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CIBL, Inc. Reports Second Quarter Operating Results

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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 operations1 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 operations1 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.

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 A

Consolidated Statements of Operations (Unaudited)

(USD in thousands, except share data)

Ìý

Ìý

Ìý

Three Months Ended

June 30,

Six Months Ended

June 30,

2025

2024

2025

2024

Revenue

Ìý

Ìý

Ìý

Ìý

Revenue

$

529

Ìý

$

508

Ìý

$

1,053

Ìý

$

976

Ìý

Ìý

Ìý

Ìý

Ìý

Costs and expenses:

Ìý

Ìý

Ìý

Ìý

Costs of revenue, excluding depreciation

Ìý

341

Ìý

Ìý

296

Ìý

Ìý

682

Ìý

Ìý

568

Ìý

General and administrative costs of operations

Ìý

70

Ìý

Ìý

62

Ìý

Ìý

129

Ìý

Ìý

117

Ìý

Corporate office expenses

Ìý

273

Ìý

Ìý

280

Ìý

Ìý

509

Ìý

Ìý

523

Ìý

Depreciation and amortization

Ìý

52

Ìý

Ìý

34

Ìý

Ìý

100

Ìý

Ìý

65

Ìý

Total operating expenses

Ìý

736

Ìý

Ìý

672

Ìý

Ìý

1,420

Ìý

Ìý

1,273

Ìý

Operating loss

Ìý

(207

)

Ìý

(164

)

Ìý

(367

)

Ìý

(297

)

Other income (expense):

Ìý

Ìý

Ìý

Ìý

Interest income

Ìý

185

Ìý

Ìý

266

Ìý

Ìý

377

Ìý

Ìý

521

Ìý

Equity in earnings of affiliated companies

Ìý

107

Ìý

Ìý

(127

)

Ìý

133

Ìý

Ìý

(283

)

Unrealized and realized losses on available for sale equity securities

Ìý

-

Ìý

Ìý

(71

)

Ìý

Ìý

Ìý

20

Ìý

Ìý

Ìý

Ìý

Ìý

(113

Ìý

)

Total other income

Ìý

292

Ìý

Ìý

68

Ìý

Ìý

530

Ìý

Ìý

125

Ìý

Income (loss) before income taxes

Ìý

85

Ìý

Ìý

(96

)

Ìý

163

Ìý

Ìý

(172

)

Income tax (expense) benefit

Ìý

(20

)

Ìý

31

Ìý

Ìý

(34

)

Ìý

46

Ìý

Net income (loss)

$

65

Ìý

$

(65

)

$

129

Ìý

$

(126

)

Ìý

Ìý

Ìý

Ìý

Ìý

Basic and diluted weighted average shares outstanding

Ìý

11,606

Ìý

Ìý

12,445

Ìý

Ìý

11,715

Ìý

Ìý

12,554

Ìý

Actual shares outstanding

Ìý

11,541

Ìý

Ìý

12,399

Ìý

Ìý

11,541

Ìý

Ìý

12,399

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Earnings (loss) per share

Ìý

Ìý

Ìý

Ìý

Basic and Diluted

$

5.60

Ìý

$

(5.22

)

$

11.01

Ìý

$

(10.03

)

CIBL Inc. and Subsidiaries

Attachment B

Consolidated Balance Sheets (Unaudited)

(USD in thousands, except share data)

Ìý

June 30, 2025

December 31,

2024

(Audited)

Ìý

June 30, 2024

Assets

Ìý

Ìý

Current assets

Ìý

Ìý

Cash and cash equivalents

$

1,594

Ìý

Ìý

$

2,341

Ìý

Ìý

$

1,348

Ìý

Investments in United States Treasury Bills

Ìý

16,550

Ìý

Ìý

Ìý

16,598

Ìý

Ìý

Ìý

18,841

Ìý

Investment in available for sale equity securities

Ìý

44

Ìý

Ìý

Ìý

294

Ìý

Ìý

Ìý

279

Ìý

Investment in equity method limited partnership

Ìý

1,706

Ìý

Ìý

Ìý

1,645

Ìý

Ìý

Ìý

1,595

Ìý

Accounts receivable

Ìý

253

Ìý

Ìý

Ìý

284

Ìý

Ìý

Ìý

221

Ìý

Prepaid expenses

Ìý

94

Ìý

Ìý

Ìý

192

Ìý

Ìý

Ìý

71

Ìý

Materials and supplies

Ìý

59

Ìý

Ìý

Ìý

59

Ìý

Ìý

Ìý

59

Ìý

Income taxes receivable

Ìý

37

Ìý

Ìý

Ìý

-

Ìý

Ìý

Ìý

43

Ìý

Total current assets

Ìý

20,337

Ìý

Ìý

Ìý

21,413

Ìý

Ìý

Ìý

22,457

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Telecommunications, property, plant and equipment, net

