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Fountain Asset Corp. Announces its Financial Results for the Quarter Ended June 30, 2024
TORONTO, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Fountain Asset Corp . (TSXV:FA) (“Fountain&...
About this update from Fountain Asset Corp.
[{"type":"text","content":"Fountain Asset Corp. Announces its Financial Results for the Quarter Ended June 30, 2024\n\n\n\n TORONTO, Aug. 20, 2024 (GLOBE NEWSWIRE) --\n \n Fountain Asset Corp\n \n . (TSXV:FA) (“Fountain” or the “Company”) would like to announce its financial results for the three and six months ended June 30, 2024 (“\n \n Q2/24\n \n ”).\n \n\n\n\n Highlights from three months ended June 30, 2024:\n \n\n\n\n NAV of $5.73 million ($0.09/share) at June 30, 2024 compared to $6.22 million ($0.10/share) at March 31, 2024, representing a 10% decrease on a quarter over quarter per share basis. NAV is calculated as the value of total assets less the value of total liabilities;\n \n\n Net comprehensive losses of $0.49 million compared to net comprehensive losses of $0.70 million for the quarter ended June 30, 2023 (“\n \n Q2/23\n \n ”);\n \n\n Total losses from investment activity was $0.27 million compared to losses of $0.53 million for Q2/23;\n \n\n Net realized gains on the sale of portfolio investments of $0.17 million compared to net realized losses of $1.56 million for Q2/23;\n \n\n Net unrealized losses on portfolio investments of $0.44 million compared to net unrealized gains of $1.03 million for Q2/23;\n \n\n Total expenses of $0.22 million compared to $0.17 million for Q2/23; and\n \n\n Operating expenses of $0.22 million compared to $0.19 million for Q2/23.\n \n\n\n\n\n Highlights from six months ended June 30, 2024:\n \n\n\n\n NAV of $5.73 million ($0.09 per share) at June 30, 2024 compared to $6.66 million ($0.11 per share) at December 31, 2023, representing a 16% decrease year to date on a per share basis. NAV is calculated as the value of total assets less the value of total liabilities;\n \n\n Net comprehensive loss of $0.95 million for the six months ended June 30, 2024, compared to net comprehensive loss of $0.88 million for the six months ended June 30, 2023;\n \n\n Total loss from investment activity was $0.54 million compared to total loss of $0.50 million for the six months ended June 30, 2023;\n \n\n Net realized losses on the sale of portfolio investments of $0.14 million compared to net realized losses of $1.47 million for the six months ended June 30, 2023;\n \n\n Net unrealized losses on portfolio investments of $0.41 million compared to net unrealized gains of $0.97...