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<SEC-DOCUMENT>0000825324-08-000009.txt : 20080312
<SEC-HEADER>0000825324-08-000009.hdr.sgml : 20080312
<ACCEPTANCE-DATETIME>20080312142640
ACCESSION NUMBER:		0000825324-08-000009
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20080312
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20080312
DATE AS OF CHANGE:		20080312

FILER:

	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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-18590
		FILM NUMBER:		08683244

	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>8-K
<SEQUENCE>1
<FILENAME>cedaform8k1.htm
<TEXT>
<html>

<head>
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<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>_</title>



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<body lang=EN-US link=blue vlink=purple>



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

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









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

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

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

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



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

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

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

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

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



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

<p class=MsoNormal align=center style='text-align:center'>March 12, 2008</p>



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

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



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 style='border-collapse:collapse'>
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  <td width=223 valign=top style='width:167.05pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Nevada</p>
  </td>
  <td width=198 valign=top style='width:148.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>000-18590</p>
  </td>
  <td width=210 valign=top style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>84-1133368</p>
  </td>
 </tr>
 <tr>
  <td width=223 valign=top style='width:167.05pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>(State or other
  jurisdiction</p>
  </td>
  <td width=198 valign=top style='width:148.85pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>(Commission File Number)</p>
  </td>
  <td width=210 valign=top style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>(IRS Employer</p>
  </td>
 </tr>
 <tr>
  <td width=223 valign=top style='width:167.05pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>of incorporation)</p>
  </td>
  <td width=198 valign=top style='width:148.85pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=210 valign=top style='width:157.5pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Identification No.)</p>
  </td>
 </tr>
</table>





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

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



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



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

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





<p class=MsoNormal>Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General
Instruction A.2.):<br>
<br>
[_] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)<br>
<br>
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)<br>
<br>
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))<br>
<br>
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))</p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>












<p class=MsoNormal style='margin-left:59.4pt;text-indent:-59.4pt'><b>ITEM
8.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other
Events</b></p>







<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On March 12, 2008 Good Times Restaurants Inc. issued a
press release announcing that its wholly owned subsidiary, Good Times Drive
Thru Inc. had completed the acquisition of the assets of two existing Good
Times Drive Thru franchised restaurants in Denver, Colorado owned by CEDA
Enterprises, Inc., including the real estate underlying one of the
restaurants.&nbsp; Total consideration for the purchase of the restaurants of $1,355,000
included the elimination of notes receivable from the franchisee, cash and
proceeds from a simultaneous sale leaseback transaction in which the land and
building for one of the restaurants was sold for net proceeds of approximately
$863,000 and leased back to the Company under a long term lease.</p>



<p class=MsoNormal>&nbsp;<a
name="part_1_2_2"></a><a name="item_1_47_1"></a></p>

<p class=MsoNormal style='margin-left:59.4pt;text-indent:-59.4pt'><b>Item
9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits</b></p>





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





<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=576
 style='margin-left:.5in;border-collapse:collapse'>
 <tr style='height:15.75pt'>
  <td width=96 valign=bottom style='width:1.0in;border:none;border-bottom:solid black 1.0pt;
  padding:0in 0in 0in 0in;height:15.75pt'>
  <p class=MsoNormal align=center style='text-align:center'><b>Exhibit&nbsp;No.</b></p>
  </td>
  <td width=6 valign=bottom style='width:4.5pt;padding:0in 0in 0in 0in;
  height:15.75pt'>
  <p class=MsoNormal align=center style='text-align:center'><b>&nbsp;</b></p>
  </td>
  <td width=474 valign=bottom style='width:355.5pt;border:none;border-bottom:
  solid black 1.0pt;padding:0in 0in 0in 0in;height:15.75pt'>
  <p class=MsoNormal><b>Description</b></p>
  </td>
 </tr>
 <tr style='height:35.85pt'>
  <td width=96 valign=top style='width:1.0in;padding:0in 0in 0in 0in;
  height:35.85pt'>
  <p class=MsoNormal align=center style='text-align:center'>10.1</p>
  </td>
  <td width=6 valign=bottom style='width:4.5pt;padding:0in 0in 0in 0in;
  height:35.85pt'>

  </td>
  <td width=474 valign=bottom style='width:355.5pt;padding:0in 0in 0in 0in;
  height:35.85pt'>
  <p class=MsoNormal>Letter Agreement dated as
  of February 29, 2008 between Good Times Drive Thru Inc. and CEDA Enterprises
  Inc.</p>
  </td>
 </tr>
 <tr style='height:26.1pt'>
  <td width=96 valign=top style='width:1.0in;padding:0in 0in 0in 0in;
  height:26.1pt'>
  <p class=MsoNormal align=center style='text-align:center'>10.2</p>
  </td>
  <td width=6 valign=bottom style='width:4.5pt;padding:0in 0in 0in 0in;
  height:26.1pt'>

  </td>
  <td width=474 valign=bottom style='width:355.5pt;padding:0in 0in 0in 0in;
  height:26.1pt'>
  <p class=MsoNormal>Letter Agreement dated as
  of February 29, 2008 between Good Times Drive Thru Inc. and CEDA Enterprises
  Inc. and CEJ Investments, LLC</p>
  </td>
 </tr>
 <tr style='height:12.4pt'>
  <td width=96 valign=bottom style='width:1.0in;padding:0in 0in 0in 0in;
  height:12.4pt'>
  <p class=MsoNormal align=center style='text-align:center'>99.1</p>
  </td>
  <td width=6 valign=bottom style='width:4.5pt;padding:0in 0in 0in 0in;
  height:12.4pt'>

  </td>
  <td width=474 valign=bottom style='width:355.5pt;padding:0in 0in 0in 0in;
  height:12.4pt'>
  <p class=MsoNormal>Good Times
  Restaurants,&nbsp;Inc., Press Release dated March 12, 2008</p>
  </td>
 </tr>
</table>



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





<h3><b>SIGNATURES</b></h3>



<p class=MsoBodyTextIndent3>Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</p>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
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  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>GOOD TIMES RESTAURANTS IN
  C.</p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Date: March 12, 2008</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>By: /s/ <u>Boyd E. Hoback</u></p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Boyd E. Hoback</p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>President and Chief
  Executive Officer</p>
  </td>
 </tr>
</table>



<div>

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 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p class=MsoFooter>2</p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



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



</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>letteragreehampdenjones1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>[GOOD TIMES LETTERHEAD]</title>



