$ABCP
AmBase Corp

2019 Form 10-K Financial Statement

#000114036120006793 Filed on March 25, 2020

View on sec.gov

Income Statement

Concept 2019 2018 Q4 2018
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.892M $757.0K $4.223M
YoY Change 15.84% -5.38% 2.55%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $0.00 $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $4.991M $781.0K $4.324M
YoY Change 15.43% -2.38% 0.42%
Operating Profit -$4.991M -$4.324M
YoY Change 15.43%
Interest Expense $0.00 $0.00 $10.00K
YoY Change -100.0% -100.02%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$4.955M -$781.0K -$1.051M
YoY Change 371.46% -2.38% -98.46%
Income Tax -$29.00K -$1.392M -$1.386M
% Of Pretax Income
Net Earnings -$4.926M $611.0K $335.0K
YoY Change -1570.45% -96.83% -100.7%
Net Earnings / Revenue
Basic Earnings Per Share -$0.12 $0.01
Diluted Earnings Per Share -$120.9K $15.00K $8.223K
COMMON SHARES
Basic Shares Outstanding 40.74M 40.74M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 2018 Q4 2018
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.851M $237.0K $237.0K
YoY Change 1102.95% 238.57%
Cash & Equivalents $2.851M $237.0K $237.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.851M $237.0K $237.0K
YoY Change 1102.95% 238.57%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $0.00
YoY Change -100.0% -100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.370M $10.74M $10.74M
YoY Change -50.0% -46.3% -46.54%
Total Long-Term Assets $10.77M $21.52M $21.52M
YoY Change -49.93% -1.34%
TOTAL ASSETS
Total Short-Term Assets $2.851M $237.0K $237.0K
Total Long-Term Assets $10.77M $21.52M $21.52M
Total Assets $13.63M $21.75M $21.75M
YoY Change -37.36% -1.12% -0.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $414.0K $414.0K $414.0K
YoY Change 0.0% -2.82%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $414.0K $414.0K $414.0K
YoY Change 0.0% -79.3% -84.79%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $3.202M $3.202M
YoY Change -100.0% 220.2% 136.48%
Total Long-Term Liabilities $0.00 $3.202M $3.202M
YoY Change -100.0% 220.2% 136.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $414.0K $414.0K $414.0K
Total Long-Term Liabilities $0.00 $3.202M $3.202M
Total Liabilities $414.0K $414.0K $3.616M
YoY Change -88.55% -89.65% -11.29%
SHAREHOLDERS EQUITY
Retained Earnings -$525.5M
YoY Change
Common Stock $548.8M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.168M
YoY Change
Treasury Stock Shares $5.672M
Shareholders Equity $13.21M $18.14M $18.14M
YoY Change
Total Liabilities & Shareholders Equity $13.63M $21.75M $21.75M
YoY Change -37.36% -1.12% -0.57%

Cashflow Statement

Concept 2019 2018 Q4 2018
OPERATING ACTIVITIES
Net Income -$4.926M $611.0K $335.0K
YoY Change -1570.45% -96.83% -100.7%
Depreciation, Depletion And Amortization $0.00 $0.00
YoY Change -100.0%
Cash From Operating Activities $5.816M -$775.0K -$4.295M
YoY Change -235.41% -48.33% 3.1%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $4.910M
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $4.910M
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -3.202M 400.0K -448.0K
YoY Change 614.73% -73.33% -112.27%
NET CHANGE
Cash From Operating Activities 5.816M -775.0K -4.295M
Cash From Investing Activities 0.000 0.000 4.910M
Cash From Financing Activities -3.202M 400.0K -448.0K
Net Change In Cash 2.614M -375.0K 167.0K
YoY Change 1465.27% -132.36%
FREE CASH FLOW
Cash From Operating Activities $5.816M -$775.0K -$4.295M
Capital Expenditures
Free Cash Flow
YoY Change

