MACHTEN INC - MACT STOCK NEWS

MachTen Inc. (OTC: MACT) reported audited financial results for 2023 and an interim update for H1 2024. Key highlights include:

- 2023 revenue: $15.9 million, operating income: $6.1 million, net income: $4.3 million

- H1 2024 revenue: $8.4 million (up from $7.9 million in H1 2023), operating income: $2.9 million, net income: $1.7 million

- Significant investments in fiber-optic networks, with 100 miles built in 12 months ending June 2024

- Approved for a $20 million term loan from NCSC, expected to close in August 2024

- Participating in Enhanced-ACAM program and various broadband expansion grants

The company is transitioning from a small rural ILEC to a fiber-based regional communications provider, with ongoing capital investments in network expansion.

LICT reported a robust Q1 2024 with a 15.5% rise in revenue, hitting $33.5 million. EBITDA increased 30% to $14.7 million, compared to $11.5 million in Q1 2023. Earnings per share rose to $295 from $228. Capex surged to $16.4 million, driven by the E-ACAM program and grants. The E-ACAM program adds $14 million annually through 2038, totaling $37.2 million per year. The company was awarded $157.5 million in USDA ReConnect III and IV grants. LICT continues to expand its broadband services and 5G wireless installations. However, higher operating expenses and a $0.8 million decrease in other income due to interest expenses and unrealized losses on MachTen were noted.

MachTen, Inc. announced the launch of fiber-based broadband services in St. Ignace, Michigan. The project includes high-speed internet, advanced voice tech, and a TiVo-based video platform. The company plans to expand its fiber network to cover over 9,000 locations by the end of 2024. First-quarter revenues reached $4.4 million, showing growth from the previous year. MachTen is investing in its network and strategic markets, aiming to provide a complete communication bundle in northern Michigan.

CIBL, Inc. announces strong financial results for the quarter and year ending December 31, 2023, with revenue and EBITDA increases. The company repurchased shares and acquired interests in Brick Skirt Holdings, Inc. and MachTen, Inc. CIBL's Board of Directors is evaluating strategic alternatives for shareholder value creation.

CIBL, Inc. reports preliminary unaudited fourth quarter and full year 2023 operating results, showing revenue growth and strategic acquisitions. The company's EBITDA from New Hampshire Operations increased, with liquid investments at $22.7 million. CIBL repurchased shares and acquired a 20% interest in Brick Skirt Holdings, Inc. The Board of Directors is exploring strategic alternatives for shareholder value creation.

LICT Corporation reports unaudited financial results for the fourth quarter and full year of 2023. Total revenues increased slightly in the fourth quarter, driven by non-regulated revenues, while regulated revenues declined. EBITDA decreased due to higher operating expenses and a non-cash goodwill impairment charge. Full-year revenues saw a modest increase, with non-regulated revenues driving the growth. EBITDA declined, impacted by inflationary pressures and increased expenses. Shareholder Charitable Contribution Program continues, and the company is awaiting regulatory approval for an acquisition. LICT has accepted Enhanced ACAM and been awarded grants for capital expenditures. Strategic initiatives include the spin-off of MachTen and the sale of ownership in Brick Skirt Holding Company.

MachTen, Inc. (MACT) has filed Form 15 with the SEC to deregister its common stock, suspending obligations under the Exchange Act. The company anticipates its stock will continue to trade on the OTC Pink Marketplace. The decision was based on the costs of operating as a registered public company outweighing the benefits to shareholders. MachTen expects total revenue for 2023 to be approximately $16.0 million, with non-regulated revenue from broadband internet services increasing to $3.9 million.

LICT Corporation (OTC Pink: LICT) reports unaudited financial results for Q3 2023. Non-regulated revenues increased by 2.1% to $17.5 million, while regulated revenues decreased to $11.3 million. EBITDA was $9.4 million, down from $11.1 million in 2022. Other expenses increased to $0.6 million. LICT elected to participate in the FCC's E-ACAM program through 2038, with expected annual revenues of $37.2 million. The company has been awarded $157.5 million for USDA ReConnect III and IV grants. LICT continues to be an active participant in the FCC's Affordable Connectivity Program. The spin-off of MachTen is complete, with shareholders receiving 150 shares per LICT share. LICT closed on the acquisition of Manti Telephone in Utah and is actively working on expanding broadband facilities. The company is also continuing with the sale of its 20% ownership in Brick Skirt Holdings Company pending regulatory approval. LICT's Board of Directors has approved the continuation of its shareholder charitable contribution program, which was adopted in 2016.

MachTen, Inc. (MACT) Reports Strong 3rd Quarter Earnings and Plans for Future Growth. The press release highlights the company's financial performance, including regulated and non-regulated revenue, operating profit, net income, and expenses. It also discusses the company's spin-off from LICT, its focus on operating efficiencies, and significant opportunities for future growth. MachTen emphasizes its commitment to capital investments and strategic growth markets, including fiber-based broadband services in rural areas.