Good Times Restaurants Inc.(NASDAQ:GTIM) said same-store sales for its fiscal Q3 ended June 30 rose 12.5% while June same-store sales were up 10.6%, while warning that three large shareholders may sell their stakes in the operator of Good Times Burgers & Frozen Custard.Regarding the same-stores sales jump, CEO Boyd Hoback said: “We are maintaining our two-year trend of double digit sales growth on top of double digit growth and are only 50% of the way through our remodeling process of older stores,”

As for the shareholders who may sell their stakes, the company said the shareholders are exercising their rights arising from their acquisition of the shares to request that their shares be registered for possible future sale. The company said it is cooperating with the requests and noted the shareholders haven’t named any specific plan for the sale of the shares following the registration. GTIM was flat recently with its Monday close of $3.65, in the upper half of its 52-week range between $2.00 and $4.07.