SALT LAKE CITY, UT--(Marketwired - Aug 4, 2016) - Sack Lunch Productions, Inc. (
Richard Surber, CEO of SAKL, commented, "During the month of July we held 39 events directly or through franchisees including: 31 Slide the City®, 1 Lantern Fest®, 3 Dirty Dash® and 4 Color Me Rad®. Shareholders can expect to see a spike in realized revenues for Q3 based upon the number of events being held including a spike in franchise fees collected."
Surber, continued, "Some additional bright spots in this report are a high proportion of corporate ticket sales versus franchisee ticket sales as well as ticket sales for The Lantern Fest trending up. The last 4 days in July The Lantern Fest sold over $100,000 in tickets, the result of opening events for the fall."
Readers should note that ticket sales are not recorded as realized revenues until the event(s) are held. Ticket sales made in advance of the event are booked as deferred revenues, a liability on the balance sheet, until the events are held. Furthermore, franchisee's ticket sales are not booked as SAKL revenues, only the franchise fees paid to SAKL. $89,011 in franchisee fees were collected for the month of July and $50,401 in sponsorship revenues were collected in July. Franchisee fees, sponsorship fees, international ticket sales and franchise fees are not included in the $1.615M system-wide sales number for purposes of this press release.
About Sack Lunch Productions, Inc.:
Sack Lunch Productions, Inc. (
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, including but not limited to adverse weather conditions, equipment failure, state and local health code laws which may impact obtaining permits and other risks associated with judgment calls made by various government officials. Investors should not invest more than they can afford to lose.
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