Business
Pinetree Capital Announces Unaudited Financial Results for the Period Ended September 30, 2022
TORONTO, ON / ACCESSWIRE / October 28, 2022 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Announces Unaudited Financial Results for the Period Ended September 30, 2022TORONTO, ON / ACCESSWIRE / October 28, 2022 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the three months ended September 30, 2022. 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 September 30, 2022The 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, 2021, which can be found on SEDAR at www.sedar.com.Selected Financial Information As at September 30, 2022 As at December 31, 2021 Total assets $36,852 $38,851 Total liabilities 302 412 Book Value 36,550 38,439 Shares outstanding 9,387,000 9,387,000 Book Value per share (BVPS) $3.89 $4.09 Shares Outstanding Equity Book Value per share (BVPS)1 Quarterly Expenses Expenses as a percentage of BV1 $000's $ $000's 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 Mar-31-21 4,710,099 21,904 4.65 217 1.0 Dec-31-20 4,522,599 19,101 4.22 132 0.7 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 September 30, 2022, Pinetree's equity was $36,550 which compares to $38,439 as at December 31, 2021. This resulted in Pinetree's BVPS decreasing from $4.09 as at December 31, 2021 to $3.89 at September 30, 2022. The change represents a decrease of $0.20 or 4.8%.As at September 30, 2022, the Company held investments at fair value totaling $35,049, which represented 96% of book value. This compares to investments at fair value of $24,703 representing 64% of book value as at December 31, 2021.Expenses for the twelve months ended September 30, 2022 were $1,086 which corresponds to 2.9% of book value as at September 30, 2022. This compares to expenses of $8...