UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D/A

Amendment No. 5

Under the Securities Exchange Act of 1934

 

Good Times Restaurants Inc.

(Name of Issuer)

 

Common Stock, par value $0.001 per share

(Title of Class of Securities)

 

382140879

(CUSIP Number)

 

    with a copy to:  
  Delta Partners, LP Gardere Wynne Sewell LLP  
  265 Franklin Street, Suite 903 2021 McKinney Ave., Suite 1600  
  Boston, MA 02110 Dallas, Texas 75201  
  Attn: Charles Jobson Attn: Evan Stone  
           
  Tel: (617) 526-8960 Tel: (214) 999-4906  
           

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

March 12, 2018

(Date of Event Which Requires Filing of this Statement)
 

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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box: ☐

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’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.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) 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).

 

 

 

 

 

 

CUSIP No. 382140879 
 
  1 Name of Reporting Person:
Delta Partners, LP
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)
    (b)
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2)
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

0

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
0
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
0
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
  13 Percent of Class Represented by Amount in Row (11)
0%*
 
  14 Type of Reporting Person (See Instructions)
PN
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879 
 
  1 Name of Reporting Person:
Delta Partners GP, LLC
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)
    (b)  
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2)
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

0

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
0
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
0
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
  13 Percent of Class Represented by Amount in Row (11)
0%*
 
  14 Type of Reporting Person (See Instructions)
OO
           

*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879 
 
  1 Name of Reporting Person:
Prism Partners, L.P.
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  
    (b)  
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 WC
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2)
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

1,363,440 

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
1,363,440
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,363,440
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
 
  13 Percent of Class Represented by Amount in Row (11)
10.9%*
 
  14 Type of Reporting Person (See Instructions)
PN
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
Delta Growth Master Fund L.P.
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 WC
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Cayman Islands
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

6,200

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
6,200
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
6,200
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%*
 
  14 Type of Reporting Person (See Instructions)
OO
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
Delta Advisors, LLC
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

1,369,640*

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
1,369,640*
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,369,640*
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
11.0%**
 
  14 Type of Reporting Person (See Instructions)
OO
           
*Represents shares directly held by Prism Partners, L.P. and Delta Growth Master Fund L.P. Delta Advisors, LLC is the general partner of Prism Partners, L.P. and Delta Growth Master Fund L.P.

 

**Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
Jobson Family Foundation
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 OO
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Massachusetts
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

208,333

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
208,333
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
208,333
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
1.67%*
 
  14 Type of Reporting Person (See Instructions)
OO
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
Charles Jobson
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 United States
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 670,484
   
  8

Shared Voting Power

 

1,578,273

   
  9 Sole Dispositive Power
670,484
   
  10 Shared Dispositive Power
1,578,273
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
2,248,757*
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
18%**
 
  14 Type of Reporting Person (See Instructions)
IN
           
*Represents 1,363,440 shares held by Prism Partners, L.P., 6,200 shares held by Delta Growth Master Fund L.P., and 208,333 shares held by the Jobson Family Foundation. Delta Advisors, LLC is the general partner of Prism Partners, L.P. and Delta Growth Master Fund L.P. Delta Partners GP, LLC is the general partner of Delta Partners, LP. Charles Jobson is the managing member of Delta Advisors, LLC and Delta Partners GP, LLC. Charles Jobson is the trustee of the Jobson Family Foundation.

 

**Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
REIT Redux LP
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 OO
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 440,000
   
  8

Shared Voting Power

 

0

   
  9 Sole Dispositive Power
440,000
   
  10 Shared Dispositive Power
0
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
440,000
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
3.5%*
 
  14 Type of Reporting Person (See Instructions)
PN
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
REIT Redux GP, LLC
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
0
   
  8 Shared Voting Power
440,000
   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
440,000
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
440,000
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
3.5%*
 
  14 Type of Reporting Person (See Instructions)
OO
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
Robert J. Stetson
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF, PF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 United States of America
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7

Sole Voting Power

 

 

113,475* 

   
  8

Shared Voting Power

 

512,817

   
  9 Sole Dispositive Power
113,475*
   
  10 Shared Dispositive Power
512,817
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
626,292*
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
5.0%**
 
  14 Type of Reporting Person (See Instructions)
IN
           
*The aggregate amount includes 103,894 shares owned directly and vested options to acquire 9,581 shares of Common Stock.

**Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
Leanlien, L.L.C.
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 WC
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Texas
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

24,000

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
24,000
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
24,000
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%*
 
  14 Type of Reporting Person (See Instructions)
OO
           

*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
SLKW Investments LLC
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 WC
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Delaware
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power
 

48,817

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
48,817
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
48,817
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%*
 
  14 Type of Reporting Person (See Instructions)
OO
           

*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879

 
  1 Name of Reporting Person:
David Martin West Asset Trust
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 WC
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Texas
 
Number of Shares
Beneficially Owned
by Each Reporting

Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

5,000 

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
5,000
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
5,000
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%*
 
  14 Type of Reporting Person (See Instructions)
OO
           

*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
David West
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 United States of America
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

5,000

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
5,000
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
5,000
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%*
 
  14 Type of Reporting Person (See Instructions)
IN
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
The Kropp 2010 Family Trust
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 WC
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 Texas
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

8,000 

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
8,000
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
8,000
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%*
 
  14 Type of Reporting Person (See Instructions)
OO
           
*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

CUSIP No. 382140879
 
  1 Name of Reporting Person:
James H. Kropp
 
  2 Check the Appropriate Box if a Member of a Group (See Instructions)
    (a)  ☒
    (b)  ☐
 
  3 SEC Use Only
 
  4 Source of Funds (See Instructions):
 AF
 
  5 Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or (2) ☐
 
  6 Citizenship or Place of Organization
 United States of America
 
Number of Shares
Beneficially Owned by Each Reporting
Person With
7 Sole Voting Power
 0
   
  8

Shared Voting Power

 

8,000*

   
  9 Sole Dispositive Power
0
   
  10 Shared Dispositive Power
8,000*
 
  11 Aggregate Amount Beneficially Owned by Each Reporting Person
8,000*
 
  12 Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ☐
 
  13 Percent of Class Represented by Amount in Row (11)
Less than 1%**
 
  14 Type of Reporting Person (See Instructions)
IN
           
*Includes 8,000 shares held by The Kropp 2010 Family Trust.

 

*Based on 12,468,326 shares of Common Stock outstanding as of February 9, 2018, as reported in the Issuer’s Quarterly Report on Form 10-Q for the quarterly period ended December 26, 2017, filed with the Securities and Exchange Commission on February 9, 2018.

 

 

 

 

 

This Amendment No. 5 to Schedule 13D (this “Amendment”) amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on December 29, 2016 (as amended, the “Schedule 13D”), Delta Partners, LP, a Delaware limited partnership, Delta Partners GP, LLC, a Delaware limited liability company, Prism Partners, L.P., a Delaware limited partnership, Delta Growth Master Fund L.P., a Cayman Islands limited partnership, Delta Advisors, LLC, a Delaware limited liability company, the Jobson Family Foundation, a Massachusetts trust, Charles Jobson, an individual, REIT Redux LP, a Delaware limited partnership, REIT Redux GP, LLC, a Delaware limited liability company, Robert J. Stetson, an individual, Leanlien, L.L.C., a Texas limited liability company, SLKW Investments LLC, a Delaware limited liability company, David Martin West Asset Trust, a Texas trust, David West, an individual, The Kropp 2010 Family Trust, a Texas trust, and James H. Kropp, an individual, relating to the common stock, $0.001 par value per share (the “Common Stock”) of Good Times Restaurants Inc., a Delaware corporation (the “Issuer”), as amended by the first amendment thereto filed by certain Jobson Reporting Persons (defined below) on April 24, 2017, as amended by the second amendment thereto filed with the SEC on October 19, 2017, as amended by the third amendment thereto filed with the SEC on November 14, 2017, and as further amended by the fourth amendment thereto filed with the SEC on January 8, 2018. Information reported in the Schedule 13D remains in effect except to the extent that it is amended, restated or superseded by information contained in this Amendment. Capitalized terms used but not defined in this Amendment have the same meanings as are ascribed to them in the Schedule 13D.

