Form 8-K - Current report
22 Juli 2024 - 10:47PM
Edgar (US Regulatory)
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2024-07-18
2024-07-18
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
July
18, 2024 |
|
000-51254 |
Date
of Report (Date of earliest event reported) |
|
Commission
File Number |
PARKS!
AMERICA, INC.
(Exact
name of registrant as specified in 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
of Principal Executive Offices) (Zip Code)
(706)
663-8744
(Registrant’s
telephone number, including area code)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(g) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock |
|
PRKA |
|
OTCPink |
Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
Resignation
of Director
On
July 18, 2024, Lisa Brady, a member of the Board of Directors (the “Board”), notified Parks! America, Inc. (the “Company”)
of her resignation from the Board effective immediately. In her resignation letter to the Board, Ms. Brady cited significant concerns
about strategic decisions made by the Board, including certain hirings made by the Board, and the potential long-term impact of those
decisions on the Company, as well as concerns regarding the risk of breach of fiduciary duties by the Board, as described in greater
detail in Exhibit 17.1.
Ms.
Brady has served on the Company’s Board since November 2021 and was its President and CEO from November 14, 2022 until June 14,
2024. The Board thanks Ms. Brady for her service to the Company and wishes her the best in her future endeavors.
A
copy of Ms. Brady’s resignation letter to the Board is included as Exhibit 17.1 to this Form 8-K. and the description of the resignation
letter contained herein is qualified in its entirety by reference to the full text of the resignation letter which is incorporated by
reference into this Item 5.02.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Date:
July 22, 2024
|
PARKS!
AMERICA, INC. |
|
|
|
|
By: |
/s/
Todd R. White |
|
Name: |
Todd
R. White |
|
Title: |
Chief
Financial Officer |
Exhibit
17.1
Lisa
Brady
1007
Dockway Drive
Huron,
OH 44839
lisa@lakeerieadventure.com
216.402.3685
July
18, 2024
Board
of Directors
Parks
America
1300
Oak Grove Road
Pine
Mountain, GA 31822
Dear
Members of the Board,
I
am writing to formally resign from my position on the Parks! America Board of Directors, effective immediately.
This
decision has not been made lightly, as it has been a privilege to serve on this board and to contribute to our shared mission. However,
I find myself extremely at odds with the current direction in which the recently appointed board is headed. Specifically, I have significant
concerns about the strategic decisions being made and their potential long-term impact on the organization. The first two decisions made
by this board resulted in the placement of two highly unqualified individuals stepping into key positions within the organization without
any interview process, vetting or qualification.
Moreover,
I am deeply worried about the risk of a breach of fiduciary duty. I believe that some recent decisions and actions taken by the board
are not in alignment with the best interests of our stakeholders. As a fiduciary, it is my responsibility to act in the best interests
of the company and its shareholders, and I feel that I can no longer fulfill this duty in good conscience given the current trajectory.
I
hope that my resignation will prompt a careful review of the board’s strategic direction and decision-making processes. It is my
sincere hope that Parks America will continue to thrive and uphold the values and responsibilities we all hold dear.
Thank
you for the opportunity to serve on the board. I have valued the experience and the relationships formed during my tenure on the board
and with the company.
Sincerely,
Lisa
Brady
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