Alpha Hospitality Reports Second Quarter Results.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 17, 2001 Alpha Hospitality Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on - ALHY ALHY Alpha Hospitality Corporation (stock symbol; previously ALH) ; BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). - ALH ALH Advanced Light Helicopter ALH Amplitude of Lateral Head (Displacement) ALH Alpha Hospitality Corporation (former stock symbol; now ALHY) ALH Advanced Liquid Hydrogen ; WARRANTS: OTCBB OTCBB See OTC Bulletin Board (OTCBB). - ALHYW; BSE - ALHW) ("Alpha") today reported results for the six months ended June 30, 2001. The results principally reflect the general and administrative expenses related to the pursuit of a Native American casino American Casino is a current American reality television series. The show originally aired on the Discovery Channel, but in June 2005, it was moved to The Travel Channel. proposed to be located at the Monticello Raceway in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State, the start-up operations of Alpha's entertainment/gaming day cruise vessel in Miami Beach, Florida “Miami Beach” redirects here. For the beach in Barbados, see Miami Beach, Barbados.
Summary Balance Sheet Data
June 30, 2001
(in thousands)
Cash $ 728
Total current assets 244
Net property and equipment 2,124
Other assets 9,764
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Total assets $ 12,860
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Total current liabilities $ 4,279
Total long-term liabilities 4,531
Minority interest 656
Total shareholders' equity 3,394
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Total liabilities and equity $ 12,860
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ALPHA HOSPITALITY CORPORATION AND SUBSIDIARIES
Summary Consolidated Statements of Operations
(in thousands, except per share data)
Quarter Ended
June 30
2001 2000
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Revenues $ 2,289 $ 55
Costs and expenses (4,803) (1,220)
Noncash compensation -- 2,786
Minority Interest 431 --
Dividends on preferred stock (3,097) (6,194)
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Net Loss, applicable to common
shares (5,180) (4,573)
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Net loss per share,
Common and diluted $ (2.31) $ (2.67)
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To the extent the content of this press release includes forward-looking statements, they involve risks and uncertainties that are described from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company wishes to caution readers not to place undue reliance on such forward-looking statements, which statements are made pursuant to the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1994, and as such, speak only as of the date made. |
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