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Pinetree Capital Announces Unaudited Financial Results for the Period Ended March 31, 2023
TORONTO, ON / ACCESSWIRE / April 28, 2023 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or the "...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Announces Unaudited Financial Results for the Period Ended March 31, 2023TORONTO, ON / ACCESSWIRE / April 28, 2023 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the three months ended March 31, 2023. All financial information provided in this press release is unaudited and all figures are in $'000 except per share amounts and shares outstanding.Unaudited financial results for the period ended March 31, 2023The following information should be read in conjunction with our annual audited Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards (\"IFRS\") and our annual Management Discussion and Analysis for the year ended December 31, 2022, which can be found on SEDAR at www.sedar.com.Selected Financial Information As at March 31, 2023 As at December 31, 2022 Total assets $39,399 $40,062 Total liabilities 343 443 Book Value 39,056 39,619 Shares outstanding 9,387,000 9,387,000 Book Value per share (BVPS) $4.16 $4.22 Shares Outstanding Equity Book Value per share (BVPS)1 Quarterly Expenses Expenses as a percentage of BV1 $000's $ $000's % Mar-31-23 9,387,000 39,056 4.16 283 0.7 Dec-31-22 9,387,000 39,619 4.22 275 0.7 Sep-30-22 9,387,000 36,550 3.89 293 0.8 Jun-30-22 9,387,000 37,644 4.01 230 0.6 Mar-31-22 9,387,000 35,779 3.81 337 0.9 Dec-31-21 9,387,000 38,439 4.09 226 0.6 Sep-30-21 9,387,000 38,547 4.11 263 0.7 Jun-30-21 9,420,198 39,480 4.19 216 0.5 1 Refer to \"Use of Non-IFRS Financial Measures\"Shares Outstanding and Equity amounts are as at the Quarter End date. Expense amounts are for the Three months ending the Quarter End dateAs at March 31, 2023, Pinetree's equity was $39,056 which compares to $39,619 as at December 31, 2022. This resulted in Pinetree's BVPS decreasing from $4.22 as at December 31, 2022 to $4.16 as at March 31, 2023. The change represents a decrease of $0.06 or 1.4%.As at March 31, 2023, the Company held equity investments at fair value totaling $32,101, which represented 82% of book value. This compares to equity investments at fair value of $31,145 representing 79% of book value as at December31, 2022.Loss per share for the three months ended March 31, 2023 was $0.06 compared to loss per share of $0.28 for the three months ended March 31, 2022.Expenses for the twelve months e...