NEW YORK, Oct. 9, 2015 (GLOBE NEWSWIRE) -- Soupman, Inc. (OTCQB:SOUP), makers of the best-tasting soup in the world, announces that it has completed the restructuring of all of its senior secured debt. The Company's balance sheet will now reflect a total of $1 million of senior secured debt payable over three years bearing a 5% annual interest rate, with a balloon payment due upon maturity. The Company has also settled all litigation with its senior secured lender. Under the leadership of its new CEO, Jamieson Karson, the company is focused on further decreasing its liabilities and growing its distribution channels.

"This restructuring is a significant step in relaunching our business and brand as it significantly improves the financial condition of the company and should position us for future growth. We thank our lenders for their cooperation in reaching this agreement and long-standing support of the Company and its brand," stated Jamieson Karson, CEO of Soupman, Inc.

"We have been working diligently these past few months to reduce our outstanding liabilities," continued Karson, "and expect that when our audited financials for fiscal year ending 8/31/2015 are completed, they will reflect a reduction in our outstanding liabilities by more than $4.5 million." The Company is scheduled to release its year-end results by 11/30/15.

Mr. Karson is scheduled to appear on Maria Bartiromo's TV show, Mornings With Maria on Fox Business News on Tuesday, October 13.

The Original Soupman® offers over 50 varieties of soups including such famous flavors as Lobster Bisque, Crab Bisque, Chicken Gumbo, Crab Corn Chowder, Mulligatawny, Butternut Squash, Jambalaya, Shrimp Bisque, Italian Sausage, Eggplant Parmigiana, Tomato Basil and many more. The Original Soupman® soups are also available in 6 varieties in 17 ounce Tetra Pak cartons in grocery stores including Publix, Kroger, Ralph's, Vons, Pavilions, HEB and Safeway among many others. The soups can also be ordered online and at Amazon.com. For a store tracker or to order, go to www.originalsoupman.com.

Consumers can visit the Soupman at his original store in NYC on 55 Street & 8th Ave, on soupmobiles at local events throughout the nation and ladling soup for fans at MetLife stadium during the football season.

About Soupman, Inc.

In 1984, The Original Soupman opened its doors at 55th Street & 8th Avenue in Manhattan and quickly became a worldwide destination. Rated #1 by Zagat and praised by the New York Times as "Art, not Soup," it set the standard for innovation and excellence long before the famous "Seinfeld" episode made it a cultural icon. We sell soup across America to in Tetra Pak cartons grocery stores next to Campbell's and Progresso as well in our franchise restaurants, soupmobiles and foodservices. Shaquille O'Neal is an advisor and equity partner, as are Mr. October, Reggie Jackson and the award-winning actor, Jason Alexander. Jamieson Karson, former CEO of Steve Madden Shoes, is our Chairman and CEO. Soupman Inc., is a fully reporting public company trading under the symbol SOUP. For additional information on our company please visit: www.originalsoupman.com OriginalSoupMan and "Like" us on Facebook.

Safe Harbor Statement:

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The forward-looking statements are based on current expectations, estimates and projections made by management. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates" or variations of such words are intended to identify such forward-looking statements. The forward-looking statements contained in this press release include, statements regarding the expected benefits from the restructuring of the Company's senior secured debt and the expected reduction in outstanding liabilities to be reflected in our audited financial statements once completed. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements such as any changes to the amount we expect to be reported as reduction in our outstanding liabilities in our financial statements as a result of the completion of our audit, our ability to position the Company for future growth , and the risk factors discussed in the Business and Management's Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available www.originalsoupman.com .

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CONTACT: For More Information Contact:
         Diane Lilli
         Bender Group PR
         973.744.0707
         Diane.Lilli@BenderGrouppr.com

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