Business
Firstfund reports 2008 results
Trading Symbol: FFP VANCOUVER, April 30 /CNW/ - The Company wishes to announce its 2008 results f...
About this update from Consolidated Firstfund Capital Corp.
[{"type":"text","content":"\n\n\n\nTrading Symbol: FFP\n\n\nVANCOUVER, April 30 /CNW/ - The Company wishes to announce its 2008\nresults from operations based upon its audited consolidated financial\nstatements for the year ended December 31, 2008.\n\n\nThe financial results of the Company for the year ended December 31, 2008\nshow a loss of $499,566 or $0.08 per share (2007 - income of $433,997 or $0.07\nper share) on revenues of $305,319 (2007 - $718,901). During the year ended\nDecember 31, 2008, the Company realized gains on the sale of\navailable-for-sale investments of $Nil (2007 - $470,110). The Company disposed\nof investments in Common shares and Preference shares of Vitality Products\nInc. in 2007.\n\n\nThe financial results of the Company for its fourth quarter of 2008 show\na loss of $296,443 or $0.05 per share (2007 - income of $22,453 or $0.00 per\nshare) on revenues of $80,718 (2007 - $357,725). During the fourth quarter of\n2008 the Company recorded a loss of $263,868 (2007 - $Nil) to recognize an\nother than temporary impairment to the carrying value of its investment in\nCommon shares of Vitality Products Inc. The Company's fee income was $78,522\nfor the three months ended December 31, 2008 (2007 - $347,865). No additional\nfee income, above and beyond the Company's monthly administration fees, was\nreceived in the fourth quarter of 2008. During the fourth quarter of 2007, the\nCompany received US$276,489 from Gold Star Resorts Inc. for the successful\ncompletion of the Sandcastle Resort project.\n\n\nThe Company's audited consolidated financial statements and management's\ndiscussion and analysis for the year ended December 31, 2008 are available on\nSEDAR at www.sedar.com.\n\n\nOn behalf of the Board of\nCONSOLIDATED FIRSTFUND CAPITAL CORP.\n\nWilliam N. Grant (signed)\n\n---------------------------------\nWilliam N. Grant, President & CEO\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00002533E\n\n\n","length":2096,"tagName":"div"}]