SOURCE: Sack Lunch Productions, Inc.

Sack Lunch Productions, Inc.

July 22, 2015 08:30 ET

SAKL Files First Quarter Financial Results

SALT LAKE CITY, UT--(Marketwired - Jul 22, 2015) - Sack Lunch Productions, Inc. (OTC PINK: SAKL), has filed with OTCMarkets its quarterly report for the three months ended March 31, 2015. SAKL is reporting revenue of $905,908 for the first quarter of 2015, a decrease of $103,758 or 10% compared to 2014. A net loss of $303,949 was reported compared to net income of $901,282 for same period in 2014. 

Richard Surber, CEO of SAKL, commented, "At first blush, one might think that the first quarter results are not that positive. However, when you take into account that we took in an additional $1,383,754 in cash as deferred revenues compared to $688,429 in the same period in 2014, the picture significantly improves. In fact, revenues in the first quarter of 2015 will be relatively small compared to what we are expecting in the third quarter of 2015."

Mr. Surber continued, "During the first quarter of 2014, we recorded a onetime non-cash gain of $1,001,000 from the sale of securities that was not present in the first quarter of 2015. We also saw total operating costs increase in 2015 as a result of preparing for the upcoming event season during which we expect to see significant returns starting with the second quarter 2015. The bottom line is that we had a great first quarter that paved the way for what should be record results for the FYE 2015."

Mr. Surber also reported, "Within the last week, SAKL retained an outside accounting firm to assist with creating systems that will lay the foundation for better financial reporting on a timely basis. The decision was made to hire an outside firm so management has the best information to make the best decisions possible on a timely basis. Hiring an outside firm at this stage in our development was a turnkey solution to our immediate needs, as well as providing the bandwidth to accommodate our accounting needs as we scale up our operations. I expect the volume of accounting work to increase two fold in 2015."

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, 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.