2023 Q4 Form 10-K Financial Statement
#000149315223044561 Filed on December 12, 2023
Income Statement
Concept | 2023 Q4 | 2023 | 2022 |
---|---|---|---|
Revenue | $2.853M | $9.440M | $10.74M |
YoY Change | -6.93% | -12.11% | -9.45% |
Cost Of Revenue | $355.3K | $1.285M | $1.447M |
YoY Change | -1.29% | -11.18% | -2.86% |
Gross Profit | $2.498M | $8.155M | $9.295M |
YoY Change | -7.68% | -12.26% | -10.4% |
Gross Profit Margin | 87.55% | 86.39% | 86.53% |
Selling, General & Admin | $1.843M | $7.015M | $7.218M |
YoY Change | 2.16% | -2.81% | 24.06% |
% of Gross Profit | 73.77% | 86.02% | 77.66% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $235.7K | $866.0K | $766.9K |
YoY Change | 15.11% | 12.92% | 8.93% |
% of Gross Profit | 9.44% | 10.62% | 8.25% |
Operating Expenses | $2.078M | $7.015M | $7.218M |
YoY Change | 3.48% | -2.81% | 10.67% |
Operating Profit | $419.6K | -$430.3K | $1.201M |
YoY Change | -39.83% | -135.84% | -68.83% |
Interest Expense | -$52.66K | $222.4K | $261.6K |
YoY Change | -10.97% | -14.99% | -181.26% |
% of Operating Profit | -12.55% | 21.79% | |
Other Income/Expense, Net | $15.52K | $80.23K | $91.28K |
YoY Change | -32.37% | -12.11% | 77.83% |
Pretax Income | $90.54K | -$572.4K | $1.030M |
YoY Change | -85.82% | -155.56% | -72.01% |
Income Tax | $87.22K | -$88.68K | $302.8K |
% Of Pretax Income | 96.33% | 29.39% | |
Net Earnings | $3.330K | -$483.7K | $727.5K |
YoY Change | -99.31% | -166.49% | -74.0% |
Net Earnings / Revenue | 0.12% | -5.12% | 6.77% |
Basic Earnings Per Share | $0.00 | -$0.01 | $0.01 |
Diluted Earnings Per Share | $0.00 | -$0.01 | $9.676K |
COMMON SHARES | |||
Basic Shares Outstanding | 75.52M shares | 75.37K shares | 75.19M shares |
Diluted Shares Outstanding | 75.58K shares | 75.37K shares | 75.19K shares |
Balance Sheet
Concept | 2023 Q4 | 2023 | 2022 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $4.098M | $4.098M | $5.472M |
YoY Change | -25.1% | -25.1% | -17.77% |
Cash & Equivalents | $4.098M | ||
Short-Term Investments | $1.010M | ||
Other Short-Term Assets | $558.7K | $558.7K | $170.8K |
YoY Change | 227.13% | 227.13% | -2.55% |
Inventory | $419.1K | $419.2K | $542.0K |
Prepaid Expenses | $558.7K | ||
Receivables | $36.17K | $36.17K | $4.410K |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $5.112M | $5.112M | $6.189M |
YoY Change | -17.4% | -17.4% | -13.42% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $14.91M | $14.91M | $14.81M |
YoY Change | 0.66% | 0.66% | 7.28% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $20.91K | $20.91K | $23.09K |
YoY Change | -9.45% | -9.44% | 44.58% |
Total Long-Term Assets | $14.98M | $14.98M | $14.91M |
YoY Change | 0.46% | 0.46% | 7.81% |
TOTAL ASSETS | |||
Total Short-Term Assets | $5.112M | $5.112M | $6.189M |
Total Long-Term Assets | $14.98M | $14.98M | $14.91M |
Total Assets | $20.10M | $20.10M | $21.10M |
YoY Change | -4.78% | -4.78% | 0.58% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $79.35K | $79.35K | $267.6K |
YoY Change | -70.34% | -70.34% | 20.85% |
Accrued Expenses | $427.8K | $427.8K | $328.0K |
YoY Change | 30.45% | 30.45% | 13.47% |
Deferred Revenue | $143.5K | ||
YoY Change | -25.99% | ||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $767.7K | $767.7K | $732.8K |
YoY Change | 4.76% | 4.76% | 4.76% |
Total Short-Term Liabilities | $1.418M | $1.418M | $1.522M |
YoY Change | -6.82% | -6.82% | 4.82% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $3.460M | $3.460M | $4.227M |
YoY Change | -18.16% | -18.16% | -14.77% |
Other Long-Term Liabilities | |||
YoY Change | |||
Total Long-Term Liabilities | $3.460M | $3.460M | $4.227M |
YoY Change | -18.16% | -18.16% | -14.77% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $1.418M | $1.418M | $1.522M |
Total Long-Term Liabilities | $3.460M | $3.460M | $4.227M |
Total Liabilities | $5.111M | $5.111M | $5.750M |
YoY Change | -11.12% | -11.12% | -10.34% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $9.807M | ||
YoY Change | -4.7% | ||
Common Stock | $75.52K | ||
YoY Change | 0.39% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $14.99M | $14.99M | $15.35M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $20.10M | $20.10M | $21.10M |
YoY Change | -4.78% | -4.78% | 0.58% |
Cashflow Statement
Concept | 2023 Q4 | 2023 | 2022 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $3.330K | -$483.7K | $727.5K |
YoY Change | -99.31% | -166.49% | -74.0% |
Depreciation, Depletion And Amortization | $235.7K | $866.0K | $766.9K |
YoY Change | 15.11% | 12.92% | 8.93% |
Cash From Operating Activities | $1.446M | $927.5K | $1.541M |
YoY Change | 93.3% | -39.8% | -53.43% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $31.39K | $1.558M | $1.839M |
YoY Change | -108.93% | -15.31% | -286.0% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$4.670K | -$4.670K | -$17.45K |
