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Trinity Place Holdings Inc. Reports Third Quarter Financial Results

TPHS
  • Trinity Place Holdings Inc. (OTC PINK: TPHS) announced operating results for the third quarter ended September 30, 2026.
  • The company operates as an intellectual property holding entity monetizing assets from its Syms Corp. predecessor, including FilenesBasement.com, the Running of the Brides® event, and the An Educated Consumer is Our Best Customer® slogan.
  • As of September 30, 2026, the company held federal net operating loss carryforwards of approximately $352.8 million, with $224.5 million expiring by 2037 if unused.
  • A valuation allowance of $74.1 million was recorded against deferred tax assets due to the likelihood that federal NOLs will not be realized.
  • The certificate of incorporation restricts stock transfers that would cause any person or group to reach or change a 4.75 percent stock ownership level to preserve tax benefits.
  • Total assets were $153,000 as of September 30, 2026, down from $323,000 at December 31, 2025.
  • Cash and cash equivalents decreased to $74,000 from $216,000 at the end of 2025.
  • Total liabilities increased to $1,947,000 from $1,703,000, driven by a note payable of $1,699,000.
  • The company reported a net loss of $116,000 for the three months ended September 30, 2026, with no revenue generated during the period.
  • For the nine months ended September 30, 2026, the company reported a net loss of $414,000 and zero revenue compared to $239,000 in revenue in the same period of 2025.
  • Stockholders' deficit increased to $1,794,000 from $1,380,000 at the end of 2025.
  • Net cash used in operating activities for the nine months ended September 30, 2026, was $406,000.
  • Cash provided by financing activities for the nine-month period totaled $250,000 from proceeds on a Steel Promissory Note.
  • The company has 64,947,266 common shares outstanding as of September 30, 2026.