SOURCE: Tuxis Corporation

September 25, 2007 12:06 ET

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.

Contact Information

  • Contact:
    Thomas O'Malley
    Chief Financial Officer
    1-212-785-9300, ext. 267
    Email Contact