STOCK TITAN

AMBASE REPORTS RESULTS FOR THE THIRD QUARTER and NINE MONTHS ENDED SEPTEMBER 30, 2023

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Negative)
Tags
Rhea-AI Summary
AmBase Corporation (ABCP) reports a net loss of $1,399,000 for Q3 2023, with a loss of $3,888,000 for the nine months ended September 30, 2023. This represents an increase from the net loss of $717,000 and $2,757,000 for the same periods in 2022. The press release provides an overview of the company's financial performance, including key figures and comparisons for investors and traders.
Positive
  • The press release provides clear financial data for both Q3 2023 and the nine months ended September 30, 2023, allowing investors to assess the company's performance.
  • The comparison with the same periods in 2022 provides valuable insight into the company's year-over-year financial performance, aiding investors in making informed decisions.
Negative
  • None.

CORAL SPRINGS, Fla., Nov. 9, 2023 /PRNewswire/ -- AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced today a net loss of $1,399,000 or $0.03 per share for the three months ended September 30, 2023 and a net loss of $3,888,000 or $0.10 per share for the nine months ended September 30, 2023.

For the three months and nine months ended September 30, 2022, the Company recorded a net loss of $717,000 or $0.02 per share and a net loss of $2,757,000 or $0.07 per share, respectiviely.

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 September 30, 2023, 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 Form 10-K for the annual period December 31, 2022, filed with the Securities and Exchange Commission.

 

AmBase Corporation

Summary Results

(in thousands, except per share data)















Three Months

Nine Months






2023

2022

2023

2022

Operating expenses



$            1,301

$       721

$           3,740

$            2,761

Operating loss




(1,301)

(721)

(3,740)

(2,761)

Interest income




1

4

2

5

Interest (expense)



(99)

-

(150)

-

Income (loss) before income taxes


(1,399)

(717)

(3,888)

(2,756)

Income tax expense (benefit)


-

-

-

1

Net income (loss)



$          (1,399)

$     (717)

$          (3,888)

$          (2,757)










Net income (loss) per common share - basic

$            (0.03)

$     (0.02)

$            (0.10)

$             (0.07)










Weighted average common shares outstanding - basic

40,738

40,738

40,738

40,738

 

Cision View original content:https://www.prnewswire.com/news-releases/ambase-reports-results-for-the-third-quarter-and-nine-months-ended-september-30-2023-301983814.html

SOURCE AmBase Corporation

FAQ

What is AmBase Corporation's net loss for Q3 2023?

AmBase Corporation reported a net loss of $1,399,000 for the three months ended September 30, 2023.

What is the net loss for the nine months ended September 30, 2023?

The net loss for the nine months ended September 30, 2023, is $3,888,000.

How does the 2023 net loss compare to 2022?

The 2023 net loss represents an increase from the same periods in 2022, indicating a change in the company's financial performance.

What is the ticker symbol for AmBase Corporation?

The ticker symbol for AmBase Corporation is ABCP.

AmBase Corporation

OTC:ABCP

ABCP Rankings

ABCP Latest News

ABCP Stock Data

21.66M
23.37M
72.57%
2.71%
Lessors of Nonresidential Buildings (except Miniwarehouses)
Real Estate and Rental and Leasing
United States of America
Los Angeles