"The election of Steve Johnson and Reuven Har-Even to our Board of Directors will be another key step forward for the Company. Steve has deep experience in the restaurant industry on the operating and financial sides of the business in both public and private company environments and he brings a wealth of knowledge and contacts that should be beneficial to our growth and development,” said David Dobbin, Chairman of the Board. Dobbin added, “Reuven is an experienced financial executive, having grown and monetized multiple companies with longstanding relationships in the investment community. We have a very highly qualified Board of Directors for a company of our size that can provide high quality governance and guidance as we accelerate our growth as a public company.”The Company also reported that due to illness Neil Calvert has ceased to be a member of the Board of Directors and to act as independent member and chairman of the Board’s Audit Committee. Alan Teran will act as interim head of the audit committee now consisting of himself and Gary Heller. A third independent Director will be added to the Audit Committee promptly after the September 27 Annual Meeting of Shareholders. Both Mr. Johnson and Mr. Har-Even will constitute independent Directors and their election will also cause the Company to again have a majority of independent directors. Prior to such Board additions the Company is not in compliance with Nasdaq requirements. About Good Times Restaurants Inc. Good Times Restaurants Inc. (GTIM) is a regional chain of quick service restaurants located primarily in Colorado providing a menu of high quality all natural hamburgers, 100% all natural chicken tenderloins, fresh frozen custard, fresh cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 38 restaurants. Bad Daddy’s Burger Bar is a full service, upscale, “small box” restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy, family friendly atmosphere. Bad Daddy’s has received both local and national accolades for the quality and originality of its food and was most recently named a top 25 burger in the U.S. by USA Today.
Good Times Forward Looking StatementsThis press release contains forward looking statements within the meaning of federal securities laws. The words “intend,” “may,” “believe,” “will,” “should,” “anticipate,” “expect,” “seek” and similar expressions are intended to identify forward looking statements. These statements involve known and unknown risks, which may cause Good Times’ actual results to differ materially from results expressed or implied by the forward looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the “Risk Factors” section of Good Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2012 filed with the SEC. Although Good Times may from time to time voluntarily update its forward looking statements, it disclaims any commitment to do so except as required by securities laws.