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Pinetree Capital Ltd Announces Unaudited Financial Results for the Period Ended June 30, 2024
TORONTO, ON / ACCESSWIRE / July 25, 2024 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or the "C...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Ltd Announces Unaudited Financial Results for the Period Ended June 30, 2024TORONTO, ON / ACCESSWIRE / July 25, 2024 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the three month period ended June 30, 2024. 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 June 30, 2024The 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, 2023, which can be found on SEDAR+ at www.sedarplus.ca.Selected Financial Information As at June 30, 2024 As at December 31, 2023 Total assets $55,871 $45,749 Total liabilities 356 377 Book Value 55,515 45,372 Shares outstanding 9,387,000 9,387,000 Book Value per share (BVPS) $5.91 $4.83 Shares Outstanding Equity$000's Book Value per share (BVPS)1$ Quarterly Expenses $000's Expenses as a percentage of BV1 Jun-30-24 9,387,000 55,515 5.91 159 0.3 Mar-31-24 9,387,000 56,485 6.02 179 0.3 Dec-31-23 9,387,000 45,372 4.83 148 0.3 Sep-30-23 9,387,000 41,399 4.41 190 0.5 Jun-30-23 9,387,000 42,111 4.49 260 0.6 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 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 June 30, 2024, Pinetree's equity was $55,515 as compared to $45,372 as at December 31, 2023. This resulted in Pinetree's BVPS increasing from $4.83 as at December 31, 2023 to $5.91 as at June 30, 2024. The change represents an increase of $1.08 or 22% in the year to date.As at June 30, 2024, the Company held equity investments at fair value totaling $50,428, which represented 91% of book value. This compares to equity investments at fair value of $38,428 representing 85% of book value as at December 31, 2023.Expenses for the twelve months ended June 30, 2024 were $676 which corresponds to 1.2% of book value as at June 30, 2024. This compares to expenses of $1,111...