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Kadestone Capital Corp. Reports Q2 2021 Financial Results
Kadestone Capital Corp. Reports Q2 2021 Financial Results Canada NewsWire ...
About this update from Kadestone Capital Corp.
[{"type":"text","content":"\n \n \n \n Kadestone Capital Corp. Reports Q2 2021 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 Aug. 20, 2021\n \n /CNW/ - Kadestone Capital Corp. (\"Kadestone\" or the \"Company\") (TSXV: KDSX) (OTCB: KDCCF), a vertically integrated property company today announced its financial results for the six months ended\n \n June 30, 2021\n \n .\n \n \n \n \n \n \n \n \n \n \"Securing and funding the\n \n Chilliwack\n \n and\n \n Squamish\n \n investments is a significant milestone for Kadestone. We wish to thank our development partner and the lending banks for their confidence in Kadestone. We are excited about our progress this year in identifying opportunities and securing additional investments,\" 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 six months ended\n \n June 30, 2021\n \n of\n \n $881,105\n \n or\n \n $0.02\n \n per share compared with a net loss of\n \n $1,229,982\n \n or\n \n $0.04\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 $286,824\n \n , stock-based compensation of\n \n $275,469\n \n , interest expense of\n \n $157,171\n \n and consulting fees of\n \n $64,784\n \n which were offset by a fair value adjustment on investment properties of\n \n $294,222\n \n . Our net cash used in operating activities for the six months ended\n \n June 30, 2021\n \n increased to\n \n $634,602\n \n compared to\n \n $604,688\n \n for the six months ended\n \n June 30, 2020\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 app...