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     105  0 Kommentare Fountain Asset Corp. Announces Its Financial Results for the Quarter Ended March 31, 2024

    TORONTO, May 29, 2024 (GLOBE NEWSWIRE) -- Fountain Asset Corp. (TSXV:FA) (“Fountain” or the “Company”) would like to announce its financial results for the three months ended March 31, 2024 (“Q1/24”).

    Highlights from Q1 2024:

    • NAV of $6.22 million ($0.10/share) at March 31, 2024 compared to $6.66 million ($0.11/share) at December 31, 2023, representing a 9.1% decrease on a quarter over quarter per share basis;
    • Net comprehensive losses of $0.44 million compared to net comprehensive losses of $0.18 million for the quarter ended March 31, 2023 (“Q1/23”);
    • Total losses from investment activity was $0.28 million compared to gains of $0.04 million for Q1/23;
    • Net realized losses on the sale of portfolio investments of $0.32 million compared to net realized gains of $0.09 million for Q1/23;
    • Net unrealized gains on portfolio investments of $0.04 million compared to net unrealized losses of $0.06 million for Q1/23;
    • Total expenses of $0.17 million compared to $0.22 million for Q1/23; and
    • Operating expenses of $0.17 million compared to $0.18 million for Q1/23.

    During Q1/24, the Company realized $0.32 million in losses on the sale of non-core portfolio investments. The company saw a decline in its portfolio of publicly traded companies, which included a decline from SRG Mining Inc. The decreases were offset by increases in Hammond Power Solutions.

    The Company continued to maintain low operating expenses in Q1/24, which helped reduce the net comprehensive loss of the Company. As at March 31, 2024, the Company’s net assets were valued at $6.22 million or $0.10 per share compared to $6.66 million or $0.11 per share at December 31, 2023.

    “During Q1/24, Fountain continued to focus on its growth-oriented goals by realigning its investment portfolio for new opportunities and exiting non-core investments that have not benefitted the Company. While this resulted in additional realized losses during Q1/24, Fountain believes the disposition of these investments was necessary for the Company to re-position itself and capitalize on new opportunities,” said Andrew Parks, CEO of Fountain.

    A full set of the Q1 2024 unaudited financial statements and the management discussion & analysis are available on SEDAR+.

    About Fountain Asset Corp.

    Lesen Sie auch

    Fountain Asset Corp. is a merchant bank which provides equity financing, bridge loan services (asset back/collateralized financing) and strategic financial consulting services to companies across many industries such as marijuana, oil & gas, mining, real estate, manufacturing, retail, financial services, and biotechnology.

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    Fountain Asset Corp. Announces Its Financial Results for the Quarter Ended March 31, 2024 TORONTO, May 29, 2024 (GLOBE NEWSWIRE) - Fountain Asset Corp. (TSXV:FA) (“Fountain” or the “Company”) would like to announce its financial results for the three months ended March 31, 2024 (“Q1/24”). Highlights from Q1 2024: NAV of $6.22 million …