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<p class=MsoTitle><b>UNITED STATES</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p class=MsoNormal align=center style='text-align:center'>Washington, D.C. 20549</p>



<p class=MsoNormal align=center style='text-align:center'><b>FORM 8-K</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>

<p class=MsoNormal align=center style='text-align:center'><b>CURRENT REPORT</b></p>

<p class=MsoNormal><b>&nbsp;</b></p>

<h3>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</h3>



<p class=MsoNormal align=center style='text-align:center'>Date of Report (Date of earliest event reported)</p>

<p class=MsoNormal align=center style='text-align:center'>February 1, 2010</p>



<p class=MsoNormal align=center style='text-align:center'><b>Good Times Restaurants Inc.</b></p>

<p class=MsoNormal align=center style='text-align:center'>(Exact name of registrant as specified in its charter)</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nevada&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 000-18590&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84-1133368</p>

<p class=MsoNormal> (State or other jurisdiction&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Commission&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (IRS
Employer</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of incorporation)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; File
Number)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Identification No.)</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>



<p class=MsoNormal align=center style='text-align:center'>601 Corporate Circle, Golden, Colorado 80401</p>

<p class=MsoNormal align=center style='text-align:center'>(Address of principal executive offices)&nbsp;&nbsp; (Zip Code)</p>



<p class=MsoNormal align=center style='text-align:center'>Registrant's telephone number, including area code:
(303) 384-1400</p>



<p class=MsoNormal align=center style='text-align:center'>Not applicable</p>

<p class=MsoNormal align=center style='text-align:center'>(Former name or former address, if changed since last
report.)</p>





<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.):<br>
<br>
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)<br>
<br>
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)<br>
<br>
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))<br>
<br>
[_] 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><b>Item 1.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry
into a Material Definitive Agreement.</b></p>

<p class=MsoNormal style='text-autospace:none'><b>&nbsp;</b></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>On February 1, 2010, Good Times
Restaurants Inc. (the &quot;Company&quot;) and Good Times Drive Thru Inc. (&quot;GTDT&quot;), a
wholly owned subsidiary of the Company, entered into a loan agreement (the
&quot;Loan Agreement&quot;) with W Capital, John T. MacDonald and Golden Bridge, LLC (collectively&nbsp;
&quot;the Lender&quot;), pursuant to which the Lender made a loan of $200,000, with up to
an additional $200,000 loan available through April 30, 2010 (the &quot;Loan&quot;), to
be used for restaurant marketing and other working capital uses of GTDT.&nbsp; Eric
Reinhard, Ron Goodson, David Grissen, Richard Stark, and Alan Teran, who are
all members of the Company's Board of Directors and stockholders of the
Company, are the sole members of Golden Bridge, LLC. However, not all members
of Golden Bridge, LLC are participating in the Loan.&nbsp; The Company's and GTDT's
obtaining of the Loan from the Lender and related transactions were duly
approved in advance by the Company's Board of Directors by the affirmative vote
of members thereof who did not have an interest in the transaction.</p>



<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>The Loan is evidenced by a Convertible
Secured Promissory Note dated February 1, 2010 (the &quot;Note&quot;) made by the Company
and GTDT, as co-makers, and shall bear interest at a rate of 12% per annum on
the unpaid principal balance through August 1, 2010.&nbsp; The maturity date for
payment of all principal and interest on the Note is December 31, 2010.&nbsp;
However, if and to the extent that any portion of the Note is still outstanding
after August 1, 2010, the interest rate will increase to 14% per annum from and
after August 1, 2010 until the maturity date.&nbsp; All interest accrues through the
maturity date.&nbsp; The Loan Agreement contains customary event of default provisions
and a cross-default provision with respect to the loan agreement for the Wells
Fargo Bank and PFGI II, LLC loans in the event of payment default on either of
those loans.&nbsp; Upon the occurrence and continuance of an event of default, the
Lender may declare all or part of the unpaid principal and accrued and unpaid
interest on the Loan due and payable.&nbsp; Any amounts not paid to the Lender when
due will bear interest from the due date until paid at a rate of 16% per annum.</p>



<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>The Loan Agreement and the Note are
subject to the terms of a Leasehold Deed of Trust Agreement and Security
Agreement with respect to certain of GTDT's restaurants that were not
previously pledged as collateral under the Wells Fargo Bank or PFGI II, LLC
borrowings.&nbsp; The Note is convertible into shares of common stock of the Company
(the &quot;Conversion Shares&quot;) at any time prior to repayment at a conversion price
of 25% less than the average price of the Company's common stock during the 20
days prior to the conversion date, provided however that the conversion price
shall not be below $.75 per share nor above $1.08 per share (the &quot;Conversion Price&quot;).&nbsp;
</p>