</head>

<body lang=EN-US>















<p class=MsoNormal align=center style='text-align:center'>Effective as of February
29, 2008</p>





<p class=MsoNormal>February 20, 2008</p>

<p class=MsoNormal>Neil Jones, President </p>

<p class=MsoNormal>CEDA Enterprises, Inc. </p>

<p class=MsoNormal>19322 E. Chaffee Avenue</p>

<p class=MsoNormal>Denver, CO&nbsp; 80249</p>





<p class=MsoNormal>Dear Neil:</p>



<p class=MsoNormal style='text-align:justify;text-indent:.5in'>This letter agreement
(&quot;Agreement&quot;) will set forth the terms and conditions for the purchase by Good
Times Drive Thru Inc., a Colorado corporation (&quot;Good Times&quot;), of the restaurant
building, all other improvements currently existing on the real property and
all personal property and other assets which comprise the existing Good Times
restaurant located at 8930 E. Hampden Avenue, Denver, Colorado&nbsp; 80231 (the
&quot;Restaurant&quot;), from CEDA Enterprises, Inc., a Colorado corporation (&quot;CEDA
Restaurants&quot;).&nbsp; CEDA Restaurants is hereinafter referred to as &quot;Seller&quot;.&nbsp; </p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Purchased
Assets; Assumed Liabilities</u>.&nbsp; The property and assets of the Restaurant
consist of the restaurant building, all other improvements currently existing
on the real property, all furniture, fixtures, smallwares, signage, equipment,
goodwill, personal property and all other assets, tangible and intangible property
and business of every kind, character and nature whatsoever with respect to the
Restaurant, including, without limitation, the items set forth on <u>Exhibit A</u>
attached hereto (collectively, the &quot;Personal Property&quot;), all of which are
currently owned by CEDA Restaurants.&nbsp; All of the foregoing Personal Property are
hereinafter referred to collectively as the &quot;Assets.&quot;&nbsp; Upon and subject to the
terms and conditions set forth in this Agreement, Good Times shall purchase all
of the Assets from Seller.&nbsp; Good Times shall not assume any liabilities
associated with the Restaurant other than the existing vendor contracts.</p>



<p class=MsoNormal style='margin-left:-4.5pt;text-indent:40.5pt'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Consideration</u>.&nbsp; In consideration for the Assets, Good Times shall
pay the following (collectively, the &quot;Purchase Price&quot;):</p>

<p class=MsoNormal style='margin-left:1.0in'><u>&nbsp;</u></p>

<p class=MsoNormal style='margin-left:.5in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For
the Personal Property, (i) $395,000.00 payable to CEDA Restaurants ($50,000.00
of which is attributable to the fixtures, furniture and equipment and $345,000.00
of which is attributable to the building, leasehold improvements and other
Personal Property), a portion of which shall be a reduction of the promissory
notes made by CEDA Restaurants to Good Times in the aggregate amount of $65,250.00,
and (ii) the mutual agreed upon value of the food and paper inventory and cash
on hand existing at the Restaurant on February 29, 2008. </p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Contingencies</u>.&nbsp;
The closing of the purchase of the Assets by Good Times is contingent upon the
following (&quot;Contingencies&quot;) being satisfied in the sole discretion of Good
Times:</p>



<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

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<p class=MsoHeader>February 20, 2008</p>

<p class=MsoHeader>Page 2 of 7</p>







<p class=MsoNormal style='margin-left:.5in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmation
to the satisfaction of Good Times that (i) the Assets will be in good working
order and free and clear of all mortgages, liens and encumbrances at the
closing and (ii) the Sellers' representations and warranties set forth in
paragraph 5 below are true and correct on the Closing Date;</p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify'>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mutual
agreement between CEDA Restaurants and Good Times on the Closing Date as to the
amount of cash on hand and the value of the food and paper inventory which
shall be retained by Good Times, but reimbursed as part of the Purchase Price; </p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify'>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A
satisfactory inspection by Good Times of the condition of the Restaurant
premises and Assets on or before the Closing Date to verify that the Restaurant
premises and Assets are in substantially the same condition as of the date of
this Agreement, normal wear and tear accepted; and</p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify'>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmation
that from the date of this Agreement through the Closing Date, there has not
been any (i) transaction relating to the Restaurant and/or Assets except in the
ordinary course of business (and except this Agreement), (ii) material adverse
change in the financial condition, liabilities, value, business or prospects of
the Restaurant and/or Assets, (iii) reduction of or destruction, damage to, or
loss or misappropriation of any of the Assets (whether or not covered by
insurance) that materially and adversely affects the financial condition,
value, business or prospects of the Restaurant and/or Assets, (iv) mortgage,
pledge, lien or other encumbrance of any of the other Assets and (v) other
event or condition of any character or nature whatsoever that has or might
reasonably have a materially adverse effect on the financial condition,
business, liabilities, value or prospects of the Restaurant and/or Assets.</p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify'>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Closing
on the property located at 4670 Peoria Street, Denver, Colorado pursuant to the
Letter Agreement between Good Times, CEDA Restaurants and CEJ Investments, LLC
dated February 20, 2008 and release of all related liens in conjunction
therewith.</p>



<p class=MsoNormal style='margin-left:0in;text-indent:.5in'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Closing</u>.</p>

<p class=MsoNormal style='margin-left:1.0in'><u>&nbsp;</u></p>

<p class=MsoBodyTextIndent style='margin-left:.5in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
closing of the purchase of the Assets by Good Times shall be effective as of February
29, 2008 (&quot;Closing Date&quot;), provided that all Contingencies have been
satisfied.&nbsp; If any of the Contingencies have not been satisfied in the sole
discretion of Good Times by the closing, Good Times may terminate this
Agreement and the parties shall thereafter be released of all liability
hereunder.</p>



<p class=MsoBodyTextIndent style='margin-left:.5in;text-align:justify'>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, Sellers and/or Good Times, as applicable, shall execute and
deliver the following documents:</p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEDA
Restaurants shall execute and deliver to Good Times a Bill of Sale and
Assignment for the Personal Property, substantially in the form attached hereto
as <u>Exhibit B</u>.</p>



