Parks! America (PRKA) 10-K 8 Dec 17 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Oct. 01, 2017	Dec. 04, 2017	Mar. 31, 2017
Details
Registrant Name	PARKS AMERICA, INC
Registrant CIK	1,297,937
SEC Form	10-K
Period End date	Oct. 1, 2017
Fiscal Year End	--10-01
Trading Symbol	prka
Tax Identification Number (TIN)	910,626,756
Number of common stock shares outstanding		74,671,537
Public Float			$ 5,137,659
Filer Category	Smaller Reporting Company
Current with reporting	Yes
Voluntary filer	No
Well-known Seasoned Issuer	No
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Incorporation, State Country Name	Nevada
Entity Address, Address Line One	1300 Oak Grove Road
Entity Address, City or Town	Pine Mountain
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	31,822
City Area Code	706
Local Phone Number	663-8744
Entity Listing, Par Value Per Share	$ 0.0001

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Oct. 01, 2017	Oct. 02, 2016
ASSETS
Cash - unrestricted		$ 3,204,043	$ 1,482,777
Cash - restricted	[1]	0	456,492
Inventory		157,320	107,573
Prepaid expenses		309,626	87,760
Total current assets		3,670,989	2,134,602
Property and equipment, net		6,464,850	6,432,897
Intangible assets, net		2,200	3,000
Deferred tax asset		160,355	777,124
Other assets		9,199	8,500
Total assets		10,307,593	9,356,123
Liabilities
Accounts payable		137,717	24,106
Other current liabilities		281,155	231,392
Accrued judgment award	[2]	0	372,416
Current portion of long-term debt, net		111,496	104,652
Total current liabilities		530,368	732,566
Long-term debt, net		2,990,417	3,113,603
Total liabilities		3,520,785	3,846,169
Stockholders' equity
Common Stock, Value, Issued		74,671	74,531
Capital in excess of par		4,825,666	4,809,606
Treasury stock		(3,250)	(3,250)
Retained earnings		1,889,721	629,067
Total stockholders' equity		6,786,808	5,509,954
Total liabilities and stockholders' equity		$ 10,307,593	$ 9,356,123
[1]	Note 3
[2]	Note 9

Consolidated Balance Sheets - P

Consolidated Balance Sheets - Parenthetical - $ / shares	Oct. 01, 2017	Oct. 02, 2016
Details
Common Stock, Shares Authorized	300,000,000	300,000,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares, Issued	74,671,537	74,531,537
Common Stock, Shares, Outstanding	74,671,537	74,531,537

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Details
Net sales	$ 6,164,130	$ 4,964,193
Sale of animals	74,134	62,242
Total net sales	6,238,264	5,026,435
Cost of sales	607,987	542,936
Selling, general and administrative	3,081,628	2,645,548
Judgment award	0	68,088
Depreciation and amortization	386,065	342,008
(Gain) loss on disposal of operating assets, net	17,745	11,877
Income from operations	2,144,839	1,415,978
Other income (expense), net	91,373	9,350
Interest expense	(200,258)	(214,495)
Income before income taxes	2,035,954	1,210,833
Income tax provision	775,300	(690,724)
Net income	$ 1,260,654	$ 1,901,557
Income per share - basic and diluted	$ 0.02	$ 0.03
Weighted average shares outstanding (in 000's) - basic and diluted	74,645	74,499

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($)		Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Total
Equity Balance, Starting at Sep. 27, 2015		$ 74,381	$ 4,801,506	$ (3,250)	$ (1,272,490)	$ 3,600,147
Shares Outstanding, Starting at Sep. 27, 2015		74,381,537
Stock Issued During Period, Value, New Issues	[1]	$ 150	8,100	0	0	8,250
Stock Issued During Period, Shares, New Issues	[1]	150,000
Net Income (Loss)		$ 0	0	0	1,901,557	1,901,557
Shares Outstanding, Ending at Oct. 02, 2016		74,531,537
Equity Balance, Ending at Oct. 02, 2016		$ 74,531	4,809,606	(3,250)	629,067	5,509,954
Stock Issued During Period, Value, New Issues	[1]	$ 150	16,050	0	0	16,200
Stock Issued During Period, Shares, New Issues	[1]	150,000
Common Stock Returned, Value	[2]	$ (10)	10	0	0	0
Common Stock Returned, Shares	[2]	(10,000)
Net Income (Loss)		$ 0	0	0	1,260,654	1,260,654
Shares Outstanding, Ending at Oct. 01, 2017		74,671,537
Equity Balance, Ending at Oct. 01, 2017		$ 74,671	$ 4,825,666	$ (3,250)	$ 1,889,721	$ 6,786,808
[1]	Issuance of common stock to Directors
[2]	Common stock returned to the Company in conjunction with a legal settlement.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
OPERATING ACTIVITIES:
Net income	$ 1,260,654	$ 1,901,557
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization expense	386,065	342,008
Interest expense - loan fee amortization	10,409	10,408
(Gain) loss on disposal of assets	17,745	11,877
Stock-based compensation	16,200	8,250
Deferred taxes	616,769	(777,124)
Changes in assets and liabilities
(Increase) decrease in inventory	(49,747)	31,751
(Increase) decrease in prepaid expenses	(221,866)	(127)
Increase (decrease) in accounts payable	113,611	(117,298)
Increase (decrease) in other current liabilities	49,763	(16,057)
Increase (decrease) in accrued judgment award	(372,416)	68,088
Net cash provided by operating activities	1,827,187	1,463,333
INVESTING ACTIVITIES:
Acquisition of property and equipment	(438,352)	(431,078)
Proceeds from the disposition of property and equipment	2,690	4,087
(Increase) decrease in restricted cash	456,492	0
Net cash provided by (used in) investing activities	20,830	(426,991)
FINANCING ACTIVITIES:
Proceeds from lines of credit and related party borrowings	0	220,000
Repayment of lines of credit and related party borrowings	0	(220,000)
Payments on notes payable	(126,751)	(116,661)
Net cash used in financing activities	(126,751)	(116,661)
Net increase in cash	1,721,266	919,681
Cash at beginning of period	1,482,777	563,096
Cash at end of period	3,204,043	1,482,777
Supplemental Cash Flow Information:
Cash paid for interest	189,378	201,972
Cash paid for income taxes	$ 142,270	$ 88,505

