MHpC - Manufactured Housing Properties Inc. Announces Results for the Three and Six Months Ended June 30 2021

Charlotte, North Carolina, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Manufactured Housing Properties Inc. (OTC: MHPC), which acquires, owns, and operates 30 manufactured housing communities containing approximately 1,532 developed sites, today announced operating results for the quarter ended June 30, 2021.

Total revenues and EBITDA for the quarter ended June 30, 2021 were $1,799,438 and $840,719, respectively, compared to $1,578,845 and $722,562, respectively, for the quarter ended June 30, 2020. Total revenues and EBITDA for the six months ended June 30, 2021 were $3,505,302 and $1,385,874, respectively, compared to $2,941,935 and $1,206,747, respectively, for the six months ended June 30, 2020.

Raymond M. Gee, Chairman and CEO of Manufactured Housing Properties Inc. commented, “Our 2021 results for the six months reflect the stabilization and growth of our portfolio, as we continue our efforts to maximize returns to our investors.”

Michael Z. Anise, President and CFO of Manufactured Housing Properties Inc. added “We continue to grow our portfolio with key acquisitions that contribute to our improved financial performance. We are excited to continue this trend with our acquisition pipeline, which will be facilitated by our ongoing $47 million preferred stock offering under Regulation A of the Securities Act.”

Reconciliation of Non-GAAP Financial Measures

Manufactured Housing Properties Inc. presents Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) in addition to its Net Income (Loss) reported in accordance with accounting principles generally accepted in the United States (GAAP).  EBITDA is a non-GAAP financial measure that differs from Net Income. Non-GAAP EBITDA excludes income tax expense, interest expense and depreciation and amortization, as well as refinancing cost. The table presented below includes a list of items excluded from Net Income (Loss) to reconcile to non-GAAP EBITDA. EBITDAEBITDAEBITDAEBITDA

Management believes non-GAAP EBITDA is useful to investors and other users of our financial statements in evaluating operating performance because it provides them with an additional tool to compare business performance across companies and across periods. Management also believes that non-GAAP EBITDA is widely used by investors to measure operating performance without regard to items such as income tax expense, interest expense and depreciation and amortization, which can vary substantially from company to company depending upon, among other things, the book value of assets, capital structure and whether assets were constructed or acquired. Non-GAAP EBITDA also allows investors and other users to assess the underlying financial performance of our income producing properties before management’s decision to deploy capital. The presentation of non-GAAP EBITDA is intended to complement, and should not be considered an alternative to, the presentation of Net Income, which is an indicator of financial performance determined in accordance with GAAP. In addition, non-GAAP EBITDA as presented in this release may not be comparable to similarly titled measures used by other companies.

About M anufactured H ousing Properties Inc.

Manufactured Housing Properties Inc., together with its affiliates, acquires, owns, and operates manufactured housing communities. The Company focuses on acquiring and operating manufactured home communities in high growth markets.

Contact:
Michael Z. Anise
President and Chief Financial Officer
(980) 273-1702 ext. 244

Cautionary Statement Regarding Forward-Looking Statements

Any statements contained in this press release regarding us, our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. The forward-looking statements contained herein represent our judgment as of the date of publication of this press release and we caution you not to place undue reliance on such statements. Factors that could cause actual results to differ from the forward looking statements include those factors described in the “Risk Factor” section in our annual and quarterly reports filed with the SEC.  Our company, our management and our affiliates assume no obligation to update any forward-looking statements to reflect events after the initial publication of this press release or to reflect the occurrence of subsequent events.

Regulation A Offering

An offering statement relating to our Series C Preferred Stock offering has been filed with the Securities and Exchange Commission but has not yet become qualified. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement is qualified, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. A copy of the most recent version of the Preliminary Offering Circular can be accessed here (https://www.sec.gov/Archives/edgar/data/1277998/000121390021021367/ea139383-1aa2_manufactured.htm). You can also obtain a copy of the Preliminary Offering Circular by contacting J.R. Thacker at Arete Wealth Management, LLC, the placement agent for the Regulation A offering, by calling (888) 690-3580, by email at jrthacker@centerstreetsecurities.com, or write to Arete Wealth Management, LLC at 2 International Plaza Suite 301, Nashville, TN  37217.

No money or other consideration is being solicited, and if sent in response, will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until an offering statement on Form 1-A is qualified pursuant to the Securities Act of 1933, as amended, and any such offer may be withdrawn or revoked without obligation or commitment of any kind, at any time before notice of its acceptance is given after the qualified date. Any person's indication of interest involves no obligation or commitment of any kind.

For more information about Regulation A offerings, including the unique risks associated with these types of offerings, please click on the SEC's Investor Alert .

Investing in a Regulation A offering is subject to unique risks, tolerance for volatility, and potential loss of principal, that customers should be aware of prior to making an investment decision. Neither the Company nor Arete Wealth Management, LLC can guarantee the availability of securities sold in the Regulation A offering for customers, who submit conditional orders as the number of shares available for distribution may exceed the supply.

Investing in securities involves risk, including the possible loss of principal, individual investments may face increased risk of price fluctuation over more diversified holdings due to adverse developments within a particular industry or sector.