LICT Corporation Reports on the Expiration of the Affordable Connectivity Program and Shares Estimated First Quarter 2024 Results

Rye, New York- March 25, 2024 – LICT Corporation (OTC Pink: LICT) LICT is focusing on government sponsored programs being offered to assist in closing the digital divide.  We have adopted several of these programs, however one in particular, the Affordable Connectivity Program (“ACP”) is set to expire in May unless it is renewed.  LICT is looking for ways to continue to support those individuals who risk losing ACP funding. The amount of such payments, while significant to the recipients, is not significant to the financial results of the company. If ACP is extended, we will pursue helping more individuals receive this funding.

LICT is providing early estimated results for the first quarter of 2024, including revenues up 10% to $34.0 million compared to $29.0 million in 2023 and EBITDA estimated at $15.3 million verse $11.5 million in 2023.  This should result in earnings  for the first quarter of 2024 around $350 per share versus $295 per share during the first quarter of 2023.

We plan on publishing first quarter results in May.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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, financial markets 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 successful or that financial or other targets will be met.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.  LICT is listed on the OTC Pink ® under the symbol LICT.  For further information, please visit our website listed above.

LICT Corporation Reports Preliminary Unaudited Fourth Quarter And Full Year 2023 Results

  • Shareholder Charitable Contribution Program Continues at $100 per share for registered shareholders
  • Acquisition of Manti Telephone in Utah:
  • Completed the acquisition of Manti’s Non-Regulated entities
  • Awaiting regulatory approval for the purchase of Manti’s regulated entity
  • LICT has accepted Enhanced ACAM (E-ACAM) and been awarded Federal and State grants.  The estimated total capital expenditures over the next five years to meet the buildout requirements and other projects is $508 million gross and $346 million net after grant funding.

2023-Fourth Quarter and Full Year Preliminary Results 

Rye, NY – March 4, 2024 – LICT Corporation (“LICT” or the “Company”; OTC Pink®: LICT) reports unaudited, preliminary financial results for the quarter ended December 31, 2023. Data for all periods is adjusted for the spin-off of MachTen and presented as discontinued operations.

Unaudited Results – Fourth Quarter  

Total revenues in the fourth quarter of 2023 increased by $0.3 million to $29.6 million versus $29.3 million in the same quarter a year ago. 

Non-regulated revenues for the fourth quarter of 2023 increased 5.2% to $18.1 million from the prior year’s fourth quarter $17.2 million driven by sales of broadband services and high-speed data circuits. Further, our results include December revenues from the Manti Non-Regulated entities which were acquired on November 30th.

Regulated revenues were $11.5 million in the fourth quarter of 2023, a decline of $0.6 million versus the prior year’s fourth quarter of $12.1 million. 

Total EBITDA was $11.6 million in the fourth quarter of 2023 as compared to $12.6 million in 2022. The $1.0 million decline in EBITDA is the result of higher operating expenses in the fourth quarter of 2023, including higher labor and increased material costs, professional and engineering fee expenses, as well as a decline in regulated revenue and also crimped by a non-cash goodwill impairment charge of $3.5 million in our Iowa/Wisconsin operation. In 2022 the impairment charge was $5.7 million to our Iowa/Wisconsin subsidiaries. 

Non-regulated EBITDA in the fourth quarter was $7.7 million compared to $7.5 million last year. The increase was driven by the above-mentioned increases in broadband services and high-speed data circuits, offset by increased expenses. 

Regulated EBITDA in the fourth quarter of 2023 was $3.9 million compared to $5.1 million during the same period last year.

OTHER INCOME/(EXPENSES) – Other income/expenses decreased to $0.2 million in the fourth quarter of 2023, versus $0.3 million in the prior year’s fourth quarter, reflecting higher earnings from affiliated companies partially offset by higher interest expense.

EARNINGS PER SHARE – Earnings per share excluding one-time events for the fourth quarter of 2023 were $163 per share compared to $293 per share last year.  

Unaudited Results – Full Year

Revenues from continuing operations in 2023 were $116.5 million, an increase of $1.0 million, compared to $115.5 million in 2022. 

