secwatch.observer — SEC 8-K summary
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Issuer:     MAUI LAND & PINEAPPLE CO INC (MLP)
CIK:        0000063330
Form:       8-K
Filed at:   2024-11-14T23:59:59+00:00
Accession:  0001437749-24-035389
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Maui Land & Pineapple Q3 revenue up 18.6% but net loss widens to $5.5M
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- Nine-month revenue $8.15M (+$1.28M YoY) driven by leasing (+$899K) and resort amenities (+$201K).
- Net loss $5.48M ($0.28 per basic share) vs. $3.67M loss in 2023, due to $4.68M non-cash share-based comp and $321K CEO severance.
- Adjusted EBITDA (non-GAAP) was -$138K for nine months; severance payments to former CEO continue through Q1 2025.
- Leased commercial area up ~19%; cash spent $1.06M on tenant improvements, $984K on land development projects.
- Leased ~50 acres to State of Hawaii at no cost for temporary housing; state funds ~$35.5M infrastructure.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63330/000143774924035389/0001437749-24-035389-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63330/000143774924035389/mlp20241109_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-035389

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