 - Revenues and EBITDA Increased 133 and 672, respectively Over Prior Period For the Quarter Ended June 30, 2020, And Revenues and EBITDA Increased 138 and 303, respectively Over Prior Period For the Six Months Ended June 30, 2020Charlotte, North Carolina, Aug. 10, 2020 GLOBE NEWSWIRE -- Manufactured Housing Properties Inc. OTC:MHPC, which acquires, owns, and operates 20 manufactured housing communities containing approximately 1,308 developed sites, today announced operating results for the quarter and six months ended June 30, 2020. Total revenues and EBITDA for the quarter ended June 30, 2020 were 1,508,134 and 700,932, respectively, compared to 648,202 and 90,817, respectively for the quarter ended June 30, 2019. Total revenues and EBITDA for the six months ended June 30, 2020 were 2,814,271 and 1,174,934, respectively, compared to 1,184,576 and 291,407, respectively for the six months ended June 30, 2019.Raymond M. Gee, Chairman and CEO of Manufactured Housing Properties Inc. commented, Our results for the first six months reflect continued strong performance on our growing stable portfolio as we continue our efforts to maximize returns to our investors and continue our acquisition strategy by targeting additional properties in attractive growing markets during 2020.Michael Z. Anise, President and CFO of Manufactured Housing Properties Inc. added We have been focused on efficiently managing our portfolio and stabilizing our new acquisitions by occupying vacant home sites to satisfy demand and increase long-term value for our shareholders. Additionally, Mr. Anise added We continue to experience higher than usual demands in our communities due to the impact of COVID-19 on the economy as renters are looking for more affordable housing. Government restrictions on evictions during the pandemic are gradually being lifted so that we can enforce our housing communities rules and regulations. We have not experienced any material impact on rent collections so far; however, we may experience additional delays in processing evictions for non-payments, which could occur more frequently than usual as our tenants may be restricted in their ability to work and pay rent when due.Manufactured Housing Properties, Inc. presents Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization EBITDA in addition to its Net Income Loss reported in accordance with accounting principles generally accepted in the United States GAAP. Adjusted EBITDA is a non-GAAP financial measure that differs from Net Income. Non-GAAP Adjusted EBITDA excludes income tax expense, interest expense and depreciation and amortization, as well as refinancing cost. The table presented below includes a list of items excluded from Net Income Loss to reconcile to non-GAAP Adjusted EBITDA.Management believes non-GAAP Adjusted EBITDA is useful to investors and other users of our financial statements in evaluating operating performance because it provides them with an additional tool to compare business performance across companies and across periods. Management also believes that non-GAAP Adjusted EBITDA is widely used by investors to measure operating performance without regard to items such as income tax expense, interest expense and depreciation and amortization, which can vary substantially from company to company depending upon, among other things, the book value of assets, capital structure and whether assets were constructed or acquired. Non-GAAP Adjusted EBITDA also allows investors and other users to assess the underlying financial performance of our income producing properties before managements decision to deploy capital. The presentation of non-GAAP Adjusted EBITDA is intended to complement, and should not be considered an alternative to, the presentation of Net Income, which is an indicator of financial performance determined in accordance with GAAP. In addition, non-GAAP Adjusted EBITDA as presented in this release may not be comparable to similarly titled measures used by other companies. Three Months Ended June 30, Six Months Ended June 30, Unaudited 2020 2019 2020 2019 Net Loss 246,662 354,266 600,827 1,073,580 Adjustments: Depreciation Amortization expense 482,259 157,321 872,252 292,247 Interest Expense Refinancing Cost 465,335 287,762 903,509 1,072,740 EBITDA 700,932 90,817 1,174,934 291,407 About Manufactured Housing Properties Inc.Manufactured Housing Properties Inc. together with its affiliates, acquires, owns, and operates manufactured housing communities. The Company focuses on acquiring and operating manufactured home communities in high growth markets. Contact: Michael Z. Anise President and Chief Financial Officer 980 273-1702 ext. 244Cautionary Statement Regarding Forward-Looking StatementsAny statements contained in this press release regarding us, our expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. The forward-looking statements contained herein represent our judgment as of the date of publication of this press release and we caution you not to place undue reliance on such statements. Factors that could cause actual results to differ from the forward looking statements include those factors described in the Risk Factor section in our annual and quarterly reports filed with the SEC. Our company, our management and our affiliates assume no obligation to update any forward-looking statements to reflect events after the initial publication of this press release or to reflect the occurrence of subsequent events. 