YoY Change | -89.76% | -73.24% | -160.21% |
Cash From Investing Activities | -$36.06K | -$1.563M | -$1.857M |
YoY Change | -90.92% | -15.85% | 93.44% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | -187.4K | -$738.6K | -$866.2K |
YoY Change | 4.78% | -14.73% | -27.83% |
NET CHANGE | |||
Cash From Operating Activities | 1.446M | $927.5K | $1.541M |
Cash From Investing Activities | -36.06K | -$1.563M | -$1.857M |
Cash From Financing Activities | -187.4K | -$738.6K | -$866.2K |
Net Change In Cash | 1.223M | -$1.374M | -$1.182M |
YoY Change | 609.98% | 16.18% | -202.93% |
FREE CASH FLOW | |||
Cash From Operating Activities | $1.446M | $927.5K | $1.541M |
Capital Expenditures | $31.39K | $1.558M | $1.839M |
Free Cash Flow | $1.415M | -$630.4K | -$298.7K |
YoY Change | 28.67% | 111.06% | -106.95% |
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WeightedAverageNumberOfDilutedSharesOutstanding
|
75186 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14569552 | usd |
CY2022 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
56903 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
727491 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
15353946 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
15353946 | usd |
CY2023 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
290705 | shares |
CY2023 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
115000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-483738 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14985208 | usd |
CY2023Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14985208 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-483738 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
727491 | usd |
CY2023 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
884459 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
782987 | usd |
CY2022 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
154831 | usd |
CY2023 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
5888 | usd |
CY2022 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
5888 | usd |
CY2022 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
6032 | usd |
CY2023 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
131667 | usd |
CY2022 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
56903 | usd |
CY2023 | PRKA |
Deferred Tax Liabilitiy
DeferredTaxLiabilitiy
|
232329 | usd |
CY2023 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
275297 | usd |
CY2023 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-317146 | usd |
CY2022 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
6738 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
31767 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-64 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-122837 | usd |
CY2022 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
227883 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
387896 | usd |
CY2022 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
-4466 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-188215 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
46153 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
49471 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-9475 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
927478 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1540719 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1557844 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1839391 | usd |
CY2023 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
5466 | usd |
CY2022 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
32500 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
800 | usd |
CY2022 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
15053 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1562510 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1856838 | usd |
CY2022 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
160863 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-738617 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-866193 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1373649 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1182312 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5472036 | usd |
CY2021Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
6654348 | usd |
CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
4098387 | usd |
CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
5472036 | usd |
CY2023 | us-gaap |
Interest Paid Net
InterestPaidNet
|
217496 | usd |
CY2022 | us-gaap |
Interest Paid Net
InterestPaidNet
|
257009 | usd |
CY2023 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
125000 | usd |
CY2022 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
321000 | usd |
CY2022 | us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
