Kent Financial Services - Consolidated Statement of Operations...

Kent Financial Services - Recent Material Event

Item 1.	Financial Statements

Consolidated Balance Sheet as of September 30, 2007

Consolidated Statement of Operations for the Three and Nine Months Ended September 30, 2007 and 2006

Consolidated Statement of Cash Flows Nine Months Ended September 30, 2007 and 2006

Notes to Consolidated Financial Statements

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 3.	Controls and Procedures

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds

Item 3.	Defaults Upon Senior Securities

Item 4.	Submission of Matters to a Vote of Security Holders

Item 5.	Other Information

Item 6.	Exhibits

Signatures

Table of Contents

PART I -

FINANCIAL INFORMATION

Item 1. -

Financial Statements

KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET

As of September 30, 2007

(UNAUDITED)

($000 Omitted, except share and per share amounts)

ASSETS

Current Assets:
Cash and cash equivalents	$
Short-term investments		12,418
Marketable securities
Accounts receivable
Prepaid expenses and other current assets

Total current assets		12,722

Property and equipment, net of accumulated depreciation of $1

Goodwill

Other assets

Total assets	$	12,916

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payable and accrued expenses	$

Noncurrent liabilities:
Accrued post employment obligations

Minority interest in subsidiaries		5,090

Stockholders' equity:
Preferred stock without par value; 500,000 shares authorized; none outstanding		-
Common stock, $.10 par value; 8,000,000 shares authorized; 2,792,250 shares issued and outstanding
Additional paid-in capital		12,414
Accumulated deficit		(5,834	)
Accumulated other comprehensive income

Total stockholders' equity		6,860

Total liabilities and stockholders' equity	$	12,916

See accompanying notes to consolidated financial statements.

Table of Contents

KENT FINANCIAL SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

($000 Omitted, except per share data)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,

Revenues:
Seminar fees	$			$			$			$
Interest
Investing gains
Sale of patent rights by subsidiary
Other income

Total revenues

Expenses:
General and administrative								1,426			1,361
Write off capitalized software costs

Total expenses								1,464			1,361

Loss before income taxes, minority interest and extraordinary gain		(230	)		(141	)		(503	)		(543	)
Provision for income tax benefit (expense)					(1	)					(8	)
Loss before minority interest and extraordinary gain		(230	)		(142	)