Ìý

907

Ìý

Ìý

Ìý

958

Ìý

Ìý

Ìý

771

Ìý

Goodwill

Ìý

337

Ìý

Ìý

Ìý

337

Ìý

Ìý

Ìý

337

Ìý

Other intangibles, net

Ìý

25

Ìý

Ìý

Ìý

30

Ìý

Ìý

Ìý

35

Ìý

Other investments

Ìý

1,708

Ìý

Ìý

Ìý

1,636

Ìý

Ìý

Ìý

700

Ìý

Deferred income taxes

Ìý

34

Ìý

Ìý

Ìý

39

Ìý

Ìý

Ìý

50

Ìý

Other assets

Ìý

59

Ìý

Ìý

Ìý

59

Ìý

Ìý

Ìý

71

Ìý

Total assets

$

23,407

Ìý

Ìý

$

24,472

Ìý

Ìý

$

24,421

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Liabilities

Ìý

Ìý

Ìý

Ìý

Ìý

Current liabilities

Ìý

Ìý

Ìý

Ìý

Ìý

Income taxes payable

$

--

Ìý

Ìý

$

14

Ìý

Ìý

$

--

Ìý

Trade accounts payable and accrued expenses

Ìý

142

Ìý

Ìý

Ìý

138

Ìý

Ìý

Ìý

124

Ìý

Accrued liabilities

Ìý

353

Ìý

Ìý

Ìý

284

Ìý

Ìý

Ìý

381

Ìý

Total current liabilities

Ìý

495

Ìý

Ìý

Ìý

436

Ìý

Ìý

Ìý

505

Ìý

Other liabilities

Ìý

46

Ìý

Ìý

Ìý

46

Ìý

Ìý

Ìý

59

Ìý

Total liabilities

Ìý

541

Ìý

Ìý

Ìý

482

Ìý

Ìý

Ìý

564

Ìý

Ìý

Ìý

Ìý

Ìý

Ìý

Equity

Ìý

Ìý

Ìý

Ìý

Ìý

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

Ìý

--

Ìý

Ìý

Ìý

--

Ìý

Ìý

Ìý

--

Ìý

Contributed capital

Ìý

7,112

Ìý

Ìý

Ìý

7,112

Ìý

Ìý

Ìý

6,212

Ìý

Retained earnings

Ìý

37,545

Ìý

Ìý

Ìý

37,416

Ìý

Ìý

Ìý

37,147

Ìý

Treasury stock, 15,325; 14,600; and 14,017 shares at cost

Ìý

(21,791

)

Ìý

Ìý

(20,538

)

Ìý

Ìý

(19,502

)

Total equity

Ìý

22,866

Ìý

Ìý

Ìý

23,990

Ìý

Ìý

Ìý

23,857

Ìý

Total liabilities and equity

$

23,407

Ìý

Ìý

$

24,472

Ìý

Ìý

$

24,421

Ìý

CIBL Inc. and Subsidiaries

Attachment C

EBTIDA Reconciliation (Unaudited)

(USD in thousands, except share data)

Ìý

The following table is a reconciliation of EBITDA from operations to Net income (loss):

Ìý

Three Months Ended

June 30,

Six Months Ended

June 30,

2025

2024

2025

2024

Ìý

Ìý

Ìý

Ìý

Ìý

Net income (loss)

$

65

Ìý

$

(65

)

$

129

Ìý

$

(126

)

Ìý

Ìý

Ìý

Ìý

Adjustments:

Ìý

Ìý

Ìý

Ìý

Interest income

Ìý

(185

)

Ìý

(266

)

Ìý

(377

)

Ìý

(521

)

Income tax expense (benefit)

Ìý

20

Ìý

Ìý

(31

)

Ìý

34

Ìý

Ìý

(46

)

Depreciation and amortization

Ìý

52

Ìý

Ìý

34

Ìý

Ìý

100

Ìý

Ìý

65

Ìý

Total adjustments

Ìý

(113

)

Ìý

(263

)

Ìý

(243

)

Ìý

(502

)

EBITDA

Ìý

(48

)

Ìý

(328

)

Ìý

(114

)

Ìý

(628

)

Corporate office expenses

Ìý

273

Ìý

Ìý

280

Ìý

Ìý

509

Ìý

Ìý

523

Ìý

Equity in earnings of affiliated companies

Ìý

(107

)

Ìý

127

Ìý

Ìý

(133

)

Ìý

283

Ìý

Unrealized and realized losses on available for sale equity securities

Ìý

-

Ìý

Ìý

71

Ìý

Ìý

(20

)

Ìý

113

Ìý

EBITDA from operations

$

118

Ìý

$

150

Ìý

$

242

Ìý

$

291

Ìý

Ìý

Kenneth D. Masiello

Chief Financial Officer

(775) 664-3700

Source: CIBL, Inc.

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