Tuxis Corporation Announces Second Quarter 2007 Financial Results
NEW YORK, NY--(Marketwire - September 25, 2007) - Tuxis Corporation (PINKSHEETS: TUXS) announced
today its financial results for the second quarter ended June 30, 2007. The
Company reported a net loss in the second quarter of 2007 of $114,673
compared to a net loss of $149,670 for the same quarter in 2006. The net
loss per share was $0.12 for the second quarter of 2007 compared to a net
loss per share of $0.15 for the second quarter of 2006. For the six months
ended June 30, 2007, the Company reported a net loss of $246,536 compared
to a net loss of $330,566 for the six months ended June 30, 2006. The net
loss per share was $0.25 for the first half of 2007 compared to a net loss
per share of $0.34 for the first half of 2006. The Company attributes the
improvement in its 2007 results compared to 2006 to lower total expenses.
The decrease in total expenses is a result of no longer having to bear both
the direct and indirect expenses associated with being listed on the
American Stock Exchange and having to prepare and file periodic reports
with the Securities and Exchange Commission. The Company delisted and
deregistered its common stock on March 8, 2007.
As previously announced, the Company acquired Heritage Park Self
Storage, located at 6 Heritage Park Road, Clinton, Connecticut for $1.5
million cash. Heritage Park Self Storage is a 177 unit 25,705 square foot
facility with 3,500 square feet of office and warehouse space and a cell
tower on 1.93 acres. It is located in an industrial park approximately one
mile from Exit 64 on I-95. The self-storage facility, which offers a mix of
standard and climate control units, has been operating since 1985. The
entire facility is paved, fenced, and lighted. The facility is secured by
an electronic gate with key pad access. The Company intends to evaluate
opportunities to develop and acquire other self-storage facilities.
The Company's unaudited balance sheet, statements of income, and statements
of cash flows as of and for the second quarter and six months ended June
30, 2007 are appended to the copy of this press release on www.tuxis.com.
Tuxis is a real estate development and service company. To learn more about
Tuxis Corporation, including Rule 15c2-11 information, please visit
www.tuxis.com.
This release contains certain "forward looking statements" made pursuant to
the "safe harbor" provisions of the Private Securities Litigation Reform
Act of 1995. These statements involve known and unknown risks,
uncertainties and other factors, many of which are beyond the control of
Tuxis Corporation, which may cause the Company's actual results to be
materially different from those expressed or implied by such statements.
The forward looking statements made herein are only made as of the date of
this release, and the Company undertakes no obligation to publicly update
such forward looking statements to reflect subsequent events or
circumstances.