 

This Amendment is being filed to supplement Items 2, 3, 4, 6 and 7 of the Schedule 13D.

 

Item 2.Identity and Background

 

Items 2(a)–(f) of the Schedule 13D are hereby amended and restated in their entirety as follows:

 

(a) This Schedule 13D is being filed by and on behalf of (i) Delta Partners, LP; (ii) Delta Partners GP, LLC; (iii) Prism Partners, L.P.; (iv) Delta Growth Master Fund L.P.; (v) Delta Advisors, LLC; (vi) Jobson Family Foundation; (vii) Charles Jobson; (viii) REIT Redux LP; (ix) REIT Redux GP, LLC; (x) Robert J. Stetson; (xi) Leanlien, L.L.C.; (xii) SLKW Investments LLC; (xiii) David Martin West Asset Trust; (xiv) David West; (xv) The Kropp 2010 Family Trust; and (xvi) James H. Kropp (the persons in clauses (i)–(vii) each, a “Jobson Reporting Person” and collectively, the “Jobson Reporting Persons”, the persons in clauses (viii)–(xvi) each, a “Stetson Reporting Person” and collectively, the “Stetson Reporting Persons”, and all persons in clauses (i)–(xvi) each, a “Reporting Person” and collectively, the “Reporting Persons”). As of March 8, 2018, Delta Partners, LP ceased to a beneficial owner, and Delta Partners GP, LLC ceased to be an indirect beneficial owner, of the Common Stock of the Issuer. The shares of Common Stock previously owned directly by Delta Partners, LP, and indirectly by Delta Partners GP, LLC, were distributed to Charles Jobson. The Reporting Persons are making this single, joint filing because they may be deemed to constitute a “group” within the meaning of Section 13(d)(3) of the Act. However, neither the fact of this filing nor anything contained herein shall be deemed to be an admission by the Reporting Persons that such a group exists. The amended and restated agreement among the Reporting Persons to file jointly (the “A&R Joint Filing Agreement”) is attached hereto as Exhibit F.

 

(b) The principal business address of each Jobson Reporting Person other than Jobson Family Foundation is 265 Franklin Street, Suite 903, Boston, MA 02110. The principal business address of Jobson Family Foundation is 39 Livingston Road, Wellesley, MA 02482. The principal business address of REIT Redux LP, REIT Redux GP, LLC, The Kropp 2010 Family Trust and James H. Kropp is 14901 Quorum Drive, Suite 900, Dallas, Texas 75254. The principal business address of Robert Stetson, Leanlien, L.L.C., and SLKW Investments LLC is 6125 Luther Lane #380, Dallas, Texas 75225. The principal business address of David Martin West Asset Trust and David West is 16475 Dallas Parkway, Suite 155, Addison, Texas 75001.

 

(c) Prism Partners, L.P. and Delta Growth Master Fund L.P. are private investment funds, the principal business of which is to make investments. Delta Partners, LP is an investment manager. The principal business of Delta Partners GP, LLC is to act as the general partner of Delta Partners, LP. The principal business of Delta Advisors, LLC is to act as the general partner of Prism Partners, L.P. The principal business of Jobson Family Foundation is to serve as a charitable foundation. Charles Jobson serves as managing member of Delta Partners GP, LLC and Delta Advisors, LLC. REIT Redux LP, REIT Redux GP, LLC, Robert J. Stetson, Leanlien, L.L.C., SLKW Investments LLC, The Kropp 2010 Family Trust, and James H. Kropp are principally engaged in the business of acquiring, holding, managing, voting and disposing of various public and private investments. David Martin West Asset Trust and David West are principally engaged in real estate and investments. Mr. Stetson also serves as Chief Executive Officer of USRP and as Chief Financial Officer of Sholand, LLC. Mr. Kropp is the Chief Financial Officer of Microproperties, LLC.

