Tuxis Corporation Announces Second Quarter 2022 Financial Results

Rhea-AI Summary

Tuxis Corporation (TUXS) reported a net loss of $108,518, or $0.09 per diluted share, for Q2 2022, a decline from a net income of $84,437, or $0.07 per diluted share, in Q2 2021. For the first half of 2022, the company recorded a net loss of $255,790, or $0.21 per diluted share, compared to a net income of $237,661, or $0.19 per share, in the same period last year. As of June 30, 2022, Tuxis's book value per share stood at $6.03, calculated from shareholders' equity of $7,475,747 divided by shares outstanding.

Positive

• None.

Negative

• Net loss of $108,518 in Q2 2022 versus net income of $84,437 in Q2 2021.
• Net loss of $255,790 for the first half of 2022 compared to net income of $237,661 in the first half of 2021.

MILLBROOK, NY / ACCESSWIRE / August 12, 2022 / Tuxis Corporation (Stock Symbol:TUXS) ("Tuxis" or the "Company") today reported its financial results for the second quarter ended June 30, 2022.

The Company recorded a net loss of $108,518 or $0.09 per diluted share for the three months ended June 30, 2022, compared to net income of $84,437 or $0.07 per diluted share for the three months ended June 30, 2021. The Company recorded a net loss of $255,790 or $0.21 per diluted share for the six months ended June 30, 2022, compared to net income of $237,661 or $0.19 per share for the six months ended June 30, 2021.

The Company's book value per share at June 30, 2022, was $6.03 (shareholders' equity of $7,475,747 divided by 1,240,038 shares issued and outstanding).

The limited information above in this press release is not adequate for making an informed investment judgment, and we urge stockholders and investors to read the Company's unaudited quarterly report for the quarterly period ended June 30, 2022, which is available at www.Tuxis.com, appended to the copy of this press release, and at www.otcmarkets.com under the Company's stock symbol.

About Tuxis Corporation

The objective of Tuxis Corporation, a holding company, is to increase value over time for the benefit of its shareholders. The Company engages through subsidiaries primarily in real estate development and management. To learn more about Tuxis Corporation 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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FAQ

What were Tuxis Corporation's earnings results for Q2 2022?

Tuxis reported a net loss of $108,518 or $0.09 per diluted share for Q2 2022.

How did Tuxis Corporation perform in the first half of 2022?

In the first half of 2022, Tuxis recorded a net loss of $255,790, or $0.21 per diluted share.

What is the book value per share of Tuxis Corporation as of June 30, 2022?

The book value per share of Tuxis was $6.03 as of June 30, 2022.