Ore Holdings, Inc. Posts Financial Results for the Three and Twelve Months Ended December 31, 2016

ORE HOLDINGS INC.
Consolidated Condensed Statements of Operations
For the Three and Twelve Months Ended December 31, 2016 and 2015
(in thousands, except per share data)

Three Months Ended

Twelve  Months Ended

December 31,

December 31, 

2016

2015

2016

2015

Revenue

$          -

$          -

$          -

$            -

Expenses

General and administrative

13

38

88

271

Management fees

60

60

240

240

    Total expenses

73

98

328

511

    Loss from operations

(73)

(98)

(328)

(511)

Other (expense) income

(Loss) income from equity investment

(458)

-

-

(862)

Realized gain on sale of marketable securities

-

-

42

214

Interest income, net

-

2

7

21

Other expenses

(17)

-

-

-

    Total other (expense) income

(475)

2

49

(627)

    Net loss before income tax expense

(548)

(96)

(279)

(1,138)

Income tax expense

(11)

-

(11)

-

NET LOSS

$   (559)

$     (96)

$   (290)

$  (1,138)

Basic and diluted net income (loss) per share

$  (0.01)

$  (0.00)

$  (0.01)

$    (0.02)

48,873

48,873

48,873

48,873

 ORE HOLDINGS INC.
Consolidated Balance Sheets
as of December 31, 2016 and December 31, 2015
(in thousands, except share data)

December 31,

December 31,

2016

2015

ASSETS

Current assets:

Cash and cash equivalents

$               116

$               268

Marketable securities available for sale

-

48

Prepaid expenses

13

10

    Total current assets

129

326

Long-term due from affiliates, net of investment basis

-

-

    Total assets

$               129

$               326

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$               116

$                 23

Other accrued expenses

33

42

    Total current liabilities

149

65

Stockholders' deficit:

Preferred stock, $.01 par value; 2,000,000 shares authorized; 1,005,228 shares issued and  outstanding for both dates presented

10

10

Common stock, $.01 par value; 15,000,000 shares authorized; 8,663,519 shares issued and  outstanding for both dates presented

87

87

Additional paid-in-capital

392,427

392,427

Accumulated other comprehensive loss

-

(10)

Accumulated deficit

(392,544)

(392,253)

Total stockholders' equity

(20)

261

Total liabilities and stockholders' equity

$               129

$               326