Reno, NV – May 11, 2015 – CIBL, Inc. (“CIBL” or “the Company”; OTC Pink®: CIBY) announces results for the first quarter of 2015. See Attachments A and B.
At March 31, 2015, CIBL held $24.4 million in liquid assets or $1,355 per share. In addition, the company owns 164,307 common shares of ICTC Group, Inc. (“ICTC”; OTC Pink ®: ICTG) which represents 42.8% of the total outstanding; and 10,000 shares of Solix Inc. (a private outsourcing firm that provides, among other services, billing and collection for the telecommunications industry).
The Board of Directors of CIBL continues to evaluate strategic alternatives for the company. CIBL has paid, based on the sale of our broadcasting properties and the New Mexico cellular interests, $20 million in cash taxes over the last several years. We are seeking opportunities to invest our resources, including acquiring businesses either in broadcasting or communications or in other industries where we perceive value. We are also considering the use of creative financing vehicles to support such efforts.
Net Loss Per Share
During the first quarter of 2015, the net loss attributable to CIBL was $31,000, or $1.72 per share as compared to a loss of $13,000, or $0.66 per share in the first quarter of 2014. The net losses primarily consist of net after- tax cost of CIBL’s corporate activities of $68,000, or $3.78 per share, in 2015 and $63,000, or $3.20 per share, in 2014, offset by net income from CIBL’s ownership in ICTC of $37,000, or $2.06 per share, in 2015 and $50,000, or $2.54 per share, in 2014.
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This release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, www.ciblinc.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful or that financial targets will be met, and such information is subject to uncertainties, risks and inaccuracies, which could be material.
CIBL is a holding company with interests in telecommunications operations. CIBL is listed on OTC Pink® under the symbol CIBY.
Contact: Robert E. Dolan
CIBL has retained LICT Corporation to provide it with administrative and management services (775) 664-3700