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Fountain Asset Corp. Announces Strong Financial Results for the First Quarter 2019
Fountain Asset Corp. Announces Strong Financial Results for the First Quarter 2019 ...
About this update from Fountain Asset Corp.
[{"type":"text","content":"\n\n\n\nFountain Asset Corp. Announces Strong Financial Results for the First 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, May 29, 2019\n\n\n\nTORONTO, May 29, 2019 /CNW/ - Fountain Asset Corp. (TSXV:FA) (\"Fountain\" or the \"Company\") is pleased to announce strong financial results for the first quarter ended March 31, 2019 (\"Q1/19\").\n\"The Company posted another solid quarter during Q1/19 as Fountain was able to grow its Adjusted Net Asset Value by over 10% quarter over quarter. We continue to believe we offer a strong value proposition for our investors by giving them a vehicle to access early round financings that they would otherwise not have access to.\" said Andrew Parks, CEO of Fountain.\nHighlights from Q1/19:\nAdjusted net asset value (\"ANAV\") of $40.60 million ($0.68 per share) at March 31, 2019 compared to $36.77 million ($0.63 per share) at December 31, 2018, representing a 10.4% 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 $3.92 million compared to a loss of $1.62 million for three months ended March 31, 2018 (\"Q1/18\"); Total revenue from investment activity was $4.24 million compared to losses $1.39 million for Q1/18; Net realized gains on the sale of portfolio investments of $0.32 million compared to net realized gains of $4.45 million for Q1/18; Net unrealized gains on portfolio investments of $3.13 million compared to net unrealized losses of $5.92 million for Q1/18; Total expenses of $0.32 million, which includes stock-based compensation of $0.11 million, compared to $0.23 million for Q1/18; and Operating expenses of $0.21 million compared to $0.23 million for Q1/18.During the quarter, the Company saw strong positive performance from its portfolio, driven by several private investments including BabelBark Inc., and Wolverine Partners Corp. This was offset by our investment in 3 Sixty Risk Solutions Ltd. For the quarter, the Company reported total revenue of $...