 

 

 

 

Messrs. Stetson and Jobson are former directors of the Issuer, and, as identified in Item 6, each have a contractual right to be nominated as a director by the Issuer.

 

(d)-(e) During the last five years, no Reporting Person has (i) been convicted in any criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction resulting in it being subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

(f) Delta Partners, LP, Prism Partners, L.P. and REIT Redux LP are Delaware limited partnerships. Delta Growth Master Fund L.P. is a Cayman Islands limited partnership. Delta Partners GP, LLC, Delta Advisors, LLC, and REIT Redux GP, LLC are Delaware limited liability companies. Leanlien, L.L.C. is a Texas limited liability company. SLKW Investments LLC is a Delaware limited liability company. Jobson Family Foundation is a Massachusetts trust. David Martin West Asset Trust and The Kropp 2010 Family Trusts are trusts formed under the laws of Texas. Charles Jobson, Robert Stetson, David West and James H. Kropp are each a citizen of the United States.

 

Item 3. Source and Amount of Funds or Other Consideration.

 

Paragraph 3 of Item 3 of the Schedule 13D is amended and restated in its entirety as follows:

 

All shares of Common Stock held directly by Robert Stetson (103,894 as of the reporting date) were acquired through either the purchase of Common Stock from the Issuer in a 2013 capital raise by the Issuer, through the exercise of warrants acquired as warrant coverage in connection therewith, or in the open market. The total amount of funds used by Mr. Stetson was approximately $229,620. All shares of Common Stock held directly by Leanlien, L.L.C. were acquired in the open market and the total of funds used by Leanlien, L.L.C. was approximately $49,800. All shares of Common Stock held directly by SLKW Investments LLC were acquired in the open market and the total of funds used by SLKW Investments LLC was approximately $121,424. David Martin West Asset Trust and The Kropp 2010 Family Trust acquired shares of Common Stock through either the purchase of Common Stock from the Issuer in a 2013 capital raise by the Issuer or through the exercise of warrants acquired as warrant coverage in connection therewith using aggregate funds of $13,600 (David Martin West Asset Trust) and $22,000 (The Kropp 2010 Family Trust). All shares of the foregoing shares of Common Stock were paid for using the working capital or personal or family investment capital of such Reporting Persons. Robert Stetson may also be deemed to beneficially own the shares of Common Stock held directly by SLKW Investments LLC, REIT Redux LP, and Leanlien, L.L.C. Neither David West nor James H. Kropp (who may be deemed to beneficially own the shares held by David Martin West Asset Trust and The Kropp 2010 Family Trust, respectively) holds shares of Common Stock directly.

 

Item 4. Purpose of Transaction

 

Item 4 of the Schedule 13D is hereby amended by adding the following paragraphs as the eleventh and twelfth paragraph of such Item:

 

On March 12, 2018, Charles Jobson, Robert J. Stetson, and the Issuer amicably entered into the Settlement Agreement attached hereto as Exhibit J (the “Settlement Agreement”). Pursuant to the terms of the Settlement Agreement, Messrs. Jobson and Stetson have agreed to cause Delta and REIT to withdraw the Nomination Letter. In exchange, the Issuer has agreed to nominate Geoffrey Bailey, Boyd Hobak, Jason Maceda, Mr. Stetson and Mr. Jobson for election to the Issuer’s board of directors at the Issuers annual meeting of stockholders to be held on May 23, 2018. Messrs. Jobson and Stetson have agreed to vote for such persons at such meeting, and intend to cause the Reporting Persons to do the same. The foregoing description of the Settlement Agreement does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, a copy of which is attached as Exhibit J hereto, which exhibit is incorporated by reference in its entirety in this Item 4.

