Parks America, Inc Liquidation Value
Cash & Equivalents
Key Metrics
Cash Liquidation Value
- Finance Lease Liability: not reported in this period (annual-only)
- Operating Lease Liability: not reported
Liquid Liquidation Value
- Finance Lease Liability: not reported in this period (annual-only)
- Operating Lease Liability: not reported
Operating Liquidation Value
- Finance Lease Liability: not reported in this period (annual-only)
- Operating Lease Liability: not reported
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Liquidation Ladder
| Metric | Total | Per Share |
|---|---|---|
| Cash Liquidation Value | $-229,975 | $-0.31 |
| Liquid Liquidation Value | $-227,955 | $-0.30 |
| Operating Liquidation Value | $173,041 | $0.23 |
Key Components (as of 2026-03-29)
| Cash & Equivalents | $3.48M |
| Accounts Receivable | $2,020 |
| Inventory | $400,996 |
| Current Liabilities | $1.13M |
| Long-term Debt (?) | $2.58M |
| Op. Lease Liability (?) | N/A |
| Finance Lease (?) | N/A |
| Shares Outstanding | 752,577 |
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Historical
| Period | Cash | AR | Inventory | AP | Curr Liab | LT Debt | Op Lease | Fin Lease |
|---|---|---|---|---|---|---|---|---|
| 2026-03-29 | $3.48M | $2,020 | $400,996 | $172,135 | $1.13M | $2.58M | N/A | N/A |
| 2025-12-28 | $3.42M | $10,569 | $312,763 | $101,784 | $1.01M | $2.68M | N/A | N/A |
| 2025-09-28 | $3.88M | $18,293 | $313,556 | $92,608 | $1.16M | $2.79M | N/A | N/A |
| 2025-06-29 | $2.69M | $29,214 | $338,408 | $128,911 | $1.02M | $2.89M | N/A | N/A |
| 2025-03-30 | $1.97M | $33,311 | $404,337 | $500,402 | $1.39M | $2.98M | N/A | N/A |
| 2024-12-29 | $2.66M | $63,784 | $342,916 | $664,926 | $1.47M | $3.09M | N/A | N/A |
| 2024-09-30 | N/A | N/A | N/A | N/A | N/A | $3.61M | N/A | N/A |
| 2024-09-29 | $2.49M | $63,784 | $372,401 | $1.28M | $2.56M | $2.69M | N/A | N/A |
SEC Filings
| Period | Form | Filed | Link |
|---|---|---|---|
| 2026-03-29 | 10-Q | 2026-05-11 | View |
| 2025-12-28 | 10-Q | 2026-02-06 | View |
| 2025-09-28 | 10-K | 2025-12-12 | View |
| 2025-06-29 | 10-Q | 2025-08-08 | View |
| 2025-03-30 | 10-Q | 2025-05-09 | View |
| 2024-12-29 | 10-Q | 2025-02-07 | View |
| 2024-09-29 | 10-K | 2024-12-13 | View |
| 2024-06-30 | 10-Q | 2024-08-13 | View |
AI Insights
Parks America, Inc. (PRKA) operates three regional safari parks (Georgia, Missouri, Texas) as of the 26-week period ended March 29, 2026. The TAG_CONTEXT list is empty, meaning the filer emitted no XBRL tags that are separately available for tag-level analysis. All balance-sheet data referenced below derives from filing narrative and financial statement prose only.
Under the liquidation lens, the recovery posture is marginally positive at the operating asset level but structurally thin. MFFAIS reports an Operating Liquidation Value of approximately $55K, a Cash Liquidation Value of approximately -$269K, and a Liquid Liquidation Value of approximately -$258K as of the period end. These figures confirm that after applying standard liquidation haircuts to assets and holding liabilities at face value, equity recovery is negligible to negative on a strict wind-down basis.
Key balance-sheet data from filing narrative: Total assets were $19.22 million as of March 29, 2026, down slightly from $19.50 million as of September 28, 2025. Asset composition is dominated by illiquid park PP&E spread across Georgia ($7.5M segment assets), Texas ($8.3M), and Missouri ($3.3M). Under a 50-70% PP&E haircut, these three segments collectively represent the vast majority of total assets, and the liquidation recovery on them would range from roughly $9.5M to $13.3M before accounting for liabilities.
On the liability side, total long-term debt (including current maturities) was $2.99 million as of March 29, 2026, down from $3.19 million at September 28, 2025, driven by scheduled amortization on the 2021 Term Loan (Synovus Bank) and the 2025 Term Loan (Cendera Bank, original principal $2.5M, balance $2.36M). The 2025 Term Loan carries a balloon due September 30, 2034 and is secured by substantially all assets of the Texas subsidiary (Aggieland-Parks, Inc.), plus a $2.5M cash collateral reserve provided by Focused Compounding Fund, L.P. — a related party controlled by the CEO and a Board member. The collateral arrangement is not an asset of the Company and does not benefit equity holders in liquidation; it benefits Cendera Bank.
Working capital was $3.01 million at period end versus $3.28 million at fiscal year-end September 28, 2025. The Company reports stockholders' equity of $15.22 million, yielding a book debt-to-equity ratio of 0.20x — light leverage on a going-concern basis, but the book equity figure is heavily dependent on the carrying value of park land and PP&E that would be significantly discounted in forced sale. Filing does not separately disclose fair market value or appraised values for park real estate.
Operationally, the business generated $263K of operating cash flow in the first half of fiscal 2026 (versus negative $163K in the prior-year comparable), with net loss of $6,516 on a YTD basis. Adjusted EBITDA for the 26-week period was $506K. Operating improvement is meaningful for going-concern purposes but does not substantially alter the liquidation recovery posture, which is dominated by the forced-sale discount on park-specific PP&E and real property. No impairments, goodwill, or intangibles are disclosed. No pension obligations. No operating lease ROU asset/liability separately tagged. The filing states no off-balance sheet arrangements.
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