Latest Ambase Corp (ABCP) Headlines
AmBase Reports Results For Three Months And Nine Months Ended September 30, 2013
PR Newswire - Wed Nov 13, 12:52PM CST
AmBase Corporation (the "Company" or "AmBase") (OTC: ABCP) announced today a net loss of $1,498,000 or $0.04 per share and $3,598,000 or $0.08 per share for the three months and nine months ended September 30, 2013, respectively.
Court of Claims Opinion On Tax Gross-Up
PR Newswire - Tue Aug 20, 11:57AM CDT
As previously announced, on May 3, 2013, AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) filed a Rule 60(b) Motion with the Court of Federal Claims seeking a tax gross-up from the United States for the $500,729, plus applicable tax consequences relative to the reimbursement of this amount. The Company sought to: (i) reserve the right to seek a tax gross-up for any additional federal tax which could be owed as a result of additional taxes which may be imposed by the IRS upon tax return review or otherwise; and (ii) reserve the right to seek the economic value for deductions utilized against the Settlement Award. The DOJ, on behalf of the United States, filed their response brief in May 2013, and the Company filed its reply brief in June 2013. Subsequently, Senior Judge Smith held oral argument on June 12, 2013 and after the hearing filed an order directing the United States to pay AmBase $500,729 as reimbursement for 2012 federal income taxes paid by AmBase as provided for in the Settlement Agreement.
AmBase Reports Second Quarter And Six Months Results
PR Newswire - Tue Aug 13, 12:47PM CDT
AmBase Corporation (the "Company" or "AmBase") (OTC: ABCP) announced today a net loss of $1,383,000 or $0.03 per share and $2,100,000 or $0.05 per share for the second quarter and six months ended June 30, 2013, respectively.
OTC Daily Alert Stock Watch - AmBase Corp. (OTCQB: ABCP)
WorldStockWire - Tue Aug 13, 1:45AM CDT
OTC Daily Alert tracks stocks daily and is pleased to offer features on public companies. Investors can receive FREE Stock Alerts and company news and profiles by visiting OTC Daily Alert at the following: http://www.otcdailyalert.com
AmBase Corporation Announces Execution Of Joint Venture Agreement For Real Estate Development Project
PR Newswire - Fri Jun 21, 3:21PM CDT
On June 17, 2013, 111 West 57th Investment LLC ("Investment LLC"), a newly formed wholly owned subsidiary of AmBase Corporation (the "Company") (OTC: ABCP) entered into an Escrow Procedure Letter Agreement (the "Escrow Agreement") with 111 West 57th Sponsor LLC (the "Sponsor"), an entity affiliated with Michael Stern of JDS Development Group and Kevin Maloney of Property Markets Group, Inc., whereby Investment LLC deposited $56,000,000 (the "Investment") into escrow, representing an initial investment in a joint venture pursuant to which Investment LLC will participate in a real estate development project to purchase, develop, and operate the real property located at 105 through 111 West 57th Street in New York, New York (the "Property"). The interest of Investment LLC in the Property in consideration for such investment shall be governed by that certain Amended and Restated Limited Liability Company Agreement (the "JV Agreement") of 111 West 57th JV LLC (the "Joint Venture"). Pursuant to the JV Agreement
AmBase Announces Judge Smith Ruling Regarding Federal Tax Reimbursement Pursuant To Settlement Agreement
PR Newswire - Fri Jun 14, 12:24PM CDT
AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced that pursuant to Senior Judge Smith's order filed June 12, 2013, on the Company's Rule 60(b) Motion as filed with the Court of Federal Claims, the United States has been directed to pay AmBase $500,729 as reimbursement for 2012 federal income taxes paid by AmBase as provided for in the Settlement Agreement.
AmBase Reports First Quarter Results
PR Newswire - Tue May 14, 1:08PM CDT
AmBase Corporation (OTC: ABCP) ("AmBase" or the "Company") announced today a net loss of $717,000 or $0.02 per share for the three months ended March 31, 2013.
AmBase Reports Full Year Results
PR Newswire - Thu Mar 28, 3:21PM CDT
AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced today net income of $145,929,000 or $3.37 per share for the full year ended December 31, 2012.
