Trinity Place Holdings Files Q3 2024 10-Q

TL;DR

**TPHS Q3 10-Q filed. Financials updated. Real estate ops continue.**

AI Summary

Trinity Place Holdings Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial information including retained earnings, additional paid-in capital, and accumulated other comprehensive income as of various dates in 2023 and 2024. The company's principal business is the operation of nonresidential buildings.

Why It Matters

This filing provides investors with an update on Trinity Place Holdings' financial position and performance for the third quarter of 2024, crucial for assessing the company's stability and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative events indicated in the provided snippet.

Key Numbers

• N/A — Retained Earnings (Financial metric reported as of various dates in 2023 and 2024.)
• N/A — Additional Paid-In Capital (Financial metric reported as of various dates in 2023 and 2024.)
• N/A — Accumulated Other Comprehensive Income (Financial metric reported as of various dates in 2023 and 2024.)

Key Players & Entities

• Trinity Place Holdings Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2023-12-31 (date) — End of the prior fiscal year
• 2023-09-30 (date) — Prior year's third quarter end

FAQ

Key Financial Figures

• $0.01 — he registrant's common stock, par value $0.01 per share, outstanding. Table of Conte

Filing Documents

• tphs-20240930x10q.htm (10-Q) — 1672KB
• tphs-20240930xex31d1.htm (EX-31.1) — 12KB
• tphs-20240930xex31d2.htm (EX-31.2) — 11KB
• tphs-20240930xex32d1.htm (EX-32.1) — 7KB
• tphs-20240930xex32d2.htm (EX-32.2) — 7KB
• 0001558370-24-015743.txt ( ) — 7119KB
• tphs-20240930.xsd (EX-101.SCH) — 56KB
• tphs-20240930_cal.xml (EX-101.CAL) — 53KB
• tphs-20240930_def.xml (EX-101.DEF) — 224KB
• tphs-20240930_lab.xml (EX-101.LAB) — 460KB
• tphs-20240930_pre.xml (EX-101.PRE) — 344KB
• tphs-20240930x10q_htm.xml (XML) — 1107KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 36 Item 4.

Controls and Procedures

Controls and Procedures 36 PART II. OTHER INFORMATION 37 Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements (unaudited)

Item 1. Condensed Consolidated Financial Statements (unaudited) TRINITY PLACE HOLDINGS INC. CONSOLIDATED BALANCE SHEETS (unaudited) (In thousands, except par value and share amounts) September 30, December 31, 2024 2023 ASSETS Real estate, net $ — $ 62,324 Residential condominium units for sale — 184,561 Cash and cash equivalents 505 264 Restricted cash 743 8,081 Prepaid expenses and other assets, net 38 2,774 Pension asset 1,370 1,370 Receivables 134 356 Deferred rents receivable — 307 Right-of-use asset 213 519 Intangible assets, net — 6,952 Total assets $ 3,003 $ 267,508 LIABILITIES Loans payable, net $ — $ 194,628 Corporate credit facility, net — 40,791 Secured line of credit — 11,750 Accounts payable and accrued expenses 296 28,273 Accrued professional fees 993 1,545 Lease liability 233 569 Total liabilities 1,522 277,556 Commitments and Contingencies STOCKHOLDERS' (DEFICIT) EQUITY Preferred stock, $ 0.01 par value; 40,000,000 shares authorized; no shares issued and outstanding — — Preferred stock, $ 0.01 par value; 2 shares authorized; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Special stock, $ 0.01 par value; 1 share authorized, issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.01 par value; 79,999,997 shares authorized; 72,487,481 and 44,965,083 shares issued at September 30, 2024 and December 31, 2023, respectively; 65,314,726 and 38,199,386 shares outstanding at September 30, 2024 and December 31, 2023, respectively 725 450 Additional paid-in capital 150,179 145,301 Treasury stock ( 7,172,755 and 6,765,697 shares at September 30, 2024 and December 31, 2023, respectively) ( 57,676 ) ( 57,637 ) Accumulated other comprehensive loss ( 1,897 ) ( 2,257 ) Accumulated deficit ( 89,850 ) ( 95,905 ) Total stockholders' equity (deficit) 1,481 ( 10,04

View Full Filing

View this 10-Q filing on SEC EDGAR