464492 | usd |
CY2023 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<p id="xdx_800_eus-gaap--NatureOfOperations_zQzeh3DwXfz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1. <span id="xdx_821_z3991uIs0pR1">ORGANIZATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Parks! America, Inc. (“Parks!” or the “Company”) owns and operates through wholly owned subsidiaries three regional safari parks and is in the business of acquiring, developing and operating local and regional entertainment assets and attractions in the United States. The Company’s 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 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 Park”). Aggieland Wild Animal – Texas owns and operates the Aggieland Wild Animal Safari park near Bryan/College Station, Texas (the “Texas Park”). The Company acquired the Georgia Park on June 13, 2005, the Missouri Park on March 5, 2008, and the Texas Park on April 27, 2020.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company was originally incorporated on <span id="xdx_90D_edei--EntityIncorporationDateOfIncorporation_c20221003__20231001_z0VnFRvRz1n5" title="Date of incorporation">July 30, 1954</span> as Painted Desert Uranium & Oil Co., Inc. in Washington State. On October 1, 2002, Painted Desert Uranium & Oil Co., Inc. changed its name to Royal Pacific Resources, Inc. and its corporate domicile to the State of <span id="xdx_90E_edei--EntityIncorporationStateCountryCode_c20221003__20231001_zNBgOxU62hqg" title="Incorporation state code">Nevada</span>. On December 19, 2003, Royal Pacific Resources, Inc. acquired the assets of Great Western Parks LLC pursuant to a Share Exchange Agreement that resulted in the Company assuming control and changing the corporate name 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. On June 11, 2008, the Company changed its name from Great American Family Parks, Inc. to Parks! America, Inc.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s 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 park revenues were 60.4% and 62.1% of annual park revenues for the Company’s 2023 and 2022 fiscal years, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023 | dei |
Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
|
1954-07-30 | |
CY2023 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
NV | |
CY2022 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
16128 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-572421 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1030291 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_844_eus-gaap--UseOfEstimates_z2u7RRYgsxDk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_863_zxpAO717ErP3">Estimates and Assumptions</span>: </i></b>Management uses estimates and assumptions in preparing financial statements in accordance with GAAP. Those estimates and assumptions affect the reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were assumed in preparing these financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023 | us-gaap |
Fiscal Period
FiscalPeriod
|
<p id="xdx_84C_eus-gaap--FiscalPeriod_zcgib6Aa68zl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zwITATb173ah">Fiscal Year End</span>: </i></b>The Company’s fiscal year-end is the Sunday closest to September 30, and its quarterly close dates are also determined by the Sunday closest to the end of each quarterly reporting period. For the 2023 fiscal year, October 1 was the closest Sunday, and for the 2022 fiscal year, October 2 was the closest Sunday. This fiscal calendar aligns the Company’s fiscal periods closely with the seasonality of its business. The high season typically ends after the Labor Day holiday weekend. The period from October through early March is geared towards maintenance and preparation for the next busy season, which typically begins in the latter half of March through early September.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zfR8O4jM4d84" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_z3xhYak4Bwob">Financial and Concentrations Risk</span>: </i></b>The Company does not have any concentration or related financial credit risks. The Company maintains its cash in bank deposit accounts, which at times may exceed federally insured limits.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>PARKS! AMERICA, INC. and SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">October 1, 2023</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> | |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
232329 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-88683 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
302800 | usd |
CY2023Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
36172 | usd |
CY2022Q4 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
