CIBL, Inc. Reports (Unaudited) First Quarter Operating Results
CIBL, Inc. ("CIBL" or the "Company"; OTC Pink ®: CIBY) announces that at March 31, 2023, it's investment included $22.7 million in liquid assets or $1,813 per share, based on the 12,524 shares outstanding at that date, 28 shares of LICT Corporation common stock and 10,000 shares of Solix Inc., a private outsourcing firm that provides, among other services, billing and collection for the telecommunications industry. In addition, 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").
For the three months ended March 31, 2023, the New Hampshire operations generated $469,000 in operating revenues, a 5.9% increase from the $443,000 reported for the quarter ended March 31, 2022. EBITDA from the New Hampshire operations was $135,000 in the 2023 period as compared to $115,000 in 2022.
During 2023, the Company acquired 49 of its shares at an average price of $1,783 per share. We now have 12,512 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 13,604 of its shares for $18.8 million, or an average price of $1,382 per share.
CIBL's Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value. As noted above, it has the liquidity to effectuate transactions if we find them attractive and appropriate for our Company.
To the extent 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. Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate.
CIBL is a holding company with interests in broadband operations. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: www.ciblinc.com.
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