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<title>Form 8-K</title>


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  <p class=MsoTitle><b>&nbsp;</b></p>
  <p class=MsoTitle><b>&nbsp;</b></p>
  <p class=MsoTitle><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>
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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>
  </td>
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  <p class=MsoNormal><b>&nbsp;</b></p>
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  <p class=MsoNormal align=center style='text-align:center'>Pursuant to Section
  13 or 15(d) of the Securities Exchange Act of 1934</p>
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  </td>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>Date of Report
  (Date of earliest event reported)</p>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>January 12, 2011
  (January 7, 2011)</p>
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  </td>
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  <p class=MsoNormal align=center style='text-align:center'><b>Good Times
  Restaurants Inc.</b></p>
  </td>
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  <p class=MsoNormal align=center style='text-align:center'>(Exact name of
  registrant as specified in its charter)</p>
  </td>
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  <td width=234 valign=top style='width:175.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>Nevada</p>
  </td>
  <td width=186 valign=top style='width:139.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>000-18590</p>
  </td>
  <td width=216 valign=top style='width:2.25in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>84-1133368</p>
  </td>
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  <p class=MsoNormal align=center style='text-align:center'>(State or other
  jurisdiction of incorporation)</p>
  </td>
  <td width=186 valign=top style='width:139.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>(Commission File
  Number)</p>
  </td>
  <td width=216 valign=top style='width:2.25in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>(IRS Employer
  Identification No.)</p>
  </td>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <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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  </td>
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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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  </td>
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  <p class=MsoNormal align=center style='text-align:center'>Not applicable</p>
  </td>
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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>
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  <td width=638 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>
  </td>
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  </td>
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  <td width=638 valign=top style='width:6.65in;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>
  </td>
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  </td>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>[_] Soliciting material pursuant to Rule 14a-12 under the
  Exchange Act (17 CFR 240.14a-12)</p>
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  </td>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>[_] Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
  </td>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>

  </td>
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  <td width=638 valign=top style='width:6.65in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>[_] Pre-commencement communications pursuant to Rule
  13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
  </td>
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<p class=MsoNormal><b>Item 3.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing</b></p>



<p class=MsoNormal style='text-align:justify;text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On
January 7, 2011, Good Times Restaurants Inc. (the &quot;Company&quot;) received a Nasdaq
Staff Deficient/Compliant Letter (the &quot;Letter&quot;) from the Nasdaq Stock Market
Listing Qualifications Department (the &quot;Staff&quot;) informing the Company of the
Staff's determination that the appointment of Geoffrey Bailey to the Company's
Audit Committee violated Nasdaq Listing Rule 5605(c)(2)(A) (the &quot;Listing Rule&quot;),
which requires that each Audit Committee member meet the criteria for
independence set forth in Rule 10A-3(b)(1) promulgated under the Securities
Exchange Act of 1934 (the &quot;Exchange Act&quot;).&nbsp; Because Mr. Bailey is a director
and executive officer of The Erie Investment Company, which is the beneficial
owner of 12.43% of the Company's outstanding common stock, he does not satisfy
the criteria for independence set forth in Rule 10A-3(b)(1) under the Exchange
Act.&nbsp; Accordingly, upon Mr. Bailey's appointment to the Audit Committee, the
Company became noncompliant with the Listing Rule.</p>



<p class=MsoNormal style='text-align:justify;text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; However,
on December 28, 2011, the Company's Board of Directors passed a resolution
removing Mr. Bailey from the Audit Committee and electing Mr. Gary Heller to
the Audit Committee, in each case effective as of December 28, 2011.&nbsp; As a
result of these actions, the Audit Committee is now comprised of three
directors, each of whom is qualified to serve on the Audit Committee under the
Listing Rule.&nbsp; Accordingly, the Staff has determined that the Company has
regained compliance with the Listing Rule and that the matter is resolved.&nbsp;
Therefore, the Letter does not impact the listing of the Company's common stock.</p>

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

<p class=MsoNormal><b>Item 5.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendments to Articles of
Incorporation or Bylaws; Change in Fiscal Year.</b></p>

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

<p class=MsoNormal style='text-align:justify;text-autospace:none'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Effective
on December 31, 2010, the Company implemented a 1-for-3 reverse stock split
with respect to issued and outstanding shares of its common stock, in which every
three shares of the Company's common stock issued and outstanding immediately
prior to the reverse stock split were automatically exchanged for one share of
common stock, with any fractional shares resulting from the exchange being
rounded up to the nearest whole share. As previously disclosed in a current
report filed on December 17, 2010, the reverse stock split was authorized by
the Company's stockholders at a special meeting held on December 13, 2010 and approved
by the Company's Board of Directors on December 13, 2010.&nbsp; </p>



