Trading Symbol: FFP
VANCOUVER, April 30 /CNW/ - The Company wishes to announce its 2008 results from operations based upon its audited consolidated financial statements for the year ended December 31, 2008.
The financial results of the Company for the year ended December 31, 2008 show a loss of $499,566 or $0.08 per share (2007 - income of $433,997 or $0.07 per share) on revenues of $305,319 (2007 - $718,901). During the year ended December 31, 2008, the Company realized gains on the sale of available-for-sale investments of $Nil (2007 - $470,110). The Company disposed of investments in Common shares and Preference shares of Vitality Products Inc. in 2007.
The financial results of the Company for its fourth quarter of 2008 show a loss of $296,443 or $0.05 per share (2007 - income of $22,453 or $0.00 per share) on revenues of $80,718 (2007 - $357,725). During the fourth quarter of 2008 the Company recorded a loss of $263,868 (2007 - $Nil) to recognize an other than temporary impairment to the carrying value of its investment in Common shares of Vitality Products Inc. The Company's fee income was $78,522 for the three months ended December 31, 2008 (2007 - $347,865). No additional fee income, above and beyond the Company's monthly administration fees, was received in the fourth quarter of 2008. During the fourth quarter of 2007, the Company received US$276,489 from Gold Star Resorts Inc. for the successful completion of the Sandcastle Resort project.
The Company's audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2008 are available on SEDAR at www.sedar.com.
On behalf of the Board of CONSOLIDATED FIRSTFUND CAPITAL CORP. William N. Grant (signed) --------------------------------- William N. Grant, President & CEO The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
%SEDAR: 00002533E