Parks! America, Inc. Enters and Terminates Agreements
Ticker: PRKA · Form: 8-K · Filed: Oct 4, 2024 · CIK: 1297937
| Field | Detail |
|---|---|
| Company | Parks America, Inc (PRKA) |
| Form Type | 8-K |
| Filed Date | Oct 4, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $2.5 million, $23,200, $56,500, $2.5 million, $2.39 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, termination, financial-statements
TL;DR
Parks! America just signed and axed a deal, filing 8-K today.
AI Summary
On September 30, 2024, Parks! America, Inc. entered into a Material Definitive Agreement and also terminated a Material Definitive Agreement. The filing includes financial statements and exhibits related to these events. The company is incorporated in Nevada and its principal executive offices are located at 1300 Oak Grove Road, Pine Mountain, GA.
Why It Matters
This filing indicates significant changes in Parks! America, Inc.'s contractual relationships, which could impact its operations and financial standing.
Risk Assessment
Risk Level: medium — The simultaneous entry into and termination of material definitive agreements suggests potential instability or significant strategic shifts within the company.
Key Players & Entities
- Parks! America, Inc. (company) — Registrant
- September 30, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of incorporation
- 1300 Oak Grove Road, Pine Mountain, GA 31822 (address) — Principal Executive Offices
FAQ
What was the nature of the Material Definitive Agreement entered into by Parks! America, Inc. on September 30, 2024?
The filing does not specify the details of the Material Definitive Agreement entered into on September 30, 2024, only that it occurred.
What was the reason for the termination of the Material Definitive Agreement by Parks! America, Inc. on September 30, 2024?
The filing does not provide the reason for the termination of the Material Definitive Agreement on September 30, 2024.
Are the entered and terminated agreements related to each other?
The filing does not explicitly state whether the agreement entered into and the agreement terminated on September 30, 2024, are related.
What financial statements or exhibits are included with this 8-K filing?
The filing indicates that financial statements and exhibits are included, but their specific content is not detailed in the provided text.
When was Parks! America, Inc. incorporated?
Parks! America, Inc. was incorporated in Nevada.
Filing Stats: 642 words · 3 min read · ~2 pages · Grade level 8 · Accepted 2024-10-04 17:30:24
Key Financial Figures
- $2.5 million — oan in the original principal amount of $2.5 million (the "2024 Term Loan"). The 2024 Term L
- $23,200 — monthly loan payment is estimated to be $23,200. AWAS paid approximately $56,500 in fee
- $56,500 — to be $23,200. AWAS paid approximately $56,500 in fees and expenses in connection with
- $2.5 million — as well as a cash collateral reserve of $2.5 million established by Focus Compounding Fund,
- $2.39 million — nding principal and interest balance of $2.39 million prior to the pay off on September 30, 2
- $5.0 m — oan had an initial principal balance of $5.0 million, bore an interest at a rate of 5.
- $53,213 — 2031, and required monthly payments of $53,213. The 2020 Term Loan was secured by subs
Filing Documents
- form8-k.htm (8-K) — 39KB
- ex10-1.htm (EX-10.1) — 362KB
- ex10-2.htm (EX-10.2) — 81KB
- ex10-3.htm (EX-10.3) — 220KB
- 0001493152-24-039587.txt ( ) — 1018KB
- prka-20240930.xsd (EX-101.SCH) — 3KB
- prka-20240930_lab.xml (EX-101.LAB) — 33KB
- prka-20240930_pre.xml (EX-101.PRE) — 24KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 4, 2024 PARKS! AMERICA, INC. By: /s/ Todd R. White Name: Todd R. White Title: Chief Financial Officer 3