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Business Wire
a day ago
- Business
- Business Wire
CIBL, Inc. Reports Second Quarter Operating Results
RENO, Nev.--(BUSINESS WIRE)--CIBL, Inc. ('CIBL' or the 'Company'; OTC Pink ®: CIBY), a holding company with interests in broadband operations in New Hampshire, reported its financial results for the quarter ended June 30, 2025. Revenues increased 4.1% to $529,000 in the second quarter of 2025 from $508,000 in the second quarter 2024 Earnings per share were $5.60 per share in the second quarter of 2025 compared to a loss per share of $5.22 in the second quarter 2024 Cash and investments, net of zero debt, were $20,452 as of June 30, 2025 Christopher Nossokoff joined CIBL as a mergers and acquisitions advisor to provide and accelerate our interest in non-organic growth Results from Operations Three Months Ended June 30, 2025 Revenues increased 4.1% to $529,000 in the second quarter 2025 from $508,000 in the second quarter 2024 due to increased service revenues from broadband, end-user terminals and voice over internet protocol. EBITDA from operations 1 decreased 21.3% to $118,000 in the second quarter 2025 compared to $150,000 in the second quarter 2024 due to less capitalized labor for plant under construction and switch replacements. Six Months Ended June 30, 2025 Revenues increased 7.9% to $1,053,000 for the six months ended June 30, 2025 from $976,000 for the six months ended June 30, 2024 due to new services, one-time equipment revenues and system upgrades. EBITDA from operations 1 decreased 16.8% to $242,000 for the six months ended June 30, 2025 from $291,000 for the six months ended June 30, 2024 due to the increase in revenues discussed above partially offset by less capitalized labor for plant under construction and switch replacements. _______________ 1 A reconciliation of non-GAAP financial measures to the most comparable GAAP measure is provided at the end of this press release. Expand Other Highlights Capital expenditures were $45,000 and $164,000 for the six months ended June 30, 2025, and 2024, respectively. During the six months ended June 30, 2025, the Company acquired 725 of its shares at an average price of $1,690 per share. As of June 30, 2025, CIBL has 11,541 shares outstanding. Since its spin-off from LICT Corporation in 2007, CIBL has repurchased 15,325 of its shares for $21.8 million, or an average price of $1,420 per share. CIBL's Board of Directors continues to evaluate a broad range of strategic alternatives for the company to create shareholder value. About CIBL, Inc. CIBL is a holding company with interests in broadband operations. CIBL's operations consist of Bretton Woods Telephone Company and World Surfer, Inc. providers of broadband and communication services in Northern New Hampshire. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: Cautionary Note Concerning Forward-Looking Statements To the extent this release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate. CIBL Inc. and Subsidiaries Attachment B Consolidated Balance Sheets (Unaudited) (USD in thousands, except share data) December 31, 2024 (Audited) June 30, 2024 Assets Current assets Cash and cash equivalents $ 1,594 $ 2,341 $ 1,348 Investments in United States Treasury Bills 16,550 16,598 18,841 Investment in available for sale equity securities 44 294 279 Investment in equity method limited partnership 1,706 1,645 1,595 Accounts receivable 253 284 221 Prepaid expenses 94 192 71 Materials and supplies 59 59 59 Income taxes receivable 37 - 43 Total current assets 20,337 21,413 22,457 Telecommunications, property, plant and equipment, net 907 958 771 Goodwill 337 337 337 Other intangibles, net 25 30 35 Other investments 1,708 1,636 700 Deferred income taxes 34 39 50 Other assets 59 59 71 Total assets $ 23,407 $ 24,472 $ 24,421 Liabilities Current liabilities Income taxes payable $ -- $ 14 $ -- Trade accounts payable and accrued expenses 142 138 124 Accrued liabilities 353 284 381 Total current liabilities 495 436 505 Other liabilities 46 46 59 Total liabilities 541 482 564 Equity Common stock, par value $.01, 30,000 shares authorized; 26,865, 26,865 and 26,415 issued; and 11,541, 12,266 and 12,399 outstanding -- -- -- Contributed capital 7,112 7,112 6,212 Retained earnings 37,545 37,416 37,147 Treasury stock, 15,325; 14,600; and 14,017 shares at cost (21,791 ) (20,538 ) (19,502 ) Total equity 22,866 23,990 23,857 Total liabilities and equity $ 23,407 $ 24,472 $ 24,421 Expand CIBL Inc. and Subsidiaries Attachment C EBTIDA Reconciliation (Unaudited) (USD in thousands, except share data) The following table is a reconciliation of EBITDA from operations to Net income (loss): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net income (loss) $ 65 $ (65 ) $ 129 $ (126 ) Adjustments: Interest income (185 ) (266 ) (377 ) (521 ) Income tax expense (benefit) 20 (31 ) 34 (46 ) Depreciation and amortization 52 34 100 65 Total adjustments (113 ) (263 ) (243 ) (502 ) EBITDA (48 ) (328 ) (114 ) (628 ) Corporate office expenses 273 280 509 523 Equity in earnings of affiliated companies (107 ) 127 (133 ) 283 Unrealized and realized losses on available for sale equity securities - 71 (20 ) 113 EBITDA from operations $ 118 $ 150 $ 242 $ 291 Expand
