Tuxis : June 17, 2022 Tuxis Corporation Announces 2021 Financial Results, Property Acquisition, Election of Director, and Amended Bylaws

Tuxis Corporation Announces 2021 Financial Results, Property Acquisition, Election of Director,

and Amended Bylaws

MILLBROOK, NY - June 17, 2022 - Tuxis Corporation (Stock Symbol: TUXS) ("Tuxis" or the "Company") today reported its financial results for the year ended December 31, 2021.

The Company recorded net income of $341,866 or $0.28 per diluted share for the year ended December 31, 2021 compared to a net loss of $165,407 or $0.13 per diluted share for the year ended December 31, 2020.

The Company's book value per share at December 31, 2021 was $6.23 (shareholders' equity of $7,735,969 divided by 1,241,441 shares issued and outstanding).

Property Acquisition

On December 29, 2021, the Company acquired a vacant former Home Depot in Lima, Ohio consisting of a 95,000 gross square foot building and approximately 35 acresof land for $2.95 million. The Company plans to convert the building to accommodate self storage. The conversion will depend on the Company obtaining financing for the conversion and other factors. The conversion effort may or may not be successful.

Election of Director

Susan E. Parker was reelected to the board of directors of the Company as a Class II Director to serve until the 2025 annual meeting of stockholders, or thereafter when her successor is duly elected and qualifies. This announcement was made at the conclusion of the Company's Annual Meeting of Stockholders on June 16, 2022.

Amended Bylaws

The Company announced today that it amended its bylaws effective June 16, 2022. The amended bylaws may be obtained at www.tuxis.com.

The limited information above in this press release is not adequate for making an informed investment judgment, and we urge stockholders and investors to read the Company's audited annual report for the year ended December 31, 2021, which is available at www.tuxis.comand www.otcmarkets.comunder the Company's stock symbol.

About Tuxis Corporation

The objective of Tuxis Corporation, a holding company, is to increase book value per share over time for the benefit of its shareholders. The Company engages through subsidiaries primarily in real estate development and management. To learn more about Tuxis Corporation, including Rule 15c2-11 information, please visit www.tuxis.com.

Cautionary Note Regarding Forward Looking Statements

Certain information presented in this press release may contain "forward-looking statements" within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward looking statements include statements concerning the Company's plans, including its plans as to the use of the proceeds from the sale, objectives, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, and other

information that is not historical information. In some cases, forward looking statements can be identified by terminology such as "believes," "expects," "estimates," "may," "will," "should," "anticipates" or "intends," or the negative of such terms or other comparable terminology, or by discussions of strategy. All forward-looking statements by the Company involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which may cause the C ompany's actual results to be materially different from those expressed or implied by such statements, including the negative impacts from the continued spread of COVID-19 on the economy, the broader financial markets, the Company's financial condition, and results of operations and cash flows. The Company may also make additional forward looking statements from time to time. All such subsequent forward -looking statements, whether written or oral, by the Company or on its behalf, are also expressly qualified by these cautionary statements. All forward-looking statements, including without limitation, the Company's examination of historical operating trends and estimates of future earnings, are based upon the Company's current expectations and various assumptions. The Company's expectations, beliefs and projections are expressed in good faith, but there can be no assurance that the Company's expectations, beliefs and projections will result or be achieved. All forward looking statements apply only as of the d ate made. The Company undertakes no obligation to publicly update or revise forward looking statements which may be made to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.

The Company views book value per share, a non-GAAP financial measure, as an important indicator of financial performance. Presented in conjunction with other financial information, the combined presentation can enhance an investor's understanding of the Company's underlying financial condition and results from operations. The definition of book value as presented in this press release is shareholders' equity divided by currently issued and outstanding shares.

Contact: Thomas O'Malley

Chief Financial Officer

1-212-785-0900, ext. 267 [e-mail] www.tuxis.com

TUXIS CORPORATION

2021 Annual Report

TUXIS CORPORATION
Contents
Independent Auditor's Report....................................................................................................................................................	2
Consolidated Audited Financial Statements
Consolidated Balance Sheet...........................................................................................................................................................	4
Consolidated Statement of Income ................................................................................................................................................	5
Consolidated Statement of Changes in Equity ...............................................................................................................................	6
Consolidated Statement of Cash Flows .........................................................................................................................................	7
Notes to Consolidated Financial Statements ..................................................................................................................................	8
Corporate Information ................................................................................................................................................................	16

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INDEPENDENT AUDITOR'S REPORT

To the Board of Directors and Stockholders of

Tuxis Corporation

Millbrook, New York

Opinion

We have audited the accompanying consolidated financial statements of Tuxis Corporation (the "Company") (a Maryland corporation) and subsidiaries, which comprise the consolidated balance sheet as of December 31, 2021, and the related consolidated statements of income, changes in equity, and cash flows for the year then ended, and the related notes to the consolidated financial statements.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Tuxis Corporation and subsidiaries as of December 31, 2021 and the results of their operations and their cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Tuxis Corporation and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Tuxis Corporation's ability to continue as a going concern within one year after the date that the consolidated financial statements are available to be issued.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the consolidated financial statements.

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