Huge Acquisition NEWS for Sack Lunch Productions I
Post# of 40253
Posted On: 09/15/2015 11:55:56 AM
Huge Acquisition NEWS for Sack Lunch Productions Inc. ($SAKL): IMO $SAKL should be trading much higher than it is. 08/14/15 Sack Lunch Productions, Inc. (OTCPK:SAKL) acquired Springbok Holdings Inc. from Martin Malfatto Squared Inc. and Pharout Events, Inc. and Lunch by Lunchwest, Inc. for $0.1 million on August 7, 2015.
Springbok was purchased based upon Sack Lunch Productions' intent to infuse in excess of $1 million in cash to satisfy certain obligations of Springbok for merchandise and other obligations, coupled with a possible payment of no more than $0.1 million to Martin Malfatto Squared Inc. and Pharout Events, Inc. and Lunch by Lunchwest, Inc. which is based on future profits and would be due at the close of Springboks fiscal year ending December 31, 2017. Exculding Martin Malfatto, the owners of Springbok shall be entitled to receive 20% of net operating profits for only Color Me Rad LLC, Spring Franchising, LLC, SPringbok Fun runs, LLC and the Dirty Dash LLC for only the fiscal year ending December 31, 2017. Martin Malfatto Squared Inc. shall receive one half of the amount to be paid. Springbok reported net income of approximately $1.4 million and gross revenues of $12 million for the year ended December 31, 2014. The deal is subject to certain conditions including oblgations to be less than $2 million through Janaury 2016.
http://www.bloomberg.com/research/stocks/tran...icker=SAKL
Springbok was purchased based upon Sack Lunch Productions' intent to infuse in excess of $1 million in cash to satisfy certain obligations of Springbok for merchandise and other obligations, coupled with a possible payment of no more than $0.1 million to Martin Malfatto Squared Inc. and Pharout Events, Inc. and Lunch by Lunchwest, Inc. which is based on future profits and would be due at the close of Springboks fiscal year ending December 31, 2017. Exculding Martin Malfatto, the owners of Springbok shall be entitled to receive 20% of net operating profits for only Color Me Rad LLC, Spring Franchising, LLC, SPringbok Fun runs, LLC and the Dirty Dash LLC for only the fiscal year ending December 31, 2017. Martin Malfatto Squared Inc. shall receive one half of the amount to be paid. Springbok reported net income of approximately $1.4 million and gross revenues of $12 million for the year ended December 31, 2014. The deal is subject to certain conditions including oblgations to be less than $2 million through Janaury 2016.
http://www.bloomberg.com/research/stocks/tran...icker=SAKL
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