false FY 0001297937

 2025-03-31

 2025-12-09

 2025-06-30

 PRKA:ParkMember

 PRKA:ParkMember

 PRKA:AnimalsMember

 PRKA:AnimalsMember

 2023-10-01

 2023-10-01

 2023-10-01

 2023-10-01

 PRKA:TwoThousandTwentyTermLoanOneMember

 PRKA:TwoThousandTwentyTermLoanOneMember

 PRKA:TwoThousandTwentyFiveTermLoanFeesMember

 PRKA:TwoThousandTwentyFiveTermLoanFeesMember

 us-gaap: OperatingSegmentsMember

 us-gaap: OperatingSegmentsMember

 PRKA:DirectorsAndOfficersMember

 PRKA:FocusedCompoundingFundLPMember
 us-gaap: RelatedPartyMember

 2025-09-04

 us-gaap: LandMember

 us-gaap: LandMember

 us-gaap: LandMember

 PRKA:MineralRightsMember

 PRKA:MineralRightsMember

 us-gaap: LandImprovementsMember

 us-gaap: LandImprovementsMember

 us-gaap: LandImprovementsMember

 us-gaap: LandImprovementsMember

 us-gaap: BuildingMember

 us-gaap: BuildingMember

 us-gaap: BuildingMember

 us-gaap: BuildingMember

 PRKA:AnimalSheltersAndHabitatsMember

 PRKA:AnimalSheltersAndHabitatsMember

 PRKA:AnimalSheltersAndHabitatsMember

 PRKA:AnimalSheltersAndHabitatsMember

 PRKA:ParkAnimalsMember

 PRKA:ParkAnimalsMember

 PRKA:ParkAnimalsMember

 PRKA:ParkAnimalsMember

 PRKA:EquipmentConcessionAndRelatedMember

 PRKA:EquipmentConcessionAndRelatedMember

 PRKA:EquipmentConcessionAndRelatedMember

 PRKA:EquipmentConcessionAndRelatedMember

 PRKA:EquipmentAndVehiclesYardAndFieldMember

 PRKA:EquipmentAndVehiclesYardAndFieldMember

 PRKA:EquipmentAndVehiclesYardAndFieldMember

 PRKA:EquipmentAndVehiclesYardAndFieldMember

 PRKA:VehiclesBusesAndRentalMember

 PRKA:VehiclesBusesAndRentalMember

 PRKA:VehiclesBusesAndRentalMember

 PRKA:VehiclesBusesAndRentalMember

 PRKA:RidesAndEntertainmentMember

 PRKA:RidesAndEntertainmentMember

 PRKA:RidesAndEntertainmentMember

 PRKA:RidesAndEntertainmentMember

 us-gaap: FurnitureAndFixturesMember

 us-gaap: FurnitureAndFixturesMember

 us-gaap: FurnitureAndFixturesMember

 us-gaap: FurnitureAndFixturesMember

 us-gaap: ConstructionInProgressMember

 us-gaap: ConstructionInProgressMember

 2023-03-31

 2023-03-31

 2023-03-01
 2023-03-31

 2021-06-18
 2021-06-18

 2021-06-18

 PRKA:AggielandSellerNoteMember

 2021-06-30
 2021-06-30

 PRKA:AggielandWildAnimalTexasMember

 2023-10-19

 PRKA:AggielandWildAnimalTexasMember

 2023-10-19
 2023-10-19

 PRKA:WildAnimalGeorgiaMember

 2023-10-24

 PRKA:WildAnimalGeorgiaMember

 2023-10-24
 2023-10-24

 PRKA:LineOfCreditFeeAmortizationMember

 PRKA:LineOfCreditFeeAmortizationMember

 2025-04-10
 2025-04-10

 2025-04-10

 PRKA:SevenDirectorsMember

 2023-12-04
 2023-12-04

 PRKA:ThreeDirectorsMember

 2023-12-04
 2023-12-04

 PRKA:SevenDirectorsMember

 2024-02-02
 2024-02-02

 PRKA:SevenDirectorsMember

 PRKA:OfficersAndDirectorMember
 us-gaap: RelatedPartyMember

 PRKA:AggielandParksIncMember

 2025-09-04
 2025-09-04

 PRKA:StateOfMissouriMember

 PRKA:FederalDomesticMember

 PRKA:StateOfGeorgiaMember

 2024-06-03
 2024-06-03

 PRKA:OperatingSegmentMember

 country: GA

 country: MO

 PRKA:TXMember

 country: GA

 country: MO

 PRKA:TXMember

 PRKA:MissouriParkMember

 PRKA:MissouriParkMember

 PRKA:TexasParkMember

 PRKA:TexasParkMember

 PRKA:CorporateandReconcilingItemsMember

 PRKA:CorporateandReconcilingItemsMember

 PRKA:MissouriParkMember

 PRKA:MissouriParkMember

 PRKA:TexasParkMember

 PRKA:TexasParkMember

 PRKA:CorporateandReconcilingItemsMember

 PRKA:CorporateandReconcilingItemsMember

 utr:acre

 PRKA:Integer

 UNITED
STATES

 SECURITIES
AND EXCHANGE COMMISSION

 Washington,
D.C. 20549

 FORM

 ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 For
the fiscal year ended September 28, 2025

 TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 Commission
file number: 000-51254

AMERICA, INC.

 (Exact
name of registrant as specified on its charter)

 nevada

 91-0626756

 State
 or other jurisdiction of

 incorporation
 or organization

 (I.R.S.
 Employer

 Identification
 Number)

 1300
Oak Grove Road

 Pine
Mountain, GA 31822

 (Address,
Including Zip Code of Principal Executive Offices)

 ( 706 - 663-8744)

 (Issuer's
telephone number)

 With
copies to:

 Adam
Finerman

 Baker
Hostetler

Rockefeller Plaza

 New
York, New York 10111

 Securities
registered under Section 12(b) of the Exchange Act:

 NONE

 Securities
registered under Section 12(g) of the Exchange Act:

Stock, par value $0.001 per share

 (Title
of class)

by check mark whether the registrant is a well-known seasoned issuer as defined in Rule 405 of the Securities Act.

 Yes
 No

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

 Yes
 No

by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.

 Yes
 No

by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and
post such files).

 Yes
 No

by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting
company. See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one):

 Large
 accelerated filer

 Accelerated
 filer

 Non-accelerated
 filer

 Smaller
 reporting company

 Emerging
 growth company

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered
public accounting firm that prepared or issued its audit report.

 If
securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant
included in the filing reflect the correction of an error to previously issued financial statements.

by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation
received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act) Yes. No

 The
aggregate market value of common stock of Parks! America, Inc. held by non-affiliates based on the closing price of such common
stock on March 30, 2025, (the last day of the most recently completed second quarter), of $37.00 per share was approximately
$ 10.08 million. For purposes of the above statement only, all directors, executive officers and 10% stockholders are assumed to be
affiliates. This determination of affiliate status is not necessarily a conclusive determination for any other purpose.

 As
of December 9, 2025, the issuer had 753,577 outstanding shares of Common Stock.

 Securities
registered pursuant to Section 12(g) of the Act:

 Title
 of each class

 Trading
 Symbol(s)

 Name
 of each exchange on which registered

 Stock

 PRKA

 OTCQX

 DOCUMENTS
INCORPORATED BY REFERENCE

 Portions of the registrant's Proxy Statement relating to the registrant's
2026 Annual Meeting of Stockholders (the "Proxy Statement") are incorporated by reference into
Part III of this Annual Report on Form 10-K where indicated. The Proxy Statement will be filed with the U.S. Securities and Exchange Commission
within 120 days after the end of the fiscal year to which this report relates.

 FORM

 FOR
THE FISCAL YEAR ENDED SEPTEMBER 28, 2025

 Page

 Item

 Business

 Item
 1A

 Risk Factors

 Item
 1B

 Unresolved Staff Comments

 Item
 1C

 Cybersecurity

 Item

 Properties

 Item

 Legal Proceedings

 Item

 Mine Safety Disclosures

 Item

 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

 Item

 Reserved

 Item

 Management's Discussion and Analysis of Financial Condition and Results of Operations

 Item
 7A

 Quantitative and Qualitative Disclosures About Market Risk

 Item

 Financial Statements and Supplementary Data

 Item

 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

 Item
 9A

 Controls and Procedures

 Item
 9B

 Other Information

 Item
 9C

 Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

 Item

 Directors, Executive Officers, and Corporate Governance

 Item

 Executive Compensation

 Item

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

 Item

 Certain Relationships and Related Transactions, and Director Independence

 Item

 Principal Accountant Fees and Services

 Item

 Exhibits and Financial Statement Schedules

 Signatures

 PART
I

 ITEM
1. BUSINESS

 As
used in this Annual Report on Form 10-K, references to the "Company", "we", "our", "Parks!
America" and similar terms refer to Parks! America, Inc. and its wholly owned subsidiaries. Our fiscal year ends on the Sunday
closest to September 30. Other terms that are commonly used in this Annual Report on Form 10-K are defined as follows:

 "2020
 Term Loan" – Term loan credit agreement, dated as of April 27, 2020, between the Company
 and First Financial Bank.

 "2021
 Term Loan" – Term loan credit agreement, dated as of June 18, 2021, between the Company
 and Synovus Bank.

 "2025
 Term Loan" – Term loan credit agreement, dated as of September 30, 2024, between the Company
 and Cendera Bank N.A.

 "Adjusted
 EBITDA" – Net income (loss)
 appearing on the Consolidated Statements of Operations net of Income tax expense/(benefit), Interest expense, Depreciation and amortization
 and other significant items.

 "Adjusted
 net income (loss)" – Net
 income (loss) appearing on the Consolidated Statements of Operations excluding significant non-recurring or non-operational items.
 Adjusted net income (loss) is also presented on a diluted per share basis.

 "First
 Quarter 2025" – The 13 weeks
 ended December 29, 2024.

 "First
 Quarter 2024" – The 13 weeks
 ended December 31, 2023.

 "Fiscal
 2026" – The 52 weeks ending
 September 27, 2026.

 "Fiscal
 2025" – The 52 weeks ended
 September 28, 2025.

 "Fiscal
 2024" – The 52 weeks ended
 September 29, 2024.

 "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.

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

 "SEC"
 – The United States Securities and Exchange Commission.

 "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").

 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.

 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

 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.

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

about our Executive Officers

 The
following table sets forth information regarding our executive officers.

 Name

 Age

 Title

 Geoffrey
 Gannon

 President
 and Chief Executive Officer

 Rebecca
 McGraw

 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.

 ITEM
1A. RISK FACTORS

 You
should read the following discussion and analysis together with our consolidated financial statements and related notes included elsewhere
in this Annual Report on Form 10-K. Some of the information contained in this discussion and analysis or set forth elsewhere in this
Annual Report on Form 10-K, including information with respect to our plans and strategies for our business, includes forward-looking
statements that involve risks and uncertainties. You should review the " Risk Factors "
below for a discussion of important factors that could cause actual results to differ materially from the results described in or implied
by the forward-looking statements contained in this report. If any of the following risks occur, our business, financial condition and
results of operations could be adversely affected.

 Risk
Factors Relating to Our Business and Industry:

 Conditions
beyond our control, including natural disasters or extreme weather, could damage our properties and could adversely impact attendance
at our parks and result in decreased revenues.

 Natural
disasters, public health crises, epidemics, pandemics, terrorist activities, power outages or other events outside our control could
disrupt our operations, impair critical systems, damage our properties or reduce attendance at our parks or require temporary park
closures. Damage to our properties could take a long time to repair and there is no guarantee that we would have adequate insurance
to cover the repair costs or the expense of the interruption of our business. Furthermore, natural disasters such as fires,
earthquakes, hurricanes, tornadoes or extreme weather events linked to climate change may interrupt or impede access to our
affected properties or require evacuations and may cause attendance at our affected properties to decrease for an indefinite period.
For example, during 2023, our Georgia park experienced extensive damage caused by a tornado.

 The occurrence of such events could have a material adverse effect on our business, financial condition and results of operations. We
cannot predict the frequency, duration or severity of these events or the effects that they may have on our business, financial condition
or results of operations.

 The
impact of economic conditions on consumer discretionary spending could adversely affect our financial performance.

 The
cost of admissions and spending while visiting our parks are discretionary expenditures that historically have been influenced by domestic
economic conditions. Higher prices for consumer goods may result in less discretionary spending by consumers. Changes in consumer discretionary
spending may result in reduced attendance to our parks and spending while at our parks.

 Domestic
conditions that have an effect on consumer discretionary spending include but may not be limited to: unemployment, general and
industry-specific inflation, consumer confidence, consumer purchasing and saving habits, credit conditions, stock market
performance, home values, population growth, household incomes and tax policies. Material changes to governmental policies related
to domestic fiscal concerns, and/or changes in central bank policies with respect to monetary policy also could affect consumer
discretionary spending. Any of these factors that affect consumer discretionary spending may further influence our
customers' purchasing preferences, potentially having a further material impact on our financial performance.

 General
economic conditions may have an adverse impact on our business, financial condition or results of operations.

 Macroeconomic changes in the U.S. including but not
limited to, interest rates, tariffs, material costs, fuel and energy costs (including oil prices), tax rates, unemployment, inflation,
consumer confidence and spending levels, consumer credit availability and credit market conditions may create a challenging economic environment.
A general economic slowdown, inflationary pressures or recession resulting in a decrease in consumer discretionary spending could adversely
affect the frequency with which guests choose to visit our parks and the amount they spend when they visit. Our ability to
source supplies, materials and services at reasonable costs and in a timely manner could be impacted by adverse economic conditions in
the U.S. and abroad.

 The
theme park industry is highly competitive, and we may be unable to compete effectively. We face strong competition from numerous
entertainment alternatives.

 In
addition to competing with other themed and amusement parks, our venues compete with other types of recreational venues and entertainment
alternatives, including but not limited to movies, sports attractions, vacation travel and video games. There can be no assurance that
we will successfully differentiate ourselves from these entertainment alternatives or that consumers will consider our entertainment
offerings to be more appealing than those of our competitors.

 The
high fixed cost structure of theme park operations can result in significantly lower margins, profitability and cash flows if attendance
levels do not meet expectations.

 A
large portion of our expenses is relatively fixed because the costs for employees, maintenance, animal care, utilities, property taxes
and insurance do not vary significantly with attendance. These fixed costs may increase and may not be able to be reduced at a rate proportional
to ongoing attendance levels. If cost-cutting efforts are insufficient or are impractical, the Company could experience a
material decline in margins, profitability and cash flows. Such effects can be especially pronounced during periods of economic contraction
or slow economic growth.

 Fluctuations and increases
in the cost and availability of supplies and materials could adversely affect our business and results of operations.

 The prices of supplies and
materials may fluctuate based on a number of factors beyond our control, including commodity prices such as oil and fuel prices, changes
in supply and demand, labor costs, competition, tariffs and government regulation. These fluctuations in the cost and availability of supplies and materials may result in an increase in our costs to purchase
products from our vendors and could have an adverse effect on our cost of sales. Increases in our cost of supplies and materials may cause
us to increase our prices, which may not be acceptable to our customers.

 Bad
or extreme weather conditions can adversely impact attendance at the parks, which in turn would reduce revenues.

 Because
most of the attractions at the parks are outdoors, attendance can be adversely affected by continuous and prolonged bad or extreme weather
and by forecasts of bad or mixed weather conditions, which would negatively affect revenues. The ownership of our parks in different
geographic locations reduces, but does not eliminate, the effect that adverse weather can have on consolidated results. This
risk could be magnified by the effects of climate change, including more extreme temperatures, excessive precipitation or wind.

 Our
operating results are subject to seasonal fluctuations.

 We
historically have experienced and expect to continue to experience seasonal fluctuations in our annual theme park attendance and
revenue, which are typically higher in our third and fourth fiscal quarters. As a result, approximately 60% of our attendance and
revenues have been historically generated in the third and fourth fiscal quarters. In addition, the timing of school vacations may
cause fluctuations in our quarterly theme park attendance and revenue. For example, revenues can shift between the second and third
quarters due to the timing of Spring Break holidays.

 Due
to the seasonal fluctuations, there is only a limited period of time during which the impact of those conditions or events can be mitigated.
Accordingly, such conditions or events may have a disproportionately adverse effect on our revenues and cash flow. In addition, historically
most of our expenses for maintenance and costs of adding new attractions at our parks are incurred during the first fiscal quarter, which
may increase the need for borrowing to fund those expenses during such periods.

 There
is a risk of accidents or other incidents occurring at our parks, which may reduce attendance and negatively impact revenues.

 The
safety of guests and employees is one of the Company's top priorities. There are inherent risks involved with animals, and an accident
or a serious injury at any of the parks could result in negative publicity that could reduce attendance and result in decreased revenues.
In addition, accidents or injuries involving animals at other amusement parks could influence the general attitudes of customers and
adversely affect attendance at the parks. Other types of incidents such as food borne illnesses, product recalls on items sold, and disruptive,
negative guest behavior which have either been alleged or proved to be attributable to the parks or competitors could adversely affect
attendance and revenues.

 Due
to the nature of the work we perform, we may be subject to significant liability claims and disputes.

 We
engage in services that can result in substantial injury or damages that may expose us to legal proceedings, investigations and disputes.
For example, in the ordinary course of our business, we may be involved in legal disputes regarding personal injury and wrongful death
claims, employee or labor disputes, professional liability claims, and general commercial disputes, as well as other claims. An unfavorable
legal ruling against us or our subsidiaries could result in substantial monetary damages. Although we have adopted a range of insurance,
risk management, safety, and risk avoidance programs designed to reduce potential liabilities, there can be no assurance that such programs
will protect us fully from all risks and liabilities. If we sustain liabilities that exceed our insurance coverage or for which we are
not insured, it could have a material adverse impact on our results of operations and financial condition.

 Animals
in our care are important to our parks, and they could be exposed to infectious diseases.

 As
part of our operations, guests have opportunities to interact with certain animals. Animals in our care play an essential role in our
parks and safeguarding their health is a top priority. While all animals can encounter naturally occurring infectious agents, we implement
comprehensive monitoring and prevention strategies designed to reduce these risks. Our animal care teams oversee rigorous health protocols
designed to support the well-being of the animals in our care. These protocols are also structured to reduce the risk of guests coming
into contact with potential health concerns. In addition, external veterinary professionals are engaged to provide specialized expertise
and further strengthen the safety and welfare measures in place throughout the park. An outbreak of an infectious disease among any animals
in our parks or the public's perception that a certain disease could be harmful to human health may materially adversely affect
our business, financial condition, and results of operations

 Working
with living animals naturally involves certain inherent and sometimes unpredictable health-related risks, and not all factors are
within full control of the parks or their staff. In the event of an animal-related health concern affecting a specific animal or
group of animals, we follow established procedures to protect their well-being and maintain continuity of guest
experiences. When needed, specific animal experiences may be temporarily modified to support best-practice care. Broader
developments related to animal health, including those that influence public perception, may periodically affect our operations or
financial outcomes. Even so, our proactive approach helps us responsibly manage and respond to these risks, while upholding the standards
expected by our stakeholders.

