Parks! America Inc

Good afternoon, everyone. Welcome to Parks America's fiscal year-end 2024 earnings call. My name is Ralph Molina, and I will be your operator for today's call. Today's call is being webcast and recorded. Before we begin, I'd like to remind everyone that our comments today will contain forward-looking statements within the meaning of the federal securities laws. These statements may involve risks and uncertainties that could cause actual results to differ from those forward-looking statements. For a more detailed discussion of those risks, you may refer to the company's filings with the SEC. In addition, we may reference non-GAAP financial measures and other financial metrics on the call. More information regarding our forward-looking statements and reconciliations of non-GAAP measures to the most comparable GAAP measure is included in our Form 10-K. Last Friday, we followed our quarterly earnings release and 10K with the SEC. In our quarterly earnings release, you will find summary information related to fiscal year 2024 segment financial results. We encourage all of our shareholders to read our complete 10K. In a few moments, I will turn the call over to our president, Jeff Gannon, to answer any questions. All participants on today's call are invited to ask a question. For those who would like to ask a question, I will take a few moments to provide instructions on how to do so. Today, there are two ways to ask a question. First, you can ask a question if you're joined using the Zoom platform. Second, you can submit a question via email. For those joined using the Zoom platform, you can use the raise hand feature at the bottom of your screen to indicate that you have a question. When you're called on to ask a question, your line will be unmuted. When you're finished asking your questions, please state that you have no further questions. Your line will be muted afterwards. For those dialed into the teleconference line, you can email your question to ralph at parksamerica.com. For today's call, we will dedicate the first 15 minutes for live questions to individuals using the Zoom platform. After that, we will respond to questions submitted via email. We will take as many questions as possible within a 30-minute window. That concludes my instructions. I will now turn the call over to Jeff Gannon for opening remarks.

Okay, so I just wanted to give updates on anything that I mentioned in the previous earnings call. I mentioned that I was acting as the GM of Agulian, which doesn't have a permanent GM there. That continues to be the case. I think on January 1st, we will have sort of a relaunch of Some of the ticket levels, pricing things, a lot of the marketing stuff will have already been changed over there. And then that would be a time where I hope to look for someone more to do operations in those things. So a lot of that work has been done there, but still no permanent GM there that isn't me acting there. Ad agency, we hired a new ad agency. However, I still think that you'll see the pattern of lower advertising than is normal through at least probably till or beyond February of next year because we're a seasonal business and you won't really see a pickup till around spring break or something March. So February might be the first month that looks like it's a normal sort of level. So I think you saw at the end of this year covered in the 10K, advertising was less than normal. It continues to be less than normal. This is because of a transition and it doesn't indicate that that's what we intend to have advertising be in the future. Then just a technical point, there's two subsequent events. One was a pretty major one that's covered in the 10K, and that is the refinancing of a loan. Just for that technical point, make sure that you know that some parts of the 10K, like the debt maturity schedule, are reflecting things after the date shown on the balance sheet. That's how it's done with the SEC. So just be aware of that. Like if we need to get any technicalities of that, that event happened right after the end of the quarter. And so... It's going to have some slight differences in notes that we have for that versus what you see in the balance sheet. And that could be confusing. That's the only thing I think is not intuitive about the 10K. And the last one is just I want to make sure that everyone after the earnings call feels free to email Ralph and give suggestions about how to do this in the future. We did this where we put out the 10K on a Friday. After the close and then we had the earnings call on a Monday after the close We felt people too hard for people, you know all around the country to do a early morning one Before the open and we thought giving you a few days to have to look over the 10k was a good idea but if you have different opinions on that a great thing to do would be to email Ralph and give suggestions about how better we could do these earnings releases and that's it for my opening remarks and

At this time, I would like to invite all participants to indicate if you have a question. Please do so by using the raise hand feature at the bottom of your screen. Okay, Jeff, at this time, there are no live questions. We have a few written questions that we will proceed to address and respond to. If anyone has a question and is using the Zoom platform, just raise your hand and we will get back to you. First question. Parks America recently refinanced Aggieland's debt. Since you talked about Aggieland being in review, can you tell us what the trade value of Aggieland was for the purpose of obtaining the new loan?