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Sack Lunch Productions (OTC PINK: SAKL) has achieved a significant debt reduction through a settlement with North Carolina, modifying a default judgment related to a previously canceled event. The settlement, signed on December 5, 2024, reduces the penalty portion from $7.884M to $15,000, with a total payment obligation of $95,607 to be paid over time.
The modified judgment was signed by the court on January 16, 2025. As of December 31, 2024, SAKL reports nominal liabilities and a capital structure free of convertible debt. According to CEO Richard Surber, this settlement removes a major obstacle that had previously hindered the company's ability to secure financing and pursue potential acquisitions, positioning SAKL for future growth and expansion opportunities.
Sack Lunch Productions (OTC PINK: SAKL) announced its intent to acquire a 45% interest in Arowana Media Holdings, a multimedia acquisitions firm, to access its valuable intellectual properties. This acquisition is expected to close by the end of November 2022. Arowana's CEO revealed ongoing negotiations for acquiring new properties, including a potential franchise inspired by renowned comic book narratives. The intellectual property licensing industry is projected to grow 9.1% in 2022, suggesting enhancing market conditions for such acquisitions.
Sack Lunch Productions, Inc. (OTCPINK:SAKL) announced the cancellation of 15,000,000 shares of its common stock, decreasing total outstanding shares from 101,085,305 to 86,085,305. This redemption was part of a settlement agreement with a former affiliate of SAKL and its CEO, Richard Surber, who now holds nearly 49 million shares, or 48% of total shares. Surber highlighted that this move is beneficial for existing shareholders, given the current market price, and indicated that further redemptions may occur to manage debts and acquire additional assets.
Sack Lunch Productions (OTC PINK: SAKL) announced plans to acquire a 45% minority interest in Arowana Media Holdings to access its intellectual property, including films and books. The acquisition is expected to close within 45 days. Notably, Arowana will engage Joey Clarke Jr. to adapt the bestselling novel Wish into a feature film. The intellectual property licensing industry is projected to grow by 9.1% in 2022, reaching over $58 billion. Arowana is also raising up to $1,070,000 in working capital to further develop its media assets.
Sack Lunch Productions (OTC PINK: SAKL) announces a strategic partnership with Arowana Media Holdings to acquire a 45% minority stake, gaining access to valuable intellectual property, including film and book titles. Arowana plans to adapt the bestselling novel Wish by Barbara O'Connor into a feature film, with Joey Clarke Jr. as the adapter. The intellectual property licensing industry is projected to grow by 9.1% in 2022, reaching over $58 billion. Arowana seeks to raise $1,070,000 to fund additional acquisitions and development costs.
Sack Lunch Productions (OTC PINK: SAKL) and Arowana Media Holdings are collaborating to test-market the iconic Vampirella series, harnessing Sack Lunch's vast audience of over 2 million media followers. This partnership aims to capitalize on the post-COVID surge in video streaming and capitalize on strong market trends. Arowana's Vampirella is the longest-running vampire comic, recently achieving record sales. The OTT video market is projected to grow from $46.4 billion in 2019 to $86.8 billion by 2024, indicating significant revenue potential.
Sack Lunch Productions (OTC PINK: SAKL) announced its intention to acquire a 45% non-dilutive interest in Arowana Media Holdings Inc. on September 6, 2022. This strategic move aims to enhance digital media and entertainment offerings, allowing both companies to leverage their intellectual properties. Arowana specializes in developing undervalued content, including properties like the bestselling 'Wish.' The intellectual property licensing industry is projected to grow 9.1% in 2022, highlighting significant market opportunities for the combined entities.
Sack Lunch Productions, Inc. (OTC PINK: SAKL) has entered into an exclusive licensing agreement to host its Color Me Rad events throughout North America. The licensee plans to organize 20 events in 2022, with no operational involvement from SAKL. The licensee has successfully managed over 40 events prior to 2017, fueling excitement for the return of Color Me Rad events. CEO Richard Surber expressed confidence in the licensee's ability to deliver quality events. Investors are cautioned that actual results may vary due to potential risks, including adverse weather and regulatory hurdles.
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