<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>






<p class=MsoHeader>February 20, 2008</p>

<p class=MsoHeader>Page 3 of 7</p>







<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sellers
shall execute and deliver a termination of the Assignment of Lease dated February
29, 2008 between Good Times and CEDA Restaurants with regard to the ground
lease; </p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Good
Times and CEDA Restaurants shall execute a Franchise Termination Agreement
terminating the Franchise Agreement dated August 31, 1998 between CEDA
Restaurants and Good Times. </p>



<p class=MsoBodyTextIndent style='margin-left:.5in;text-align:justify;
text-indent:.5in'>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All utilities, personal and real property taxes,
insurance and common area charges, if any, with respect to the Restaurant shall
be prorated as of the Closing Date.&nbsp; Seller shall remain liable for all
accounts payable accrued with respect to the Restaurant for the period prior to
and through the Closing Date.</p>



<p class=MsoBodyTextIndent style='margin-left:.5in;text-align:justify;
text-indent:.5in'>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At the closing, CEDA Restaurants shall continue the
employment of all of its employees who were employed at the Restaurant.&nbsp; Good
Times shall have the right, but not the obligation, to lease any of such
employees from CEDA Restaurants through September 30, 2008 or to hire any of
such employees.&nbsp; All payroll, payroll taxes, employee benefits and other costs
and expenses of any kind or nature whatsoever with regard to such employees of CEDA
Restaurants shall remain the liability of CEDA Restaurants and Good Times shall
have no responsibility for any such costs or employees.&nbsp; </p>



<p class=MsoBodyTextIndent style='margin-left:.5in;text-align:justify;
text-indent:.5in'>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At the closing, Good Times shall pay the Purchase
Price to the applicable Seller as set forth in paragraph 2.</p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify;text-indent:.5in'>f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, Seller shall use the Purchase Price to pay off the SBA note to
Vectra Bank dated _________ with a balance of approximately $311,700.00, to
reduce notes payable to Good Times of approximately $64,250 and to reduce any
accounts payable to Good Times and others related to the operation of the restaurant
prior to closing.&nbsp; </p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify;text-indent:.5in'>g.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, Seller shall deliver or cause to be delivered to Good Times all
keys to the Restaurant and originals or copies of any books, records, reports,
software and other electronic and written materials of any kind or nature
regarding the Restaurant and the operation thereof which Good Times requests in
writing and deems necessary for the purchase and future operation of the
Restaurant.&nbsp; Good Times shall have full possession and enjoyment of the
Restaurant and Assets from and after the Closing Date.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Representations and Warranties</u>.</p>



<p class=MsoBodyTextIndent style='margin-left:.5in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seller
represents, warrants and covenants the following to Good Times as of the date
hereof and as of the Closing Date: </p>



<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



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<p class=MsoHeader>February 20, 2008</p>

<p class=MsoHeader>Page 4 of 7</p>







<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Seller
has filed all federal, state and local tax returns required by law and has paid
all taxes (including sales and payroll taxes), assessments and penalties due
and payable by it with respect to the Restaurant and Assets.&nbsp; There are no
present disputes, nor is there any reason to believe a dispute may result, as
to taxes of any nature payable by Seller with respect to the Restaurant and/or
Assets;</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There
are no pending, or to the best knowledge of Seller, threatened, nor does there
exist any basis for, any suit, action, arbitration, or legal, administrative or
other proceeding, or governmental investigation or claims against or affecting
the Restaurant or any of the Assets; </p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All
liabilities of Seller with respect to the Assets (including, without
limitation, obligations to employees and federal, state and local governmental
authorities) will be paid at or before the Closing Date; and</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
execution and carrying out of this Agreement has been duly authorized by all of
the members of Seller and no other authorizations are required therefor.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Indemnification</u>.&nbsp;
For a period of three years after the Closing Date, Seller hereby indemnifies
and holds Good Times harmless from and against any and all liabilities,
obligations, claims, lawsuits, fines, penalties, taxes, losses, costs and
expenses, direct or indirect, of any kind or nature whatsoever arising from or
in connection with (i) any breach by Seller of a representation, warranty,
covenant or any other provision of this Agreement, (ii) the operation of the
Restaurant (including claims arising from employees of Seller) during the
period on and prior to the Closing Date and (iii) any and all taxes and
assessments imposed or levied upon the property (real or personal), sales,
income or business operations of the Restaurant or Assets during the period on
and prior to the Closing Date.&nbsp; On or before the Closing Date, Seller shall
provide Good Times with insurance certificates or copies of insurance policies
showing satisfactory (in Good Times' discretion) comprehensive general
liability insurance coverage in connection with the operations of the
Restaurant during the period on and prior to the Closing Date.&nbsp; Good Times
shall indemnify and hold Seller harmless from and against any and all
liabilities, obligations, claims, lawsuits, fines, penalties, taxes, losses,
costs and expenses, direct or indirect, of any kind or nature whatsoever
arising from or in connection with (i) any breach by Good Times of a
representation, warranty, covenant or any other provision of this Agreement,
and (ii) the operations of the Restaurant so long as such liabilities,
obligations, claims, lawsuits, etc. first accrue during the period after the
Closing Date.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Further
Assurances</u>.&nbsp; Seller, at any time before or after the closing, will execute,
acknowledge and deliver any further deeds, assignments, conveyances and other
assurances, documents and instruments of transfer requested by Good Times, and
will take any other action consistent with the terms of this Agreement that may
be requested by Good Times for the purpose of transferring the Assets and
business of the Restaurant (including any licenses) to Good Times. </p>



<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
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<p class=MsoHeader>February 20, 2008</p>

<p class=MsoHeader>Page 5 of 7</p>







<p class=MsoBodyTextIndent2 style='margin-left:0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Costs
and Expenses; Attorneys' Fees</u>.&nbsp; The parties shall equally split the attorneys
fees and each party shall pay its own costs and expenses incurred or to be
incurred by it in negotiating and carrying out the transactions contemplated by
this Agreement.&nbsp; In the event either party shall bring an action at law or
other proceeding against the other party or its successors or assigns to
enforce any of the terms, covenants or conditions of this Agreement, the
prevailing party in such action or proceeding shall be paid all reasonable
attorneys' fees incurred by it, as determined by the court and not a jury, and
in the event any judgment is secured by such prevailing party, all such
attorneys' fees shall be included in such judgment.&nbsp; </p>



<p class=MsoBodyTextIndent2 style='margin-left:0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Entire
Agreement</u>.&nbsp; This Agreement constitutes the entire agreement between the
parties pertaining to the subject matter contained herein and supercedes all
prior and contemporaneous agreements, representations and understandings of the
parties.&nbsp; No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by both parties.&nbsp; No waiver shall be binding
unless executed in writing by the party making the waiver.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Successors
and Assigns; Governing Law</u>.&nbsp; This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and
assigns and shall be governed by and interpreted in accordance with the laws of
the State of Colorado.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Survival</u>.&nbsp;
The representations, warranties, covenants and indemnities of Sellers set forth
herein shall survive the closing and the covenants shall be and remain
continuing covenants enforceable in accordance with their terms.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If this letter
correctly sets forth our agreement, kindly sign and return the attached copy
hereof.&nbsp; This letter may be signed in counterparts and delivered by facsimile
transmission.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Very
truly yours,</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES DRIVE THRU INC.,</p>

<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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
  Colorado corporation</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:
/s/ <u>Boyd E. Hoback</u></p>

<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Boyd
E. Hoback, President</p>



<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
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<p class=MsoHeader>February 20, 2008</p>

<p class=MsoHeader>Page 6 of 7</p>









<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=265 valign=top style='width:198.9pt;padding:0in 5.4pt 0in 5.4pt'>

  </td>
  <td width=373 valign=top style='width:279.9pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoBodyTextIndent2 style='margin-left:0in'>Agreed to and accepted,
  with the intent to be legally bound hereby, effective as of February 29, 2008</p>

  <p class=MsoBodyTextIndent2 style='margin-left:0in'>CEDA ENTERPRISES, INC.</p>
  <p class=MsoBodyTextIndent2 style='margin-left:0in'>a Colorado corporation</p>



  <p class=MsoBodyTextIndent2 style='margin-left:0in'>By: /s/ <u>Cornelius
  Jones</u></p>
  <p class=MsoBodyTextIndent2 style='margin-left:0in'>Name: Cornelius Jones</p>
  <p class=MsoBodyTextIndent2 style='margin-left:0in'>Its: President</p>
  </td>
 </tr>
</table>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>EXHIBIT A</u></b></p>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>&nbsp;</u></b></p>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>PARTIAL LIST OF PERSONAL PROPERTY</u></b></p>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>&nbsp;</u></b></p>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'>See attached</p>

<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>





<b><u><br
clear=all style='page-break-before:always'>
</u></b>











<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>EXHIBIT B</u></b></p>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>&nbsp;</u></b></p>

<p class=MsoBodyTextIndent2 align=center style='margin-left:0in;text-align:
center'><b><u>BILL OF SALE AND ASSIGNMENT</u></b></p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Bill of
Sale and Assignment (&quot;Bill of Sale&quot;) is made effective as of February 29, 2008 by
CEDA Enterprises, Inc., a Colorado corporation (&quot;Assignor&quot;), for the benefit of
Good Times Drive Thru Inc., a Colorado corporation (&quot;Assignee&quot;).</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WHEREAS,
Assignor and Assignee entered into a letter agreement dated February 20, 2008 (the
&quot;Letter Agreement&quot;) pursuant to which Assignor agreed to sell and Assignee
agreed to purchase all of the assets of the existing Good Times restaurant
located at 8930 E. Hampden Avenue, Denver, Colorado&nbsp; 80231 (the &quot;Restaurant&quot;);
and</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WHEREAS,
Assignor is executing this Bill of Sale in order to accomplish and document the
transfer of the Restaurant to Assignee pursuant to the letter Agreement.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOW, THEREFORE,
for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, Assignor does hereby sell, assign, transfer, convey, grant
and deliver unto Assignee and its successors and assigns forever all of
Assignor's right, title and interest in and to the Restaurant, including,
without limitation, the building, improvements, furniture, fixtures, equipment,
inventory, signage, smallwares, goodwill, cash, business records and supplies,
business licenses (to the extent permitted by law), and other personal property
and assets of any kind or nature whatsoever located therein, attached thereto
or used in connection therewith and all accounts, accounts receivable, leases
and other contract rights, insurance proceeds and other general intangibles in
connection therewith or in any way related to the business operated at the
Restaurant, but excluding all liabilities accrued or incurred on or before the
date hereof.</p>



<p class=MsoBodyTextIndent2 style='margin-left:0in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assignor
acknowledges and agrees that after the effective date hereof, it has no
interest whatsoever in the Restaurant and Assignor covenants and agrees to and
with Assignee, its successors and assigns, to warrant and forever defend the
transfer of the Restaurant to Assignee against each and every person or persons
whomever.</p>



<p class=MsoBodyTextIndent2 style='margin-left:3.0in'><b>ASSIGNOR:</b></p>



<p class=MsoBodyTextIndent2 style='margin-left:3.0in'>CEDA ENTERPRISES, INC.</p>

<p class=MsoBodyTextIndent2 style='margin-left:3.0in'>a Colorado corporation</p>







<p class=MsoBodyTextIndent2 style='margin-left:3.0in'>By: /s/ <u>Cornelius
Jones</u></p>

<p class=MsoBodyTextIndent2 style='margin-left:3.0in'>Its: President</p>







<p class=MsoFooter style='line-height:10.0pt'>136120.3 </p>

<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>







</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-2
<SEQUENCE>3
<FILENAME>letteragreepeoriajones1.htm
<TEXT>
<html>

<head>
<!-- Document Prepared With E-Services, LLC HTML Software-->
<!-- Copyright 2006 E-Services, LLC.-->
<!-- All rights reserved EDGAR2.com -->



<title>Sumaya Vanderhorst</title>



</head>

<body lang=EN-US>



















<p class=MsoNormal align=center style='text-align:center'>Effective as of
February 29, 2008</p>





