Business
Pinetree Capital Announces Unaudited Financial Results for the Period Ended September 30, 2023
TORONTO, ON / ACCESSWIRE / October 26, 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 September 30, 2023TORONTO, ON / ACCESSWIRE / October 26, 2023 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the three months ended September 30, 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 September 30, 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 September 30, 2023 As at December 31, 2022Total assets$41,739 $40,062Total liabilities 340 443Book Value 41,399 39,619Shares outstanding 9,387,000 9,387,000Book Value per share (BVPS)$4.41 $4.22 Shares OutstandingEquityBook Value per share (BVPS)1Quarterly ExpensesExpenses as a percentage of BV1 $000's $000's%Sep-30-239,387,00041,3994.411900.5Jun-30-239,387,00042,1114.492600.6Mar-31-239,387,00039,0564.162830.7Dec-31-229,387,00039,6194.222750.7Sep-30-229,387,00036,5503.892930.8Jun-30-229,387,00037,6444.012300.6Mar-31-229,387,00035,7793.813370.9Dec-31-219,387,00038,4394.092260.61 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, 2023, Pinetree's equity was $41,399 which compares to $39,619 as at December 31, 2022. This resulted in Pinetree's BVPS increasing from $4.22 as at December 31, 2022 to $4.41 at September 30, 2023. The change represents an increase of $0.19 or 4.5%.As at September 30, 2023, the Company held investments at fair value totaling $38,937, which represented 94% of book value. This compares to investments at fair value of $31,145 representing 79% of book value as at December 31, 2022.Expenses for the twelve months ended September 30, 2023 were $1,008 which corresponds to 2.4% of book value as at September 30, 2023. This compares to expenses of $1,086 for the twelve months ended September 30, 2022 which co...