Business
Fountain Asset Corp. Announces Financial Results for the Third Quarter 2019
Fountain Asset Corp. Announces Financial Results for the Third Quarter 2019 Canada...
About this update from Fountain Asset Corp.
[{"type":"text","content":"\n\n\n\nFountain Asset Corp. Announces Financial Results for the Third Quarter 2019\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Nov. 26, 2019\n\n\n\nTORONTO, Nov. 26, 2019 /CNW/ - Fountain Asset Corp. (TSXV:FA) (\"Fountain\" or the \"Company\") is pleased to announce financial results for the third quarter ended September 30, 2019 (\"Q3/19\").\n\"The Company posted a decline in Adjusted Net Asset Value quarter over quarter during Q3/19.  The decline was driven by Sweet Natural Trading, Green Growth Brands, and Cansortium,\" said Andrew Parks, CEO of Fountain.\nHighlights from the three months ended September 30, 2019:\nAdjusted net asset value (\"ANAV\") of $26.80 million ($0.45 per share) at September 30, 2019 compared with $37.56 ($0.63 per share) at June 30, 2019, representing a 28.5% decrease quarter over quarter on a per-share basis. ANAV reflects the net asset value plus the amount of available tax loss pools available; Net comprehensive loss of $10.93 million compared to income of $4.99 million for three months ended September 30, 2018 (\"Q3/18\"); Total losses from investment activity was $10.62 million compared to revenue of $7.77 million for Q3/18; Net realized losses on the sale of portfolio investments of $1.88 million compared to net realized gains of $5.75 million for Q3/18; Net unrealized losses on portfolio investments of $8.75 million compared to net unrealized gains of $1.87 million for Q3/18; Total expenses of $0.32 million, including stock-based compensation of $0.07 million, compared to $2.50 million, including stock-based compensation of $0.03 million, and annual incentive plan expense of $2.14 million for Q3/18; and Operating expenses of $0.25 million compared to $0.33 million for Q3/18.Highlights from the nine months ended September 30, 2019:\nANAV of $26.80 million ($0.45 per share) at September 30, 2019 compared to $36.77 million ($0.63 per share) at December 31, 2018, representing a decrease of 28.5% year to date on a per share basis; Net comprehensive loss of $10.04 million compared to income of $7.56 ...