OTC: PRKA

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“GAAP”
– Accounting principles generally accepted in the United States.

●
“Reverse/Forward Stock Split” –
1-for-500 reverse stock split immediately followed by 5-for-1 forward stock split effective on April 30, 2025.

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“Second
Quarter 2025” – The 13 weeks
ended March 30, 2025.

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“SEC”
– The United States Securities and Exchange Commission.

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“Third
Quarter 2025” – The 13 weeks ended June 29, 2025.

Overview

Parks!
America, Inc. owns and operates three regional safari parks and is in the business of acquiring, developing and operating local and regional
entertainment assets and attractions in the United States. The Company’s wholly owned subsidiaries are Wild Animal Safari, Inc.,
a Georgia corporation (“Wild Animal – Georgia”) acquired on June 13,2005, Wild Animal, Inc., a Missouri corporation
(“Wild Animal – Missouri”) acquired on March 5, 2008, and Aggieland-Parks, Inc., a Texas corporation (“Aggieland
Wild Animal – Texas”) acquired on April 27, 2020.

Wild
Animal – Georgia owns and operates a 500-acre safari park located in Pine Mountain, Georgia (the “Georgia Park”). Wild
Animal – Missouri owns and operates a 255-acre safari park located in Strafford, Missouri (the “Missouri Park”). Aggieland
Wild Animal – Texas owns and operates a 450-acre safari park located near Bryan/College Station, Texas (the “Texas Park”).

Each
of the parks is overseen by a general manager and operates autonomously. Management reviews operating results, evaluates performance
and makes operating decisions, including allocating resources, on a park-by-park basis. Discrete financial information and operating
results are prepared at the individual park level for use by the President and CEO, who is the Chief Operating Decision Maker
(“CODM”).

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We
identify our operating segments to be the individual parks: Georgia Park, Missouri Park and Texas Park. We have determined that each
of our operating segments share similar economic and other qualitative characteristics, but quantitative measures require the results
of our operating segments to be reported as three reportable segments.

Each of our three parks are located
rural areas. The parks are local attractions in that guests usually drive less than one hour out of their way to visit us. Park guests
tend to be residents living within 100 miles of our parks, tourists staying within 100 miles of our parks and tourists driving on a road
near our parks. Park guests are groups, almost never individuals and most often families, who seek away-from-home entertainment within
driving distance. Management does not believe we compete with in-home entertainment or solo activities and therefore, the market is away-from-home
activity seekers within driving distance of our parks. Nearby attractions can be either “complements” to our parks or “substitutes”
for our parks. Nearby attractions (such as Callaway Gardens and Great Wolf Lodge near our Georgia Park) increase our attendance
because some guests of those attractions visit our parks as part of the same trip.

Wild
Animal Safari, Inc. – Georgia Park

On
June 13, 2005, Wild Animal – Georgia acquired our Georgia Park. Our Georgia Park is situated in Pine Mountain, Georgia within a
200-acre portion of a 500-acre property, located approximately 75 miles southwest of Atlanta. Our Georgia Park features a three-mile
drive-through animal viewing area that opened in 1991. It is home to approximately 600 animals, birds and reptiles, comprised of approximately
55 species. Most of the animals roam wild in a natural habitat. Visitors can observe, photograph and feed the animals along the paved
road that runs through the drive-through section of our Georgia Park’s natural habitat area. Some animals are contained in special
fenced-in exhibit areas within the drive-through section of our Georgia Park, while others are in a more traditional zoo-like walk through
section of the park, the walkabout adventure zoo.

Wild
Animal, Inc. – Missouri Park

On
March 5, 2008, Wild Animal – Missouri acquired our Missouri Park. Our Missouri Park is situated in Strafford, Missouri on 255 acres
of land, located approximately 15 miles east of Springfield and approximately 45 miles northeast of Branson. Our Missouri Park features
a five-mile drive-through wild animal viewing area that opened in 1971. It is home to approximately 300 animals, birds and reptiles,
comprised of approximately 65 species. Most of the animals roam wild in a natural habitat. Visitors can observe, photograph and feed
the animals along the paved road that runs through the drive-through section of our Missouri Park’s natural habitat area. Some
animals are contained in special fenced-in exhibit areas within the drive-through section of our Missouri Park, while others are in a
more traditional zoo-like walk through section of the park, the walkabout adventure zoo.

Aggieland-Parks,
Inc. – Texas Park

On April 27, 2020, Aggieland
Wild Animal – Texas acquired our Texas Park. Our Texas Park is situated approximately 25 miles northeast of Bryan/College Station, Texas and 120
miles northwest of downtown Houston on 250 acres of a 450-acre property. Our Texas Park
features a two-and-a-half mile drive-thru safari and a 20-acre walkthrough adventure zoo that opened in 2019. It is
home to approximately 600 animals, comprised of approximately 80 species. Animals in the drive-through safari roam in an open
natural habitat where visitors can observe, photograph and feed the animals along a crushed-gravel road. In addition, some animals
are contained in special fenced-in exhibit areas within the drive-through portion of our Texas Park. The walkthrough adventure zoo
is home to a variety of species within more traditional zoo enclosures for guest viewing, and a select number of experience style
exhibits for guest engagement.

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All
Park Operations

Approximately
98% of our revenue is generated from guests who visit our parks and approximately 2% is derived from payments
made by buyers of our animals.

