Parks! America Interim Chairman Issues Open Letter to Shareholders - Seite 2

These last several months of corporate upheaval have been unnecessary and entirely avoidable. But FC has wanted upheaval. They thought they could hijack the Company by demanding a Special Shareholder Meeting and replacing the board. Current PRKA management attempted to work with FC within days of FC’s purchase of all of former CEO Dale Van Voorhis’ PRKA shares—more than 16 million of them—on December 14, 2023. That acquisition brought FC’s ownership of PRKA to 38.5%. Andrew Kuhn, another of FC’s principals, had no interest in working together or reaching a compromise so that we could move the Company forward. Unfortunately for FC, their Special Meeting gambit failed. So, FC continues through the proxy process for the upcoming annual meeting of shareholders.

Under previous Chairman and CEO Mr. Van Voorhis, this Company was badly managed:

• A myriad of poor decisions in the name of “saving money” which had harmful consequences such as under-insurance of our Georgia park, which was hit directly by a tornado in late March 2023.
• Poor human resource management decisions which made hiring extremely difficult, undermined staff morale and led to lawsuits, including one that names Mr. Van Voorhis personally, as well as the Company.
• Poor decisions relative to “maintenance capital” (again in the name of saving money) which allowed the Company’s properties to slip into disrepair, while at the same time spending on ill-advised and poorly planned programs such as the “Holiday Lights” event at the Missouri park and the abandoned Giraffe exhibit in Georgia.
  

By their own admission, FC’s nominees to become directors of your Company have never run an operating business or managed a publicly traded company. Their investment “fund” is so small that the SEC requires only minimal disclosure. We have no idea how successful they have been at managing their own business, let alone a completely different operating entity where they have no applicable skill sets to succeed. Further, FC has been a constant supporter of Mr. Van Voorhis. If FC prevails in this matter, Mr. Van Voorhis’ return in a management or consulting role could be possible. The answer to addressing the Company’s issues is not to restore Mr. Van Voorhis or his proxies to positions of authority. The old, unsuccessful management plus an inexperienced board slate is not a good combination to move PRKA forward.