VIRGINIA BEACH, VA--(Marketwired - Sep 26, 2013) - JTH Holding, Inc. (NASDAQ: TAX) (the "Company"), the parent company of Liberty Tax Service, today reported that it has completed its restatement of fiscal years 2012 and 2011 and is reporting its results for the fiscal year ended April 30, 2013.All amounts included in this press release reflect the impact of the restatement.The Company continues to expect to file its Annual Report on Form 10-K for the year ended April 30, 2013 and its Quarterly Report on Form 10-Q for the quarter ended July 31, 2013 with the Securities and Exchange Commission (SEC) by October 14, 2013, the date its plan for listing compliance is due to the NASDAQ.

"We have been working diligently and are pleased to have the restatement of our annual financial statements completed and we are reporting our fiscal 2013 results.The restatement affected the timing of when we recognized a portion of our revenues, but our underlying business and goals have not changed," said Mark Baumgartner, CFO."Now that the accounting for the restatement is behind us, we have turned our attention to completing our SEC filings, including amending our previously filed fiscal 2013 10-Qs."

RestatementAs previously announced, the Company changed certain of its accounting policies in regards to the timing of revenue recognition for area developer and franchise fees.The policy changes approved by the Audit Committee of the Company's Board of Directors that are reflected in the restatement included:

As a result of the restatement, the Company estimates that non-recurring, pre-tax costs incurred during fiscal year 2014 attributable to the restatement will be in the range of $700,000 - $850,000.Additionally, since late August, the Company has been unable to renew its franchise disclosure documents with updated financial statements and is therefore unable to sell franchises until its annual financial statements are completed and franchise disclosure documents are up-to-date, which is expected to occur in October.

At the end of fiscal year 2013, due to changes in the Company's revenue recognition policies, the Company had a balance of $39.7 million in the unrecognized revenue portion of notes receivable and $16.9 million of deferred revenue, totaling $56.6 million in unrecognized revenue.Of the $56.6 million, $38.0 million was related to area developer fees and will be recognized over a weighted-average period of 4 years, subject to the receipt of payments on the notes receivable.The remaining $18.6 million is related to franchise fees and gains on the sale of company-owned offices, and the note balances associated with that revenue will be recognized over a weighted-average period of 2 years, subject to the receipt of payments on the notes receivable.

Fiscal Year 2013 Highlights

"Even with all the challenges this year presented, we are pleased that we were able to grow our market share and increase the number of customers we served during fiscal 2013 by 4%," said John Hewitt, Chairman and CEO."At our annual franchise convention in early June, we received great feedback from our franchisees on things we did well and things we need to improve on.The morale of the franchisee base is high as we prepare for another year of working closely with them to grow the business."

RevenuesRevenues for fiscal year 2013 increased 12.5% to $147.6 million compared to $131.2 million in the prior year period.The increase in revenue was driven primarily by increases in royalties and advertising fees, tax preparation fees and financial product revenue.The increase in royalties and advertising fees was the result of a 6.2% increase in systemwide revenue versus the prior year period.Tax preparation fees increased due to the higher number of company-owned offices because of the operation of Walmart kiosks and an increase in the number of returns processed through the Company's online product, eSmart.The increase in financial product revenue was a result of processing more products in-house through the Company's subsidiary, JTH Financial.

Operating ExpensesOperating expenses for fiscal year 2013 increased 13.1% to $116.8 million compared to $103.2 million in the prior year period. The increase was primarily due to an increase in employee compensation and benefits for personnel to support anticipated growth, operating additional company-owned offices and stock compensation expense.

During the fourth quarter of fiscal year 2013, the cash settlement of certain stock option transactions caused the accounting treatment of some of the outstanding stock options to change from being classified as equity instruments to liability instruments.This caused a one-time increase in stock compensation expense of $2.6 million, pre-tax, during the fourth quarter of fiscal 2013.On June 7, 2013, the Board of Directors approved a new policy regarding the settlement of stock options.As a result, these options returned to being classified as equity instruments in the first quarter of fiscal 2014, which generated a one-time decrease in stock compensation expense during the first quarter of approximately $872,000, pre-tax.

