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<SEC-DOCUMENT>0000950134-05-003076.txt : 20050214
<SEC-HEADER>0000950134-05-003076.hdr.sgml : 20050214
<ACCEPTANCE-DATETIME>20050214172659
ACCESSION NUMBER:		0000950134-05-003076
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20050214
DATE AS OF CHANGE:		20050214
GROUP MEMBERS:		BAILEY COMPANY LLLP
GROUP MEMBERS:		PAUL T BAILEY

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ERIE COUNTY INVESTMENT CO /CO/
		CENTRAL INDEX KEY:			0000033413
		IRS NUMBER:				344227790
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401
		BUSINESS PHONE:		3033840200

	MAIL ADDRESS:	
		STREET 2:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOOD TIMES RESTAURANTS INC
		CENTRAL INDEX KEY:			0000825324
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				841133368
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-42729
		FILM NUMBER:		05612844

	BUSINESS ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401
		BUSINESS PHONE:		3033841400

	MAIL ADDRESS:	
		STREET 1:		601 CORPORATE CIRCLE
		CITY:			GOLDEN
		STATE:			CO
		ZIP:			80401

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PARAMOUNT VENTURES INC
		DATE OF NAME CHANGE:	19900205
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>d22492sc13dza.htm
<DESCRIPTION>AMENDMENT TO SCHEDULE 13D
<TEXT>
<HTML>
<HEAD>
<TITLE>sc13dza</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<TABLE align="right" width="160" border="1" cellspacing="0" cellpadding="1">
<TR><TD align="center" nowrap>OMB APPROVAL</TD></TR>
<TR><TD nowrap>OMB Number: 3235-0145</TD></TR>
<TR><TD nowrap>Expires: December 31, 2005</TD></TR>
<TR><TD nowrap>Estimated average burden<BR>
hours per response...15</TD></TR></TABLE>

<BR clear="right">
<BR clear="right">

<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B><BR>
<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B></DIV>
<P align="center" style="font-size: 18pt"><B>SCHEDULE 13D</B>
<p align="center" style="font-size: 12pt"><B>INFORMATION TO BE
INCLUDED IN STATEMENTS<BR>FILED PURSUANT TO RULE 13d-1(a)
AND<BR>AMENDMENTS THERETO FILED PURSUANT TO<BR>RULE 13d-2(a)</B>
<P align="center"><B>Under the Securities Exchange Act of 1934<BR>
(Amendment No. 6)*</B>

<P><DIV align="center" style="font-size: 24pt">Good Times Restaurant Inc.</DIV>
<HR size="1" noshade>
<DIV align="center" style="font-size: 10pt">(Name of Issuer)</DIV>

<P><DIV align="center" style="font-size: 10pt">Common Stock, $0.001 par value
per share<BR>
<HR size="1" noshade>
(Title of Class of Securities)</DIV>

<P><DIV align="center" style="font-size: 10pt">000382140<BR>
<HR size="1" noshade>
(CUSIP Number)</DIV>

<P> <DIV align="center" style="font-size: 10pt"> Gary N.Meade<BR>
Jacobs Chase Frick Kleinkopf &#038;
 Kelley, LLC<BR>
1050 17th Street, Suite 1500<BR>
Denver, Colorado 80265<BR>
303-685-4800<BR>
<HR size="1" noshade>
(Name, Address and Telephone Number of Person<BR>Authorized to Receive Notices
and Communications)</DIV>
<P><DIV align="center" style="font-size: 10pt">February 10, 2005<BR>
<HR size="1" noshade>
(Date of Event Which Requires Filing of this Statement)</DIV>
<P align="left" style="font-size: 10pt">If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject
of this Schedule 13D, and is filing this schedule because of
&#167;&#167;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
<FONT face="wingdings" size="2">&#111;</FONT>
<P>
<P align="left" style="font-size: 10pt"><B>Note:</B> Schedules filed in paper
format shall include a signed original and five copies of the schedule,
including all exhibits. See &#167;240.13d-7 for other parties to whom copies are
to be sent.
<P>
<P align="left" style="font-size: 10pt"><SUP>*</SUP> The remainder of this cover
page shall be filled out for a reporting person&#146;s initial filing on this
form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a
prior cover page.
<P>
<P align="left" style="font-size: 10pt">The information required on the
remainder of this cover page shall not be deemed to be &#147;filed&#148; for the
purpose of Section 18 of the Securities Exchange Act of 1934 (&#147;Act&#148;)
or otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="5">CUSIP No. 0003821401 </td> <TD colspan="2" align="right">Page 2
of 10 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:<BR>The Bailey Company,
LLLP</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities
only):<BR>
84-0584467</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See
Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):<BR>AF</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required
Pursuant to Items 2(d) or 2(e): <FONT face="wingdings" size="2">&#111;</FONT>
</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:<BR>Colorado,
United States</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number
of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person
With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:<BR>821,512</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting
Power:<BR>0</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive
Power:<BR>821,512</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive
Power:<BR>0</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially
Owned by Each Reporting Person: <BR>821,512</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in
Row (11) Excludes Certain Shares (See Instructions):<BR> <FONT face="wingdings"
size="2">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by
Amount in Row (11):<BR>34.9%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See
Instructions):<BR>PN</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="5">CUSIP No. 0003821401 </td> <TD colspan="2" align="right">Page 3
of 10 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:<BR>The Erie County Investment
Co.</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities
only):<BR>
34-4227790</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See
Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):<BR>WC</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required
Pursuant to Items 2(d) or 2(e): <FONT face="wingdings" size="2">&#111;</FONT>
</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:<BR>United States
of America</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number
of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person
With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:<BR>0</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting
Power:<BR>1,034,792</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive
Power:<BR>0</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive
Power:<BR>1,034,792</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially
Owned by Each Reporting Person: <BR>1,034,792</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in
Row (11) Excludes Certain Shares (See Instructions):<BR> <FONT face="wingdings"
size="2">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by
Amount in Row (11):<BR>40.8%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See
Instructions):<BR>CO</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="4" style="font-size: 10pt">
<TR>
<TD width="4%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="3%">&nbsp;</TD>
<TD width="28%">&nbsp;</TD>
<TD width="14%">&nbsp;</TD>
<TD width="45%">&nbsp;</TD>
</TR>

<TR>
<TD colspan="5">CUSIP No. 0003821401 </td> <TD colspan="2" align="right">Page 4
of 10 </TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>1.</TD>
<TD valign=top colspan=3>Name of Reporting Person:<BR>Paul T. Bailey</TD>
<TD valign=top colspan=2>I.R.S. Identification Nos. of above persons (entities
only):<BR>
</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>2.</TD>
<TD valign=top colspan=5>Check the Appropriate Box if a Member of a Group (See
Instructions):</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(a)</TD>
<TD valign=top><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR>
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD valign=top>(b)</TD>
<TD valign=top><FONT face="wingdings" size="2">&#111;</FONT></TD>
<TD valign=top colspan=3>&nbsp;</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>3.</TD>
<TD valign=top colspan=5>SEC Use Only:</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>4.</TD>
<TD valign=top colspan=5>Source of Funds (See Instructions):<BR>AF</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>


