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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'>July 2, 2008</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; 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; (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; 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>

<p class=MsoFooter>DMWEST
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<p class=00Normal><b>Item 1.01&nbsp;&nbsp;&nbsp; Entry into a Material Definitive Agreement.</b></p>

<p class=00BodyText5>On July 1, 2008, Good Times Restaurants Inc. (the
&quot;Company&quot;) and Good Times Drive Thru Inc., a wholly owned subsidiary of the
Company, signed an amended and restated loan agreement and an amended and
restated promissory note with PFGI&nbsp;II, LLC (the &quot;Lender&quot;) which amends the
two previous promissory notes of $1,000,000 each first established on August 7,
2006 and amended on March 30, 2007.&nbsp; The amended loan agreement and promissory
note increases the total line of credit available to the Company to
$2,500,000.&nbsp; &nbsp;Details about the loan agreement and the line of credit were
included in a report on Form 8-K filed with the Securities and Exchange
Commission on August 7, 2006 and the amended loan agreement and the line of
credit were included in a report on Form 8-K filed with the Securities and
Exchange Commission on March 23, 2007, and are hereby incorporated by
reference.&nbsp; Proceeds from the line of credit will be used for development of
new restaurants.</p>

<p class=00BodyText5>The amended and restated promissory note provides that
interest on amounts borrowed under the line of credit will be payable monthly
at the rate of the prime rate plus two percent with a minimum interest rate of
8%.&nbsp; All unpaid principal and accrued interest will be due and payable on July
10, 2009.&nbsp; Borrowings under the agreement are secured by the Company's
leasehold estates and business assets with respect to certain of the Company's
restaurants located in Boulder, Adams, Jefferson and Larimer counties in
Colorado and is further secured by a first deed of trust on new restaurants to
be developed if the outstanding principal balance on the line of credit exceeds
$1,500,000 at any time.</p>

<p class=00BodyText5>A copy of the amended and restated loan agreement is filed
as Exhibit 10.1 and the amended and restated promissory note is filed as
Exhibit&nbsp;10.2 to this report.&nbsp; The foregoing brief description of the
promissory note is qualified in its entirety by reference to the complete text
of the promissory note filed as an exhibit to this report.</p>

<p class=00Normal style='margin-left:58.5pt;text-indent:-58.5pt'><b>Item 2.03&nbsp;&nbsp;&nbsp; Creation
of a Direct Financial Obligation or an Obligation Under an Off&#8209;Balance
Sheet Arrangement.</b></p>

<p class=00BodyText5>Please see the discussion under Item&nbsp;1.01 above,
which is hereby incorporated by reference into this Item&nbsp;2.03.</p>

<p class=00Normal><b>Item 9.01&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</b></p>

<p class=00BodyText5>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.&nbsp; The following exhibits are filed as
part of this report:</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='margin-left:72.9pt;border-collapse:collapse'>
 <tr>
  <td width=102 valign=bottom style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'><u>Exhibit No.</u></p>
  </td>
  <td width=439 valign=bottom style='width:329.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'><u>Description</u></p>
  </td>
 </tr>
 <tr>
  <td width=102 valign=top style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>10.1</p>
  </td>
  <td width=439 valign=top style='width:329.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>Amended and Restated Loan
  Agreement dated as of July 1, 2008 among PFGI&nbsp;II, LLC, Good Times Drive
  Thru, Inc. and Good Times Restaurants Inc. (incorporated by reference to
  Exhibit 10.1 to the Company's report on Form 8-K filed with the Commission on
  July 2, 2008).</p>
  </td>
 </tr>
 <tr>
  <td width=102 valign=top style='width:76.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>10.2</p>
  </td>
  <td width=439 valign=top style='width:329.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=00BodyText5 style='text-indent:0in'>Promissory Note dated July 1,
  2008 by Good Times Drive Thru, Inc. and Good Times Restaurants Inc. payable
  to PFGI II, LLC</p>
  </td>
 </tr>
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<p class=MsoNormal align=center style='text-align:center'><b>SIGNATURES</b></p>



<p class=00BodyText5>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; July 2, 2008&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; By:
<u>/s/ Boyd E. Hoback</u></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=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; 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": "08933188"}, "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 2, 2008
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))
DMWEST
#6498711 v1
Item 1.01    Entry into a Material Definitive Agreement.
On July 1, 2008, Good Times Restaurants Inc. (the
"Company") and Good Times Drive Thru Inc., a wholly owned subsidiary of the
Company, signed an amended and restated loan agreement and an amended and
restated promissory note with PFGI II, LLC (the "Lender") which amends the
two previous promissory notes of $1,000,000 each first established on August 7,
2006 and amended on March 30, 2007.  The amended loan agreement and promissory
note increases the total line of credit available to the Company to
$2,500,000.   Details about the loan agreement and the line of credit were
included in a report on Form 8-K filed with the Securities and Exchange
Commission on August 7, 2006 and the amended loan agreement and the line of
credit were included in a report on Form 8-K filed with the Securities and
Exchange Commission on March 23, 2007, and are hereby incorporated by
reference.  Proceeds from the line of credit will be used for development of
new restaurants.
The amended and restated promissory note provides that
interest on amounts borrowed under the line of credit will be payable monthly
at the rate of the prime rate plus two percent with a minimum interest rate of
8%.  All unpaid principal and accrued interest will be due and payable on July
10, 2009.  Borrowings under the agreement are secured by the Company's
leasehold estates and business assets with respect to certain of the Company's
restaurants located in Boulder, Adams, Jefferson and Larimer counties in
Colorado and is further secured by a first deed of trust on new restaurants to
be developed if the outstanding principal balance on the line of credit exceeds
$1,500,000 at any time.
A copy of the amended and restated loan agreement is filed
as Exhibit 10.1 and the amended and restated promissory note is filed as
Exhibit 10.2 to this report.  The foregoing brief description of the
promissory note is qualified in its entirety by reference to the complete text
of the promissory note filed as an exhibit to this report.
Item 2.03    Creation
of a Direct Financial Obligation or an Obligation Under an Off‑Balance
Sheet Arrangement.
Please see the discussion under Item 1.01 above,
which is hereby incorporated by reference into this Item 2.03.
Item 9.01    Financial Statements and Exhibits.
(d)       Exhibits.  The following exhibits are filed as
part of this report:
Exhibit No.
Description
10.1
Amended and Restated Loan
  Agreement dated as of July 1, 2008 among PFGI II, LLC, Good Times Drive
  Thru, Inc. and Good Times Restaurants Inc. (incorporated by reference to
  Exhibit 10.1 to the Company's report on Form 8-K filed with the Commission on
  July 2, 2008).
10.2
Promissory Note dated July 1,
  2008 by Good Times Drive Thru, Inc. and Good Times Restaurants Inc. payable
  to PFGI II, LLC
2
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 2, 2008                                          By:
/s/ Boyd E. Hoback
Boyd
E. Hoback
President
and Chief Executive Officer
3