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Pinetree Capital Ltd Announces Audited Financial Results for the Year Ended December 31, 2022
TORONTO, ON / ACCESSWIRE / February 27, 2023 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or th...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Ltd Announces Audited Financial Results for the Year Ended December 31, 2022TORONTO, ON / ACCESSWIRE / February 27, 2023 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the year ended December 31, 2022. All figures provided in this press release are in $'000 except per share amounts and shares outstanding.Financial results for the three months and year ended December 31, 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, 2022, which can be found on SEDAR at www.sedar.com.Selected Financial Information As at December 31, 2022 As at December 31, 2021Total assets$40,062 $38,851Total liabilities 443 412Book Value 39,619 38,439Shares outstanding 9,387,000 9,387,000Book Value per share (BVPS)$4.22 $4.09 Shares Outstanding Equity Book Value per share (BVPS)1 Quarterly Expenses Expenses as a percentage of BV1 $000's $ $'000's %Dec-31-229,387,000 39,619 4.22 275 0.7Sep-30-229,387,000 36,550 3.89 293 0.8Jun-30-229,387,000 37,644 4.01 230 0.6Mar-31-229,387,000 35,779 3.81 337 0.9Dec-31-219,387,000 38,439 4.09 226 0.6Sep-30-219,387,000 38,547 4.11 263 0.7Jun-30-219,420,198 39,480 4.19 216 0.5Mar-31-214,710,099 21,904 4.65 217 1.01Refer to \"Use of Non-IFRS Financial Measures\"Shares Outstanding and Equity amounts are as at the Quarter End dateQuarterly Expenses amounts are for the Three months ending the Quarter End dateAs at December 31, 2022, Pinetree's equity was $39,619 which compares to $38,439 as at December 31, 2021. This resulted in Pinetree's BVPS increasing from $4.09 as at December 31, 2021 to $4.22 as at December 31, 2022. The change represents a increase of $0.13 or 3.2%.As at December 31, 2022, the Company held equity investments at fair value totaling$31,145 which represented 79% of book value. This compares to equity investments at fair value of $24,703 representing 64% of book value as at December 31, 2021.Earnings per share for the three months ended December 31, 2022 was $0.33 compared to loss per share of $0.01 for the three months ended December 31, 2021. Earnings per share for the twelve months ended December 31,...