 

 

 

 

Accordingly, Delta and REIT have withdrawn the Nomination Letter and no longer intend to solicit proxies for the election of the nominees. In light of the execution of the Settlement Agreement, the Reporting Persons look forward to working constructively with the Issuer and, the case of Messrs. Jobson and Stetson in their roles as directors, working together with the other directors to enhance shareholder value.

 

Item 5. Interest in Securities of the Issuer.

 

Item 5(e) is hereby amended and restated in its entirety as follows:

 

(e) Delta Partners, LP and Delta Partners GP, LLC ceased to be the beneficial owners of more than 5% of the Common Stock of the Issuer as of March 8, 2018.  

 

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

 

Item 6 of the Schedule 13D is hereby amended and restated in its entirety as follows:

 

The information disclosed in Item 4 above is hereby incorporated herein by reference.

 

Item 7. Material to be Filed as Exhibits

 

Item 7 of the Schedule 13D is amended by amending and restating the following:

 

Exhibit F – A&R Joint Filing Agreement

Exhibit I – Transactions Effected During the Past Sixty Days

 

Item 7 of the Schedule 13D is amended by adding the following:

 

Exhibit J – Settlement Agreement

 

 

 

 

SIGNATURE

 

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.

 

Dated: March 13, 2018DELTA PARTNERS, LP
   
 By: Delta Partners GP, LLC, its general partner 
  
By:/s/ Charles Jobson
 Name: Charles Jobson
Title: Managing Member

 

DELTA PARTNERS GP, LLC
   
By:/s/ Charles Jobson
 Name: Charles Jobson
Title: Managing Member

 

DELTA GROWTH MASTER FUND L.P.
   
 By: Delta Advisors, LLC, its general partner
  
By:/s/ Charles Jobson
 Name: Charles Jobson
Title: Managing Member

 

PRISM PARTNERS, L.P.
   
 By: Delta Advisors, LLC, its general partner
  
By:/s/ Charles Jobson
 Name: Charles Jobson
Title: Managing Member

 

DELTA ADVISORS, LLC
   
By:/s/ Charles Jobson
 Name: Charles Jobson
Title: Managing Member

 

JOBSON FAMILY FOUNDATION
   
By:/s/ Charles Jobson
 Name: Charles Jobson
Title: Trustee

 

CHARLES JOBSON
   
By:/s/ Charles Jobson
   Charles Jobson, individually

 

 

 

  

REIT REDUX LP
  
 By:    REIT Redux GP, LLC, its general partner
   
By:/s/ Robert Stetson
 Name: Robert Stetson
 Title: President

 

REIT REDUX GP, LLC
  
By:/s/ Robert Stetson
 Name: Robert Stetson
 Title: President

 

LEANLIEN, L.L.C.
  
By:/s/ Robert Stetson
 Name: Robert Stetson
 Title: Manager

 

ROBERT STETSON
  
By:/s/ Robert Stetson
   Robert Stetson, individually

 

SLKW INVESTMENTS LLC
  
By:/s/ Robert Stetson
 Name: Robert Stetson
 Title: Managing Member

 

DAVID MARTIN WEST ASSET TRUST
  
By:/s/ David West
 Name: David West
 Title: Trustee

 

DAVID WEST
  
By:/s/ David West
   David West, individually

 

THE KROPP 2010 FAMILY TRUST  
  
By:/s/ James H. Kropp
 Name: James H. Kropp
 Title: Trustee

 

JAMES H. KROPP
  
By:/s/ James H. Kropp
   James H. Kropp, individually

 

 

 


 

Exhibit F

 

AMENDED AND RESTATED JOINT FILING AGREEMENT

 

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13D dated March 13, 2018 (including amendments thereto) with respect to the Common Stock of Good Times Restaurants Inc. This Amended and Restated Joint Filing Agreement shall be filed as an Exhibit to such Statement.