<TR>
<TD>&nbsp;</TD>
<TD valign=top>5.</TD>
<TD valign=top colspan=5>Check if Disclosure of Legal Proceedings Is Required
Pursuant to Items 2(d) or 2(e): <FONT face="wingdings" size="2">&#111;</FONT>
</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR>
<TD>&nbsp;</TD>
<TD valign=top>6.</TD>
<TD valign=top colspan=5>Citizenship or Place of Organization:<BR>United States
of America</TD>
</TR>

<TR><TD colspan=7><HR noshade></TD></TR>

<TR><TD colspan="3" rowspan="8" align="center">Number
of<BR>Shares<BR>Beneficially<BR>Owned by<BR> Each Reporting<BR>Person
With</TD></TR>

<TR><TD valign=top>7.</TD>
<TD valign=top colspan=3>Sole Voting Power:<BR>58,000</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>8.</TD><TD valign=top colspan=3> Shared Voting
Power:<BR>1,034,792</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>9.</TD><TD valign=top colspan=3> Sole Dispositive
Power:<BR>58,000</TD></TR>

<TR><TD colspan=4><hr noshade></TD></TR>

<TR><TD valign=top>10.</TD><TD valign=top colspan=3>Shared Dispositive
Power:<BR>1,034,792</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>11.</TD><TD valign=top colspan=5>Aggregate Amount Beneficially
Owned by Each Reporting Person: <BR>1,092,792</TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>12.</TD><TD valign=top colspan=5>Check if the Aggregate Amount in
Row (11) Excludes Certain Shares (See Instructions):<BR> <FONT face="wingdings"
size="2">&#111;</FONT> </TD>
</TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>13.</TD><TD valign=top colspan=5>Percent of Class Represented by
Amount in Row (11):<BR>43.1%</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>

<TR><TD>&nbsp;</TD>
<TD valign=top>14.</TD><TD valign=top colspan=5>Type of Reporting Person (See
Instructions):<BR>IN</TD></TR>

<TR><TD colspan=7><hr noshade></TD></TR>
</TABLE>

<P align="center" style="font-size: 10pt">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">CUSIP No. <U>0003821401</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13D</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 5 of 10 Pages</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><B>Item&nbsp;1. Security and Issuer.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The class of equity securities to which this Amendment No.&nbsp;6 to the joint statement on
Schedule&nbsp;13D (&#147;Amendment No.&nbsp;6&#148;) relates is the common stock, par value $0.001 per share (the
&#147;Common Stock&#148;) of Good Times Restaurant Inc. (the &#147;Issuer&#148;), a Nevada corporation with its
principal executive offices at 601 Corporate Circle, Golden, Colorado 80401. Items 3, 4, 5, 6 and
7 of a Statement on Schedule&nbsp;13D previously filed by Erie County Investment Co., an Ohio
corporation (&#147;Erie&#148;), The Bailey Company, LLLP, a Colorado limited liability limited partnership
(&#147;Bailey&#148;), and Mr.&nbsp;Paul T. Bailey, an individual (&#147;Mr.&nbsp;Bailey&#148;), as amended, are further amended
as set forth below. Erie, Bailey and Mr.&nbsp;Bailey are sometimes referred to herein as &#147;The Bailey
Group.&#148;


<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Source and Amount of Funds or Other Consideration.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No change except for the addition of the following:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February&nbsp;10, 2005, Erie acquired 180,000 shares of the Issuer&#146;s Series&nbsp;B Convertible
Preferred Stock (the &#147;Series&nbsp;B Stock&#148;) in a private placement transaction for a purchase price of
$2.50 per share. The Series&nbsp;B Stock is convertible into Common Stock as set forth in Item&nbsp;4. The
acquisition of the Series&nbsp;B Stock was funded from Erie&#146;s working capital.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Purpose of Transaction.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No change except for the addition of the following:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Issuer and Erie entered into a Securities Purchase Agreement dated as of December&nbsp;30,
2004, as amended (the &#147;Purchase Agreement&#148;), whereby Erie agreed to purchase 180,000 shares of
Series&nbsp;B Stock from the Issuer. The Issuer and Erie closed the
purchase of the Series&nbsp;B Stock pursuant to the Purchase
Agreement as of February&nbsp;10, 2005. The 180,000 shares of Series&nbsp;B Stock initially will be convertible
into a total of 180,000 shares of Common Stock of the Issuer, subject to certain anti-dilution
adjustments. The Series&nbsp;B Stock will also rank senior to the Common Stock of the Issuer with
respect to dividends and rights upon liquidation, dissolution or winding up. The Series&nbsp;B Stock
will generally vote with the holders of Common Stock on all matters requiring a vote of the
stockholders of the Issuer on an as-converted basis. From and after February&nbsp;10, 2006, the holders
of the Series&nbsp;B Stock, including Erie if still a holder, will be entitled to receive cumulative
cash dividends of $0.15 per share per annum. Upon liquidation, the holders of the Series&nbsp;B Stock,
including Erie if still a holder, will be entitled to an amount equal to $2.50 per share plus all
accrued and unpaid dividends prior to any distributions being made to the holders of Common Stock.
For a complete description of all terms of the Series&nbsp;B Stock, please review the Certificate of
Designation of the Series&nbsp;B Preferred Stock that is attached as <U>Exhibit&nbsp;1</U>. In addition,
certain provisions of the Purchase Agreement will be discussed below; however, for a complete
understanding of the Purchase Agreement, please review the Purchase Agreement that is attached as
<U>Exhibit&nbsp;2</U>.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
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    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">CUSIP No. <U>0003821401</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13D</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 6 of 10 Pages</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Purchase Agreement provides certain participation rights to the purchasers of
Series&nbsp;B Stock. Therefore, before the Issuer may issue any new securities, the Issuer must offer
to Erie, along with the other purchasers of Series&nbsp;B Stock, the right, for a period of 15&nbsp;days, to
purchase for cash at the price for which such securities are being issued a number of shares of
such securities
so that Erie will continue to hold the same proportional equity interest in the Issuer. These
participation rights apply to Erie only as long as two-thirds of the Series&nbsp;B Stock, the Common Stock
issuable upon conversion of the Series&nbsp;B Stock, and the Common Stock held by Erie or its affiliates
on the date of the Purchase Agreement remain held by Erie or its affiliates. These participation
rights do not apply to certain issuances of securities, including securities issued pursuant to an
acquisition or a public offering of securities.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Issuer and Erie have entered into a Stock Restriction and Registration Rights Agreement.
The Issuer has agreed to file, at its expense, a registration statement covering resales of the
Common Stock issuable upon the conversion of the Series&nbsp;B Stock.
Erie and Bailey also entered into a
Supplemental Stock Restriction and Registration Rights Agreement, as amended (the &#147;Supplemental
Agreement&#148;) whereby it received the same registration rights and became subject to the same resale
restrictions for 821,521 shares of Common Stock currently held by Bailey as a result of Bailey&#146;s
conversion of the Issuer&#146;s prior Series&nbsp;A Convertible Preferred Stock. The Stock Restriction and
Registration Rights Agreement is attached as <U>Exhibit&nbsp;3</U>. The Supplemental Agreement is
attached as <U>Exhibit&nbsp;4</U>. An amendment to the Supplemental
Agreement that added Bailey as a
party to the Supplemental Agreement is attached as <U>Exhibit&nbsp;5</U>.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Purchase Agreement provides that notwithstanding any provision to the contrary of the
Certificate of Designation, for so long as at least two-thirds of the Series&nbsp;B Stock, the Common
Stock issuable upon conversion of the Series&nbsp;B Stock, and the Common Stock held by Erie or its
affiliates on the date of this Agreement, in the aggregate, remain held by Erie or its affiliates,
the Issuer shall not institute:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>any increase in the outstanding shares of preferred stock of any class or series without the
prior written consent of Erie; or</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>any amendment of the Certificate of Designation which materially adversely affects the
rights and preferences of the Series&nbsp;B Stock.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Purchase Agreement provides that Erie may only transfer all or any portion of or interest
in its Series&nbsp;B Stock for value pursuant to a bona fide offer to purchase. If Erie desires to sell
its Series&nbsp;B Stock pursuant to such an offer, it must give the Issuer notice which must contain a
description of all of the material terms and conditions of the offer and a copy of it, if any. The
Issuer will then have a period of 15&nbsp;days to determine whether to purchase all of Erie&#146;s Series&nbsp;B
Stock upon the terms and conditions contained in the offer to purchase.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Purchase Agreement also provides that Erie voting together as a separate class will
have the right to elect three directors of the Issuer&#146;s board of directors, two of whom shall meet


