dated October 29, 2010 between the Company
and SII, which provides that as long as SII continues to own at least 50% of
our outstanding capital stock, it has the right to designate four members of
the Company's Board.  The Securities Purchase Agreement dated June 13, 2012
between the Company and SII reconfirms and continues SII's director designation
rights.
The Board has determined that Mr. Calvert is an
"independent director" under the NASDAQ Listing Rules and that he is
"independent" for purposes of Section 10A(m)(3) of the Securities Exchange Act
of 1934.  Accordingly, the Board has appointed Mr. Calvert to succeed Mr.
Radford as the Chairman of the Audit Committee.  In addition, the Board has
determined that Mr. Calvert is an audit committee financial expert, as that
term is defined by the SEC rules, by virtue of having the following attributes
through relevant experience: (i) an understanding of generally accepted
accounting principles and financial statements; (ii) the ability to assess the
general application of such principles in connection with the accounting for
estimates, accruals, and reserves; (iii) experience preparing, auditing,
analyzing, or evaluating financial statements that present a breadth and level
of complexity of accounting issues that are generally comparable to the breadth
and complexity of issues that can reasonably be expected to be raised by the
Company's financial statements, or experience actively supervising one or more
persons engaged in such activities; (iv)  an understanding of internal controls
and procedures for financial reporting; and (v) an understanding of audit
committee functions.
Mr. Calvert will be compensated in accordance with the
Company's standard compensation policies and practices for its Board as
follows:  $500 for each Board meeting attended and $100 for each Audit
Committee or Compensation Committee attended (however, where both Audit
Committee and Compensation Committee meetings are held at the same gathering
only $100 is paid to directors attending both committee meetings).
2
15392077
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.
GOOD TIMES RESTAURANTS INC.
Date: July 9, 2012
/Boyd E. Hoback/
Boyd E. Hoback
President and Chief
  Executive Officer
3
15392077