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Fountain Asset Corp. Announces Its Financial Results for the First Quarter 2016
TORONTO, ON / ACCESSWIRE / May 31, 2016 / Fountain Asset Corp. (TSXV: FA) ("Fountain Asset")...
About this update from Fountain Asset Corp.
[{"type":"text","content":"Fountain Asset Corp. Announces Its Financial Results for the First Quarter 2016TORONTO, ON / ACCESSWIRE / May 31, 2016 / Fountain Asset Corp. (TSXV: FA) (\"Fountain Asset\") announces its financial results for the first quarter ending March 31, 2016.\nHighlights\n\n Three month revenue of $0.3 million compared to $0.4 million in 2015;\n Break-even first quarter compared to net income of $0.1 million in 2015;\n Portfolio of publicly traded companies increased to $5.5 million compared to $5.2 million at year end;\n Total assets of $12.9 million at the end of the quarter.\n\nManagement's First Quarter Comments\nFor the quarter ended March 31, 2016, the Company reported net income of $17,561, or $0.00 per share compared to a net income of $190,555, or $0.00 per share in the prior year. Total assets as at March 31, 2016 were $12.9 million compared to $12.9 million as at December 31, 2015. The Company's portfolio of public companies increased to $5.5 million at quarter end compared to $5.2 million at year end.\n\"Within the quarter we saw our portfolio of public companies make a positive rebound from the end of 2015. We continue to be excited about the prospects for our public company portfolio and our roster of private investee companies continue to provide steady monthly cash flows for Fountain,\" said Jason Ewart, CEO of Fountain.\nA full set of unaudited financial statements and related notes have been filed on SEDAR.\nAbout Fountain Asset Corp.\nFountain 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 oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Fountain Asset Corp.'s website at www.fountainassetcorp.com.\nForward-Looking Information\nThese materials include certain \"forward-looking statements\" within the meaning of the Private Securities Litigation Reform Act of 1995. Other than statement of historical fact, all statements in this material, including, without limitation, statements regarding fair values of marketable securities, investments, bridge loans, convertible debentures, estimated asset retirement obligations, and f...