<p class=MsoNormal style='text-align:justify;text-indent:.5in;text-autospace:
none'>On January 10, 2011, the Company filed a Certificate of Change with the
Nevada Secretary of State to reflect the reverse stock split.&nbsp; A copy of the
Certificate of Change is attached hereto as Exhibit 3.1.</p>



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



<p class=MsoNormal>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>



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  <p class=MsoNormal><u>Exhibit No.</u></p>
  </td>
  <td width=546 valign=top style='width:409.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><u>Description of Exhibit</u></p>
  </td>
 </tr>
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  <td width=85 valign=top style='width:63.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>3.1</p>
  </td>
  <td width=546 valign=top style='width:409.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><a href="nevadafilestamped.jpg">Certificate of Change of
  Good Times Restaurants Inc.</a></p>
  </td>
 </tr>
</table>





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



<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>
  </td>
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  </td>
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  </td>
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  </td>
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  </td>
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  <p class=MsoNormal>Date: January 12, 2011</p>
  </td>
  <td width=360 valign=bottom style='width:3.75in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal><i><u>/s/ Boyd E. Hoback</u></i></p>
  </td>
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  </td>
  <td width=360 valign=top style='width:3.75in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Boyd E. Hoback</p>
  </td>
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  </td>
  <td width=360 valign=top style='width:3.75in;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>President and Chief Executive Officer</p>
  </td>
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  <p class=MsoFooter>2</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": "11525499"}, "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"}}
Form 8-K
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)
January 12, 2011
  (January 7, 2011)
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))
Item 3.01              Notice of Delisting or Failure to
Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On
January 7, 2011, Good Times Restaurants Inc. (the "Company") received a Nasdaq
Staff Deficient/Compliant Letter (the "Letter") from the Nasdaq Stock Market
Listing Qualifications Department (the "Staff") informing the Company of the
Staff's determination that the appointment of Geoffrey Bailey to the Company's
Audit Committee violated Nasdaq Listing Rule 5605(c)(2)(A) (the "Listing Rule"),
which requires that each Audit Committee member meet the criteria for
independence set forth in Rule 10A-3(b)(1) promulgated under the Securities
Exchange Act of 1934 (the "Exchange Act").  Because Mr. Bailey is a director
and executive officer of The Erie Investment Company, which is the beneficial
owner of 12.43% of the Company's outstanding common stock, he does not satisfy
the criteria for independence set forth in Rule 10A-3(b)(1) under the Exchange
Act.  Accordingly, upon Mr. Bailey's appointment to the Audit Committee, the
Company became noncompliant with the Listing Rule.
However,
on December 28, 2011, the Company's Board of Directors passed a resolution
removing Mr. Bailey from the Audit Committee and electing Mr. Gary Heller to
the Audit Committee, in each case effective as of December 28, 2011.  As a
result of these actions, the Audit Committee is now comprised of three
directors, each of whom is qualified to serve on the Audit Committee under the
Listing Rule.  Accordingly, the Staff has determined that the Company has
regained compliance with the Listing Rule and that the matter is resolved. 
Therefore, the Letter does not impact the listing of the Company's common stock.
Item 5.03.             Amendments to Articles of
Incorporation or Bylaws; Change in Fiscal Year.
Effective
on December 31, 2010, the Company implemented a 1-for-3 reverse stock split
with respect to issued and outstanding shares of its common stock, in which every
three shares of the Company's common stock issued and outstanding immediately
prior to the reverse stock split were automatically exchanged for one share of
common stock, with any fractional shares resulting from the exchange being
rounded up to the nearest whole share. As previously disclosed in a current
report filed on December 17, 2010, the reverse stock split was authorized by
the Company's stockholders at a special meeting held on December 13, 2010 and approved
by the Company's Board of Directors on December 13, 2010.
On January 10, 2011, the Company filed a Certificate of Change with the
Nevada Secretary of State to reflect the reverse stock split.  A copy of the
Certificate of Change is attached hereto as Exhibit 3.1.
Item 9.01.             Financial Statements and Exhibits.
(d)           Exhibits.
Exhibit No.
Description of Exhibit
3.1
Certificate of Change of
  Good Times Restaurants Inc.
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: January 12, 2011
/s/ Boyd E. Hoback
Boyd E. Hoback
President and Chief Executive Officer
2