Tuxis Corporation Announces 2016 Financial Results

NEW YORK, NY / ACCESSWIRE / May 23, 2017 / Tuxis Corporation (OTC PINK: TUXS) (the “Company”) today reported its financial results for the year ended December 31, 2016.

The Company recorded net income of $2,534,697, or $2.09 per basic share, or $2.07 per diluted share, for the year ended December 31, 2016, compared to a net loss of $81,190, or $0.07 per share, for the year ended December 31, 2015. Revenue from rental income and fees was $577,676 for the year ended December 31, 2016, compared to $557,006 for the year ended December 31, 2015. The Company recorded a gain of $2,945,030 on the sale of its self storage and other properties for the year ended December 31, 2016.

The Company’s book value per share at December 31, 2016 was $7.06 (shareholders’ equity of $8,570,454 divided by 1,213,487 shares issued and outstanding).

The Company’s unaudited balance sheets, statements of income, and statements of cash flows as of and for the year ended December 31, 2016, including a reconciliation of net loss to adjusted EBITDA, are appended to the copy of this press release on www.tuxis.com.

About Tuxis Corporation

Tuxis Corporation is engaged in real estate development. To learn more about the Company, 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, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions, 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. 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 and it believes there is a reasonable basis for them, 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.

Contact:

Thomas O’Malley
Chief Financial Officer
1-212-785-0900, ext. 267
tomalley@tuxis.com
www.tuxis.com

SOURCE: Tuxis Corporation

ReleaseID: 464020