Sack Lunch Productions Inc (SAKL)

[Blizzld]

Well some of the money collected from ticket sales was for events that have not happened yet so there is 2 million plus in deferred revenues on the balance sheet that will be in income next quarter (assuming the events are all done by next quarter).

But there are a few things to mention, one of which I posted about prior is the huge G&A expense on an ongoing basis. The second is the conversion of shares from the preferred. Basically they can decide or not decide to convert any time they want so I think I saw 6-8 million shares? coming from the preferred to common.

This is where the problem is as this moves or stays where it is they can just keep converted Preferred shares and suck the money out, only some of those were restricted unless the notes about it are not correct