SOURCE: Sack Lunch Productions, Inc.

Sack Lunch Productions, Inc.

April 04, 2016 08:30 ET

SAKL Reports System-Wide Q1 '16 Sales Exceed $5M

SALT LAKE CITY, UT--(Marketwired - Apr 4, 2016) - 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.

Contact Information

  • IR CONTACT:
    Bruce Haase
    RedChip Companies, Inc.
    800.733.2447, ext. 131
    bruce@redchip.com