KADESTONE CAPITAL CORP. REPORTS Q1 2023 FINANCIAL RESULTS

About this update from Kadestone Capital Corp.

[{"type":"text","content":"\n \n \n \n KADESTONE CAPITAL CORP. REPORTS Q1 2023 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 \n VANCOUVER, BC\n \n \n ,\n \n \n May 29, 2023\n \n \n /CNW/ - Kadestone Capital Corp. (\"Kadestone\" or the \"Company\") (TSXV: KDSX) (OTCQB: KDCCF), a vertically integrated property company today announced its financial results for the three months ended\n \n March 31, 2023\n \n .\n \n \n \n \n \n \n \n \n \n \"We are very pleased with our Q1 2023 period of operations and are excited about identifying opportunities and securing additional investments in 2023.\" 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, 2023\n \n of\n \n $749,557\n \n or\n \n $0.02\n \n per share compared with a net loss of\n \n $1,030,243\n \n or\n \n $0.02\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 share-based compensation of\n \n $304,795\n \n and salaries and wages of\n \n $194,712\n \n . Our net cash used in operating activities for the three months ended\n \n March 31, 2023\n \n increased to\n \n $1,080,282\n \n compared to\n \n $365,637\n \n for the three months ended\n \n March 31, 2022\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 in notes 2 and 3 of the Company's audited consolidated financial statements for the year ended\n \n December 31, 2022\n \n .\n \n \n About Kadestone\n \n \n Kadestone was established to pursue the investment in, acquisition, development and management of residential and commercial income producing prope...

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