Note 1 - Organization

Note 1 - Organization	12 Months Ended
	Oct. 01, 2017
Notes
Note 1 - Organization	NOTE 1. ORGANIZATION Parks! America, Inc. (“Parks!” or the “Company”) was originally incorporated on July 30, 1954 as Painted Desert Uranium & Oil Co., Inc. in Washington State. On October 1, 2002, Painted Desert Uranium & Oil Co., Inc. changed its name to Royal Pacific Resources, Inc. and its corporate domicile to the State of Nevada. On December 19, 2003, Royal Pacific Resources, Inc. acquired the assets of Great Western Parks LLC pursuant to a Share Exchange Agreement that resulted in the Company assuming control and changing the corporate name to Great American Family Parks, Inc. The acquisition was accounted for as a reverse acquisition in which Great Western Parks was considered to be the acquirer of Royal Pacific Resources for reporting purposes. On June 11, 2008, the Company changed its name from Great American Family Parks, Inc. to Parks! America, Inc. The Company owns and operates through wholly owned subsidiaries two regional theme parks and is in the business of acquiring, developing and operating local and regional theme parks and attractions in the United States. The Company’s wholly owned subsidiaries are Wild Animal Safari, Inc. a Georgia corporation (“Wild Animal – Georgia”) and Wild Animal, Inc., a Missouri corporation (“Wild Animal – Missouri”). Wild Animal – Georgia owns and operates the Wild Animal Safari theme park in Pine Mountain, Georgia (the “Georgia Park”). Wild Animal – Missouri owns and operates the Wild Animal Safari theme park located in Strafford, Missouri (the “Missouri Park”). The Company acquired the Georgia Park on June 13, 2005, and the Missouri Park on March 5, 2008. The Parks are open year round but experience increased seasonal attendance, typically beginning in the latter half of March through early September. On a combined basis, net sales for the third and fourth quarter of the last two fiscal years represented approximately 64% to 67% of annual net sales.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Oct. 01, 2017
Notes
Note 2 - Significant Accounting Policies	NOTE 2. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation: Principles of Consolidation: Accounting Method: Estimates and Assumptions: Fiscal Year End: Reclassifications: Financial and Concentrations Risk: Trade Accounts Receivable: Inventory: Property and Equipment: October 1, 2017 October 2, 2016 Depreciable Lives Land $ 2,507,180 $ 2,507,180 not applicable Ground improvements 935,904 824,427 7-25 years Buildings and structures 2,891,668 2,882,285 10-39 years Animal shelters and habitats 1,330,653 1,219,023 10-39 years Park animals 741,894 642,769 5-10 years Equipment - concession and related 209,665 221,493 3-15 years Equipment and vehicles - yard and field 541,703 512,445 3-15 years Vehicles - buses and rental 200,764 186,932 3-5 years Rides and entertainment 180,466 181,867 5-7 years Furniture and fixtures 60,485 60,485 5-10 years Property and equipment, cost 9,600,382 9,238,906 Less accumulated depreciation (3,135,532) (2,806,009) Property and equipment, net $ 6,464,850 $ 6,432,897 Other Intangible assets: Impairment of Long-Lived Assets: Other Current Liabilities: October 1, 2017 October 2, 2016 Accrued income taxes $ 62,650 $ 45,426 Deferred revenue 47,607 16,532 Accrued property taxes 37,557 37,408 Accrued sales taxes 32,865 28,928 Accrued wages and payroll taxes 22,644 23,814 Other accrued liabilities 77,832 79,284 Other current liabilities $ 281,155 $ 231,392 Financial Instruments: Revenue Recognition: Advertising and Market Development: Stock Based Compensation: Income Taxes: Basic and Diluted Net Income (Loss) Per Share: Basic and diluted net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the applicable weighted average number of common shares outstanding in each period. Dividend Policy: Recent Accounting Pronouncements:

Note 3 - Restricted Cash

Note 3 - Restricted Cash	12 Months Ended
	Oct. 01, 2017
Notes
Note 3 - Restricted Cash	NOTE 3. RESTRICTED CASH As of February 5, 2015, the Company was required to post a security of $456,492 (the “Security Amount”) in connection with the Company’s appeal of a summary judgment and award of costs more fully described in “NOTE 9. COMMITMENTS AND CONTINGENCIES” herein. The Company deposited the Security Amount, in cash, in a newly established account with Fifth Third Bank, an Ohio Banking Corporation (“Fifth Third”). On April 8, 2015, Fifth Third issued a “Letter of Credit” equal to the Security Amount to the “Harper Defendants” (as that term is defined in Note 9). On November 8, 2016, $372,416 was paid out to the Harper Defendants against the Letter of Credit as a final settlement of the judgment and award of costs. As a result, the balance of the security amount, net of fees, was no longer restricted and on November 17, 2016 approximately $79,300 was returned to the Company as unrestricted funds.

