Business
Yorkton Equity Group Inc. Reports Q3, 2021 Financial Results
(TheNewswire) E dmonton, Alberta – TheNewswire - December 1st, 202...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Reports Q3, 2021 Financial Results\n \n \n (TheNewswire)\n \n \n \n E\n \n \n dmonton, Alberta –\n \n \n TheNewswire -\n \n \n December 1st, 2021 – Yorkton Equity Group Inc. (“YEG”, the\n“Company” or “Yorkton”) (TSXV:YEG), is very pleased to\nannounce its financial results for the three and nine months ended\nSeptember 30, 2021, and to provide a corporate update.\n \n \n \n \n YORKTON MANAGEMENT DISCUSSION AND\nANALYSIS\n \n \n \n \n Mr. Ben Lui, President and CEO said “Yorkton has made\nsignificant gains in Q3 by having\n \n \n revenues increase by 291%\n \n \n and growing the\n \n \n total assets value\n \n \n by over\n$25.5 million\n \n \n from the previous year as a result\nof our recent successful completion of acquisitions throughout Alberta\nand British Columbia.\n \n \n \n All key metrics are improving\nincluding but not limited to rent collection, property renovations and\nupgrade programs across our portfolio, which are all moving in the\nright direction despite the challenges presented by the COVID-19\npandemic, a testament to our well experienced property management team\nwith over 30 years of experience.”\n \n \n \n \n \n A brief overview of the financial results for the\nreporting period below should be read in conjunction with the\nunaudited condensed consolidated interim financial statements and\nmanagement discussion and analysis, which have been filed on SEDAR on\nNovember 29, 2021:\n \n \n \n \n \n \n Increase in total assets value by $25,569,697 for the\nnine months ending September 30, 2021, related to investment\nproperties in Surrey, Kelowna, and Langford British Columbia, as well\nas Edmonton Alberta\n \n \n \n \n \n \n Net rental revenue increases of $146,395 for the three\nmonths and $33,340 for the nine months from the comparative periods\nending September 30, 2020, as a result of the acquisition of\nmulti-family rental properties and related rental revenue during the\nsecond and third quarters.\n \n \n \n \n \n \n Increase in general and administration expenses of\n$147,191 for the three months and $328,192 for the nine months, most\nof which were due to professional fees incurred during the initial\npublic company start-up phase and the ongoing costs of being a public\ncompany.\n \n \n \n \n \n \n Increase...