Morgan Group Holding Co. Reports Annual Results
May 03 2024 - 4:35PM
Business Wire
- Revenues increased during 2023
- Book value per share of $2.07
- Company de-registered from Securities and Exchange Commission
in January 2024. We will continue to publish current
information.
Morgan Group Holding Co. (“MGHL” or the “Company”; OTC Pink®:
MGHL) reports audited financial results for the year ended December
31, 2023.
Audited Results – Full Year
Total revenues for the year ended December 31, 2023 increased by
$0.1 million to $2.1 million versus $2.0 million for the year ended
December 31, 2022 as commission and research revenues
increased.
Expenses in 2023 remained steady at $3.0 million versus $3.0
million in the prior year.
Net loss decreased by $0.1 to $0.8 million for the year ended
December 31, 2023 against $0.9 million for the year ended December
31, 2022.
EARNINGS PER SHARE – Net loss per share for the full year of
2023 were $1.41 per share as compared to $1.58 per share for the
prior year.
Full audited financial statements posted on company website:
morgangroupholdingco.com
About Morgan Group Holding Co.
Morgan Group Holding Co. was incorporated in November 2001.
After the consummation of the Merger with G.research , LLC
(“G.research”) in October 2019, we wholly own and operate
G.research, an institutional research and securities brokerage
business. G.research is a broker-dealer registered under the
Securities Exchange Act of 1934, as amended, and is a member of
FINRA. Our primary source of revenue is G.research’s securities
brokerage business. Through G.research, we also provide
institutional research services and also may act as an
underwriter.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release, which do not
present historical information, contain “forward-looking
statements” within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Forward-looking statements convey
our current expectations or forecasts of future events. You can
identify these statements because they do not relate strictly to
historical or current facts. They use words such as “anticipate,”
“estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and
other words and terms of similar meaning. They also appear in any
discussion of future operating or financial performance. In
particular, these include statements relating to future actions,
future performance of our products, expenses, the outcome of any
legal proceedings, and financial results. Although we believe that
we are basing our expectations and beliefs on reasonable
assumptions within the bounds of what we currently know about our
business and operations, the economy and other conditions, there
can be no assurance that our actual results will not differ
materially from what we expect or believe. Therefore, you should
proceed with caution in relying on any of these forward-looking
statements. They are neither statements of historical fact nor
guarantees or assurances of future performance.
Forward-looking statements involve a number of known and unknown
risks, uncertainties and other important factors, some of which are
listed below, that are difficult to predict and could cause actual
results and outcomes to differ materially from any future results
or outcomes expressed or implied by such forward-looking
statements. Some of the factors that could cause our actual results
to differ from our expectations or beliefs include a decline in the
securities markets that adversely affect our assets under
management, negative performance of our products, the failure to
perform as required under our investment management agreements, a
general downturn in the economy that negatively impacts our
operations. We also direct your attention to the more specific
discussions of these and other risks, uncertainties and other
important factors contained in our Annual Report and other public
filings. Other factors that could cause our actual results to
differ may emerge from time to time, and it is not possible for us
to predict all of them. We do not undertake to update publicly any
forward-looking statements if we subsequently learn that we are
unlikely to achieve our expectations whether as a result of new
information, future developments or otherwise, except as may be
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240503312438/en/
Joseph L Fernandez Chief Financial Officer (914) 921-5216
morgangroupholdingco.com