Firstfund reports 2008 second quarter results

About this update from Consolidated Firstfund Capital Corp.

[{"type":"text","content":"\n\n\n\nTrading Symbol: FFP\n\n\nVANCOUVER, Aug. 29 /CNW/ - Consolidated Firstfund Capital Corp. is\npleased to announce its results from operations for its second quarter ended\nJune 30, 2008. The financial results of the Company for the three months ended\nJune 30, 2008 show a loss of $106,666 or $0.02 per share compared to a gain of\n$305,623 or $0.05 per share for the same period last year. Operating revenues\ndecreased to $74,050 for the three months ended June 30, 2008 compared to\n$120,205 for the three months ended June 30, 2007. The Company's fee income\nwas $70,073 for the three months ended June 30, 2008 (2007 - $117,766).\n\n\nThe Company earns fee income for real estate development and property\nmanagement activities performed on properties owned by other entities. During\nthe second quarter, the Company negotiated and received on behalf of Gold Star\nResorts an extension to the conditional use and development permits for a\nproposed 68-unit condominium development project totaling 100,000 sq. ft. in\nBirch Bay, Washington. The extension of the permits is for two years.\n\n\nAlso during the second quarter, the Company negotiated and received on\nbehalf of Gold Star Resorts permits from local and state governments to\nconstruct a road off of State Highway 548. One parcel of the property under\nmanagement by the Company on State Highway 548 is permitted for a 10,000 sq.\nft. strip mall with gas station and 10,000 sq. ft. restaurant/accommodation,\nfarmers market and nursery.\n\n\nThe Company's interim consolidated financial statements and management's\ndiscussion and analysis for the six months ended June 30, 2008 are available\non SEDAR at www.sedar.com.\n\n\nOn behalf of the Board of\nCONSOLIDATED FIRSTFUND CAPITAL CORP.\n\nWilliam N. Grant (signed)\n---------------------------------\nWilliam N. Grant, President & CEO\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":2094,"tagName":"div"}]

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