KADESTONE CAPITAL CORP. REPORTS Q1 2022 FINANCIAL RESULTS

About this update from Kadestone Capital Corp.

[{"type":"text","content":"\n \n \n \n KADESTONE CAPITAL CORP. REPORTS Q1 2022 FINANCIAL RESULTS\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC\n \n ,\n \n \n May 19, 2022\n \n \n /CNW/ -\n \n \n Kadestone\n \n Capital\n \n Corp\n \n . (\"\n \n Kadestone\n \n \" or the \"Company\") (\n \n TSXV\n \n :\n \n KDSX\n \n ) (\n \n OTCB\n \n :\n \n KDCCF\n \n ), a vertically integrated property company today announced its financial results for the three months ended\n \n March 31, 2022\n \n .\n \n \n \n \n \n \n \n \n \n \n \"We are excited about our progress so far this year at identifying additional investment opportunities. We expect to see the results of our efforts later in 2022, as we continue to believe that real estate projects in the\n \n Vancouver\n \n region will benefit from the Kadestone platform,\" said\n \n Brent Billey\n \n , the Company's CEO.\n \n \n Financial Results\n \n \n The Company recorded a net loss for the three months ended\n \n March 31, 2022\n \n of\n \n $1,030,243\n \n or\n \n $0.02\n \n per share compared with a net loss of\n \n $577,183\n \n or\n \n $0.01\n \n per share for the same period in the prior year. This loss was primarily due to expenses incurred for the ongoing operations of the Company which included salaries and wages of\n \n $169,951\n \n , share-based compensation of\n \n $290,677\n \n , interest expense of\n \n $203,523\n \n and professional fees of\n \n $282,690\n \n . Our net cash used in operating activities for the three months ended\n \n March 31, 2022\n \n decreased to\n \n $365,637\n \n compared to\n \n $485,196\n \n for the three months ended\n \n March 31, 2021\n \n .\n \n \n The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of application as described i...

More updates from Kadestone Capital Corp.