<p class=MsoNormal>February 20, 2008</p>

<p class=MsoNormal>Neil Jones, President and Managing Member</p>

<p class=MsoNormal>CEDA Enterprises, Inc. and CEJ Investments, LLC</p>

<p class=MsoNormal>19322 E. Chaffee Avenue</p>

<p class=MsoNormal>Denver, CO&nbsp; 80249</p>





<p class=MsoNormal>Dear Neil:&nbsp; </p>



<p class=MsoNormal style='text-align:justify;text-indent:.5in'>This letter
agreement (&quot;Agreement&quot;) will set forth the terms and conditions for the
purchase by Good Times Drive Thru Inc., a Colorado corporation (&quot;Good Times&quot;),
of all of the real property and personal property which comprise the existing
Good Times restaurant located at 4670 Peoria Street, Denver, Colorado (the
&quot;Restaurant&quot;), from CEDA Enterprises, Inc., a Colorado corporation (&quot;CEDA&quot;),
and CEJ Investments, LLC, a Colorado limited liability company (&quot;CEJ&quot;).&nbsp; CEDA
and CEJ are hereinafter referred to collectively as &quot;Sellers&quot;.&nbsp; </p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Purchased
Assets; Assumed Liabilities</u>.&nbsp; The property and assets of the Restaurant
consist of (a) the real property described on <u>Exhibit A</u> attached hereto
which is currently owned by CEJ (the &quot;Land&quot;) and (b) the restaurant
building, all other improvements currently existing on such real property and
all furniture, fixtures, smallwares, signage, equipment, goodwill, personal
property and all other assets, tangible and intangible property and business of
every kind, character and nature whatsoever with respect to the Restaurant, including,
without limitation, the items set forth on <u>Exhibit A</u> attached hereto
(collectively, the &quot;Personal Property&quot;) which is owned by CEDA.&nbsp; All of the
foregoing Land and Personal Property are hereinafter referred to collectively
as the &quot;Assets.&quot;&nbsp; Upon and subject to the terms and conditions set forth in
this Agreement, Good Times shall purchase all of the Assets from Sellers.&nbsp; Good
Times shall not assume any liabilities associated with the Restaurant.</p>



<p class=MsoNormal style='margin-left:-4.5pt;text-indent:40.5pt'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Consideration</u>.&nbsp; In consideration for the Assets, Good Times shall
pay the following (collectively, the &quot;Purchase Price&quot;):</p>

<p class=MsoNormal style='margin-left:-4.5pt'><u>&nbsp;</u></p>

<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For
the Land, $500,000.00 payable to CEJ Investments, LLC.</p>

<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For
the Personal Property, $435,000.000 payable to CEDA Enterprises, Inc.
($70,000.00 of which is attributable to the fixtures, furniture and equipment and
other Personal Property and $365,000.00 of which is attributable to the
building and leasehold improvements)</p>



<p class=MsoNormal style='text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Contingencies</u>.&nbsp;
The closing of the purchase of the Assets by Good Times is contingent upon the
following (&quot;Contingencies&quot;) being satisfied in the sole discretion of Good
Times:</p>





<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>










<p class=MsoBodyTextIndent style='margin-left:1.0in'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmation to
the satisfaction of Good Times that its proposed sale and leaseback of the Real
Property (the &quot;Sale/Leaseback&quot;) will occur immediately following and in
conjunction with the closing under this Agreement;</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmation
to the satisfaction of Good Times that (i) the Assets will be in good working
order and free and clear of all mortgages, liens and encumbrances at the
closing except the permitted exceptions approved by Good Times and (ii) the
Sellers' representations and warranties set forth in paragraph 5 below are true
and correct on the Closing Date;</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A
satisfactory inspection by Good Times of the condition of the Restaurant
premises and Assets on or before the Closing Date to verify that the Restaurant
premises and Assets are in substantially the same condition as of the date of
this Agreement, normal wear and tear accepted; and</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Confirmation
that from the date of this Agreement through the Closing Date, there has not
been any (i) transaction relating to the Restaurant and/or Assets except in the
ordinary course of business (and except this Agreement), (ii) material adverse
change in the financial condition, liabilities, value, business or prospects of
the Restaurant and/or Assets, (iii) reduction of or destruction, damage to, or
loss or misappropriation of any of the Assets (whether or not covered by
insurance) that materially and adversely affects the financial condition,
value, business or prospects of the Restaurant and/or Assets, (iv) mortgage,
pledge, lien or other encumbrance of the Real Property or any of the other
Assets and (v) other event or condition of any character or nature whatsoever
that has or might reasonably have a materially adverse effect on the financial
condition, business, liabilities, value or prospects of the Restaurant and/or
Assets.</p>



<p class=MsoNormal style='margin-left:1.0in;text-indent:-.5in'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Closing</u>.</p>

<p class=MsoNormal style='margin-left:1.0in'><u>&nbsp;</u></p>

<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
closing of the purchase of the Assets by Good Times shall take place on February
29, 2008 (&quot;Closing Date&quot;), provided that all Contingencies have been
satisfied.&nbsp; If any of the Contingencies have not been satisfied in the sole
discretion of Good Times by the Closing Date, Good Times may terminate this
Agreement and the parties shall thereafter be released of all liability
hereunder.</p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, Sellers and/or Good Times, as applicable, shall execute and
deliver the following documents:</p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify;
text-indent:.5in'>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEJ shall execute a statutory warranty deed
conveying the Land to Good Times in the form attached hereto as <u>Exhibit B</u>;
</p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify;
text-indent:.5in'>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEDA shall execute and deliver to Good Times a
Bill of Sale and Assignment for the Building, substantially in the form
attached hereto as <u>Exhibit C</u>.</p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>



<br
clear=all style='page-break-before:always'>










<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Good
Times and CEDA Restaurants shall execute a Franchise Termination Agreement
terminating the Franchise Agreement dated March 10, 2008 between CEDA
Restaurants and Good Times. </p>



<p class=MsoBodyTextIndent style='text-align:justify;text-indent:.5in'>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All
utilities, personal and real property taxes, insurance and common area charges,
if any, with respect to the Restaurant shall be prorated as of the Closing
Date.&nbsp; Seller shall remain liable for all accounts payable accrued with respect
to the Restaurant for the period prior to and through the Closing Date.</p>



<p class=MsoBodyTextIndent style='text-align:justify;text-indent:.5in'>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, CEDA Restaurants shall continue the employment of all of its
employees who were employed at the Restaurant.&nbsp; Good Times shall have the
right, but not the obligation, to lease any of such employees from CEDA
Restaurants through September 30, 2008 or to hire any of such employees.&nbsp; All
payroll, payroll taxes, employee benefits and other costs and expenses of any
kind or nature whatsoever with regard to such employees of CEDA Restaurants
shall remain the liability of CEDA Restaurants and Good Times shall have no
responsibility for any such costs or employees.&nbsp; </p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, Good Times shall pay the Purchase Price to the applicable Seller
as set forth in paragraph 2.</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, CEDA shall allocate the Purchase Price as follows:&nbsp; </p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEDA
will pay off the SBA note dated February 27, 2001 to Guaranty Bank with a
balance of approximately $481,000.00.&nbsp; </p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEDA
will pay off the notes to the City &amp; County of Denver dated October 31,
2000 with a balance of approximately $262,700.00, including any accrued
interest.&nbsp; </p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CEDA
will reduce notes payable to Good Times of approximately $185,800.00, including
any accrued interest.&nbsp; </p>



