SAKL Reports Revenues of $2.4M and $1.49M for Six and Three Months Ended June 30
Sep 21, 2015
OTC Disclosure News Service
– SAKL Reports Revenues of $2.4M and $1.49M for Six and Three Months Ended June 30
SALT LAKE CITY, UT–(Marketwired – Sep 21, 2015) – 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 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 GA 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: https://youtu.be/ZGgQxFrsNNw
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.
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Sack Lunch Productions, Inc.
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