 We
are subject to scrutiny by activists and other third-party groups and/or media who can pressure governmental agencies, vendors, guests
and/or regulators, bring action in the courts or create negative publicity about us.

 From
time to time, animal activists and other third-party groups may make claims before government agencies, bring lawsuits against us, attempt
to generate negative publicity associated with our business and/or attempt to influence guests to avoid our parks. Such activities sometimes
are based on allegations that we do not properly care for some of our animals. On other occasions, such activities are specifically designed
to change existing law or enact new law in order to impede our ability to retain, exhibit, acquire or breed animals. While we seek to
structure our operations to comply with all applicable federal and state laws and vigorously defend ourselves when sued, there are no
assurances as to the outcome of claims and lawsuits that could be brought against us or new laws or changes to existing laws that could
negatively impact us. Even if they are not successful, these lawsuits or proposed changes to laws, can require deployment of our resources
and can lead to negative publicity. Negative publicity created by activists or in the media could adversely affect our reputation and
results of operations.

 If
we lose licenses and permits required to exhibit animals and/or violate laws and regulations, our business will be adversely affected.

 We
are required to hold government licenses and permits, some of which are subject to annual or periodic renewal, for possessing,
exhibiting, and maintaining animals. Although our parks' licenses and permits have always been renewed in the past, in the event
that any of our licenses or permits are not renewed or any of our licenses or permits are revoked, the impacted park(s) might not be able
to remain open to display or retain the animals covered by such license or permit. Such an outcome could materially
adversely affect our business, financial condition, and results of operations.

 In
addition, we are subject to periodic inspections by federal and state agencies and the subsequent issuance of inspection reports. While
we believe that we comply with, or exceed, requisite care and maintenance standards that apply to our animals, government inspectors
can cite us for alleged statutory or regulatory violations. In unusual instances when we are cited for an alleged deficiency, we are
generally given the opportunity to correct any purported deficiencies without penalty. It is possible, however, that in some cases a
federal or state regulator could seek to impose monetary fines on us. In the past, when we have been subjected to governmental claims
for fines, the amounts involved were not material to our business, financial condition or results of operations. However, while unlikely,
we cannot predict whether any future fines that regulators might seek to impose would materially adversely affect our business, financial
condition or results of operations. Moreover, many of the statutes under which we operate allow for the imposition of criminal sanctions.
While neither of the foregoing situations is likely to occur, either could negatively affect the business, financial condition, or results
of operations at our theme parks.

 The
 suspension or termination of any of our business licenses may have a negative impact on our
 business.

 We
maintain a variety of business licenses issued by federal, state and local government agencies that are required to be renewed periodically.
We cannot guarantee that we will be successful in renewing all our licenses on a periodic basis. The suspension, termination or expiration
of one or more of these licenses could have a significant adverse effect on our revenues and profits. In addition, any changes to the
requirements for any of our licenses could affect our ability to maintain the licenses.

 Our
insurance coverage may not be adequate to cover all possible losses that we could suffer, and our insurance costs may increase.

 Companies
engaged in the theme park business may be sued for substantial damages in the event of an actual or alleged accident. An accident occurring
at our parks or at competing parks may reduce attendance, increase insurance premiums, and negatively impact our operating results. Our
properties contain drive-through, safari-style animal parks, and there are inherent risks associated with allowing the public to interact
with animals. Although we carry liability insurance to cover this risk, there can be no assurance that our coverage will be adequate
to cover liabilities, or that we will be able to afford or obtain adequate coverage should a catastrophic incident occur.

 We
currently have $6.0 million of liability insurance per occurrence, which is capped at $10.0 million in aggregate. We will continue to
use reasonable commercial efforts to maintain policies of liability, fire and casualty insurance sufficient to provide reasonable coverage
for risks arising from accidents, fire, weather, acts of God, and other potential casualties. There can be no assurance that we
will be able to obtain adequate levels of insurance to protect against legal actions and judgments in connection with accidents or other
disasters that may occur in our parks.

 We are subject to particular risks associated
with real estate ownership, which could result in unanticipated losses or expenses.

 Our business is subject to many risks that
are associated with the ownership of real estate. Risks that are associated with real estate acquisition and ownership include, without
limitation, the following:

 general
 liability, property and casualty losses, some of which may be uninsured;

 the
 inability to purchase or sell our assets rapidly due to the illiquid nature of real estate
 and the real estate market;

 costs
 relating to maintenance and repair of our facilities and the need to make expenditures due
 to changes in governmental regulations, or remediation of unknown environmental hazards;
 and

 acts
 of God and acts of terrorism affecting our properties.

 Our
ownership of real property subjects us to environmental regulation, which creates uncertainty regarding future environmental expenditures
and liabilities.

 We
may be required to incur costs to comply with environmental requirements, such as those relating to discharges to air, water and land;
the handling and disposal of solid and hazardous waste; and the cleanup of properties affected by hazardous substances. Under these and
other environmental requirements we may be required to investigate and clean up hazardous or toxic substances or chemical releases at
one of our properties. As an owner or operator, we could also be held responsible by a governmental entity or third party for property
damage, personal injury and investigation and cleanup costs incurred by them in connection with any contamination. Environmental laws
typically impose cleanup responsibility and liability without regard to whether the owner or operator knew of or caused the presence
of the contaminants. The liability under environmental laws has been interpreted to be joint and several unless the harm is divisible
and there is a reasonable basis for allocation of the responsibility. The costs of investigation, remediation or removal of those substances
may be substantial, and the presence of those substances, or the failure to remediate a property properly, may impair our ability to
use our property. We are not currently aware of any material environmental risks regarding our properties. However, we may be required
to incur costs to remediate potential environmental hazards or to mitigate environmental risks in the future.

 Focused Compounding Fund
LP and its affiliates may significantly influence our decisions, and their interests may conflict with those of the Company or its
stockholders in the future.

 Focused Compounding Fund LP
("Focused Compounding") owned approximately 41.27% of our total outstanding shares of common stock as of September 28,
2025. 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 and Chief Executive Officer.

 For so long as Focused Compounding
designees remain on our Board, Focused Compounding will have influence with respect to our management, business plans and policies, including
the appointment and removal of our officers, and nominees for director. In addition, for so long as Focused Compounding continues to own
a significant percentage of our stock, Focused Compounding will be able to influence the composition of our Board of Directors and the
approval of actions requiring stockholder approval. For example, for so long as Focused Compounding continues to own a significant percentage
of our stock, Focused Compounding may be able to influence whether or not a change of control of our Company or a change in the composition
of our Board of Directors occurs. The concentration of ownership could deprive you of an opportunity to receive a premium for your shares
of common stock as part of a sale of our Company and ultimately might affect the market price of our common stock.

 We
may not be able to generate sufficient cash to service all of our indebtedness and fund our working capital and capital expenditures.

 The
Company had $3.24 million outstanding indebtedness as of September 28, 2025 (before reduction of debt issuance costs). We may be required
to dedicate a substantial portion of cash flows from operations to the payment of principal and interest under our indebtedness. We generated
net cash from operating activities of $2.11 million in Fiscal 2025 and ended Fiscal 2025 with $3.88 million of cash and cash equivalents
on our balance sheet.

 Our
ability to make scheduled payments on our indebtedness depends upon our future operating performance and on our ability to generate cash
flows in the future, which is subject to general economic, financial, business,

 competitive, legislative, regulatory, and
other factors that are beyond our control. We cannot be certain that our business will generate sufficient cash flows from
operations or that future borrowings will be available to us in an amount sufficient to enable us to fund our debt service
obligations and other liquidity needs.

 If our cash flows and capital
resources are insufficient to service indebtedness, we may be forced to reduce or delay capital expenditures, sell assets, seek additional
debt or equity financing, or restructure or refinance our indebtedness. These alternative measures may not be successful and may not allow
us to meet our scheduled debt service obligations.

 If we cannot make scheduled payments on our indebtedness, we will be in default and, as a result, our lenders could
declare all outstanding principal and interest to be due and payable, could terminate their commitments to loan money to us, and could
foreclose against any assets securing our indebtedness and we could be forced into bankruptcy or liquidation.

 Increased
labor and employee benefit costs may negatively impact results of operations. We also depend on a seasonal workforce, many of whom are
paid at or near minimum wage.

 Labor
is a primary component in the cost of operating our business. Our ability to control labor costs is subject to numerous external factors,
including market pressures with respect to prevailing wage rates, unemployment levels, and health and other insurance costs, as well
as the impact of legislation or regulations governing labor relations, minimum wage, and healthcare benefits. Furthermore, our operations
are dependent in part on a seasonal workforce, many of whom are paid at or near minimum wage. We seek to manage seasonal wages and the
timing of the hiring process to ensure the appropriate workforce is in place for peak and low seasons; however, we may be unable to recruit
and hire sufficient personnel to meet our business needs. In addition, we cannot guarantee that material increases in the cost of securing
our workforce will not occur in the future. Increased state or federal minimum wage requirements, general wages or an inadequate workforce
could have an adverse impact on our results of operations.

 Failure to retain and/or to
attract qualified new employees could adversely affect our business and results of operations.

 Our success depends in part
upon a number of employees, including our general managers at each park, as well as our ability to attract, train, motivate and retain
qualified employees to keep pace with our needs, including employees with certain specialized skills in the field of animal training and
care and other areas of institutional knowledge. We also employ a significant seasonal and part-time workforce which is critical to staffing
our parks during peak periods. If we are unable to attract and retain adequate numbers of employees to staff our parks especially during
peak periods, this could adversely affect our business and negatively impact our results of operations and the guest experience.

 Increased competition for employees
and labor market shortages may impact our ability to attract, recruit and retain employees for our parks. Many competitors or other businesses
in the markets in which we operate have increased wages and/or offered enhanced benefit packages, which in some cases may be superior
to ours. We may be unable to retain employees or to attract other highly qualified employees, particularly
if we do not offer employment terms that are competitive with the current market and/or provide sufficient incentives to
retain our existing and future employees. Also, if we fail to maintain a culture that makes our company an attractive place to work,
employee morale may be diminished, and we may have difficulty retaining our workforce and recruiting new employees. Separately, minimum
wage legislation impacts some of our markets, which adds additional pressure to our starting wages and increases the possibility of compression
which may lead to the departure of experienced personnel.

 Data
privacy regulation and our ability to comply could harm our business.

 We
(or third parties on our behalf) collect, store and use personal identifiable information and other customer data we receive through
online ticket sales, marketing, mailing lists, and guest reservations. We also maintain personally identifiable information about
our employees. The integrity and protection of our customer and employee data is critical to our business. Our guests and employees
have a high expectation that we will adequately protect their personal information. There are multiple federal, state and local laws
regarding privacy and protection of personal information and data, and these laws and regulations continue to evolve. The regulatory
environment related to information security and privacy is increasingly rigorous with new and rapidly changing requirements. For
example, many states have passed laws requiring notification to customers when there is a security breach involving their personal
data and multiple jurisdictions are considering legislation that may impose liability if a business fails to properly safeguard
personal information of its customers. Maintaining compliance with applicable security and privacy regulations may increase our
operating costs. We believe our cybersecurity measures are adequate. However, there can be no assurance that the procedures that we
or third-party providers have implemented to protect against unauthorized access to secure data are adequate to safeguard against
all data security breaches, and if we were to experience a data breach, we could be subject to fines, penalties and/or costly
litigation, as well as could face damage to our reputation which could adversely affect our business.

 As a smaller reporting
company, we are subject to scaled disclosure requirements that may make it more challenging for investors to analyze and compare our results
of operations and financial prospects.

 Currently, we are a "smaller reporting company," as defined by Rule 12b-2 of the Exchange Act. As a "smaller
reporting company," we are able to provide simplified executive compensation disclosures in our filings and have certain other decreased
disclosure obligations in our filings with the SEC, including being required to provide only two years of audited financial statements
in annual reports. Consequently, it may be more challenging for investors to analyze our results of operations and financial prospects.

 Risk
Factors Relating to Our Common Stock:

 Our
share price may be volatile.

 The
market price of our common stock may fluctuate significantly due to several factors, some of which may be beyond our control, including:

 actual
 or anticipated fluctuations in our operating results;

 results
 of operations that vary from those of our competitors;

 the
 operating and stock price performance of comparable companies;

 changes
 to the regulatory and legal environment under which we operate; and

 domestic
 and worldwide economic conditions.

 Further,
when the market price of a company's common stock drops significantly, stockholders often initiate securities class action lawsuits
against the company. A lawsuit against us could cause us to incur substantial costs and could divert the time and attention of our senior
management and other resources.

 We
have not historically paid dividends.

 As
of the date of this report, no cash dividends have been paid on our common stock. Any future determination as to the payment of dividends
on our common stock will be at the discretion of our Board of Directors and will depend on our earnings, operating and financial condition,
capital requirements and other factors deemed relevant by our Board of Directors. The provisions of credit agreements, which we may enter
from time to time, may also restrict the declaration of dividends on our common stock.

 The concentration of ownership of our
capital stock limits your ability to influence corporate matters.

 Our executive officers, directors,
current 5% or greater stockholders and entities affiliated with them beneficially owned (as determined in accordance with the rules of
the SEC) approximately 42.36% of our common stock outstanding as of September 28, 2025. This significant concentration of share ownership
may adversely affect the trading price for our common stock because investors often perceive disadvantages in owning stock in companies
with controlling stockholders. Also, these stockholders, acting together, may be able to control our management and affairs and matters
requiring stockholder approval, including the election of directors and the approval of significant corporate transactions, such as mergers,
consolidations or the sale of substantially all of our assets. Consequently, this concentration of ownership may have the effect of delaying
or preventing a change of control, including a merger, consolidation or other business combination involving us, or discouraging a potential
acquirer from making a tender offer or otherwise attempting to obtain control, even if that change of control would benefit our other
stockholders.

 Our
Rights Plan expired pursuant to its terms.

 On
January 19, 2024, we adopted a Rights Plan which provided, among other things, that if specified events occurred, our stockholders would
be entitled to purchase additional shares of our common stock. On January 18, 2025, the Rights Plan expired pursuant to its terms, and
has not been reinstated or replaced; however, the Board may, subject to its fiduciary duties under applicable law, choose to implement
a similar plan in the future.

 The
ultimate effect of the Reverse/Forward Stock Split on the market price of our common stock cannot be predicted with any certainty.

 At
the Company's annual meeting of stockholders on March 7, 2025, the stockholders of the Company approved the filings of the Certificates
of Amendment to effect the Reverse/Forward Stock Split. On April 1, 2025, the Board of Directors approved the execution of the Reverse/Forward
Stock Split. The Reverse/Forward Stock Split became effective on April 30, 2025.

 The
ultimate effect of the Reverse/Forward Stock Split on the market price of our common stock cannot be predicted with any certainty, and
we cannot assure you that the Reverse/Forward Stock Split will result in any or all of the expected benefits. While the reduction in
the number of outstanding shares of our common stock increased the market price of our common stock we cannot assure you that the Reverse/Forward
Stock Split will result in any permanent or sustained increase in the market price of our common stock. The market price of our common
stock depends on multiple factors, many of which are unrelated to the number of shares outstanding, including our business and financial
performance, general market conditions, and prospects for future success, any of which could have a counteracting effect to the Reverse/Forward
Stock Split with respect to the per share price.

 The
Reverse/Forward Stock Split may decrease the liquidity of our Common Stock.

 Although
our Board believes that the decrease in the number of shares of our Common Stock outstanding as a consequence of the Reverse/Forward
Stock Split and the subsequent increase in the market price of our Common Stock could encourage interest in our Common Stock and possibly
promote greater liquidity for our stockholders, such liquidity could also be adversely affected by the reduced number of shares outstanding
after the Reverse/Forward Stock Split. The liquidity of our Common Stock may ultimately be harmed by the Reverse/Forward Stock Split
given the reduced number of shares of Common Stock outstanding after the Reverse/Forward Stock Split, particularly if the stock price
does not continue to increase.

 ITEM
1B. UNRESOLVED STAFF COMMENTS

 None

 ITEM
1C. CYBERSECURITY

 While
we have never had a material cybersecurity incident that impacted our operations, we face various cyber and other security threats, including
attempts to gain unauthorized access to sensitive information and networks; employee threats; virtual and cyber threats to our directors,
officers, and employees; threats to the security of our facilities and infrastructure; and threats from terrorist acts or other acts
of aggression. Our customers and vendors face similar threats. We utilize internal and external independent controls to monitor and mitigate
the risk of these threats. All our key business processes utilize third-party software platforms. We do not retain any sensitive customer
information outside of these systems.

 The
impact of potential cybersecurity threats is difficult to predict, but one or more of them could result in the loss of information or
capabilities, harm to individuals or property, damage to our reputation, loss of business, regulatory actions, and potential liability,
any of which could have a material adverse effect on our financial position, results of operations and/or cash flows. These threats could
lead to losses of sensitive information or capabilities, harm to personnel, infrastructure, or products, and/or damage to our reputation
or affect our vendor's ability to perform under our contracts.

 Effective
incident response involves every part of our organization, including business operations, finance and outside service providers
for key business applications. Our Board of Directors oversees all business, property and affairs of the Company, including cybersecurity
risks. Our management keep the members of the Board informed of our business through discussions at Board meetings and by providing them
with reports and other materials throughout the year.

 ITEM
2. PROPERTIES

 The
Company owns and operates the following wild animal safari parks:

 Wild
Animal Safari, Inc. – Georgia Park

 Our
Georgia Park is situated within a 200-acre portion of a 500-acre property, which is owned by Wild Animal – Georgia, 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. 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. Our Georgia Park has a gift shop, restaurant and picnic areas.

 Wild
Animal, Inc. – 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. 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. Our Missouri Park has a gift shop, a party room for rental
and a play structure.

 Aggieland-Parks,
Inc. – Texas Park

 Our
Texas Park is situated within a 250-acre portion of a 450-acre property, located approximately 25 miles northeast of Bryan/College
Station, Texas and 120 miles northwest of downtown Houston. Our Texas Park features a two-and-a-half-mile drive-through 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. Our Texas Park has a gift shop,
several party rooms for rental, a large covered patio and play structures.