<p class=MsoNormal style='margin-left:.5in;text-align:justify;text-indent:.5in'>g.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At
the closing, Seller shall deliver or cause to be delivered to Good Times all
keys to the Restaurant and originals or copies of any books, records, reports,
software and other electronic and written materials of any kind or nature regarding
the Restaurant and the operation thereof which Good Times requests in writing
and deems necessary for the purchase and future operation of the Restaurant.&nbsp;
Good Times shall have full possession and enjoyment of the Restaurant and
Assets from and after the Closing Date.</p>



<p class=MsoBodyTextIndent style='text-align:justify'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Representations
and Warranties</u>.</p>



<p class=MsoBodyTextIndent style='margin-left:1.0in;text-align:justify'>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sellers
represent, warrant and covenant the following to Good Times as of the date
hereof and as of the Closing Date: </p>





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<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
..5in'>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each Seller has filed all federal, state and local tax
returns required by law and has paid all taxes (including sales and payroll
taxes), assessments and penalties due and payable by it with respect to the
Restaurant and Assets.&nbsp; There are no present disputes, nor is there any reason
to believe a dispute may result, as to taxes of any nature payable by either
Seller with respect to the Restaurant and/or Assets;</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
..5in'>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are no pending, or to the best knowledge of Sellers,
threatened, nor does there exist any basis for, any suit, action, arbitration,
or legal, administrative or other proceeding, or governmental investigation or
claims against or affecting the Restaurant or any of the Assets; </p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
..5in'>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All liabilities of Sellers with respect to the Assets
(including, without limitation, obligations to employees and federal, state and
local governmental authorities) will be paid at or before the Closing Date; </p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
..5in'>(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The execution and carrying out of this Agreement has been duly
authorized by all of the board of directors and members of each Seller and no
other authorizations are required therefor;</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
..5in'>(vii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are no pending, or to the best of knowledge of Sellers,
any conditions affecting the Land, Restaurant or any Assets with regards to the
presence of any hazardous substances or any violations of any environmental
laws; and</p>



<p class=MsoNormal style='margin-left:1.0in;text-align:justify;text-indent:
..5in'>(viii)&nbsp;&nbsp;&nbsp;&nbsp; The Assets are in compliance with all applicable laws.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Indemnification</u>.&nbsp; For a period
of three years after the Closing Date, Sellers jointly and severally hereby
indemnify and hold Good Times harmless from and against any and all
liabilities, obligations, claims, lawsuits, fines, penalties, taxes, losses,
costs and expenses, direct or indirect, of any kind or nature whatsoever
arising from or in connection with (i) any breach by either Seller of a
representation, warranty, covenant or any other provision of this Agreement,
(ii) the operation of the Restaurant (including claims arising from employees
of either Seller) during the period on and prior to the Closing Date and (iii)
any and all taxes and assessments imposed or levied upon the property (real or
personal), sales, income or business operations of the Restaurant or Assets
during the period on and prior to the Closing Date.&nbsp; On or before the Closing
Date, Sellers shall provide Good Times with insurance certificates or copies of
insurance policies showing satisfactory (in Good Times' discretion)
comprehensive general liability insurance coverage in connection with the
operations of the Restaurant during the period on and prior to the Closing
Date.&nbsp; Good Times shall indemnify and hold Sellers harmless from and against
any and all liabilities, obligations, claims, lawsuits, fines, penalties,
taxes, losses, costs and expenses, direct or indirect, of any kind or nature
whatsoever arising from or in connection with (i) any breach by Good Times of a
representation, warranty, covenant or any other provision of this Agreement,
and (ii) the operations of the Restaurant so long as such liabilities,
obligations, claims, lawsuits, etc. first accrue during the period after the
Closing Date.</p>





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<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Further Assurances</u>.&nbsp; Sellers,
at any time before or after the closing, will execute, acknowledge and deliver
any further deeds, assignments, conveyances and other assurances, documents and
instruments of transfer requested by Good Times, and will take any other action
consistent with the terms of this Agreement that may be requested by Good Times
for the purpose of transferring the Assets and business of the Restaurant
(including any licenses) to Good Times. </p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Costs and Expenses; Attorneys'
Fees</u>.&nbsp; The parties shall equally split the closing fees charged by the
Title Company and each party shall pay its own costs and expenses incurred or
to be incurred by it in negotiating and carrying out the transactions
contemplated by this Agreement.&nbsp; Good Times shall pay the cost of any title
insurance regarding the Real Property, but CEDA shall pay any costs incurred to
clear liens, encumbrances and title defects.&nbsp; In the event either party shall
bring an action at law or other proceeding against the other party or its
successors or assigns to enforce any of the terms, covenants or conditions of
this Agreement, the prevailing party in such action or proceeding shall be paid
all reasonable attorneys' fees incurred by it, as determined by the court and
not a jury, and in the event any judgment is secured by such prevailing party,
all such attorneys' fees shall be included in such judgment.&nbsp; </p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Entire Agreement</u>.&nbsp; This
Agreement constitutes the entire agreement between the parties pertaining to
the subject matter contained herein and supersedes all prior and
contemporaneous agreements, representations and understandings of the parties.&nbsp;
No supplement, modification or amendment of this Agreement shall be binding
unless executed in writing by both parties.&nbsp; No waiver shall be binding unless
executed in writing by the party making the waiver.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Successors and Assigns; Governing
Law</u>.&nbsp; This Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns and shall be
governed by and interpreted in accordance with the laws of the State of Colorado.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Survival</u>.&nbsp; The representations,
warranties, covenants and indemnities of Sellers set forth herein shall survive
the closing and the covenants shall be and remain continuing covenants
enforceable in accordance with their terms.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If this letter correctly sets forth our
agreement, kindly sign and return the attached copy hereof.&nbsp; This letter may be
signed in counterparts and delivered by facsimile transmission.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Very
truly yours,</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GOOD
TIMES DRIVE THRU INC.,</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a
  Colorado corporation</p>







<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:
/s/ <u>Boyd E. Hoback</u></p>

