Business
Pinetree Capital Ltd Announces Unaudited Financial Results for the Period Ended March 31, 2024
TORONTO, ON / ACCESSWIRE / April 25, 2024 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" or the "...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Ltd Announces Unaudited Financial Results for the Period Ended March 31, 2024TORONTO, ON / ACCESSWIRE / April 25, 2024 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the three months ended March 31, 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 March 31, 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.sedar.com.Selected Financial Information As at March 31, 2024 As at December 31, 2023 Total assets $56,820 $45,749 Total liabilities 335 377 Book Value 56,485 45,372 Shares outstanding 9,387,000 9,387,000 Book Value per share (BVPS) $6.02 $4.83 Shares Outstanding Equity Book Value per share (BVPS) 1 Quarterly Expenses Expenses as a percentage of BV 1 $000's $ $000's % 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 Jun-30-22 9,387,000 37,644 4.01 230 0.6 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, 2024, Pinetree's equity was $56,485 which compares to $45,372 as at December 31, 2023. This resulted in Pinetree's BVPS increasing from $4.83 as at December 31, 2023 to $6.02 as at March 31, 2024. The change represents an increase of $1.19 or 24.6%.As at March 31, 2024, the Company held equity investments at fair value totaling $53,051, which represented 94% 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 March 31, 2024 were $777 which corresponds to 1.4% of book value as at March 31, 2024. This compares to expenses of $1,081 for the ...