XML 34 R21.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Business Combinations (Tables) | 12 Months Ended
--- | ---
Sep. 27, 2016
Business Combinations [Abstract] |
Schedule of Fair Value Estimate of Assets Acquired and Liabilities Assumed | The estimated fair values of the assets acquired and liabilities assumed for the acquisition approximated the following:
|  | Allocated Fair Value |
Cash |  | $ | 1,376 |
Receivables |  |  | 124 |
Prepaid expenses and other |  |  | 49 |
Inventories |  |  | 133 |
Deposits |  |  | 52 |
Property and equipment |  |  | 3,672 |
Trademarks (1) |  |  | 3,900 |
Franchise agreements (1) |  |  | 116 |
Non-compete agreements (1) |  |  | 15 |
Goodwill (2) |  |  | 14,970 |
Total assets purchased |  |  | 24,407 |
Accounts payable and other accrued liabilities |  |  | (750 | )
Unfavorable lease liability |  |  | (481 | )
Non-controlling interests |  |  | (1,276 | )
Total liabilities assumed |  |  | (2,507 | )
Investment in BDFD balance |  |  | (498 | )
Total purchase price |  | $ | 21,402 |
Cash |  | $ | 18,988 |
Notes payable |  |  | 2,414 |
Total purchase price |  | $ | 21,402 |
(1) | The value of the identifiable intangible assets were determined by an independent Corporate Finance and Business Valuation firm.
(2) | The excess of the purchase price over the aggregate fair value of net assets acquired was allocated to goodwill. The portion of the purchase price attributable to goodwill represents benefits expected as a result of the acquisition, including sales and unit growth opportunities.
Schedule of Intangible Assets Acquired | Estimates of acquired goodwill and identifiable intangible assets related to the acquisition are as follows:
|  | Estimated Fair Value |  |  | Weighted Average Estimated Useful Life (yrs) |
Trademarks and trade names |  | $ | 3,900 |  |  | Indefinite |
Franchise Agreements |  |  | 116 |  |  |  | 3 – 9 |
Non-Compete Agreements |  |  | 15 |  |  |  | 3 |
Goodwill, including assembled workforce |  |  | 14,970 |  |  | Indefinite |
Pro-Forma Revenue and Net Income | The table below presents the proforma revenue and net income for the fiscal year ended September 30, 2015, assuming the acquisition had occurred on October 1, 2014. This proforma information does not purport to represent what the actual results of operations of the Company would have been had the acquisition occurred on this date nor does it purport to predict the results of operations for future periods.
|  | Fiscal Year Ended September 30 |
|  | 2015 |
Revenues |  | $ | 54,416 |
Net income |  | $ | 619 |
Net income (loss) attributable to Good Times Restaurants, Inc. |  | $ | 159 |
Net income (loss) attributable to common shareholders |  | $ | 159 |
Basic and diluted income (loss) per share |  | $ | .01 |

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=65885119&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
Name: | us-gaap_FiniteLivedAndIndefiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=73530397&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration