KADESTONE CAPITAL CORP. REPORTS Q2 2023 FINANCIAL RESULTS

About this update from Kadestone Capital Corp.

[{"type":"text","content":"\n \n \n \n KADESTONE CAPITAL CORP. REPORTS Q2 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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \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 \n VANCOUVER, BC\n \n \n ,\n \n \n Aug. 24, 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 six months ended\n \n June 30, 2023\n \n .\n \n \n \n \n \n \n \n \n \n \"We continue to progress at identifying additional investment opportunities. We expect to see the results of our efforts later in 2023, 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 six months ended\n \n June 30, 2023\n \n , of\n \n $1,646,416\n \n or\n \n $0.04\n \n per share compared with a net loss of\n \n $2,151,808\n \n or\n \n $0.05\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 $504,331\n \n , salaries and wages of\n \n $372,132\n \n and professional fees of\n \n $240,584\n \n . Our net cash used in operating activities for the six months ended\n \n June 30, 2023\n \n , increased to\n \n $1,726,485\n \n compared to\n \n $1,325,120\n \n for the six months ended\n \n June 30, 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, ...

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