What changed in this filing

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Item 1. Business

2023-12-12 compared with 2022-12-15 · 80 added, 64 removed, 66 unchanged (69% of the section changed)

America, Inc., through our wholly owned subsidiaries, owns and operates three regional theme parks and is in the business of acquiring,

developing and operating local and regional theme parks and attractions in the United States.

Our wholly owned subsidiaries are Wild

Animal Safari, Inc., a Georgia corporation (“Wild Animal – Georgia”), Wild Animal, Inc., a Missouri corporation (“Wild

America, Inc., through our wholly owned subsidiaries, owns and operates three regional safari parks and is in the business of acquiring,

developing and operating local and regional entertainment assets in the United States.

Our wholly owned subsidiaries are Wild Animal

Safari, Inc., a Georgia corporation (“Wild Animal – Georgia”), Wild Animal, Inc., a Missouri corporation (“Wild

Animal – Missouri”), and Aggieland-Parks, Inc., a Texas corporation (“Aggieland Wild Animal – Texas”).

Wild Animal – Georgia owns and operates the Wild Animal Safari theme park in Pine Mountain, Georgia (the “Georgia Park”).

Wild Animal – Missouri owns and operates the Wild Animal Safari theme park located in Strafford, Missouri (the “Missouri

Aggieland Wild Animal – Texas owns and operates the Aggieland Wild Animal Safari theme park near Bryan/College Station,

Wild Animal – Georgia owns and operates the Wild Animal Safari park in Pine Mountain, Georgia (the “Georgia Park”).

Wild Animal – Missouri owns and operates the Wild Animal Safari park located in Strafford, Missouri (the “Missouri

Aggieland Wild Animal – Texas owns and operates the Aggieland Wild Animal Safari park near Bryan/College Station,

Texas (the “Texas Park”).

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early September.

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

Combined third and fourth quarter park revenues were 60.4% and 62.1% of annual park revenues for our

2023 and 2022 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

current operations.

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

concentration of our park revenues has been reduced.

business plan includes expansion via the acquisition of additional local or regional safari parks and entertainment assets.

acquisitions, if any, should not unnecessarily encumber the Company with additional debt that cannot be justified by current operations.

We may also pursue contract management opportunities for themed attractions owned by third parties.

By using a combination

of equity, debt and other financing options, we intend to carefully monitor stockholder value in conjunction with the pursuit of growth.

By using a combination of equity,

debt and other financing options, we intend to carefully monitor stockholder value in conjunction with the pursuit of growth.

of our common stock trade on the OTC Markets Group OTCPink marketplace (“OTCPink”) under the symbol, “PRKA.”

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in Washington State.

On October 1,

1, 2002, Painted Desert Uranium & Oil Co., Inc.

changed its name to Royal Pacific Resources, Inc.

and its corporate domicile to the

State of Nevada.

December 19, 2003, Royal Pacific Resources, Inc.

acquired the assets of Great Western Parks LLC pursuant to a Share Exchange Agreement

that set the stage for our current corporate structure and operating strategy.

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 the

acquirer of Royal Pacific Resources for reporting purposes.

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

and its corporate domicile to

the State of Nevada.

On December 19, 2003, Royal Pacific Resources, Inc.

acquired the assets of Great Western Parks LLC pursuant to

a Share Exchange Agreement that set the stage for our current corporate structure and operating strategy.

We changed the name of the

Company to 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 Parks, Inc.

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.

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reptiles, comprised of over 65 species.

The majority of the animals roam wild in a natural habitat.

Visitors can observe, photograph

and feed the animals along the paved road that runs through the drive-through section of our Georgia Park’s natural habitat area.

Some animals are contained in special fenced-in exhibit areas within the natural habitat, drive-through section of our Georgia Park,

while others are in a more traditional zoo-like walk through section of the park, the Walkabout Adventure Zoo, which also includes a

reptile house, featuring reptiles from several continents.

Most of the animals roam wild in a natural habitat.

Visitors can observe, photograph and feed

the animals along the paved road that runs through the drive-through section of our Georgia Park’s natural habitat area.

are contained in special fenced-in exhibit areas within the natural habitat, drive-through section of our Georgia Park, while others

are in a more traditional zoo-like walk through section of the park, the Walkabout Adventure Zoo, which also includes a reptile house,

featuring reptiles from several continents.

late March 2023, our Georgia Park experienced extensive damage, caused by an EF-3 tornado and over nine inches of rain, resulting in

more than 4,500 fallen trees and damage to many of the Park’s animal enclosures, fencing and other infrastructure.

The Walkabout

Adventure Zoo (“Walkabout”) portion of the property was particularly hard hit.

Our Georgia Park was closed for 20 days, including

for most of its traditionally busy spring break period, which has historically comprised approximately 10%-15% of its annual revenue.

The drive-through safari section of the Georgia Park reopened on April 15th.

The Walkabout portion of the park has reopened in phases,

with the first phase on May 6th and the second phase on July 2nd.

Approximately one-quarter of the Walkabout remains closed.

fiscal year capital projects reflect further strategic rebuild of our Georgia Park following the March 2023 weather event and continue

to set the stage for longer-term master planning.

– Our Missouri Park

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over 65 species.

Most of the animals roam wild throughout the natural habitat.

Visitors can observe, photograph and feed the animals

along the paved road that runs throughout the drive-through section of our Missouri Park’s natural habitat area.

Some animals are

contained in special fenced-in exhibit areas within the natural habitat, drive-through section of our Missouri Park and other animals

are in a more traditional zoo-like walk through section of the park, the Walkabout Adventure Zoo, which also contains a reptile house,

featuring reptiles from several continents.

Most of the animals roam wild throughout a natural habitat.

Visitors can observe, photograph and feed the animals along

the paved road that runs throughout the drive-through section of our Missouri Park’s natural habitat area.

Some animals are contained

in special fenced-in exhibit areas within the natural habitat, drive-through section of our Missouri Park and other animals are in a

more traditional zoo-like walk through section of the park, the Walkabout Adventure Zoo, which also contains a reptile house, featuring

reptiles from several continents.

Aggieland-Parks,

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comprised of over 70 species.

The majority of the animals roam wild in a natural habitat.

Most of the animals roam wild throughout a natural habitat.

Visitors can observe, photograph and feed the

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

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.

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

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

Park Operations

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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.

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

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

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

Our 2024 fiscal year plans include the continuing

renovation of Walkabout animal habitats and enclosures, especially at our Georgia Park following the impact of the March 2023

weather event, the rebuild of a new restroom building and main entry plaza at our Georgia park and maintenance capital on roadways

and core infrastructure.

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.

While we remain

committed to this showcase attraction, the project has been further delayed due to the extensive damage and ongoing rebuild efforts

following the March 2023 severe weather and tornado event.

We expect to establish a revised timeline for this project during our

2024 fiscal year.

Increasing attendance, and overall guest satisfaction, as well as increasing the per capita revenue 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.

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standard of animal care and has passed all recent inspections.

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.

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

Our Missouri Park

has approximately 11 full-time employees and engages 6-12 additional part-time and seasonal employees.

Our Texas Park has approximately

13 full-time employees and engages 8-12 additional part-time and seasonal employees.

We also engage consultants from time to time.

have no collective bargaining agreements with our employees and believe our relations with our employees are good.

two 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