Parks! America (PRKA) 10-Q 15 May 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Mar. 29, 2020	May 11, 2020
Details
Registrant Name	PARKS AMERICA, INC
Registrant CIK	0001297937
Fiscal Year End	--09-30
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2020
Document Transition Report	false
Entity File Number	000-51254
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	91-0626756
Entity Address, Address Line One	1300 Oak Grove Road
Entity Address, City or Town	Pine Mountain
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	31822
Entity Address, Address Description	Address of principal executive offices
Phone Fax Number Description	Issuer's telephone Number
City Area Code	706
Local Phone Number	663-8744
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,021,537
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($)	Mar. 29, 2020	Sep. 29, 2019
ASSETS
Cash	$ 2,942,037	$ 3,787,815
Accounts receivable	24,373	0
Inventory	238,801	195,201
Prepaid expenses	280,183	147,529
Total current assets	3,485,394	4,130,545
Property and equipment, net	6,698,734	6,620,405
Intangible assets, net	200	600
Other assets	115,021	11,786
Total assets	10,299,349	10,763,336
Liabilities
Accounts payable	36,324	96,270
Other current liabilities	326,729	384,160
Current portion of long-term debt, net	209,673	204,355
Total current liabilities	572,726	684,785
Long-term debt, net	1,047,388	1,154,013
Total liabilities	1,620,114	1,838,798
Stockholders' equity
Common Stock, Value, Issued	75,021	74,821
Capital in excess of par	4,889,316	4,855,516
Treasury stock	(3,250)	(3,250)
Retained earnings	3,718,148	3,997,451
Total stockholders' equity	8,679,235	8,924,538
Total liabilities and stockholders' equity	$ 10,299,349	$ 10,763,336

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) - Parenthetical - $ / shares	Mar. 29, 2020	Sep. 29, 2019
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	75,021,537	74,821,537
Common Stock, Shares, Outstanding	75,021,537	74,821,537

Consolidated Statements of Oper

Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Mar. 29, 2020	Mar. 31, 2019
Details
Net sales	$ 730,522	$ 1,003,797	$ 1,713,930	$ 1,988,508
Sale of animals	12,435	225	24,512	32,213
Total net sales	742,957	1,004,022	1,738,442	2,020,721
Cost of sales	122,905	132,629	249,765	249,962
Selling, general and administrative	763,628	781,516	1,614,845	1,564,048
Depreciation and amortization	117,500	115,199	235,000	230,398
Tornado damage and expenses, net	(24,373)	0	(24,373)	0
Loss from operations	(236,703)	(25,322)	(336,795)	(23,687)
Other income, net	7,542	8,538	15,504	15,518
Interest expense	(17,191)	(19,223)	(34,912)	(38,821)
Loss before income taxes	(246,352)	(36,007)	(356,203)	(46,990)
Income tax provision	(56,200)	(1,800)	(76,900)	2,700
Net loss	$ (190,152)	$ (34,207)	$ (279,303)	$ (49,690)
Income per share - basic and diluted	$ 0	$ 0	$ 0	$ 0
outstanding (in 000's) - basic and diluted	75,005	74,805	74,808	74,763

Consolidated Statements Changes

Consolidated Statements Changes in Stockholders' Equity (unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Total
Stockholders' Equity at Sep. 29, 2018	$ 74,721	$ 4,837,116	$ (3,250)	$ 2,900,913	$ 7,809,500
Shares Outstanding at Sep. 29, 2018	74,721,537
Net Income (Loss)	$ 0	0	0	(15,483)	(15,483)
Stockholders' Equity at Dec. 30, 2018	$ 74,721	4,837,116	(3,250)	2,885,430	7,794,017
Shares Outstanding at Dec. 30, 2018	74,721,537
Net Income (Loss)	$ 0	0	0	(34,207)	(34,207)
Stockholders' Equity at Mar. 31, 2019	$ 74,821	4,855,516	(3,250)	2,851,223	7,778,310
Shares Outstanding at Mar. 31, 2019	74,821,537
Stock Issued During Period, Value, New Issues	$ 100	18,400	0	0	18,500
Stock Issued During Period, Shares, New Issues	100,000
Stockholders' Equity at Sep. 29, 2019	$ 74,821	4,855,516	(3,250)	3,997,451	8,924,538
Shares Outstanding at Sep. 29, 2019	74,821,537
Net Income (Loss)	$ 0	0	0	(89,151)	(89,151)
Stockholders' Equity at Dec. 29, 2019	$ 74,821	4,855,516	(3,250)	3,908,300	8,835,387
Shares Outstanding at Dec. 29, 2019	74,821,537
Net Income (Loss)	$ 0	0	0	(190,152)	(190,152)
Stockholders' Equity at Mar. 29, 2020	$ 75,021	4,889,316	(3,250)	3,718,148	8,679,235
Shares Outstanding at Mar. 29, 2020	75,021,537
Stock Issued During Period, Value, New Issues	$ 200	$ 33,800	$ 0	$ 0	$ 34,000
Stock Issued During Period, Shares, New Issues	200,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
OPERATING ACTIVITIES:
Net loss	$ (279,303)	$ (49,690)
Reconciliation of net loss to net cash (used in) provided by operating activities:
Depreciation and amortization expense	235,000	230,398
Interest expense - loan fee amortization	1,120	1,120
Stock-based compensation	34,000	18,500
Changes in assets and liabilities
(Increase) decrease in accounts receivable	(24,373)	0
(Increase) decrease in inventory	(43,600)	(38,680)
(Increase) decrease in prepaid expenses	(132,654)	(101,799)
Increase (decrease) in accounts payable	(59,946)	(65,362)
Increase (decrease) in other current liabilities	(57,431)	99,697
Net cash (used in) provided by operating activities	(327,187)	94,184
INVESTING ACTIVITIES:
Acquisition of property and equipment	(312,929)	(298,592)
Deposit on pending acquisition	(103,235)	0
Net cash used in investing activities	(416,164)	(298,592)
FINANCING ACTIVITIES:
Payments on notes payable	(102,427)	(97,602)
Net cash used in financing activities	(102,427)	(97,602)
Net decrease in cash	(845,778)	(302,010)
Cash at beginning of period	3,787,815	2,674,260
Cash at end of period	2,942,037	2,372,250
Supplemental Cash Flow Information:
Cash paid for interest	33,602	37,841
Cash paid for income taxes	$ 50,000	$ 110,500

Note 1 - Organization

Note 1 - Organization	6 Months Ended
	Mar. 29, 2020
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. Subsequent to the date of period covered by this report, on April 27, 2020, the Company acquired substantially all the assets of Aggieland Safari, LLC located in Bryan, Texas. For additional information, see NOTE 10. SUBSEQUENT EVENTS. 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 67% to 68% of annual net sales. COVID-19 Impacts In March 2020, the World Health Organization characterized COVID-19, a disease caused by a novel strain of a coronavirus, as a pandemic. The rapid spread of COVID-19 has resulted in governmental authorities throughout the United States implementing a variety of containment measures with the objective of slowing the spread of the virus, including travel restrictions, shelter-in-place orders and business shutdowns. The COVID-19 pandemic and these containment measures have had, and are anticipated to continue to have, a material impact on the Company’s business. The rapid acceleration of the COVID-19 pandemic in the United States occurred at the beginning of the Company’s annual high season. The Company began to see a significant reduction in paid attendance at its Georgia and Missouri Parks beginning the week of March 9, 2020. Effective April 3, 2020, both Parks were closed as a result of shelter-in-place mandates in Georgia and Missouri. In compliance with respective state issued guidelines, the Company’s Georgia Park reopened on May 1, 2020 and its Missouri Park reopened on May 4, 2020, however, there may be longer-term negative impacts to the Company’s business, results of operations and cash flows, and financial condition as a result of the COVID-19 pandemic. These negative impacts include changes in customer behavior and preferences causing significant volatility or reductions in Park attendance, increases in operating expenses to comply with additional hygiene-related protocols, limitations in our ability to recruit and maintain staffing, limitations on our employees ability to work and travel, and significant changes in the economic or political conditions in the areas the Company’s Parks are located. Despite the Company’s efforts to manage these impacts, the ultimate impact may be material, and will depend on a number of factors beyond its control, including the duration and severity of the COVID-19 pandemic and actions by governmental authorities taken to contain its spread and mitigate its public health effects.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	6 Months Ended
	Mar. 29, 2020
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: Financial and Concentrations Risk: Trade Accounts Receivable: Inventory: Property and Equipment: March 29, 2020 September 29, 2019 Depreciable Lives Land $ 2,507,180 $ 2,507,180 not applicable Ground improvements 1,216,701 1,142,926 7-25 years Buildings and structures 3,023,568 3,023,569 10-39 years Animal shelters and habitats 1,621,965 1,412,802 10-39 years Park animals 584,584 559,425 5-10 years Equipment - concession and related 184,441 184,441 3-15 years Equipment and vehicles - yard and field 462,147 451,459 3-15 years Vehicles - buses and rental 250,261 219,910 3-5 years Rides and entertainment 208,148 204,778 5-7 years Furniture and fixtures 10,427 10,427 5-10 years Projects in process 61,040 100,616 Property and equipment, cost 10,130,462 9,817,533 Less accumulated depreciation (3,431,728) (3,197,128) Property and equipment, net $ 6,698,734 $ 6,620,405 Depreciation expense on the Company’s property and equipment for the three months and six months ended March 29, 2020 and March 31, 2019 totaled $117,300 and $234,600, respectively, and $114,999 and $229,998, respectively. Intangible assets: Impairment of Long-Lived Assets: Other Current Liabilities: March 29, 2020 September 29, 2019 Deferred revenue $ 135,448 $ 100,704 Accrued property taxes 37,791 59,723 Accrued sales taxes 37,620 31,674 Accrued wages and payroll taxes 30,305 111,150 Other accrued liabilities 85,565 80,909 Other current liabilities $ 326,729 $ 384,160 Financial Instruments: Revenue Recognition: Revenues from Contracts with Customers The Company’s major source of income is from park admissions, retail and concessions sales at its parks. Revenues from park admission fees are generally recognized upon receipt of payment at the time of the customers’ visit to the parks. Park admission fee revenues from advance online ticket purchases are deferred until the customers’ visit to the parks. Revenue from retail and concessions sales is generally recognized upon the concurrent receipt of payment and delivery of goods or services to the customer. The Company periodically sells surplus animals created from the natural breeding process that occurs within the parks. All animal sales are reported as a separate revenue line item. Sales taxes billed and collected are not included in revenue. Deferred revenues from advance online admission tickets were $135,448 and $100,704 as of March 29, 2020 and September 29, 2019, respectively. 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: Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (“Update 2019-12”) 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.

NOTE 3. LONG-TERM DEBT

NOTE 3. LONG-TERM DEBT	6 Months Ended
	Mar. 29, 2020
Notes
NOTE 3. LONG-TERM DEBT	NOTE 3. LONG-TERM DEBT On July 11, 2018, the Company, through its wholly owned subsidiary Wild Animal – Georgia, completed a refinancing transaction (the “2018 Refinancing”) with Synovus Bank (“Synovus”). The 2018 Refinancing included a term loan in the original principal amount of $1,600,000 (the “2018 Term Loan”). The 2018 Term Loan bears interest at a rate of 5.0% per annum and is payable in monthly payments of approximately $22,672, based on a seven year amortization period. The 2018 Term Loan has a maturity date of June 11, 2021, with an option to renew at 5.0% per annum for an additional 49 month term. The 2018 Term Loan is secured by a security deed on the assets of Wild Animal – Georgia. The Company paid a total of approximately $15,680 in fees and expenses in connection with the 2018 Refinancing. Interest expense of $17,191 and $19,223 for the three months ended March 29, 2020 and March 31, 2019, respectively, includes $560 of amortization of debt closing costs in each period. Interest expense of $34,912 and $38,821 for the six months ended March 29, 2020 and March 31, 2019, respectively, includes $1,120 of amortization of debt closing costs in each period. As of March 29, 2020 September 29, 2019 Term Loan principal outstanding $ 1,268,821 $ 1,371,248 Less: unamortized debt closing costs (11,760) (12,880) Gross long-term debt 1,257,061 1,358,368 Less current portion of long-term debt, net of unamortized debt closing costs (209,673) (204,355) Long-term debt $ 1,047,388 $ 1,154,013 As of March 29, 2020, the scheduled future principal maturities by fiscal year are as follows: 2020 $ 104,369 2021 217,446 2022 228,856 2023 240,864 2024 253,503 thereafter 223,783 Total $ 1,268,821

NOTE 4. LINES OF CREDIT

NOTE 4. LINES OF CREDIT	6 Months Ended
	Mar. 29, 2020
Notes
NOTE 4. LINES OF CREDIT	NOTE 4. LINE OF CREDIT On July 11, 2018, the Company, through its wholly owned subsidiary Wild Animal – Georgia, completed the 2018 Refinancing with Synovus. The 2018 Refinancing includes a line of credit of up to $350,000 (the “2018 LOC”). The 2018 LOC bears interest at a rate of 4.75% and interest only payments are due monthly. The 2018 LOC is secured by a security deed on the assets of Wild Animal – Georgia. The 2018 LOC matures on July 11, 2021, with an option to renew for an additional three-year term. If necessary, the Company intends to utilize the 2018 LOC to fund seasonal working capital needs. As of March 29, 2020 and September 29, 2019, respectively, there was no outstanding balance against the Company’s LOC. When applicable, any advance on a Company LOC is recorded as a current liability.

NOTE 5. STOCKHOLDERS' EQUITY

NOTE 5. STOCKHOLDERS' EQUITY	6 Months Ended
	Mar. 29, 2020
Notes
NOTE 5. STOCKHOLDERS' EQUITY	NOTE 5. 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 5, 2019, the Company declared its annual compensation award to four Directors for their service on the Board of Directors. Each Director was awarded $8,500, to be paid all in shares, all in cash or a combination thereof, at each Director’s election. All four Directors elected to receive shares of the Company’s common stock, totaling 50,000 each, based on the closing stock price of $0.17 per share on December 5, 2019. The total award cost of $34,000 was reported as an expense in the first quarter of the 2020 fiscal year, and the Company distributed each award on January 8, 2020. On January 14, 2019, the Company declared its annual award to five Directors for their service on the Board of Directors. Each Director was awarded 25,000 shares at $0.185 per share or the cash equivalent of $4,625. Four Directors elected to receive shares of the Company’s common stock, while the estate of one Director elected to receive its award in cash. The total award cost of $23,125 was reported as an expense in the second quarter of the 2019 fiscal year, and the Company distributed each award on January 16, 2019. Officers, Directors and their controlled entities own approximately 52.0% of the outstanding common stock of the Company as of March 29, 2020.

Note 6. - Significant Transacti

Note 6. - Significant Transactions With Related Parties	6 Months Ended
	Mar. 29, 2020
Notes
Note 6. - Significant Transactions With Related Parties	NOTE 6. SIGNIFICANT TRANSACTIONS WITH RELATED PARTIES Employment Agreements: Effective June 1, 2018, the Company and Dale Van Voorhis, the Company’s Chairman and Chief Executive Officer, entered into the “2018 Van Voorhis Employment Agreement”. Pursuant to the 2018 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 2018 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. Effective January 1, 2019, the Company and Todd R. White, the Company’s Chief Financial Officer, entered into the “2019 White Employment Agreement”. The 2019 White Employment Agreement has a term of three years, with minimum annual compensation of $70,000 in year one, $75,000 in year two and $80,000 in year three, and entitles Mr. White to participate in any deferred compensation plan the Company may adopt during the term of his employment with the Company. Effective May 1, 2018, the Company entered into an employment agreement with Michael D. Newman (the “Newman Employment Agreement”) to serve as the Company’s Vice President of Safari Operations. Mr. Newman had been the general manager of Wild Animal – Georgia since February 2011. Pursuant to the Newman Employment Agreement, Mr. Newman received an initial base annual compensation of $95,000 per year, subject to annual review by the Board of Directors. Mr. Newman also received a $5,000 signing bonus. Effective May 1, 2019, Mr. Newman’s annual compensation was set at $98,000. The Newman Employment Agreement has a term of five years and entitles Mr. Newman 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 ($280,000 in aggregate) or (ii) in the event of a change in control of the Company ($365,000 in aggregate). Effective July 1, 2017, the Company and James Meikle, then the Company’s President and Chief Operating Officer, entered into the “2017 Meikle Employment Agreement”. The 2017 Meikle Employment Agreement had a term of two years, with an initial base annual compensation in the amount of $135,000 per year. On November 28, 2018, Mr. Meikle passed away. Pursuant to the death benefit terms of the 2017 Meikle Employment Agreement, during the three month period ended December 30, 2019, the Company recorded a provision of approximately $88,000, which was distributed to his estate on January 15, 2020.

Note 7 - Income Taxes

Note 7 - Income Taxes	6 Months Ended
	Mar. 29, 2020
Notes
Note 7 - Income Taxes	NOTE 7. INCOME TAXES For the six month period ended March 29, 2020, the Company reported a pre-tax loss of $356,203. For the fiscal year ending September 27, 2020, the Company expects to generate pre-tax income and to record a tax provision at a blended effective federal and state income tax rate of approximately 26.0%. The Company recorded a net income tax benefit of $76,900 for the six month period ended March 29, 2020, comprised of a federal benefit of $74,200 and a State of Georgia benefit of $2,700. The Company’s net income tax provision for the six month period ended March 31, 2019 was a tax expense of $2,700, comprised of a federal benefit of $13,100 and a State of Georgia expense of $15,800.

NOTE 8. COMMITMENTS AND CONTING

NOTE 8. COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 29, 2020
Notes
NOTE 8. COMMITMENTS AND CONTINGENCIES	NOTE 8. COMMITMENTS AND CONTINGENCIES On May 21, 2019, the Company’s Missouri Park was struck by a tornado and sustained property damage, primarily to the “walk about”, the more traditional zoo-like section of the park, as well as to several auxiliary buildings. The park was closed at the time of this event and no employees were injured. While a few animals sustained non-life threatening injuries, no animals were killed or escaped. As a result of the tornado damage, through September 29, 2019, the Company had written-off $56,339 related to the net book value of property destroyed and damaged, and incurred $24,105 of cleanup and repair expenses. Through September 29, 2019, the Company had capitalized $66,376 of expenditures related to improvements associated with the tornado damage. The Company capitalized an additional $82,585 of improvements associated with the tornado damage during the six months ended March 29, 2020. On April 15, 2020, the Company received $24,373 of insurance proceeds, partially offsetting the costs and expenses incurred in the recovery from the tornado damage. A receivable was recorded for these insurance proceeds as of March 29, 2020. On August 14, 2019, Marlton Wayne LP (“Marlton”) filed a Complaint in the Eighth Judicial District Court, Clark County, Nevada (case no. A-19-800214-8), seeking ten categories of documents from the Company. This Complaint followed a letter from Marlton sent on July 22, 2019, demanding an inspection of certain books and records of the Company. On March 13, 2020, the Company and Marlton entered into an agreement to dismiss the case without prejudice, with each party reserving their respective rights as related to attorney fees. 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 9. BUSINESS SEGMENTS

NOTE 9. BUSINESS SEGMENTS	6 Months Ended
	Mar. 29, 2020
Notes
NOTE 9. BUSINESS SEGMENTS	NOTE 9. BUSINESS SEGMENTS The Company manages its operations on an individual location basis. Discrete financial information is maintained for each Park and provided to 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 three months ended For the six months ended March 29, 2020 March 31, 2019 March 29, 2020 March 31, 2019 Total net sales: Georgia $ 631,622 $ 891,585 $ 1,530,058 $ 1,819,322 Missouri 111,335 112,437 208,384 201,399 Consolidated $ 742,957 $ 1,004,022 $ 1,738,442 $ 2,020,721 Income (loss) before income taxes: Georgia $ 78,849 $ 329,634 $ 411,622 $ 689,475 Missouri (150,272) (156,300) (313,689) (311,752) Segment total (71,423) 173,334 97,933 377,723 Corporate (165,280) (198,656) (434,728) (401,410) Other income, net 7,542 8,538 15,504 15,518 Interest expense (17,191) (19,223) (34,912) (38,821) Consolidated $ (246,352) $ (36,007) $ (356,203) $ (46,990) As of March 29, 2020 September 29, 2019 Total assets: Georgia $ 7,253,848 $ 7,910,710 Missouri 2,583,797 2,690,572 Corporate 461,704 162,054 Consolidated $ 10,299,349 $ 10,763,336

NOTE 10. SUBSEQUENT EVENTS

NOTE 10. SUBSEQUENT EVENTS	6 Months Ended
	Mar. 29, 2020
Notes
NOTE 10. SUBSEQUENT EVENTS	NOTE 10. SUBSEQUENT EVENTS COVID-19 Impact on Operations and Attendance Based Revenues The rapid acceleration of the COVID-19 pandemic in the United States occurred at the beginning of the Company’s annual high season. The Company began to see a significant reduction in paid attendance at its Georgia and Missouri Parks beginning the week of March 9, 2020. Effective April 3, 2020, both Parks were closed as a result of shelter-in-place mandates in Georgia and Missouri. In compliance with respective state issued guidelines, the Company’s Georgia Park reopened on May 1, 2020 and its Missouri Park reopened on May 4, 2020. From March 9, 2020 through May 3, 2020, the Company’s Park attendance revenues declined by approximately $1,140,000 compared to the comparable period in 2019, which is directly attributable to the impacts of the COVID-19 pandemic. Aggieland Acquisition On April 27, 2020, the Company, through a newly formed subsidiary, Aggieland-Parks, Inc., a Texas corporation, acquired substantially all the assets of Aggieland Safari, LLC (the “Aggieland Assets”), primarily consisting of the Aggieland Safari Adventure Zoo and Safari Park (“Aggieland Safari”), including real property, animal inventory and mineral rights. Aggieland Safari is situated on 250 acres of a 450-acre property, located in Bryan, Texas, approximately 25 miles northeast of College Station and 120 miles northwest of downtown Houston. The total purchase price for the Aggieland Assets was $7,125,000. The transaction was financed with a loan (the “2020 Term Loan”) from First Financial Bank, N.A. (“First Financial”), a seller note for $750,000 (the “Aggieland Seller Note”) and cash totaling $1,375,000. The 2020 Term Loan is evidenced by a promissory note in the original principal amount of $5,000,000 from First Financial (the “2020 Bank Note”), is secured by substantially all of the Aggieland Assets, as well as guarantees from the Company and its subsidiaries. The 2020 Bank Note bears interest at a rate of 5.0% per annum, has a maturity date of April 27, 2031, with interest only payable monthly through April 2021. The Aggieland Seller Note represents a deferred payment of the purchase price, bears no interest, has a maturity date of June 30, 2021 and is secured by a second priority subordinated lien and security interest in the acquired mineral rights and the animal inventory. Aggieland Safari’s operations were suspended for the majority of April 2020 due to a shelter-in-place mandate in Texas. In compliance with state issued guidelines, the drive-through portion of Aggieland Safari was reopened on May 1, 2020. The Company anticipates the reopening of the walk-through section of Aggieland Safari in mid to late May 2020. Paycheck Protection Program Loans As a result of the significant negative economic impacts and uncertainties caused by the COVID-19 pandemic, Wild Animal – Georgia and Wild Animal – Missouri each applied for Paycheck Protection Program (“PPP”) loans. On April 15, 2020, the Company received two unsecured PPP loans totaling $188,087. The PPP was established under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law on March 27, 2020, and is administered by the U.S. Small Business Administration (the “SBA”). The term of the PPP loans is two years, with an interest rate of 1.0% per annum, with all payments deferred for the first six months of the term of the loans. After the initial six-month deferral period, monthly principal and interest payments will be due until maturity for any portion of the PPP loans not forgiven. Under the terms of the CARES Act, some or all of the PPP loan proceeds are eligible to be forgiven. The amount of the loans eligible to be forgiven are based on the use of the proceeds for payroll costs, mortgage interest, rent or utility costs, and the maintenance of employee and compensation levels, subject to limitations and ongoing rulemaking by the SBA. While not assured, the Company anticipates a substantial portion of its PPP loan proceeds will be used for costs that are eligible for forgiveness, based on the current SBA guidelines. The Company has analyzed its operations subsequent to March 29, 2020 to the date these financial statements were issued and has determined that material subsequent events have been disclosed in these unaudited consolidated financial statements.

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies: Basis of Presentation (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Basis of Presentation	Basis of Presentation:

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies: Principles of Consolidation (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Principles of Consolidation	Principles of Consolidation:

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies: Accounting Method (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Accounting Method	Accounting Method:

Note 2 - Significant Accounti_5

Note 2 - Significant Accounting Policies: Estimates and Assumptions (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Estimates and Assumptions	Estimates and Assumptions:

Note 2 - Significant Accounti_6

Note 2 - Significant Accounting Policies: Fiscal Year End (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Fiscal Year End	Fiscal Year End:

Note 2 - Significant Accounti_7

Note 2 - Significant Accounting Policies: Financial and Concentrations Risk (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Financial and Concentrations Risk	Financial and Concentrations Risk:

Note 2 - Significant Accounti_8

Note 2 - Significant Accounting Policies: Trade Accounts Receivable (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Trade Accounts Receivable	Trade Accounts Receivable:

Note 2 - Significant Accounti_9

Note 2 - Significant Accounting Policies: Inventory (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Inventory	Inventory:

Note 2 - Significant Account_10

Note 2 - Significant Accounting Policies: Property and Equipment (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Property and Equipment	Property and Equipment: March 29, 2020 September 29, 2019 Depreciable Lives Land $ 2,507,180 $ 2,507,180 not applicable Ground improvements 1,216,701 1,142,926 7-25 years Buildings and structures 3,023,568 3,023,569 10-39 years Animal shelters and habitats 1,621,965 1,412,802 10-39 years Park animals 584,584 559,425 5-10 years Equipment - concession and related 184,441 184,441 3-15 years Equipment and vehicles - yard and field 462,147 451,459 3-15 years Vehicles - buses and rental 250,261 219,910 3-5 years Rides and entertainment 208,148 204,778 5-7 years Furniture and fixtures 10,427 10,427 5-10 years Projects in process 61,040 100,616 Property and equipment, cost 10,130,462 9,817,533 Less accumulated depreciation (3,431,728) (3,197,128) Property and equipment, net $ 6,698,734 $ 6,620,405 Depreciation expense on the Company’s property and equipment for the three months and six months ended March 29, 2020 and March 31, 2019 totaled $117,300 and $234,600, respectively, and $114,999 and $229,998, respectively.

Note 2 - Significant Account_11

Note 2 - Significant Accounting Policies: Intangible assets (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Intangible assets	Intangible assets:

Note 2 - Significant Account_12

Note 2 - Significant Accounting Policies: Impairment of Long-Lived Assets (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets:

Note 2 - Significant Account_13

Note 2 - Significant Accounting Policies: Other Current Liabilities (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Other Current Liabilities	Other Current Liabilities: March 29, 2020 September 29, 2019 Deferred revenue $ 135,448 $ 100,704 Accrued property taxes 37,791 59,723 Accrued sales taxes 37,620 31,674 Accrued wages and payroll taxes 30,305 111,150 Other accrued liabilities 85,565 80,909 Other current liabilities $ 326,729 $ 384,160

Note 2 - Significant Account_14

Note 2 - Significant Accounting Policies: Financial Instruments (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Financial Instruments	Financial Instruments:

Note 2 - Significant Account_15

Note 2 - Significant Accounting Policies: Revenue Recognition (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Revenue Recognition	Revenue Recognition: Revenues from Contracts with Customers The Company’s major source of income is from park admissions, retail and concessions sales at its parks. Revenues from park admission fees are generally recognized upon receipt of payment at the time of the customers’ visit to the parks. Park admission fee revenues from advance online ticket purchases are deferred until the customers’ visit to the parks. Revenue from retail and concessions sales is generally recognized upon the concurrent receipt of payment and delivery of goods or services to the customer. The Company periodically sells surplus animals created from the natural breeding process that occurs within the parks. All animal sales are reported as a separate revenue line item. Sales taxes billed and collected are not included in revenue. Deferred revenues from advance online admission tickets were $135,448 and $100,704 as of March 29, 2020 and September 29, 2019, respectively.

Note 2 - Significant Account_16

Note 2 - Significant Accounting Policies: Advertising and Market Development (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Advertising and Market Development	Advertising and Market Development:

Note 2 - Significant Account_17

Note 2 - Significant Accounting Policies: Stock Based Compensation (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Stock Based Compensation	Stock Based Compensation:

Note 2 - Significant Account_18

Note 2 - Significant Accounting Policies: Income Taxes (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Income Taxes	Income Taxes:

Note 2 - Significant Account_19

Note 2 - Significant Accounting Policies: Basic and Diluted Net Income (Loss) Per Share (Policies)	6 Months Ended
	Mar. 29, 2020
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 Account_20

Note 2 - Significant Accounting Policies: Dividend Policy (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Dividend Policy	Dividend Policy:

Note 2 - Significant Account_21

Note 2 - Significant Accounting Policies: Recent Accounting Pronouncements (Policies)	6 Months Ended
	Mar. 29, 2020
Policies
Recent Accounting Pronouncements	Recent Accounting Pronouncements: Income Taxes (Topic 740) Simplifying the Accounting for Income Taxes (“Update 2019-12”) 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.

Note 2 - Significant Account_22

Note 2 - Significant Accounting Policies: Property and Equipment: Property, Plant and Equipment (Tables)	6 Months Ended
	Mar. 29, 2020
Tables/Schedules
Property, Plant and Equipment	March 29, 2020 September 29, 2019 Depreciable Lives Land $ 2,507,180 $ 2,507,180 not applicable Ground improvements 1,216,701 1,142,926 7-25 years Buildings and structures 3,023,568 3,023,569 10-39 years Animal shelters and habitats 1,621,965 1,412,802 10-39 years Park animals 584,584 559,425 5-10 years Equipment - concession and related 184,441 184,441 3-15 years Equipment and vehicles - yard and field 462,147 451,459 3-15 years Vehicles - buses and rental 250,261 219,910 3-5 years Rides and entertainment 208,148 204,778 5-7 years Furniture and fixtures 10,427 10,427 5-10 years Projects in process 61,040 100,616 Property and equipment, cost 10,130,462 9,817,533 Less accumulated depreciation (3,431,728) (3,197,128) Property and equipment, net $ 6,698,734 $ 6,620,405

Note 2 - Significant Account_23

Note 2 - Significant Accounting Policies: Other Current Liabilities: Other Current Liabilities (Tables)	6 Months Ended
	Mar. 29, 2020
Tables/Schedules
Other Current Liabilities	March 29, 2020 September 29, 2019 Deferred revenue $ 135,448 $ 100,704 Accrued property taxes 37,791 59,723 Accrued sales taxes 37,620 31,674 Accrued wages and payroll taxes 30,305 111,150 Other accrued liabilities 85,565 80,909 Other current liabilities $ 326,729 $ 384,160

NOTE 3. LONG-TERM DEBT_ Schedul

NOTE 3. LONG-TERM DEBT: Schedule of Debt (Tables)	6 Months Ended
	Mar. 29, 2020
Tables/Schedules
Schedule of Debt	As of March 29, 2020 September 29, 2019 Term Loan principal outstanding $ 1,268,821 $ 1,371,248 Less: unamortized debt closing costs (11,760) (12,880) Gross long-term debt 1,257,061 1,358,368 Less current portion of long-term debt, net of unamortized debt closing costs (209,673) (204,355) Long-term debt $ 1,047,388 $ 1,154,013

NOTE 3. LONG-TERM DEBT_ Sched_2

NOTE 3. LONG-TERM DEBT: Schedule of Maturities of Long-term Debt (Tables)	6 Months Ended
	Mar. 29, 2020
Tables/Schedules
Schedule of Maturities of Long-term Debt	2020 $ 104,369 2021 217,446 2022 228,856 2023 240,864 2024 253,503 thereafter 223,783 Total $ 1,268,821

NOTE 9. BUSINESS SEGMENTS_ Sche

NOTE 9. BUSINESS SEGMENTS: Schedule of Revenue by Reporting Segments (Tables)	6 Months Ended
	Mar. 29, 2020
Tables/Schedules
Schedule of Revenue by Reporting Segments	For the three months ended For the six months ended March 29, 2020 March 31, 2019 March 29, 2020 March 31, 2019 Total net sales: Georgia $ 631,622 $ 891,585 $ 1,530,058 $ 1,819,322 Missouri 111,335 112,437 208,384 201,399 Consolidated $ 742,957 $ 1,004,022 $ 1,738,442 $ 2,020,721 Income (loss) before income taxes: Georgia $ 78,849 $ 329,634 $ 411,622 $ 689,475 Missouri (150,272) (156,300) (313,689) (311,752) Segment total (71,423) 173,334 97,933 377,723 Corporate (165,280) (198,656) (434,728) (401,410) Other income, net 7,542 8,538 15,504 15,518 Interest expense (17,191) (19,223) (34,912) (38,821) Consolidated $ (246,352) $ (36,007) $ (356,203) $ (46,990)

NOTE 9. BUSINESS SEGMENTS_ Sc_2

NOTE 9. BUSINESS SEGMENTS: Schedule of Assets by Reporting Segment (Tables)	6 Months Ended
	Mar. 29, 2020
Tables/Schedules
Schedule of Assets by Reporting Segment	As of March 29, 2020 September 29, 2019 Total assets: Georgia $ 7,253,848 $ 7,910,710 Missouri 2,583,797 2,690,572 Corporate 461,704 162,054 Consolidated $ 10,299,349 $ 10,763,336

Note 1 - Organization (Details)

Note 1 - Organization (Details)	6 Months Ended
	Mar. 29, 2020
Details
Entity Incorporation, Date of Incorporation	Jul. 30, 1954
Entity Information, Former Legal or Registered Name	Painted Desert Uranium & Oil Co., Inc.
Entity Incorporation, State or Country Code	NV

Note 2 - Significant Account_24

Note 2 - Significant Accounting Policies: Property and Equipment: Property, Plant and Equipment (Details) - USD ($)	Mar. 29, 2020	Sep. 29, 2019
Land
Property, Plant and Equipment, Gross	$ 2,507,180	$ 2,507,180
Ground Improvements
Property, Plant and Equipment, Gross	1,216,701	1,142,926
Buildings and structures
Property, Plant and Equipment, Gross	3,023,568	3,023,569
Animal shelters and habitats
Property, Plant and Equipment, Gross	1,621,965	1,412,802
Park animals
Property, Plant and Equipment, Gross	584,584	559,425
Equipment - concession and related
Property, Plant and Equipment, Gross	184,441	184,441
Equipment and vehicles - yard and field
Property, Plant and Equipment, Gross	462,147	451,459
Vehicles - buses and rental
Property, Plant and Equipment, Gross	250,261	219,910
Rides and entertainment
Property, Plant and Equipment, Gross	208,148	204,778
Furniture and Fixtures
Property, Plant and Equipment, Gross	10,427	10,427
Projects in process
Property, Plant and Equipment, Gross	61,040	100,616
Property, Plant and Equipment, Gross	10,130,462	9,817,533
Less accumulated depreciation	(3,431,728)	(3,197,128)
Property and equipment, net	$ 6,698,734	$ 6,620,405

Note 2 - Significant Account_25

Note 2 - Significant Accounting Policies: Other Current Liabilities: Other Current Liabilities (Details) - USD ($)	Mar. 29, 2020	Sep. 29, 2019
Details
Deferred revenue	$ 135,448	$ 100,704
Accrued property taxes	37,791	59,723
Accrued sales taxes	37,620	31,674
Accrued wages and payroll taxes	30,305	111,150
Other accrued liabilities	85,565	80,909
Other current liabilities	$ 326,729	$ 384,160

NOTE 3. LONG-TERM DEBT (Details

NOTE 3. LONG-TERM DEBT (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Mar. 29, 2020	Mar. 29, 2020	Mar. 31, 2019
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 17,191	$ 19,223	$ 34,912		$ 38,821
Interest expense - loan fee amortization	560	$ 560	1,120		$ 1,120
2018 Term Loan
Debt Instrument, Issuance Date				Jul. 11, 2018
Debt Instrument, Face Amount	$ 1,600,000		$ 1,600,000	$ 1,600,000
Debt Instrument, Description				2018 Term Loan
Debt Instrument, Interest Rate, Stated Percentage	5.00%		5.00%	5.00%
Debt Instrument, Maturity Date				Jun. 11, 2021
Debt Instrument, Collateral				secured by a security deed on the assets of Wild Animal – Georgia
Debt Instrument, Fee Amount	$ 15,680		$ 15,680	$ 15,680

NOTE 3. LONG-TERM DEBT_ Sched_3

NOTE 3. LONG-TERM DEBT: Schedule of Debt (Details) - USD ($)	Mar. 29, 2020	Sep. 29, 2019
Details
Term Loan principal outstanding	$ 1,268,821	$ 1,371,248
Less: unamortized debt closing costs	(11,760)	(12,880)
Gross long-term debt	1,257,061	1,358,368
Less current portion of long-term debt, net of unamortized debt closing costs	(209,673)	(204,355)
Long-term debt	$ 1,047,388	$ 1,154,013

NOTE 3. LONG-TERM DEBT_ Sched_4

NOTE 3. LONG-TERM DEBT: Schedule of Maturities of Long-term Debt (Details)	Mar. 29, 2020USD ($)
Details
Long-Term Debt, Maturity, Year One	$ 104,369
Long-Term Debt, Maturity, Year Two	217,446
Long-Term Debt, Maturity, Year Three	228,856
Long-Term Debt, Maturity, Year Four	240,864
Long-Term Debt, Maturity, Year Five	253,503
Long-Term Debt, Maturity, after Year Five	223,783
Long-term Debt	$ 1,268,821

NOTE 4. LINES OF CREDIT (Detail

NOTE 4. LINES OF CREDIT (Details) - 2018 Refinancing with Synovus	6 Months Ended
	Mar. 29, 2020USD ($)
Debt Instrument, Issuance Date	Jul. 11, 2018
Line of Credit Facility, Description	2018 Refinancing with Synovus
Line of Credit Facility, Maximum Borrowing Capacity	$ 350,000
Line of Credit Facility, Interest Rate Description	interest at a rate of 4.75% and interest only payments are due monthly
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Debt Instrument, Maturity Date	Jul. 11, 2021

Note 6. - Significant Transac_2

Note 6. - Significant Transactions With Related Parties (Details)	6 Months Ended
	Mar. 29, 2020
Van Voorhis Employment Agreement
Related Party Transaction, Date	Jun. 1, 2018
Related Party Transaction, Description of Transaction	Company and Dale Van Voorhis, the Company’s Chairman and Chief Executive Officer, entered into the “2018 Van Voorhis Employment Agreement”
White Employment Agreement
Related Party Transaction, Date	Jan. 1, 2019
Related Party Transaction, Description of Transaction	Company’s Chief Financial Officer, entered into the “2019 White Employment Agreement”
Newman Employment Agreement
Related Party Transaction, Date	May 1, 2018
Related Party Transaction, Description of Transaction	Company entered into an employment agreement with Michael D. Newman
Meikle Employment Agreement
Related Party Transaction, Date	Jul. 1, 2017

Note 7 - Income Taxes (Details)

Note 7 - Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Mar. 29, 2020	Mar. 31, 2019
Details
Loss before income taxes	$ (246,352)	$ (36,007)	$ (356,203)	$ (46,990)
Net Income Tax (Benefit)			(76,900)	(2,700)
Federal Income Tax Expense (Benefit)			(74,200)	(13,100)
State of Georgia Income Tax (Benefit) Expense			$ (2,700)	$ 15,800

NOTE 9. BUSINESS SEGMENTS_ Sc_3

NOTE 9. BUSINESS SEGMENTS: Schedule of Revenue by Reporting Segments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Mar. 29, 2020	Mar. 31, 2019
Georgia
Total net sales:	$ 631,622	$ 891,585	$ 1,530,058	$ 1,819,322
Income (loss) before income taxes:	78,849	329,634	411,622	689,475
Missouri
Total net sales:	111,335	112,437	208,384	201,399
Income (loss) before income taxes:	(150,272)	(156,300)	(313,689)	(311,752)
Total net sales:	742,957	1,004,022	1,738,442	2,020,721
Income (loss) before income taxes:	(246,352)	(36,007)	(356,203)	(46,990)
Segment total
Income (loss) before income taxes:	(71,423)	173,334	97,933	377,723
Corporate
Income (loss) before income taxes:	(165,280)	(198,656)	(434,728)	(401,410)
Other income (expense), net
Income (loss) before income taxes:	7,542	8,538	15,504	15,518
Interest expense
Income (loss) before income taxes:	$ (17,191)	$ (19,223)	$ (34,912)	$ (38,821)

NOTE 9. BUSINESS SEGMENTS_ Sc_4

NOTE 9. BUSINESS SEGMENTS: Schedule of Assets by Reporting Segment (Details) - USD ($)	Mar. 29, 2020	Sep. 29, 2019
Georgia
Total assets:	$ 7,253,848	$ 7,910,710
Missouri
Total assets:	2,583,797	2,690,572
Corporate
Total assets:	461,704	162,054
Total assets:	$ 10,299,349	$ 10,763,336

NOTE 10. SUBSEQUENT EVENTS (Det

NOTE 10. SUBSEQUENT EVENTS (Details)	6 Months Ended
	Mar. 29, 2020USD ($)
Event #1
Subsequent Event, Date	Apr. 3, 2020
Subsequent Event, Description	both Parks were closed as a result of shelter-in-place mandates in Georgia and Missouri
Event #2
Subsequent Event, Date	Apr. 27, 2020
Subsequent Event, Description	Company, through a newly formed subsidiary, Aggieland-Parks, Inc., a Texas corporation, acquired substantially all the assets of Aggieland Safari, LLC
Event #3
Subsequent Event, Date	Apr. 15, 2020
Subsequent Event, Description	Company received two unsecured PPP loans totaling $188,087
Debt Instrument, Description	two unsecured PPP loans
Debt Instrument, Collateral	unsecured
Debt Instrument, Face Amount	$ 188,087
Debt Instrument, Interest Rate, Stated Percentage	1.00%