• ACAM extended and increased through 2038 with Extended A-CAM Program
• Spinoff of MachTen complete-LICT holders receive 150 shares of MachTen per LICT share
• Net Debt to EBITDA ratio of 1.4 for the 3^rd quarter
• Acquisition of  Manti Telephone in Utah 
• Sale of 20% ownership in Brick Skirt Holdings Company pending regulatory approval
• Shareholder Charitable Contribution Program Continues at $100 per share

Rye, NY – December 8, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) reports unaudited, financial results for the quarter ended September 30, 2023.  

Data for all periods are adjusted for the spin-off of MachTen and presented as discontinued operations.

Non-regulated revenues for the third quarter of 2023 increased 2.1% to $17.5 million from the prior year’s third quarter $17.2 million. Regulated revenues were $11.3 million in the third quarter of 2023 versus the prior year’s third quarter of $11.7 million, with overall revenues unchanged at $28.8 million versus a year ago.

Non-regulated EBITDA was $6.7 million compared to $7.5 million last year and was crimped by a $600,000 revenue reduction as a result of abandonment of RDOF programs, which is described further in this release. 

Total EBITDA was $9.4 million in the third quarter of 2023 as compared to $11.1 million in 2022. The decline in EBITDA is the result of the reduction mentioned above and is also driven from higher operating expenses in the third quarter of 2023, including higher labor, material costs, professional and engineering fee expenses.

Continue reading LICT Corporation Reports Third Quarter 2023 Results

Rye, New York – October 5 , 2023 – LICT Corporation’s  (“LICT”, OTC Pink ®: LICT) wholly owned subsidiary CentraCom,  has agreed to  acquire Manti Telephone Company (MTC) and its related companies, Manti Tele Communications Company (MTCC), and AFConnect (AFI). The Manti transaction is scheduled to close on October 31, 2023. MTC will close pending regulatory approval.

CentraCom is celebrating 120 years in business. It is headquartered in Fairview, Utah and provides broadband data, video, and voice communications to over sixty cities throughout rural Utah.

Manti Telephone Company has provided communication services in Manti and Sterling, Utah, for over a century, and expanded into Ephraim, Utah in the 1990s. In 2022, MTC further expanded its reach by acquiring AFConnect, an internet service provider in American Fork, Utah, known for its continuous growth in providing fiber-to-the-home internet services.

Expanding CentraCom’s statewide fiber network footprint to the rural communities of Manti, Sterling, Ephraim, and beyond, supports the growth of business and residential access to advanced  communication services.

The acquisition is part of LICT’s strategic initiative and  reinforces our commitment to deliver high-quality communication services to the communities we serve. LICT continues to actively seek partnerships with other companies in and outside its current service areas to deliver fast, reliable digital speed.

************************************************************************

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, www.lictcorp.com.  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.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively 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 http://www.lictcorp.com.

Rye, New York —  October 2, 2023 – LICT Corporation (“LICT”, OTC Pink ®: LICT) is  announces that we are electing to participate in the Federal Communications Commission (“FCC”) Enhanced  Alternative – Connect America Cost Model (“Enhanced A-CAM”).  The Enhanced A-CAM support is an update and extension of the current Alternative Connect America Cost model (A_CAM) which LICT and its subsidiaries have participated in since the 2016 inception of the program.

The FCC’s Enhanced A-CAM program is designed to expedite and expand the deployment of high-speed broadband services throughout the nation’s rural areas to all locations that currently receive broadband speeds less than 100/20 Mbps. 

This new election is made by state and is for  all LICT operating company subsidiaries, located in California, Iowa, Kansas, New Mexico, Utah and Wisconsin, .

Enhanced A-CAM will provide  LICT a fixed level of annual funding commencing January 1, 2024, through December 31, 2038, in exchange for building facilities to provide a broadband speed of 100/20 Mbps or greater to  approximately 19,600 locations.

**********************************************************************************

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, www.lictcorp.com.  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.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively 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 http://www.lictcorp.com.

Rye, NY, August 11, 2023 — LICT Corporation (OTC Pink: LICT) has changed the proposed distribution date for its previously announced spin-off of 81% of the common stock of MachTen, Inc. (OTC Pink: MACT) from August 14 to August 31, 2023.  MachTen is a newly formed company organized to be a holding company for LICT’s Michigan operations.