<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>In connection with the Loan, the Company
issued warrants dated February 1, 2010 (the &quot;Warrants&quot;) to the Lender which
provides that the Lender may at any time from February 1, 2010 until two years
from the date of repayment or conversion of the Loan purchase up to an
aggregate of 50,000 shares of the Company's common stock (the &quot;Warrant Shares&quot;)
at an exercise price that is equal to the Conversion Price calculation above.&nbsp;
If the Loan is not repaid prior to August 1, 2010, the Company will issue
warrants for the purchase of 50,000 additional shares of the Company's common
stock upon the same terms as the initial Warrants.&nbsp; The number of Warrant Shares
and the exercise price are subject to customary antidilution adjustments upon
the occurrence of any stock dividends, stock splits, reverse stock splits,
recapitalizations, reclassifications, stock combinations or similar events.&nbsp; </p>



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  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>2</p>
  </td>
 </tr>
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<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>The issuance of the Note and the Warrants
was made in reliance on the exemption from registration under the Securities
Act of 1933 (the &quot;Securities Act&quot;) as provided in Section 4(2) of the
Securities Act.&nbsp; The facts relied upon to make such exemption available include
the limited number of offerees and purchasers involved, the limited manner of
offering, the status of each purchaser as either an &quot;accredited investor&quot; as
defined in Regulation D under the Securities Act or sophisticated as to the
nature of the particular transaction, and the restricted status of the security
as evidenced by a customary restrictive legend on the document for the
security.&nbsp; The Loan Agreement and the Warrants provide for the registration of
the Conversion Shares and the Warrant Shares within 30 days of closing on a
Form S-3 or other short form registration available to the Company.&nbsp; </p>



<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>The Loan Agreement, Note and Warrants (collectively,
the &quot;Loan Documents&quot;) are filed as Exhibits 10.1, 10.2 and 4.1, respectively, to this Current Report on Form 8-K and
are incorporated herein by reference.&nbsp; The foregoing summary of the Loan
Documents is qualified in its entirety by reference to the full text of
the Loan Documents filed as exhibits hereto.</p>



<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in;text-autospace:
none'><b>Item 2.03&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.</b></p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in;text-autospace:
none'><b>&nbsp;</b></p>

<p class=MsoNormal style='text-indent:.5in;text-autospace:none'>On February 1, 2010, the Company and GTDT
obtained the Loan from the Lender.&nbsp; The description of the Loan and the related
Loan Documents contained in Item 1.01 above is incorporated herein by reference.</p>



<p class=MsoNormal style='text-align:justify'><b>Item
9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</b></p>



<p class=MsoNormal style='text-indent:.5in'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.&nbsp;
The following exhibits are filed as part of this report:</p>



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<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=528
 style='width:5.5in;margin-left:662.95pt;border-collapse:collapse'>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>Exhibit</p>
  <p class=MsoNormal align=center style='text-align:center'><u>Number</u></p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><u>&nbsp;</u></p>
  <p class=MsoNormal><u>Description</u></p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>4.1</p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Warrants to Purchase Shares
  of Common Stock, Par Value $0.01 Per Share dated February 1, 2010 by Good
  Times Restaurants Inc.</p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>10.1</p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Loan Agreement dated February
  1, 2010 among W Capital, John T. MacDonald, Golden Bridge, LLC, and Good
  Times Drive Thru Inc. and Good Times Restaurants Inc.</p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>10.2</p>
  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Promissory Note dated February
  1, 2010 by Good Times Drive Thru Inc. and Good Times Restaurants Inc.</p>
  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=67 valign=top style='width:50.15pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=461 valign=top style='width:345.85pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
</table>

</div>



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 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>3</p>
  </td>
 </tr>
</table>

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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>





<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES RESTAURANTS INC.</p>





<p class=MsoNormal>Date:&nbsp; February 3, 2010&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:
&nbsp;<i><u>/s/ Boyd E. Hoback</u></i></p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boyd
E. Hoback</p>

<p class=MsoFooter style='line-height:10.0pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; President
and Chief Executive Officer11149096 </p>

