SAKL April revenues of $1.79M > http://seekinga
Post# of 140
Posted On: 05/10/2016 8:56:33 AM
SAKL April revenues of $1.79M >
http://seekingalpha.com/pr/16482835-sakl-repo...pril-1_79m
SALT LAKE CITY, UT -- (Marketwired) -- 05/10/16 -- Sack Lunch Productions, Inc. (SAKL) (OTC PINK: SAKL), reports total sales of $1,792,566 across all corporate and franchised events in North America for the month of April. Ticket sales for corporate and franchised events were $1,189,222 and $319,736 respectively. The lion's share of ticket sales for April was generated by corporately run Color Me Rad™ events. Our Green Endeavors, Inc. (GRNE) entities contributed $283,608 in realized revenues. GRNE's revenues were up from last year across all three of its Landis Lifestyle Salons locations.
Richard Surber, CEO of SAKL, commented, "While we are extremely pleased with the results announced today, it's important to note that ticket sales are not recorded as realized revenues until we actually hold the event. The ticket sales are booked as unrealized revenues, a liability on the balance sheet, until that event is held. Furthermore, franchisee's ticket sales are not booked as SAKL revenues, only the franchise fees paid to SAKL are booked as revenues. As a result of the rules for revenue recognition, shareholders can expect to see Q1 revenues that will seem low, while liabilities will be relatively high. Coming into Q2 recognized revenues will begin reflecting those ticket sales as we enter our busy season. Finally, Q3 recognized revenues will probably exceed Q1, Q2 and Q4 combined and we will show significant improvement to the balance sheet during the period as revenue from held events will be recognized as those events take place in the summer months. By year end, shareholders can expect to see dramatic reductions in liabilities as a result of converting unrealized revenues to realized revenues because all events will have been completed and significant payments will have been made toward trade creditors as well as our secured line of credit."
Richard Surber, continued, "I am stoked. If operations continue on the same path, we will have totally transformed SAKL by year-end. The revenues and sales numbers for April do not include sponsorship revenues which may comprise a significant portion of revenues by year end. I expect that we will be ready to make the next big step up in our development which means scaling up further, as well as adding entirely new events like Trike Riot to our event offerings in 2017. April data confirms that SAKL will most likely exceed its 2016 forecast of $18M in revenues. We expect sales to accelerate coming into the summer months. "
http://seekingalpha.com/pr/16482835-sakl-repo...pril-1_79m
SALT LAKE CITY, UT -- (Marketwired) -- 05/10/16 -- Sack Lunch Productions, Inc. (SAKL) (OTC PINK: SAKL), reports total sales of $1,792,566 across all corporate and franchised events in North America for the month of April. Ticket sales for corporate and franchised events were $1,189,222 and $319,736 respectively. The lion's share of ticket sales for April was generated by corporately run Color Me Rad™ events. Our Green Endeavors, Inc. (GRNE) entities contributed $283,608 in realized revenues. GRNE's revenues were up from last year across all three of its Landis Lifestyle Salons locations.
Richard Surber, CEO of SAKL, commented, "While we are extremely pleased with the results announced today, it's important to note that ticket sales are not recorded as realized revenues until we actually hold the event. The ticket sales are booked as unrealized revenues, a liability on the balance sheet, until that event is held. Furthermore, franchisee's ticket sales are not booked as SAKL revenues, only the franchise fees paid to SAKL are booked as revenues. As a result of the rules for revenue recognition, shareholders can expect to see Q1 revenues that will seem low, while liabilities will be relatively high. Coming into Q2 recognized revenues will begin reflecting those ticket sales as we enter our busy season. Finally, Q3 recognized revenues will probably exceed Q1, Q2 and Q4 combined and we will show significant improvement to the balance sheet during the period as revenue from held events will be recognized as those events take place in the summer months. By year end, shareholders can expect to see dramatic reductions in liabilities as a result of converting unrealized revenues to realized revenues because all events will have been completed and significant payments will have been made toward trade creditors as well as our secured line of credit."
Richard Surber, continued, "I am stoked. If operations continue on the same path, we will have totally transformed SAKL by year-end. The revenues and sales numbers for April do not include sponsorship revenues which may comprise a significant portion of revenues by year end. I expect that we will be ready to make the next big step up in our development which means scaling up further, as well as adding entirely new events like Trike Riot to our event offerings in 2017. April data confirms that SAKL will most likely exceed its 2016 forecast of $18M in revenues. We expect sales to accelerate coming into the summer months. "
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