SRM Entertainment Corporate Update
01 Novembro 2023 - 9:30AM
SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company” or “SRM”) is a
trusted toy and souvenir designer and developer, selling into the
world’s largest theme parks and entertainment venues. SRM has
licensing relationships with many established content providers,
and our products appear in venues such as Walt Disney Parks and
Resorts, Universal Studios, SeaWorld, Six Flags and Imagine
Exhibitions.
Starting in 2020, SRM refocused its business
plan which has allowed us to deliver significant growth. Increasing
the strength of our management team and building stronger
relationships with content providers, retailers, and third-party
manufacturers allows us to move from product concept to a new
product more efficiently. These strategic improvements have been
reflected in our business results:
Income
statements |
|
2022 |
|
|
2021 |
|
Revenue |
|
|
|
|
|
|
|
|
Sales |
|
$ |
6,076,116 |
|
|
$ |
2,665,827 |
|
Cost of Sales |
|
|
4,845,217 |
|
|
|
2,110,395 |
|
Gross profit |
|
|
1,230,899 |
|
|
|
555,432 |
|
|
|
|
|
|
|
|
|
|
Operating
expense |
|
|
886,398 |
|
|
|
584,493 |
|
|
|
|
|
|
|
|
|
|
Net Income (loss) |
|
$ |
344,501 |
|
|
$ |
(29,061 |
) |
SRM successfully completed our initial public
offering in August 2023. Since that time, we’ve been expanding
beyond our core theme park business. We’ve added multi-year license
agreements for SRM’s patented Sip with
Me® children’s cups which feature
Smurfs and Zoonicorn franchise
characters, which will be sold online and at retail stores
throughout the country.
2024 will see the launch of several new SRM
product lines which include ICEE, Sealife and Zoo collections. A
new Smurfs movie, featuring Rihanna, will be released in February
2025 and a new Orlando theme park will open in 2025. These new
product launches should help build on SRM’s drive to expand our
core business along with licensing partnerships for our hydration
and table-top products, including our patented double drinking
straw Sip with Me® tumblers and
other products.
SRM has developed what we believe is a nimble
and low-fixed cost production model. As a result, we can
dynamically manage our business to balance current content releases
and pop culture trends with timeless content based on classic
movies and known brands. This has allowed us to deliver growth
while lessening our dependence on individual content releases.
About SRM Entertainment, Inc.
SRM Entertainment, Inc. designs, develops, and
manufactures custom toys and souvenirs for the world's largest
theme parks and entertainment venues. The Company provides
exclusive custom products that are available worldwide at venues
such as Walt Disney Parks and Resorts, Universal Studios, SeaWorld
and other attractions. Additionally, SRM recently launched its
retail product line which includes its patented SMURFS Sip with Me
cups.
Caution Regarding Forward-Looking
Statements
Certain statements in this announcement are
forward-looking statements. Investors can identify these
forward-looking statements by words or phrases such as “may,”
“will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “potential,” “continue” or
other similar expressions. These statements are subject to
uncertainties and risks including, but not limited to, the risk
factors discussed in the “Risk Factors” section of the registration
statement for the Offering filed with the SEC. Although the Company
believes that the expectations expressed in these forward-looking
statements are reasonable, it cannot assure you that such
expectations will turn out to be correct, and the Company cautions
investors that actual results may differ materially from the
anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations that arise after the date hereof,
except as may be required by law.
Media and Investor Relations
Info@SRMentertainment.com(407)-230-8100
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