 ITEM
3. LEGAL PROCEEDINGS

 On
December 16, 2022, the Company received notice that on August 10, 2022, a former employee of Aggieland Wild Animal – Texas, filed
a Complaint in the 361st District Court of Brazos County, Texas (case no. 22-001839-CV-361), alleging the Company and Aggieland-Parks,
Inc. committed several instances of employment discrimination. The Complaint sought unspecified economic, compensatory and punitive damages,
as well as attorney's fees and costs. On June 3, 2024, the Company entered into a settlement agreement and mutual release of claims
with the former employee related to this matter and paid the former employee $75,000.

 On
March 1, 2024, Focused Compounding Fund, LP ("Focused Compounding") filed a Complaint in the Eighth Judicial District Court
of Clark County, Nevada (case no. A-24-888295-B) against the Company and each of our Board of Directors, alleging that the defendants
were contemplating efforts to entrench themselves as members of the Board of Directors. Simultaneously with filing its Complaint, Focused
Compounding sought a Preliminary Injunction that would require the Company and our Directors to take various actions. On June 20, 2024,
Focused Compounding, the Company and the named defendants agreed to a stipulation dismissing with prejudice any and all claims by and
between the parties outlined in the initial Complaint in light of the results of the Company's annual meeting of stockholders held
on June 6, 2024. See Note 3, Contested Proxy and Related Matters of the Notes to the Consolidated Financial Statements included
in this Annual Report on Form 10-K for additional information.

 Other
Matters

 Except
as noted above, we are not a party to any pending legal proceedings, nor are any of our properties the subject of a pending legal proceeding,
that is not in the ordinary course of business or otherwise material to the financial condition of its business. None of our directors,
officers or affiliates is involved in a proceeding adverse to our business or has a material interest adverse to our business.

 ITEM
4. MINE SAFETY DISCLOSURES

 Not
applicable

 PART
II

 ITEM
5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDERS MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

 Our
common stock trades on the OTCQX Market under the symbol "PRKA".

 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.

 The
table below sets forth, for the periods indicated, the high and low closing prices per share of our common stock as reported on the
OTC Pink Market prior to and on May 1, 2025, and the OTCQX Market on and after May 2, 2025. The prior period amounts have been adjusted to reflect the
Reverse/Forward Stock Split that became effective on April 30, 2025. Refer to Note 7, Stockholders Equity for further
information about the Reverse/Forward Stock Split. These quotations reflect prices between dealers, do not include retail mark-ups,
markdowns, and commissions and may not necessarily represent actual transactions. The prices are adjusted to reflect all stock
splits. As of December 9, 2025, there were 753,577 shares outstanding held by approximately 326 stockholders of record. The number
of stockholders of record does not reflect shares held beneficially or those shares held in "street" name.

 High

 Low

 2025

 First

 $
 48.00

 $
 38.50

 Second

 $
 42.00

 $
 35.00

 Third

 $
 48.25

 $
 30.01

 Fourth

 $
 69.99

 $
 33.00

 2024

 First

 $
 43.00

 $
 33.00

 Second

 $
 47.00

 $
 32.50

 Third

 $
 40.00

 $
 32.00

 Fourth

 $
 42.80

 $
 26.00

 We
have not historically paid dividends on our common stock. Any future determination as to the payment of dividends on our common stock
will be at the discretion of our Board of Directors and will depend on our earnings, operating and financial condition, capital requirements
and other factors deemed relevant by our Board of Directors. The provisions of our credit agreements, which we may enter into from time
to time, may also restrict the declaration of dividends on our common stock.

 ITEM
6. [RESERVED]

 ITEM
7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 You
should read the following discussion in conjunction with the Consolidated Financial Statements and accompanying notes included elsewhere
in this Annual Report on Form 10-K. Managements' Discussion and Analysis of Financial Condition and Results of Operations contains
forward-looking statements. The matters discussed in these forward-looking statements are subject to risks, uncertainties and other factors
that could cause actual results to differ materially from those made, projected or implied in forward-looking statements. See "Cautionary
Statement Concerning Forward-Looking Statements" below and Item 1A, Risk Factors, in this Annual Report on Form 10-K for a discussion
of the uncertainties, risks and assumptions associated with these statements.

 This
section discusses our results of operations for the year ended September 28, 2025 as compared to the year ended September 29, 2024.

 As
used in this Annual Report on Form 10-K, references to the "Company", "Parks! America", "we", "us",
"our" and similar terms refer to Parks America, Inc. Our fiscal year ends on the Sunday closest to September 30.

 Executive
Overview

 We
own and operate three regional safari parks and are in the business of acquiring, developing and operating local and regional entertainment
assets in the United States. Our wholly owned subsidiaries are Wild Animal Safari, Inc., a Georgia corporation ("Wild Animal –
Georgia"), Wild Animal, Inc., a Missouri corporation ("Wild Animal – Missouri"), and Aggieland-Parks, Inc., a
Texas corporation ("Aggieland Wild Animal – Texas"). Wild Animal – Georgia owns and operates the Wild Animal
Safari Pine Mountain located in Pine Mountain, Georgia (the "Georgia Park"). Wild Animal – Missouri owns and operates
the Wild Animal Safari Springfield located in Strafford, Missouri (the "Missouri Park"). Aggieland Wild Animal – Texas
owns and operates the Aggieland Safari 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 CEO, who is the Chief Operating Decision Maker ("CODM") for review
and as a basis for decision making.

 Basis
of Presentation

 The
Consolidated Financial Statements have been prepared in accordance with GAAP and include the accounts of Parks! America, Inc. and its
subsidiaries. All intercompany transactions and balances have been eliminated.

 Seasonality

 The
Company's operations are seasonal. 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.

Proxy and Related Matters

 On
December 22, 2023, Focused Compounding Fund, LP (together with the participants in its solicitation, "Focused Compounding")
submitted documents to the Company providing notice as to a demand that the Company hold a special meeting of stockholders (the "Special
Meeting"). The Special Meeting was held for the purpose of asking stockholders to consider and vote upon five proposals, including
a proposal for the removal of all directors currently serving on the Board of Directors and a proposal for the election of a new Board
of Directors comprised entirely of Focused Compounding's slate of three candidates. The Special Meeting was held on February 26,
2024 and Focused Compounding's proposal to reconstitute the Board of Directors received the votes of a majority of shareholders
who voted, but not a sufficient majority for approval under Nevada law, so it did not pass.

 On
January 19, 2024, following Focused Compounding's submission to the Company, we adopted a rights plan (the "Rights Plan"),
which provided, among other things, that if specified events occurred, our stockholders would be entitled to purchase additional shares
of our common stock. On January 18, 2025, the Rights Plan expired pursuant to its terms.

 On
March 1, 2024, Focused Compounding filed a Complaint in the Eighth Judicial District Court of Clark County against the Company and each
of the members of our Board of Directors, alleging that the defendants were contemplating efforts to entrench themselves as members of
the Board of Directors. On June 20, 2024, Focused Compounding, the Company and the named defendants agreed to a stipulation dismissing
with prejudice any and all claims by and between the parties outlined in the initial Complaint in light of the results of the Company's
annual meeting of stockholders held on June 6, 2024.

 On
June 6, 2024 we held our annual meeting of stockholders (the "2024 Annual Meeting"). The purpose of the 2024 Annual Meeting
was for the Company's stockholders to elect seven nominees to serve on the Company's Board of Directors (the "Board"),
as well as consider additional proposals. The Company and Focused Compounding each submitted proxies soliciting the Company's stockholders
to vote for their respective proposed director nominees. The nominees for director included six nominees proposed by the Company and
four nominees proposed by Focused Compounding. At the 2024 Annual Meeting, the Company's stockholders elected four nominees proposed
by Focused Compounding and three nominees proposed by the Company.

 On
June 14, 2024, the Company announced that Lisa Brady stepped down as its President and Chief Executive Officer, and the Company's
Board had appointed Geoffrey Gannon as the Company's President. Mr. Gannon is also the Portfolio Manager at Focused Compounding.

 We
engaged legal counsel specializing in activist stockholder matters, as well as several other consultants, during this proxy contest.
In Fiscal 2025, contested proxy and related matters, net was a credit of $670,814 compared to contested proxy and related matters expense,
net of $2.04 million in Fiscal 2024. The $670,814 credit in Fiscal 2025 consisted of $567,157 of insurance proceeds received under our
directors and officers insurance related to this matter during First Quarter 2025. These proceeds were used to pay certain legal bills
associated with the contested proxy and related matters. In addition, a credit of $103,657 was recognized in Third Quarter 2025 from
the reversal of previously accrued contested proxy legal fees that were waived as part of the full settlement of outstanding invoices.
See Note 3, Contested Proxy and Related Matters, to the Consolidated Financial Statements.

 Reverse/Forward
Stock Split

 At
the annual shareholder meeting held on March 7, 2025, the stockholders voted to approve the amendments to the Company's Articles
of Incorporation to effect a 1 for 500 reverse stock split of the Company's common stock followed immediately by an amendment to
the Company's Restated Articles of Incorporation to effect a 5 for 1 forward stock split of the Company's Common Stock, herein
referred to as the Reverse/Forward Stock Split.

 On
April 1, 2025, the Board of Directors authorized the implementation of the Reverse/Forward Stock Split.

 On
April 10, 2025, the Company filed a certificate of amendment to the Company's Articles of Incorporation ("Charter")
with the Secretary of State of the State of Nevada to effect a 1-for-500 reverse stock split of the shares of the Company's common
stock, par value $0.001 per share followed immediately by the filing of a certificate of amendment to the Charter with the Secretary
of State of the State of Nevada to effect a 5-for-1 forward stock split of the Company Common Stock.

 The
immediate goal of the Reverse/Forward Stock Split was to reduce excessive administrative costs associated with having a disproportionately
large number of stockholders who owned relatively few shares.

 Effective
on April 30, 2025, at 5:00 p.m. Eastern Time, the Company effected a 1-for-500 reverse stock split of the shares of the Company's
common stock, followed immediately by a 5-for-1 forward stock split of the shares of the Company's common stock at 5:01 p.m. Eastern
Time herein referenced as the Reverse/Forward Stock Split.

 Prior
to and on May 1, 2025, the Company's common stock was 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,
the Company's common stock traded on a post-split basis under the symbol "PRKAD" for 20 trading days, including
the effective date of April 30, 2025, after which it reverted to "PRKA."

 No
fractional shares were issued in connection with the Reverse/Forward Stock Split. Instead, the Company paid cash (without interest)
to any stockholder who would be entitled to receive a fractional share as a result of the Reverse/Forward Stock Split:

 (i)

 Stockholders
 who held fewer than 500 shares immediately prior to the Reverse Stock Split were paid in cash (without interest) an amount equal
 to such number of shares of Company Common Stock held multiplied by the average of the closing sales prices of the Company Common
 Stock quoted on the National Quotation Bureau pink sheets for the five consecutive trading days immediately preceding the Effective
 Date of the Reverse Stock Split; and

 (ii)

 Any
 remaining stockholders who would have been entitled to receive fractions of a share as a result of the Reverse/Forward Stock Split
 were paid in cash (without interest) an amount equal to such fractions multiplied by the average of the closing sales prices of the
 Company Common Stock quoted on the National Quotation Bureau pink sheets for the five consecutive trading days immediately preceding
 the effective date of the Reverse/Forward Stock Split (with such average closing sales prices being adjusted to give effect to the
 Reverse/Forward Stock Split).

 Results
of Operations

Year. Our fiscal year end is on the Sunday closest to September 30 each year. The fiscal periods in this report are presented as
follows, unless the context otherwise requires:

 Year

 Ended

 Weeks

 2025

 2024

 The
following table sets forth, for the periods indicated, selected income statement data.

 2025

 2024

 $'s

 %
 of Total Revenue

 $'s

 %
 of Total Revenue

 Park

 $
 10,276,919

 98.1
 %

 $
 9,679,326

 97.7
 %

 Sale
 of animals

 194,656

 1.9
 %

 232,934

 2.3
 %

 Total

 10,471,575

 100.0
 %

 9,912,260

 100.0
 %

 Cost of sales (exclusive of depreciation and amortization)

 1,325,860

 12.7
 %

 1,412,678

 14.2
 %

 Selling,
 general and administrative

 6,840,160

 65.3
 %

 6,886,327

 69.5
 %

 8.5
 %

 8.8
 %

 (670,814
)

 -6.4
 %

 20.6
 %

 —

 0.0
 %

 (53,755
)

 -0.5
 %

 Legal

 —

 0.0
 %

 0.7
 %

 Other
 operating expenses, net

 0.3
 %

 0.6
 %

 (loss) from operations

 2,061,077

 19.6
 %

 (1,383,501
)

 -13.9
 %

 Other
 (income), net

 (78,573
)

 -0.8
 %

 (132,948
)

 -1.3
 %

 2.1
 %

 2.3
 %

 (loss)before income taxes

 1,920,309

 18.3
 %

 (1,479,797
)

 -14.9
 %

 tax expense (benefit)

 462,226

 4.4
 %

 (385,316
)

 -3.9
 %

 Net

 $

 13.9
 %

 $
 (1,094,481
)

 -11.0
 %

 Use
of Non-GAAP Financial Measures

 In
addition to our net income (loss) determined in accordance with GAAP, for purposes of evaluating operating performance, we report the
following non-GAAP measures: Adjusted net income (loss) and Adjusted EBITDA.

 We
believe presenting non-GAAP financial measures provides useful information to investors, allowing them to assess how the business performed
excluding the effects of significant non-recurring and non-operational items. We believe the use of the non-GAAP financial measures facilitates
comparing the results being reported against past and future results by eliminating amounts that we believe are not comparable between
periods and assists investors in evaluating the effectiveness of our operations and underlying business trends in a manner that is consistent
with management's own methods for evaluating business performance.

 The
methods we use to calculate our non-GAAP financial measures may differ significantly from methods other companies use to compute similar
measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies.
Adjusted net income (loss) and Adjusted EBITDA should not be used by investors or other third parties as the sole basis for formulating
investment decisions as these measures may exclude a number of important cash and non-cash recurring items.

net income (loss) is defined as net income (loss) excluding significant non-recurring or non-operational items as set forth below. While
adjusted net income (loss) is a non-GAAP measurement, management believes that it is an important indicator of operating performance
and useful to investors. Other significant non-recurring and non-operational items, while periodically affecting our results, may vary
significantly from period to period and have disproportionate effects in a given period, which affects comparability of results and are
described below:

 proxy and related matters, net – expenses incurred related to the contested proxy, as well as related directors and officers
 insurance proceeds for Fiscal 2025 and Fiscal 2024.

 expenses and write-offs, net – final insurance proceeds received for tornado recovery expenses for Fiscal 2024.

 Legal
 settlement – charge for payment of legal settlement for Fiscal 2024.

 The
following table sets forth, for the periods indicated, a reconciliation of Net income (loss) to Adjusted net income and Adjusted diluted
net income per share:

 2025

 2024

 Net

 $

 $
 (1,094,481
)

 (670,814
)

 —

 (53,755
)

 Legal

 —

 Tax
 impact (1)

 169,649

 (556,750
)

 net income (2)

 $
 956,918

 $
 410,824

 diluted net income per share (2)

 $
 1.27

 $
 0.54

 Diluted weighted
 average common shares outstanding (2)

 755,740

 756,770

 (1)

 The
 tax impact of adjustments is calculated at the applicable U.S. Federal and State statutory rates.

 (2)

 Prior
 period amounts have been adjusted to reflect the Reverse/Forward Stock Split that became effective on April 30, 2025. Refer to Note
 7, Stockholders Equity for further information about the Reverse/Forward Stock Split.

 While
Adjusted EBITDA is a non-GAAP measurement, management believes that Adjusted EBITDA is a meaningful measure as it is widely used by analysts,
investors and comparable companies in the entertainment and attractions industry to evaluate our operating performance on a consistent
basis, as well as more easily compare our results with those of other companies in our industry. We also believe Adjusted EBITDA is a
meaningful measure of park-level operating profitability. Adjusted EBITDA is a supplemental measure of our operating results and is not
intended to be a substitute for operating income, net income or cash flows from operating activities as defined under GAAP.

 Other
significant items, while periodically affecting our results, may vary significantly from period to period and have disproportionate effects
in a given period, which affects comparability of results and are described below:

 proxy and related matters, net – expenses incurred related to the contested proxy, as well as related directors and officers
 insurance proceeds for Fiscal 2025 and Fiscal 2024.

 expenses and write-offs, net – final insurance proceeds received for tornado recovery expenses for Fiscal 2024.

 Legal
 settlement – charge for payment of legal settlement for Fiscal 2024.

 Net
 gain or loss on disposal of property and equipment – disposal of property and equipment for Fiscal 2025 and Fiscal 2024.

 The
following table sets forth, for the periods indicated, selected income statement data and a reconciliation of our Net income (loss) to
Adjusted EBITDA:

 2025

 2024

 Net

 $

 $
 (1,094,481
)

 tax expense (benefit)

 462,226

 (385,316
)

 (670,814
)

 —

 (53,755
)

 Legal

 —

 Loss
 on disposal of property and equipment, net

 EBITDA

 $
 2,384,128

 $
 1,746,203

 Discussion
and Analysis

and Segment Results of Operations Fiscal 2025 as Compared to Fiscal 2024

 We
manage our operations on an individual park location basis. Discrete financial information is maintained for each park and provided to
our President, as CODM, for review and as a basis for decision making. The primary performance
measures used by the CODM to allocate resources is segment income/(loss), defined as park earnings before interest, tax, depreciation
and amortization, and free cash flow. We use segment income/(loss) and free cash flow as a measure of profitability to gauge segment
performance because we believe these measures are the most indicative of performance trends and overall earnings potential of each segment.

