PR Newswire
CORAL SPRINGS , Fla., March 24, 2021 /PRNewswire/ -- AmBase Corporation (OTC: ABCP) ("AmBase" or the "Company") announced today a net loss of $5,604,000 or $0.14 per share for the twelve months ended December 31, 2020 .
For the twelve months ended December 31, 2019 , the Company recorded a net loss of $4,926,0000 or $0.12 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 14, 2021 , as the record date for the upcoming 2021 Annual Meeting of Stockholders of AmBase Corporation, which will be held at 9:00 AM Eastern Time on Thursday , June 3, 2021 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, 2020 , 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, 2020 , filed with the Securities and Exchange Commission.
AmBase Corporation | ||||||||
Summary Results | ||||||||
(in thousands, except per share data) | ||||||||
| | | | | | | | |
| | | | | | Twelve Months | ||
| | | | | | | 2020 | 2019 |
Operating expenses | | | | | $ 5,640 | $ 4,991 | ||
Operating loss | | | | | | (5,640) | (4,991) | |
Interest income | | | | | | 8 | 36 | |
Income (loss) before income taxes | | | | (5,632) | (4,955) | |||
Income tax expense (benefit) | | | | (28) | (29) | |||
Net income (loss) | | | | | $ (5,604) | $ (4,926) | ||
| | | | | | | | |
Net income (loss) per common share - basic | | | $ (0.14) | $ (0.12) | ||||
| | | | | | | | |
Weighted average common shares outstanding - basic | | | 40,738 | 40,738 | ||||
| | | | | | | | |
SOURCE AmBase Corporation