Core Viewpoint - SRM Entertainment, Inc. has entered into a lock-up agreement with Safety Shot, Inc. for 2,347,142 shares, representing approximately 13.7% of its outstanding shares, effective February 10, 2025, which restricts sales until January 1, 2026, indicating a commitment to long-term stability and growth [1][2][3]. Group 1 - The lock-up agreement aims to create an orderly trading market for SRM Entertainment's shares and reflects the shareholder's confidence in the company's future prospects [2]. - This agreement aligns the interests of Safety Shot, Inc. with other shareholders, promoting long-term value creation [2]. - CEO Rich Miller emphasized that the agreement is a significant vote of confidence in SRM Entertainment's strategic direction and growth potential, reinforcing the company's commitment to building long-term value [3]. Group 2 - SRM Entertainment designs, develops, and manufactures custom merchandise, including toys and souvenirs for major theme parks and entertainment venues, with products based on multi-billion-dollar franchises [4]. - The company's products are distributed globally at renowned locations such as Walt Disney Parks and Resorts and Universal Parks and Destinations, enhancing its market presence [4]. - SRM's design team has created specialty products for various attractions, showcasing its innovative capabilities in the entertainment merchandise sector [4].

Winter Park, FL, Feb. 13, 2025 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company,” or “SRM”), a leading designer, developer, and manufacturer of custom merchandise, including toys and souvenirs, announced today that SRM will showcase its creative product line at Toy Fest Vegas, beginning Monday, February 17, 2025. Visit SRM Entertainment: R-Biz Showroom # C-972 Las Vegas Market This strategic move emphasizes SRM's focus on developing high-margin products for 2025, independent of its tr ...

Jupiter, FL, Dec. 12, 2024 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company,” or “SRM”), a leading provider of licensed merchandise and souvenirs, today announced a significant reorder of its popular Sip With Me cups from a premier marine life theme park in Abu Dhabi and the development of exclusive products for a groundbreaking year-round horror attraction in Las Vegas. These developments underscore SRM's growth and strategic expansion into new markets and product categories. The reo ...

Jupiter, FL, Dec. 05, 2024 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company,” or “SRM”, a leading provider of creative and high-quality licensed media-themed merchandise, today announced that it entered into a securities purchase agreement with a certain institutional investor to purchase approximately $1.7 million shares of its common stock (or common stock equivalents in lieu thereof) in a registered direct offering at a purchase price of $0.7385 per share. The gross proceeds to the ...

Jupiter, FL, Dec. 04, 2024 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company,” or “SRM”, a leading provider of creative and high-quality licensed media-themed merchandise, today announced that its online sales on Amazon have surged by over 417% since September. This exceptional growth is driven by strong customer demand for the company's high-margin products and is expected to have a significant positive impact on its financial performance. "Amazon offers a tremendous platform for us t ...

Jupiter, FL, Nov. 14, 2024 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc., (Nasdaq: SRM) (the “Company” or “SRM”) today announced the launch of its new media division, SRM Media, marking a significant expansion of the company's entertainment offerings. This strategic move builds upon SRM's existing media relationship with Suretone Pictures and underscores SRM’s commitment to delivering high-quality entertainment content across various platforms. SRM Media's first acquisition, courtesy of its new Suretone Pictu ...

JUPITER, FL, Sept. 24, 2024 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc., (Nasdaq: SRM) (the "Company" or "SRM") SRM and Suretone Entertainment's Suretone Pictures are in negotiations to form an alliance capitalizing on Suretone Pictures' film productions, tv content creation, existing library and distribution strength alongside SRM's ongoing merchandise, manufacturing and distribution businesses as engaged in providing its services to the major film studios. The initial transaction was closed on September 3 ...

Core Insights - SRM Entertainment, Inc. has announced a new order for custom designed, nostalgic movie character key chains to be sold online and in theaters of a major movie theater chain, enhancing the merchandising experience for moviegoers [1] Company Overview - SRM Entertainment designs, develops, and manufactures custom products, toys, and souvenirs for major theme parks and entertainment venues globally, including Walt Disney Parks and Resorts and Universal Parks and Destinations [6] - The company focuses on creating brand-themed products that resonate with customers, similar to the merchandise experience in theme parks [5] Product Offering - The new key chains will serve as memorabilia and gifts, promoting an enhanced purchasing experience for theater audiences [1] - SRM's product line includes specialty dolls, plush toys, and exclusive-patented Sip With Me cups featuring various characters, including licensed ones from popular franchises [6]

JUPITER, FL, June 10, 2024 (GLOBE NEWSWIRE) -- SRM Entertainment, Inc., (Nasdaq: SRM) (the "Company" or "SRM") is pleased to announce a new order for SRM custom designed, nostalgic movie character key chains which will be available online and in shops at one of the world's largest movie theater chain. The intial order will help theaters promote the enhanced merchandising experience which allows movie goers to purchase memorabilla, souveniers and gifts in theater. SRM Entertainment designs, develops, and man ...

Financial Performance - The Company reported a net loss of $1,710,004 for the three months ended September 30, 2024, compared to a net loss of $38,002 for the same period in 2023, resulting in a basic loss per share of $0.17[104] - For the three months ended March 31, 2024, the Company reported sales of $1,006,357, a decrease from $1,086,888 in the same period of 2023, reflecting a decline of approximately 7.4%[118] - Gross profit for the three months ended March 31, 2024, was $163,547, down from $235,822 in 2023, indicating a decrease of about 30.6%[118] - The Company incurred a net loss of $1,710,004 for the three months ended March 31, 2024, compared to a net loss of $38,002 in 2023, representing a significant increase in losses[122] - Gross margins decreased by 5.4% due to increased manufacturing costs without a corresponding increase in product pricing[119] - Interest income for the three months ended March 31, 2024, was $5,002, while interest expense was $22,240, indicating a net interest expense of $17,238[121] IPO and Share Issuance - The Company completed an IPO, selling 1,250,000 shares at $5.00 per share, generating gross proceeds of approximately $6.25 million and net proceeds of approximately $5.3 million after expenses[97] - Following the separation from Jupiter Wellness, Inc., the Company issued 6,500,000 shares of common stock, representing 79.3% of the outstanding shares post-issuance[96] - The weighted average number of common shares outstanding increased from 6,500,000 in 2023 to 10,043,522 in 2024[104] Operating Expenses - Total operating expenses surged to $1,878,553 for the three months ended March 31, 2024, compared to $251,584 in 2023, marking an increase of approximately 646.5%[120] - The increase in operating expenses was primarily due to costs associated with being a public company, including $443,274 in fees and $536,000 in stock-based compensation[120] Company Structure and Ownership - As of March 31, 2024, Jupiter owns approximately 35% of the Company's common stock[86] - The Company is classified as an "emerging growth company," allowing it to take advantage of certain reporting exemptions[99] Product and Market Strategy - The Company has a diverse product range priced between $2.50 and $50.00, catering to a broad consumer demographic[94] - The Company has established licensing relationships with major content providers, including Walt Disney Parks and Resorts and Universal Studios, enhancing its product offerings[93] - The Company aims to leverage its low-fixed cost production model to dynamically manage product releases and capitalize on pop culture trends[95] Tax and Accounting - The deferred tax asset as of March 31, 2024, was approximately $847,803, fully offset by a valuation allowance due to the Company's lack of earnings history[111] - The Company has not identified any recent accounting pronouncements that apply to its operations[116]