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Liberty Tax Service Reports Fiscal Year 2013 Results Including Restatement of Fiscal Years 2011 and 2012

On Sep 24, 2013, we reinstated our long-term recommendation on Liberty Property Trust (LRY) at Neutral. The move depicts the companys decent second-quarter results, strategic efforts to improve its core operations and a conservative balance sheet management. Yet, stiff competition, rising interest rates and a volatile office sector remain our plausible concerns.

Why Neutral?

Driven by improving market fundamentals, strong leasing and development activities, Liberty Propertys second-quarter 2013 FFO (funds from operations) per share of 66 cents surpassed the year-ago figure by 4.8%. However, it came in line with the Zacks Consensus Estimate as the positive impact was marred by a rise in operating expenses.

Nevertheless, we expect Liberty Property to benefit from its focus on metro-office, multi-tenant industrial and flex properties and markets that have strong demographic and economic fundamentals. Furthermore, with its solid portfolio repositioning program, the company is efficiently meeting the rising demand for premium quality industrial space.

In addition, this Pa.-based real estate investment trust (:REIT) aims to strengthen its balance sheet and liquidity position, which helps it fund investments. In relation to this, the recent senior notes offering and equity shares offering to finance the acquisition of the operating partnership of Cabot Industrial Value Fund III is noteworthy.

Yet, continued volatility in the office sector with job cuts and stiff competition from private and public companies remain our concerns. Also, Liberty Propertys large development pipeline and continuous acquisition spree involves significant upfront operating expenses with limited near-term profitability. Moreover, the rise in interest rates and the capital market volatility adversely affect the companys funding expenses.

Over the last 30 days, the Zacks Consensus Estimate for 2013 FFO per share declined 1.9% to $2.59. Also, for 2014 it moved down 0.4% to $2.72 per share. The stock currently has a Zacks Rank #3 (Hold).

Other Stocks to Consider

Better performing REITs that are worth a look include Sovran Self Storage Inc. (SSS), SL Green Realty Corp. (SLG) and Douglas Emmett Inc (DEI). All the stocks carry a Zacks Rank #2 (Buy).

Note: FFO, a widely accepted and reported measure of the performance of REITs is derived by adding depreciation, amortization and other non-cash expenses to net income.

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Liberty Property Pinned at Neutral

Lovelock, NV, Sept. 25, 2013 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (FLPC), an innovative and diversified mine exploration and development company focused on "Mined in America" strategic industrial minerals, recently brought their management team together in Lovelock, Nevada to review final Fencemaker mining preparations. According to FLPC CEO, Don Nicholson, the meeting included board members as well as strategic partners.

"For the last two years First Liberty Power has developed and advanced though the efforts of a management team and strategic partners located around the world," Nicholson said. "With Fencemaker close to production, it was important that we all came together in Lovelock and at the mine location, for the purpose of an on-site, step by step review of Fencemaker progress to date as well as the timeline to mining, milling and sales."

James Vogan, of Stockpile Reserves, LLC is the operational director of the Fencemaker project. From his perspective, bringing a small mine all the way through from exploration to production is a challenge not met by many companies. "There are few small mining ventures still operating in the United States, and none of those are producing antimony," Vogan said. "The work we have done to bring Fencemaker into a mine that will soon be producing and selling a strategic industrial metal is a testament to the foresight, integrity and strategic planning of SRL, First Liberty Power and Small Mine Development, LLC."

The timetable for Fencemaker mining is contingent upon the installation of culvert drainage pipes and water management tanks, already underway, and a final operational site inspection. In addition, First Liberty CFO Mario Beckles addressed revenue and inventory cycles. "As First Liberty Power moves toward mining we are developing and implementing financial controls around revenue and inventory," Beckles said. That way, from day one of actual mining, we are fully prepared to monitor all production, costs and sales."

FLPC will continue to use Pathways of Progress announcements to inform and update all interested parties of advancements in our mining and financial operations.