 The
following table shows our consolidated and segment operating results for Fiscal 2025 and Fiscal 2024:

 Park

 Park

 Texas
 Park

 2025

 Fiscal 2024

 2025

 2024

 2025

 2024

 2025

 2024

 Total

 $
 5,917,423

 $
 5,960,259

 $
 2,189,656

 $
 2,036,280

 $
 2,364,496

 $
 1,915,721

 $
 10,471,575

 $
 9,912,260

 Less
 significant expense categories (1):

 Cost
 of animal food, merchandise and food

 789,293

 747,473

 232,363

 276,729

 304,204

 388,476

 1,325,860

 1,412,678

 Other
 revenue driven costs (2)

 115,195

 158,815

 43,081

 46,632

 47,492

 46,729

 205,768

 252,176

 Personnel
 costs (3)

 1,377,831

 1,328,979

 726,050

 659,088

 688,096

 653,428

 2,791,977

 2,641,495

 and marketing

 301,687

 340,586

 240,204

 225,087

 333,429

 310,304

 875,320

 875,977

 Other
 segment expenses (4)

 1,077,753

 1,089,527

 372,367

 371,525

 453,578

 443,863

 1,903,698

 1,904,915

 income

 2,255,664

 2,294,879

 575,591

 457,219

 537,697

 72,921

 3,368,952

 2,825,019

 operating margin %

 38.1
 %

 38.5
 %

 26.3
 %

 22.5
 %

 22.7
 %

 3.8
 %

 32.2
 %

 28.5
 %

 Less:

 corporate expenses (5)

 1,063,397

 1,211,764

 (670,814
)

 —

 (53,755
)

 Legal

 —

 Other
 operating expenses, net

 Other
 (income), net

 (78,573
)

 (132,948
)

 before income taxes

 $
 1,920,309

 $
 (1,479,797
)

 (1)
The significant expense categories and amounts align with the segment -level information that is regularly provided to the CODM.

 (2) Other revenue
driven costs include credit card fees and other revenue processing costs driven by sales volume.

 (3)
Personnel costs include fixed and variable wages, benefits and employer taxes.

 (4)
Other segment expenses include all other operating expenses, including animal expenses, park and vehicle maintenance costs, insurance,
utilities, outside services, operating supplies and other miscellaneous expenses.

 (5) Unallocated corporate expenses include corporate personnel costs,
directors fees and compensation, directors and officers insurance, computer software and services, professional fees and public company
related expenses.

 Total
Revenues

 2024

 2025

 Actual

 Proforma

 $
 5,821,867

 $
 5,878,833

 $
 5,842,370

 2,159,125

 2,008,244

 2,000,472

 Texas

 2,295,927

 1,792,249

 1,783,605

 Total
 Park revenue

 $
 10,276,919

 $
 9,679,326

 $
 9,626,447

 Results
of Operations

2025 compared with Fiscal 2024

 Total
Revenue and Park Revenue

 Total
revenue was $10.47 million in Fiscal 2025, an increase of $559,315 or 5.6%, compared to $9.91 million in Fiscal 2024.

 Park
revenue was $10.28 million in Fiscal 2025, an increase of $597,593 or 6.2%, compared to $9.68 million in Fiscal 2024.

 Animal
sales were $194,656 in Fiscal 2025, a decrease of $38,278 or 16.4%, compared to $232,934 in Fiscal 2024. The decrease is primarily driven
by the timing of animal sales at both our Texas Park and Georgia Park year over year.

 In
mid-January 2024 we completed the strategic switch to a new ticketing platform which we believe improves the guest experience while also
providing improved functionality for our park customer services teams. While this change had a net neutral impact on our profitability,
we no longer directly upcharge customer transaction fees which we previously reported in Park revenue. On a pro forma basis, adjusting
for the change to exclude customer transaction fees in Park revenue, our Fiscal 2025 Park revenue increased by $650,472 or 6.8% compared
to Fiscal 2024.

Park revenue was $5.82 million for Fiscal 2025, a decrease of $59,966 or 1.0% compared to $5.88 million during Fiscal 2024.The
decrease was primarily driven by lower attendance due to adverse and rainy weather conditions during consecutive days and weeks
during the third and fourth fiscal quarters. In addition, Fiscal 2025 excluded customer transaction fees in revenue due to the
switch to a new ticketing platform. On a pro forma basis, adjusting to exclude customer transaction fees in Park revenue, our Fiscal
2025 Georgia Park revenue decreased by $20,503 or 0.4%.

Park revenue was $2.16 million for Fiscal 2025, an increase of $150,881 or 7.5% compared to $2.01 million in Fiscal 2024. The
increase was primarily attributed to the effectiveness of new marketing strategies and a significant increase in our social media
presence to drive ticket sales. In addition, our revenue from animal encounters increased approximately 65% compared to Fiscal 2024
due to concerted efforts of management to allocate staff resources to offer more animal encounters to guests coupled with increased
social media centered around the animal encounters to promote awareness and excitement to customers. On a pro forma basis, adjusting
to exclude customer transaction fees in Park revenue, our Fiscal 2025 Missouri Park revenue increased by $158,653 or
7.9%.

 Texas
Park revenue was $2.30 million for Fiscal 2025, an increase of $503,678 or 28.1% compared to $1.79 million during Fiscal 2024. The
increase in revenue was driven by a positive response to new admission pass pricing in early May 2025 and effectiveness of new
marketing strategies as well as higher attendance during the Spring Break season that continued over the summer months. On a pro
forma basis, adjusting to exclude customer transaction fees in Park revenue, our Fiscal 2025 Texas Park revenue increased
$512,322 or 28.7%.

 Attendance

 Our Georgia
Park attendance during Fiscal 2025 decreased approximately 10.2% compared to Fiscal 2024. The adverse and rainy weather over
consecutive days and weeks negatively impacted attendance during our strongest attendance season of the third and fourth fiscal quarters.

 Attendance
at our Missouri Park during Fiscal 2025 increased by approximately 14.3% compared to Fiscal 2024. The increase was primarily
attributed to the effectiveness of new marketing strategies and a significant increase in our social media presence to drive ticket
sales.

 Our
Texas Park provided customers with free attendance promotions during First Quarter 2025 and we do not believe Fiscal 2025 attendance
is comparable to Fiscal 2024.

 Significant
Expenses

 Cost
of animal food, merchandise and food

cost of animal food, merchandise and food was $1.33 million in Fiscal 2025, a decrease of $86,818 or 6.1% compared to $1.41 million
in Fiscal 2024. The decrease was primarily attributed to the Georgia Park decrease in food service cost of sales which was in line
with the decline in food service revenue as well as the decrease in food service cost of sales at the Missouri Park due to no
longer offering full-service food service to guests in early October 2024. In addition, animal cost of sales decreased in Fiscal
2025 primarily due to reduced sales of purchased animals at the Texas Park compared to Fiscal 2024.

 Other
revenue driven costs

other revenue driven costs were $205,768 in Fiscal 2025, a decrease of $46,408 or 18.4% compared to $252,176 in Fiscal 2024. The
decrease was primarily due to the change in ticketing platform providers in mid-January 2024. Prior to the change, customer
transaction fees were recorded in Park revenue and then remitted to the third party and recorded as transaction processing
fees. Following the change in ticketing platform provider, the customer transaction fees are netted and handled by the
third-party ticketing platform provider.

 Personnel
costs

personnel costs were $2.79 million in Fiscal 2025, an increase of $150,482 or 5.7% compared to $2.64 million in Fiscal 2024. The
increase was in line with the increase in total revenue.

and marketing

 C onsolidated
advertising and marketing expenses were $875,320 in Fiscal 2025 compared to $875,977 in Fiscal 2024. The Company switched their advertising
agency in Fiscal 2025. The new advertising agency recommended a different mix of advertising and marketing strategies that included increased
social media and digital marketing spending in Fiscal 2025 compared to television and radio advertising in Fiscal 2024. Total advertising
and marketing decreased at the Georgia Park offset by an increase at both the Missouri Park and Texas Park to increase market
penetration and awareness in these markets.

 Other
segment expenses

other segment expenses were $1.90 million in Fiscal 2025, a decrease of $1,216 or 0.1% compared to $1.90 million in Fiscal 2024. The
decrease at the Georgia Park was primarily due to lower advertising and marketing, outside services, transaction processing fees and
vehicles expenses offset by higher park maintenance costs due to one-time demolition costs of an unoccupied house on the Georgia
Park grounds. The decrease at the Georgia Park was offset by an increase at our Texas Park driven by higher advertising and
marketing, veterinary costs and animal expenses, primarily due to an animal insurance policy purchased for a limited term
period for the transportation of a giraffe, offset by lower park maintenance costs during Fiscal 2025.

segment income was $3.37 million for Fiscal 2025, an increase of $540,933 or 19.3% from $2.83 million during Fiscal 2024.

Park segment income was $2.26 million for Fiscal 2025, a decrease of $39,215 or 1.7% from $2.29 million during Fiscal 2024. The decrease is primarily
driven by slightly lower Park revenue, primarily due to excluding transaction processing fees in Park revenue with change in ticketing platform provider, and higher staffing costs and park maintenance costs, due to one-time demolition costs of an unoccupied
house on the park property, offset by lower advertising and marketing, outside services, transaction
processing fees and vehicle expenses.

Park segment income was $575,591 for Fiscal 2025, an increase of $118,372 or 25.9% from $457,219 during Fiscal 2024. The increase in
segment income was driven by higher admission revenue and revenue from animal encounters offset by higher operating expenses,
primarily staffing costs and advertising and marketing expenses.

 Texas
Park segment income was $537,697 for Fiscal 2024, an increase of $464,776 from $72,921 during Fiscal 2024. The increase is primarily
driven by higher admission revenue, lower cost of sales offset by higher operating expenses, primarily advertising and marketing,
staffing costs, veterinary expenses and animal expenses, primarily due to an animal insurance policy purchased for a limited
policy period for the transportation of a giraffe.

Corporate Expenses

corporate expenses were $1.06 million for Fiscal 2025, a decrease of $148,367 or 12.2% compared to $1.21 million in Fiscal 2024.
The decrease was driven by lower salaries and wages, primarily severance costs, lower director fees, travel expenses and exclusion
of a one-time contract settlement fee included in Fiscal 2024 offset by higher professional fees, primarily audit fees.

and Amortization Expense

and amortization expense was $885,996 in Fiscal 2025, an increase of $14,029 or 1.6% compared to $871,967 in
Fiscal 2024. The increase is primarily attributed to higher depreciation expense for our Georgia Park primarily due to the new
restroom facility placed in service in Fiscal 2025, partially offset by lower depreciation expense for the Missouri Park and Texas
Park.

Proxy and Related Matters, net

Proxy and Related Matters, net was a credit of $670,814 in Fiscal 2025 compared to contested proxy and related matters, net expense
of $2.04 million in Fiscal 2024. The $670,814 credit in Fiscal 2025 included $567,157 of insurance proceeds received from our
directors and officers insurance during First Quarter 2025 and a credit of $103,657 was recognized in Third Quarter 2025 from the
reversal of previously accrued contested proxy legal fees that were waived as part of the full settlement of outstanding invoices. See
Note 3, Contested Proxy and Related Matter, to the Consolidated Financial Statements

Expenses and Write-offs, net

 As
a result of the tornado and severe weather damage at our Georgia Park in March 2023, during Fiscal 2024 we received the final
insurance proceeds of $53,755 related to the Georgia Park 2023 tornado event.

 Legal
Settlement

 We
entered into a settlement agreement and paid $75,000 during Fiscal 2024 to settle a lawsuit initiated by a former employee alleging
several instances of discrimination in employment. See Note 10, Commitments and Contingencies, to the Consolidated Financial
Statements.

 Other Operating Expenses, Net

 Other operating expenses, net
was $29,296 for Fiscal 2025, a decrease of $33,438 from $62,734 during Fiscal 2024. Fiscal 2025 includes the gain on the sale of
land at the Georgia Park offset by the loss on animal sales primarily at the Texas Park and a loss on animal exhibit design costs
that were abandoned at our Georgia Park. Fiscal 2024 primarily includes animal deaths prior to the end of their estimated life
expectancy and disposal of certain assets no longer useful to the business or deemed too costly to maintain or repair.

 Other
Income, Net

 Other
income, net was $78,573 for Fiscal 2025, a decrease of $54,375 compared to $132,948 in Fiscal 2024. The decrease is driven by lower interest
income related to the maturity of certificates of deposit during First Quarter 2025 and lower average money market balances compared
to Fiscal 2024 and higher non-operating expenses.

Expense

 Interest expense for Fiscal 2025 was $219,341, a decrease of $9,903 compared to $229,244 in Fiscal 2024. The 2021 Term Loan interest decreased
due to overall lower principal balances. The 2025 Term Loan was refinanced during First Quarter 2025 at a higher interest rate. The interest
rate on the 2025 Term Loan decreased by 50 basis points during Fiscal 2025 from the initial rate of 7.25% to 6.75% effective on September
18, 2025.

Taxes

 We
recorded income tax expense for Fiscal 2025 of $462,226 which resulted in an effective tax rate of 24.1% compared to an income tax benefit
of $385,316 for Fiscal 2024 which resulted in an effective tax rate of 26.0%. The overall effective tax rate varies from the U.S. federal
statutory rate of 21.0% primarily due to Georgia state taxes.

 Net
Income and Income Per Share

 As
a result of the above factors, Net income was $1.46 million, or basic and diluted earnings per share of $1.93 in Fiscal 2025 compared
to Net loss of $1.09 million, or basic and diluted loss per share of $1.45 in Fiscal 2024.

Net Income

 As
a result of the above factors, Adjusted net income was $956,918 and Adjusted diluted earnings per share was $1.27 in Fiscal 2025
compared to Adjusted net income of $410,824 and Adjusted diluted earnings per share of $0.54 in Fiscal 2024.

EBITDA

 As
a result of the above factors, Adjusted EBITDA was $2.38 million in Fiscal 2025, compared to $1.75 million in Fiscal 2024.

 Financial
Condition, Liquidity and Capital Resources

 Financial
Condition and Liquidity

 Our
primary sources of liquidity are cash generated by operations and borrowings under our loan agreements. Historically, our slow
season starts after Labor Day in September and runs until Spring Break period, which typically begins toward the end of March. The first
and second quarters of our fiscal year have historically generated negative cash flow, requiring us to use cash generated from prior
fiscal years, as well as borrowing on a seasonal basis, to fund operations and prepare our parks for the busy season during the
third and fourth quarters of our fiscal year.

 Our
working capital was $3.30 million as of September 28, 2025, compared to $1.60 million as of September 29, 2024. The year-over-year
increase in working capital primarily reflects a decrease in current liabilities related to the contested proxy and related matters
and reduction in the current portion of long-term debt attributed to the refinancing of the 2020 Term Loan to the 2025 Term Loan
during First Quarter 2025.

 Total
loan debt, including current maturities, as of September 28, 2025 was $3.19 million compared to $3.50 million as of September 29,
2024. The year-over-year decrease in total loan debt is primarily the result of scheduled term loan principal payments during Fiscal
Year 2025. The refinancing of the 2020 Term Loan to the 2025 Term Loan decreased the monthly principal payments by approximately
$34,000.

 As
of September 28, 2025, we had equity of $15.27 million and total loan debt of $3.19 million, resulting in a debt-to-equity ratio of 0.21
to 1.0, compared to 0.25 to 1.0 as of September 29, 2024.

 Operating
Activities

 Net
cash provided by operating activities was $2.11 million during Fiscal 2025, compared to $0.80 million during Fiscal 2024. The $1.31
million increase in cash provided by operating was attributed to the $2.56 million increase in net income and non-cash change in deferred taxes and changes in working capital primarily the year over year change in accounts payable for payments and
settlement of accounts payable associated with the contested proxy and related matters and year over year change in other accrued liabilities, primarily accrued professional fees, accrued wages and deferred
revenue. See Note 3, Contested Proxy and Related
Matters, to the Consolidated Financial Statements.

 Investing
Activities

 Net
cash used in investing activities was $260,072 during Fiscal 2025, compared to $1.63 million during Fiscal 2024 resulting in a net
decrease of $1,372,491. Our investing activity for Fiscal 2025 included cash provided of $838,442 from the maturity of short-term
investments in certificates of deposit during First Quarter 2025. Our investing activity for Fiscal 2024 included cash used of $1.0
million for the purchase of short-term investments in certificates of deposit during First Quarter 2024. Capital expenditures
for Fiscal 2025 were $1.28 million compared to $0.91 million during Fiscal 2024. The increase in capital expenditures is attributed
primarily to the construction of a restroom facility replacement and animal exhibit improvements at our Georgia
Park.

 In
Fiscal 2025, capital expenditures at our Georgia Park included completion of the restroom facility replacement and new carnivore
night house. We have received positive feedback from our guests regarding the new restroom facility. In addition, the big cat
exhibit and hyena exhibit were both upgraded. We added fencing around the perimeter of the park and walkabout loop and made various
infrastructure improvements, including pavement and culvert replacement, within the park. We also made upgrades to our walk-in
cooler for animal food and purchased used vehicles and an excavator that we previously rented. Fiscal Year 2024 capital expenditures
at our Georgia Park included various infrastructure improvements to roadways, fencing and sidewalks, several animal acquisitions, a
walk-in freezer, and improvements to several animal habitats. In Fiscal 2024, we started the new carnivore night house and restroom
facility replacement with each project completed in First Quarter 2025 and Second Quarter 2025, respectively.

 In
Fiscal 2025, capital expenditures at our Missouri Park included animal acquisitions, the addition of the giraffe feeding deck to
improve guest experience, as well as the addition of two stand-alone buildings located within the park for tickets and concessions. Fiscal 2024 capital
expenditures included a new nature path, including a walking bridge and fish feeding experience, a hay storage barn, as well as
various vehicles and equipment to improve operations.

 In
Fiscal 2025, capital expenditures at our Texas Park included a new playground structure added in the walkthrough adventure zoo as
well as repairs to existing drive-through tour buses that extended the useful life of the asset. Fiscal 2024 capital expenditures
included an upgrade to the electrical infrastructure, completion of a keeper building to improve the efficiency of operations, and a
hay storage barn to allow for more cost-effective hay purchasing.

 For Fiscal 2026, we plan to invest approximately $1.0
million in capital expenditures primarily for animal exhibit expansions and renovations and park infrastructure improvements.

 Financing
Activities

 Net
cash used in financing activities was $459,631 during Fiscal 2025, compared to $777,986 during Fiscal 2024 resulting in a decrease of
$318,355. During Fiscal 2025, the 2020 Term Loan was refinanced with the 2025 Term Loan during First Quarter 2025 resulting in net cash
provided of $110,456 offset by payments of $428,919 for scheduled term loan principal payments and term loan refinancing fees. Fiscal
2025 also includes cash used during Third Quarter 2025 of $141,168 for the payments of the fractional shares as part of the Reverse/Forward
Stock Split. Fiscal 2024 primarily included payments of $772,986 for scheduled term loan principal payments.

 Borrowing
Agreements

 On
June 18, 2021, through our wholly owned subsidiary Wild Animal – Georgia, we completed a refinancing transaction with Synovus
Bank. The 2021 Term Loan included an original principal amount of $1.95 million. The 2021 Term Loan bears interest
at a rate of 3.75% per annum and is payable in monthly installments of approximately $26,480, based on a seven-year amortization
period. The 2021 Term Loan has a maturity date of June 18, 2028. The 2021 Term Loan is secured by a security deed on the assets of
Wild Animal – Georgia. We paid a total of approximately $1,514 in fees and expenses in connection with the 2021 Refinancing.
The outstanding balance of the 2021 Term Loan was $0.83 million and $1.11 million as of September 28, 2025 and September 29, 2024, respectively.