Business Wire
3 days ago
- Business
- Business Wire
LICT CORPORATION REPORTS Solid Second Quarter 2025
RYE, N.Y.--(BUSINESS WIRE)--LICT Corporation ('LICT' or the 'Company'; OTC Pink ®: LICT), an integrated provider of broadband and voice services, today announced its financial results for the quarter ended June 30, 2025, and also welcomed Joe Cecin as Chief Operating Officer. Joe is an engineering graduate of the U.S. Military Academy at West Point, has earned an MBA from Stanford University and brings over 30 years of telecommunications industry experience spanning operations, infrastructure development, and leadership in private equity-backed businesses. Shareholder Designated Charitable Contribution Program In 2016, the Company established the Shareholder Designated Charitable Contribution Program. Under this initiative, all registered shareholders were eligible to designate a qualified 501(c)(3) charitable organization, and the Company made contributions of $100 per share on their behalf. From 2016 through 2024, LICT donated more than $10 million to shareholder-designated charities nationwide, reflecting the generosity of our shareholder base and the Company's ongoing commitment to social responsibility. Pending Board of Director approval, the program will continue with a $100 per share shareholder designated charitable contribution, commencing December 2025. LICT believes that charitable giving is a fundamental obligation for those with the means to make a meaningful impact. By empowering shareholders to direct contributions to causes they value, the program has extended LICT's commitment to community engagement and philanthropy. Revenues Second Quarter 2025 Total revenues were $34.4 million in the second quarter of 2025 compared with $33.7 million in the second quarter of 2024. Non-regulated revenues were $19.2 million, 56% of total revenues, compared with $18.8 million in the second quarter of 2024. The increase was primarily due to higher sales of broadband services and high-speed data circuits, mostly in Utah, Kansas and California. Regulated revenues were $15.2 million, representing an increase of $0.3 million, or 2.0%, compared to $14.9 million in the second quarter of 2024. Second quarter 2025 results also include regulated revenues from Manti Telephone Company (MTC), which was acquired on January 1, 2025; MTC contributed $0.9 million in regulated revenue this quarter. This acquisition supports our continued strategic expansion in rural markets. This was offset by reductions in voice service revenues consistent with broader industry trends. Additionally, interstate access revenues declined due to a drop in special access circuits which have been replaced with lower cost broadband services. Six Months ended June 30, 2025 Total revenues were $69.0 million for the six months ended June 30, 2025 compared with $67.2 million for the six months ended June 30, 2024. Non-regulated revenues were $38.6 million for the six months ended June 30, 2025 compared with $37.2 million for the six months ended June 30, 2024, an increase of $1.4 million, or 3.8%, driven by higher sales of broadband services and high-speed data circuits while at the same time encountering increased competition and pricing pressures in our expansion markets. Regulated revenues were $30.4 million for the six months ended June 30, 2025, compared with $29.9 million for the six months ended June 30, 2024. These results also include regulated revenues of $1.7 million from the Manti Telephone Company (MTC), which was acquired on January 1, 2025. This was offset by reductions in voice service revenues consistent with broader industry trends. Additionally, interstate access revenues declined due to a drop in special access circuits which have been replaced with lower cost broadband services. EBITDA Second Quarter 2025 EBITDA for the second quarter of 2025 was $13.5 million compared to $14.2 million for the same period in 2024, representing a decrease of $0.7 million, or 4.9%. The year-over- year decline primarily reflects higher operating expenses, particularly in labor, professional services, and maintenance activities supporting our ongoing network expansion. Importantly, as a greater number of capital expenditure projects transition from planning to execution in the second half of the year, a larger portion of labor and professional services expenses is expected to be capitalized. This shift is anticipated to reduce the impact of these costs on operating expenses going forward, supporting improved EBITDA margins in future periods. Non-regulated EBITDA for the second quarter of 2025 was $7.1 million, unchanged from the same period in 2024. Regulated EBITDA for the second quarter of 2025 was $6.4 million, compared to $7.2 million in the same period of 2024, reflecting a decrease of $0.8 million, or 11.1%. The decline was primarily driven by lower regulated revenues due to mandated pricing adjustments and by higher operating expenses. Six Months Ended June 30, 2025 EBITDA for the six months ended June 30, 2025 was $27.3 million, compared to $28.9 million for the same period in 2024, representing a decrease of $1.6 million, or 5.5%. The decline in EBITDA is consistent with the increase in operating costs, particularly higher personnel-related and professional service expenses tied to operational expansion. Although revenue growth in certain markets provided a partial offset, the net impact of these cost pressures resulted in a modest decline in EBITDA, which, along with higher depreciation and amortization expense, contributed to the overall decrease in net income. Non-regulated EBITDA for the first six months of 2025 was $14.4 million, compared to $14.4 million in the first six months 2024. Regulated EBITDA for the first six months of 2025 was $12.9 million, compared to $14.5 million in the same period of 2024, reflecting a decrease of $1.6 million, or 11.0%. The decline was primarily driven by increased operating costs, including higher expenses for expanded staffing and professional services related to our operational expansion, as well as elevated repair and maintenance activity in the Company's New Mexico and Utah operations. The following table is a reconciliation of EBITDA to Operating profit from operations: Net income and Earnings per Share Second Quarter 2025 Net income for the second quarter of 2025 was $3.2 million, or $198 per share, compared to $4.9 million, or $293 per share, for the same period in 2024. The $1.7 million, or 34.7%, year-over-year decrease in net income was primarily driven by higher operating and non- operating expenses. Total costs and expenses increased by $2.3 million, largely due to a $1.1 million rise in cost of revenue, which reflected expanded staffing, increased use of professional services, and higher repair and maintenance activity, particularly in the Company's New Mexico and Utah operations. Depreciation expense also increased by $0.6 million, driven by recent investments in network infrastructure. Six Months Ended June 30, 2025 Net income for the six months ended June 30, 2025 was $7.3 million, or $453 per share, compared to $9.9 million, or $586 per share, for the same period in 2024. The $2.6 million, or 26.3%, decrease in net income was primarily driven by a $5.2 million increase in total costs and expenses. This increase was largely due to a $2.6 million rise in cost of revenue— reflecting expanded staffing, professional services, and increased repair and maintenance activity in the Company's New Mexico and Utah operations—as well as a $1.4 million increase in depreciation and amortization expense associated with recent infrastructure investments. These higher operating and non-cash expenses were partially offset by a $1.8 million increase in revenue, driven by continued growth in broadband services in the Utah and Kansas markets. Leadership Additions Strengthen Operational and Strategic Capabilities During the quarter, LICT materially strengthened its leadership team. Joe Cecin joined LICT as Chief Operating Officer to support the company's continued network and geographical expansion and the execution of its long-term strategy. Additionally, Christopher Nossokoff joined us to support and accelerate our interest in non-organic growth. With a background in finance, accounting, and transaction due diligence—including roles at LGL Group and PricewaterhouseCoopers—Mr. Nossokoff enhances LICT's ability to evaluate strategic opportunities and support disciplined capital