Tuxis Corporation Announces 2020 Financial Results
Tuxis Corporation (OTCPINK:TUXS) reported a net loss of $165,407 or $0.13 per diluted share for the year ended December 31, 2020, a significant decline from a net income of $811,845 or $0.66 per diluted share in 2019. The company’s book value per share at year-end stood at $6.59, based on shareholders' equity of $8,218,213. This financial downturn raises concerns for investors regarding the company's future performance in real estate development and management.
- None.
- Net loss of $165,407 for FY 2020 compared to a net income of $811,845 in FY 2019.
- Earnings per diluted share decreased from $0.66 in 2019 to $0.13 in 2020.
NEW YORK, NY / ACCESSWIRE / June 17, 2021 / Tuxis Corporation (OTCPINK:TUXS) (the "Company") today reported its financial results for the year ended December 31, 2020.
The Company recorded a net loss of
The Company's book value per share at December 31, 2020 was
The Company's unaudited balance sheets, statements of comprehensive income (loss), and statements of cash flows as of and for the year ended December 31, 2020 are appended to the copy of this press release on www.tuxis.com.
About Tuxis Corporation
Tuxis Corporation is a holding company that engages through subsidiaries primarily in real estate development and management. To learn more about Tuxis Corporation, including Rule 15c2-11 information, please visit www.tuxis.com.
Cautionary Note Regarding Forward-Looking Statements
Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning the Company's plans, including its plans as to the use of the proceeds from the sale, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, and other information that is not historical information. In some cases, forward-looking statements can be identified by terminology such as "believes," "expects," "estimates," "may," "will," "should," "anticipates" or "intends," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward-looking statements by the Company involve known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, which may cause the Company's actual results to be materially different from those expressed or implied by such statements, including the negative impacts from the continued spread of COVID-19 on the economy, the broader financial markets, the Company's financial condition, and results of operations and cash flows. The Company may also make additional forward-looking statements from time to time. All such subsequent forward-looking statements, whether written or oral, by the Company or on its behalf, are also expressly qualified by these cautionary statements. All forward-looking statements, including without limitation, the Company's examination of historical operating trends and estimates of future earnings, are based upon the Company's current expectations and various assumptions. The Company's expectations, beliefs and projections are expressed in good faith, but there can be no assurance that the Company's expectations, beliefs and projections will result or be achieved. All forward-looking statements apply only as of the date made. The Company undertakes no obligation to publicly update or revise forward-looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
The Company views book value per share, a non-GAAP financial measure, as an important indicator of financial performance. Presented in conjunction with other financial information, the combined presentation can enhance an investor's understanding of the Company's underlying financial condition and results from operations. The definition of book value as presented in this press release is shareholders' equity divided by currently issued and outstanding shares.
CONTACT:
Thomas O'Malley
Chief Financial Officer
1-212-785-0900, ext. 267
tomalley@tuxis.com
www.tuxis.com
SOURCE: Tuxis Corporation
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