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">CUSIP No. <U>0003821401</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13D</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 7 of 10 Pages</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="left" style="font-size: 10pt">the independence criteria of Nasdaq and of any other rules and regulations applicable to the
Issuer. However, to the extent that the number of outstanding shares of Series&nbsp;B Stock and the
number of shares of Common Stock which are held by Erie are diminished as a result of sale or other
transfer, the number of directors of the Issuer&#146;s board of directors which may be elected by Erie
shall be proportionately reduced or eliminated to the extent that total number of such shares is
nearer to two-thirds, one-third or zero compared to the initial total number thereof. In
consideration of the foregoing rights, Erie will not participate in the election of directors
provisions of the Certificate of Designations.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as described in this Item&nbsp;4, none of the Reporting Persons has any present plans or
proposals which relate to or would result in any transaction, change or event specified in clauses
(a)
through (j)&nbsp;of Item&nbsp;4 of Schedule&nbsp;13D, though as a significant stockholder of the Issuer, the
Reporting Persons may, from time to time, consider one or more of such actions.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interest in Securities of the Issuer.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No change except for restatement of (a)&nbsp;and (b)&nbsp;and the addition to (c)&nbsp;as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Bailey is the direct beneficial owner of 821,512 shares of Common Stock, representing
approximately 34.9% of the voting power of the outstanding Common Stock based upon 2,354,710 shares
of Common Stock outstanding as of December&nbsp;13, 2004 (the &#147;Outstanding Shares&#148;), as set forth in the
Issuer&#146;s Proxy Statement filed on January&nbsp;13, 2005. Erie and Mr.&nbsp;Bailey are the direct beneficial
owners of 1,034,792 shares and 1,092,792 shares of Common Stock, respectively, which represent
approximately 40.8% and 43.1%, respectively, of the Outstanding Shares plus the 180,000 shares of
Common Stock the Series&nbsp;B Preferred owned by Erie are convertible into.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Bailey, Erie and Mr.&nbsp;Bailey may be deemed to share voting and dispositive power over the
821,512 shares of Common Stock held directly by Bailey. Erie and Mr.&nbsp;Bailey may be deemed to share
voting and dispositive power over the 33,280 shares of Common Stock and 180,000 shares of Series&nbsp;B
Stock held directly by Erie. Mr.&nbsp;Bailey has sole voting and dispositive power over the 58,000
shares of Common Stock held directly by Mr.&nbsp;Bailey.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The following transactions in the Issuer&#146;s securities have occurred within the last sixty
days by Erie, which purchase was a privately-negotiated transaction.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="75%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top"><U>Date</U>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top"><U>Shares of Series&nbsp;B Stock</U>
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="top"><U>Approximate Price Per Share ($)</U></TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">2/10/05
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">180,000
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$2.50</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No change except for the addition of the following:


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">CUSIP No. <U>0003821401</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13D</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 8 of 10 Pages</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The descriptions of the Purchase Agreement, the Series&nbsp;B Stock, the Stock Restriction
and Registration Rights Agreement and the Supplemental Agreement in Item&nbsp;4 above are incorporated
herein by reference in their entirety.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Material to be filed as Exhibits.</B>


<DIV align="RIGHT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Certificate of Designation of the Series&nbsp;B Preferred Stock</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Securities Purchase Agreement dated as of December&nbsp;30, 2004
between Good Times Restaurants Inc. and The Erie County
Investment Co. (previously filed as Exhibit&nbsp;10.2 to the
Issuer&#146;s Current Report on Form&nbsp;8-K filed on January&nbsp;3, 2005
(File No.&nbsp;000-18590) and incorporated herein by reference,
which Current Report erroneously lists The Bailey Company,
LLLP as a party)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Stock Restriction and Registration Rights Agreement dated as
of December&nbsp;30, 2004 among Good Times Restaurants Inc. and The
Erie County Investment Co. (previously filed as Exhibit&nbsp;10.5
to the registrant&#146;s Current Report on Form&nbsp;8-K filed on
January&nbsp;3, 2005 (File No.&nbsp;000-18590) and incorporated herein
by reference, which Current Report erroneously lists The
Bailey Company, LLLP as a party)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Supplemental Registration Rights Agreement dated as of
December&nbsp;30, 2004 between Good Times Restaurants Inc. and The
Bailey Company, LLLP (previously filed as Exhibit&nbsp;10.7 to the
registrant&#146;s Current Report on Form&nbsp;8-K on January&nbsp;3, 2005
(File No.&nbsp;000-18590) and incorporated herein by reference)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Amendment to Supplemental Stock Restriction and Registration
Rights Agreement dated as of February&nbsp;8, 2005 among Good Times
Restaurants Inc., The Erie County Investment Co., and The
Bailey Company, LLLP</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">CUSIP No. <U>0003821401</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13D</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 9 of 10 Pages</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After reasonable inquiry and to the best of my knowledge and belief, I certify that the
information set forth in this statement is true, complete and correct.