deployment. These appointments further bolster LICT's management team as the company continues to scale its broadband footprint and pursue long-term value creation. Tax Reform Bill Enlarges LICT's Cash Flow On July 4, 2025, the new tax bill was signed into law, delivering several key tax reforms with positive implications for LICT's financial position, notably 100% bonus depreciation, changes in R&D expensing and interest deductions. The legislation reinstates 100% bonus depreciation for qualified property placed in service after January 19, 2025. This provision is expected to meaningfully reduce near-term cash tax obligations and enhance after-tax returns on our broadband infrastructure investments, mostly through the capital expenditures planned through 2028. While we are still evaluating the full financial statement impact of these provisions, the enactment of the new tax bill strengthens LICT's ability to invest in network expansion, manage capital efficiently, and deliver long-term value to our shareholders. In addition, the continuation of lower corporate tax rates under the Act supports stronger after-tax cash flow, further enhancing our financial flexibility. Government Programs & Funding Update: Momentum Accelerates for Rural Broadband Expansion LICT continues to benefit from federal and regulatory momentum supporting rural broadband deployment. Recent developments across the Universal Service Fund (USF) and the Broadband Equity, Access, and Deployment (BEAD) program are removing barriers, streamlining funding mechanisms, and creating new opportunities for providers like us to expand high-quality, cost-effective service across our footprint. U.S. Supreme Court Decision on Universal Service Fund On June 27, 2025, the U.S. Supreme Court issued a decisive 6–3 ruling in FCC v. Consumers' Research, affirming the constitutionality of the USF under Section 254 of the Telecommunications Act. This long-awaited clarity secures the foundation for key programs, including High-Cost and Enhanced ACAM, providing uninterrupted support for rural broadband initiatives. For LICT, the decision directly supports our long-term capital plans and commitment to deliver at least 100/20 Mbps service in our RLEC territory. The plan calls for 50% of locations completed by December 31, 2026 and 100% by December 31, 2028. The ruling also reaffirmed the FCC's oversight of USF contributions and fund allocation, bringing regulatory consistency that allows rural carriers, like LICT, to invest. A newly reactivated bipartisan USF Working Group in Congress is driving efforts to modernize the contribution system and broaden the funding base—efforts we actively support through our leadership in USTelecom and WTA - Advocates for Rural Broadband (formerly known as Western Telecommunications Alliance). Broadband Equity, Access, and Deployment ("BEAD") Program We're encouraged by the recent 'Benefit of the Bargain' reforms to the BEAD program, which represent a welcome shift toward greater practicality and provider participation. These updates eliminate several non-statutory requirements—such as labor mandates, climate reporting, and net neutrality rules—that previously increased complexity and risk for rural projects. The revised framework also introduces a simplified Low-Cost Service Option ("LCSO") to ease compliance for low-income offerings, and a streamlined environmental review process aimed at achieving two-week NEPA approvals. Most importantly, the new rules emphasize lowest-cost, performance-sufficient solutions, providing greater flexibility for providers like LICT to leverage technologies such as fixed wireless, often the most efficient and economical option for reaching remote areas. With these improvements in place, we are actively re-engaging in BEAD applications. Together with the strengthened USF platform, these updates enhance our ability to expand affordable, high-speed broadband in underserved areas—delivering lasting value to our customers and our communities. Government Grants and Capital Expenditures Enhanced Alternative Connect America Cost Model ("E-ACAM") Program LICT's voluntary participation in the E-ACAM program became effective on January 1, 2024. The program aims to accelerate broadband deployment and improve speeds in rural areas across the U.S. Under this initiative, LICT entities will receive a total of $37.2 million annually through 2038, subject to a one-time true-up determination by the FCC by December 31, 2025. Reconnect III and Reconnect IV As previously announced, LICT has been awarded $157.5 million for seven United States