4405 | usd |
CY2023Q4 | us-gaap |
Inventory Net
InventoryNet
|
419149 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
541986 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
558678 | usd |
CY2022Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
170782 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
20165006 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
19554966 | usd |
CY2023Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
5254909 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
4743224 | usd |
CY2023Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
14910097 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
14811742 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
865969 | usd |
CY2022 | us-gaap |
Depreciation
Depreciation
|
766859 | usd |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
18490 | usd |
CY2023Q4 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
177868 | usd |
CY2022Q4 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
122265 | usd |
CY2023Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
143511 | usd |
CY2022Q4 | us-gaap |
Deferred Revenue
DeferredRevenue
|
193912 | usd |
CY2023Q4 | PRKA |
Accrued Sales Taxes Current
AccruedSalesTaxesCurrent
|
46718 | usd |
CY2022Q4 | PRKA |
Accrued Sales Taxes Current
AccruedSalesTaxesCurrent
|
49123 | usd |
CY2023Q4 | PRKA |
Accrued Property Taxes
AccruedPropertyTaxes
|
49183 | usd |
CY2022Q4 | PRKA |
Accrued Property Taxes
AccruedPropertyTaxes
|
46814 | usd |
CY2023Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
154063 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
109758 | usd |
CY2023Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
571343 | usd |
CY2022Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
521872 | usd |
CY2023Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
143511 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
193912 | usd |
CY2022Q3 | us-gaap |
Litigation Settlement Expense
LitigationSettlementExpense
|
100000 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
9440248 | usd |
CY2022 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
10741417 | usd |
CY2023 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
9440248 | usd |
CY2023 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
1084376 | usd |
CY2022 | us-gaap |
Marketing And Advertising Expense
MarketingAndAdvertisingExpense
|
1238618 | usd |
CY2022 | us-gaap |
Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
|
154831 | usd |
CY2022 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
6032 | usd |
CY2005Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
5000000 | shares |
CY2023Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
|
0 | shares |
CY2022 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
10741417 | usd |
CY2023 | PRKA |
Tornado Expenses And Writeoffs
TornadoExpensesAndWriteoffs
|
-368955 | usd |
CY2023Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.10 | pure |
CY2023Q1 | us-gaap |
Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
|
0.15 | pure |
CY2023 | us-gaap |
Unusual Or Infrequent Item Loss Gross
UnusualOrInfrequentItemLossGross
|
780941 | usd |
CY2023 | PRKA |
Unusual Or Infrequent Item Loss Assets Write Off
UnusualOrInfrequentItemLossAssetsWriteOff
|
275297 | usd |
CY2023Q4 | us-gaap |
Investments
Investments
|
615000 | usd |
CY2023 | us-gaap |
Unusual Or Infrequent Item Insurance Proceeds
UnusualOrInfrequentItemInsuranceProceeds
|
687283 | usd |
CY2023 | PRKA |
Increase Decrease In Expected Insurance
IncreaseDecreaseInExpectedInsurance
|
50000 | usd |
CY2023 | us-gaap |
Interest Expense
InterestExpense
|
222396 | usd |
CY2022 | us-gaap |
Interest Expense
InterestExpense
|
261621 | usd |
CY2023 | PRKA |
Interest Expense Debt Financing Cost Amortization
InterestExpenseDebtFinancingCostAmortization
|
5888 | usd |
CY2022 | PRKA |
Interest Expense Debt Financing Cost Amortization
InterestExpenseDebtFinancingCostAmortization
|
5888 | usd |
CY2022 | us-gaap |
Finance Lease Interest Expense
FinanceLeaseInterestExpense
|
6032 | usd |
CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
4271521 | usd |
CY2022Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
5010136 | usd |
CY2023Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
44030 | usd |
CY2022Q4 | us-gaap |
Deferred Finance Costs Net
DeferredFinanceCostsNet
|
49915 | usd |
CY2023Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
4227491 | usd |
CY2022Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
4960221 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
767675 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
732779 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
3459816 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
4227442 | usd |
CY2022 | us-gaap |
Legal Fees
LegalFees
