Welcome to our dedicated page for Ambase news (Ticker: ABCP), a resource for investors and traders seeking the latest updates and insights on Ambase stock.
AmBase Corporation (ABCP) is a real estate and rental and leasing sector company whose public communications focus heavily on funding and litigation related to its interest in the 111 West 57th Property. On this news page, readers can review AmBase’s press releases and other coverage that summarize its financial results, funding activities, and key corporate developments.
The company regularly issues earnings-related press releases reporting net income or loss and basic earnings per share for quarterly and annual periods. These releases typically direct investors to AmBase’s Form 10-K and Form 10-Q filings with the Securities and Exchange Commission for more detailed information on its financial condition and results of operations. They also reiterate that the company’s financial statements contain a qualification about its ability to continue as a going concern.
News items for ABCP also describe capital-raising efforts, such as private placement equity offerings of common stock to existing stockholders of record under exemptions from registration under the Securities Act of 1933. These announcements outline the basic terms of such offerings, including eligibility requirements for accredited investors and the intended use of proceeds, which the company states includes continuing operations, funding litigation related to the 111 West 57th Property, and repaying existing obligations.
In addition, AmBase’s disclosures highlight its consideration of litigation funding agreements with third-party funders and loans from management through senior promissory notes for working capital. Together, these topics form the core of the company-specific news that investors and researchers can follow for ABCP, making this page a useful entry point for tracking AmBase’s reported results and funding strategies over time.
AmBase Corporation (OTC: ABCP) reported a net loss of $1,635,000 or $0.04 per share for the three months ending March 31, 2021, compared to a net loss of $1,418,000 or $0.03 per share in the same period of 2020. Operating expenses increased from $1,419,000 in 2020 to $1,635,000 in 2021. The Company’s operating loss for the first quarter of 2021 was $1,635,000, similar to the previous year's $1,419,000. AmBase cautioned that forward-looking statements may involve risks that could significantly affect actual results.
AmBase Corporation (OTC: ABCP) reported a net loss of $5,604,000 or $0.14 per share for the year ending December 31, 2020, an increase from a $4,926,000 loss or $0.12 per share in 2019. The company's operating expenses rose to $5,640,000, up from $4,991,000 in 2019. A record date of April 14, 2021 has been set for the upcoming 2021 Annual Meeting, scheduled for June 3, 2021. Investors are advised to consider risks and uncertainties highlighted in AmBase's Annual Report on Form 10-K.