LICT’s stockholders of record as of 5:00 p.m. New York City time on July 31, 2023 will continue to be entitled to receive 150 shares of MachTen for every 1 share they own of LICT common stock.  It is also now intended that the ex-dividend date for the distribution will be set for September 1, 2023, such that any shares of LICT common stock traded prior to September 1, 2023 will be transferred with the right to receive the distribution of MachTen common stock in the spin-off.We look forward to a promising future for MachTen as it focuses on bringing higher broadband speeds to the communities it serves.

   *********************************************************************************

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, www.lictcorp.com. 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. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

Rye, NY, August 7, 2023  — LICT Corporation (OTC Pink: LICT) previously announced that its Board of Directors has approved  the spin-off of a majority interest in its Michigan businesses through a pro rata distribution of 81% of the common stock of MachTen, Inc., a newly formed holding company formed to hold the Michigan businesses. LICT shareholders will receive on August 14, 2023, a distribution of 150 shares of MachTen common stock for every 1 share of LICT common stock owned as of 5 p.m. ET on July 31, 2023, the record date for the distribution.

It is intended that the ex-dividend date for the distribution will be set for August 15, 2023, such that any shares of LICT common stock traded from now until such date will be transferred with the right to receive the distribution of MachTen common stock in the spin-off.  

************************************************************************************************************

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, www.lictcorp.com. 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. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

Rye, NY, July 31, 2023  — LICT Corporation (OTC Pink: LICT) announced today that its Board of Directors has approved the previously announced separation of the company’s wholly owned Michigan subsidiary through a pro rata distribution into newly formed parent company MachTen, Inc.

LICT shareholders will receive a distribution of 150 shares of MachTen common stock for every 1 share of LICT common stock owned as of the record date.

MachTen common stock is expected to be distributed at 11:59 p.m. EDT August 14, 2023, to LICT stockholders of record as of 5 p.m. EDT on July 31, 2023, the record date for the distribution.

The distribution of shares does not require stockholder approval and no action is required by LICT stockholders to receive the shares of MachTen common stock. An information statement with details of the distribution and MachTen’s business following the spinoff will be distributed to LICT stockholders prior to the distribution date.  The distribution is expected to be tax free for LICT stockholders for U.S. federal income tax purposes.

Following the separation, LICT and MachTen will be independent, publicly traded companies with distinct business operations, customers and geographic markets.

MachTen shares are expected to trade on the OTCQB under the symbol “MACT.”  MachTen is planning a conference call for investors on August 23 at 4:30pm ET.  MachTen Chief Executive Officer, Dan Miller, will review the Michigan operations, financial performance and growth prospects, and answer questions. Dial-in information will be available at www.machteninc.com.

“This is a very exciting time for MachTen stakeholders – our customers, our Michigan based team, and our shareholders,” said Dan Miller.  “Michigan Broadband is well respected provider of communications services, and is well positioned to benefit from several demographic trends.”

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively 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 http://www.lictcorp.com.

.********************************************************************************** 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, www.lictcorp.com.       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. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively 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 http://www.lictcorp.com.

Rye, NY – July 25, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) announces that the U.S. Securities and Exchange Commission has cleared the spin-off of the Company’s  Michigan operations. Details will be forthcoming in a future press release.

***************************************************************************************************************

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, www.lictcorp.com.       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. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively 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 http://www.lictcorp.com.

Rye, NY – July 18, 2023 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT)
announces that, in connection with the previously disclosed spin-off of MachTen, the U.S.
Securities and Exchange Commission has declared effective the Registration Statement on Form
10 filed by MachTen, Inc., the wholly owned subsidiary of LICT that was formed to be the new
parent company for the Michigan operations post-separation.

The information statement that is attached to MachTen’s Form 10, including details regarding the
separation, pro rata distribution and a discussion of the Michigan business, will be made available
to LICT shareholders prior to the distribution date. It is expected that the distribution will be made
in the third quarter.

In connection with the separation, MachTen is planning a conference call for investors on August
23 at 4:30pm ET. MachTen Chief Executive Officer, Dan Miller, will review the Michigan
operations, financial performance and growth prospects, and answer questions. Dial-in
information will be available at www.machteninc.com.

---

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,
www.lictcorp.com. 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. Such forward-looking information is
subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications
services that actively 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 http://www.lictcorp.com.