Non-regulated revenues for the full-year 2023 increased by $2.5 million to $70.4 million from the prior year’s $67.9 million driven by sales of broadband services and high-speed data circuits. 

Regulated revenues were $46.1 million in 2023, a decline of $1.5 million versus the prior year total of $47.6 million due to a loss in voice access lines as well as the annual 5% decline in frozen switch access.

EBITDA in 2023 totaled $45.6 million versus $48.8 million in 2022. The $3.1 million decline was due in part to a $0.8 million reduction as a result of a previously announced abandonment of Rural Digital Opportunity Fund programs.  Additionally, throughout the year we faced inflationary pressures, resulting in increased salary expenses.  Increase in  our bandwidth capacity and resold circuits, accounted for $0.9 million of the increase in expenses. The planned surge in capital projects over the next five years required us to allocate additional resources and expenses such as consulting and engineering during 2023. 

Non-regulated EBITDA remained flat at $28.8 million for the year, while regulated EBITDA declined by $3.1 million to $16.8 million compared to $19.9 million in 2022.

As previously mentioned, in the full year there was a non-cash $3.5 million goodwill impairment charge versus $5.7 million, in 2022.

OTHER INCOME/(EXPENSES)

Other expenses in 2023 rose to $1.1 million versus $0.4 million in the prior year.  This change was driven by higher interest expenses offset by an increase in earnings in affiliated companies.

EARNINGS PER SHARE – Earnings per share excluding one-time events for the full year of 2023 were $949 per share as compared to $1,333 per share for the prior year.

CHARITABLE CONTRIBUTIONS – LICT is in the process of completing its most recent Shareholder Designated Contribution Program. Registered shareholders on February 15, 2023, were eligible to designate $100 per LICT share owned to a 501(c)3 charity. The current program could result in $1.2 million of designated contributions for 2023.  As we have noted, LICT’s program tracks the shareholder contribution program established by Berkshire Hathaway in 1981. At the inception of Berkshire’s program, Warren Buffett explained in his letter to shareholders that charitable giving in this manner provides significant benefits to shareholders. In addition, GAMCO Investors initiated a similar program in 2013, followed by Associated Capital Group in 2016.Since the inception of the program in 2016, LICT has contributed approximately $9.6 million to designated 501(c)(3) organizations chosen by shareholders. 

FCC Programs and Other Capital Expenditures

Total gross Capital Expenditures to meet the buildout requirements for E-ACAM, Federal (ReConnect III & IV) and State grants are estimated at $508 million and net of $346 million after grant funding.

  1. ENHANCED ALTERNATIVE CONNECT AMERICA COST MODEL (E-ACAM) PROGRAM
  • The Federal Communications Commission proposed an increase in ACAM funding through a program known as E-ACAM, which began January 1, 2024. 
  • In the new program, though there is some lingering concern and debate over funding, LICT entities will receive $37 million annually through 2038 with minimum speed requirements of 100/20 Mbps, and the required Capex is $364 million gross and $253 million after grant funding.
  1. RECONNECT III and RECONNECT IV– 
  • LICT was also awarded contracts for 7 entities, of which, our share of cost would be approximately $14 million. These grants require us to provide 1 Gig of fiber broadband speed.   
  1. AFFORDABLE CONNECTIVITY PROGRAM (ACP)  
  • Under the ACP program, which has been terminated, eligible customers received a broadband credit of up to $30 per month (up to $75 for households on Tribal Lands) towards their qualifying internet plan. During 2023, our approximately 1900 eligible customers received just over a half  million dollars in credits.

Strategic Initiatives

The spin-off of our Michigan entity, MachTen (OTC Pink: MACT), occurred on August 31, 2023. At the time of the spin-off each shareholder of LICT received 150 shares of MachTen per one share of LICT. 

LICT acquisition of Manti Telephone Company (MTC) and its partner companies, Manti Tele Communications Company (MTCC), and AFConnect (AFI) is nearly complete. The Manti transaction closed on November 30, 2023, and the MTC transaction will close pending regulatory approval.

