SAKL Reports Revenues of $2.4M
and $1.49M
For Six and Three Months ended
June 30
Salt Lake City, UT -- September 21, 2015 -- InvestorsHub
NewsWire -- Sack Lunch Productions, Inc. (OTC
PINK:
SAKL), has filed its quarterly report with OTC
Markets for the three and six months ended June 30, 2015.
SAKL is reporting revenue of $1,492,531 in the
second quarter of 2015, an increase of $178,677 or 13.5% over the
second quarter in 2014. For the six months ended June 30, 2015, we
reported revenue of $2,398,439, an increase of $74,919 or 3.2% over
the same period in 2014. Deferred revenues were reported at
$1,846,197 for the period ending June 30, 2015, compared to
$688,429, an increase of $1,157,768 or a 168% over December 31,
2014.
Additional highlights contained in the report include:
Net income for
the quarter was reported at $106,068 which included $588,824 of
debt forgiveness. For the six months ended June 30, 2015, we
recorded a net loss of $398,814 as a result of an increase in
G&A expenses associated with launching our franchise system and
corporate events which set the stage for our peek event season in
July, August and September.
Working capital
deficit as of June 30, 2015 was reported at $2,891,825. However,
$1,846,197 of our current liabilities are deferred revenues. Nearly
all of the deferred revenues will be fully realized in the third
quarter which will improve our working capital as well as improve
our net worth by nearly $1.8M.
Subsequent
event notes on the August 7, 2015, Acquisition of Springbok
Holdings, LLC and its operating subsidiaries Color Me Rad, LLC, The
Dirty Dash, LLC, and Springbok STC, LLC.
Subsequent
event note discussing the cancellation of 369,072 shares of Series
C Preferred with a face value of $1,845,360 and plans to redeem or
cancel additional Series C Preferred shares.
Richard Surber, CEO of Sack Lunch Productions, Inc.,
stated, "I am thrilled with our June 30, 2015 financial results.
The hard number highlights include a total of $4,244,636 in
revenues and deferred revenues at June 30, 2015. We also wrote off
nearly $700,000 in debts. I anticipate our third quarter results to
eclipse our second quarter results based upon the number of events
we completed in July, August, and September. Our third quarter
results will include revenues from our newly acquired events Color
Me Rad, The Dirty Dash, and Springbok STC (Slide the
City)."
Watch The Dirty Dash Filthiest Way to Get Fit: <iframe
width="560" height="315" src=";
Please visit our websites to find the
next event in your area: www.slidethecity.com, www.thelanternfest.com, www.thedirtydash.com, and
www.colormerad.com.
About Sack Lunch Productions, Inc.:
Sack Lunch Productions, Inc. (OTC PINK: SAKL) is an
entertainment company with operations that include: event
management, film production, and distribution services. SAKL's
subsidiaries include: Color Me Rad, LLC, Slide the City, LLC, The
Dirty Dash, LLC and The Lantern Fest, LLC. SAKL also holds a
majority interest in Green Endeavors, Inc. (OTC PINK: GRNE). Learn
more about SAKL's operations at www.sacklunchproductions.com,
www.slidethecity.com, www.thelanternfest.com, www.thedirtydash.com, www.colormerad.com, and www.green-endeavors.com.
SAKL strongly encourages the public to read the above
information in conjunction with its reports filed at
www.otcmarkets.com. SAKL will require a significant influx of
capital in order to effectively execute upon its various
operational plans. The actual results that SAKL may achieve could
differ materially from any forward-looking statements due to such
risks and uncertainties. Investors should not invest more than they
can afford to lose.
