TIMIA Capital Announces Third Quarter 2020 Financial Results

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[{"type":"text","content":"\n \n \n \n TIMIA Capital Announces Third Quarter 2020 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 VANCOUVER, BC, Oct. 30, 2020\n \n \n \n \n \n ~Company's growth profile continues with record quarterly revenue~\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 30, 2020\n \n /CNW/ -\n \n TIMIA\n \n \n Capital Corporation (\"TIMIA\" or the \"Company\") (TSXV: TCA) (OTC: TIMCF)\n \n today announced consolidated financial results for the third quarter ended\n \n August 31, 2020\n \n . All figures are reported in Canadian dollars unless otherwise noted.\n \n \n \n Third\n \n \n Quarter 2020 Highlights include:\n \n \n \n \n Record total revenue of\n \n $1.4 million\n \n , up 56% over the same period last year.\n \n \n Posted interest income from investments of\n \n $1.3 million\n \n , included in total revenue, an increase of 46% year over year.\n \n \n Total assets increased 37% to\n \n $37.0 million\n \n as at\n \n August 31, 2020\n \n compared to\n \n November 30, 2019\n \n . Cash balance, as part of assets, was\n \n $8.2 million\n \n compared to\n \n $4.7 million\n \n as at\n \n November 30, 2019\n \n .\n \n \n TIMIA's loan investment portfolio (loans receivable) increased by 26% to\n \n $27.3 million\n \n in comparison to the same period last year.\n \n \n During the third quarter 2020 the Company received approximately\n \n $10 million\n \n (\n \n US$7.5 million\n \n ) in subscription agreements towards a second Limited Partnership (\"LP II\").\n \n \n Reported consolidated net income of\n \n $333,243\n \n , which includes a significant unrealized foreign exchange loss of\n \n $747,259\n \n , compared to a consolidated net loss of\n \n $54,658\n \n for the same period last year. Outside of foreign exchange impacts, the improvement in consolidated net income on a year-over-year basis is representative of the increase in total revenue plus gains on investments.\n \n \n The portion of consolidated net loss attributable to the shareholders of the company is\n \n $23,580\n \n as compa...

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