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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Parks America Inc (PK) | USOTC:PRKA | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 2.38% | 0.43 | 0.4084 | 0.429 | 0.43 | 0.42 | 0.42 | 12,400 | 16:48:53 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) | Commission File Number |
(Exact name of registrant as specified in its charter)
(State
or other jurisdiction of incorporation or organization) |
(I.R.S. Employer Identification Number) |
(Address of Principal Executive Offices) (Zip Code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(g) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
OTCPink |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Director
On July 18, 2024, Lisa Brady, a member of the Board of Directors (the “Board”), notified Parks! America, Inc. (the “Company”) of her resignation from the Board effective immediately. In her resignation letter to the Board, Ms. Brady cited significant concerns about strategic decisions made by the Board, including certain hirings made by the Board, and the potential long-term impact of those decisions on the Company, as well as concerns regarding the risk of breach of fiduciary duties by the Board, as described in greater detail in Exhibit 17.1.
Ms. Brady has served on the Company’s Board since November 2021 and was its President and CEO from November 14, 2022 until June 14, 2024. The Board thanks Ms. Brady for her service to the Company and wishes her the best in her future endeavors.
A copy of Ms. Brady’s resignation letter to the Board is included as Exhibit 17.1 to this Form 8-K. and the description of the resignation letter contained herein is qualified in its entirety by reference to the full text of the resignation letter which is incorporated by reference into this Item 5.02.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No. | Description | |
17.1 | Letter of Resignation, dated July 18, 2024, from Lisa Brady to the Parks! America, Inc. Board of Directors | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 22, 2024
PARKS! AMERICA, INC. | ||
By: | /s/ Todd R. White | |
Name: | Todd R. White | |
Title: | Chief Financial Officer |
3 |
Exhibit 17.1
Lisa Brady
1007 Dockway Drive
Huron, OH 44839
lisa@lakeerieadventure.com
216.402.3685
July 18, 2024
Board of Directors
Parks America
1300 Oak Grove Road
Pine Mountain, GA 31822
Dear Members of the Board,
I am writing to formally resign from my position on the Parks! America Board of Directors, effective immediately.
This decision has not been made lightly, as it has been a privilege to serve on this board and to contribute to our shared mission. However, I find myself extremely at odds with the current direction in which the recently appointed board is headed. Specifically, I have significant concerns about the strategic decisions being made and their potential long-term impact on the organization. The first two decisions made by this board resulted in the placement of two highly unqualified individuals stepping into key positions within the organization without any interview process, vetting or qualification.
Moreover, I am deeply worried about the risk of a breach of fiduciary duty. I believe that some recent decisions and actions taken by the board are not in alignment with the best interests of our stakeholders. As a fiduciary, it is my responsibility to act in the best interests of the company and its shareholders, and I feel that I can no longer fulfill this duty in good conscience given the current trajectory.
I hope that my resignation will prompt a careful review of the board’s strategic direction and decision-making processes. It is my sincere hope that Parks America will continue to thrive and uphold the values and responsibilities we all hold dear.
Thank you for the opportunity to serve on the board. I have valued the experience and the relationships formed during my tenure on the board and with the company.
Sincerely,
Lisa Brady
Cover |
Jul. 18, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jul. 18, 2024 |
Entity File Number | 000-51254 |
Entity Registrant Name | PARKS! AMERICA, INC. |
Entity Central Index Key | 0001297937 |
Entity Tax Identification Number | 91-0626756 |
Entity Incorporation, State or Country Code | NV |
Entity Address, Address Line One | 1300 Oak Grove Road |
Entity Address, City or Town | Pine Mountain |
Entity Address, State or Province | GA |
Entity Address, Postal Zip Code | 31822 |
City Area Code | (706) |
Local Phone Number | 663-8744 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock |
Trading Symbol | PRKA |
1 Year Parks America (PK) Chart |
1 Month Parks America (PK) Chart |
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