PARKS AMERICA INC
For the period ended Dec 29, 2024. Filed Feb 7, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 29, 2024 · Filed Feb 7, 2025
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Contents
Item 1. Unaudited Consolidated Financial Statements
| Consolidated Balance Sheets – December 29, 2024 and September 29, 2024 | 3 | |
| Consolidated Statements of Operations – three months ended December 29, 2024 and December 31, 2023 | 4 | |
| Consolidated Statement of Changes in Stockholders’ Equity – three months ended December 29, 2024 and December 31, 2023 | 5 | |
| Consolidated Statements of Cash Flows – three months ended December 29, 2024 and December 31, 2023 | 6 | |
| Notes to the Consolidated Financial Statements (Unaudited) | 7 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 16 |
|---|---|---|
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 22 |
| Item 4. | Controls and Procedures | 22 |
| PART II. OTHER INFORMATION: | ||
| Item 1. | Legal Proceedings | 23 |
| Item 1A. | Risk Factors | 23 |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 23 |
| Item 3. | Defaults Upon Senior Securities | 23 |
| Item 4. | Mine Safety Disclosures | 23 |
| Item 5. | Other Information | 23 |
| Item 6. | Exhibits | 24 |
| Signatures | 25 | |
CONSOLIDATED BALANCE SHEETS
As of December 29, 2024 (UNAUDITED) and September 29, 2024
| December 29, 2024 | September 29, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | $2,661,202 | $2,489,294 |
| Short-term investments | - | 835,074 |
| Accounts receivable | 41,326 | 63,784 |
| Inventory | 342,916 | 372,401 |
| Prepaid expenses | 332,758 | 396,308 |
| Total current assets | 3,378,202 | 4,156,861 |
| Property and equipment, net | 15,201,641 | 14,829,612 |
| Intangible assets, net | 30,008 | 33,011 |
| Deferred tax asset, net | 72,112 | 156,012 |
| Other assets | 18,575 | 18,575 |
| Total assets | $18,700,538 | $19,194,071 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Liabilities | ||
| Accounts payable | $664,926 | $1,281,966 |
| Other current liabilities | 429,264 | 466,155 |
| Current portion of long-term debt, net | 377,547 | 809,892 |
| Total current liabilities | 1,471,737 | 2,558,013 |
| Long-term debt, net | 3,087,533 | 2,687,831 |
| Total liabilities | 4,559,270 | 5,245,844 |
| Stockholders’ equity | ||
| Common stock, 300,000,000 shares authorized, par value $.001 per share; 75,726,851 and 75,726,851 shares issued and outstanding, respectively | 75,727 | 75,727 |
| Capital in excess of par | 5,159,762 | 5,159,762 |
| Retained earnings | 8,905,779 | 8,712,738 |
| Total stockholders’ equity | 14,141,268 | 13,948,227 |
| Total liabilities and stockholders’ equity | $18,700,538 | $19,194,071 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.