<P><DIV style="position: relative; float: left; width: 60%">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

</DIV>
<DIV style="position: relative; float: right; width: 39%">
<P align="left" style="font-size: 10pt">Date: February&nbsp;14, 2005


<P align="left" style="font-size: 10pt">THE BAILEY COMPANY, LLLP, a Colorado limited
liability limited partnership



<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>THE ERIE COUNTY INVESTMENT CO., an Ohio corporation, its general partner</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>/s/ William D. Whitehurst
<HR size="1" noshade color="#000000">
William D. Whitehurst, Vice President</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">THE ERIE INVESTMENT CO., an Ohio corporation, its
general partner



<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>/s/ William D. Whitehurst
<HR size="1" noshade color="#000000">
William D. Whitehurst, Vice President</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>/s/ William D. Whitehurst
<HR size="1" noshade color="#000000">
Paul T. Bailey<BR>
By:&nbsp;William D. Whitehurst<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By Power of Attorney</TD>
</TR>
</TABLE>

</DIV>
<BR clear="all"><BR>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
    <TD width="5%"></TD>
    <TD width="30%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">CUSIP No. <U>0003821401</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>13D</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 10 of 10 Pages</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>EXHIBIT 1</B>



<P align="center" style="font-size: 10pt"><B>Joint Filing Agreement</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with Rule&nbsp;13d-1(f) under the Securities Exchange Act of 1934, as amended, the
undersigned hereby agree to this Amendment No.&nbsp;6 to the joint filing with all other Reporting
Persons (as such term is defined in the Schedule&nbsp;13D referred to below) on behalf of each of them
of a statement on Schedule&nbsp;13D (including amendments thereto) with respect to the Common Stock, par
value $.001 per share, of Good Times Restaurants Inc. This Agreement may be executed in any number
of counterparts all of which taken together shall constitute one and the same instrument.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 14th day of February
2005.

<P><DIV style="position: relative; float: left; width: 60%">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

</DIV>
<DIV style="position: relative; float: right; width: 39%">
<P align="left" style="font-size: 10pt">Date: February&nbsp;14, 2005


<P align="left" style="font-size: 10pt">THE BAILEY COMPANY, LLLP, a Colorado limited
liability limited partnership



<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>THE ERIE COUNTY INVESTMENT CO., an Ohio corporation, its general partner</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>/s/ William D. Whitehurst
<HR size="1" noshade color="#000000">
William D. Whitehurst, Vice President</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">THE ERIE INVESTMENT CO., an Ohio corporation, its
general partner



<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>/s/ William D. Whitehurst
<HR size="1" noshade color="#000000">
William D. Whitehurst, Vice President</TD>
</TR>
</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>/s/ William D. Whitehurst
<HR size="1" noshade color="#000000">
Paul T. Bailey<BR>
By:&nbsp;William D. Whitehurst<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By Power of Attorney</TD>
</TR>
</TABLE>

</DIV>
<BR clear="all"><BR>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt"><b>Index to Exhibits</b>


<DIV align="RIGHT">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="85%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><b>Exhibit<br>Number</b></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom"><b>Description</b></TD>
</TR>

<tr><td>&nbsp;</td></tr>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Certificate of Designation of the Series&nbsp;B Preferred Stock</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Securities Purchase Agreement dated as of December&nbsp;30, 2004
between Good Times Restaurants Inc. and The Erie County
Investment Co. (previously filed as Exhibit&nbsp;10.2 to the
Issuer&#146;s Current Report on Form&nbsp;8-K filed on January&nbsp;3, 2005
(File No.&nbsp;000-18590) and incorporated herein by reference,
which Current Report erroneously lists The Bailey Company,
LLLP as a party)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Stock Restriction and Registration Rights Agreement dated as
of December&nbsp;30, 2004 among Good Times Restaurants Inc. and The
Erie County Investment Co. (previously filed as Exhibit&nbsp;10.5
to the registrant&#146;s Current Report on Form&nbsp;8-K filed on
January&nbsp;3, 2005 (File No.&nbsp;000-18590) and incorporated herein
by reference, which Current Report erroneously lists The
Bailey Company, LLLP as a party)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Supplemental Registration Rights Agreement dated as of
December&nbsp;30, 2004 between Good Times Restaurants Inc. and The
Bailey Company, LLLP (previously filed as Exhibit&nbsp;10.7 to the
registrant&#146;s Current Report on Form&nbsp;8-K on January&nbsp;3, 2005
(File No.&nbsp;000-18590) and incorporated herein by reference)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exhibit&nbsp;5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">Amendment to Supplemental Stock Restriction and Registration
Rights Agreement dated as of February&nbsp;8, 2005 among Good Times
Restaurants Inc., The Erie County Investment Co., and The
Bailey Company, LLLP</TD>
</TR>
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</DIV>


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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d22492exv99w1.htm
<DESCRIPTION>CERTIFICATE OF DESIGNATION
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt"><B>EXHIBIT 99.1</B>



<P align="center" style="font-size: 10pt"><B>AMENDMENT TO<BR>
SUPPLEMENTAL STOCK RESTRICTION AND</B>


<DIV align="center" style="font-size: 10pt"><B>REGISTRATION RIGHTS AGREEMENT</B></DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Amendment (the &#147;Amendment&#147;) to the Supplemental Stock Restriction and Registration Rights
Agreement (the &#147;Supplemental Agreement&#148;) dated as of December&nbsp;30, 2004, by and between Good Times
Restaurants Inc., a Nevada corporation (the &#147;Company&#148;), and The Erie County Investment Co., an Ohio
corporation (&#147;Erie&#148;), is executed by the Company, Erie and The Bailey Company, LLLP, a Colorado
limited liability limited partnership which is 99%-owned by Erie (&#147;The Bailey Company&#148;) (with Erie
and The Bailey Company hereinafter collectively referred to as the &#147;Investors&#148;), effective as of
February <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2005.


