Business
Fountain Asset Corp. Announces its Financial Results for the Quarter Ended June 30, 2020
Fountain Asset Corp. Announces its Financial Results for the Quarter Ended June 30, 2020 ...
About this update from Fountain Asset Corp.
[{"type":"text","content":"\n\n\n\nFountain Asset Corp. Announces its Financial Results for the Quarter Ended June 30, 2020\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, Aug. 31, 2020\n\n\n\nTORONTO, Aug. 31, 2020 /CNW/ - Fountain Asset Corp. (TSXV: FA) (\"Fountain\" or the \"Company\") would like to announce its financial results for the three months ended June 30, 2020 (\"Q2/20\").\nHighlights from the three months ended June 30, 2020:\nAdjusted net asset value (\"ANAV\") of $17.52 million ($0.30 per share) at June 30, 2020 compared to $16.87 million ($0.29 per share) at March 31, 2020, representing a 3.8% increase 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 income of $0.33 million compared to net comprehensive loss of $3.04 million for three months ended June 30, 2019 (\"Q2/19\"); Total revenue from investment activity was $0.55 million compared to total revenue loss of $2.65 million for Q2/19; Net realized losses on the sale of portfolio investments of $2.74 million compared to net realized losses of $1.34 million for Q2/19; Net unrealized gains on portfolio investments of $2.47 million compared to net unrealized losses of $1.55 million for Q2/19; Total expenses of $0.22 million, which includes stock-based compensation, compared to $0.39 million for Q2/19; and Operating expenses of $0.21 million compared to $0.29 million for Q2/19.Highlights from the six months ended June 30, 2020:\nANAV of $17.51 million ($0.30 per share) at June 30, 2019 compared to $18.78 million ($0.32 per share) at December 31, 2019, representing a 6.7% decline year to date on a per share basis; Net comprehensive loss of $1.71 million compared to net comprehensive income of $0.89 million for the six months ended June 30, 2019; Total revenue loss from investment activity was $1.31 million compared to total revenue of $1.59 million for the six months ended June 30, 2020; Net realized losses on the sale of portfolio investments of $3.80 million compared to net realized losses of $1.01 m...