AmBase Corporation filed its quarterly report on Form 10-Q for the period ended September 30, 2026, with the Securities and Exchange Commission on October 28, 2026, reporting a net loss of $1.240 million for the third quarter and disclosing new litigation funding agreements with related parties totaling $9.0 million.

Key Highlights

  • Q3 2026 net loss: $1.240 million, compared to a net loss of $1.091 million in Q3 2025, according to the filing.
  • Nine-month net loss: $2.751 million for the nine months ended September 30, 2026, versus $3.766 million for the same period in 2025.
  • Accumulated deficit: $563.876 million as of September 30, 2026, up from $561.125 million at December 31, 2025.
  • Total assets: $106 thousand as of September 30, 2026, consisting entirely of cash and cash equivalents.
  • Litigation funding agreements: New related-party agreements totaling $9.0 million - $7.0 million with Mr. R.A. Bianco and $2.0 million with BARC Investments LLC - recorded on the balance sheet.
  • Total stockholders' deficit: $(11.436) million at September 30, 2026, compared to $(8.685) million at December 31, 2025.
  • Shares outstanding: 84,938,211 shares of common stock outstanding at October 26, 2026.

AmBase Corporation Q3 2026 Financial Position and Litigation Funding Activity

According to the filing, AmBase Corporation reported total operating expenses of $1.213 million for the three months ended September 30, 2026, compared to $985 thousand for the same quarter in 2025. The largest components of Q3 2026 operating expenses were professional and outside services at $896 thousand and compensation and benefits at $263 thousand. The company reported no revenues in either period, resulting in an operating loss equal to total operating expenses.

The company's condensed consolidated balance sheet as of September 30, 2026 reflected total assets of $106 thousand, all in cash and cash equivalents, against total liabilities of $2.542 million and two newly established litigation funding agreements recorded separately: $7.0 million with related party Mr. R.A. Bianco and $2.0 million with related party BARC Investments LLC. The filing disclosed that during the nine-month period, $4.0 million of loans payable to Mr. R.A. Bianco and $2.0 million of loans payable to BARC Investments LLC were converted into these litigation funding agreements as non-cash transactions. Additionally, accrued interest payable of $219 thousand was reclassified to loans payable for Mr. R.A. Bianco, and $200 thousand was reclassified for BARC.

Net cash used by operating activities was $3.353 million for the nine months ended September 30, 2026. Financing activities provided $3.372 million, primarily through $3.0 million in proceeds from the litigation funding agreement with Mr. R.A. Bianco and $400 thousand in proceeds from related-party loans. The net change in cash and cash equivalents for the nine-month period was $19 thousand, bringing the ending balance to $106 thousand. The filing states the securities registered under Section 12(b) of the Act are listed as "None," indicating no exchange-listed securities.

What Was Disclosed

AmBase Corporation reported a Q3 2026 net loss of $1.240 million and a nine-month net loss of $2.751 million, with total assets of $106 thousand and an accumulated deficit of $563.876 million. New related-party litigation funding agreements totaling $9.0 million were established during the period.