KENT Kent Financial Services, Inc. (MM)

KENT FINANCIAL SERVICES, INC. (the �Company�) (NASDAQ - KENT) recorded a net loss of $551,000 or $.20 per share for the year ended December 31, 2007, compared to a net loss of $546,000 or $.19 per share for the year ended December 31, 2006. Total revenues for the year ended December 31, 2007 were $1,240,000, compared to $1,135,000 for the year ended December 31, 2006. The Company has 2,792,022 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 (in thousands, except per share amounts) � Year Ended December 31, 2007 2006 Revenues: Seminar fees $ 481 $ 378 Interest revenue 613 619 Investing gains 7 28 Sale of patent rights 50 Other income � 139 � � 60 � � Total revenues 1,240 1,135 � Expenses: General and administrative 1,805 1,766 Write off capitalized software costs 38 Write off goodwill � 90 � � � Total expenses 1,933 1,766 � Loss before income taxes, minority interest and extraordinary gain (693 ) (631 ) Provision for income tax benefit (expense) � (2 ) � (14 ) Loss before minority interest and extraordinary gain (695 ) (645 ) Minority interest in subsidiaries losses � 144 � � 71 � � Loss before extraordinary gain (551 ) (574 ) Extraordinary gain due to purchase of subsidiary stock � � 28 � � Net loss (551 ) (546 ) � Other comprehensive income (loss): Unrealized loss on available for sale securities � (3 ) � � Comprehensive loss $ (554 ) $ (546 ) � Basic and diluted net loss per common share: Loss per share before extraordinary gain $ (0.20 ) $ (0.20 ) Extraordinary gain � - � � 0.01 � � Net loss per share $ (0.20 ) $ (0.19 ) � Weighted average number of common shares outstanding (in 000's) � 2,794 � � 2,802 � KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2007 (in thousands, except share and per share amounts) � ASSETS � Cash and cash equivalents $ 135 Short-term investments 12,270 Securities owned 117 Accounts receivable 98 Property and equipment 6 Other assets � 80 � Total assets $ 12,706 � LIABILITIES AND STOCKHOLDERS� EQUITY � Liabilities $ 954 Minority interest in subsidiaries 5,083 Stockholders' equity � 6,669 � Total liabilities and stockholders' equity $ 12,706