AmBase Reports Results For Three Months And Nine Months Ended September 30, 2013
PR Newswire - Wed Nov 13, 12:52PM CST
AmBase Corporation (the "Company" or "AmBase") (OTC: ABCP) announced today a net loss of $1,498,000 or $0.04 per share and $3,598,000 or $0.08 per share for the three months and nine months ended September 30, 2013, respectively.
Court of Claims Opinion On Tax Gross-Up
PR Newswire - Tue Aug 20, 11:57AM CDT
As previously announced, on May 3, 2013, AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) filed a Rule 60(b) Motion with the Court of Federal Claims seeking a tax gross-up from the United States for the $500,729, plus applicable tax consequences relative to the reimbursement of this amount. The Company sought to: (i) reserve the right to seek a tax gross-up for any additional federal tax which could be owed as a result of additional taxes which may be imposed by the IRS upon tax return review or otherwise; and (ii) reserve the right to seek the economic value for deductions utilized against the Settlement Award. The DOJ, on behalf of the United States, filed their response brief in May 2013, and the Company filed its reply brief in June 2013. Subsequently, Senior Judge Smith held oral argument on June 12, 2013 and after the hearing filed an order directing the United States to pay AmBase $500,729 as reimbursement for 2012 federal income taxes paid by AmBase as provided for in the Settlement Agreement.
AmBase Reports Second Quarter And Six Months Results
PR Newswire - Tue Aug 13, 12:47PM CDT
AmBase Corporation (the "Company" or "AmBase") (OTC: ABCP) announced today a net loss of $1,383,000 or $0.03 per share and $2,100,000 or $0.05 per share for the second quarter and six months ended June 30, 2013, respectively.
OTC Daily Alert Stock Watch - AmBase Corp. (OTCQB: ABCP)
WorldStockWire - Tue Aug 13, 1:45AM CDT
OTC Daily Alert tracks stocks daily and is pleased to offer features on public companies. Investors can receive FREE Stock Alerts and company news and profiles by visiting OTC Daily Alert at the following: http://www.otcdailyalert.com
AmBase Corporation Announces Execution Of Joint Venture Agreement For Real Estate Development Project
PR Newswire - Fri Jun 21, 3:21PM CDT
On June 17, 2013, 111 West 57th Investment LLC ("Investment LLC"), a newly formed wholly owned subsidiary of AmBase Corporation (the "Company") (OTC: ABCP) entered into an Escrow Procedure Letter Agreement (the "Escrow Agreement") with 111 West 57th Sponsor LLC (the "Sponsor"), an entity affiliated with Michael Stern of JDS Development Group and Kevin Maloney of Property Markets Group, Inc., whereby Investment LLC deposited $56,000,000 (the "Investment") into escrow, representing an initial investment in a joint venture pursuant to which Investment LLC will participate in a real estate development project to purchase, develop, and operate the real property located at 105 through 111 West 57th Street in New York, New York (the "Property"). The interest of Investment LLC in the Property in consideration for such investment shall be governed by that certain Amended and Restated Limited Liability Company Agreement (the "JV Agreement") of 111 West 57th JV LLC (the "Joint Venture"). Pursuant to the JV Agreement
AmBase Announces Judge Smith Ruling Regarding Federal Tax Reimbursement Pursuant To Settlement Agreement
PR Newswire - Fri Jun 14, 12:24PM CDT
AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced that pursuant to Senior Judge Smith's order filed June 12, 2013, on the Company's Rule 60(b) Motion as filed with the Court of Federal Claims, the United States has been directed to pay AmBase $500,729 as reimbursement for 2012 federal income taxes paid by AmBase as provided for in the Settlement Agreement.
AmBase Reports First Quarter Results
PR Newswire - Tue May 14, 1:08PM CDT
AmBase Corporation (OTC: ABCP) ("AmBase" or the "Company") announced today a net loss of $717,000 or $0.02 per share for the three months ended March 31, 2013.
AmBase Reports Full Year Results
PR Newswire - Thu Mar 28, 3:21PM CDT
AmBase Corporation ("AmBase" or the "Company") (OTC: ABCP) announced today net income of $145,929,000 or $3.37 per share for the full year ended December 31, 2012.
