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) | ||||||||
| | | | | | | | |
| | | | | | Three Months | ||
| | | | | | | 2022 | 2021 |
Operating expenses | | | | | 1,057 | 1,635 | ||
Operating loss | | | | | | (1,057) | (1,635) | |
Interest income | | | | | | - | 1 | |
Income (loss) before income taxes | | | | (1,057) | (1,634) | |||
Income tax expense (benefit) | | | | - | 1 | |||
Net income (loss) | | | | | (1,057) | (1,635) | ||
| | | | | | | | |
Net income (loss) per common share - basic | | | (0.03) | (0.04) | ||||
| | | | | | | | |
Weighted average common shares outstanding - basic | | | 40,738 | 40,738 |
SOURCE AmBase Corporation