Department of Agriculture ("USDA") ReConnect III and ReConnect IV grants awarded in Kansas, California and New Mexico with a total project cost of $171.2 million, of which our share of cost will be approximately $13.7 million. These grants require us to provide 1 Gig of fiber broadband speed. Fiber construction is already underway for the Kansas grant and the New Mexico ReConnect projects. The five remaining grants—three in New Mexico and two in California—have also secured environmental clearance and are currently in the pre-construction phase, pending commencement of build-out activities. Strategic Initiatives The Company continues to implement strategic measures aimed at lowering the cost structure of its capital investment programs. By leveraging fixed wireless solutions and alternative access technologies, the Company is focused on achieving more capital-efficient network deployments while maintaining service quality and coverage targets. FIXED WIRELESS/5G — Under the leadership of Dylan Larmore, Sound Broadband LLC, the wireless subsidiary of LICT Corporation, has completed several 5G deployments in its existing markets and is expanding into new regions, including New Mexico, California, Kansas, and Utah. The company is currently identifying sites in California, Iowa and Kansas for new expansion markets, with the plan to deliver the highest speeds at the best possible cost to customers. Sound Broadband remains committed to bridging the digital divide and delivering next-generation connectivity across diverse sectors and underserved regions, both in our existing operations as well as outside of our historical territories. Operating Statistics / Broadband Deployment LICT owns and operates 7,483 miles of fiber optic cable, 8,945 miles of copper cable, 847 miles of coaxial cable, 103 towers and 301 spectrum licenses (1,216 million MHZPoP). The table below provides a comparative summary of the Company's subscriber and line metrics as of June 30, 2025, versus December 31, 2024. Liquidity and Balance Sheet Highlights Liquidity In October 2024, the Company enhanced its financial flexibility by securing a $100 million five-year term revolving credit facility with CoBank. As of June 30, 2025, the Company had drawn $53.8 million under this facility, with an average interest rate of 6.4%. As previously disclosed, in August 2024, the Company entered into an $11 million credit facility with First Central State Bank ("FCSB") to support construction of its Iowa NOFA 6 project. The project was successfully completed in March 2025, and on March 31, 2025, the Company received $7.2 million in grant funding from the State of Iowa. The FCSB facility was fully repaid in early May 2025. As of June 30, 2025, the Company's net debt balance was $67.7 million, compared to $57.1 million as of December 31, 2024. The Company maintains sufficient liquidity under its $100 million credit facility, allowing it to balance strategic investments, acquisitions, and return of capital to shareholders. Capital Expenditures In the second quarter of 2025, capital expenditures totaled $17.6 million, up from $11.8 million in the second quarter of 2024. Spending this quarter was primarily directed toward the continued build-out of E-ACAM broadband infrastructure and early-phase ReConnect III and IV initiatives. The Company also allocated capital to fixed wireless and 5G network expansion under the direction of its Sound Broadband subsidiary. Capital investments remain integral to achieving regulatory commitments and expanding high-speed broadband services across LICT's rural markets. Share Repurchase Program For the three months ended June 30, 2025, the Company repurchased 275 shares of its common stock for a total of $3.5 million. For the six months ended June 30, 2025, the Company repurchased 441 shares of its common stock, totaling $6.1 million. On July 1, 2025, the Company's Board of Directors authorized the repurchase of an additional 250 shares, reflecting the Company's continued commitment to enhancing long-term shareholder value. As of June 30, 2025, LICT had 15,732 shares outstanding. About LICT Corporation LICT Corporation (OTC Pink ®: LICT) is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business. LICT has operations in California, Kansas, Iowa, New Mexico, Oregon, Utah, and Wisconsin. Additionally, the company holds investments in wireless spectrum, MachTen Inc., Aureon Network Services, CVIN LLC, and the Kansas Fiber Network. Cautionary Note Concerning Forward Looking Statements This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met.