<P align="center" style="font-size: 10pt">RECITALS



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, the Company and the Investors desire to specify the correct shares of Additional
Common Stock that shall be subject to the Supplemental Agreement; and


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS, all capitalized terms used but not defined in this Amendment shall have the meanings
given to them in the Supplemental Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the premises, the mutual agreements contained herein, and
other good and valuable consideration, the receipt, adequacy and legal sufficiency of which are
hereby expressly acknowledged, and intending to be legally bound hereby, the Company and each of
the Investors (severally and not jointly) hereby agree as follows:


<P align="center" style="font-size: 10pt">AGREEMENT



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U>Amendment to Shares of Additional Common Stock Subject to Supplemental Agreement</U>.
The Supplemental Agreement is hereby amended to reflect that the shares of Additional Common Stock
that shall be subject to the Supplemental Agreement shall be the total of 821,512 shares of Common
Stock held by The Bailey Company as a result of The Bailey Company&#146;s conversion of the Company&#146;s
prior Series&nbsp;A Convertible Preferred Stock. By executing this Amendment, The Bailey Company shall
become a party to the Supplemental Agreement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U>Incorporation of Amendment and Remainder of Supplemental Agreement</U>. The terms and
provisions of Section&nbsp;1 of this Amendment are hereby incorporated into the Supplemental Agreement
and, except for the amendment provisions herein contained, all of the terms and provisions of the
Supplemental Agreement shall remain in full force and effect, unaltered and unchanged by this
Amendment. To the extent that the terms and provisions of this Amendment conflict with the terms
and provisions of the Supplemental Agreement, the terms and provisions of this Amendment shall
control.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<U>Counterparts; Delivery of Signed Amendment by Facsimile</U>. This Amendment may be
executed in one or more counterparts, each of which shall be deemed an original but all of which
shall constitute one and the same Amendment and shall become effective when counterparts have been
signed by each party and delivered to the other parties. This Amendment, once executed by a party,
may be delivered to the other parties hereto by facsimile transmission of a copy of this Amendment
bearing the signature of the party so delivering this Amendment.


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Company and the undersigned Investors have caused this Amendment to be
duly executed as of February <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 2005.

<P><DIV style="position: relative; float: left; width: 35%">

<P align="left" style="font-size: 10pt">THE COMPANY:


<P align="left" style="font-size: 10pt">GOOD TIMES RESTAURANTS INC.,<BR>
a Nevada corporation


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;</TD>
    <TD><BR><HR size="1" noshade color="#000000">
Boyd E. Hoback,<BR>
President and Chief Executive Officer</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">INVESTORS:


<P align="left" style="font-size: 10pt">THE ERIE COUNTY INVESTMENT CO.,<BR>
an Ohio corporation


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;</TD>
    <TD><BR><HR size="1" noshade color="#000000">
David E. Bailey, President</TD>
</TR>
</TABLE>


<P align="left" style="font-size: 10pt">THE BAILEY COMPANY, LLLP<BR>
a Colorado limited liability limited partnership


<P>
<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>By:&nbsp;&nbsp;</TD>
    <TD><BR><HR size="1" noshade color="#000000"></TD>
</TR>
</TABLE>


<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>Printed name:&nbsp;&nbsp;</TD>
    <TD><BR><HR size="1" noshade color="#000000"></TD>
</TR>
</TABLE>


<TABLE width="100%" border="0" cellpadding="2" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="1%"></TD>
    <TD width="99%"></TD>
</TR>
<TR valign="top">
    <TD nowrap>Title:&nbsp;&nbsp;</TD>
    <TD><BR><HR size="1" noshade color="#000000"></TD>
</TR>
</TABLE>

</DIV>
<BR clear="all"><BR>


<P align="center" style="font-size: 10pt">2
</DIV>


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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>3
<FILENAME>d22492exv99w5.htm
<DESCRIPTION>AMENDMENT TO SUPPLEMENT STOCK RESTRICTION AND REGISTRATION RIGHTS AGREEMENT
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">



<P align="right" style="font-size: 10pt"><B>EXHIBIT 99.5</B>



<P align="center" style="font-size: 10pt"><B>CERTIFICATE OF</B>


<DIV align="center" style="font-size: 10pt"><B>DESIGNATIONS, PREFERENCES, AND RIGHTS</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>of</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>SERIES B CONVERTIBLE PREFERRED STOCK</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>of</B></DIV>


<DIV align="center" style="font-size: 10pt"><B>GOOD TIMES RESTAURANTS INC.</B></DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Good Times Restaurants Inc., a corporation organized under the laws of the State of Nevada
(the &#147;Corporation&#148;), by its President does hereby certify:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>RESOLVED</B>, that pursuant to the authority granted and vested in the Board of Directors (the
&#147;<B>Board of Directors</B>&#148;) of Good Times Restaurants Inc. (the &#147;<B>Corporation</B>&#148;) in accordance with the
provisions of its Articles of Incorporation, the Board of Directors hereby designates a Series&nbsp;B
Convertible Preferred Stock of the Corporation&#146;s previously authorized Preferred Stock, par value
$.01 per share and hereby states the number of shares and fixes the rights, preferences,
privileges, powers and restrictions thereof as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U>Series&nbsp;B Convertible Preferred Stock</U>. One million two hundred forty thousand
shares of Preferred Stock shall be designated as Series&nbsp;B Convertible Preferred Stock and shall
have the following privileges, powers, preferences, rights and restrictions as follows:


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;<U>Number of Shares</U>. The series of Preferred Stock designated and known as Series&nbsp;B
Convertible Preferred Stock shall consist of 1,240,000 shares.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<U>Voting</U>.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <U>General</U>. Except as may be otherwise provided in this Certificate
or by law, the Series&nbsp;B Convertible Preferred Stock shall vote together with all
other classes and series of stock of the Corporation as a single class on all
actions to be taken by the stockholders of the Corporation. Each share of Series&nbsp;B
Convertible Preferred Stock shall entitle the holder thereof to a number of votes
for each share on each action as shall equal the quotient of (x)&nbsp;the $2.50 per share
purchase price for such share of Series&nbsp;B Convertible Preferred Stock paid to the
Corporation on the date of issuance of such share (the &#147;Initial Issuance Date&#148;),
divided by


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:10%; font-size: 10pt">(y)&nbsp;the greater of (A)&nbsp;the closing per share market price of the Common Stock
as reported on the Nasdaq SmallCap Market on the Initial Issuance Date, or (B)&nbsp;the
$2.50 per share purchase price for such share of Series&nbsp;B Convertible Preferred
Stock paid to the Corporation on the Initial Issuance Date. In case the Corporation
shall at any time subdivide (by stock split, stock dividend or otherwise) its
outstanding shares of Common Stock into a greater number of shares, the number of
votes for each share of Series&nbsp;B Convertible Preferred Stock in effect immediately
before such action shall be proportionately increased. In case the Corporation
shall at any time combine (by reverse stock split or otherwise) its outstanding&nbsp;shares of Common Stock into a lesser number of shares, the number of votes for each
share of Series&nbsp;B Convertible Preferred Stock in effect immediately before such
action shall be proportionately decreased.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <U>Board Size</U>. For so long as at least two-thirds of the shares of
Series&nbsp;B Convertible Preferred Stock remains outstanding and for so long as at least
two-thirds of the shares of Common Stock into which the Series&nbsp;B Convertible
Preferred Stock has been converted remains held by the former holders of such
converted Series&nbsp;B Convertible Preferred Stock, or by the affiliates of such former
holders, the Corporation shall not, without the written consent or affirmative vote
of the holders of at least three-quarters of the then outstanding votes of the&nbsp;shares of the Series&nbsp;B Convertible Preferred Stock and of all outstanding shares of
Common Stock, increase the maximum number of Directors constituting the Board of
Directors of the Corporation to a number in excess of seven.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <U>Board Seats</U>. The holders of the Series&nbsp;B Convertible Preferred
Stock and of the shares of Common Stock into which the Series&nbsp;B Convertible
Preferred Stock has been converted voting together as a separate class shall have
the right to elect three Directors of the Board of Directors of the Corporation.
Notwithstanding the foregoing, to the extent that the number of outstanding shares
of Series&nbsp;B Convertible Preferred Stock and the number of shares of Common Stock
into which the Series&nbsp;B Convertible Preferred Stock has been converted which are
held by the former holders of such converted Series&nbsp;B Convertible Preferred Stock,
or by the affiliates of such former holders, are reduced as a result of sale or
other transfer, the number of Directors of the Board of Directors of the Corporation
which may be elected by the holders thereof shall be proportionately reduced or
eliminated to the extent that total number of such shares is nearer to 66? percent,
33? percent or zero percent of the initial total number thereof. At any meeting (or
in a written consent in lieu thereof) held for the purpose of electing Directors,
the presence in person or by proxy (or the written consent) of the holders of a
majority of the shares


