Parks! America Files Proxy Soliciting Material

TL;DR

Parks! America (PARK) filed proxy docs - shareholder vote incoming?

AI Summary

Parks! America, Inc. filed a DEFA14A on March 27, 2024, related to soliciting material under Rule 14a-12. The company, formerly known as Great American Family Parks Inc., is based in Pine Mountain, GA, and operates in the amusement and recreation sector. This filing indicates ongoing corporate communications and potential shareholder engagement activities.

Why It Matters

This filing signals that Parks! America, Inc. is actively engaging in corporate communications that may influence shareholder decisions or proxy voting, impacting the company's governance and future direction.

Risk Assessment

Risk Level: low — The filing is a standard proxy statement, indicating routine corporate communication rather than a significant event like a merger or financial distress.

Key Players & Entities

• PARKS AMERICA, INC (company) — Registrant
• GREAT AMERICAN FAMILY PARKS INC (company) — Former Company Name
• 1300 OAK GROVE RD (location) — Business and Mailing Address
• PINE MOUNTAIN, GA (location) — City, State of Address
• 706-663-8744 (phone_number) — Business Phone
• 20240327 (date) — Filing Date

FAQ

Key Financial Figures

• $1.5 million — 23 annual report, 1 the fund has a mere $1.5 million dollars in assets under management. FC

Filing Documents

• formdefa14a.htm (DEFA14A) — 36KB
• formdefa14a_001.jpg (GRAPHIC) — 21KB
• 0001493152-24-011472.txt ( ) — 66KB

From the Filing

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A INFORMATION Proxy (Amendment No . ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 PARKS! AMERICA, INC. (Name of Registrant as Specified in its Charter) (Name Of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 On March 27, 2024, Parks! America, Inc. (the “Company”) issued the below press release: Parks! America, Inc. Cites Focused Compounding’s Principals’ Lack of Relevant Corporate Experience Stockholders Urged to Reject Costly and Distracting Proxy Contest PINE MOUNTAIN, Georgia – March 27, 2024 – Parks! America, Inc. (OTCPink: PRKA) (“Parks! America” or the “Company”), a leading operator of regional safari parks in the United States, today advised stockholders of its view that the dissident slate of directors offered by Focused Compounding Fund, L.P. is not qualified to operate Parks! America as a public company. Parks! America urges stockholders to vote for the Company’s slate of director candidates. The full text of the letter to stockholders follows. Dear Parks! America Stockholders: The slate of nominees proposed by Focused Compounding Fund, L.P. (“FC”) is not qualified to run Parks! America, Inc. (“Parks! America” or the “Company”). The nominees have no experience operating a wildlife safari entertainment company or similar enterprise, and they have no experience running a public company and all that is involved from an operational and a regulatory perspective. FC’s dissident slate of directors includes: Andrew Kuhn, age 27, an FC principal; Geoffrey Gannon, age 38, an FC principal; Jacob McDonough, age 31, founder and portfolio manager of McDonough Investments; and Ralph Molina, age 26, senior investor relations analyst at The Cheesecake Factory since January 2024. These individuals are not prepared by training, education or experience to run a public company. Their experience appears to be entirely as investment advisors and commentators. They have not worked in senior management positions in any corporate environment, much less at a publicly traded company. They have never confronted the challenges of operating or managing a public company, including developing a strategic plan, executing on such plan, dealing with strategic vendors, managing and overseeing the well-being of employees or satisfying the regulatory-reporting and corporate-governance requirements that come with running a public company. Nothing in their backgrounds to this point suggests their ability or qualification to run a public company. The two FC principals, Andrew Kuhn and Geoffrey Gannon, operate a small hedge fund – so small in fact that it is not even required to file quarterly regulatory reports. FC is exempt from reporting assets under management, return on its investments or past track record. While Mr. Kuhn and Mr. Gannon say they are effective investment advisors and stock traders, how can we know? They have not publicly disclosed their fund’s performance benchmarked against major indices. But even if they can show decent performance, they are investment advisors, stock traders and podcasters who have never occupied management positions at any public company, let alone senior management positions. Indeed, Mr. Kuhn and Mr. Gannon do not even have basic textbook training on how to manage a company. Both are high school graduates with no college or other advanced degrees. Jacob McDonough, age 31, is the founder and portfolio manager of McDonough Investments, which manages capital for clients as a registered investment advisor in a separately managed accounts structure. That firm was founded in June 2021, less than three years ago. McDonough Investments manages capital for clients as a registered investment adviser, much like FC says it does. According to McDonough Investments’ 2023 annual report, 1 the fund has a mere $1.5 million dollars in assets under management. FC touts Mr. McDonough as being “the guy who LITERALLY wrote the book on capital allocation” 2 ; however, it appears that Mr. McDonough may be more suited to writing about capital allocation than actually raising and allocating capital, as evidenced by the fact that McDonough Investments underperformed the S&P 500 by a cumulative 33% 3 over the last three years. 4 As with the FC principals, Mr. McDonough has never oc

View Full Filing

View this DEFA14A filing on SEC EDGAR