Note 4 - Long-Term Debt

Note 4 - Long-Term Debt	12 Months Ended
	Oct. 01, 2017
Notes
Note 4 - Long-Term Debt	NOTE 4. LONG-TERM DEBT On January 9, 2013, the Company completed a refinancing transaction (the “Refinancing Loan”) with Commercial Bank & Trust Company of Troup County (“CB&T”) as lender. The Refinancing Loan was for a principal amount of $3,752,000 and has a 20-year term. The Refinancing Loan is secured by substantially all the assets of the Company and its wholly owned subsidiaries. The Refinancing Loan bears interest at the rate of Prime Rate plus 2.50%, resulting in a rate of 5.75% during the first five years of the loan term. Thereafter, the interest rate will be re-priced every five years based on the then-Prime Rate plus 2.50%, with the first re-pricing set to occur effective January 9, 2018. During the first four months following the closing of the Refinancing Loan the Company made interest-only payments. The minimum required monthly payment is approximately $26,343 during the first five years of the Refinancing Loan term. The closing costs for the Refinancing Loan totaled $175,369 and are being amortized over the 20-year life of the loan. As of October 1, 2017 October 2, 2016 Refinancing Loan principal outstanding $ 3,239,756 $ 3,366,507 Less: unamortized debt closing costs (137,843) (148,252) Gross long-term debt 3,101,913 3,218,255 Less current portion of long-term debt, net of unamortized debt closing costs (111,496) (104,652) Long-term debt $ 2,990,417 $ 3,113,603 As of October 1, 2017, the scheduled future principal maturities, by fiscal year, are as follows: Principal maturity by fiscal year 2018 $ 121,904 2019 140,504 2020 148,799 2021 157,584 2022 166,888 thereafter 2,504,077 Total $ 3,239,756 Interest expense of $200,258 and $214,495 for the year ended October 1, 2017 and October 2, 2016, respectively, includes $10,409 and $10,408, respectively, of amortization of debt closing costs in each period. Effective October 3, 2016, the Company retroactively adopted the requirements of ASU No. 2015-03, Interest – Imputation of Interest (Subtopic 835-50): Simplifying the Presentation of Debt Issuance Costs

Note 5 - Line Of Credit

Note 5 - Line Of Credit	12 Months Ended
	Oct. 01, 2017
Notes
Note 5 - Line Of Credit	NOTE 5. LINE OF CREDIT The Company maintains a $350,000 line of credit loan (the “LOC”) from CB&T for working capital purposes. This LOC has an initial term of seven years, ending on January 8, 2020, and is subject to the satisfactory performance by the Company. The LOC interest rate is tied to the prime rate and was 6.25% as of October 2, 2017, with a minimum rate of 5.25%. The closing costs for the LOC totaled $11,482 and are being amortized over the initial seven-year term of the loan. As of October 1, 2017 and October 2, 2016, respectively, there was no outstanding balance against the LOC. When applicable, all advances on the Company’s LOC are recorded as current liabilities.

Note 6 - Stockholders' Equity

Note 6 - Stockholders' Equity	12 Months Ended
	Oct. 01, 2017
Notes
Note 6 - Stockholders' Equity	NOTE 6. STOCKHOLDERS’ EQUITY Shares of common stock issued for service to the Company are valued based on market price on the date of issuance. On December 20, 2016, the Company awarded a total of 150,000 shares of its common stock to six Directors for their service on the Board of Directors at a fair market value of $0.108 per share or $16,200, which was reported as an expense in the first quarter of the 2017 fiscal year. On December 18, 2015, the Company awarded 150,000 shares of its common stock to six Directors for their service on the Board of Directors at a fair market value of $0.055 per share or $8,250, which was reported as an expense in the first quarter of the 2016 fiscal year. Officers, Directors and their controlled entities own approximately 55.6% of the outstanding common stock of the Company as of October 1, 2017.

Note 7 - Significant Transactio

Note 7 - Significant Transactions With Related Parties	12 Months Ended
	Oct. 01, 2017
Notes
Note 7 - Significant Transactions With Related Parties	NOTE 7. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES Employment Agreements: Effective June 1, 2009, the Company entered into an employment agreement with Dale Van Voorhis (the “2009 Van Voorhis Employment Agreement”) to serve as the Company’s Chief Operating Officer. Effective January 27, 2011, Mr. Van Voorhis was appointed as the Company’s Chief Executive Officer. Effective June 1, 2016, the Company and Mr. Van Voorhis entered into the “2016 Van Voorhis Employment Agreement”. Pursuant to the 2016 Van Voorhis Employment Agreement, Mr. Van Voorhis receives an initial base annual compensation in the amount of $90,000 per year, subject to annual review by the Board of Directors. The 2016 Van Voorhis Employment Agreement has a term of two years and entitles Mr. Van Voorhis to participate in any deferred compensation plan the Company may adopt during the term of his employment with the Company. On April 1, 2008, the Company entered into an employment agreement with James Meikle (the “2008 Meikle Employment Agreement”) pursuant to which Mr. Meikle was hired to serve as the President and Chief Executive Officer of each of the Company’s wholly owned subsidiaries. Effective January 27, 2011, Mr. Meikle was appointed as the Company’s Chief Operating Officer. Effective April 1, 2017, the Company and Mr. Meikle entered into the “2017 Meikle Employment Agreement”. Pursuant to the 2017 Meikle Employment Agreement, Mr. Meikle receives an initial base annual compensation in the amount of $135,000 per year, subject to annual review by the Board of Directors. The 2017 Meikle Employment Agreement has a term of two years and entitles Mr. Meikle to participate in any deferred compensation plan the Company may adopt during the term of his employment with the Company. Effective January 1, 2014, the Company entered into an employment agreement with Todd R. White (the “White Employment Agreement”) to serve as the Company’s Chief Financial Officer. Pursuant to the White Employment Agreement, Mr. White received an initial base annual compensation of $50,000 per year, subject to annual review by the Board of Directors. Mr. White also received a $10,000 signing bonus. Effective January 1, 2015, Mr. White’s annual base compensation was increased to $60,000. The White Employment Agreement has a term of five years and entitles Mr. White to participate in any deferred compensation plan the Company may adopt during the term of his employment with the Company. Each of the foregoing employment agreements contains provisions for severance compensation in the event an agreement is (i) terminated early by the Company without cause or (ii) in the event of a change in control of the Company. The aggregate severance compensation in these agreements totals $495,000.