ABOUT FIRST LIBERTY POWER CORPORATION (FLPC):First Liberty Power Corporation is an innovative and diversified mine exploration and development company focused on bringing to market "Mined in America" strategic industrial minerals. The FLPC corporate philosophy is driven by a dedication to Pathways of Progress (POP). It is a program of best corporate practices designed to rapidly drive the company towards mine production/milling, benefitting FLPC shareholders, investors and mining partners and ensuring safety, environmental integrity, and good governance. Presently, FLPC has interests in four properties: the Fencemaker antimony project in Nevada, the Lida Valley and Smoky Valley lithium brine projects in Nevada, and the San Juan vanadium/uranium project in Utah.

http://www.firstlibertypower.com or http://www.facebook.com/FirstLibertyPower

Notice Regarding Forward-Looking Statements

This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future plans of the company, the prospects for our mineral properties, and our ability to raise necessary working capital.

Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the SEC.

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First Liberty Power Finalizes Fencemaker Launch Plans

ENGLEWOOD, Colo.--(BUSINESS WIRE)--

Liberty Media Corporation ("Liberty") (Nasdaq: LMCA, LMCB) today announced the 2014 Media for Liberty Award jury panel. Now in its 5th consecutive year, this $50,000 award seeks to acknowledge and promote outstanding media contributions that explore the relationship between economic and political liberty.

The distinguished Media for Liberty panel includes thought leaders in the world of journalism and media:

Eligible works must be originally published or broadcast via print or electronic media during the 2013 calendar year, and received by Liberty Media no later than January 8, 2014. For the first time this year, Liberty will be accepting online submissions of entries.

Submitted works will be reviewed by a jury panel and evaluated based on the degree to which the theme is addressed, inspirational and educational value, relevance to the public discourse, and mastery of media format.

Past recipients of the award have been those which have gone above and beyond to uncover societal and political truths. Those winners include:

Eligibility Requirements

Eligible media outlets, including newspapers, magazines, journals, radio, television and websites, must be generally recognized in their markets and accessible to a broad audience in the United States.

The winner will be notified in February 2014. An awards ceremony will be held in the Spring of 2014 in Washington, D.C.

For more information on the Media for Liberty Award, including entry forms, rules, judging criteria the most recent and past honorees can be found at:

See the article here:

Media for Liberty Award Announces 2014 Jury Panel

TUCSON, Ariz.--(BUSINESS WIRE)--

Liberty Star Uranium & Metals Corp. (Liberty Star or the Company) (OTCQB: LBSR) today announced that it has retained the services of AGORACOM Investor Relations ("AGORACOM") (http://www.agoracom.com) to provide online investor relations services. AGORACOM will specifically provide an online investor relations community for current shareholder communications, in addition to online marketing through search engines, social media networks and Tier-1 financial content partners for the purpose of attracting new shareholders.

Online investor relations maximizes the speed of communication, the degree of transparency and the access to company information. In response to overwhelming research data being generated by small-cap investors, the Company selected online investor relations to facilitate faster and more efficient communications with both current and prospective shareholders around the world.

Effective immediately, a customized and monitored Liberty Star Uranium & Metals Corp. IR HUB will be available at http://agoracom.com/ir/libertystar, allowing management to communicate with shareholders anytime and in near real time through an electronic shareholder forum http://agoracom.com/ir/libertystar/forums/discussion.

Moreover, the IR HUB will provide Company management with the ability to extend communications beyond text via audio messages, video presentations, Google Hangout Interviews, webcasts and podcasts.

James Briscoe, CEO/Chief Geologist, commented, "We are excited to commence this campaign to both increase communications with our existing shareholders and to attract new shareholders to our company."

James A. Briscoe James A. Briscoe, Professional Geologist, AZ CA CEO/Chief Geologist Liberty Star Uranium & Metals Corp.

About AGORACOM

AGORACOM Investor Relations (http://www.AgoracomIR.com) is North America's largest online investor relations firm for small-cap companies. It has partnered with some of the world's largest internet and mobile companies to market its clients to a massive audience of new small-cap investors. It has served over 250 small-cap public companies and its industry pioneering online investor relations platform (http://www.Agoracom.com) has held an Alexa traffic ranking above the top 0.5% of all websites around the world since 2007. AGORACOM averages 1.1 million investors, 6.8 million visits and 66 million page views annually.

About Liberty Star Uranium & Metals Corp.

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Liberty Star Launches Online Investor Relations Program via AGORACOM