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



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<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Agreed to and accepted, with the intent to be legally bound
  hereby, this 29 day of February, 2008</p>

  <p class=MsoNormal>CEDA ENTERPRISES, INC.</p>
  <p class=MsoNormal>a Colorado corporation</p>



  <p class=MsoNormal>By: <u>/s/Cornelius Jones </u></p>
  <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Cornelius Jones<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Its:&nbsp; President</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt'>
  <p class=MsoNormal>Agreed to and accepted, with the intent to be legally bound
  hereby, this 29 day of February, 2008</p>

  <p class=MsoNormal>CEJ INVESTMENTS, LLC</p>
  <p class=MsoNormal>a Colorado limited liability company</p>



  <p class=MsoNormal>By: <u>/s/ Cornelius Jones</u></p>
  <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:&nbsp; Cornelius Jones</p>
  <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Its:&nbsp; Managing Member</p>
  </td>
 </tr>
</table>





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<p class=MsoNormal align=center style='text-align:center'><b><u>EXHIBIT A</u></b></p>



<p class=MsoNormal align=center style='text-align:center'><b><u>LEGAL
DESCRIPTION OF REAL PROPERTY</u></b></p>



<p class=MsoNormal>A TRACT OF LAND LOCATED IN BLOCK 1, MONTBELLO NO. 8, BEING A
PART OF THE NORTHWEST QUARTER OF SECTION 24, TOWNSHIP 3 SOUTH, RANGE 67 WEST OF
THE SIXTH PRINCIPAL MERIDIAN, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:</p>



<p class=MsoNormal>COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 24;</p>

<p class=MsoNormal>THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS EAST ALONG THE
WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 24, A DISTANCE OF 550.0
FEET; THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS EAST, A DISTANCE OF 60.00
FEET TO THE NORTHWEST CORNER OF SAID BLOCK 1, MONTBELLO NO. 8, SAID POINT BEING   ON THE EAST RIGHT-OF-WAY LINE OF PEORIA STREET AND THE SOUTHERLY RIGHT-OF-WAY
LINE OF ALBROOK DRIVE;</p>

<p class=MsoNormal>THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS WEST ALONG
SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 186.18 FEET TO THE POINT OF
BEGINNING;</p>

<p class=MsoNormal>THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS EAST, A
DISTANCE OF 264.75 FEET;</p>

<p class=MsoNormal>THENCE SOUTH 22 DEGREES 00 MINUTES 00 SECONDS WEST, A
DISTANCE OF 172.85 FEET;</p>

<p class=MsoNormal>THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS WEST, A
DISTANCE OF 200.00 FEET</p>

<p class=MsoNormal>TO A POINT ON SAID EAST RIGHT-OF-WAY LINE OF PEORIA STREET;</p>

<p class=MsoNormal>THENCE NORTH 00 DEGREES 00 MINUTES 00 SECONDS EAST ALONG
SAID EAST LINE, A DISTANCE OF 160.31 FEET TO THE POINT OF BEGINNING</p>



<p class=MsoNormal>CITY AND COUNTY OF DENVER,</p>

<p class=MsoNormal>STATE OF COLORADO.</p>



<p class=MsoNormal>PLUS BUILDING AND IMPROVEMENTS THEREON</p>



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<p class=MsoNormal align=center style='text-align:center'><b><u>EXHIBIT B</u></b></p>

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

<p class=MsoNormal align=center style='text-align:center'><b><u>SPECIAL
WARRANTY DEED</u></b></p>

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

<p class=MsoNormal><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THIS DEED</b> made this 29 day of February,
2008, between CEJ Investments, LLC, a Colorado limited liability company,
&quot;Grantor&quot;, for the consideration of Eight Hundred Twenty-Five Thousand
and 00/100 Dollars ($865,000.00) and other good and valuable consideration, in
hand paid, hereby sells and conveys to Good Times Drive Thru Inc., a Colorado
corporation, &quot;Grantee&quot;, whose legal address is 601 Corporate Circle,
Golden, Colorado 80401, all the following described real property, together
with the building and all other improvements thereon in the County of El Paso,&nbsp;
State of Colorado, to-wit: </p>



<p class=MsoNormal>A TRACT OF LAND LOCATED IN BLOCK 1, MONTBELLO NO. 8, BEING A
PART OF THE NORTHWEST QUARTER OF SECTION 24, TOWNSHIP 3 SOUTH, RANGE 67 WEST OF
THE SIXTH PRINCIPAL MERIDIAN, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:</p>



<p class=MsoNormal>COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 24;</p>

<p class=MsoNormal>THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS EAST ALONG THE
WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 24, A DISTANCE OF 550.0
FEET; THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS EAST, A DISTANCE OF 60.00
FEET TO THE NORTHWEST CORNER OF SAID BLOCK 1, MONTBELLO NO. 8, SAID POINT BEING   ON THE EAST RIGHT-OF-WAY LINE OF PEORIA STREET AND THE SOUTHERLY RIGHT-OF-WAY
LINE OF ALBROOK DRIVE;</p>

<p class=MsoNormal>THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS WEST ALONG
SAID EAST RIGHT-OF-WAY LINE, A DISTANCE OF 186.18 FEET TO THE POINT OF
BEGINNING;</p>

<p class=MsoNormal>THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS EAST, A
DISTANCE OF 264.75 FEET;</p>

<p class=MsoNormal>THENCE SOUTH 22 DEGREES 00 MINUTES 00 SECONDS WEST, A
DISTANCE OF 172.85 FEET;</p>

<p class=MsoNormal>THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS WEST, A
DISTANCE OF 200.00 FEET</p>

<p class=MsoNormal>TO A POINT ON SAID EAST RIGHT-OF-WAY LINE OF PEORIA STREET;</p>

<p class=MsoNormal>THENCE NORTH 00 DEGREES 00 MINUTES 00 SECONDS EAST ALONG
SAID EAST LINE, A DISTANCE OF 160.31 FEET TO THE POINT OF BEGINNING</p>



<p class=MsoNormal>CITY AND COUNTY OF DENVER,</p>

<p class=MsoNormal>STATE OF COLORADO.</p>



<p class=MsoNormal>PLUS BUILDING AND IMPROVEMENTS THEREON</p>



<p class=MsoNormal>Known by street and number as 4670 Peoria Street, Denver, Colorado</p>





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<p class=MsoNormal>with all appurtenances and warrants title to the same
against all persons claiming under Grantor, except for general taxes and
special assessments for the year 2007 and subsequent years and those
exceptions, if any, listed on Exhibit &quot;A&quot; attached hereto and
incorporated herein by this reference.</p>



<p class=MsoNormal style='margin-left:3.0in;text-indent:.5in'>CEJ Investments,
LLC</p>

<p class=MsoNormal style='margin-left:3.0in;text-indent:.5in'>a Colorado limited liability company</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:
/s/<u> Cornelius Jones</u>, Managing Member</p>



<p class=MsoNormal>STATE OF COLORADO&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; )</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; )ss.</p>

<p class=MsoNormal>COUNTY OF <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jefferson</u>)</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The foregoing instrument was acknowledged before
me this 29 day of February, 2008, by Cornelius Jones as Managing Member of CEJ
Investments, LLC, a Colorado limited liability company.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Witness my hand and seal.</p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/<u>Christi
Pennington</u></p>

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

<p class=MsoNormal>My commission expires: 10-2-10</p>



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<p class=MsoNormal align=center style='text-align:center'><b><u>EXHIBIT &quot;A&quot;</u></b></p>

<p class=MsoNormal align=center style='text-align:center'><b>(List of Permitted
Exceptions)</b></p>



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



<div class=MsoNormal align=center style='text-align:center'>

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<p class=MsoNormal align=center style='text-align:center'><b><u>EXHIBIT C</u></b></p>

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

<p class=MsoNormal align=center style='text-align:center'><b><u>BILL OF SALE
AND ASSIGNMENT</u></b></p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Bill of Sale and Assignment (&quot;Bill of
Sale&quot;) is made effective as of February 29, 2008, by CEDA Enterprises, Inc., a Colorado corporation (&quot;Assignor&quot;), for the benefit of Good Times Drive Thru Inc., a Colorado corporation (&quot;Assignee&quot;).</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WHEREAS, Assignor and Assignee entered into a
letter agreement dated February 29, 2008 (the &quot;Letter Agreement&quot;) pursuant to
which Assignor agreed to sell and Assignee agreed to purchase the building of
the existing Good Times restaurant located at 4670 Peoria Street, Denver,
Colorado (the &quot;Restaurant&quot;); and</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; WHEREAS, Assignor is executing this Bill of Sale
in order to accomplish and document the transfer of the Restaurant to Assignee
pursuant to the letter Agreement.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged,
Assignor does hereby sell, assign, transfer, convey, grant and deliver unto
Assignee and its successors and assigns forever all of Assignor's right, title
and interest in and to the Restaurant, including, without limitation, the
building, improvements, and other contract rights, insurance proceeds and other
general intangibles in connection therewith or in any way related to the
Restaurant, but excluding all liabilities accrued or incurred on or before the
date hereof.</p>



<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assignor acknowledges and agrees that after the
effective date hereof, it has no interest whatsoever in the Restaurant and
Assignor covenants and agrees to and with Assignee, its successors and assigns,
to warrant and forever defend the transfer of the Restaurant to Assignee
against each and every person or persons whomever.</p>



<p class=MsoNormal style='margin-left:2.5in;text-indent:.5in'><b>ASSIGNOR:</b></p>



<p class=MsoNormal style='margin-left:2.5in;text-indent:.5in'>CEDA Enterprises,
Inc.,</p>

<p class=MsoNormal style='margin-left:2.5in;text-indent:.5in'>a Colorado corporation</p>





<p class=MsoNormal style='margin-left:2.5in;text-indent:.5in'>By:&nbsp; <u>/s/
Cornelius Jones</u></p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Name:
<u>Cornelius Jones</u></p>

<p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Its:&nbsp;
<u>President</u></p>



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

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

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

<p class=MsoNormal style='text-align:justify'><b><u>FOR IMMEDIATE RELEASE</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs
p;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; News</b></p>

<p class=MsoNormal style='text-align:justify'><b>March 12, 2008&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Nasdaq
SmallCap - GTIM</b></p>



<p class=MsoNormal align=center style='text-align:center'><b>Good Times Announces
Acquisition of Two Good Times Franchised Restaurants</b></p>

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

<p class=MsoNormal style='text-align:justify'>(GOLDEN, CO) Good Times
Restaurants Inc. (GTIM) today announced that through its wholly owned
subsidiary, Good Times Drive Thru Inc., it had acquired two franchised
restaurants in Denver from CEDA Enterprises, Inc. for a total of $1.35
million.&nbsp;&nbsp; The underlying land on one of the restaurants was included in the
purchase and with the building, was simultaneously sold in a sale leaseback
transaction.&nbsp;&nbsp; The purchase was funded through a combination of cash,
elimination of notes receivable from the franchisee and net proceeds of
approximately $863,000 from the sale leaseback transaction.&nbsp; </p>



<p class=MsoNormal style='text-align:justify'>Commenting on the transaction, Boyd
Hoback, President and CEO said &quot;This was an opportunity to acquire two
restaurants that, when combined with the low cap rate available in the sale
leaseback transaction, will provide an attractive return on capital for us with
a limited cash outlay. &nbsp;We will continue to evaluate the re-franchising or
acquisition of restaurants on an opportunistic basis considering many factors
including return on capital, operational efficiencies and other capital
commitments.&quot; </p>



<p class=MsoNormal style='text-align:justify'>Good Times Burgers &amp; Frozen
Custard has 52 restaurants, mostly in Colorado serving high quality, 100% all
natural Coleman beef burgers, chicken sandwiches, and fresh frozen custard.</p>



<p class=MsoNormal style='text-align:justify'>This
press release contains forward looking statements within the meaning of federal
securities laws.&nbsp; The word &quot;intend&quot; and similar expressions are intended to
identify forward looking statements.&nbsp; 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.&nbsp; These
risks include such factors as the uncertain nature of current restaurant
development plans and the ability to implement those plans<b>,</b> 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 &quot;Risk Factors&quot; section of Good
Times' Annual Report on Form 10-KSB for the fiscal year ended September 30, 2006
filed with the SEC.&nbsp; 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.</p>



<p class=MsoNormal style='text-align:justify'><b>INVESTOR RELATIONS CONTACTS:</b></p>

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

<p class=MsoNormal style='text-align:justify'>Boyd E. Hoback, President and CEO,
303/384-1411</p>

<p class=MsoFooter>Christi Pennington, Executive Assistant, 303/384-1440</p>

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