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	Oct. 01, 2017
Notes
Note 8 - Income Taxes	NOTE 8. INCOME TAXES The provision for income tax consists of the following: For the year ended October 1, 2017 October 2, 2016 Federal $ 649,700 $ (762,724) State 125,600 72,000 Total tax provision $ 775,300 $ (690,724) For the year ended October 1, 2017, the Company reported a pre-tax profit of $2,035,954 and utilized a portion of its Federal net operating loss carry-forward to offset its Federal tax liability, resulting in a zero regular Federal income tax liability. However, the Company has estimated it will owe approximately $30,300 in Federal alternative minimum tax for its 2017 fiscal year. The provision for Federal income tax consists of the following: For the year ended Federal income tax attributable to: October 1, 2017 October 2, 2016 Current operations $ 662,104 $ 410,438 Alternative minimum tax 30,300 14,400 State tax benefit (42,704) - Deferred tax benefit - (126,621) Valuation allowance - (1,060,941) Net provision for Federal income taxes $ 649,700 $ (762,724) The cumulative tax effect, at the expected rate of 34%, of significant items comprising our net deferred tax asset is as follows: As of Deferred tax asset attributable to: October 1, 2017 October 2, 2016 Net operating loss carryforward $ 160,355 $ 650,503 Accrued liabilities - 126,621 Net deferred tax asset $ 160,355 $ 777,124 The cumulative Federal net operating loss carry-forward is approximately $471,000 as of October 1, 2017 and will expire beginning in the year 2026. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $471,000 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, Federal net operating loss carry forwards may be limited as to use in future years. Prior to October 2, 2016, the net deferred tax asset generated by the Federal net operating loss carry-forwards was fully reserved by a valuation allowance. Based on then current expectations, the Company determined that it was more likely than not it will fully realize the future benefit of its Federal net operating loss carry-forwards, therefore, the valuation allowance against its remaining net operating loss carry forwards was no longer appropriate as of October 2, 2016. For the fiscal years ended October 1, 2017 and October 2, 2016, the Company recorded a provision for State of Georgia income taxes of $125,600 and $72,000, respectively.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	12 Months Ended
	Oct. 01, 2017
Notes
Note 9 - Commitments and Contingencies	NOTE 9. COMMITMENTS AND CONTINGENCIES As of March 30, 2017, the Company entered into a settlement and release agreement (the “Eastland Settlement Agreement”) with Larry Eastland, the Company’s former President and CEO thereby bringing to a close litigation commenced by the Company in September of 2009 and identified as Parks! America, Inc. vs. Eastland; et al., Case No. 09-A-599668 in the Eighth Judicial District Court of the State of Nevada. Prior to that, in November of 2016, the Company reached a settlement with Stanley Harper and Computer Contact Service, Inc., an entity controlled by Mr. Harper (together the “Harper Defendants”) who were also defendants in that case. As a result, this litigation is terminated. The Harper Defendants received $372,416, inclusive of additional attorney’s fees, costs and interest (the “Harper Judgment Award”), which was paid on November 8, 2016. The Eastland Defendants agreed to make a settlement payment to the Company of $80,000 and assign 10,000 shares of the Company’s common stock, beneficially owned by one of the Eastland Defendants, to the Company (the “Settlement Shares”). Furthermore, the Company consented to the sale of 10,010,000 shares of common stock beneficially owned by the Eastland Defendants to Nicholas Parks (the “NP Transaction”). On April 20, 2017, the Company received the $80,000 settlement payment and the Settlement Shares. A Stipulation and Order to Dismiss the Litigation with Prejudice was filed on April 24, 2017. As part of the NP Transaction, the Company entered into a Settlement Agreement and Release with Nicholas Parks, dated as of March 30, 2017 (the “NP Settlement Agreement”). As a result of the NP Transaction, Nicholas Parks holds shares representing approximately 13.4% of the outstanding common stock of the Company. Except as described above, the Company is not a party to any pending legal proceeding, 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.

Note 10 - Business Segments

Note 10 - Business Segments	12 Months Ended
	Oct. 01, 2017
Notes
Note 10 - Business Segments	NOTE 10. BUSINESS SEGMENTS The Company manages its operations on an individual location basis. Discrete financial information is maintained for each Park and provided to corporate management for review and as a basis for decision-making. The primary performance measures used to allocate resources are Park earnings before interest and tax expense, and free cash flow. The following tables present financial information regarding each of the Company’s reportable segments: For the year ended October 1, 2017 October 2, 2016 Total net sales: Georgia $ 5,217,975 $ 4,036,873 Missouri 1,020,289 989,562 Consolidated $ 6,238,264 $ 5,026,435 Income (loss) before income taxes: Georgia $ 2,932,356 $ 2,038,176 Missouri (56,831) 5,629 Segment total 2,875,525 2,043,805 Corporate (730,686) (559,739) Judgment award - (68,088) Other income (expense), net 91,373 9,350 Interest expense (200,258) (214,495) Consolidated $ 2,035,954 $ 1,210,833 For the year ended October 1, 2017 October 2, 2016 Depreciation and amortization: Georgia $ 203,808 $ 184,695 Missouri 182,257 157,313 Corporate 10,409 10,408 Consolidated $ 396,474 $ 352,416 Capital expenditures Georgia $ 269,458 $ 254,042 Missouri 168,894 177,036 Consolidated $ 438,352 $ 431,078 As of October 1, 2017 October 2, 2016 Total assets: Georgia $ 7,206,865 $ 5,350,266 Missouri 2,714,869 2,633,066 Corporate 385,859 1,372,791 Consolidated $ 10,307,593 $ 9,356,123

Note 11 - Subsequent Events

Note 11 - Subsequent Events	12 Months Ended
	Oct. 01, 2017
Notes
Note 11 - Subsequent Events	NOTE 11. SUBSEQUENT EVENTS In accordance with ASC 855-10, the Company has analyzed its operations subsequent to October 1, 2017 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these consolidated financial statements.

Note 2 - Significant Accounti18

Note 2 - Significant Accounting Policies: Basis of Presentation (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Basis of Presentation	Basis of Presentation:

Note 2 - Significant Accounti19

Note 2 - Significant Accounting Policies: Principles of Consolidation (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Principles of Consolidation	Principles of Consolidation:

Note 2 - Significant Accounti20

Note 2 - Significant Accounting Policies: Accounting Method (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Accounting Method	Accounting Method:

Note 2 - Significant Accounti21

Note 2 - Significant Accounting Policies: Estimates and Assumptions (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Estimates and Assumptions	Estimates and Assumptions:

Note 2 - Significant Accounti22

Note 2 - Significant Accounting Policies: Fiscal Year End (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Fiscal Year End	Fiscal Year End:

Note 2 - Significant Accounti23

Note 2 - Significant Accounting Policies: Reclassifications (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Reclassifications	Reclassifications:

Note 2 - Significant Accounti24

Note 2 - Significant Accounting Policies: Financial and Concentrations Risk (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Financial and Concentrations Risk	Financial and Concentrations Risk:

Note 2 - Significant Accounti25

Note 2 - Significant Accounting Policies: Trade Accounts Receivable (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Trade Accounts Receivable	Trade Accounts Receivable:

Note 2 - Significant Accounti26

Note 2 - Significant Accounting Policies: Inventory (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Inventory	Inventory:

Note 2 - Significant Accounti27

Note 2 - Significant Accounting Policies: Property and Equipment (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Property and Equipment	Property and Equipment: October 1, 2017 October 2, 2016 Depreciable Lives Land $ 2,507,180 $ 2,507,180 not applicable Ground improvements 935,904 824,427 7-25 years Buildings and structures 2,891,668 2,882,285 10-39 years Animal shelters and habitats 1,330,653 1,219,023 10-39 years Park animals 741,894 642,769 5-10 years Equipment - concession and related 209,665 221,493 3-15 years Equipment and vehicles - yard and field 541,703 512,445 3-15 years Vehicles - buses and rental 200,764 186,932 3-5 years Rides and entertainment 180,466 181,867 5-7 years Furniture and fixtures 60,485 60,485 5-10 years Property and equipment, cost 9,600,382 9,238,906 Less accumulated depreciation (3,135,532) (2,806,009) Property and equipment, net $ 6,464,850 $ 6,432,897

Note 2 - Significant Accounti28

Note 2 - Significant Accounting Policies: Intangible assets (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Intangible assets	Other Intangible assets:

Note 2 - Significant Accounti29

Note 2 - Significant Accounting Policies: Impairment of Long-Lived Assets (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets:

Note 2 - Significant Accounti30

Note 2 - Significant Accounting Policies: Other Current Liabilities (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Other Current Liabilities	Other Current Liabilities: October 1, 2017 October 2, 2016 Accrued income taxes $ 62,650 $ 45,426 Deferred revenue 47,607 16,532 Accrued property taxes 37,557 37,408 Accrued sales taxes 32,865 28,928 Accrued wages and payroll taxes 22,644 23,814 Other accrued liabilities 77,832 79,284 Other current liabilities $ 281,155 $ 231,392

Note 2 - Significant Accounti31

Note 2 - Significant Accounting Policies: Financial Instruments (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Financial Instruments	Financial Instruments:

Note 2 - Significant Accounti32

Note 2 - Significant Accounting Policies: Revenue Recognition (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Revenue Recognition	Revenue Recognition:

Note 2 - Significant Accounti33

Note 2 - Significant Accounting Policies: Advertising and Market Development (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Advertising and Market Development	Advertising and Market Development:

Note 2 - Significant Accounti34

Note 2 - Significant Accounting Policies: Stock Based Compensation (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Stock Based Compensation	Stock Based Compensation:

Note 2 - Significant Accounti35

Note 2 - Significant Accounting Policies: Income Taxes (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Income Taxes	Income Taxes:

Note 2 - Significant Accounti36

Note 2 - Significant Accounting Policies: Basic and Diluted Net Income (Loss) Per Share (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Basic and Diluted Net Income (Loss) Per Share	Basic and Diluted Net Income (Loss) Per Share: Basic and diluted net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the applicable weighted average number of common shares outstanding in each period.

Note 2 - Significant Accounti37

Note 2 - Significant Accounting Policies: Dividend Policy (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Dividend Policy	Dividend Policy:

Note 2 - Significant Accounti38

Note 2 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	12 Months Ended
	Oct. 01, 2017
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements:

Note 2 - Significant Accounti39

Note 2 - Significant Accounting Policies: Property and Equipment: Property, Plant and Equipment (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Property, Plant and Equipment	October 1, 2017 October 2, 2016 Depreciable Lives Land $ 2,507,180 $ 2,507,180 not applicable Ground improvements 935,904 824,427 7-25 years Buildings and structures 2,891,668 2,882,285 10-39 years Animal shelters and habitats 1,330,653 1,219,023 10-39 years Park animals 741,894 642,769 5-10 years Equipment - concession and related 209,665 221,493 3-15 years Equipment and vehicles - yard and field 541,703 512,445 3-15 years Vehicles - buses and rental 200,764 186,932 3-5 years Rides and entertainment 180,466 181,867 5-7 years Furniture and fixtures 60,485 60,485 5-10 years Property and equipment, cost 9,600,382 9,238,906 Less accumulated depreciation (3,135,532) (2,806,009) Property and equipment, net $ 6,464,850 $ 6,432,897

Note 2 - Significant Accounti40

Note 2 - Significant Accounting Policies: Other Current Liabilities: Other Current Liabilities (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Other Current Liabilities	October 1, 2017 October 2, 2016 Accrued income taxes $ 62,650 $ 45,426 Deferred revenue 47,607 16,532 Accrued property taxes 37,557 37,408 Accrued sales taxes 32,865 28,928 Accrued wages and payroll taxes 22,644 23,814 Other accrued liabilities 77,832 79,284 Other current liabilities $ 281,155 $ 231,392

Note 4 - Long-Term Debt_ Schedu

Note 4 - Long-Term Debt: Schedule of Debt (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Schedule of Debt	As of October 1, 2017 October 2, 2016 Refinancing Loan principal outstanding $ 3,239,756 $ 3,366,507 Less: unamortized debt closing costs (137,843) (148,252) Gross long-term debt 3,101,913 3,218,255 Less current portion of long-term debt, net of unamortized debt closing costs (111,496) (104,652) Long-term debt $ 2,990,417 $ 3,113,603

Note 4 - Long-Term Debt_ Sche42

Note 4 - Long-Term Debt: Schedule of Maturities of Long-term Debt (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Schedule of Maturities of Long-term Debt	Principal maturity by fiscal year 2018 $ 121,904 2019 140,504 2020 148,799 2021 157,584 2022 166,888 thereafter 2,504,077 Total $ 3,239,756

Note 8 - Income Taxes_ Schedule

Note 8 - Income Taxes: Schedule of Provision for Income Tax (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Schedule of Provision for Income Tax	For the year ended October 1, 2017 October 2, 2016 Federal $ 649,700 $ (762,724) State 125,600 72,000 Total tax provision $ 775,300 $ (690,724)

Note 8 - Income Taxes_ Schedu44

Note 8 - Income Taxes: Schedule of Components of Federal Income Tax Expense (Benefit) (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Schedule of Components of Federal Income Tax Expense (Benefit)	For the year ended Federal income tax attributable to: October 1, 2017 October 2, 2016 Current operations $ 662,104 $ 410,438 Alternative minimum tax 30,300 14,400 State tax benefit (42,704) - Deferred tax benefit - (126,621) Valuation allowance - (1,060,941) Net provision for Federal income taxes $ 649,700 $ (762,724)

Note 8 - Income Taxes_ Schedu45

Note 8 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Schedule of Deferred Tax Assets and Liabilities	As of Deferred tax asset attributable to: October 1, 2017 October 2, 2016 Net operating loss carryforward $ 160,355 $ 650,503 Accrued liabilities - 126,621 Net deferred tax asset $ 160,355 $ 777,124

Note 10 - Business Segments_ Fi

Note 10 - Business Segments: Financial information regarding each of the Company's reportable segments, Table 1 (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Financial information regarding each of the Company's reportable segments, Table 1	For the year ended October 1, 2017 October 2, 2016 Total net sales: Georgia $ 5,217,975 $ 4,036,873 Missouri 1,020,289 989,562 Consolidated $ 6,238,264 $ 5,026,435 Income (loss) before income taxes: Georgia $ 2,932,356 $ 2,038,176 Missouri (56,831) 5,629 Segment total 2,875,525 2,043,805 Corporate (730,686) (559,739) Judgment award - (68,088) Other income (expense), net 91,373 9,350 Interest expense (200,258) (214,495) Consolidated $ 2,035,954 $ 1,210,833

Note 10 - Business Segments_ 47

Note 10 - Business Segments: Financial information regarding each of the Company's reportable segments, Table 2 (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Financial information regarding each of the Company's reportable segments, Table 2	For the year ended October 1, 2017 October 2, 2016 Depreciation and amortization: Georgia $ 203,808 $ 184,695 Missouri 182,257 157,313 Corporate 10,409 10,408 Consolidated $ 396,474 $ 352,416 Capital expenditures Georgia $ 269,458 $ 254,042 Missouri 168,894 177,036 Consolidated $ 438,352 $ 431,078

Note 10 - Business Segments_ 48

Note 10 - Business Segments: Financial information regarding each of the Company's reportable segments, Table 3 (Tables)	12 Months Ended
	Oct. 01, 2017
Tables/Schedules
Financial information regarding each of the Company's reportable segments, Table 3	As of October 1, 2017 October 2, 2016 Total assets: Georgia $ 7,206,865 $ 5,350,266 Missouri 2,714,869 2,633,066 Corporate 385,859 1,372,791 Consolidated $ 10,307,593 $ 9,356,123

Note 1 - Organization (Details)

Note 1 - Organization (Details)	12 Months Ended
	Oct. 01, 2017
Details
Entity Incorporation, Date of Incorporation	Jul. 30, 1954
Entity Information, Former Legal or Registered Name	Painted Desert Uranium & Oil Co.
Entity Incorporation, State Country Name	Nevada

Note 2 - Significant Accounti50

Note 2 - Significant Accounting Policies: Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Land
Property, Plant and Equipment, Gross	$ 2,507,180	$ 2,507,180
Ground Improvements
Property, Plant and Equipment, Gross	935,904	824,427
Building
Property, Plant and Equipment, Gross	2,891,668	2,882,285
Animal shelters and habitats
Property, Plant and Equipment, Gross	1,330,653	1,219,023
Park animals
Property, Plant and Equipment, Gross	741,894	642,769
Equipment - concession and related
Property, Plant and Equipment, Gross	209,665	221,493
Equipment and vehicles - yard and field
Property, Plant and Equipment, Gross	541,703	512,445
Vehicles - buses and rental
Property, Plant and Equipment, Gross	200,764	186,932
Rides and entertainment
Property, Plant and Equipment, Gross	180,466	181,867
Furniture and Fixtures
Property, Plant and Equipment, Gross	60,485	60,485
Property, Plant and Equipment, Gross	9,600,382	9,238,906
Less accumulated depreciation	(3,135,532)	(2,806,009)
Property and equipment, net	$ 6,464,850	$ 6,432,897
Minimum | Ground Improvements
Depreciable Lives	7 years
Minimum | Building
Depreciable Lives	10 years
Minimum | Animal shelters and habitats
Depreciable Lives	10 years
Minimum | Park animals
Depreciable Lives	5 years
Minimum | Equipment - concession and related
Depreciable Lives	3 years
Minimum | Equipment and vehicles - yard and field
Depreciable Lives	3 years
Minimum | Vehicles - buses and rental
Depreciable Lives	3 years
Minimum | Rides and entertainment
Depreciable Lives	5 years
Minimum | Furniture and Fixtures
Depreciable Lives	5 years
Maximum | Ground Improvements
Depreciable Lives	25 years
Maximum | Building
Depreciable Lives	39 years
Maximum | Animal shelters and habitats
Depreciable Lives	39 years
Maximum | Park animals
Depreciable Lives	10 years
Maximum | Equipment - concession and related
Depreciable Lives	15 years
Maximum | Equipment and vehicles - yard and field
Depreciable Lives	15 years
Maximum | Vehicles - buses and rental
Depreciable Lives	5 years
Maximum | Rides and entertainment
Depreciable Lives	7 years
Maximum | Furniture and Fixtures
Depreciable Lives	10 years

Note 2 - Significant Accounti51

Note 2 - Significant Accounting Policies: Other Current Liabilities: Other Current Liabilities (Details) - USD ($)	Oct. 01, 2017	Oct. 02, 2016
Details
Accrued income taxes	$ 62,650	$ 45,426
Deferred revenue	47,607	16,532
Accrued property taxes	37,557	37,408
Accrued sales taxes	32,865	28,928
Accrued wages and payroll taxes	22,644	23,814
Other accrued liabilities	77,832	79,284
Other current liabilities	$ 281,155	$ 231,392

Note 4 - Long-Term Debt_ Debt i

Note 4 - Long-Term Debt: Debt issued on January 9, 2013 (Details)	12 Months Ended
	Oct. 01, 2017USD ($)
Details
Debt Instrument, Description	Refinancing Loan
Debt Instrument, Face Amount	$ 3,752,000
Debt Instrument, Term	20 years
Debt Instrument, Interest Rate Terms	The Refinancing Loan bears interest at the rate of Prime Rate plus 2.50%, resulting in a rate of 5.75% during the first five years of the loan term. Thereafter, the interest rate will be re-priced every five years based on the then-Prime Rate plus 2.50%
Debt Instrument, Fee Amount	$ 175,369

Note 4 - Long-Term Debt_ Sche53

Note 4 - Long-Term Debt: Schedule of Debt (Details) - USD ($)	Oct. 01, 2017	Oct. 02, 2016
Details
Refinancing Loan principal outstanding	$ 3,239,756	$ 3,366,507
Less: unamortized debt closing costs	(137,843)	(148,252)
Gross long-term debt	3,101,913	3,218,255
Less current portion of long-term debt, net of unamortized debt closing costs	(111,496)	(104,652)
Long-term debt	$ 2,990,417	$ 3,113,603

Note 4 - Long-Term Debt_ Sche54

Note 4 - Long-Term Debt: Schedule of Maturities of Long-term Debt (Details)	Oct. 01, 2017USD ($)
Details
Long-term Debt, Maturities, Repayments of Principal in Year One	$ 121,904
Long-term Debt, Maturities, Repayments of Principal in Year Two	140,504
Long-term Debt, Maturities, Repayments of Principal in Year Three	148,799
Long-term Debt, Maturities, Repayments of Principal in Year Four	157,584
Long-term Debt, Maturities, Repayments of Principal in Year Five	166,888
Long-term Debt, Maturities, Repayments of Principal after Year Five	2,504,077
Long-term Debt	$ 3,239,756

Note 4 - Long-Term Debt_ Intere

Note 4 - Long-Term Debt: Interest Expense and Amortization of Debt Closing Costs (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Details
Long-term debt, Interest Expense	$ 200,258	$ 214,495
Amortization of debt closing costs	$ 10,409	$ 10,408

Note 5 - Line Of Credit (Detail

Note 5 - Line Of Credit (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Details
Line of Credit Facility, Maximum Borrowing Capacity	$ 350,000
Line of Credit Facility, Description	line of credit loan (the “LOC”) from CB&T for working capital purposes
Line of Credit Facility, Expiration Date	Jan. 8, 2020
Line of Credit Facility, Covenant Terms	subject to the satisfactory performance by the Company
Line of Credit Facility, Interest Rate Description	The LOC interest rate is tied to the prime rate and was 6.25% as of October 2, 2017, with a minimum rate of 5.25%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0	$ 0

Note 7 - Significant Transact57

Note 7 - Significant Transactions With Related Parties (Details)	12 Months Ended
	Oct. 01, 2017
2009 Van Voorhis Employment Agreement
Related Party Transaction, Date	Jun. 1, 2009
Related Party Transaction, Description of Transaction	Company entered into an employment agreement with Dale Van Voorhis
2008 Meikle Employment Agreement
Related Party Transaction, Date	Apr. 1, 2008
Related Party Transaction, Description of Transaction	Company entered into an employment agreement with James Meikle
White Employment Agreement
Related Party Transaction, Date	Jan. 1, 2014
Related Party Transaction, Description of Transaction	Company entered into an employment agreement with Todd R. White

Note 8 - Income Taxes_ Schedu58

Note 8 - Income Taxes: Schedule of Provision for Income Tax (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Details
Federal	$ 649,700	$ (762,724)
State	125,600	72,000
Total tax provision	$ 775,300	$ (690,724)

Note 8 - Income Taxes (Details)

Note 8 - Income Taxes (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Details
Income before income taxes	$ 2,035,954	$ 1,210,833

Note 8 - Income Taxes_ Schedu60

Note 8 - Income Taxes: Schedule of Components of Federal Income Tax Expense (Benefit) (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Details
Current operations	$ 662,104	$ 410,438
Alternative minimum tax	30,300	14,400
State tax benefit	(42,704)	0
Deferred tax benefit	0	(126,621)
Valuation allowance	0	(1,060,941)
Net provision for Federal income taxes	$ 649,700	$ (762,724)

Note 8 - Income Taxes_ Schedu61

Note 8 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Oct. 01, 2017	Oct. 02, 2016
Details
Net operating loss carryforward	$ 160,355	$ 650,503
Accrued liabilities	0	126,621
Net deferred tax asset	$ 160,355	$ 777,124

Note 10 - Business Segments_ 62

Note 10 - Business Segments: Financial information regarding each of the Company's reportable segments, Table 1 (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Georgia
Total net sales:	$ 5,217,975	$ 4,036,873
Income (loss) before income taxes:	2,932,356	2,038,176
Missouri
Total net sales:	1,020,289	989,562
Income (loss) before income taxes:	(56,831)	5,629
Consolidated
Total net sales:	6,238,264	5,026,435
Income (loss) before income taxes:	2,035,954	1,210,833
Segment total
Income (loss) before income taxes:	2,875,525	2,043,805
Corporate
Income (loss) before income taxes:	(730,686)	(559,739)
Judgment award
Income (loss) before income taxes:	0	(68,088)
Other income (expense), net
Income (loss) before income taxes:	91,373	9,350
Interest expense
Income (loss) before income taxes:	$ (200,258)	$ (214,495)

Note 10 - Business Segments_ 63

Note 10 - Business Segments: Financial information regarding each of the Company's reportable segments, Table 2 (Details) - USD ($)	12 Months Ended
	Oct. 01, 2017	Oct. 02, 2016
Georgia
Depreciation and amortization:	$ 203,808	$ 184,695
Capital expenditures	269,458	254,042
Missouri
Depreciation and amortization:	182,257	157,313
Capital expenditures	168,894	177,036
Corporate
Depreciation and amortization:	10,409	10,408
Consolidated
Depreciation and amortization:	396,474	352,416
Capital expenditures	$ 438,352	$ 431,078

Note 10 - Business Segments_ 64

Note 10 - Business Segments: Financial information regarding each of the Company's reportable segments, Table 3 (Details) - USD ($)	Oct. 01, 2017	Oct. 02, 2016
Georgia
Total assets:	$ 7,206,865	$ 5,350,266
Missouri
Total assets:	2,714,869	2,633,066
Corporate
Total assets:	385,859	1,372,791
Consolidated
Total assets:	$ 10,307,593	$ 9,356,123