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TIMIA Capital Announces Third Quarter 2019 Financial Results
TIMIA Capital Announces Third Quarter 2019 Financial Results Canada NewsWire VAN...
About this update from Montfort Capital Corp
[{"type":"text","content":"\n\n\n\nTIMIA Capital Announces Third Quarter 2019 Financial Results\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\nCanada NewsWire\nVANCOUVER, Oct. 30, 2019\n\n\n\n~Company delivers record revenue with 121% year-over-year growth and 70% year-over-year growth in total assets~\n VANCOUVER, Oct. 30, 2019 /CNW/ - TIMIA Capital Corporation (\"TIMIA\" or the \"Company\") (TSX-V:TCA / OTC: TIMCF) today announced financial results for the third quarter ended August 31, 2019. \nThird Quarter 2019 Highlights include:\nRecord revenue of $884,231, up 121% over the same period last year. Posted record interest income from investments, included in total revenue, which increased 170% to $857,587 compared with the same period last year. Total assets increased 70% to $22.3 million as at August 31, 2019 compared to the same period last year. Cash balance, as part of assets, was $5.0 million compared to $3.7 million as at November 30, 2018. Adjusted EBITDA* of $74,382 compared with an Adjusted EBITDA* of $109,686 for the same period last year. Reported a net loss of $54,658, or $0.00 per share, compared with a net loss of $413,221, or $0.01 per share, for the same period last year. TIMIA's loan investment portfolio (Loans receivable) increased by 127% to $16,385,629 in comparison to the same period last year.\"We continue to leverage our fintech platform by putting capital to work in more and more growing software companies,\" said Mike Walkinshaw, CEO of TIMIA Capital Corporation. \"The net result is another record quarter in revenue and an improved bottom line as the deployed capital starts to generate returns. We're investing in great entrepreneurs with great companies which are benefiting from strong sector growth and the occasional exit through M&A activity. Our investment thesis and expanding fintech platform is supported by the increase in capital from our non-dilutive Limited Partnership structure which drive above industry average returns. We have some exciting opportunities on the horizon and look forward to keeping our shareholders appris...