During the fourth quarter of 2023, LICT completed the sale of 40% of its 20% ownership of Brick Skirt Holding Company (formerly DFT Communications) to CIBL, Inc. LICT’s sale of its remaining 12% ownership of Brick Skirt, is pending regulatory approval. Bretton Woods continues to utilize Brick Skirt for certain administrative functions as it has since 2014, when LICT sold DFT back to its founding family, but retained a 20% equity interest. 

FIXED WIRELESS – Sound Broadband LLC, LICT’s newly formed, wireless company, has initiated the installation of 5G wireless broadband services in areas we serve in New Mexico. Additional analysis continues in order to expand the implementation of 5G wireless broadband services in our other locations to efficiently provide increased broadband speeds to many of the communities we serve.  

CAPITAL EXPENDITURES – For the fourth quarter of 2023, capital expenditures were $7.5 million versus $12.0 million in the fourth quarter of 2022. Capital Expenditures for the year  2023 were $37 million versus $42 million in 2022, excluding our Michigan entity. 

SHARE REPURCHASES – During the twelve months ended December 31, 2023, the Company repurchased 370 shares for $6.7 million, with an average price of $18,235 per share. On December 31, 2023, 16,971 shares were outstanding, with 425 shares remaining authorized for purchase.

OPERATING STATISTICS/BROADBAND DEPLOYMENT – LICT owns and operates 6,329 miles of fiber optic cable, 9,040 miles of copper cable, 839 miles of coaxial cable and 82 towers. As of December 31, 2023, the Company’s broadband penetration in its franchised telephone service territories, based on its total Incumbent Local Exchange Carrier (ILEC) voice lines, was 98.3%, as compared to 99.1% at December 31, 2022. In 2023, the Company’s broadband lines increased by 4.3% to 44,367 from 42,518 units in 2022. These numbers do not include the Michigan entity that was spun-off. 

LICT Corporation Shareholder Designated Contribution Program

Rye, New York- January 16, 2024 – LICT Corporation (OTC Pink: LICT) announces today that it will continue its Shareholder Charitable Contribution program for all registered shareholders. Each registered shareholder will be eligible to designate a  charity to which the company will make a donation of $100 per share on behalf of the shareholder.

At LICT, we believe charitable giving is a cornerstone of society and an obligation for those with means to make a difference in the world. As an organization, LICT will have no control over the donations, but we are happy to make them on behalf of our shareholders.

Since the program’s inception in 2016,  LICT has made more than $8.4 million in charitable contributions.

If a shareholder’s shares are registered in “street name” (i.e. a bank, broker or other institution holding the shares for the shareholder), those shares will not be eligible to participate in this charitable program.  Therefore, any shareholder who has shares that are currently held in street name but wishes to participate in this program should contact the institution holding the shares to arrange for their registration in the shareholder’s own name.

Shareholders will have until February 15, 2024, to register shares in their own name to participate in the program. LICT will distribute a charitable contribution form that must be returned to LICT no later than March 11, 2024, for the charitable contribution to be made. Only charities that are recognized 501 (c) (3) organizations will be qualified to receive the donation from LICT on the shareholder’s behalf. A list of eligible charities is available at: Guidestar.org

If all shares outstanding are registered in the shareholders’ names at the record date, the total contribution would be approximately $1.7 million.

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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and 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, financial markets 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 successful or that financial or other targets will be met.  Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.

LICT is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.  LICT is listed on the OTC Pink ® under the symbol LICT.  For further information, please visit our website listed above.

LICT Corporation Reports Third Quarter 2023 Results

  • 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 3rd 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

LICT Corporation Announces Acquisition of Manti Telephone Company

Rye, New York – October 5 , 2023 – LICT Corporation’s  (“LICT”, OTC Pink ®: LICT) wholly owned subsidiary CentraComhas 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.

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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.

LICT Corporation to Participate in Enhanced A-CAM Program

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.

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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.

LICT Corporation Revises Proposed Distribution Date for Spin-Off of MachTen, Inc.  

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.

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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 Announces Expected Ex-Dividend for Spin-Off of MachTen, Inc.

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.  

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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 Announces Board Approval of Michigan Spin-Off to MachTen

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.

LICT Corporation Announces MachTen Form 10 Registration Statement Approval

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.

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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.