ABCP - AMBASE REPORTS RESULTS FOR THE TWELVE MONTHS ENDED DECEMBER 31 2021
PR Newswire
CORAL SPRINGS, Fla. , March 25, 2022 /PRNewswire/ -- AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced today a net loss of $5,208,000 or $0.13 per share for the twelve months ended December 31, 2021 .
For the twelve months ended December 31, 2020 , the Company recorded a net loss of $5,604,000 or $0.14 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 Company also announced that it has fixed the close of business on Wednesday, April 13, 2022 , as the record date for the upcoming 2022 Annual Meeting of Stockholders of AmBase Corporation, which will be held at 9:00 AM Eastern Time on Thursday , June 2, 2022 at the Hyatt Regency Hotel, 1800 East Putnam Avenue, Greenwich, Connecticut .
The information in this press release should be read in conjunction with the AmBase Corporation's Annual Report on Form 10-K for the year-to-date period ended December 31, 2021 , 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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Twelve Months |
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2021 |
2020 |
Operating expenses |
|
|
|
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5,208 |
5,640 |
Operating loss |
|
|
|
|
|
(5,208) |
(5,640) |
Interest income |
|
|
|
|
|
1 |
8 |
Income (loss) before income taxes |
|
|
|
(5,207) |
(5,632) |
Income tax expense (benefit) |
|
|
|
1 |
(28) |
Net income (loss) |
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(5,208) |
(5,604) |
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Net income (loss) per common share - basic |
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(0.13) |
(0.14) |
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Weighted average common shares outstanding - basic |
|
|
40,738 |
40,738 |
SOURCE AmBase Corporation
Company Name: | Ambase Corp |
Stock Symbol: | ABCP |
Market: | OTC |
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