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Risk Factors Relating to Our Business:
+Added: The COVID-19 pandemic and measures taken in response thereto may have a material negative impact on our business, results of operations and cash flows, and financial condition.
+Added: The extent of the impact is dependent upon future developments, which are highly uncertain and difficult to predict.
+Added: In March 2020, the World Health Organization characterized COVID-19, a disease caused by a novel strain of a coronavirus, as a pandemic.
+Added: The rapid spread of COVID-19 has resulted in governmental authorities throughout the United States implementing a variety of containment measures with the objective of slowing the spread of the virus, including travel restrictions, shelter-in-place orders and business shutdowns.
+Added: The COVID-19 pandemic and these containment measures have the potential to have a material impact on the Company’s business.
+Added: We began to see a significant reduction in paid attendance at our Georgia and Missouri Parks beginning the week of March 9, 2020.
+Added: Effective April 3, 2020, both Parks were closed to the public as a result of shelter-in-place mandates in Georgia and Missouri.
+Added: Prior to the Company’s acquisition of the Texas Park, its operations were also closed to the public for the majority of April 2020 due to a shelter-in-place mandate in Texas.
+Added: In compliance with respective state issued guidelines, our Georgia Park reopened on May 1, 2020 and our Missouri Park reopened on May 4, 2020, with the drive-through portion of our Texas Park reopening on May 1, 2020 and the park was fully reopened on May 15, 2020.
+Added: Since we reopened each of our Parks, attendance levels at each facility have been strong from mid-May through September 2020, which has continued into our 2021 fiscal year.
+Added: There is also the potential for our attendance levels to decline after other attractions have reopened to full capacity once the COVID-19 pandemic has run its course or vaccines are in use and made widely available.
+Added: While our business has experienced a rebound subsequent to the reopening of our Parks, there may be longer-term negative impacts to our business, results of operations and cash flows, and financial condition as a result of the COVID-19 pandemic.
+Added: These negative impacts include changes in customer behavior and preferences causing significant volatility or reductions in Park attendance, increases in operating expenses to comply with additional hygiene-related protocols, limitations in our ability to recruit and maintain staffing, limitations on our employees ability to work and travel, and significant changes in the economic or political conditions in the areas our Parks are located.
+Added: Despite our efforts to manage these impacts, the ultimate impact may be material, and will depend on a number of factors beyond our control, including the duration and severity of the COVID-19 pandemic and actions by governmental authorities taken to contain its spread and mitigate its public health effects.
+Added: The extent and duration of longer-term impacts of the COVID-19 pandemic on customer perceptions of our Parks are largely uncertain and dependent upon future developments that cannot be accurately predicted.
+Added: There is no recent historical precedent that provides insights into the longer-term impacts that the COVID-19 pandemic will have on consumer behavior.
+Added: As a result, the ultimate impact is highly uncertain and subject to change.
+Added: We do not yet know the full extent COVID-19 will have on our overall business, results of operations and cash flows, and financial position.
+Added: COVID-19 and the resulting economic disruptions have also led to significant volatility in the capital markets.
+Added: As a smaller public company, our ability to access cash is already difficult and the impacts of COVID-19 on capital markets has likely had negatively impacted our ability to raise additional capital at a reasonable cost.
The Theme Park Industry is highly competitive and we may be unable to compete effectively.
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Branson, Missouri is located just 45 minutes from our Missouri Park.
+Added: There are a variety of animal attractions throughout southeastern Texas;
+Added: the nearest is Franklin Drive Thru Safari, within a 35-40 minute drive of our Texas Park.
Many of our current competitors are significantly larger and have substantially greater market presence as well as greater financial, technical, operational, marketing and other resources and experience than we have.
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The increasing availability and quality of technology-based entertainment has provided families with a wider selection of entertainment alternatives in their homes, including home entertainment units, in-home and online gaming, as well as on-demand streaming video and related access to various forms of entertainment.
−Removed: In addition, traditional theme parks have been able to reduce the cost and increase the variety of their attractions by implementing technologies that cannot be readily incorporated by wild animal attractions such as our Georgia and Missouri Parks.
+Added: In addition, traditional theme parks have been able to reduce the cost and increase the variety of their attractions by implementing technologies that cannot be readily incorporated by wild animal attractions such as our Parks.
The suspension or termination of any of our business licenses may have a negative impact on our business.
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Our business plan includes expansion via the acquisition of additional local or regional theme parks and attractions, if attractive opportunities arise.
−Removed: However, we have not made an acquisition since 2008 and there can be no assurance that we will be successful in acquiring and operating additional local or regional theme parks and attractions.
+Added: There can be no assurance that we will be successful in acquiring and operating additional local or regional theme parks and attractions.
Competition for acquisition opportunities in the theme park industry is intense as there are a limited number of parks within the United States that could reasonably qualify as acquisition targets for us.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.