恋上餐厅 2024年度报告

FORM 10-K(Mark One) ☑ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 000-18590 Good Times Restaurants Inc.(Exact name of registrant as specified in its charter) Securities registered pursuant to Section 12(g) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐No☑ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☑ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days. Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit suchfiles). Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness ofits internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C.7262(b) by the registered publicaccounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☑ As of December 22, 2025, the registrant had 10,557,896 shares of common stock outstanding. Documents Incorporated by Reference Certain information required by Part III of this Annual Report on Form 10-K is incorporated by reference herein from the registrant’sdefinitive proxy statement relating to our 2026 Annual Meeting of Shareholders to be filed with the Securities and Exchange Commissionwithin 120 days after the end of the registrant's fiscal year ended September 30, 2025. TABLE OF CONTENTS PAGE Item 1Business3Item 1ARisk Factors13Item 1BUnresolved Staff Comments21Item 1CCybersecurity21Item 2Properties22Item 3Legal Proceedings22Item 4Mine Safety Disclosures23 PART IIItem 5Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of EquitySecurities24Item 6[Reserved]24Item 7Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 7AQuantitative and Qualitative Disclosures About Market Risk33Item 8Financial Statements and Supplementary Data33Item 9Changes in and Disagreements with Accountants on Accounting and Financial Disclosure33Item 9AControls and Procedures33Item 9BOther Information33Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections33 PART III Item 10Directors, Executive Officers and Corporate Governance34Item 11Executive Compensation34Item 12Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters34Item 13Certain Relationships, Related Transactions, and Director Independence34Item 14Principal Accountant Fees and Services34 PART IVItem 15Exhibits, Financial Statement Schedules34Item 16Form 10-K Summary36 PART I ITEM 1.BUSINESS Our Company Good Times Restaurants Inc., a Nevada corporation formed on October 6, 1996, operates Bad Daddy’s Burger Bar restaurants (“BadDaddy’s”) and Good Times Burgers & Frozen Custard restaurants (“Good Times”). Bad Daddy’s and Good Times are two distinctlydifferent restaurant concepts. Each is positioned as a unique brand within its respective segment of the industry. Bad Daddy’s operates inthe full