KENT Kent Financial Services, Inc. (MM)

KENT FINANCIAL SERVICES, INC. (the �Company�) (NASDAQ - KENT) recorded a net loss of $546,000 or $.19 per share for the year ended December 31, 2006, compared to a net loss of $181,000 or $.06 per share for the year ended December 31, 2005. Total revenues for the year ended December 31, 2006 were $1,135,000, compared to $894,000 for the year ended December 31, 2005. The Company has 2,795,580 shares outstanding. This Press Release contains forward-looking statements which may involve known and unknown risks, uncertainties and other factors that may cause the Company�s actual results and performance in future periods to be materially different from any future results or performance suggested by these statements. Kent cautions investors not to place undue reliance on forward-looking statements, which speak only to management�s expectations on this date. The per share earnings in the text of this news release are fully diluted earnings per share. KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2006 AND 2005 (in thousands, except per share amounts) � Year Ended December 31, 2006� 2005� Revenues: Seminar fees $ 378� $ 61� Management fee income 12� Interest and dividends 619� 403� Investing gains (losses) 28� (148) Sale of patent rights 50� Gain on sale of General Devices 301� Other income 60� 265� � Total revenues 1,135� 894� � Expenses: General and administrative 1,766� 1,169� � Loss before income taxes, minority interest and extraordinary item (631) (275) Provision for income taxes 14� 22� Loss before minority interest and extraordinary item (645) (297) Minority interest in subsidiaries losses 71� 103� � Loss before extraordinary item (574) (194) Extraordinary gain due to purchase of subsidiary stock 28� 13� � Net loss $ (546) $ (181) � Basic and diluted net loss per common share: Loss per share before extraordinary item $ (0.20) $ (0.07) Extraordinary gain 0.01� 0.01� � Net loss per share $ (0.19) $ (0.06) � Weighted average number of common shares outstanding (in 000's) 2,802� 2,826� KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2006 (in thousands, except share and per share amounts) � ASSETS � Cash and cash equivalents $ 167� Short-term investments 12,900� Securities owned 149� Accounts receivable 75� Property and equipment 35� Goodwill 90� Other assets 89� � Total assets $ 13,505� � LIABILITIES AND STOCKHOLDERS� EQUITY � Liabilities $ 1,032� Minority interest in subsidiaries 5,233� Stockholders' equity 7,240� � Total liabilities and stockholders' equity $ 13,505