SAKL Reports System-Wide Q1 ‘16 Sales Exceed $5M
April 04 2016 - 8:30AM
InvestorsHub NewsWire
SAKL Reports System-Wide Q1
‘16 Sales Exceed $5M
Salt Lake City, UT -- April 4, 2016 --
InvestorsHub NewsWire – Sack Lunch Productions, Inc. (OTC
PINK: SAKL), reports system-wide sales of $5M. The $5M includes
all corporate and franchised events as well as $780,569 from Green
Endeavors through March 31, 2016. Ticket sales for corporate and
North American franchised events were $2.45M and $1.64M,
respectively. Ticket sales generated by Color Me Rad comprised
$2.25M in sales. Ticket sales for our flagship event Slide the City
are expected to surpass Color Me Rad when its season begins in
earnest in the second quarter.
Investors should note that the vast majority of sales that
occurred in Q1 will be booked as deferred revenues which will be
reflected as a liability on our balance sheet. Once the event is
held, the deferred revenues are then recognized as realized
revenues on our income statement in the quarter or other reporting
period that the event is held. Investors should also note that
sales generated by franchisees are not booked as SAKL revenues.
However, franchise fees are booked as revenues. Franchise fees are
a percentage of the franchisees’ sales which includes ticket and
sponsorship revenues.
Richard Surber, CEO of SAKL commented, “I am very encouraged by
the progress SAKL has made in the first three months of 2016. I
anticipate Q2 sales to ramp up significantly leading up to our most
robust sales in the third quarter. We remain on track to host in
excess of 256 events system-wide in 2016 and expect to generate
more than $18M in revenues for the year.”
Mr. Surber continued, “SAKL anticipates filing its unaudited
2015 financial statements and annual report with OTC Markets by
April 15, 2016. Unfortunately, our audited financial statements for
fiscal years ended 2014 and 2015 have been delayed due in part to
the heavy work load our staff is experiencing. We are diligently
improving systems while simultaneously scaling up our operations in
preparation for our busy season. My revised estimate for filing our
initial registration statement with Securities and Exchange
Commission is June 1, 2016. We will continue to file reports with
OTC Markets until such time as we complete our audited financial
statements. I expect some impressive improvements to our 2015
year-end balance sheet.”
Click this link to see our 30
second commercial that is airing in various markets and across
Facebook!
Please visit our websites to find the next event in your area:
www.slidethecity.com, www.thelanternfest.com, http://www.thedirtydash.com, www.trikeriot.com and www.colormerad.com .
About Sack Lunch Productions, Inc.:
Sack Lunch Productions, Inc. (OTC PINK: SAKL) is an
entertainment company that operates and franchises action oriented
events in the U.S. and internationally. SAKL's events include:
Slide the City (1,000 foot long water slide for families and kids),
Color Me Rad (5k color race), The Dirty Dash (mud and obstacle
run), and The Lantern Fest (nighttime party with lantern lighting
and launch). Learn more about SAKL's operations at www.sacklunchproductions.com, www.slidethecity.com, www.thelanternfest.com, www.thedirtydash.com, www.colormerad.com, www.trikeriot.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. The actual results that SAKL may achieve could
differ materially from any forward-looking statements due to a
number of 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
bruce@redchip.com
Sack Lunch Productions (PK) (USOTC:SAKL)
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