SAKL Reports System-Wide Sales in April of $1.79M
May 10 2016 - 8:00AM
InvestorsHub NewsWire
SAKL Reports System-Wide Sales in April of
$1.79M
Salt Lake City, UT
-- May 10, 2016 -- InvestorsHub NewsWire
-- Sack Lunch Productions,
Inc. (OTC PINK: SAKL), reports total sales of $1,792,566 across
all corporate and franchised events in North America for the month
of April. Ticket sales for corporate and franchised events were
$1,189,222 and $319,736 respectively. The lion’s share of
ticket sales for April was generated by corporately run Color Me
Rad™ events. Our Green Endeavors, Inc. (OTC PINK: GRNE) entities
contributed $283,608 in realized revenues. GRNE’s revenues were up
from last year across all three of its Landis Lifestyle Salons
locations.
Richard Surber, CEO of SAKL,
commented, “While we are extremely pleased with the results
announced today, it’s important to note that ticket sales are not
recorded as realized revenues until we actually hold the event. The
ticket sales are booked as unrealized revenues, a liability on the
balance sheet, until that event is held. Furthermore, franchisee’s
ticket sales are not booked as SAKL revenues, only the franchise
fees paid to SAKL are booked as revenues. As a result of the rules
for revenue recognition, shareholders can expect to see Q1 revenues
that will seem low, while liabilities will be relatively high.
Coming into Q2 recognized revenues will begin reflecting those
ticket sales as we enter our busy season. Finally, Q3 recognized
revenues will probably exceed Q1, Q2 and Q4 combined and we will
show significant improvement to the balance sheet during the period
as revenue from held events will be recognized as those events take
place in the summer months. By year end, shareholders can expect to
see dramatic reductions in liabilities as a result of converting
unrealized revenues to realized revenues because all events will
have been completed and significant payments will have been made
toward trade creditors as well as our secured line of credit.”
Richard Surber, continued, “I am
stoked. If operations continue on the same path, we will have
totally transformed SAKL by year-end. The revenues and sales
numbers for April do not include sponsorship revenues which may
comprise a significant portion of revenues by year end. I expect
that we will be ready to make the next big step up in our
development which means scaling up further, as well as adding
entirely new events like Trike
Riot to our event offerings in 2017. April data confirms that
SAKL will most likely exceed its 2016 forecast of $18M in
revenues. We expect sales to accelerate coming into the
summer months. ”
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), The Lantern Fest™ (nighttime party
with lantern lighting and launch) and Trike Riot. 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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