SALT LAKE CITY, UT / ACCESSWIRE / October 7, 2022 / Sack Lunch Productions, Inc. (OTCPINK:SAKL) reports that it has executed and closed upon an agreement to cancel 15,000,000 shares of its $.0001 common stock. The redemption is a result of a settlement agreement with a former affiliate of SAKL and Richard Surber, CEO of SAKL which brought Mr. Surber’s holdings of common stock to nearly 49M shares of SAKL’s common stock or 48% of the total issued and outstanding shares of SAKL.
Richard Surber, CEO of SAKL, commented, “We continue to make progress on efforts to improve the capital structure of SAKL. The redemption of 15M shares for $.001 per share, in a related party private transaction, is a big win for existing shareholders based upon the current market price of SAKL’s common stock. The redemption will reduce the total issued and outstanding shares to 86,085,305 from 101,085,305.” Mr. Surber continued, “Further redemptions are on the table as we work towards resolving certain debts, acquire additional assets and operations.”
About Sack Lunch Productions, Inc.:
Sack Lunch Productions, Inc. (OTC PINK:SAKL) is an entertainment company with operations that include the licensing of such events such as Color Me Rad and The Dirty Dash. Investors should not invest more than they can afford to lose in penny stocks.
FOR MORE INFORMATION, CONTACT:
Richard Surber, President
Sack Lunch Productions, Inc.
801-580-7172
[email protected]
SOURCE: Sack Lunch Productions, Inc.
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https://www.accesswire.com/719483/SAKL-Redeems-15M-Shares-of-Its-Common-Stock-Reducing-Issued-and-Outstanding-to-86M