Parks! America Files Proxy Materials

TL;DR

Parks! America (PARK) filed proxy docs, likely for shareholder votes. No fee paid.

AI Summary

Parks! America, Inc. filed a DEFA14A on May 21, 2024, related to a press release issued on May 20, 2024. The filing is a definitive additional material and indicates no fee was required for this filing. The company is incorporated in Nevada and its principal business address is in Pine Mountain, Georgia.

Why It Matters

This filing indicates that Parks! America, Inc. is providing additional materials to shareholders, likely related to upcoming corporate actions or decisions requiring shareholder input.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement update and does not inherently indicate significant financial or operational risk.

Key Players & Entities

• PARKS AMERICA, INC (company) — Registrant
• 0001493152-24-020820.txt (document) — Filing document name
• 20240521 (date) — Filing date
• 1300 OAK GROVE RD (address) — Business and mailing address
• PINE MOUNTAIN (city) — Business and mailing city
• GA (state) — Business and mailing state
• 31822 (zip_code) — Business and mailing zip code
• 706-663-8744 (phone_number) — Business phone number
• GREAT AMERICAN FAMILY PARKS INC (company) — Former company name
• 20040721 (date) — Date of name change

FAQ

Filing Documents

• formdefa14a.htm (DEFA14A) — 61KB
• 0001493152-24-020820.txt ( ) — 63KB

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 May 20, 2024, Parks! America, Inc. (the “Company”) issued the below press release: Parks! America Issues Open Letter to Shareholders, “Your Choice is Now Clear” PINE MOUNTAIN, Georgia – May 20, 2024 -- Parks! America, Inc. (OTCPink: PRKA) (“Parks! America” or the “Company” ), a leading operator of regional safari parks in the United States, today issued an open letter to the Company’s shareholders outlining the clear choice hanging in the balance at its annual meeting of shareholders scheduled for June 6, 2024. Dear Parks! America Shareholders, After five months of wasting your time and damaging Parks! America by causing the diversion of money and management time, on May 8 th the principals of Focused Compounding (“FC”) finally revealed their real “plan”: to liquidate the assets of the Company. It is difficult to tell if this was their plan all along or just another attempt at deploying business management buzzwords to further their dream of conducting a proxy fight with a public company, apparently to provide additional material for their podcast. We believe FC’s plan is disingenuous at best and frankly dangerous for shareholder value at worst, all to take control of the assets of Parks! America and to sell them off, in what we believe will be a fire sale. While FC may believe running an actual business is simply following examples in books they have read, we do not believe this course of action is in the best interests of the Parks! America shareholder base. During negotiations throughout this proxy contest, Parks! America has offered FC up to three of the seven seats that comprise the Board, with the goal of accelerating the conclusion to this needless and wasteful proxy contest. Unfortunately, FC has refused all such offers. Our belief is that FC seeks control to further their own interests and not the best interests of all Parks! America shareholders. Worse yet, their lack of experience in running a complex business such as Parks! America and managing the ongoing public-company / SEC regulatory process, makes them, from our perspective, an exceptionally undesirable operating team. They are focused on wresting control of the Company in any way possible without the experience and skill sets to succeed. A quick overview of the key events of the past four years is in order: Timeline January 2020 : FC acquires 17.5% of Parks! America shares. In a letter to the Board, FC states: “We’re long-term investors, not short-term agitators” and “There’s literally nothing we could tell you about how to run a successful animal safari that you don’t already know. And we wouldn’t try”. February – May 2022 : The Board attempts to develop a mutually agreed upon succession plan with then President and CEO, Dale Van Voorhis, who was 81 years old at the time. Initially Mr. Van Voorhis refused to work on any succession plan and reached out to FC to enlist their assistance in entrenching himself. Eventually, Mr. Van Voorhis agrees to accept a renewed two-year contract including the transition to a new President and CEO. November 2022 : After an extensive search, Lisa Brady accepted the Company’s offer to take on the role of President and CEO. March 2023 : An EF3 category tornado devastates the Company’s Georgia park right at the beginning of our busiest period of the fiscal year. After clearing over 4,500 felled and damaged trees, replacing and repairing miles of damaged fencing, fixing numerous broken water lines and erecting a new giraffe barn, this park reopens in just 20 days. May 2023 : FC reaches out to Ms. Brady expressing some of its frustrations with various aspects of Parks! America. As part of subsequent discussions with FC, Ms. Brady commits to holding an annual meeting of stockholders in early 2024, after the Company files its Form 10-K in December 2023. This is the typical sequence for public companies. October 2023 : As then Chairman of the Board of Directors, Mr. Van Voorhis expresses his belief the Company still did not need to go through the

View Full Filing

View this DEFA14A filing on SEC EDGAR