News Press Releases

BKF Capital Group, Inc. Releases Financial Statements For Periods Ending June 30, 2015 and September 30, 2015

BKFG | December 9, 2015

BKF Capital Group, Inc. (OTC:BKFG) hereby releases its financial statements for the three and six-month period ending June 30, 2015 and for the three and nine-month period ending September 30, 2015. The Board of Directors has approved a share repurchase plan, authorizing the Company to repurchase in the aggregate up to 1 million shares of its outstanding common stock, $1 par value, over the twelve (12) month period December 14, 2015 through December 13, 2016.

Under the program, shares may be repurchased from time to time in open market transactions at prevailing market prices or in privately negotiated purchases in accordance with federal securities laws. The actual timing, number, and value of shares repurchased under the program will be determined by management in its sole discretion and will depend on a variety of factors, such as market price, corporate and regulatory requirements, alternative investment opportunities, and other market and economic conditions. Repurchases under the program will be funded from available working capital. The program may be commenced, suspended or terminated at any time, or from time to time at management's discretion and without prior notice.


BKF CAPITAL GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)


				June 30,		December 31,
				2015		2014

		ASSETS
	Cash and cash equivalents		$	2,583	$	3,052
	Investment in Qualstar Corporation and Interlink Electronics			3,128		2,848
	Prepaid expenses and other current assets			9		15
		Total assets	$	5,720	$	5,915

		LIABILITIES AND STOCKHOLDERS' EQUITY
	Accrued expenses		$	16	$	52
		Total current liabilities		16		52

Stockholder's equity:
	Common stock, $1.00 par value: 15,000,000 shares authorized, 7,472
		shares outstanding at June 30, 2015 and December 31, 2014 respectively		7,472		7,472
	Additional paid-in-capital			68,270		68,270
	Accumulated deficit			(70,038)		(69,879)
		Total stockholders' equity		5,704		5,863
		Total liabilities and stockholders' equity	$	5,720	$	5,915

See accompanying notes to unaudited condensed consolidated financial statements


BKF CAPITAL GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)

			Three months ended				Six Months Ended
			June 30,				June 30,
			2015		2014		2015		2014
Non Operating Income
	Interest income		$	1	$	2	$	1	$	4
	Realized gains			-		35		-		35
		Total revenues		1		37		1		39

Expenses
	Employee compensation and benefits			24		26		49		50
	Occupancy and equipment rental			5		4		9		10
	Other operating expenses			39		35		42		69
		Total expenses		68		65		100		129

Loss on equity investment				(90)		(499)		(60)		(557)
Net loss			$	(157)	$	(527)	$	(159)	$	(647)

Net loss per common share - basic and diluted			$	(0.02)	$	(0.07)	$	(0.02)	$	(0.09)
Weighted average common shares outstanding - basic and diluted				7,472		7,472		7,472		7,472

See accompanying notes to unaudited condensed consolidated financial statements


BKF CAPITAL GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)


					Six Months Ended June 30,
						2015		2014
Cash flows from operating activities:
	Net loss				$	(159)	$	(647)
		Changes in operating assets and liabilities
			Realized gains			-		(35)
			Loss on equity investments			60		557
			Decrease in prepaid expenses and other assets			-		6
			Decrease in accrued expenses			(31)		(9)
				Net cash used in operating activities		(130)		(128)

Cash flows from investing activities:
	Purchase of investment securities					(339)		(830)
				Net cash used in investing activities		(339)		(830)

Net decrease in cash and cash equivalents						(469)		(958)
Cash and cash equivalents, beginning of period						3,052		5,898
Cash and cash equivalents, end of period					$	2,583	$	4,940

See accompanying notes to unaudited condensed consolidated financial statements


BKF CAPITAL GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except par value)


				September 30,		December 31,
				2015		2014

		ASSETS
	Cash and cash equivalents		$	2,546	$	3,052
	Investment in Qualstar Corporation and Interlink Electronics			3,121		2,848
	Prepaid expenses and other current assets			10		15
		Total assets	$	5,677	$	5,915

		LIABILITIES AND STOCKHOLDERS' EQUITY
	Accrued expenses		$	19	$	52
		Total current liabilities		19		52

Stockholder's equity:
	Common stock, $1.00 par value: 15,000,000 shares authorized, 7,472
		shares outstanding at June 30, 2015 and December 31, 2014 respectively		7,472		7,472
	Additional paid-in-capital			68,270		68,270
	Accumulated deficit			(70,084)		(69,879)
		Total stockholders' equity		5,658		5,863
		Total liabilities and stockholders' equity	$	5,677	$	5,915

See accompanying notes to unaudited condensed consolidated financial statements


BKF CAPITAL GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)


			Three months ended				Nine Months Ended
			September 30,				September 30,
			2015		2014		2015		2014
Non Operating Income
	Interest income		$	1	$	3	$	2	$	5
	Realized gains			-		-		-		35
		Total revenues		1		3		2		40

Expenses
	Employee compensation and benefits			21		33		70		83
	Occupancy and equipment rental			4		2		12		12
	Other operating expenses			16		41		59		108
		Total expenses		41		76		141		203

Loss on equity investment				(7)		(156)		(66)		(711)
Net loss			$	(47)	$	(229)	$	(205)	$	(874)

Net loss per common share - basic and diluted			$	(0.01)	$	(0.03)	$	(0.03)	$	(0.12)
Weighted average common shares outstanding - basic and diluted				7,472		7,472		7,472		7,472

See accompanying notes to unaudited condensed consolidated financial statements


BKF CAPITAL GROUP, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

					Nine Months Ended September 30,
						2015		2014
Cash flows from operating activities:
	Net loss				$	(205)	$	(874)
		Changes in operating assets and liabilities
			Realized gains			-		(35)
			Loss on equity investments			66		711
			Decrease in prepaid expenses and other assets			-		5
			Decrease in accrued expenses			(28)		(10)
				Net cash used in operating activities		(167)		(203)

Cash flows from investing activities:
	Purchase of investment securities					(339)		(830)
				Net cash used in investing activities		(339)		(830)

Net decrease in cash and cash equivalents						(506)		(1,033)
Cash and cash equivalents, beginning of period						3,052		5,898
Cash and cash equivalents, end of period					$	2,546	$	4,865

See accompanying notes to unaudited condensed consolidated financial statements

Cautionary Statement Concerning Forward-Looking Statements

Statements used in this press release that relate to future plans, events, financial results, prospects or performance are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon the current expectations and beliefs of the Company's management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, the Company does not expect to, and disclaims any obligation to, publicly update any forward-looking statements whether as a result of new information, future events or otherwise. For further information on these and other cautionary statements, please refer to the risk factors discussed in the Company’s filings with the U.S. Securities and Exchange Commission including, but not limited to, the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014.