LICT CORPORATION BOARD OF DIRECTORS HAS APPROVED CHARITABLE GIVING TO HELP OUR COMMUNITIES COPE WITH HEALTH AND ECONOMIC ISSUES RELATED TO COVID-19

Rye, New York – April 14, 2020 – The Board of Directors of LICT Corporation (“LICT” OTC Pink ®: LICT) approved a charitable contribution program in order to help our communities cope with the effects of the Covid-19 pandemic. In particular, each of our 338 teammates, together with their companies are ready, at their option, to work with school districts in our service areas to identify families in need and is donating the needed equipment to get children who are “sheltered at home” back to learning.

LICT is committed to giving back to our communities and over the past four years, LICT has made over $5.5 million in charitable contributions.

In addition to the charitable contributions, LICT is committed to providing high speed connectivity to the businesses and families in need in the communities we serve. During this pandemic, LICT is committed to:

• not disconnect service to customers that are temporarily unable to pay because of circumstances related to COVID-19;

• offer free or discounted internet connectivity to families in need due to the pandemic with school aged children that need connectivity for distance learning; and

• set up community WI-FI hot-spot locations to make sure that community members can safely stay connected to information and loved ones.

Dan Hopkins, President and Chief Financial Officer of LICT, said “Our mission is to improve the communities that we serve. Our commitment to that mission is even greater in times of crisis when our communities need us more than ever. We understand the critical importance of staying connected to learning and we want to make sure that children have the equipment and connectivity they need so that they don’t fall behind. Our teammates live in the communities we serve, and we believe it is our responsibility to step up and help out when our communities are in need”.

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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 achieves another quarter of solid revenue growth, stable EBITDA, and strong cash from operations; balance sheet strengthens as net cash grows

Fourth Quarter

• Revenues increased 10% to $31.2 million from $28.4 million.
• EBITDA grew to $14.7 million from $13.4 million.
• EPS rose 25% to $344 per share from $275 per share. 

Full Year

• Revenues climbed 3.8% to a record $118.4 million from $114.1 million.
• EBITDA was $53.4 million versus $53.3 million.
• EPS rose to $1,353 per share from $1,256 per share.

Rye, NY – February 24, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) reports preliminary, unaudited, financial results for the year ended December 31, 2019.

Continue reading LICT CORPORATION REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2019 RESULTS

Rye, New York – January 28, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has closed on a 5 year, $50 million, unsecured Revolving Credit Facility with CoBank. In addition to extending the term of the Revolving Credit Facility through 2025, the new loan facility provides lower pricing, an improved covenant structure, and greater flexibility to make charitable contributions, acquisitions as well as Shareholder Compensation.

Continue reading LICT CORPORATION CLOSES ON A NEW $50 MILLION DOLLAR REVOLVING CREDIT FACILITY PROVIDED BY COBANK

Rye, New York – January 3, 2020 – LICT Corporation (“LICT” or the “Company”; OTC Pink ®: LICT) has closed the sale of its minority interest in the Modoc RSA Limited Partnership (“Modoc”) to Verizon Wireless.  LICT had announced the signing of a definitive agreement for this transaction on November 26, 2019.

Modoc is a partnership controlled by Verizon Wireless which provides service in a rural area of northern California.  A subsidiary of LICT had acquired this interest in Modoc in 1988.  The transaction was not subject to any regulatory approvals.

Dan Hopkins, President and Chief Financial Officer of LICT, said “The sale of LICT’s interest will further strengthen LICT’S financial condition and flexibility. This transaction concludes a very successful partnership with Verizon Wireless.  Verizon has been a good partner and has provided excellent management of this property and we wish it continued success.”

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Reno, Nevada/Rye, New York, December 16, 2019 – LICT Corporation (“LICT”; OTC Pink ®: LICT) and CIBL, Inc. (“CIBL”; OTC Pink ®: CIBY) are announcing that the New Hampshire Public Utilities Commission (“NHPUC”) today approved the merger of LICT’s subsidiary which owns the Bretton Woods Telephone Company (“BWTC”) with a subsidiary of CIBL.  The NHPUC’s approval of the merger is effective as of December 31, 2019.

Continue reading CIBL AND LICT TRANSACTION RECEIVES FINAL APPROVAL AND A YEAR END CLOSING IS SCHEDULED

Rye, NY – November 26, 2019 – LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) is announcing the signing of a definitive agreement to sell its minority interest in the MODOC RSA Limited Partnership (“Modoc”), to Verizon Wireless.  Modoc is a partnership which is controlled by Verizon and provides wireless service in a rural area of northern California.

Continue reading LICT CORPORATION ANNOUNCES SALE OF ITS INTEREST IN MODOC RSA LIMITED PARTNERSHIP TO VERIZON

• Revenues were $28.4 million, a reduction of 12% from $32.3 million.
• EBITDA was $13.0 million, a $4.7 million decline from $17.7 million.
• Earnings per share were $263 per share compared to $391 per share in 2018.
• Charitable Contribution Program continues in the Fourth Quarter of 2019.

Rye, NY – November 20, 2019 – LICT Corporation (“LICT” or the “Company”; OTC Pink^®: LICT) reports financial results for the quarter ending September 30, 2019.

SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM — In 2016, the Company adopted a Shareholder Designated Charitable Contribution Program. Under the Program, all registered shareholders are eligible to designate charities and the company will make a contribution to that charity. In 2016, 2017 and 2018, the company made $100 per share contributions on behalf of its shareholders to their designated charities. The LICT Board of Directors approved the 1st quarter 2019 contribution, also at $100 per share, in December 2018, and the contributions were distributed to the charities in the 1st quarter of 2019.  In addition, the board approved an additional contribution in the 3^rdquarter of 2019 and the distribution will be made in the 4^th quarter of 2019.

Continue reading LICT CORPORATION REPORTS THIRD QUARTER RESULTS

Rye, New York- October 1, 2019 – LICT Corporation (OTC Pink: LICT) As previously announced, LICT  is continuing its Shareholder Charitable Contribution Program, adopted in 2016, for all registered shareholders during the fourth quarter of 2019. All registered shareholders will be eligible to designate 501(c)3 charities to which the company will make a donation of $100 per share on behalf of the shareholder.

Continue reading LICT SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM

Rye, New York- July 31, 2019 – LICT Corporation (OTC Pink: LICT) is announcing that it will continue its Shareholder Charitable Contribution Program for all registered shareholders during the fourth quarter of 2019. As indicated, the program was adopted in 2016. All registered shareholders will be eligible to designate 501(c)3 charities to which the company will make a donation of $100 per share on behalf of the shareholder.

Continue reading LICT CORPORATION CONTINUES SHAREHOLDER DESIGNATED CHARITABLE CONTRIBUTION PROGRAM

Rye, New York – July 31, 2019 – LICT Corporation (“LICT” or the “Company”, OTC Pink ®: LICT) is today announcing that its Board of Directors (the “Board”) has increased the Company’s share repurchase authorization.  Prior to this increase, there had been 387 shares remaining for repurchase under the Board’s prior authorizations.  The Board has now increased that amount to 1,450 shares currently authorized for repurchase by LICT. LICT continues its buyback program because it believes that the current market under values the long-term prospects of the company. LICT intends to buy its shares from time to time in the marketplace as it deems appropriate.

Continue reading LICT CORPORATION INCREASES SHARE REPURCHASE PROGRAM