<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:10%; font-size: 10pt">of Series&nbsp;B Convertible Preferred Stock then outstanding and of the shares of
Common Stock into which the Series&nbsp;B Convertible Preferred Stock has been converted
which are held by the former holders of such converted Series&nbsp;B Convertible
Preferred Stock, or by the affiliates of such former holders, shall constitute a
quorum for the election of the foregoing Directors. A vacancy in any directorship
elected pursuant to this paragraph by the holders of the Series&nbsp;B Convertible
Preferred Stock and the shares of Common Stock into which the Series&nbsp;B Convertible
Preferred Stock has been converted shall be filled only by vote or written consent
of such holders.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;<U>Dividends</U>. From and after February&nbsp;10, 2006, the holders of the Series&nbsp;B
Convertible Preferred Stock shall be entitled to receive, out of funds legally available therefor
cumulative cash dividends on each share of Series&nbsp;B Convertible Preferred Stock equal to $0.15 per
annum (the &#147;Accruing Dividend&#148;). The Accruing Dividend shall accrue with respect to each share of
Series&nbsp;B Convertible Preferred Stock issued and outstanding from day to day from February&nbsp;10, 2006
and shall be payable quarterly on May&nbsp;15, August&nbsp;15, November&nbsp;15 and February&nbsp;15 of each year (each
a &#147;Payment Date&#148;) commencing May&nbsp;15, 2006, and such dividends shall be cumulative if not paid.
Notwithstanding anything to the contrary contained in the foregoing, if at any time the aggregate
cash flow of the Corporation for its four preceding fiscal quarters is less than 150&nbsp;percent of the
Corporation&#146;s aggregate principal and interest debt payments and capital lease payments during that
period, as determined in the good faith discretion of the Board of Directors, the Accruing Dividend
shall not be payable until a Payment Date upon which the foregoing condition no longer exists. At
such Payment Date the Corporation shall pay the Accruing Dividend due on that Payment Date together
with any other previously unpaid Accruing Dividends to the extent that the subtraction of such
previously unpaid Accruing Dividends and of the Accruing Dividend due and paid on such Payment Date
from aggregate cash flow for such four preceding fiscal quarters does not cause the aggregate cash
flow for such four preceding fiscal quarters to become less than 150&nbsp;percent of the Corporation&#146;s
aggregate principal and interest debt payments and capital lease payments during that period. Cash
flow of the Corporation shall mean the Corporation&#146;s net income plus interest, depreciation and
amortization expenses, plus or minus other non-cash adjustments to net income and less Accruing
Dividends paid during the applicable fiscal quarters, as determined in the good faith discretion of
the Board of Directors.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<U>Liquidation</U>. Upon any liquidation, dissolution or winding up of the Corporation,
whether voluntary or involuntary, the holders of the shares of Series&nbsp;B Convertible Preferred Stock
shall first be entitled, before any distribution or payment is made upon any Common Stock or upon
any other stock ranking junior to the Series&nbsp;B Convertible Preferred Stock with respect to rights
and preferences upon liquidation, to be paid an amount equal to $2.50 per share plus, in the case
of each share, an amount equal


<P align="center" style="font-size: 10pt">3
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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">to all Accruing Dividends accrued but unpaid thereon computed to the date payment thereof is
made (the &#147;Liquidation Preference Payment&#148;). If upon such liquidation, dissolution or winding up
of the Corporation, whether voluntary or involuntary, the assets to be distributed among the
holders of Series&nbsp;B Convertible Preferred Stock shall be insufficient to permit payment in full to
the holders of Series&nbsp;B Convertible Stock of the Liquidation Preference Payments, then the entire
assets of the Corporation to be so distributed shall be distributed ratably among the holders of
Series&nbsp;B Convertible Preferred Stock. Upon any such liquidation, dissolution or winding up of the
Corporation, immediately after the holders of Series&nbsp;B Convertible Preferred Stock shall have been
paid in full the Liquidation Preference Payments, the remaining net assets of the Corporation
available for distribution shall be distributed among the holders of stock ranking junior to the
Series&nbsp;B Convertible Preferred Stock with respect to rights and preferences upon liquidation.
Written notice of such liquidation, dissolution or winding up, stating a payment date, the amount
of the Liquidation Preference Payments and the place where such Liquidation Preference Payments
shall be payable, shall be delivered in person, mailed by certified or registered mail, return
receipt requested, or sent by telecopier, not less than twenty days prior to the payment date
stated therein, to the holders of record of Series&nbsp;B Convertible Preferred Stock, such notice to be
addressed to each such holder at his address as shown by the records of the Corporation. The
consolidation or merger of the Corporation into or with any other entity or entities which results
in the exchange of more than fifty percent of the voting power or shares of the Corporation for
securities or other consideration issued or paid or caused to be issued or paid by any such entity
or affiliate thereof (other than a merger to reincorporate the Corporation in a different
jurisdiction), and the sale, lease, transfer or other disposition (but exclusive of a collateral
pledge) by the Corporation of all or substantially all its assets, shall be deemed to be a
liquidation, dissolution or winding up of the Corporation within the meaning of the provisions of
this paragraph (d).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;<U>Restrictions</U>. For so long as at least two-thirds of the shares of Series&nbsp;B
Convertible Preferred Stock remains outstanding and for so long as at least two-thirds of the&nbsp;shares of Common Stock into which the Series&nbsp;B Convertible Preferred Stock has been converted
remains held by the former holders of such converted Series&nbsp;B Convertible Preferred Stock, without
the written consent or affirmative vote of the holders of three-quarters of the then outstanding
votes of the shares of the Series&nbsp;B Convertible Preferred Stock and the shares of the Common Stock,
the Corporation shall not:



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Liquidate, dissolve or wind up the Corporation; consolidate or merge into
or with any other entity or entities which results in the exchange of more than
fifty percent of the voting power or shares of the Corporation (other than a merger
to reincorporate the Corporation in a different jurisdiction); or sell, lease,
abandon, transfer or otherwise dispose of in


<P align="center" style="font-size: 10pt">4
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:10%; font-size: 10pt">excess of substantially all of the Corporation&#146;s total assets (but exclusive of
a collateral pledge);



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Amend, alter or repeal its Articles of Incorporation;



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Institute any increase in the outstanding shares of Preferred Stock of
any class or series;



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Institute any amendment of the Bylaws of the Corporation which is directly
detrimental to the rights and preferences of the Series&nbsp;B Convertible Preferred
Stock; or



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Institute any payment of cash dividends or other distributions on any&nbsp;shares of Common Stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;<U>Conversion</U>. The holders of shares of Series&nbsp;B Convertible Preferred Stock shall
have the following conversion rights:



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <U>Right to Convert</U>. Subject to the terms and conditions of this
paragraph (f), the holders of Series&nbsp;B Convertible Preferred Stock shall have the
right at any time to convert the shares of Series&nbsp;B Convertible Preferred Stock into
an equal number of fully paid and nonassessable shares of Common Stock. Such right
of conversion shall be exercised by the holder thereof by giving written notice to
the Corporation stating that the holder elects to convert a stated number of shares
of Series&nbsp;B Convertible Preferred Stock into Common Stock and by surrender of a
certificate or certificates for the shares so to be converted to the Corporation at
its principal office (or such other office or agency of the Corporation as the
Corporation may designate by notice in writing to the holders of the Series&nbsp;B
Convertible Preferred Stock) at any time during its usual business hours on the date
set forth in such notice, together with a statement of the name or names, with
addresses, in which the certificate or certificates for shares of Common Stock shall
be issued.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) <U>Issuance of Certificate; Time Conversion Effected</U>. Promptly after
the receipt of the written notice referred to in subparagraph (f)(i) and surrender
of the certificate or certificates for the share or shares of Series&nbsp;B Convertible
Preferred Stock to be converted, the Corporation shall issue and deliver, to the
holder, registered in such name or names as such holder may direct, a certificate or
certificates for an equal number of whole shares of Common Stock issuable upon the
conversion of such shares of Series&nbsp;B Convertible Preferred Stock. Such conversion
shall be deemed to have been effected as of the close of business on the date on
which such written notice shall have been received by the Corporation and the
certificate or


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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:10%; font-size: 10pt">certificates for such share or shares shall have been surrendered, and at such
time the rights of the holder of such share or shares of Series&nbsp;B Convertible
Preferred Stock shall cease and the person or persons in whose name or names any
certificate or certificates for shares of Common Stock shall be issuable upon such
conversion shall be deemed to have become the holder or holders of record of the&nbsp;shares represented thereby.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) <U>Fractional Shares; Dividends; Partial Conversion</U>. No fractional&nbsp;shares shall be issued upon conversion of Series&nbsp;B Convertible Preferred Stock into
Common Stock. If the number of shares of Series&nbsp;B Convertible Preferred Stock
represented by the certificate or certificates surrendered pursuant to subparagraph
(f)(i) exceeds the number of shares converted, the Corporation shall, upon such
conversion, execute and deliver to the holder, at the expense of the Corporation, a
new certificate or certificates for the number of shares of Series&nbsp;B Convertible
Preferred Stock represented by the certificate or certificates surrendered which are
not converted. If any fractional share of Common Stock would, except for the
provisions of the first sentence of this subparagraph (f)(iii), be delivered upon
such conversion, the Corporation, in lieu of delivering such fractional share, shall
pay to the holder surrendering the Series&nbsp;B Convertible Preferred Stock for
conversion an amount in cash equal to the current fair market value of such
fractional share as determined in the good faith discretion of the Board of
Directors of the Corporation.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) <U>Subdivision or Combination of Common Stock</U>. In case the
Corporation shall at any time subdivide (by stock split, stock dividend or
otherwise) its outstanding shares of Common Stock into a greater number of shares,
the number of shares of Common Stock into which the Series&nbsp;B Convertible Preferred
Stock is convertible shall be proportionately increased. In case the Corporation
shall at any time combine (by reverse stock split or otherwise) its outstanding&nbsp;shares of Common Stock into a lesser number of shares, the number of shares of
Common Stock into which the Series&nbsp;B Convertible Preferred Stock is convertible
shall be proportionately decreased.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) <U>Reorganization or Reclassification</U>. If any capital reorganization
or reclassification of the capital stock of the Corporation shall be effected in
such a way that holders of Common Stock shall be entitled to receive stock,
securities or assets with respect to or in exchange for Common Stock, then, as a
condition of such reorganization or reclassification, lawful and adequate provisions
shall be made whereby each holder of Series&nbsp;B Convertible Preferred Stock shall upon
conversion of the Series&nbsp;B Convertible Preferred Stock as described in this
Certificate


<P align="center" style="font-size: 10pt">6
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<P align="left" style="margin-left:10%; font-size: 10pt">have the right to receive, upon the basis and upon the terms and conditions
specified herein and in lieu of the shares of Common Stock immediately therefor
receivable upon the conversion of such share or shares of Series&nbsp;B Convertible
Preferred Stock, such shares of stock, securities or assets as may be issued or
payable with respect to or in exchange for a number of outstanding shares of Common
Stock equal to the number of shares of such Common Stock immediately receivable upon
such conversion had such reorganization or reclassification not taken place. In any
such case, appropriate provisions shall be made with respect to the rights and
interests of such holder to the end that the provisions hereof shall thereafter be
applicable, as nearly as may be, in relation to any shares of stock, securities or
assets thereafter deliverable upon the exercise of such conversion rights.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) <U>Price Protection</U>. In the event that the Corporation shall at any
time issue any shares of Common Stock, or securities entitling the holder thereof to
acquire shares of Common Stock, for a consideration of less than $2.50 per share of
Common Stock, exclusive of any such issuance pursuant to commitments or rights
outstanding on the date of this Certificate or pursuant to options or other equity
incentives granted at any time to employees, consultants or Directors of the
Corporation (provided that such excluded options or equity incentives are approved
by a majority of the disinterested members of the Board of Directors of the
Corporation), the number of shares into which the Series&nbsp;B Convertible Preferred
Stock shall be convertible shall be increased by one hundred percent less a
percentage resulting from a fraction the denominator of which is the number of&nbsp;shares of Common Stock outstanding at the time of such issuance plus the number of&nbsp;shares of Common Stock issued or issuable at such lesser consideration and the
numerator of which is the number of shares of Common Stock of the Corporation
outstanding at the time of such issuance plus the number of shares of Common Stock
which would have been issued or issuable at a consideration of $2.50 per share. In
the event of any subdivision or combination of Common Stock as described in
paragraph (f)(iv), the foregoing $2.50 per share of Common Stock consideration shall
be proportionately decreased or increased to reflect such changed number of
outstanding shares of Common Stock.



