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SECURITIES AND EXCHANGE COMMISSION -------------------------------
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SCHEDULE 13D
(Rule 13d-101)
Information to be included in statements filed pursuant to Rule 13d-1(a)
and Amendments thereto filed pursuant to Rule 13d-2(a)
(Amendment No. 5)/1/
GOOD TIMES RESTAURANTS INC.
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(Name of Issuer)
COMMON STOCK, $0.001 par value
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(Title of Class of Securities)
0003821401
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(CUSIP Number)
DARREN R. HENSLEY, ESQ., JACOBS CHASE FRICK KLEINKOPF & KELLEY LLC
1050 SEVENTEETH STREET, STE. 1500, DENVER, COLORADO 80265 (303) 685-4800
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 25, 1999
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(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7(b) for other
parties to whom copies are to be sent.
/1/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).
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SCHEDULE 13D
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CUSIP No. 0003821401 Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only)
THE BAILEY COMPANY, LLLP, IRS # 84-0584467
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
COLORADO
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7 SOLE VOTING POWER
NUMBER OF -0-
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 846,512
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
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WITH 10 SHARED DISPOSITIVE POWER
846,512
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
846,512
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
38.9%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
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CUSIP No. 0003821401 Page 3 of 7 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only)
THE ERIE COUNTY INVESTMENT CO., IRS #34-4227790
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
OHIO
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7 SOLE VOTING POWER
NUMBER OF -0-
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 888,292
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
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WITH 10 SHARED DISPOSITIVE POWER
861,192
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
888,292
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
40.9%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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SCHEDULE 13D
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CUSIP No. 0003821401 Page 4 of 7 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only)
PAUL T. BAILEY
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
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7 SOLE VOTING POWER
NUMBER OF 60,700
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SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 888,292
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 60,700
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WITH 10 SHARED DISPOSITIVE POWER
861,192
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
948,992
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
43.7%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 0003821401 Amendment No. 5 Page 5 of 7 Pages
- -------------------- to Schedule 13D -----------------
This amended statement relates to the shares of Common Stock, $0.001 par
value ("Common Stock"), of Good Times Restaurants Inc., a Nevada corporation
(the "Company"). Items 3 and 5 of a Statement on Schedule 13D previously filed
by The Erie County Investment Co., an Ohio corporation ("Erie"), The Bailey
Company, LLLP, a Colorado limited liability limited partnership ("Bailey"), and
Mr. Paul T. Bailey, an individual ("Mr. Bailey"), are amended as set forth
below.
Item 3. Source and Amount of Funds or Other Consideration.
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No change except for the addition of the following:
On June 25, 1999, Mr. Bailey acquired 15,000 of the Company's Series A
Redeemable Common Stock Purchase Warrants and 18,000 of the Company's Series B
Redeemable Common Stock Purchase Warrants (collectively, the "Warrants") in open
market transactions, such Warrants being traded under the ticker symbols GTIMW
and GTIMZ, respectively, for a purchase price of $.035 and $.03125,
respectively, per Warrant. Each Warrant is exercisable for one share of Common
Stock at an exercise price of $3.00 per share. On June 30, 1999, Mr. Bailey
exercised the Warrants and received an aggregate of 33,000 shares of Common
Stock (the "Public Warrant Stock"). The acquisition of the Warrants and the
exercise thereof were funded out of Mr. Bailey's personal funds.
Item 5. Interest in Securities of the Issuer.
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No change except for restatement of (a) and (b) and the addition to (c) as
follows:
(a) Bailey beneficially owns 846,512 shares of Common Stock, which
represent approximately 38.9% of the outstanding Common Stock (based on the
number of shares of Common Stock outstanding as of March 31, 1999 as reported by
the Company in its Quarterly Report on Form 10-QSB for the quarter ended March
31, 1999 and the issuance of the June Stock (as defined in Amendment No. 4 to
this Statement on Schedule 13D ("Amendment No. 4")), the Warrant Stock (as
defined in Amendment No. 4) and the Public Warrant Stock (collectively, the
"Outstanding Shares")), 25,000 of which Bailey has the right to acquire upon
exercise of a warrant. Erie and Mr. Bailey beneficially own 41,780 shares and
60,700 shares of Common Stock, respectively, which represent approximately 1.9%
and 2.8%, respectively, of the Outstanding Shares. Erie and Mr. Bailey may be
deemed to beneficially own the 846,512 shares of Common Stock beneficially owned
by Bailey and Mr. Bailey may be deemed to beneficially own the 41,780 shares of
Common Stock beneficially owned by Erie. Erie and Mr. Bailey disclaim
beneficial ownership of any shares of Common Stock beneficially owned by Bailey
and Mr. Bailey disclaims beneficial ownership of any shares of Common stock
beneficially owned by Erie.
(b) Bailey, Erie and Mr. Bailey may be deemed to share voting and
dispositive power
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CUSIP No. 0003821401 Page 6 of 7 Pages
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the 846,512 shares of Common stock beneficially owned by Bailey. Erie and
Mr. Bailey may be deemed to share voting and dispositive power over 14,680
shares of Common Stock beneficially owned by Erie and voting power over 27,100
shares of Common Stock sold by Erie to its employees. Mr. Bailey has sole voting
and dispositive power over the 60,700 shares of Common Stock held by Mr. Bailey.
(c) Other than (i) the purchases of the Warrants and the exercise thereof
by Mr. Bailey as set forth in Item 3 above and incorporated herein by reference
in its entirety and (ii) the transactions previously reported in Amendment No.
4, in the past 60 days, none of Bailey, Erie or Mr. Bailey has effected any
transaction in the Common Stock.
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CUSIP No. 0003821401 Page 7 of 7 Pages
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SIGNATURE
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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.
July 2, 1999
____________________________________
(Date)
THE BAILEY COMPANY, LLLP, a Colorado limited liability
limited partnership
By: THE ERIE COUNTY INVESTMENT CO., an Ohio
corporation, its general partner
By: /s/ William D. Whitehurst
________________________________________
William D. Whitehurst, Vice-President
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.
July 2, 1999
________________________________________________
(Date)
THE ERIE COUNTY INVESTMENT CO., an Ohio
corporation
By: /s/ William D. Whitehurst
______________________________________
William D. Whitehurst, Vice-President
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.
July 2, 1999
________________________________________________
(Date)
By: /s/ William D. Whitehurst
______________________________________
Paul T. Bailey
By: William D. Whitehurst
By Power of Attorney
