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Fountain Asset Corp. Announces Its Financial Results for the Third Quarter 2016
TORONTO, ON / ACCESSWIRE / November 30, 2016 / Fountain Asset Corp. (TSXV: FA) ("Fountain As...
About this update from Fountain Asset Corp.
[{"type":"text","content":"Fountain Asset Corp. Announces Its Financial Results for the Third Quarter 2016TORONTO, ON / ACCESSWIRE / November 30, 2016 / Fountain Asset Corp. (TSXV: FA) (\"Fountain Asset\") announces its financial results for the third quarter ending September 30, 2016.\nHighlights\n\n Three month revenue of $818,000, up from $811,000 in Q1 and $295,000 in Q1;\n Net income of $551,000;\n Portfolio of publicly traded companies increased to $6.0 million compared to $5.2 million at year end;\n Total assets of $13.9 million at the end of the quarter;\n\nManagement's First Quarter Comments\nFor the third quarter ended September 30, 2016, the Company reported net income of $551,045 or $0.01 per share compared to a net loss of ($3,894,241), or ($0.07) per share in the prior year. Total assets as at September 30, 2016 were $13.9 million compared to $12.9 million as at December 31, 2015. The Company's portfolio of public companies increased to $6.0 million at quarter end compared to $5.2 million at year end.\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 future plans and objectives of the Company, are forward-looking statements that involve various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not...