Annual report
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Exhibit 99.1 Parks! America, Inc. Reports Fiscal Year 2024 Financial Results Management to host conference call on Monday, December 16, 2024, at 4:30 PM ET PINE MOUNTAIN, Georgia, December 13, 2024 — Parks! America, Inc. (OTCPink: PRKA), today announced its financial results for fiscal year 2024 ended September 29, 2024. The summary information in this press release should not be used as the sole basis for making investment decisions. We encourage shareholders to read our complete Annual Report on Form 10-K, which has been posted on the Company's website animalsafari.com/investor-relations, for a complete view of the Company and its results. Fiscal Year 2024 Segment Financial Results The Company manages its operations on an individual location basis. Financial information regarding each of the Company’s reportable segments are summarized in the tables below. For the three months ended For the year ended September 29, 2024 October 1, 2023 September 29, 2024 October 1, 2023 Total revenues: Georgia $ 1,471,131 $ 1,770,394 $ 5,960,259 $ 5,873,526 Missouri 718,543 631,285 2,036,280 1,692,765 Texas 418,017 451,593 1,915,721 1,873,957 Consolidated $ 2,607,691 $ 2,853,272 $ 9,912,260 $ 9,440,248 Income (loss) before income taxes: Georgia $ 570,862 $ 689,362 $ 2,294,879 $ 2,054,001 Missouri 290,333 227,281 457,219 257,379 Texas (29,216) 8,349 72,921 27,577 Segment EBITDA 831,979 924,992 2,825,019 2,338,957 Corporate expenses (300,274) (269,691) (1,211,764) (1,198,652) Depreciation and amortization 199,319 235,702 871,967 884,459 Loss on asset disposals, net 26,980 286,562 62,734 317,146 Contested proxy and related matters, net 2,988 - 2,040,810 - Tornado expenses and write-offs, net - 5,359 (53,755) 368,955 Legal settlement - - 75,000 - Other income, net 31,623 15,522 132,948 80,230 Interest expense (81,729) (52,657) (229,244) (222,396) Consolidated $ 252,312 $ 90,543 $ (1,479,797) $ (572,421) For the year ended September 29, 2024 October 1, 2023 Depreciation and amortization: Georgia $ 357,522 $ 324,252 Missouri 231,734 275,533 Texas 281,055 283,020 Corporate 1,656 1,654 Consolidated $ 871,967 $ 884,459 Capital expenditures: Georgia $ 593,515 $ 1,208,762 Missouri 100,428 134,987 Texas 213,012 214,095 Consolidated $ 906,955 $ 1,557,844
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As of September 29, 2024 October 1, 2023 Total assets: Georgia $ 7,520,918 $ 8,519,619 Missouri 3,399,324 3,335,794 Texas 7,812,661 7,698,400 Corporate 461,168 541,910 Consolidated $ 19,194,071 $ 20,095,723 Total cash & short-term investments: Georgia $ 1,800,623 $ 3,047,188 Missouri 870,918 671,423 Texas 570,122 312,563 Corporate 82,705 67,213 Consolidated $ 3,324,368 $ 4,098,387 Asset less cash & short-term investments: Georgia $ 5,720,295 $ 5,472,431 Missouri 2,528,406 2,664,371 Texas 7,242,539 7,385,837 Corporate 378,463 474,697 Consolidated $ 15,869,703 $ 15,997,336 Conference Call and Webcast Details The Company will host a conference call to review its fiscal year 2024 results on Monday, December 16, 2024, at 4:30 pm ET. The conference call will be webcast and can be accessed on the Company’s website, animalsafari.com/investor-relations. All participants on the conference call will be invited to ask a question. You may also email your question to ralph@parksamerica.com prior to the call. A transcript of the call will be available on the Company’s website. About Parks! America, Inc. Parks! America, Inc. (OTCPink: PRKA), through our wholly owned subsidiaries, owns and operates three regional safari parks and is in the business of acquiring, developing and operating local and regional entertainment assets in the United States. Additional information, including our Annual Report on Form 10-K for the fiscal year ended September 29, 2024, is available on the Company’s website, animalsafari.com/investor-relations. Cautionary Note Regarding Forward Looking Statements This news release may contain “forward-looking statements” within the meaning of U.S. securities laws. Forward-looking statements include statements concerning our future plans, business strategy, liquidity, capital expenditures, sources of revenue and other similar statements that are not historical in nature. You are cautioned not to place undue reliance on these forward-looking statements, which are based on our expectations as of the date of this news release and speak only as of the date hereof. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ significantly from those expressed or implied by such forward-looking statements. Readers are advised to consider the factors listed under the heading “Risk Factors” and the other information contained in the Company’s Annual Report on Form 10-K and other reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. Contact: Ralph Molina Head of Investor Relations and Corporate Strategy (706) 940-2209