 On
April 27, 2020, through our wholly owned subsidiary Aggieland-Parks Inc., we acquired Aggieland Wild Animal – Texas. In part,
this acquisition was financed with the 2020 Term Loan from First Financial Bank ("First Financial"). The 2020 Term Loan
in the original principal amount of $5.0 million from First Financial is secured by substantially all the Aggieland Wild Animal
– Texas assets, as well as guarantees from the Company and its subsidiaries. The 2020 Term Loan had an interest rate of 5.0%
per annum, had a maturity date of April 27, 2031, and required interest only monthly payments through April 2021. The 2020 Term Loan
required monthly payments of approximately $53,213 beginning in May 2021. We paid a total of approximately $62,375 in fees and
expenses in connection with the 2020 Term Loan. On June 30, 2021, the Company used the incremental proceeds of the 2021 Term Loan,
combined with additional funds, to pay down $1.0 million against the 2020 Term Loan, which had an outstanding balance of $2.39
million as of September 29, 2024. On September 30, 2024, the 2020 Term Loan with First Financial was fully paid off with the
proceeds of the 2025 Term Loan.

 On
September 30, 2024, Aggieland-Parks, Inc. completed a refinancing transaction of the 2025 Term Loan with Cendera Bank N.A. The 2025
Term Loan provided an original principal amount of $2.5 million, the proceeds of which were used to repay all the indebtedness under
the 2020 Term Loan, and bears interest at a daily adjusted rate equal to the Prime Rate minus 0.5%. The initial interest rate was
7.25%. As of September 28, 2025 the effective interest rate was at 6.75%. The 2025 Term Loan has a term of 10 years, with a 15-year
amortization, and a balloon payment of the outstanding principal balance due September 30, 2034. The initial monthly loan payment
was $23,200 and has been reduced with the decrease in the effective interest rate to $22,277 as of September 28, 2025.
Aggieland-Parks, Inc., paid approximately $60,716 of fees and expenses in connection with the 2025 Term Loan. The outstanding balance of the 2025 Term Loan was $2.41 million as of September 28, 2025.

 The 2025 Term Loan 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 Fund, LP, with Cendera Bank N.A. Geoffrey Gannon and Andrew Kuhn control Focused Compounding Fund, LP, and each serves
on the Board of the Company, and Mr. Gannon serves as the Company's President. Focused Compounding did not receive a fee or any other
benefit in connection with establishing the above-described cash collateral reserve. See Note 5, Long-term Debt to the
Consolidated Financial Statements.

 Off
Balance Sheet Arrangements

 We
do not have any off balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition,
revenues, results of operations, liquidity or capital expenditures.

 Critical
Accounting Policies and Estimates

 Our
discussion and analysis of financial condition and results of operations is based upon our consolidated financial statements, which have
been prepared in accordance with accounting principles generally accepted in the United States. Our significant accounting policies are
set forth in Note 2, Significant Accounting Policies of the Notes to the Consolidated Financial Statements included in this Annual
Report on Form 10-K, which should be reviewed as they are integral to understanding our results of operations and financial position.
Our critical accounting policies are periodically reviewed with the Audit Committee of the Board of Directors of the Company.

 The
preparation of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities,
revenues and expenses, and related disclosure of any contingent assets and liabilities. On an on-going basis, we evaluate our estimates,
including those related to long-lived assets, revenue recognition, income taxes, and contingencies and litigation. We base our estimates
on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which
form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources.
Although actual results historically have not deviated significantly from those determined using our estimates, our results of operations
or financial condition could differ, perhaps materially, from these estimates under different assumptions or conditions.

 Long-lived
Assets, including Property and Equipment

and equipment are stated at cost. Improvements and replacements are capitalized when they extend the useful life, increase capacity or
improve the efficiency of the assets. Repairs and maintenance are charged to expense as incurred. Depreciation of property and equipment
is provided on the straight-line method and is based on the estimated useful economic lives of the respective assets. We make subjective
assessments as to these useful lives for purposes of determining the amount of depreciation to record annually with respect to our investments
in property and equipment. These assessments have a direct impact on our net income or loss, as a change in the estimated useful economic
lives of our investments in property and equipment would increase or decrease depreciation expense, thereby decreasing or increasing
net income or loss. We review long-lived assets whenever circumstances change such that the recorded value of an asset may not be recoverable
and therefore impaired.

 Revenue
Recognition

 We
recognize revenues when a performance obligation has been satisfied by transferring control of promised services or products to our customers
in an amount that reflects the amount we have received or expect to receive in exchange for those services or products. Park admission
revenues for annual passes and memberships are deferred and recognized as revenue on a pro-rata basis over the term of the pass or membership.
Park admission fee revenues from advance online ticket purchases are deferred until the customers' visit to the parks. Advance
online tickets can generally be used anytime during the one year period from the date of purchase. Revenues from retail and concession
sales are generally recognized upon the concurrent receipt of payment and delivery of goods to the customer. Sales taxes billed and collected
are not included in revenue.

 Accounting
for Income Taxes

 We
account for income taxes under the asset and liability method, under which deferred tax assets and liabilities are recognized for the
anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax bases using
enacted tax rates in effect for the year in which the differences are expected to reverse. We review our deferred tax assets to determine
whether their value can be realized based upon available evidence. A valuation allowance is established when we believe that it is more
likely than not that some portion of our deferred tax assets will not be realized.

 Significant
judgment is required in determining our provision or benefit for income taxes, our deferred tax assets and liabilities, and any valuation
allowance recorded against our net deferred tax assets. We record deferred tax assets, primarily resulting from net operating loss carryforwards
to the extent we believe these assets will more likely than not be realized. In making such a determination, we consider all available
evidence, including scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent
results of operations. In the event we determine it is more likely than not we will not realize our deferred tax assets we establish
a valuation allowance.

 Cautionary
Statement Regarding Forward-Looking Information

 Except
for the historical information contained herein, this Annual Report contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking
statements involve risks and uncertainties, including, among other things, statements concerning: our business strategy; liquidity and
capital expenditures; future sources of revenue and anticipated costs and expenses; and trends in industry activity generally. Such forward-looking
statements include, among others, those statements including the words such as "may," "will," "should,"
"expect," "plan," "could," "anticipate," "intend," "believe,"
"estimate," "predict," "potential," "goal," or "continue" or similar language
or by discussions of our outlook, plans, goals, strategy or intentions.

 Forward-looking
statements are based on beliefs and assumptions made by management using currently available information and are only predictions and
are not guarantees of future performance, actions or events. Our actual results may differ significantly from those projected in the
forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors,
including, but not limited to, risks that may cause our actual results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements.
For example, assumptions that could cause actual results to vary materially from future results include but are not limited to: competition
from other parks, inclement weather conditions during our primary tourist season, the price of animal feed and the price of gasoline.
Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, we cannot
guarantee future results, levels of activity, performance or achievements. These risks and uncertainties include those risks, uncertainties
and factors discussed in the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended September
28, 2025.

 The
forward-looking statements we make in this Annual Report are based on management's current views and assumptions regarding future
events and speak only as of the date of this report. We assume no obligation to update any of these forward-looking statements to reflect
actual results, changes in assumptions or changes in other factors affecting these forward-looking statements, except as required by
applicable law, including the securities laws of the United States and the rules and regulations of the SEC.

 All
prior period share and per share information contained in this Annual Report gives effect to the Reverse/Forward Stock Split that became
effective on April 30, 2025.

 ITEM
7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 Not
applicable

 ITEM
8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

 Our
financial statements and related notes are set forth on pages F-1 through F-19.

 ITEM
9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

 None

 ITEM
9A. CONTROLS AND PROCEDURES

 Evaluation
of Disclosure Controls and Procedures

 With
the participation of the principal executive officer and principal financial officer of Parks! America, Inc. (the "Registrant"),
the Registrant's management has evaluated the effectiveness of the Registrant's disclosure controls and procedures, as required
by Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as of the end of the fiscal year
covered by this Annual Report on Form 10-K. Based upon that evaluation, the Registrant's principal executive officer and principal
financial officer have concluded that the Registrant's disclosure controls and procedures were effective as of the end of the fiscal
year covered by this Annual Report on Form 10-K.

 Management's Annual Report on Internal Control over Financial Reporting

 Overview

 Management
of the Company is responsible for establishing and maintaining adequate internal control over financial reporting. Internal control over
financial reporting is defined in Rule 13a-15(f) or 15d-15(f) promulgated under the Exchange Act as a process designed by, or under the
supervision of, the Company's principal executive and principal financial officers and effected by the Company's board of
directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with accounting principles generally accepted in the United States and includes
those policies and procedures that:

 1.

 Pertain
 to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets
 of the Company;

 2.

 Provide
 reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with
 accounting principles generally accepted in the United States and that receipts and expenditures of the Company are being made only
 in accordance with authorizations of management and directors of the Company; and

 3.

 Provide
 reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's
 assets that could have a material effect on the financial statements.

 Because
of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Even those systems determined
to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation. Because of the
inherent limitations of internal control, there is a risk that material misstatements may not be prevented or detected on a timely basis
by internal control over financial reporting. However, these inherent limitations are known features of the financial reporting process.
Therefore, it is possible to design safeguards into the process to reduce this risk.

 Management
based its assessment of the Company's internal control over financial reporting on criteria established in Internal Control
– Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on its
assessment, management has concluded that the Company's disclosure controls and procedures and internal control over financial
reporting are effective as of September 28, 2025.

 Changes in Internal Control over Financial Reporting

 There
has been no change in our internal control over financial reporting, as defined in Rules 13a-15(f) of the Exchange Act, during our most
recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial
reporting as of September 28, 2025.

 ITEM
9B. OTHER INFORMATION

 Security
Trading Plans of Directors and Executive Office r s

 None of the Company's directors or executive officers adopted or terminated a Rule 10b5-1 trading arrangement
or a non-Rule 10b5-1 trading arrangement during the Company's fiscal quarter ended September 28, 2025, as such terms are defined
under Item 408(a) or Regulation S-K.

 ITEM
9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

 Not
applicable

 PART
III

 ITEM
10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

required by Item 10 with respect to directors, the audit committee, audit committee financial experts and Section 16(a) beneficial
ownership reporting compliance is included under the headings "Proposal 1. Election of Directors," "Corporate
Governance" and in the biographies of the directors contained in "Proposal 1. Election of Directors," in our
definitive proxy statement for our annual meeting of stockholders (the "2026 Proxy
Statement") which are incorporated herein by reference. With regard to the information required by this item regarding
compliance with Section 16(a) of the Exchange Act, we will provide disclosure of delinquent Section 16(a) reports, if any, in our
2026 Proxy Statement under the heading "Other Information - Delinquent Section 16(a) Reports', and such disclosure, if
any, is incorporated herein by reference. The information required by Item 10 with respect to insider trading arrangements and
policies is included under the heading "Proposal 1. Election of Directors," "Corporate Governance" in the
2026 Proxy Statement, and such disclosure is incorporated herein by reference. The 2026 Proxy Statement will be filed within 120
days after the end of our fiscal year.

 The
information required by this Item 10 regarding the Company's executive officers is set forth under the heading
"Information on Directors, Nominees, and Executive Officers" in "Proposal 1. Election of Directors" of the 2026 Proxy Statement.

 Parks!
America, Inc. has adopted a Code of Conduct which applies to all employees, including our principal executive officer, principal financial
officer and its Board of Directors. The code of conduct is a code of ethics as defined in Item 406 of SEC Regulation S-K. The codes of
conduct are available on the Corporate Governance section under Investor Relations on our website at www.parksamerica.com. Any
amendment to, or waiver from, a provision of the code of conduct will be posted to the above-referenced website.

 There
were no changes to the process by which stockholders may recommend nominees to the Board of Directors during the last year.

 Stock
Option and Award Plan

 A
Stock Option and Award Plan (the "Plan") providing for incentive stock options and performance bonus awards for executives,
employees, and directors was approved by our Board of Directors on February 1, 2005, however, the Plan expired and therefore was not
submitted to the stockholders for approval. The Plan was established to set aside five million (5,000,000) shares for award of stock
options, including qualified incentive stock options and performance stock bonuses. To date, no grants or awards were made pursuant to
the Plan and the Plan expired and we did not submit the Plan for consideration to the Company's stockholders.

 ITEM
11. EXECUTIVE COMPENSATION

 The
information required by this item is set forth in our 2026 Proxy Statement to be filed within 120 days of the end of the fiscal year
ended September 28, 2025, under Proposal 1. Election of Directors (i) under the heading "Director Compensation," and (ii)
under the heading "Executive Compensation," and is incorporated herein by reference. The material incorporated herein by
reference to the information set forth under the heading "Director Compensation" and "Executive Compensation" of
the 2026 Proxy Statement shall be deemed furnished, and not filed, in this Annual Report on Form 10-K and shall not be deemed
incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as
amended, as a result of this furnishing except to the extent that it is specifically incorporated by reference by the
Company.

 ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

regarding security ownership of certain beneficial owners and management is incorporated herein by reference to the material under the
heading "Item 1. Election of Directors – Security Ownership of Certain Beneficial Owners and Management" of the 2026 Proxy
Statement.

 ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

regarding certain relationships and related transactions and director independence is incorporated herein by reference to the
material under the headings "Corporate Governance" and "Certain Relationships and Related Transactions" of
the 2026 Proxy Statement.

 ITEM
14. PRINCIPAL ACCOUNTANT FEES AND SERVICES

 Audit
Fees and Audit-Related Fees

regarding principal accountant fees and services is incorporated herein by reference to the material under the heading "Proposal 2,
Ratification of Appointment of the Auditor"
of the 2026 Proxy Statement.

 PART
IV

 ITEM
15. EXHIBITS

 3.1

 Articles
 of Incorporation of Great American Family Parks, Inc. dated July 17, 2002 (incorporated by reference to the Registration Statement
 on Form SB-2 filed with the Securities and Exchange Commission on August 4, 2005).

 3.2

 Amended
 Articles of Incorporation of Great American Family Parks, Inc. dated January 26, 2004 (incorporated by reference to the Registration
 Statement on Form SB-2 filed with the Securities and Exchange Commission on August 4, 2005).

 3.3

 Bylaws
 of Great American Family Parks, Inc. dated January 30, 2004 (incorporated by reference to the Registration Statement on Form SB-2
 filed with the Securities and Exchange Commission on August 4, 2005).

 3.4

 Great
 American Family Parks 2005 Stock Option Plan dated February 1, 2005 (incorporated by reference to the Registration Statement on Form
 SB-2 filed with the Securities and Exchange Commission on August 4, 2005).

 3.5

 Amended
 Bylaws of the Company, as of January 17, 2011 (incorporated by reference to the Annual Report on Form 10-KT filed by the Company
 on December 29, 2012).

 3.6

 Amended
 Bylaws of the Company as of June 12, 2012 (incorporated by reference to the Report on Form 8-K filed by with the Securities and Exchange
 Commission on July 16, 2012).

 3.7

 Certificate of Amendment to the Articles of Incorporation of Parks! America, Inc., filed with the Secretary of State of the State of Nevada on April 10, 2025 (effecting the Reverse Stock Split as of April 30, 2025, and incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K filed with the SEC on April 30, 2025).

 3.8

 Certificate of Amendment to the Articles of Incorporation of Parks! America, Inc., filed with the Secretary of State of the State of Nevada on April 10, 2025 (effecting the Forward Stock Split as of April 30, 2025, and incorporated by reference to Exhibit 3.2 of the Company's Current Report on Form 8-K filed with the SEC on April 30, 2025).

 4.1*

 Description of Securities Registered Under Section 12 of the Exchange Act.

 10.1

 Loan Agreement between AggieLand-Parks, Inc. and Cendera Bank, N.A. (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed with the SEC on October 4, 2024).

 10.2

 Promissory Note made by AggieLand-Parks, Inc. in favor of Cendera Bank, N.A. (incorporated by reference to Exhibit 10.2 of the Company's Current Report on Form 8-K filed with the SEC on October 4, 2024).

 10.3

 Deed of Trust Security Agreement and Financing Statement made by AggieLand-Parks, Inc. in favor of Cendera Bank, N.A. (incorporated by reference to Exhibit 10.3 of the Company's Current Report on Form 8-K filed with the SEC on October 4, 2024).

 10.4

 Letter from Parks! America, Inc. to Rebecca (Becky) McGraw relating to employment, dated December 23, 2024. (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 10-Q filed with the SEC on May 9, 2025. ***

 14.1

 Code of Conduct (incorporated by reference to Exhibit 14.1 to the Company's Annual Report on Form 10-K for the fiscal year ended September 29, 2024 filed with the SEC on December 13, 2024).

 14.2*

 Amended and Restated Policy on Insider Trading.

 21.1*

 Subsidiaries
 of the Registrant.

 23.1*

 Consent of GBQ Partners LLC dated December 12, 2025.

 31.1*

 Certification
 by Chief Executive Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act, promulgated pursuant to Section 302
 of the Sarbanes-Oxley Act of 2002.

 31.2*

 Certification
 by Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act, promulgated pursuant to Section 302
 of the Sarbanes-Oxley Act of 2002.

 32.1**

 Certification
 by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title
 18 of the United States Code, promulgated pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 32.1**

 Certification
 by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title
 18 of the United States Code, promulgated pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 101.INS

 101.SCH

 101.CAL

 101.DEF

 101.LAB

 101.PRE

 Cover

 *

 Filed
 herewith

 **

 Furnished
 herewith

 ***

 Indicates
 management contract or compensatory plan or arrangement.

 SIGNATURES

 In
accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf as of December
12, 2025 by the undersigned, thereunto duly authorized.

 AMERICA, INC.

 By:

 /s/
 Geoffrey Gannon

 Geoffrey
 Gannon

 President

 (Principal
 Executive Officer)

 In
accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities
and on the dates indicated.

