Business
Regency Affiliates, Inc. Announces Audited 2014 Financial Statements
Regency Affiliates, Inc. Announces Audited 2014 Financial Statements.
About this update from Regency Affiliates, Inc.
[{"type":"text","content":"\n\n\n\nRegency Affiliates, Inc. Announces Audited 2014 Financial Statements\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nRegency Affiliates, Inc. Announces Audited 2014 Financial Statements\nPR Newswire\nNEW YORK, July 17, 2015\n\n\n\nNEW YORK, July 17, 2015 /PRNewswire/ -- Regency Affiliates, Inc. (OTC-PINK: RAFI) (\"Regency\") today announced the release of its audited 2014 financial statements.\n\nManagement Comments \n\n\"We are pleased with the continued performance of our investments,\" commented Laurence Levy, Chairman of the Board of Directors and President of Regency. \"Further, we believe that the consistent cash flow and growth that we have seen in the recent past should continue in the future.  Our financial position continues to strengthen and this trend should enable us to increase our dividend in the near future.  We are particularly pleased to have passed the $37 million milestone in Shareholders' Equity.\" \n\n\"Our Security West investment represents a 50% indirect interest in real estate occupied by the United States Social Security Administration under a lease expiring in 2018. This lease has paid the mortgage on the property down from $98.5 million at the lease commencement on June 24, 2003, to $29.8 million as of July 15, 2015. We anticipate that the mortgage will be amortized by more than $6.5 million in 2015. Additionally, Regency owns an indirect 50% interest in Mobile Energy which owns and operates an energy facility located in Mobile, Alabama. The facility supplies co-generated steam and electricity for use in Kimberly-Clark's mill operations under a 15 year agreement signed in 2004. This investment currently generates in excess of $2.7 million of cash distributions per annum for Regency.\" \n\n\"We are continuing to review and evaluate further investment opportunities for Regency, and intend to grow the company by investing in other attractive long term assets that meet our business characteristics and valuation criteria. Our cash resources and value per share continue to grow based on our existing investments.\" \n\nAb...