ABCP - AMBASE REPORTS RESULTS FOR THE THREE MONTHS ENDED MARCH 31 2022
PR Newswire
CORAL SPRINGS, Fla. , May 5, 2022 /PRNewswire/ -- AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced today a net loss of $1,057,000 or $0.03 per share for the three months ended March 31, 2022 .
For the three months ended March 31, 2021 , the Company recorded a net loss of $1,635,000 or $0.04 per share.
Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are inherently subject to risks and uncertainties, many of which cannot be predicted or quantified. Forward-looking statements can be identified by such words as "estimates," "expects," "anticipates," "believes," "plans," "intends" and variations of such words and similar expressions. The Company cautions readers that a variety of factors could cause the Company's actual results to differ materially from the anticipated results or other expectations expressed in the Company's forward-looking statements. These risks and uncertainties, many of which are beyond the Company's control, include, but are not limited to those set forth under the heading "Forward-Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.|
The information in this press release should be read in conjunction with the AmBase Corporation's Quarterly Report on Form 10-Q for the year-to-date period ended March 31, 2022 , filed with the Securities and Exchange Commission. A more complete discussion of the Company's annual results and the Company's affairs is included in AmBase Corporation's Annual Report on 10-K for the annual period December 31, 2021 , filed with the Securities and Exchange Commission.
AmBase Corporation |
Summary Results |
(in thousands, except per share data) |
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Three Months |
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2022 |
2021 |
Operating expenses |
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1,057 |
1,635 |
Operating loss |
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(1,057) |
(1,635) |
Interest income |
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- |
1 |
Income (loss) before income taxes |
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(1,057) |
(1,634) |
Income tax expense (benefit) |
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- |
1 |
Net income (loss) |
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(1,057) |
(1,635) |
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Net income (loss) per common share - basic |
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(0.03) |
(0.04) |
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Weighted average common shares outstanding - basic |
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40,738 |
40,738 |
SOURCE AmBase Corporation
Company Name: | Ambase Corp |
Stock Symbol: | ABCP |
Market: | OTC |
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