Business
CIBL, Inc. Reports Preliminary (Unaudited) Fourth Quarter and Full Year 2023 Operating Results
CIBL, Inc. Reports Preliminary (Unaudited) Fourth Quarter and Full Year 2023 Operating Results.
About this update from Cibl, Inc.
[{"type":"text","content":"\nCIBL, Inc. (“CIBL” or the “Company”; OTC Pink ®: CIBY) announces preliminary unaudited results for the quarter and year ending December 31, 2023. CIBL’s operations consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire (“New Hampshire Operations”).\n\n\nFor the three months ended December 31, 2023, the New Hampshire Operations generated $481,000 in operating revenues, an 5.9% increase from the $455,000 reported for the quarter ended December 31, 2022. EBITDA from the New Hampshire Operations was $138,000 in the 2023 period as compared to $113,000 in 2022.\n\n\nOperating revenues for the New Hampshire Operations generated $1.909 million for the year ending December 31, 2023, a 2.4% increase from the $1.863 million reported for the year ending December 31, 2022. EBITDA from the New Hampshire Operations totaled $506 million for the year ending December 31, 2023 as compared to $452 million in the prior year.\n\n\nOn December 31, 2023, liquid investments were approximately $22.7 million or $1,794 per share, based on the 12,668 shares outstanding at year end December 31, 2023.\n\n\nDuring 2023, the Company repurchased 193 of its shares at an average price of $1,789 per share. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 13,748 of its shares for $19.0 million, or an average price of $1,383 per share. Outstanding shares increased from 12,561 to 12,668 due to 300 shares issued for Brick Skirt (see below) less 193 shares repurchased during 2023.\n\n\nOn August 31, 2023, CIBL received 5,700 shares of MachTen, Inc. (OTC Pink: MACT) as a spin-off distribution from our holdings of LICT Corporation shares.\n\n\nOn September 27, 2023, the Company announced, subject to regulatory approval, it will acquire 450 shares of Brick Skirt Holdings, Inc. (“Brick Skirt”), representing a 20% interest thereof, from LICT Corporation (“LICT”), at an aggregate purchase price of $1,500,000. 40% of this interest was made in the third quarter of 2023, by issuing 300 of our shares to LICT, and the remaining interest is expected to be acquired in the first half of 2024. Brick Skirt, through subsidiaries, provides broadband and communication services to sections in western New York s...