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ST. LOUIS--(BUSINESS WIRE)--The Marketing Alliance, Inc. (OTC: MAAL) (TMA or the Company), today announced financial results for its fiscal 2021 second quarter ended September 30, 2020. FY 2021 Second Quarter Financial Highlights (all comparisons to the prior year period) Management Comments Timothy M. Klusas, TMAs Chief Executive Officer, commented, The results during the quarter were a testament to the adaptability of our associated agencies, carriers, and our internal team. Our insurance business accelerated its transition to solutions that utilized the Companys capabilities through our call center and adoption of digital applications where clients do not need to physically see an agent or handle paper. This provided agents with the ability to continue assisting customers with their life insurance needs despite challenges created from the reduction of in-person contact, such as conducting medical exams and obtaining physical signatures necessary for completing the insurance application process. Throughout the quarter we were able to work with our agencies to bring insurance applications to completion in a manner that met the customers expectations and level of comfort with personal contact. The execution of our construction business in the quarter was exceptional, as a large project was pulled forward which should allow for additional projects this year before winter weather slows progress. Mr. Klusas concluded, Our family entertainment business reported minimal revenues during the period as locations remained closed to the public. Due to the uncertainty of the business for the foreseeable future, we wrote-down asset values in prior periods and continued to evaluate operations on an ongoing basis. We permanently closed two additional locations during the quarter, leaving two remaining locations Quarterly Dividend Distribution During the quarter, the Companys Board of Directors declared a $0.06 per share cash dividend for shareholders of record on September 22, 2020, which was paid on September 30, 2020. In June 2020, the Company announced a change in its distribution plan to move to declare dividend distributions on a quarterly basis to have the benefit of the most recent information to make these decisions. Fiscal 2021 Second Quarter Financial Review Fiscal 2020 Six Months Financial Review Balance Sheet Information About The Marketing Alliance, Inc. Headquartered in St. Louis, MO, TMA provides support to independent insurance brokerage agencies, with a goal of integrating insurance and insurtech engagement platforms to provide members value-added services on a more efficient basis than they can achieve individually. Investor information can be accessed through the shareholder section of TMAs website at: http://www.themarketingalliance.com/shareholder-information. TMAs common stock is quoted on the OTC Markets (http://www.otcmarkets.com) under the symbol MAAL. Forward Looking Statement Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect TMA's business and prospects. Examples of forward-looking statements include, among others, statements we make regarding our expectations for our performance, and our ability and intent to pay dividends in future periods and the production of favorable returns to shareholders, our ability to obtain industry acceptance and competitive advantages of a multi-carrier digital platform for life insurance applications, our expectations with respect to the distribution of new life insurance products, the effects of ongoing uncertainty regarding our annuity business and our ability to continue to diversify our earth moving and excavating business. Any forward-looking statements contained in this press release represent our estimates, expectations or intentions only as of the date hereof, or as of such earlier dates as are indicated, and should not be relied upon as representing our views as of any subsequent date. These statements involve a number of risks and uncertainties, including, but not limited to, the effect of the COVID-19 pandemic on our business, financial condition and results of operations, as well as the pandemics effect of heightening other risks within our business, privacy and cyber security regulations, expectations of the economic environment; material adverse changes in economic conditions in the markets we serve and in the general economy; future state and federal regulatory actions and conditions in the states in which we conduct our business; our ability to work with carriers on marketing, distribution and product development; pricing and other payment decisions and policies of the carriers in our insurance distribution business, changes in the public securities markets that affect the value of our investment portfolio, weather and environmental conditions in the areas served by our earth moving and excavation business, the integration of our operations with those of businesses or assets we have acquired or may acquire in the future and the failure to realize the expected benefits of such acquisition and integration. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. CONSOLIDATED STATEMENTS OF OPERATIONS Three and Six Months Ended September 30, 2020 and September 30, 2019 Unaudited Three Months Ended Six Months Ended September 30, September 30, 2020 2019 2020 2019 Insurance commission and fee revenue $ 7,209,629 $ 7,176,583 $ 14,588,335 $ 14,829,512 Family entertainment revenue 8,244 910,360 12,455 1,769,694 Construction revenue 951,661 576,280 1,170,310 979,621 Other operating revenue - 32,500 - 52,600 Total revenues 8,169,534 8,695,723 15,771,100 17,631,427 Insurance distributor related expenses: Distributor bonuses and commissions 5,505,102 5,529,122 11,147,920 11,262,094 Business processing and distributor costs 459,176 389,057 886,218 776,214 Depreciation 6,600 1,650 13,200 2,700 5,970,878 5,919,829 12,047,338 12,041,008 Costs of construction: Direct and indirect costs of construction 381,360 366,637 495,825 792,997 Depreciation 47,995 20,800 63,595 31,200 429,355 387,437 559,420 824,197 Family entertainment costs of sales 11,956 269,150 32,842 477,395 Total costs of revenues 6,412,189 6,576,416 12,639,600 13,342,600 Net operating revenue 1,757,345 2,119,307 3,131,500 4,288,827 Operating expenses 1,215,427 1,968,629 2,635,665 3,961,487 Operating income 541,918 150,678 495,835 327,340 Other income (expense): Investment gain, net 200,423 93,800 740,992 383,178 Interest expense (52,163 ) (86,448 ) (99,292 ) (174,228 ) Interest rate swap, fair value adjustment loss - (6,697 ) (216 ) (32,987 ) Interest rate swap settlement income (217 ) 3,777 (3,063 ) 9,100 Net loss on disposal of property, equipment, and operating entities 45,995 - 20,865 - Income before provision for income taxes 735,956 155,110 1,155,121 512,403 Income tax expense 170,000 34,400 270,600 113,500 Net income $ 565,956 $ 120,710 $ 884,521 $ 398,903 Average Shares Outstanding 8,032,266 8,032,266 8,032,266 8,032,266 Operating Income per Share $ 0.07 $ 0.02 $ 0.06 $ 0.04 Net Income per Share $ 0.07 $ 0.02 $ 0.11 $ 0.05 CONSOLIDATED BALANCE SHEETS As of September 30, 2020 and March 31, 2020 Unaudited September 30, 2020 March 31, 2020 ASSETS Cash and cash equivalents $ 1,084,317 $ 2,130,973 Investments 4,696,075 6,762,510 Restricted Cash 509,685 - Receivables 12,747,342 12,642,870 Other 387,856 716,576 Total current assets 19,425,275 22,252,929 Property and Equipment, net 911,693 1,072,685 Restricted Cash 3,490,315 - Operating lease right-of-use assets 2,004,170 3,091,711 Other 753,246 907,540 Total Non Current Assets 7,159,424 5,071,936 Total Assets $ 26,584,699 $ 27,324,865 LIABILITIES AND SHAREHOLDERS' EQUITY Total Current Liabilities 12,223,043 12,011,535 Total Long-term Liabilities 7,059,704 8,014,211 Total Liabilities 19,282,747 20,025,746 Total Shareholders' Equity 7,301,952 7,299,119 Total Liabilities and Shareholders' Equity $ 26,584,699 $ 27,324,865 Note Operating EBITDA (excluding investment portfolio income) Fiscal 2021 second quarter operating EBITDA (excluding investment portfolio income) was determined by adding fiscal 2021 second quarter operating income of $541,918 and depreciation and amortization expense of $79,651 for a total of $621,569. Fiscal 2020 second quarter operating EBITDA (excluding investment portfolio income) was determined by adding fiscal 2020 second quarter operating income of $150,678 and depreciation and amortization expense of $142,066 for a total of $292,744. Fiscal 2021 six months operating EBITDA (excluding investment portfolio income) was determined by adding fiscal 2019 six-month operating income of $495,835 and depreciation and amortization expense of $186,962 for a total of $682,797. Fiscal 2020 six months operating EBITDA (excluding investment portfolio income) was determined by adding fiscal 2019 six-month operating income of $327,340 and depreciation and amortization expense of $275,385 for a total of $602,725. The Company elects not to include investment portfolio income because the Company believes it is non-operating in nature. The Company uses Operating EBITDA as a measure of operating performance. However, Operating EBITDA is not a recognized measurement under U.S. generally accepted accounting principles, or GAAP, and when analyzing its operating performance, investors should use Operating EBITDA in addition to, and not as an alternative for, income as determined in accordance with GAAP. Because not all companies use identical calculations, its presentation of Operating EBITDA may not be comparable to similarly titled measures of other companies and is therefore limited as a comparative measure. Furthermore, as an analytical tool, Operating EBITDA has additional limitations, including that (a) it is not intended to be a measure of free cash flow, as it does not consider certain cash requirements such as tax payments; (b) it does not reflect changes in, or cash requirements for, its working capital needs; and (c) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized often will have to be replaced in the future, and Operating EBITDA does not reflect any cash requirements for such replacements, or future requirements for capital expenditures or contractual commitments. To compensate for these limitations, the Company evaluates its profitability by considering the economic effect of the excluded expense items independently as well as in connection with its analysis of cash flows from operations and through the use of other financial measures. The Company believes Operating EBITDA is useful to an investor in evaluating its operating performance because it is widely used to measure a companys operating performance without regard to certain non-cash or unrealized expenses (such as depreciation and amortization) and expenses that are not reflective of its core operating results over time. The Company believes Operating EBITDA presents a meaningful measure of corporate performance exclusive of its capital structure, the method by which assets were acquired and non-cash charges, and provides additional useful information to measure performance on a consistent basis, particularly with respect to changes in performance from period to period.

Answer: The Marketing Alliance Announces Financial Results for its Fiscal 2021 Second Quarter Ended September 30, 2020