|
100000 | usd |
CY2023 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
80230 | usd |
CY2022 | us-gaap |
Other Nonoperating Income
OtherNonoperatingIncome
|
91276 | usd |
CY2023 | us-gaap |
Interest Expense
InterestExpense
|
222396 | usd |
CY2022 | us-gaap |
Interest Expense
InterestExpense
|
261621 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
|
773561 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
|
810136 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
|
848472 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
|
888654 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
850954 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
|
99744 | usd |
CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
4271521 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
|
On February 2, 2023, the Company declared its annual compensation award to seven directors for their service on the Board of Directors. Seven directors were awarded $10,000 each and three directors received a total of $10,000 for serving as committee chairpersons and as a non-employee officer, with such compensation to be paid all in shares of the Company’s common stock, all in cash or a combination thereof, at each director’s election. Five directors elected to receive all shares, one director elected to receive 60% in shares and 40% in cash, and one director elected all cash. Based on the closing stock price of $0.40 per share on February 2, 2023, a total of 162,500 shares were issued on March 9, 2023. The total compensation award cost of $80,000 was reported as an expense in the three month period ended April 2, 2023 | |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
16667 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-572421 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1030000.00 | usd |
CY2023 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
-196871 | usd |
CY2022 | us-gaap |
Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
|
198400 | usd |
CY2023 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
-124141 | usd |
CY2022 | us-gaap |
Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
|
104400 | usd |
CY2023 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
-321012 | usd |
CY2022 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
302800 | usd |
CY2023 | us-gaap |
Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
|
68106 | usd |
CY2023 | us-gaap |
Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
|
164223 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
-0.055 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
|
0.084 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
|
-0.004 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
|
0.004 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.155 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.294 | pure |
CY2023Q4 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
1336696 | usd |
CY2023Q4 | PRKA |
Deferred Tax Assets Accrued Liabilities
DeferredTaxAssetsAccruedLiabilities
|
5109 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
|
1457959 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
|
6879 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
109296 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Liabilities
DeferredTaxLiabilities
|
232329 | usd |
CY2023Q4 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
109296 | usd |
CY2023Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
3460000 | usd |
CY2023 | us-gaap |
Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
|
0 | usd |
CY2022 | us-gaap |
Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
|
0 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-572421 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1030291 | usd |
CY2023 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
884459 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
782987 | usd |
CY2023 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
884459 | usd |
CY2022 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
782987 | usd |
CY2023 | us-gaap |
Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
|
1557844 | usd |
CY2022 | us-gaap |
Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
|
1839391 | usd |
CY2023 | us-gaap |
Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
|
1557844 | usd |
CY2022 | us-gaap |
Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
|
1839391 | usd |
CY2023Q4 | us-gaap |
Assets
Assets
|
20095723 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
21103606 | usd |
CY2023Q4 | us-gaap |
Assets
Assets
|
20095723 | usd |
CY2022Q4 | us-gaap |
Assets
Assets
|
21103606 | usd |
CY2023Q4 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
3830000 | usd |
CY2022Q4 | us-gaap |
Long Term Debt Fair Value
LongTermDebtFairValue
|
4610000 | usd |