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) <U>Mandatory Conversion</U>. Notwithstanding anything to the contrary
contained in this Certificate, at any time on or after February&nbsp;10, 2006, the
Corporation by notice to the holders of the Series&nbsp;B Convertible Preferred Stock may
require that all of the Series&nbsp;B Convertible Preferred Stock be converted to shares
of Common Stock in accordance with the provisions of this Certificate provided that
(i)&nbsp;at the time of such notice the Common Stock of the Corporation is listed for
trading on a nationally


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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:10%; font-size: 10pt">recognized securities exchange or automated quotation system and for a
continuous period of at least six months prior to the date of such notice the
closing market price of the Common Stock on each day during such period has been
greater than $5.00 per share and (ii)&nbsp;during the foregoing six-month period the
Corporation has publicly reported its financial results for its most recently
completed two fiscal quarters prior to the date of such notice. In the event of any
subdivision or combination of the Common Stock of the Corporation as described in
subparagraph (f)(iv) above, such $5.00 per share closing market price shall be
proportionately decreased or increased to reflect such changed number of outstanding&nbsp;shares of Common Stock. At the time of each conversion, the Corporation shall pay
in cash an amount equal to all Accruing Dividends unpaid on the shares of Series&nbsp;B
Convertible Preferred Stock surrendered for conversion to the date upon which such
conversion is deemed to take place as provided in subparagraph (f)(ii).



<P align="left" style="margin-left:10%; font-size: 10pt">(g) <U>Other Notices</U>. In case at any time:



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Corporation shall declare any dividend or other distribution upon its
Common Stock payable in cash or stock or make any other distribution to the holders
of its Common Stock;



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the Corporation shall offer for subscription to the holders of its Common
Stock any additional shares of stock of any class or other rights;



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) there shall be any capital reorganization or reclassification of the
capital stock of the Corporation, or a consolidation or merger of the Corporation
with or into another entity or entities which results in the issuance or exchange of
more than fifty percent of the voting power or shares of the Corporation, or a sale,
lease, abandonment, transfer or other disposition of all or substantially all its
assets(exclusive of a collateral pledge); or



<P align="left" style="margin-left:10%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) there shall be a voluntary or involuntary dissolution, liquidation or
winding up of the Corporation;

<P align="left" style="font-size: 10pt">then, in any one or more of such cases, the Corporation shall give, by delivery in person,
certified or registered mail, return receipt requested or telecopier, addressed to each holder of
any shares of Series&nbsp;B Convertible Preferred Stock at the address of such holder as shown on the
books of the Corporation, (a)&nbsp;at least ten days&#146; prior written notice of the date on which the
books of the Corporation shall close or a record shall be taken for such dividend, distribution or
subscription rights in respect of any such reorganization, reclassification, consolidation, merger,
disposition, dissolution, liquidation or winding up,



<P align="center" style="font-size: 10pt">8
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">and (b)&nbsp;in the case of any such reorganization, reclassification, consolidation, merger,
disposition, dissolution, liquidation or winding up, at least ten days&#146; prior written notice of the
date when the same shall take place. Such notice in accordance with the foregoing clause (a)&nbsp;shall
also specify, in the case of any such dividend, distribution or subscription rights, the date on
which the holders of Common Stock shall be entitled thereto and such notice in accordance with the
foregoing clause (b)&nbsp;shall also specify the date on which the holders of Common Stock shall be
entitled to exchange their Common Stock for securities or other property deliverable upon such
reorganization, reclassification, consolidation, merger, disposition, dissolution, liquidation or
winding up, as the case may be.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)&nbsp;<U>Stock to be Reserved</U>. The Corporation shall at all times reserve and keep
available out of its authorized Common Stock, solely for the purpose of issuance upon the
conversion of Series&nbsp;B Convertible Preferred Stock as herein provided, such number of shares of
Common Stock as shall then be issuable upon the conversion of all outstanding shares of Series&nbsp;B
Convertible Preferred Stock. The Corporation covenants that all shares of Common Stock which shall
be so issued shall be duly and validly issued and fully paid and nonassessable and free from all
taxes, liens and charges with respect to the issue thereof. The Corporation shall take all such
action as may be necessary to assure that all such shares of Common Stock may be so issued without
violation of any applicable law or regulation, or of any requirement of any securities exchange
upon which the Common Stock may be listed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;<U>No Reissuance of Series&nbsp;B Convertible Preferred Stock</U>. Shares of Series&nbsp;B
Convertible Preferred Stock which are converted into shares of Common Stock as provided herein
shall not be reissued.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)&nbsp;<U>Closing of Books</U>. The corporation shall at no time close its transfer books
against the transfer of any Series&nbsp;B Convertible Preferred Stock or of any shares of Common Stock
issued or issuable upon the conversion of any shares of Series&nbsp;B Convertible Preferred Stock in any
manner which interferes with the timely conversion of such Series&nbsp;B Convertible Preferred Stock,
except as may otherwise be required to comply with applicable securities laws.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)&nbsp;<U>Definition of Common Stock</U>. As used herein, the term &#147;Common Stock&#148; shall mean
and include the Corporation&#146;s authorized Common Stock, par value $0.001 per share, as constituted
on the date of this Certificate, and shall also include any capital stock of any class of the
Corporation thereafter authorized which shall not be limited to a fixed sum or percentage in
respect of the rights of the holders thereof to participate in dividends or in the distribution of
assets upon the voluntary or involuntary liquidation, dissolution or the distribution of assets
upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation;
provided that the shares of Common Stock receivable upon conversion of shares of Series&nbsp;B
Convertible Preferred Stock shall include only shares designated as Common Stock of the Corporation
on the


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<DIV style="font-family: 'Times New Roman',Times,serif">
<P align="left" style="font-size: 10pt">date of this Certificate, or in case of any reorganization or reclassification of the
outstanding shares thereof, the stock, securities or assets provided for in subparagraph (f)(v).



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)&nbsp;<U>Definition of Preferred Stock</U>. As used herein, the term &#147;Preferred Stock&#148; shall
mean and include the Corporation&#146;s authorized preferred stock, par value $0.001 per share.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)&nbsp;<U>Definition Affiliate</U>. As used herein, the term &#147;affiliate&#148; shall mean a spouse,
parent or child of the transferor, or a trust for the benefit thereof, or a business entity
controlling, controlled by or under common control with the transferor.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U>Amendments</U>. No provision of this Certificate of the terms of the Series&nbsp;B
Convertible Preferred Stock may be amended, modified or waived without the written consent or
affirmative vote of the holders of at least three-quarters of the then outstanding shares of Series
B Convertible Preferred Stock.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, this Certificate of Designation is executed on behalf of the Corporation
by its President and Chief Executive Officer this <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> day of February, 2005.


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">GOOD TIMES RESTAURANTS INC.<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Boyd E. Hoback, President and&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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