What changed in this filing

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Item 1. Business

2022-12-15 compared with 2021-12-09 · 47 added, 49 removed, 83 unchanged (54% of the section changed)

10 unchanged sentences

Park on April 27, 2020.

Parks are open year round but experience increased seasonal attendance, typically beginning in the latter half of March through early

As a result, our combined third and fourth quarter net sales have historically ranged from 68% to 72% of our annual attendance

based net sales.

For our 2021 fiscal year, the first full year including our Texas Park, combined third and fourth quarter net sales

were approximately 60% of our annual attendance based net sales.

business plan includes expansion via the acquisition of additional local or regional theme parks and attractions, if attractive opportunities

parks are open year round, but experience increased seasonal attendance, typically beginning in the latter half of March through

early September.

Combined third and fourth quarter net sales were 62.1% and 60.3% of annual attendance based net sales for our 2022

and 2021 fiscal years, respectively.

Since the acquisition of our Texas Park, the combined third and fourth quarter concentration of

our sales has been reduced.

business plan includes expansion via the acquisition of additional local or regional theme parks and attractions.

We believe acquisitions, if any, should not unnecessarily encumber the Company with additional debt that cannot be justified by

16 unchanged sentences

We changed the name of the Company to Great American Family

The acquisition was accounted for as a “reverse acquisition” in which Great Western Parks was considered to be

the acquirer of Royal Pacific Resources for reporting purposes.

As of June 11, 2008, the Company changed its name from Great American

Family Parks, Inc.

The acquisition was accounted for as a “reverse acquisition” in which Great Western Parks was considered the

acquirer of Royal Pacific Resources for reporting purposes.

As of June 11, 2008, the Company changed its name from Great American Family

to its current name, Parks!

America, Inc.

In addition, effective June 25, 2008, the Company’s quotation symbol

on the OTCPink was changed from GFAM to PRKA.

In addition, effective June 25, 2008, the Company’s quotation symbol on the

OTCPink was changed from GFAM to PRKA.

Animal Safari, Inc.

27 unchanged sentences

featuring reptiles from several continents.

During our 2018 fiscal year, we made a significant investment in acquiring a baby female

giraffe for our Missouri Park.

During our 2020 fiscal year, we completed an expanded giraffe exhibit, which allows our guests to view

and feed our giraffes year round.

Aggieland-Parks,

10 unchanged sentences

animals along a crushed-gravel road that runs throughout the drive-through section of our Texas Park’s natural habitat area.

Our Texas Park also includes a 20-acre Walkabout Adventure Zoo, featuring outdoor and indoor animal exhibits, a reptile house, two aviaries,

Texas Park also includes a 20-acre Walkabout Adventure Zoo, featuring outdoor and indoor animal exhibits, a reptile house, two aviaries,

extensive giraffe and tortoise encounter areas, an otter exhibit, and a large hippopotamus enclosure and pond.

1 unchanged sentence

revenues are primarily derived from admission fees, food and beverage sales, gift shop and specialty item sales, and sales of animal

We also provide vehicle rentals at our Georgia Park.

Management’s plans to grow revenues at each of our Parks include ongoing

improvements to existing facilities, making each Park more attractive to visitors and developing unused acreage.

We also believe that

increasing local and regional awareness of each Park via advertising and promotion is a critical element of our revenue growth plans,

especially for our Texas and Missouri Parks.

addition to the animal environments, each of our Parks contain a gift shop, a restaurant or concessions, and picnic areas.

and beverages in our restaurants or concession areas, and a variety of items in our gift shops, including shirts, hats, educational books,

toys and novelty items, many of which are animal themed.

Our 2022 fiscal year plans include the addition of an expansive new giraffe

exhibit at our Georgia Park, a holiday lights drive through display at our Missouri Park, and expanding the guest food service capabilities

and offerings at our Texas Park.

Increasing attendance, as well as increasing the per capita income generated in our gift shops and from

concessions continues to be a primary focus.

We also plan on increasing revenues via on-going product development,

including animal encounters and rental vehicles at all three of our Parks.

majority of the animals at each of our Parks were born on-site or domestically acquired.

We rarely import animals and have not imported

any animals in the past 10 years.

During our 2022 fiscal year, we introduced private and semi-private animal keeper guided animal encounters at each of our parks.

We also introduced vehicle rentals at our Missouri and Texas Parks, which have been a customer favorite at our Georgia Park for over

Management’s plans to grow revenues at each of our parks include ongoing improvements to existing facilities, making

each park more attractive to visitors and developing unused acreage.

We also believe that increasing local and regional awareness of

each park via advertising and promotion is a critical element of our revenue growth plans, especially for our Texas and Missouri Parks.

addition to the animal environments, each of our parks contain a gift shop, a restaurant or concessions areas, and picnic areas.

food and beverages in our restaurants or concession areas, and a variety of items in our gift shops, including shirts, hats, educational

books, toys and novelty items, many of which are animal themed.

Our 2023 fiscal year plans include the continuing renovation of walk

about animal habitats and enclosures, especially at our Georgia Park, completion of a new otter exhibit at our Missouri Park, and the

completion of expanded food service capabilities and offerings at our Texas Park.

Our plan to open a significant new giraffe exhibit

at our Georgia Park during our 2022 fiscal year experienced delays due to a highly inflationary period for building materials and a challenging

labor market.

We remain committed to this showcase attraction and expect to make progress on this project during our 2023 fiscal year,

however the opening date is still unknown.

Increasing attendance, as well as increasing the per capita income generated in our gift shops

and from concessions, continues to be a primary focus.

of the animals at each of our parks have been born on-site or domestically acquired.

We rarely import animals and have not imported any

animals in the past 10 years.

Auctions and sales of animals across the United States occur often and we may acquire animals in these

auctions if we see an opportunity to enhance our Parks.

As a result of natural breeding, animal populations at our Parks tend to grow

Periodically, we sell surplus animals born at each Park, and these proceeds are recorded as revenue.

auctions if we see an opportunity to enhance the animal population at our parks.

As a result of natural breeding, animal populations

at our Parks tend to grow over time.

Periodically, we sell surplus animals, and the proceeds are recorded as revenue.

The periodic acquisition

5 unchanged sentences

standard of animal care and has passed all recent inspections.

Georgia Park has approximately 27 full-time employees.

During our Georgia Park’s prime attendance season, which typically begins

in the latter half of March and extends through early September, we engage up to 30-35 additional part-time and seasonal employees.

Our Missouri Park has approximately 14 full-time employees and engages in the range of 15-20 additional part-time and seasonal employees.

Our Texas Park has approximately 14 full-time employees and engages in the range of 15-20 additional part-time and seasonal employees.

We also engage consultants from time to time.

We have no collective bargaining agreements with our employees and believe our relations

with our employees are good.

America has three officers and one director who oversee the strategy of the Company, the operations

and capital investment activities of our Parks, as well as the overall financial activities, controls and reporting for the Company and

Georgia Park has approximately 25 full-time employees and engages a range of 20-35 additional part-time and seasonal employees.

Park has approximately 12 full-time employees and engages in the range of 10-20 additional part-time and seasonal employees.

Park has approximately 14 full-time employees and engages in the range of 10-20 additional part-time and seasonal employees.

engage consultants from time to time.

We have no collective bargaining agreements with our employees and believe our relations with our

employees are good.

America has three officers and one manager who oversee the strategy of the Company, the operations and capital

investment activities of our Parks, as well as the overall financial activities, controls and reporting for the Company and each Park.

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.

What changed 10-K

Item 1. Business