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ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsPercentOfMarketValueOfCommonStock
0.5
CY2019Q1 abcp Class Of Warrant Or Right Percent Of Securities That Would Be Issuable Upon Exercise Of Warrants Or Rights
ClassOfWarrantOrRightPercentOfSecuritiesThatWouldBeIssuableUponExerciseOfWarrantsOrRights
0.5
CY2019Q1 abcp Period After Accumulation Of Minimum Percentage Of Common Shares To Invoke Redemption Of Rights
PeriodAfterAccumulationOfMinimumPercentageOfCommonSharesToInvokeRedemptionOfRights
P10D
CY2019Q1 abcp Minimum Percentage Of Outstanding Common Shares For Tender Offer
MinimumPercentageOfOutstandingCommonSharesForTenderOffer
0.2
CY2019Q4 abcp Shares Acquired Pursuant To Repurchase Plan
SharesAcquiredPursuantToRepurchasePlan
6226000
CY2019Q1 abcp Minimum Percentage Of Outstanding Common Shares To Be Acquired
MinimumPercentageOfOutstandingCommonSharesToBeAcquired
0.25
CY2013Q1 abcp Amount Paid For Federal Income Taxes Attributable To Alternative Minimum Tax Rate Resulting From Sgw2012 Settlement Agreement
AmountPaidForFederalIncomeTaxesAttributableToAlternativeMinimumTaxRateResultingFromSGW2012SettlementAgreement
501000
CY2019 abcp Effective Income Tax Rate Reconciliation Deferred True Ups
EffectiveIncomeTaxRateReconciliationDeferredTrueUps
0
CY2018 abcp Effective Income Tax Rate Reconciliation Deferred True Ups
EffectiveIncomeTaxRateReconciliationDeferredTrueUps
-126000
CY2018 abcp Income Tax Reconciliation Permanent Items Tax Credits And Other Adjustments
IncomeTaxReconciliationPermanentItemsTaxCreditsAndOtherAdjustments
118000
CY2019 abcp Income Tax Reconciliation Permanent Items Tax Credits And Other Adjustments
IncomeTaxReconciliationPermanentItemsTaxCreditsAndOtherAdjustments
-30000
CY2018 abcp Effective Income Tax Rate Reconciliation Alternative Minimum Tax Sequestration Reversal
EffectiveIncomeTaxRateReconciliationAlternativeMinimumTaxSequestrationReversal
-1391000
CY2019 abcp Effective Income Tax Rate Reconciliation Alternative Minimum Tax Sequestration Reversal
EffectiveIncomeTaxRateReconciliationAlternativeMinimumTaxSequestrationReversal
0
CY2018 abcp Effective Income Tax Rate Reconciliation Permanent Differences Tax Credits And Other Adjustments
EffectiveIncomeTaxRateReconciliationPermanentDifferencesTaxCreditsAndOtherAdjustments
0.112
CY2019 abcp Effective Income Tax Rate Reconciliation Permanent Differences Tax Credits And Other Adjustments
EffectiveIncomeTaxRateReconciliationPermanentDifferencesTaxCreditsAndOtherAdjustments
-0.006
CY2018 abcp Effective Income Tax Rate Reconciliation Alternative Minimum Tax Sequestration Reversal Percent
EffectiveIncomeTaxRateReconciliationAlternativeMinimumTaxSequestrationReversalPercent
1.324
CY2019 abcp Effective Income Tax Rate Reconciliation Alternative Minimum Tax Sequestration Reversal Percent
EffectiveIncomeTaxRateReconciliationAlternativeMinimumTaxSequestrationReversalPercent
0.000
CY2018 abcp Effective Income Tax Rate Reconciliation Deferred True Ups Percent
EffectiveIncomeTaxRateReconciliationDeferredTrueUpsPercent
0.120
CY2019 abcp Effective Income Tax Rate Reconciliation Deferred True Ups Percent
EffectiveIncomeTaxRateReconciliationDeferredTrueUpsPercent
0.000
CY2019 abcp Repayment Of Litigation Funding Agreement
RepaymentOfLitigationFundingAgreement
3672000
CY2018 abcp Repayment Of Litigation Funding Agreement
RepaymentOfLitigationFundingAgreement
0
CY2019 abcp Proceeds From Litigation Funding Agreement
ProceedsFromLitigationFundingAgreement
470000
CY2018 abcp Proceeds From Litigation Funding Agreement
ProceedsFromLitigationFundingAgreement
1848000
CY2014Q1 abcp Subordinated Participation Interest To Ceo
SubordinatedParticipationInterestToCeo
0.1
CY2014Q1 abcp Percentage Of Distribution On Company S Initial Investment To Be Received Prior To Ceo Receiving Percentage Distribution
PercentageOfDistributionOnCompanySInitialInvestmentToBeReceivedPriorToCEOReceivingPercentageDistribution
1.5
CY2019 abcp Equity Method Investment Description Of Distribution
EquityMethodInvestmentDescriptionOfDistribution
The JV Agreement and related operating agreements generally provide that all distributable cash shall be distributed as follows: (i) first, 100% to the members in proportion to their percentage interests until Investment LLC has received distributions yielding a 20% internal rate of return as calculated; (ii) second, 100% to the Sponsor as a return of (but not a return on) any additional capital contributions made by the Sponsor on account of manager overruns; and (iii) thereafter, (a) 50% to the members in proportion to their respective percentage interests at the time of such distribution, and (b) 50% to the Sponsor.
CY2019 abcp Valuation Of Shortfall Capital Contribution As Multiple Of Amount Actually Contributed
ValuationOfShortfallCapitalContributionAsMultipleOfAmountActuallyContributed
1.5

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