Business
Parkit Enterprise Releases Q1 2019 Results
Parkit Enterprise Releases Q1 2019 Results Canada NewsWire VANCOUVER, March 29, ...
About this update from Parkit Enterprise Inc.
[{"type":"text","content":"\n\n\n\nParkit Enterprise Releases Q1 2019 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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 29, 2019\n\n\n\nVANCOUVER, March 29, 2019 /CNW/ - Parkit Enterprise Inc. (\"Parkit\" or the \"Company\") (TSX-V:PKT; OTCQX: PKTEF) has recently filed its interim financial statements, and management's discussion and analysis for the quarter ended January 31, 2019 (\"Q1 2019\") on SEDAR (www.sedar.com). The financial highlights for the period include:\nRevenue of $108,650, comprised of parking services revenue, fee income, profit from joint ventures and profit from associate; Net loss of $255,172, or $(0.01) per share, inclusive of a foreign exchange loss of $6,723; Free cash flow in the quarter of $511,921 consisting of cash flow from operations of $(256,002) and cash flow from investing activities of $767,923. Working capital of $1,099,205 (including cash of $3,023,732); Net asset value increased to $21,237,718 equivalent to $0.61 per share.\n \n \n\n \n\"This quarter the Company positioned itself to take advantage of the cash flows it will receive from our joint venture.  As we continue to monetize assets, we believe we will generate significant unencumbered cash that can be used for future acquisitions or to return to shareholders,\" stated Parkit's Executive Chairman, David Delaney.     \nFor a more full explanation of the Company's Q1 2019 results, please refer to the Company's interim filings on SEDAR or the Company's website.  For a copy of the Company's updated investor presentation please click here: https://bit.ly/parkitenterprise-20190328.\nAbout PARKIT\nParkit Enterprise Inc. is engaged in the acquisition, optimization and asset management of income-producing parking facilities across the United States and Canada. The Company's shares are listed on TSX-V (Symbol: PKT) and on the OTCQX (Symbol: PKTEF). \nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy...