SAKL Reports Q3 Net Income of $718K on Revenue of $6M

 

SAKL Reports Q3 Net Income of $718K on Revenue of $6M

 

Salt Lake City, UT -- November 30, 2015 -- InvestorsHub NewsWire -- Sack Lunch Productions, Inc. (OTC PINK: SAKL) filed its quarterly report with OTC Markets for the three and nine months ended September 30, 2015.

Revenue increased 445% to $6.0 million in the third quarter of 2015, up from $1.1 million in the year-ago period. Net income attributable to stockholders increased to $717,982 in the third quarter of 2015, up from a net loss of $348,981 in the year-ago period.
Deferred revenues were $905,554 at the end of the third quarter, compared to $1.8 million for the quarter ended June 30, 2015. The Company recognized nearly all of its prior period deferred revenues and recorded $390,117 for tickets pre-sold for The Lantern Fest events held after September 30, 2015.

Additional highlights contained in the report include:

         Net income attributable to stockholders for the nine months ended September 30, 2015 was $755,261;

         Revenue for the nine months ended September 30, 2015 increased 145% to $8.4 million, up from $3.4 million in the            nine months ended September 30, 2014;

         Hosted a record number of events in the third quarter, generating $5.3 million from tickets sales and other event                related fees;

         Retired 331,753 shares of Series C Preferred shares with a stated value of $5.00 per share;

         Closed upon Acquisition of Springbok LLC and its operating subsidiaries Color Me Rad, LLC, The Dirty Dash, LLC               and Springbok STC, LLC;

         Obtained a Secured Line of Credit for up to $5 million, with an initial draw down of $1.8 million; and

         Reduced authorized shares from 25 billion to 990 million.

 

Richard Surber, CEO of Sack Lunch Productions, stated, I am elated with our results. Record profits, record revenues, record number of events held, closing upon a fantastic acquisition, obtaining a $5 million credit line, and restructuring our equity are all major milestones. With these results, were currently trading for less than two-times earnings and at a small fraction of our trailing 12-month sales.

Were now setting the stage for 2016, which will include an estimated 156 events, over a 100% over the number of events we held in 2015, continued Surber. We also intend to file a registration statement with the SEC in 2016 and create and launch new events, all of which should culminate into a record breaking year.

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.

IR CONTACT:
Bruce Haase

RedChip Companies, Inc.

800.733.2447, ext. 131

[e-mail]

 

CONTACT:

Richard Surber, President

Sack Lunch Productions, Inc.

801-575-8073 x 111

[e-mail]