Business Wire
01-07-2025
- Business
- Business Wire
LICT Corporation Appoints Joe Cecin as Chief Operating Officer
RYE, N.Y.--(BUSINESS WIRE)-- LICT Corporation (OTC Pink®: LICT) ('LICT' or the 'Company) is pleased to announce the appointment of Joe Cecin as LICT's Chief Operating Officer, effective immediately. 'We are privileged to welcome Joe to LICT Corporation as our new Chief Operating Officer," said Mario Gabelli, Interim Chief Executive Officer of LICT. "With significant experience in the telecommunications industry and a track record of leading complex operating initiatives, Joe brings the operational rigor that will help us expand our market position and deliver sustained value to our customers and all our stakeholders. I am confident that his leadership will be instrumental as we continue to grow and execute on our strategic priorities.' Mr. Cecin has more than 30 years of experience in the telecommunications industry. Mr. Cecin holds a Bachelor of Science degree in Electrical Engineering from the United States Military Academy at West Point and a Master of Business Administration from Stanford University. Mr. Cecin served as an officer in the United States Army's 25 th Infantry Division and is a qualified parachutist, rappel master, and earned the U.S. Army Ranger tab. Prior to joining LICT, Mr. Cecin served as Chief Executive Officer of Ontivity, a leading private-equity backed provider of telecommunications infrastructure engineering and construction services to carriers and infrastructure providers nationwide. He was also Chief Executive Officer of The Hylan Group and Executive Vice President – Operations of UniTek Global Services, both private-equity backed providers of communications infrastructure design, engineering and construction services for wireline, wireless and smart city service operators across the United States. Earlier in his career, Mr. Cecin was Chief Operating Officer of RCN Corporation, a competitive cable television and internet services provider and Managing Director of BB&T Capital Markets, the investment banking division of BB&T Corporation (now Truist). About LICT Corporation LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that seeks acquisitions, principally in its existing business areas. LICT Corporation is listed on the OTC Pink® under the symbol LICT. For further information visit our website at
Yahoo
16-06-2025
- Business
- Yahoo
CIBL, Inc. Announces Christopher Nossokoff Will Join CIBL as Merger and Acquisitions Advisor
RENO, Nev., June 16, 2025--(BUSINESS WIRE)--CIBL, Inc. ("CIBL" or the "Company"; OTC Pink®: CIBY) is privileged to announce that Christopher Nossokoff will join CIBL as Merger and Acquisitions Advisor. Mr. Nossokoff currently serves as Vice President – Finance of The LGL Group, Inc. and Vice President – Financial Reporting of M-tron Industries, Inc., and was a former Manager -- Financial Due Diligence at PricewaterhouseCoopers, LLP. Mr. Nossokoff is also a Certified Public Accountant and a Chartered Financial Analyst. Mr. Nossokoff holds a Bachelor of Science in Accounting from Clemson University, and a Master of Science in Accounting, from the Kelley School of Business at Indiana University. To the extent this release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate. CIBL is a holding company with interests in broadband operations. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website: View source version on Contacts Kenneth D. MasielloChief Financial Officer(775) 664-3700
Business Wire
16-06-2025
- Business
- Business Wire
CIBL, Inc. Announces Christopher Nossokoff Will Join CIBL as Merger and Acquisitions Advisor
RENO, Nev.--(BUSINESS WIRE)--CIBL, Inc. ('CIBL' or the "Company"; OTC Pink®: CIBY) is privileged to announce that Christopher Nossokoff will join CIBL as Merger and Acquisitions Advisor. Mr. Nossokoff currently serves as Vice President – Finance of The LGL Group, Inc. and Vice President – Financial Reporting of M-tron Industries, Inc., and was a former Manager -- Financial Due Diligence at PricewaterhouseCoopers, LLP. Mr. Nossokoff is also a Certified Public Accountant and a Chartered Financial Analyst. Mr. Nossokoff holds a Bachelor of Science in Accounting from Clemson University, and a Master of Science in Accounting, from the Kelley School of Business at Indiana University. To the extent this release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, it should be recognized that such information is based upon assumptions, projections and forecasts, including without limitation business conditions and financial markets, and the cautionary statements set forth in documents filed by CIBL on its website, Thus, such information is subject to uncertainties, risks and inaccuracies, which could be material, and there can be no assurance that such information will prove to be accurate. CIBL is a holding company with interests in broadband operations. CIBL is listed on OTC Pink® under the symbol CIBY and information can be obtained on our website:
