Category Archives: Business

Martin Sumichrast on KURE Franchise

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CHARLOTTE, N.C., Dec. 9, 2015 /PRNewswire/ — In August of 2015, KURE Franchise LLC, a wholly owned subsidiary of KURE Corp., announced that its Franchise Disclosure Document (the “FDD”) had been accepted and approved in over 37 states and has pending applications in 15 other states.

Since the launch of its first corporate KURE modern Vaporium and Lounge earlier this year, KURE set goals of expanding to over 100 stores in the U.S. by the end of 2016. With its franchise model in place, KURE’s goal of achieving 100 stores by 2016 nears reality. In just over a four month period, KURE Franchise LLC has sold over 30 franchises in the states of North Carolina, South Carolina, Florida and Georgia, with pending multi-unit development agreements in Connecticut, Virginia, Tennessee, Texas and California.

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Martin Sumichrast on KURE Franchise Campaign Off to Sizzling Start

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“We are excited for the future of KURE Corp. As KURE’s Franchise continues to exceed expectations and lead its industry, we stand behind this company’s every move.” says Martin Sumichrast, Chairman, Level Brands

CHARLOTTE, N.C., Sept. 1, 2015 /PRNewswire/ — It didn’t take long for interest in KURE franchises to heat up.

Benjamin said that KURE is uniquely positioned to take advantage of the vaping industry’s evolution from an underground movement to a mainstream phenomenon. According to industry research, one in every 10 Americans are now vaping or using e-cigarettes and the retail vaping industry is expected to reach $3.5 billion in 2015, which more than doubles what industry analysis had predicted in 2013.

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Social Reality: Record Revenue for Q2 2015

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LOS ANGELES, CA–(Marketwired – August 13, 2015) – Social Reality, Inc. (OTCQB: SCRI).Revenue for the quarter ended June 30, 2015 was $10,761,573, an increase of 3,786% over the second quarter of 2014, and a 168% increase over the first quarter of 2015.

Balance Sheet as of June 30, 2015

Cash and cash equivalents totaled $1,515,726 on June 30, 2015. Current assets and total assets were $10,784,710 and $32,101,129, respectively, while current liabilities and total liabilities were $17,045,848 and $27,533,988, respectively. As of June 30, 2015, the company had stockholders’ equity of $4,567,141, a 15% sequential increase over $3,963,032 at March 31, 2015.

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Martin Sumichrast on KURE Franchising in 36 States

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KURE has dramatically elevated the meaning of consumer experience in the vaping industry with its unique, up-scale KURE Vaporium & Lounge, featuring “industrial-chic” decor as well as a welcoming and knowledgeable staff of “Kurators”. Each location is well-stocked with the most recognized brands and products, including KURE’s own premium line of vapor hardware and e-Juices.

“We continue to be impressed at KURE’s sense of timing and execution. The franchising capability now paves the way for KURE to significantly increase its revenues, not only at a store level, but at a much larger scale by being able to pursue new markets and territories with a strong franchise and support model unique to its industry, which can ultimately develop into a much larger global opportunity for KURE,” said Martin Sumichrast, Chairman of Level Brands Inc and Chairman of KURE Corp.

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Martin Sumichrast on KURE/ Best Buddies Partnership

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CHARLOTTE, N.C., July 7, 2015 /PRNewswire/ — KURE Corp. is pleased to announce that it has partnered with Best Buddies International, a nonprofit dedicated to creating opportunities for friendship, employment and leadership training for people with intellectual and developmental disabilities (IDD).

This goodwill collaboration celebrates Best Buddies International as the exclusive and official charity partner of KURE Corp. A certain percentage of KURE’s annual corporate and franchise store revenues will be donated to the charitable organization. Furthermore, as a goodwill ambassador to Best Buddies, KURE will visibly display the Best Buddies logo in all of its corporate and franchise stores where its customers are also able to donate to Best Buddies during their point of purchases, which will then be equally matched by the company.

“[This] relationship will certainly have long term benefits to the people it will touch and influence for many years to come and will be as equally rewarding to both organizations. ” Read the full story here.

Martin Sumichrast on Kure Corp’s expansion

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“Dave Peterson and his team have demonstrated within a very short period of time how they are able to successfully execute on their business plan with clear vision and focus. This is becoming an increasingly competitive market riddled with uncertainty in regulation and consumer opinion. However, KURE has gone above and beyond those challenges by continuously innovating its products and customer experience. In our opinion, KURE has cleared one of the most difficult market obstacles by bridging adoption by all types of consumers”, said Martin Sumichrast, Chairman of Level Brands.

The capital raised will be used primarily to expand KURE’s retail store expansion in the United States. Currently, KURE has successfully opened KURE Vaporium stores in the Charlotte, North Carolina area and in Boca Raton, Florida. Three additionalCharlotte area stores are currently in the build-out stages and are scheduled to open within the next three months. The Boca Ratonstore, which opened early May of this year, has its grand opening party set for June 13th.

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Social Reality, Inc. Appoints Martin A. Sumichrast to Its Board of Directors

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LOS ANGELES, Jan. 27, 2015 /PRNewswire/ — Social Reality, Inc. (OTCQB: SCRI), an automated digital platform technology and social management software company for Internet advertising, announced today the addition of Martin A. Sumichrast to its board of directors.

Social Reality.

Mr. Sumichrast brings over 25 years of experience in investing and providing business advisory services to corporations in the United States, Europe and Asia. He currently serves as the Chairman and CEO of Level Brands, a Charlotte, North Carolina-based merchant banking operation. Level Brands and its affiliate funds are one Social Reality’s largest investors. He also serves as Managing Director of Washington Capital, LLC, a family owned office. Mr. Sumichrast serves as a Trustee and Chairman of the Nominating and Governance Committees, of the Babson Capital Growth Short Duration High Yield Fund, Inc. and the Babson Capital Funds Trust, an open-end investment company advised by Babson Capital Management, LLC, a global asset manager with over $200 billion in assets under management. Mr. Sumichrast is also a member of the Board of Directors of Kure Corp, a vapor brand that specializes in the distribution of vaporizing pens, e-Juices and related accessories. He also is the Co-Chairman of the Jadeveon Clowney Help-In-Time Foundation, a non-for-profit charity that helps children of incarcerated parents. He is co-author and contributor of Opportunities in Finance Careers and The New Complete Book of Homebuying.

“We are very fortunate that Marty has agreed to join our board,” said Christopher Miglino, CEO and co-founder of Social Reality. “His insights into the capital markets have been instrumental in getting the company to where it is today. We look forward to a continued and expanded relationship.”

About Social Reality

Founded in 2010, Los Angeles-based Social Reality, Inc. is an Internet advertising company that provides tools that automate the digital advertising market. The company has built technologies and leveraged partner technologies that service social media and the real-time bidding (RTB) markets. For more information, please visit www.socialreality.com,www.srax.com, www.sraxmd.com, www.sraxdi.com, www.groupad.com and  www.steelmediainc.com

Forward-Looking Statements

This press release contains forward-looking statements. Any statements contained herein which do not describe historical facts forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those discussed in such forward-looking statements. Statements about past financial results do not, and are not meant to, predict future results. Social Reality can provide no assurance that such results and performance will continue.

Risks and uncertainties include, among others: (1) the possibility that we may not realize the expected benefits, synergies and opportunities anticipated in connection with the acquisitions, including the anticipated revenue and cost synergies, and continuing revenue growth, (2) the challenges of integrating the Steel Media commercial team with Social Reality, (3) the impact on sales from competitive pricing, and sales and marketing initiatives, (4) liabilities we assume from Steel Media that may be higher than expected, (5) the possibility that sales will not meet expectations as a result of current and future competition, (6) in connection with the Steel Media acquisition, we have incurred a substantial amount of indebtedness and will have to comply with restrictive and affirmative debt covenants, (7) the expectation that we will need to raise additional capital from the sale of our equity, which will cause significant dilution to our stockholders, in order to satisfy our contractual obligations, including our debt service, earn out payments that may become payable to Steel Media’s stockholder or in order to pursue business development activities, (8) due to the Steel Media transaction, we are highly leveraged and have limited cash resources which may limit our ability to take advantage of attractive business development opportunities and execute on our strategic plan, (9) our ability to execute on our long-term strategic plan or to realize the expected results from our long-term strategic plan, (and (10) other risks identified in our filings with the U.S. Securities and Exchange Commission (SEC), including our Quarterly Report on Form 10-Q for the period ended September 302, 104 and subsequent filings with the SEC. Any of the above risks and uncertainties could materially and adversely affect our results of operations, our profitability and our cash flows, which would, in turn, have a significant and adverse impact on our stock price. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.

We disclaim any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements.

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SOURCE Social Reality, Inc.

KURE Corp, Announces Martin Sumichrast to its Board of Directors

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CHARLOTTE, Jan. 20, 2015 /PRNewswire/ — KURE Corp (“KURE”), announced today its members of the board of directors. David Peterson, CEO of KURE Corp comments, “We want to continue to recruit the best talented leaders and world class directors for our organization. Each of our members has a specific expertise they bring to KURE from finance, real estate, to international business. We are excited to have these recognized professionals as members of our board that will contribute significant value to our long term success.”

The members of KURE’s board of directors are as follows:

Martin A. Sumichrast is the Chairman and CEO of Level Brands, a Charlotte, North Carolina private merchant bank. Mr. Sumichrast also serves as a Trustee and Chairman of the Nominating and Governance Committees of the Babson Capital Growth Short Duration High Yield Fund, Inc. and the Babson Capital Funds Trust, Inc.

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