SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES |
12 Months Ended |
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Sep. 28, 2025 | |
| Related Party Transactions [Abstract] | |
| SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES | NOTE 8. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES
Loan Guarantee by Focused Compounding
The 2025 Term Loan with Cendera Bank is secured by substantially all the assets of Aggieland-Parks, Inc., as well as a cash collateral reserve of $2.5 million established by Focused Compounding. See Note 5, Long Term Debt for additional information regarding the 2025 Term Loan. As of September 28, 2025, Focused Compounding owned 41.27% of the outstanding common stock of the Company. Focused Compounding is controlled by Geoffrey Gannon and Andrew Kuhn, who are each on the Company’s Board of Directors and Mr. Gannon serves as the Company’s President.
Land Sale
On September 4, 2025, Wild Animal – Georgia sold approximately 50 acres of land not used in the park operations to a management employee of the Georgia Park. The real estate purchase agreement provided for arms-length terms and conditions, as well as a condition that the land will be used for a single-family residence and the purchaser will not operate any business on the property that would compete with the operations of the Company. The Company recognized a gain on the sale in the amount of $15,774. The gain is included within Other operating expenses, net in the accompanying Consolidated Statement of Operations.
PARKS! AMERICA, INC. and SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS September 28, 2025
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