 SIGNATURE

 TITLE

 DATE

 By:

 /s/
 Geoffrey Gannon

 President
 and Director

 Geoffrey
 Gannon

 (Principal
 Executive Officer)

 By:

 /s/
 Andrew Kuhn

 Andrew
 Kuhn

 Director

 By:

 /s/
 Jacob McDonough

 Jacob
 McDonough

 Secretary
 and Director

 By:

 /s/
 Matthew Hansen

 Matthew
 Hansen

 Director

 By:

 /s/
 Rebecca S. McGraw

 Chief
 Financial Officer

 Rebecca
 S. McGraw

 (Principal
 Financial Officer)

 ITEM

TO CONSOLIDATED FINANCIAL STATEMENTS

 Financial Statements of Parks! America and Subsidiaries

 Page

 Report of Independent Registered Public Accounting Firm PCAOB ID 1808

 Consolidated Balance Sheets as of September 28, 2025 and September 29, 2024

 Consolidated Statements of Operations for the years ended September 28, 2025 and September 29, 2024

 Consolidated Statement of Changes in Stockholders' Equity for the years ended September 28, 2025 and September 29, 2024

 Consolidated Statements of Cash Flows for the years ended September 28, 2025 and September 29, 2024

 Notes to the Consolidated Financial Statements

 F- 1

 B oard
of Directors and Shareholders

 Parks!
America, Inc.

 Report
of Independent Registered Public Accounting Firm

 Opinion
on the Consolidated Financial Statements

 We
have audited the accompanying consolidated balance sheets of Parks! America, Inc. (the "Company") as of September 28, 2025
and September 29, 2024, the related consolidated statements of operations, stockholders' equity, and cash flows for the years then
ended, and related notes (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated
financial statements present fairly, in all material respects, the financial position of the Company as of September 28, 2025 and September
29, 2024, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally
accepted in the United States of America.

 Basis
for Opinion

 These
consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion
on these consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting
Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Company in accordance with
the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.
The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part
of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing
an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

 Our
audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether
due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that our audits provide a reasonable basis for our opinion.

 Critical
Audit Matters

 Critical
audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be
communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and
(2) involved our especially challenging, subjective, or complex judgments. We determined that there were no critical audit matters.

 /s/
 GBQ Partners LLC

 GBQ
 Partners LLC

 We
have served as the Company's auditor since 2020.

 Columbus,
Ohio

 F- 2

 CONSOLIDATED
BALANCE SHEETS

 ASSETS

 Cash
 and cash equivalents

 $
 3,877,394

 $
 2,489,294

 Short-term
 investments

 —

 835,074

 Accounts
 receivable, net

 18,293

 63,784

 Inventories, net

 313,556

 372,401

 expenses

 231,678

 396,308

 Total
 current assets

 4,440,921

 4,156,861

 and equipment, net

 15,023,230

 14,829,612

 Intangible
 assets, net

 22,615

 33,011

 tax asset, net

 —

 156,012

 Other
 assets

 12,676

 18,575

 TOTAL
 ASSETS

 $
 19,499,442

 $
 19,194,071

 LIABILITIES
 AND STOCKHOLDERS' EQUITY

 Current
 liabilities

 Accounts
 payable

 $
 92,608

 $
 1,281,966

 Other
 current liabilities

 667,243

 466,155

 Current
 portion of long-term debt, net

 397,830

 809,892

 Total
 current liabilities

 1,157,681

 2,558,013

 Long-term
 debt, net

 2,787,718

 2,687,831

 tax liability, net

 288,901

 —

 TOTAL
 LIABILITIES

 4,234,300

 5,245,844

 STOCKHOLDERS'
 EQUITY

 Preferred stock, par
 value $.001 – authorized: 10,000,000 shares; zero
 shares issued and outstanding

 —

 —

 stock, par value $.001 – authorized: 300,000,000 shares; 753,577 and 757,660 shares issued and outstanding, respectively (1)

 Capital in excess
 of par (1)

 5,093,567

 5,234,732

 Retained
 earnings

 10,170,821

 8,712,738

 TOTAL
 STOCKHOLDERS' EQUITY

 15,265,142

 13,948,227

 TOTAL
 LIABILITIES AND STOCKHOLDERS' EQUITY

 $
 19,499,442

 $
 19,194,071

 (1)
 Prior period amounts have been adjusted to reflect the Reverse/Forward Stock Split that became effective on April 30, 2025. Refer to Note
7, Stockholders Equity for further information about the Reverse/Forward Stock Split.

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 3

 CONSOLIDATED
STATEMENTS OF OPERATIONS

 For
the Fiscal Years Ended September 28, 2025 and September 29, 2024

 2025

 2024

 Park

 $
 10,276,919

 $
 9,679,326

 Sale
 of animals

 194,656

 232,934

 Total

 $
 10,471,575

 9,912,260

 Cost of sales (exclusive of depreciation and amortization)

 1,325,860

 1,412,678

 Selling,
 general and administrative

 6,840,160

 6,886,327

 ( 670,814
)

 —

 ( 53,755
)

 Legal

 —

 Other
 operating expenses, net

 (loss) from operations

 $
 2,061,077

 ( 1,383,501
)

 Other
 (income), net

 ( 78,573
)

 ( 132,948
)

 (loss) before income taxes

 1,920,309

 ( 1,479,797
)

 tax expense (benefit)

 462,226

 ( 385,316
)

 NET
 INCOME (LOSS)

 $

 $
)

 NET
 INCOME (LOSS) PER COMMON SHARE - BASIC AND DILUTED (1)

 $
 1.93

 $
 ( 1.45
)

 Weighted
 average shares outstanding - basic and diluted (1)

 755,740

 756,770

 (1)

 Prior
 period amounts have been adjusted to reflect the Reverse/Forward Stock Split that became effective on April 30, 2025. Refer to Note
 7, Stockholders Equity for further information about the Reverse/Forward Stock Split.

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 4

 CONSOLIDATED
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY

 For
the Fiscal Years Ended September 28, 2025 and September 29, 2024

 Shares
 (1)

 Amount
 (1)

 of
Par (1)

 Earnings

 Total

 Stock Issued

 Capital
 in Excess

 Retained

 Shares
 (1)

 Amount
 (1)

 of
Par (1)

 Earnings

 Total

 at October 1, 2023

 755,179

 5,177,234

 9,807,219

 14,985,208

 Net
 loss

 —

 —

 —

)

)

 Stock-based compensation expense

 2,091

 57,498

 —

 57,500

 at September 29, 2024

 757,270

 5,234,732

 8,712,738

 13,948,227

 757,270

 5,234,732

 8,712,738

 13,948,227

 Net
 income

 —

 —

 —

 Net

 —

 —

 —

 Reverse/Forward Stock Split (2)

 ( 3,693
)

 ( 3
)

 ( 141,165
)

 —

 ( 141,168
)

 at September 28, 2025

 753,577

 5,093,567

 10,170,821

 15,265,142

 753,577

 5,093,567

 10,170,821

 15,265,142

 (1)
 Prior
 period amounts have been adjusted to reflect the Reverse/Forward Stock Split that became
 effective on April 30, 2025. Refer to Note 7, Stockholders Equity for further information
 about the Reverse/Forward Stock Split.

 (2)
 Cash paid for fractional shares. Refer to Note 7, Stockholders
 Equity for further information about the Reverse/Forward Stock Split.

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 5

 CONSOLIDATED
STATEMENTS OF CASH FLOWS

 For
the Fiscal Years Ended September 28, 2025 and September 29, 2024

 2025

 2024

 CASH
 FLOWS FROM OPERATING ACTIVITIES

 Net

 $

 $
)

 Adjustments
 to reconcile net income (loss) to net cash provided by operating activities:

 and amortization expense

 Amortization of debt issuance costs

 6,288

 48,219

 Stock-based
 compensation

 —

 57,500

 accrued on certificates of deposit

 ( 3,368
)

 ( 35,074
)

 income taxes

 444,913

 ( 388,341
)

 Loss
 on disposal of property and equipment, net

 Change
 in operating assets and liabilities:

 Accounts receivable, net

 45,491

 ( 27,612
)

 Inventories, net

 58,845

 46,748

 Prepaid expenses and other

 170,529

 162,370

 Accounts payable

 ( 1,189,358
)

 1,202,614

 Other current liabilities

 201,088

 ( 105,188
)

 Net
 cash provided by operating activities

 2,107,803

 801,456

 CASH
 FLOWS FROM INVESTING ACTIVITIES:

 Proceeds from maturity
 of short-term investments

 838,442

 200,000

 Purchases of short-term investments

 —

 ( 1,000,000
)

 Acquisition
 of property and equipment

 ( 1,276,822
)

 ( 906,955
)

 Proceeds
 from the disposition of property and equipment

 178,308

 74,392

 Net
 cash used in investing activities

 ( 260,072
)

 ( 1,632,563
)

 CASH
 FLOWS FROM FINANCING ACTIVITIES:

 Payoff
 of 2020 Term Loan

 ( 2,389,544
)

 —

 Proceeds
 from 2025 Term Loan

 2,500,000

 —

 Proceeds
 from Term Loan

 2,500,000

 —

 on 2020 Term Loan

 —

 ( 503,121
)

 on 2021 Term Loan

 ( 280,447
)

 ( 269,865
)

 on 2025 Term Loan

 ( 87,756
)

 —

 on Term Loan

 ( 87,756
)

 —

 for 2025 Term Loan debt issuance costs

 ( 60,716
)

 —

 of Term Loan debt issuance costs

 ( 60,716
)

 —

 Payment
 of lines of credit fees

 —

 ( 5,000
)

 Reverse/Forward Stock Split payments of fractional shares

 ( 141,168
)

 —

 Net
 cash used in financing activities

 ( 459,631
)

 ( 777,986
)

 NET
 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

 1,388,100

 ( 1,609,093
)

 CASH
 AND CASH EQUIVALENTS:

 Beginning
 of period

 2,489,294

 4,098,387

 End
 of period

 $
 3,877,394

 $
 2,489,294

 SUPPLEMENTAL
 CASH FLOW INFORMATION:

 Cash
 paid for interest

 $
 201,729

 $
 187,663

 Cash
 (refunded) for income taxes

 $
 ( 68,842
)

 $
 ( 338,290
)

 The
accompanying notes are an integral part of these consolidated financial statements.

 F- 6

 NOTES

 NOTE
1. BACKGROUND AND BASIS OF PRESENTATION

 Description
of Business

 Parks!
America, Inc. ("Parks!" or the "Company") owns and operates through wholly owned subsidiaries 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"), Wild Animal, Inc., a Missouri corporation ("Wild Animal – Missouri"), and Aggieland-Parks,
Inc., a Texas corporation ("Aggieland Wild Animal – Texas"). Wild Animal – Georgia owns and operates the Wild
Animal Safari Pine Mountain located in Pine Mountain, Georgia (the "Georgia Park"). Wild Animal – Missouri owns and
operates the Wild Animal Safari Springfield located in Strafford, Missouri (the "Missouri Park"). Aggieland Wild Animal –
Texas owns and operates the Aggieland Safari located near Bryan/College Station, Texas (the "Texas Park").

 Terms
that are commonly used in the Company's Notes to the Consolidated Financial Statements are defined as follows:

 "2020 Term Loan" – Term loan credit agreement, dated as of April 27, 2020, between the Company and First Financial
Bank.

 "2021 Term Loan" – Term loan credit agreement, dated as of June 18, 2021, between the Company and Synovus Bank.

 "2025 Term Loan" – Term loan credit agreement, dated as of September 30, 2024, between the Company and Cendera Bank
N.A.

 " Adjusted EBITDA" – Net income (loss) appearing
on the Consolidated Statements of Operations net of Income tax expense/(benefit), Interest expense, Depreciation and amortization and
other significant items.

 "Adjusted net income (loss)" – Net income
(loss) appearing on the Consolidated Statements of Operations excluding significant non-recurring or non-operational items. Adjusted
net income (loss) is also presented on a diluted per share basis.

 "EPS" – Earnings per share.

 "Fiscal 2026" – The 52 weeks ending September
27, 2026.

 "Fiscal 2025" – The 52 weeks ended September
28, 2025.

 " Fiscal 2024" – The 52 weeks ended September
29, 2024.

 " 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.

 "SEC" – The United States Securities and
Exchange Commission.

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

 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."

 Basis
of Presentation

 The
Consolidated Financial Statements include the accounts of Parks! America, Inc. and its wholly owned subsidiaries (Wild Animal –
Georgia, Wild Animal – Missouri and Aggieland Wild Animal – Texas). All intercompany transactions and balances have been
eliminated.

 The
accompanying Consolidated Financial Statements have been prepared in accordance with GAAP. In the opinion of management, all material adjustments are of a normal and recurring nature
necessary for a fair presentation of the results have been reflected for the periods presented. In the opinion of management, all disclosures
made are adequate to make the information presented not misleading.

 Change in Capital Structure

 As described fully in Note 7, Stockholders Equity,
effective April 30, 2025, the Company effected a 1-for-500 reverse stock split of the shares of the Company's common stock, followed
immediately by a 5-for-1 forward stock split of the shares of the Company's common stock, herein referred to as the Reverse/Forward
Stock Split. All prior period share and per share amounts presented in the Consolidated Financial Statements and accompanying
notes, including, but not limited to, shares issued and outstanding, dollar amounts of common stock, capital in excess of par, and earnings/(loss)
per share, have been retroactively adjusted for all periods presented in order to reflect this change in capital structure. There were
no changes to the total number of authorized shares of common stock or their respective par values per share as a result of this change.

 NOTE
2. SIGNIFICANT ACCOUNTING POLICIES

Year End

 The
Company's fiscal year-end is the Sunday closest to September 30. This fiscal calendar aligns the Company's fiscal periods
closely with the seasonality of its business. The period from October through early March is geared towards maintenance and preparation
for the next busy season, which typically begins in the latter half of March through early September. The high season typically ends
after the Labor Day holiday weekend. The fiscal periods in this report are presented as follows, unless the context otherwise requires:

 Year

 Ended

 Weeks

 2025

 2024

 Seasonality

 The
Company's 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. The Company 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.

 Accounting
Method

 The
Company recognizes income and expenses based on the accrual method of accounting.

 Use
of Estimates

 Management
uses estimates and assumptions in preparing financial statements in accordance with GAAP. Those estimates and assumptions affect the
reported amounts of the assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses.
Actual results could vary from the estimates that were assumed in preparing these financial statements.

 F- 7

 NOTES

 NOTE
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

 Cash
and Cash Equivalents

 The
Company maintains its cash and cash equivalents with high credit quality financial institutions. The Company considers all highly liquid
financial instruments with maturities of three months or less to be cash equivalents. The Company maintains cash and cash equivalents
in deposit accounts which may at times exceed federally insured limits. As of September 28, 2025 and September 29, 2024, cash and cash
equivalents consisted of cash on deposit and money market accounts.

 Short-term
Investments

 The
Company periodically invests in certificates of deposit and classifies its certificates of deposit as cash and cash equivalents or short-term
investments and reassesses the appropriateness of the classification of its investments at the end of each reporting period. Certificates
of deposit held for investment with an original maturity date greater than three months are carried at amortized cost and reported as
short-term investments on the consolidated balance sheets. As of September 28, 2025 the Company had no short-term investments. As of September 29, 2024, the Company
had $ 835,074 in
two certificates of deposit, including accrued interest, classified as short-term investments. These certificates of deposit secure lines
of credit, as detailed in Note 6, Lines of Credit.

 Financial and Concentrations Risk

 The Company does not have any concentration or related
financial credit risks. The Company maintains its cash in bank deposit accounts, which at times may exceed federally insured limits.

 Accounts
Receivable

 The
parks are primarily a payment upfront business, therefore, the Company typically carries limited accounts receivable balances. The
Company had accounts receivable of $ 18,293, $ 63,784 and
$ 36,172 as of September 28, 2025, September 29, 2024 and October 1, 2023, respectively. The accounts receivable balance as of
September 29, 2024 includes a receivable in the amount of $ 50,000
for insurance proceeds from directors and officers insurance as more fully described in Note 3, Contested Proxy and Related
Matters.

 Inventory

 Inventory
consists of gift shop items, animal food, and concession and park supplies, and is stated at the lower of cost or net realizable
value. Cost is determined based on the first-in, first-out method. The Company maintains an inventory obsolescence reserve to reduce the carrying value of inventory for items that
are slow-moving, excess, or obsolete. The reserve is based on management's assessment of current inventory levels, historical usage,
forecasted demand, and market conditions. Adjustments to the reserve are recorded in cost of goods sold in the period identified. The
Company recorded an inventory reserve for obsolescence in the amount of $ 49,000 as of September 28, 2025 and September 29, 2024, respectively.

Expenses

 The
Company prepays certain expenses primarily due to contractual requirements. Prepaid expenses consisted of the following:

 SCHEDULE OF PREPAID EXPENSES

 insurance

 $
 145,144

 $
 272,213

 income taxes

 33,796

 118,695

 advertising and marketing

 24,108

 —

 Other

 28,630

 5,400

 Total
 prepaid expenses

 $
 231,678

 $
 396,308

 F- 8

 NOTES

 NOTE
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

and Equipment

and equipment are recorded at cost, less accumulated depreciation. Additions and substantial improvements are capitalized and include
expenditures that materially extend the useful lives of the existing facilities and equipment. Maintenance and repairs that do not materially
improve or extend the useful lives of the respective assets are expensed as incurred. As of the balance sheet dates, Property and equipment,
net consisted of the following:

 SCHEDULE OF PROPERTY, PLANT AND EQUIPMENT

 Depreciable
 Lives

 Land

 6,260,506

 $
 6,389,470

 not
 applicable

 Mineral
 rights

 276,000

 276,000

 years

 Ground
 improvements

 3,433,711

 3,255,128

 7 - 25
 years

 Buildings
 and structures

 4,938,115

 4,014,706

 10 - 39
 years

 Animal
 shelters and habitats

 3,766,540

 3,532,143

 10 - 39
 years

 Park
 animals

 1,100,472

 1,236,921

 5 - 25
 years

 Equipment
 - concession and related

 513,616

 512,967

 3 - 15
 years

 Equipment
 and vehicles - yard and field

 713,974

 744,538

 3 - 15
 years

 Vehicles
 - buses and rental

 355,177

 307,726

 3 - 5
 years

 Rides
 and entertainment

 152,156

 152,156

 5 - 7
 years

 Furniture
 and fixtures

 27,160

 27,160

 5 - 10
 years

 Construction
 in progress

 87,319

 288,305

 and equipment, cost

 21,624,746

 20,737,220

 Less:
 Accumulated depreciation

 ( 6,601,516
)

 ( 5,907,608
)

 and equipment, net

 $
 15,023,230

 $
 14,829,612

is recorded using the straight-line method over the estimated useful lives of the assets, which range from three to thirty-nine years.
Depreciation expense for the years ended September 28, 2025 and September 29, 2024 totaled $ 875,600 and $ 860,772, respectively.

