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Midas Edge

MAUI LAND & PINEAPPLE CO INC

For the period ended Jun 30, 2026. Filed Aug 14, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 14, 2026

MLP$15.64+2.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED BALANCE SHEETS

June 30, 2026December 31, 2025
(audited)(audited)
(in thousands except share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents$3,282$5,295
Accounts receivable, net1,6741,371
Prepaid expenses and other assets910608
Assets held for sale1,7921,827
Total current assets7,6589,101
PROPERTY & EQUIPMENT, NET18,85218,243
OTHER ASSETS
Deferred development costs - Development projects17,33415,720
Deferred development costs - Agave ventures2,4851,680
Right of use assets510518
Other noncurrent assets2,7862,706
Total other assets23,11520,624
TOTAL ASSETS$49,625$47,968
LIABILITIES & STOCKHOLDERS' EQUITY
LIABILITIES
CURRENT LIABILITIES
Accounts payable$1,608$2,774
Payroll and employee benefits8571,159
Accrued retirement benefits, current portion1,5981,620
Deferred revenue, current portion975833
Long-term debt, current portion10285
Lease liability, current portion128106
Other current liabilities1,282786
Total current liabilities6,5507,363
LONG-TERM LIABILITIES
Line of credit8,5004,000
Deferred revenue, noncurrent portion1,0331,100
Deposits1,9141,927
Long-term debt, noncurrent portion190102
Lease liability, noncurrent portion380413
Total long-term liabilities12,0177,542
TOTAL LIABILITIES18,56714,905
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock--$0.0001 par value; 5,000,000 shares authorized; no shares issued and outstanding--
Common stock--$0.0001 par value; 43,000,000 shares authorized; 19,876,696 and 19,755,431 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively88,65887,580
Additional paid-in-capital17,95117,346
Accumulated deficit(75,275)(71,587)
Accumulated other comprehensive loss(276)(276)
Total stockholders' equity31,05833,063
TOTAL LIABILITIES & STOCKHOLDERS' EQUITY$49,625$47,968

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

Three Months Ended June 30,
20262025
(in thousands except
per share amounts)
OPERATING REVENUES
Land leasing and management$1,502$1,294
Agribusiness ventures--
Land development and sales2351,438
Commercial real estate leasing1,9611,870
Total operating revenues3,6984,602
OPERATING COSTS AND EXPENSES
Land leasing and management1,3241,059
Agribusiness ventures3935
Land development and sales2871,181
Commercial real estate leasing907914
General and administrative1,6851,027
Share-based compensation995742
Depreciation257355
Total operating costs and expenses5,4945,313
OPERATING LOSS(1,796)(711)
Other income289349
Pension and other post-retirement expenses(20)(582)
Interest expense(101)(55)
NET LOSS$(1,628)$(999)
Other comprehensive income - pension, net--
TOTAL COMPREHENSIVE LOSS$(1,628)$(999)
NET LOSS PER COMMON SHARE-BASIC AND DILUTED$(0.08)$(0.05)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

Six Months Ended June 30,
20262025
(in thousands except
per share amounts)
OPERATING REVENUES
Land leasing and management$2,689$2,529
Agribusiness ventures--
Land development and sales4924,056
Commercial real estate leasing3,9163,821
Total operating revenues7,09710,406
OPERATING COSTS AND EXPENSES
Land leasing and management3,1081,741
Agribusiness ventures9335
Land development and sales6244,119
Commercial real estate leasing1,6791,626
General and administrative2,9822,514
Share-based compensation1,9322,321
Depreciation490541
Total operating costs and expenses10,90812,897
OPERATING LOSS(3,811)(2,491)
Gain on assets disposal, net-1
Other income327455
Pension and other post-retirement expenses(41)(7,501)
Interest expense(163)(103)
NET LOSS$(3,688)$(9,639)
Other comprehensive income - pension, net-79
TOTAL COMPREHENSIVE LOSS$(3,688)$(9,560)
NET LOSS PER COMMON SHARE-BASIC AND DILUTED$(0.19)$(0.49)

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’** EQUITY**

Accumulated
Additional · Other
Common Stock · Paid in · Accumulated · Comprehensive
SharesAmountCapitalDeficitLossTotal
Balance, December 31, 2025 (audited)19,755$87,580$17,346$(71,587)$(276)$33,063
Share-based compensation57954674--1,628
Vested restricted stock issued20355(355)---
Shares cancelled to pay tax liability(35)(581)---(581)
Other comprehensive income - pension------
Net loss---(2,059)-(2,059)
Balance, March 31, 202619,797$88,308$17,665$(73,646)$(276)$32,051
Share-based compensation--727--727
Vested restricted stock issued85442(442)---
Shares cancelled to pay tax liability(5)(92)---(92)
Other comprehensive income - pension------
Net loss---(1,628)-(1,628)
Balance, June 30, 202619,87788,65817,950(75,274)(276)31,058
Balance, December 31, 2024 (audited)19,664$85,877$15,202$(61,008)$(6,890)33,181
Share-based compensation448641,436--2,300
Vested restricted stock issued13262(262)---
Shares cancelled to pay tax liability(3)(204)---(204)
Other comprehensive income - pension----7979
Net loss---(8,640)-(8,640)
Balance, March 31, 202519,71886,79916,376(69,648)(6,811)26,716
Share-based compensation--597--597
Vested restricted stock issued13273(273)---
Shares cancelled to pay tax liability(1)(20)---(20)
Other comprehensive income - pension------
Net loss---(999)-(999)
Balance, June 30, 202519,730$87,052$16,700$(70,647)$(6,811)$26,294
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.