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</div>



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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": "10652050"}, "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)
February 1, 2010
Good Times Restaurants Inc.
(Exact name of registrant as specified in its charter)
Nevada                                           000-18590                                          84-1133368
(State or other jurisdiction                           (Commission                                      (IRS
Employer
of incorporation)                                 File
Number)                                   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))
11149096
Item 1.01        Entry
into a Material Definitive Agreement.
On February 1, 2010, Good Times
Restaurants Inc. (the "Company") and Good Times Drive Thru Inc. ("GTDT"), a
wholly owned subsidiary of the Company, entered into a loan agreement (the
"Loan Agreement") with W Capital, John T. MacDonald and Golden Bridge, LLC (collectively 
"the Lender"), pursuant to which the Lender made a loan of $200,000, with up to
an additional $200,000 loan available through April 30, 2010 (the "Loan"), to
be used for restaurant marketing and other working capital uses of GTDT.  Eric
Reinhard, Ron Goodson, David Grissen, Richard Stark, and Alan Teran, who are
all members of the Company's Board of Directors and stockholders of the
Company, are the sole members of Golden Bridge, LLC. However, not all members
of Golden Bridge, LLC are participating in the Loan.  The Company's and GTDT's
obtaining of the Loan from the Lender and related transactions were duly
approved in advance by the Company's Board of Directors by the affirmative vote
of members thereof who did not have an interest in the transaction.
The Loan is evidenced by a Convertible
Secured Promissory Note dated February 1, 2010 (the "Note") made by the Company
and GTDT, as co-makers, and shall bear interest at a rate of 12% per annum on
the unpaid principal balance through August 1, 2010.  The maturity date for
payment of all principal and interest on the Note is December 31, 2010. 
However, if and to the extent that any portion of the Note is still outstanding
after August 1, 2010, the interest rate will increase to 14% per annum from and
after August 1, 2010 until the maturity date.  All interest accrues through the
maturity date.  The Loan Agreement contains customary event of default provisions
and a cross-default provision with respect to the loan agreement for the Wells
Fargo Bank and PFGI II, LLC loans in the event of payment default on either of
those loans.  Upon the occurrence and continuance of an event of default, the
Lender may declare all or part of the unpaid principal and accrued and unpaid
interest on the Loan due and payable.  Any amounts not paid to the Lender when
due will bear interest from the due date until paid at a rate of 16% per annum.
The Loan Agreement and the Note are
subject to the terms of a Leasehold Deed of Trust Agreement and Security
Agreement with respect to certain of GTDT's restaurants that were not
previously pledged as collateral under the Wells Fargo Bank or PFGI II, LLC
borrowings.  The Note is convertible into shares of common stock of the Company
(the "Conversion Shares") at any time prior to repayment at a conversion price
of 25% less than the average price of the Company's common stock during the 20
days prior to the conversion date, provided however that the conversion price
shall not be below $.75 per share nor above $1.08 per share (the "Conversion Price").
In connection with the Loan, the Company
issued warrants dated February 1, 2010 (the "Warrants") to the Lender which
provides that the Lender may at any time from February 1, 2010 until two years
from the date of repayment or conversion of the Loan purchase up to an
aggregate of 50,000 shares of the Company's common stock (the "Warrant Shares")
at an exercise price that is equal to the Conversion Price calculation above. 
If the Loan is not repaid prior to August 1, 2010, the Company will issue
warrants for the purchase of 50,000 additional shares of the Company's common
stock upon the same terms as the initial Warrants.  The number of Warrant Shares
and the exercise price are subject to customary antidilution adjustments upon
the occurrence of any stock dividends, stock splits, reverse stock splits,
recapitalizations, reclassifications, stock combinations or similar events.
2
11149096
The issuance of the Note and the Warrants
was made in reliance on the exemption from registration under the Securities
Act of 1933 (the "Securities Act") as provided in Section 4(2) of the
Securities Act.  The facts relied upon to make such exemption available include
the limited number of offerees and purchasers involved, the limited manner of
offering, the status of each purchaser as either an "accredited investor" as
defined in Regulation D under the Securities Act or sophisticated as to the
nature of the particular transaction, and the restricted status of the security
as evidenced by a customary restrictive legend on the document for the
security.  The Loan Agreement and the Warrants provide for the registration of
the Conversion Shares and the Warrant Shares within 30 days of closing on a
Form S-3 or other short form registration available to the Company.
The Loan Agreement, Note and Warrants (collectively,
the "Loan Documents") are filed as Exhibits 10.1, 10.2 and 4.1, respectively, to this Current Report on Form 8-K and
are incorporated herein by reference.  The foregoing summary of the Loan
Documents is qualified in its entirety by reference to the full text of
the Loan Documents filed as exhibits hereto.
Item 2.03        Creation
of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet
Arrangement of a Registrant.
On February 1, 2010, the Company and GTDT
obtained the Loan from the Lender.  The description of the Loan and the related
Loan Documents contained in Item 1.01 above is incorporated herein by reference.
Item
9.01        Financial Statements and Exhibits.
(d)        Exhibits. 
The following exhibits are filed as part of this report:
Exhibit
Number
Description
4.1
Warrants to Purchase Shares
  of Common Stock, Par Value $0.01 Per Share dated February 1, 2010 by Good
  Times Restaurants Inc.
10.1
Loan Agreement dated February
  1, 2010 among W Capital, John T. MacDonald, Golden Bridge, LLC, and Good
  Times Drive Thru Inc. and Good Times Restaurants Inc.
10.2
Promissory Note dated February
  1, 2010 by Good Times Drive Thru Inc. and Good Times Restaurants Inc.
3
11149096
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:  February 3, 2010                                   By:
/s/ Boyd E. Hoback
Boyd
E. Hoback
President
and Chief Executive Officer11149096