 Intangible
Assets

 Intangible
assets consist primarily of a site master plan, website domains and tradename registrations, which are record at cost of $ 68,803 and
amortized over their estimated useful lives ranging from three 3 years to ten
years. Amortization expense was $ 10,396 and $ 11,195
for the years ended September 28, 2025 and September 29, 2024, respectively. Accumulated amortization was $ 46,141 and $ 35,745
as of September 28, 2025 and September 29, 2024.

 Scheduled future amortization of intangible assets
is as follows as of September 28, 2025:

OF FUTURE AMORTIZATION OF INTANGIBLE ASSETS

 Fiscal years ending

 2026

 $
 10,396

 2027

 2,405

 2028

 2,405

 2029

 2,405

 2030

 2,405

 Thereafter

 2,646

 Total

 $
 22,662

 Impairment
of Property and Equipment

 P roperty
and equipment are subject to a review for impairment if events or changes in circumstances indicate that the carrying amount
of an asset may not be recoverable. Impairment is assessed at the individual park level which is the lowest
level of identifiable cash flows and the Company considers the estimated undiscounted cash flows over the asset's remaining life.
If estimated undiscounted cash flows are insufficient to recover the investment, an impairment loss is recognized equal to the difference
between the estimated fair value of the asset and its carrying value, net of salvage and any costs of disposition. During Fiscal 2025
and Fiscal 2024, the Company recognized no impairment for property and equipment of the individual park locations.

 Fair Value

 Fair value is the price that would be received to
sell an asset or paid to transfer a liability in an orderly transaction between market participants, or an exit price. Inputs to valuation
techniques used to measure fair value may be observable or unobservable, and valuation techniques used to measure fair value should maximize
the use of relevant observable inputs and minimize the use of unobservable inputs. The fair value hierarchy consists of three broad levels
based on the ranks of the quality and reliability of inputs used to determine the fair values. Level 1 inputs consist of quoted prices
in active markets for identical assets or liabilities. Level 2 inputs consist of quoted prices for similar assets and liabilities in active
markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices
that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. Level
3 inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. A financial
instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair
value measurement.

 Assets and liabilities
recognized or disclosed at fair value on a recurring basis include our term debt. As of September 29, 2024, the fair value of the
Company's short-term investments approximated their carrying values given their remaining duration was 45 days or less. As of
September 28, 2025 and September 29, 2024, the fair value of the Company's long-term debt was $ 3.21
million and $ 3.24
million, respectively. The measurement of the fair value of long-term debt is based upon inquiries of the financial institutions
holding the respective loans and is considered a Level 2 fair value measurement. The respective carrying values of cash and cash
equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value because of the short maturity of
these instruments.

 Other
Current Liabilities

 Other
current liabilities consisted of the following:

 SCHEDULE OF OTHER CURRENT LIABILITIES

 compensation

 $
 178,128

 $
 145,726

 professional fees

 155,800

 75,499

 149,286

 115,950

 property taxes

 106,688

 67,751

 sales taxes

 42,115

 32,866

 interest

 13,360

 2,382

 Other

 21,866

 25,981

 Other
 current liabilities

 $
 667,243

 $
 466,155

 F- 9

 NOTES

 NOTE
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

 Revenue
Recognition

 Revenue
from park admission fees is recognized at the point in time control transfers to the customer, which is generally when the customer accepts
access to the park and the Company is entitled to payment. Park admission revenue for annual season passes is deferred and recognized
as revenue on a pro-rata basis over the term of the season pass. Park admission fee revenue from advance online ticket purchases is deferred
until the customers visit the park. Advance online tickets can generally be used anytime during the one-year period from the date of
purchase. Revenue from retail and concession sales is generally recognized upon the concurrent receipt of payment and delivery of goods
to the customer. The Company excludes taxes assessed by governmental agencies from revenue, including sales-related taxes,
that are imposed on and concurrent with revenue-producing activities.

 Contract Liabilities

 Contract
liabilities consist of payments received in advance of the transfer of control to the customer. Deferred revenue consists of
advance online admission tickets and annual season passes paid by customers prior to performance of these services or transfer
of control of the product. The following table summarizes the deferred revenue associated with payments received in advance of the
transfer of control to the customer reported in Other current liabilities in the Consolidated Balance Sheets and amounts
recognized through Park revenue for each period presented. All deferred revenue as of September 28, 2025 is expected to be
recognized in Park revenue during Fiscal 2026 as customers visit the parks or the one-year period expires from date of purchase.

OF DEFERRED REVENUE

 Fiscal 2025

 Fiscal 2024

 Deferred revenue beginning of period

 $
 115,950

 $
 143,511

 Deferred revenue recognized in period

 ( 115,950
)

 ( 143,511
)

 Revenue deferred in period

 149,286

 115,950

 Deferred revenue end of period

 $
 149,286

 $
 115,950

 Animal sales are reported as a separate revenue line
item. The Company periodically sells surplus animals created from the natural breeding process that occurs within the parks. Animal sales
are recognized at a point in time when control transfers to the customer, which is generally determined when title, ownership and risk
of loss pass to the customer, all of which generally occurs upon delivery of the animal. Based on the Company's assessment of control
indicators, sales are recognized when animals are delivered to the customer.

 The
Company provides disaggregation of revenue based on geography in Note 12, Business Segments as it believes this best depicts how
the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

 Cost of Sales

 Cost of sales are comprised principally of costs of
animal food sold resale to customers to feed the animals in the drive-through safari and cost of non-resale animal food, costs of gift
shop merchandise, food service and concessions, freight and delivery costs and cost of purchased animals sold.

 Selling, General and Administrative Expenses

 Selling, general and administrative
expenses are comprised principally of payroll and benefit costs, advertising and marketing costs, insurance, professional fees, transaction
processing fees, utilities, outside services, vehicle expenses, park maintenance, animal expenses and other administrative expenses.

and Marketing Expenses

 Production
costs for outdoor billboards are expensed in the month they are completed. All other advertising, promotion and marketing programs
are expensed as incurred. Certain prepaid costs incurred through year end for the following fiscal year advertising programs
are included within "Prepaid expenses" in the Consolidated Balance Sheet. Advertising and marketing expenses for the
years ended September 28, 2025 and September 29, 2024 totaled $ 875,320
and $ 875,977,
respectively.

 Stock-Based
Compensation

 The
Company recognizes stock-based compensation costs on a straight-line basis over the requisite service period associated with the
grant. The Company previously awarded shares to its Board of Directors for service on the Board which vested immediately. The shares issued to the Board
were "restricted" and were not to be re-sold unless an exemption is available, such as the exemption afforded by Rule
144 promulgated under the Securities Act of 1933, as amended (the "Securities Act"). The Company recognizes the expense
based on the fair market value at time of the grant. The Company typically awarded its annual Director compensation at the end of
each calendar year. There were no outstanding awards as of September 28, 2025 and September 29, 2024.

 Transactions
with Related Parties

 The
Company's Board of Directors closely monitors and approves transactions with related parties.

 A portion of the Company's
long-term debt is secured by a cash collateral reserve of $ 2.5 million established by Focused Compounding. See Note 5, Long-term Debt. 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.

 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.

 F- 10

 NOTES

 NOTE
2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Taxes

 The
Company utilizes the asset and liability method of accounting for income taxes, which requires the recognition of deferred tax assets
and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method,
deferred tax assets and liabilities are determined based on the differences between the financial reporting basis and the tax basis of
the assets and liabilities and are measured using the enacted tax rates and laws. Management periodically reviews the Company's
deferred tax assets to determine whether their value can be realized based on available evidence. A valuation allowance is established
when management believes it is more likely than not that such tax benefits will not be realized. Changes in valuation allowances from
period to period are included in the Company's income tax provision in the period of change.

 The Company follows the guidance in FASB ASC 740 with
respect to accounting for uncertainty in income taxes. A tax position is recognized as a benefit only if it is "more-likely-than-not"
that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is
the largest amount of tax benefit that is greater than fifty percent likely of being realized on examination. For tax positions not meeting
the "more-likely-than-not" test, no tax benefit is recorded. The Company has no unrecognized tax benefits under guidance related
to tax uncertainties. Any tax penalties or interest expense will be recognized in income tax expense. No interest and penalties related
to unrecognized tax benefits were accrued as of September 28, 2025 or September 29, 2024.

 Earnings (Loss) per share

 The numerator for both basic and diluted EPS is
net income (loss) attributable to the Company. The denominator for basic EPS is based upon the number of weighted average
shares of the Company's stock outstanding during the reporting periods. The denominator for diluted EPS is based upon the
number of weighted average shares of the Company's common stock and common shares equivalent outstanding during the reporting
periods using the treasury stock method in accordance with ASC 260, Earnings per Share.

 The following table summarizes the components of basic
and diluted EPS:

 SCHEDULE OF EARNING
PER SHARE BASIC AND DILUTED

 Fiscal 2025

 Fiscal 2024

 Net income (loss)

 $

 $
)

 Basic weighted average shares outstanding

 755,740

 756,770

 Diluted weighted average shares outstanding

 755,740

 756,770

 Earnings (loss) per share

 Basic

 $
 1.93

 $
 ( 1.45
)

 Diluted

 $
 1.93

 $
 ( 1.45
)

 Dividend
Policy

 The
Company has not yet adopted a policy regarding payment of dividends.

 Recently
Adopted Accounting Pronouncements

 In
November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
("ASU 2023-07"). ASU 2023-07 requires enhanced disclosures about significant segment expenses regularly provided to
the chief operating decision maker that are included within each reported measure of segment profit or loss, and requires all annual
disclosures currently required by Topic 280 to be included in interim periods. ASU No. 2023-07 is to be applied retrospectively for
all periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023, and interim
periods within fiscal years beginning after December 15, 2024. The Company adopted ASU 2023-07 for the fiscal year ended September
28, 2025. See Note 12, Segment Reporting.

 Recently
Issued Accounting Pronouncements Not Yet Adopted

 In
December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures ("ASU 2023-09"), which includes
requirements that an entity disclose specific categories in the rate reconciliation and provide additional information for reconciling
items that are greater than five percent of the amount computed by multiplying pretax income (or loss) by the applicable statutory income
rate. The standard also requires that entities disclose income (or loss) from continuing operations before income tax expense (or benefit)
and income tax expense (or benefit) each disaggregated between domestic and foreign. ASU 2023-09 is effective for the annual periods
beginning after December 15, 2024. The Company is currently assessing the impact of ASU 2023-09 on the Company's consolidated financial
statement disclosures.

 In
March 2024, FASB issued ASU 2024-02, Codification Improvements—Amendments to Remove References to the Concepts Statements ("ASU
2024-02"), which is intended to simplify the Codification and draw a distinction between authoritative and non-authoritative literature.
ASU 2024-02 is effective for annual reporting periods beginning after December 15, 2024, with early adoption permitted and can be applied
on either a prospective or retroactive basis. The Company is currently assessing the impact of ASU 2024-02 on the Company's consolidated
financial statements.

 In
November 2024, FASB issued ASU 2024-03 Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures
(Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"). Under ASU 2024-03, a public entity would
be required to disclose information about purchases of inventory, employee compensation, depreciation, intangible asset amortization,
and depletion for each income statement line item that contains those expenses. ASU 2024-03 is effective for annual reporting periods
beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. ASU 2024-03 allows for early adoption
and requires either prospective adoption to financial statements issued for reporting periods after the effective date of ASU 2024-03
or retrospectively to any or all prior periods presented in the financial statements. The Company is currently assessing the impact of
ASU 2024-03 on the Company's consolidated financial statement disclosures.

 Except
as noted, the Company does not expect recently issued accounting standards or interpretations to have a material impact on the Company's
financial position, results of operations, cash flows or financial statement disclosures.

 F- 11

 NOTES

 NOTE
3. CONTESTED PROXY AND RELATED MATTERS

 On
December 22, 2023, Focused Compounding Fund, LP (together with the participants in its solicitation, "Focused Compounding")
submitted documents to the Company providing notice as to a demand that the Company hold a special meeting of stockholders (the "Special
Meeting"). The Special Meeting was held for the purpose of asking stockholders to consider and vote upon five proposals, including
a proposal for the removal of all directors currently serving on the Board of Directors and a proposal for the election of a new Board
of Directors comprised entirely of Focused Compounding's slate of three candidates. The Special Meeting was held on February 26,
2024 and Focused Compounding's proposal to reconstitute the Board of Directors received the votes of a majority of shareholders
who voted, but not a sufficient majority for approval under Nevada law, so it did not pass.

 On
January 19, 2024 following Focused Compounding's submission to the Company, the Company adopted a rights plan (the "Rights
Plan"), which provided, among other things, that if specified events occurred, the Company's stockholders would be entitled
to purchase additional shares of the Company's common stock. On January 18, 2025, the Rights Plan expired pursuant to its terms.

 On
March 1, 2024, Focused Compounding filed a Complaint in the Eighth Judicial District Court of Clark County against the Company and each
of the members of its Board of Directors, alleging that the defendants were contemplating efforts to entrench themselves as members of
the Board.

 On
June 6, 2024 the Company held its annual meeting of stockholders (the "2024 Annual Meeting"). The purpose of the 2024 Annual
Meeting was for the Company's stockholders to elect seven nominees to serve on the Company's Board of Directors (the "Board"),
as well as consider additional proposals. The Company and Focused Compounding each submitted proxies soliciting the Company's stockholders
to vote for their respective proposed director nominees. The nominees for director included six nominees proposed by the Company and
four nominees proposed by Focused Compounding. At the 2024 Annual Meeting, the Company's stockholders elected four nominees proposed
by Focused Compounding and three nominees proposed by the Company.

 On
June 14, 2024, the Company announced that Lisa Brady stepped down as its President and Chief Executive Officer, and the Company's
Board had appointed Geoffrey Gannon as the Company's President. Mr. Gannon is also the Portfolio Manager at Focused Compounding.

 The Company engaged legal counsel specializing in activist stockholder matters, as well as
several other consultants, during this proxy contest. Contested proxy and related matters, net was a credit of $ 670,814
for the year ended September 28, 2025 compared to contested proxy and related matters expense, net of $ 2.04
million for the year ended September 29, 2024. The $ 670,814
credit for the year ended September 28, 2025 included $ 567,157
of insurance proceeds received under the Company's directors and officers insurance related to this matter. These proceeds were used to pay
certain legal bills associated with the contested proxy and related matters. In addition, a credit of $ 103,657
was recognized from the reversal of previously accrued contested proxy legal fees that were waived as part of the full settlement of
outstanding invoices.

 NOTE
4. TORNADO EXPENSES AND ASSET WRITE-OFFS

 In
March 2023, the Company's Georgia Park experienced extensive damage, caused by an EF-3 tornado and over nine inches of rain,
resulting in more than 4,500 fallen trees and damage to many of the animal enclosures, fencing and other park infrastructure. The
walkabout adventure zoo portion of the property was particularly hard hit. The Georgia Park was closed for
20 days, including for most of its traditionally busy Spring Break period, which has historically accounted for approximately 10 %- 15 %
of the Georgia Park's annual revenue. The drive-through safari section of the Georgia Park reopened on April 15, 2023. The
walkabout adventure zoo portion of the park reopened in phases, starting with the first phase on May 2, 2023.

 As
part of the severe weather and tornado damage rebuilding projects, the Company completed capital expenditures of approximately
$ 60,000
and incurred approximately $ 197,000
for construction in progress of the restroom facility replacement during the year ended September 29, 2024. The Company incurred
approximately $ 594,000 of additional capital expenditures to complete the restroom facility replacement during the year ended
September 28, 2025. The restroom facility was placed in service in February 2025 right before the start of the busy Spring Break
period.

 While
no severe weather and tornado related expenses or asset write-offs were recorded during the year ended September 29, 2024, the Company
received the final insurance proceeds of $ 53,755.

 F- 12

 NOTES

 NOTE
5. LONG-TERM DEBT

 On June
18, 2021, through our wholly owned
subsidiary Wild Animal – Georgia, we completed a refinancing transaction with Synovus Bank. The 2021 Term Loan included an
original principal amount of $ 1.95 million.
The 2021 Term Loan bears interest at a rate of 3.75 %
per annum and is payable
in monthly installments of approximately
$ 26,480,
based on a seven-year amortization period. The 2021 Term Loan has a maturity date of June
18, 2028. The 2021 Term Loan is secured by a
security deed on the assets of Wild Animal – Georgia. We paid a total of approximately $ 1,514 in
fees and expenses in connection with the 2021 Refinancing. The outstanding balance of the 2021 Term Loan was $ 0.83
million and $ 1.11 million as of September
28, 2025 and September 29, 2024, respectively.

 On April
27, 2020, through our wholly owned
subsidiary Aggieland-Parks Inc., we acquired Aggieland Wild Animal – Texas. In part, this acquisition was financed with the 2020
Term Loan from First Financial Bank
("First Financial"). The 2020 Term Loan in the original principal amount of $ 5.0 million from First Financial is secured
by substantially all the Aggieland Wild Animal – Texas assets, as well as guarantees from the Company and its subsidiaries.
The 2020 Term Loan had an interest rate of 5.0 %
per annum, had a maturity date of April
27, 2031, and required interest only monthly
payments through April 2021. The 2020 Term Loan required monthly payments of approximately $ 53,213 beginning
in May 2021. We paid a total of approximately $ 62,375 in
fees and expenses in connection with the 2020 Term Loan. On June 30, 2021, the Company used the incremental proceeds of the 2021
Term Loan, combined with additional funds, to pay down $ 1.0 million
against the 2020 Term Loan, which had an outstanding balance of $ 2.39
million as of September 29, 2024. On
September 30, 2024, the 2020 Term Loan with First Financial was fully paid off with the proceeds of the 2025 Term Loan.

 On September
30, 2024, Aggieland-Parks, Inc. completed a
refinancing transaction for the 2025 Term Loan with Cendera Bank N.A. The 2025 Term Loan provided an original principal amount of
$ 2.5 million,
the proceeds of which were used to repay all the indebtedness under the 2020 Term Loan and bears interest at a daily adjusted rate
equal to the Prime Rate minus 0.5 %.
The initial interest rate was 7.25 %. As of September 28, 2025 the effective interest rate was at 6.75 %. The
2025 Term Loan has a term of 10 years, with a 15-year amortization, and a balloon payment of the outstanding principal balance due
September 30, 2034. The initial monthly loan
payment was $ 23,200
and has been reduced with the decrease in the effective interest rate to $ 22,277 as of September 28, 2025. Aggieland-Parks,
Inc., paid approximately $ 60,716 of
fees and expenses in connection with the 2025 Term Loan. The outstanding balance of the 2025 Term Loan was $ 2.41 million as of September 28, 2025.

 The 2025 Term Loan 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 Fund, LP, with Cendera Bank N.A. Geoffrey Gannon and Andrew Kuhn control Focused Compounding Fund, LP,
and each serves on the Board of the Company, and Mr. Gannon serves as the Company's President. Focused Compounding did not receive a
fee or any other benefit in connection with establishing the above-described cash collateral reserve. See Note 5, Long-term Debt to the Consolidated Financial Statements.

expense of $ 219,341
and $ 229,244 for the
years ended September 28, 2025 and September 29, 2024, respectively, includes amortization of debt issuance costs of $6,072 and
$48,219, respectively. Amortization of debt issuance costs for the year ended September 29, 2024
includes $ 37,331
attributed to the write off of the unamortized balance of the 2020 Term Loan debt issuance costs and $ 5,000
of line-of-credit fee amortization.

 The
following table represents the aggregate of the Company's outstanding long-term debt:

 SCHEDULE OF OUTSTANDING LONG TERM DEBT

 Loan
 principal outstanding

 $
 3,240,788

 $
 3,498,535

 Less:
 unamortized debt issuance costs

 ( 55,240
)

 ( 812
)

 Gross
 long-term debt

 3,185,548

 3,497,723

 Less
 current portion of long-term debt

 ( 397,830
)

 ( 809,892
)

 Long-term
 debt, net

 $
 2,787,718

 $
 2,687,831

 As
of September 28, 2025, the scheduled future principal maturities, by fiscal year, are as follows:

 SCHEDULE OF MATURITIES OF LONG-TERM DEBT

 Fiscal years ending

 2026

 $
 397,830

 2027

 415,605

 2028

 355,250

 2029

 129,526

 2030

 138,674

 Thereafter

 1,803,903

 Total

 $
 3,240,788

 F- 13

 NOTES

 NOTE
6. LINES OF CREDIT

 On
October 19, 2023, the Company, through its wholly owned subsidiary Aggieland Wild Animal – Texas, entered a line of credit of up
to $ 350,000 with First Financial (the "2023 First Financial LOC"). The 2023 First Financial LOC matured on October 11, 2024
and carried an interest rate of 5.6 % on any utilized portion. The 2023 First Financial LOC was secured by a $ 350,000 certificate of deposit
issued by First Financial, which also matured on October 11, 2024 and paid an effective interest rate of 3.6 %. The Company paid a $ 500
origination fee for the 2023 First Financial LOC. The Company did not renew with 2023 First Financial LOC when the underlying certificate
of deposit matured and the proceeds from the certificate of deposit were transferred to the Aggieland Wild Animal – Texas operating
account.

 On
October 24, 2023, the Company, through its wholly owned subsidiary Wild Animal – Georgia, entered a line of credit of up to $ 450,000
with Synovus (the "2023 Synovus LOC"). The 2023 Synovus LOC matured on October 24, 2024 and carried an interest rate of 7.75 %
on any utilized portion. The 2023 Synovus LOC was secured by a $ 450,000 certificate of deposit issued by Synovus, which matured on November
13, 2024 and paid an effective interest rate of 5.25 %. The Company paid a $ 4,500 origination fee for the 2023 Synovus LOC. The Company
did not renew with 2023 Synovus LOC when the underlying certificate of deposit matured and the proceeds from the certificate of deposit
transferred to in the Wild Animal – Georgia operating account.

 As
of September 29, 2024 and through their respective maturities, the Company had not made any borrowings against either of these lines
of credit. Interest expense for the years ended September 28, 2025 and September 29, 2024, includes none and $ 5,000 of line of credit
fee amortization, respectively.

 NOTE
7. STOCKHOLDERS' EQUITY

Stock

 At
the annual shareholder meeting held on March 7, 2025, the stockholders voted to approve the amendments to the Company's Articles
of Incorporation to effect a 1 for 500 reverse stock split of the Company's common stock followed immediately by an amendment to
the Company's Restated Articles of Incorporation to effect a 5 for 1 forward stock split of the Company's Common Stock, herein
referred to as the Reverse/Forward Stock Split.

 On
April 1, 2025, the Board of Directors authorized the implementation of the Reverse/Forward Stock Split.

 On
April 10, 2025, the Company filed a certificate of amendment to the Company's Articles of Incorporation ("Charter")
with the Secretary of State of the State of Nevada to effect a 1-for-500 reverse stock split of the shares of the Company's common
stock, par value $ 0.001 per share followed immediately by the filing of a certificate of amendment to the Charter with the Secretary
of State of the State of Nevada to effect a 5-for-1 forward stock split of the Company Common Stock.

 The
immediate goal of the Reverse/Forward Stock Split was to reduce excessive administrative costs associated with having a disproportionately
large number of stockholders who owned relatively few shares.

 No fractional shares were issued in connection with the Reverse/Forward Stock Split. Instead, the Company paid cash (without interest)
to any stockholder who would be entitled to receive a fractional share as a result of the Reverse/Forward Stock Split as follows:

 (i)

 Stockholders
 who held fewer than 500 shares immediately prior to the Reverse Stock Split were paid in cash (without interest) an amount equal
 to such number of shares of Company Common Stock held multiplied by the average of the closing sales prices of the Company Common
 Stock quoted on the National Quotation Bureau pink sheets for the five consecutive trading days immediately preceding the Effective
 Date of the Reverse Stock Split; and

 (ii)

 Any
 remaining stockholders who would have been entitled to receive fractions of a share as a result of the Reverse/Forward Stock Split
 were paid in cash (without interest) an amount equal to such fractions multiplied by the average of the closing sales prices of the
 Company Common Stock quoted on the National Quotation Bureau pink sheets for the five consecutive trading days immediately preceding
 the effective date of the Reverse/Forward Stock Split (with such average closing sales prices being adjusted to give effect to the
 Reverse/Forward Stock Split).

 All
prior period outstanding share amounts and per share amounts have been adjusted to reflect the Reverse/Forward Stock Split that became
effective on April 30, 2025.

 Stock-based
compensation

 Shares
of common stock issued for service to the Company are valued based on market price on the date of the award and vest immediately.

 On
December 4, 2023, the Company declared its annual compensation award to seven directors for their service on the Board of Directors.
Seven directors were awarded $ 10,000
each and three directors received a total of $ 10,000
for serving as committee chairpersons and as a non-employee officer, with such compensation to be paid all in shares of the
Company's common stock, all in cash or a combination thereof, at each director's election. Five directors elected to
receive compensation in all shares and two directors elected to receive compensation in all cash. Based on the closing stock price
on December 4, 2023, a total of 2,091
shares were issued and immediately vested on February 2, 2024. The total compensation award cost of $ 80,000,
comprised of $ 57,500
in stock-based compensation and $ 22,500
of cash payments, was recorded for the year ended September 29, 2024. These costs are included within Selling, general and
administrative expenses in the Consolidated Statements of Operations.

 Officers,
directors and their controlled entities own approximately 42.36 % of the outstanding common stock of the Company as of September 28,
2025.

 F- 14

 NOTES

 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.

 F- 15

 NOTES

 NOTE
9. INCOME TAXES

 The Company reported income
(loss) before income taxes in the amount of $ 1,920,309
and $( 1,479,797)
for the year ended September 28, 2025 and September 29, 2024, respectively.

 The components of the provision
for (benefit from) income taxes consisted of the following:

 SCHEDULE OF PROVISION FOR INCOME TAX

 For
 the year ended

 Current:

 Federal

 $
 5,658

 $
 ( 1,610
)

 State

 11,655

 4,635

 Total
 current

 17,313

 3,025

 Deferred:

 Federal

 370,402

 ( 290,287
)

 State

 74,511

 ( 98,054
)

 Total
 deferred

 444,913

 ( 388,341
)

 Total provision (benefit)

 $
 462,226

 $
 ( 385,316
)

 A reconciliation of the federal corporate income tax rate and the effective tax rate on income (loss) before income taxes consists of the following:

OF FEDERAL CORPORATE STATUTORY INCOME TAX RATE AND THE EFFECTIVE RATE

 For
 the year ended

 Federal
 statutory rate

 21.0
 %

 21.0
 %

 State
 taxes, net of federal benefit

 4.3

 4.3

 Non-deductible
 expenses

 0.1

 ( 0.1
)

 Permanent differences

 ( 0.5
)

 —

 Change
 in valuation allowance

 ( 0.8

)

 0.7

 Other

 —

 0.1

 Effective
 income tax rate

 24.1
 %

 26.0
 %

 Deferred tax assets and
liabilities arise from temporary differences between financial reporting and tax reporting bases of assets and liabilities, and
operating loss carryforwards for tax purposes. The components of deferred income tax assets and liabilities are as follows:

OF DEFERRED INCOME TAX ASSETS AND LIABILITIES

 tax assets (liabilities)

 Net
 operating loss carryforwards

 $
 1,314,603

 $
 1,388,557

 liabilities

 40,809

 266,269

 Inventory

 11,711

 —

 and equipment

 ( 1,571,584
)

 ( 1,397,861
)

 Intangibles
 assets

 ( 267
)

 ( 2,434
)

 Valuation
 allowance

 ( 84,173
)

 ( 98,519
)

 Net deferred tax (liability) asset

 $
 ( 288,901
)

 $
 156,012

 GAAP
requires a valuation allowance be recorded against a deferred tax asset (liability) if it is more likely than not that the tax
benefit associated with the asset will not be realized in the future. As shown in the table above, the Company had a valuation
allowance of $ 84,173
and $ 98,519
as of September 28, 2025 and September 29, 2024, respectively. This valuation allowance is based on the Company's State of
Missouri net operating loss carryforwards totaling $ 2.66
million as of September 28, 2025, which expire in varying amounts from 2030 through 2045. While significantly improved during the
year ended September 28, 2025, due to the Company's history of losses in the State of Missouri, the Company has established a
full valuation allowance against the related net operating loss carryforward asset as of September 28, 2025 and September 29, 2024, respectively.

 F- 16

 NOTES

 NOTE
9. INCOME TAXES (CONTINUED)

 The
Company had net operating loss carryforwards available for federal and State of Georgia tax purposes of $ 5.64
million and $ 1.10 million,
respectively, as of September 28, 2025. Each of these has an indefinite carryforward period; however, each is limited to offset 80 %
of taxable income any period applied.

 The
Company follows guidance issued by the FASB ASC 740 with respect to accounting for uncertainty in income taxes. A tax position is recognized
as a benefit only if it is "more-likely-than-not" that the tax position would be sustained in a tax examination, with a tax
examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than fifty percent likely
of being realized on examination. For tax positions not meeting the "more-likely-than-not" test, no tax benefit is recorded.
The Company has no unrecognized tax benefits under guidance related to tax uncertainties. The Company does not anticipate its unrecognized
tax benefits will significantly change in the next twelve months. Any tax penalties or interest expense will be recognized in income
tax expense. No interest and penalties related to unrecognized tax benefits were accrued as of September 28, 2025 and September 29, 2024.

 The
Company and one of its subsidiaries files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The Company
is open to federal and state tax audits until the applicable statute of limitations expire; however, the Company currently has no federal
or state income tax examinations underway. The tax years 2021 through 2024 remain open to examination by the major taxing jurisdictions
in which the Company and its subsidiaries operate.

 NOTE
10. COMMITMENTS AND CONTINGENCIES

 On
December 16, 2022, the Company received notice that on August 10, 2022 a former employee of Aggieland Wild Animal – Texas, filed
a Complaint in the 361st District Court of Brazos County, Texas (case no. 22-001839-CV-361), alleging the Company and Aggieland-Parks,
Inc. committed several instances of employment discrimination. The Complaint sought unspecified economic, compensatory and punitive damages,
as well as attorney's fees and costs. On June 3, 2024, the Company and the former employee entered into a settlement agreement
and mutual release of claims related to this matter and the Company paid the former employee $ 75,000.

 On
March 1, 2024, Focused Compounding Fund, LP ("Focused Compounding") filed a Complaint in the Eighth Judicial District Court
of Clark County, Nevada (case no. A-24-888295-B) against the Company and each of the members of its Board of Directors, alleging that
the defendants were contemplating efforts to entrench themselves as members of the Board of Directors. Simultaneously with filing its
Complaint, Focused Compounding sought a Preliminary Injunction that would require the Company and its Directors to take various actions.
On June 20, 2024, Focused Compounding, the Company and the named defendants agreed to a stipulation dismissing with prejudice any and
all claims by and between the parties outlined in the initial Complaint in light of the results of the Company's annual meeting
of stockholders held on June 6, 2024. See Note 3, Contested Proxy and Related Matters for additional information.

 Except
as noted above, the Company is not a party to any pending legal proceedings, nor is its property the subject of a pending legal proceeding,
that is not in the ordinary course of business or otherwise material to the financial condition of its business. None of the Company's
directors, officers or affiliates is involved in a proceeding adverse to its business or has a material interest adverse to its business.

 F- 17

 NOTES

 NOTE 11. MAJOR VENDORS

 The Company has two major vendors, exclusive to the
Georgia Park, that accounted for approximately 24.8 % of cost of sales for the year end September 28, 2025. The Company had one major vendor, exclusive to the Georgia Park, that accounted for approximately 10.2 % of cost
of sales for the year ended September 29, 2024. The Company expects to maintain
relationship with these vendors but would have replacements available if ties to these two suppliers were discontinued.

 NOTE
12. BUSINESS SEGMENTS

 The
Company identifies our operating segments to be the individual parks: Georgia Park, Missouri Park and Texas Park and operates in three
reportable segments.

 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 Chief Executive
Officer, who is the Chief Operating Decision Maker ("CODM") of the Company. The CODM uses segment operating income/(loss),
defined as park earnings before interest, taxes, depreciation and amortization, and free cash flow as the reportable segment profitability
measure to assess performance and allocate resources.

 Significant
segment expenses are expenses which are regularly provided to the CODM and are included in segment operating income/(loss). These consist
of segment cost of animal food, merchandise and food, other revenue driven costs, personnel costs, advertising and marketing and all other segment expenses. Segment
cost of sales includes cost of animal feed and cost of gift shop merchandise, food and concessions. Other revenue driven costs include
credit card fees and other revenue processing fees. Personnel costs include fixed and variable wages, benefits costs and employer payroll
taxes. Other segment expenses include animal expenses, park and vehicle maintenance, insurance, utilities, outside services, operating
supplies and other miscellaneous expenses. The Company does not allocate corporate expenses to our segments.

 The
following tables set forth, for the periods indicated, certain segment information the Company's reportable segments:

 SCHEDULE OF REVENUE BY REPORTING SEGMENTS

 Park

 Park

 Texas
 Park

 Total

 Year Ended September 28, 2025

 Park

 Park

 Texas
 Park

 Total

 $
 5,917,423

 $
 2,189,656

 $
 2,364,496

 $
 10,471,575

 Less
 significant expense categories (1):

 Cost
 of animal food, merchandise and food (1)

 789,293

 232,363

 304,204

 1,325,860

 Other
 revenue driven costs (1) (2)

 115,195

 43,081

 47,492

 205,768

 Personnel
 costs (1) (3)

 1,377,831

 726,050

 688,096

 2,791,977

 and marketing(1)

 301,687

 240,204

 333,429

 875,320

 Other
 segment expenses (1) (4)

 1,077,753

 372,367

 453,578

 1,903,698

 income

 $
 2,255,664

 $
 575,591

 $
 537,697

 $
 3,368,952

 operating income as percentage of total revenue

 38.1
 %

 26.3
 %

 22.7
 %

 32.2
 %

 Park

 Park

 Texas
 Park

 Total

 Year Ended September 29, 2024

 Park

 Park

 Texas
 Park

 Total

 $
 5,960,259

 $
 2,036,280

 $
 1,915,721

 $
 9,912,260

 Less
 significant expense categories (1):

 Cost
 of animal food, merchandise and food (1)

 747,473

 276,729

 388,476

 1,412,678

 Other
 revenue driven costs (1) (2)

 158,815

 46,632

 46,729

 252,176

 Personnel
 costs (1) (3)

 1,328,979

 659,088

 653,428

 2,641,495

 and marketing (1)

 340,586

 225,087

 310,304

 875,977

 Other
 segment expenses (1) (4)

 1,089,527

 371,525

 443,863

 1,904,915

 income

 $
 2,294,879

 $
 457,219

 $
 72,921

 $
 2,825,019

 operating income as percentage of total revenue

 38.5
 %

 22.5
 %

 3.8
 %

 28.5
 %

 (1)
 The significant
expense categories and amounts align with the segment-level information that is regularly provided to the CODM.

 (2)
 Other revenue driven costs include credit
card fees and other revenue processing costs driven by sales volume.

 (3)
 Personnel costs include fixed
and variable wages, benefits and employer taxes.

 (4)
 Other segment expenses include all
other operating expenses, including animal expenses, park and vehicle maintenance, insurance, utilities, outside services, operating
supplies and other miscellaneous expenses.

 F- 18

 NOTES

 NOTE
12. BUSINESS SEGMENTS (CONTINUED)

 The
table below sets forth, for the periods indicated, a reconciliation of reporting consolidated segment income to Income before income
taxes:

OF RECONCILIATION OF REPORTING SEGMENT INCOME TO INCOME BEFORE INCOME TAXES

 Years Ended

 segment income

 $
 3,368,952

 $
 2,825,019

 Less:

 corporate expenses (1)

 1,063,397

 1,211,764

 ( 670,814
)

 —

 ( 53,755
)

 Legal

 —

 Other
 operating expenses, net

 Other
 (income), net

 ( 78,573
)

 ( 132,948
)

 (loss) before income taxes

 $
 1,920,309

 $
 ( 1,479,797
)

 (1)

 corporate expenses include corporate personnel costs, director fees and compensation, directors and officers insurance, computer
 software and services, professional fees and public company related expenses.

 Additional
Segment Data

 SCHEDULE OF ADDITIONAL SEGMENT DATA

 Years Ended

 and amortization:

 Park

 $
 396,987

 $
 357,522

 Park

 218,429

 231,734

 Texas
 Park

 268,923

 281,055

 Corporate

 1,657

 1,656

 Total
 depreciation and amortization

 $

 $

 Years Ended

 Capital
 expenditures:

 Park

 $
 1,038,800

 $
 593,515

 Park

 116,538

 100,428

 Texas
 Park

 121,484

 213,012

 Total
 capital expenditures

 $
 1,276,822

 $
 906,955

 As
 of

 Total
 assets:

 Park

 $
 8,043,972

 $
 7,520,918

 Park

 3,299,882

 3,399,324

 Texas
 Park

 8,135,982

 7,812,661

 Corporate

 19,606

 461,168

 Total assets

 $
 19,499,442

 $
 19,194,071

 Total assets

 $
 19,499,442

 $
 19,194,071

 F- 19