Park
revenues are derived primarily from admission fees, as well as sales of animal food, animal encounters, vehicle rentals,
gift shop and specialty item retail sales and food and beverage sales.

In
addition to the animal environments, each of our parks has a gift shop, a restaurant or concessions areas and picnic areas. We
sell food and beverages in our restaurant or concession areas, and a variety of items in our gift shops, including shirts, hats,
plush toys, educational books, toys and novelty items, many of which are animal themed.

Most
of the animals at each of our parks have been born on-site or domestically acquired. We rarely import animals and have not imported any
animals in the past 15 years. Auctions and sales of animals across the United States occur often and we may acquire animals in these
auctions if we see an opportunity to enhance the animal population at our parks. As a result of natural breeding, animal populations
at our parks tend to grow over time. Periodically, we sell surplus animals, and the proceeds are recorded as revenue. The periodic acquisition
and sale of animals is also part of our herd and genetic management program. From time-to-time, we may also relocate animals between
our parks as part of this program. Each park is subject to routine inspection by federal and state agencies. Each park maintains a high
standard of animal care and has passed all recent inspections.

Corporate
History

We
entered our current business in 2005 with the purchase of an animal attraction located in Pine Mountain, Georgia. In 2008, the
Company adopted its current name “Parks! America” and its current stock symbol “PRKA.” Parks! America is
domiciled in the state of Nevada and its headquarters is in Pine Mountain, Georgia.

Prior
to and on May 1, 2025, the Company’s common stock traded on the OTC Pink Market. Effective May 2, 2025, the Company’s
common stock began and continues to be traded on the OTCQX Market. As a result of the Reverse/Forward Stock Split, effective on
April 30, 2025, the Company’s common stock was traded on a post-split basis under the symbol “PRKAD” for 20
trading days, including the effective date, after which it reverted to “PRKA.”

Competition

The
Company competes for discretionary spending with all aspects of the recreation industry within its primary market areas, including other
destination and regional attractions. The Company also competes with other forms of entertainment and recreational activities, including
movies and sporting events, vacation travel and family entertainment centers. The principal competitive factors in the amusement park
industry include the uniqueness and perceived quality of the attractions in a particular park, proximity to metropolitan areas, the atmosphere
and cleanliness of the park, and the quality and variety of the entertainment available.

Seasonality

Our
parks are open year-round and we experience increased seasonal attendance, typically beginning in the latter half of March through
early September, and historically have realized a significant portion of our annual park revenue during our third and fourth fiscal
quarters. We generated approximately 64.0% and 61.4% of our annual park revenue in the third and fourth fiscal quarters of
Fiscal 2025 and Fiscal 2024, respectively.

Marketing
and Promotion

The
Company attracts its guests through multichannel marketing and promotional programs at each of the parks, which are designed to increase
market penetration. These programs are tailored to each market to maximize the impact of specific park attractions.

Human
Capital Management

We
employ approximately 50 full-time employees and an additional 50-75 part-time and/or seasonal employees. We have no collective bargaining
agreements with our employees and management believes it maintains good relations with our employees.

Available
Information

Our
website address is www.parksamerica.com. References to www.parksamerica.com do not constitute incorporation by
reference of the information at www.parksamerica.com, and such information is not part of this Annual Report on Form 10-K or
any other filings with the SEC, unless otherwise explicitly stated. We file our Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K, and all amendments to those reports, as well as proxy and information statements,
electronically with the SEC, and they are available on the SEC’s website at (www.sec.gov). We also make our
Annual Reports on Form 10-K, Quarterly Reports on 10-Q, Current Reports on Form 8-K and amendments to those reports available
through the Investor Relations section of our website, free of charge, as soon as reasonably practicable after we file such material
with, or furnish it to, the SEC.

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Our
Code of Conduct, Bylaws and Insider Trading Policy are available within the “Governance” section of website at www.parkasmerica.com

Information
about our Executive Officers

The
following table sets forth information regarding our executive officers.

Name
Age
Title

Geoffrey
Gannon
40
President
and Chief Executive Officer

Rebecca
McGraw
59
Chief
Financial Officer

Geoffrey
Gannon has served as a director of the Company since June 6, 2024, and as its President and Chief Executive Officer since June 14,
2024. Since 2020, Mr. Gannon is a Co-founder and Portfolio Manager of the Focused Compounding Fund (which owns 41.27% of our common stock)
and since 2018 is a Co-founder and Portfolio Manager of Focused Compounding Capital Management (which is the general partner of the Focused
Compounding Fund). From 2005 to 2018, Mr. Gannon was primarily
employed in writing at various sites and hosting various podcasts on value investing. He continues to do both. He has no relation
to John Gannon, who until February 29, 2024 was a director of the Company.

Rebecca
McGraw has served as the Chief Financial Officer of the Company since January 13, 2025. Prior to joining the Company, she served
at Lands’ End, Inc. from November 2020 to December 2024 as Assistant Controller – SEC Reporting and from November 1994
to September 2005 in various accounting and treasury managerial roles and from
October 2005 to October 2020 as Controller for the largest wholesale distributor of wine, distilled spirits, beer and non-alcoholic
beverages in the State of Wisconsin. She started her career in public accounting working for McGladrey and Pullen and is a Certified
Public Accountant.