SAKL Acquires Springbok Holdings, LLC & Its Subsidiaries:
Color Me Rad, LLC, The Dirty Dash, & Springbok STC, LLC
SALT LAKE CITY, UT -- August 14, 2015 -- InvestorsHub
NewsWire -- Sack Lunch Productions, Inc.
(OTC
PINK: SAKL), a publicly traded entertainment company with
operations in event management and film, announced that it has
acquired a 100% interest in Springbok Holdings LLC (Springbok).
Springbok, through its subsidiaries, controls and owns the Color Me
Rad and The Dirty Dash events. Springbok also holds the
rights to operate Slide the City events in up to 60
cities, based upon its franchise agreement with Slide the City
Franchise, LLC.
Springbok reported net income of approximately $1,408,598 and
gross revenues of $12,033,400 for the year ended December 31, 2014.
Springbok in its most current financial statements through June 30,
2015, is reporting $6,985,171 million in gross revenues with net
income of approximately $1,457,627. Springbok is reporting gross
assets of $2,920,755. The assets consist primarily of merchandise
and equipment. Estimated liabilities at the time of closing are
represented to be no more than $2,000,000. All financial statements
provided by Springbok are unaudited and will be subject to
adjustments based upon the requirements of GAAP.
The Acquisition of Springbok has essentially doubled the scope
and size of SAKL's operations. The acquisition was closed on August
7, 2015. Springbok was purchased based upon SAKL's intent to infuse
in excess of $1,000,000 in cash to satisfy certain obligations of
Springbok for merchandise and other obligations, coupled with a
possible payment of no more than $100,000 to the prior owners which
is based on future profits and would be due at the close of
Springboks fiscal year ending December 31,2017. Management is
currently working to fully integrate the operations of Springbok
with those of SAKL.
CEO of SAKL, Richard Surber, explained
the acquisition, "SAKL was able to position itself in such a
fashion that we were able to acquire these well known and
successfully branded events for what I believe will prove to be a
bargain. The bottom line is that Springbok appears to have fallen
into a cash flow problem that they could not solve without our
help. We will infuse up to $250,000 this week to help relieve some
of Springbok's short term cash flow needs. Over the next 30 to 60
days we expect to raise up to an additional $1,800,000 in mezzanine
capital. The capital will satisfy the cash needs of Springbok, set
the stage for a stellar 2016 event season for all of our brands,
and will allow SAKL at a minimum to regain fully reporting status
with the Securities and Exchange Commission."
Mr. Surber continued, "I also anticipate the launch of our
co-branding efforts to occur within the next month. As an example,
Sack Lunch Productions' events collectively have an email database
of participants that exceeds three million. Moving forward, each
email that goes out to our participants will have SAKL's logo and
trading symbol as a footer. The purpose of the branding is to
inform the public that SAKL is the parent company to Slide the
City, The Lantern Fest, Color Me Rad, and The Dirty Dash. The email
co-branding is one of many steps that will take place over the next
12 months to get SAKL the exposure needed as a publicly traded
company."
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 wholly owned subsidiary WG
Productions Company holds a majority interest in Slide the City,
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 in penny stocks