 

Dated:     March 13, 2018

 

DELTA PARTNERS, LP   REIT REDUX GP, LLC
         
By: Delta Partners GP, LLC, its general partner   By: /s/ Robert Stetson
      Name: Robert Stetson
By: /s/ Charles Jobson   Title: President
Name: Charles Jobson      
Title: Managing Member      
         
DELTA PARTNERS GP, LLC   LEANLIEN, L.L.C.
     
By: /s/ Charles Jobson   By: /s/ Robert Stetson
Name: Charles Jobson   Name: Robert Stetson
Title: Managing Member   Title: Manager
         
PRISM PARTNERS, L.P.   ROBERT STETSON
         
By: Delta Advisors, LLC, its general partner   By: /s/ Robert Stetson
        Robert Stetson, individually
By: /s/ Charles Jobson      
Name: Charles Jobson      
Title: Managing Member      
         
DELTA ADVISORS, LLC   DAVID MARTIN WEST ASSET
     
By: /s/ Charles Jobson   By: /s/ David West
Name: Charles Jobson   Name: David West
Title: Managing Member   Title: Trustee
         
JOBSON FAMILY FOUNDATION   DAVID WEST
     
By: /s/ Charles Jobson   By: /s/ David West
Name: Charles Jobson     David West, individually
Title: Trustee      
     
CHARLES JOBSON   THE KROPP 2010 FAMILY TRUST
     
By: /s/ Charles Jobson   By: /s/ James H. Kropp
  Charles Jobson, individually   Name: James H. Kropp
      Title: Trustee
         
REIT REDUX LP   JAMES H. KROPP
     
By: REIT Redux GP, LLC, its general partner   By: /s/ James H. Kropp
        James H. Kropp, individually
By: /s/ Robert Stetson      
Name: Robert Stetson      
Title: President      

   

SLKW INVESTMENTS LLC  
   
By: /s/ Robert Stetson    
Name: Robert Stetson  
Title: Managing Member  

  

 

 

 

Exhibit I

 

TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS

 

The below transactions in the Common Stock were effected by, or for the benefit of, SLKW Investments LLC in the open market.

 

Transaction Date Transaction Type Number of Shares Average Price Per Share (including commissions)
February 5, 2018 Purchase (shares acquired by Reporting Person) 4,000 $2.35
February 6, 2018 Purchase (shares acquired by Reporting Person) 3,000 $2.3417   
February 7, 2018 Purchase (shares acquired by Reporting Person) 1,600 $2.45
February 8, 2018 Purchase (shares acquired by Reporting Person) 400 $2.35
February 9, 2018 Purchase (shares acquired by Reporting Person) 1,700 $2.3417   
February 12, 2018 Purchase (shares acquired by Reporting Person) 2 $2.45
February 13, 2018 Purchase (shares acquired by Reporting Person) 1,214 $2.5494   
February 14, 2018 Purchase (shares acquired by Reporting Person) 17,100 $2.60
February 15, 2018 Purchase (shares acquired by Reporting Person) 7,700 $2.60
February 21, 2018 Purchase (shares acquired by Reporting Person) 101 $2.5494   
February 22, 2018 Purchase (shares acquired by Reporting Person) 500 $2.60

 

The below transaction in the common stock was effected by, or for the benefit of, Delta Partners, LP and Charles Jobson.

 

Transaction Date Transaction Type Number of Shares Average Price Per Share (including commissions)
March 8, 2018 Other Transaction (distribution from Delta Partners, LP to Charles Jobson) 670,784 $0

 

 

 

 

 

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