Replies to post #31337 on Sack Lunch Productions Inc (SAKL)

[Werbe]

Debt Reduction News! Awesome man.

SALT LAKE CITY, March 19, 2018 (GLOBE NEWSWIRE) -- Sack Lunch Productions, Inc. (OTC PINK:SAKL) announced today that it has reduced a significant amount of debt through a series of transactions designed to simplify operations and reduce administrative costs. SAKL sold a partially vacant property in January for the total sale price of $880,000. The proceeds were used to eliminate $688,040 in debt, as well as provide short term working capital.

More recently, SAKL sold its interest of 90% plus interest in Green Endeavors, Inc. (GRNE), the parent company of its Landis Salons operations. The sale was consummated to further streamline operations, as well as to eliminate over $1M worth of liabilities that have historically been consolidated on the SAKL balance sheet. The shares in GRNE were sold for $100,000 in the form of a cash payment to a secured creditor of SAKL. GRNE showed recurring losses and a negative net worth. A series of transactions are expected to occur which will eliminate what were intercompany balances.

SAKL recently announced its Regulation A+ Offering has been filed with the SEC and was qualified March 2, 2018. The Offering Circular pursuant to Regulation A+ is to offer Series E Convertible Preferred Stock to the public. The offering will be for up to 2,400,000 shares of Series E Convertible Preferred Shares with potential proceeds in excess of $10,000,000. To invest in our Series E Preferred shares under the offering, see Invest in Sack Lunch.

[benosufan]

All IMO of course....The PR was misleading considering SAKL now owes LCF Salons LLC $300,000 as part of that whole TCA/GRNE deal. Surber had to find a way to maintain his control over his salon business (GRNE) since TCA must have seized it from him for defaulting on the TCA loan. So he had Logan resign from GRNE last year, create his own LLC, and had LCF Salons LLC borrow 100k from another company Surber is involved with to pay TCA so they would release the GRNE shares. Of course those shares go to LCF salons LLC under Surber's former right hand man at GRNE Logan Fast. Surber remains President, CEO, CFO of GRNE. It's just the controlling interest is now held at LCF Salons LLC. Logan Fast get's a net $200,000 for his willingness to work with Surber.....BRILLIANT WORK! Amazing stuff happens in the OTC. I have to give Surber credit here...he cleans up some debts on SAKL balance sheets, maintains his control over GRNE via LCF Salons LLC/Logan Fast, and gets people to believe he sold those GRNE shares to LCF Salons LLC for 100k. I have learned so much over the years watching Surber. He's a genius when it comes to working these OTC tickers.


From the GRNE 8k

LCF paid $100,000 to obtain a release of the claims of TCA Global Credit against SAKL and the transfer of the Salon Businesses to LCF and the Company has entered into a promissory note in the amount of $300,000 to be paid to LCF for the release obtained by LCF from the TCA obligations

LCF obtained the funds through a loan from DHX Holdings LLC to LCF, Richard Surber is a member/manager of DHX.

From the SAKL PR

The shares in GRNE were sold for $100,000 in the form of a cash payment to a secured creditor of SAKL.