Sack Lunch Productions Inc (SAKL)

[benosufan]

If you see him, ask Richard Surber about the Form 1-A offering recently filed. Maybe ask him why the most recent quarterly report is over a month late.

Looking through the Form 1A it appears he may have struck a deal with TCA funding folks....he has to sell a new series...preferred E shares to pay off the debt that is left from the restructure.

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12207320#SL_EX15Z1_HTM__TOC489368611

If we sell Shares for aggregate gross proceeds of $12,000,000 (or $14,000,000 if we sell the Additional Shares) our net proceeds (after our estimated other offering expenses of $1,680,000 or $1,960,000) will be $10,320,000 (or $12,040,000 if we sell the Additional Shares). We intend to use these net proceeds as follows:


? $2,064,000 to repay amounts owed to TCA Global Credit Master Fund, L.P.;
? $1,861,086 to repay certain notes payable (defined below); and
? the remainder will be used for working capital and other general corporate purposes.

The precise amounts that we will devote to each of the foregoing items, and the timing of expenditures, will vary depending on numerous factors.

Upon completion of this offering, we will be required to pay the outstanding debt and accrued interest to TCA Global Credit Master Fund, L.P. Additionally, in all but the 25% scenario below, we will pay, (i) the outstanding principle balance and any accrued interest related to certain convertible notes payable, $455,995, (ii) the outstanding principle balance and any accrued interest related to certain notes payable, $1,311,388, and (iii) the outstanding principle balance and any accrued interest related to certain related party notes payable, $93,703.

TCA Global Credit Master Fund, L.P. vs Sack Lunch Productions, Inc., Green Endeavors, Inc., Landis Salons, Inc., Landis Salons II, Inc., Diversified Managements Services, Inc., Wasatch Capital Corporation, Downtown Development Corporation, WG Productions Company, Landis Experience Center, LLC, Redline Entertainment, Inc., Springbok Holdings, LLC, Color Me Rad, LLC, The Dirty Dash, LLC, Springbok Franchising LLC, and Springbok Management, LLC, Case CACE-17-011661 Division 12, in the Circuit Court of the 17 th Judicial Circuit In and For Broward County, Florida. The suit seeks recovery for payments that were due in accordance with the terms and provisions of the Senior Secured Credit Facility Agreement effective between the parties as of October 31, 2015. Defendants have not yet filed responses to the complaint and discussions to resolve the matter are ongoing.