Sack Lunch Productions, Inc. (OTC PINK: SAKL) filed its quarterly report with OTC Markets for the three and nine months ended September 30, 2015.
Revenue increased 445% to $6.0 million in the third quarter of 2015, up from $1.1 million in the year-ago period. Net income attributable to stockholders increased to $717,982 in the third quarter of 2015, up from a net loss of $348,981 in the year-ago period.
Deferred revenues were $905,554 at the end of the third quarter, compared to $1.8 million for the quarter ended June 30, 2015. The Company recognized nearly all of its prior period deferred revenues and recorded $390,117 for tickets pre-sold for The Lantern Fest events held after September 30, 2015.
Additional highlights contained in the report include:
Richard Surber, CEO of Sack Lunch Productions, stated, “I am elated with our results. Record profits, record revenues, record number of events held, closing upon a fantastic acquisition, obtaining a $5 million credit line, and restructuring our equity are all major milestones. With these results, we’re currently trading for less than two-times earnings and at a small fraction of our trailing 12-month sales.”
“We’re now setting the stage for 2016, which will include an estimated 156 events, over a 100% over the number of events we held in 2015,” continued Surber. “We also intend to file a registration statement with the SEC in 2016 and create and launch new events, all of which should culminate into a record breaking year.”
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 subsidiaries include: Color Me Rad, LLC, Slide the City, LLC, The Dirty Dash, 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.