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GT Canada Medical Properties Inc (TSX-V: MOB) announces second quarter 2010 financial results

^{Published on 2010-08-13 15:05:53 - Market Wire}
 

 - Subsequent to the end of Q2 2010, on August 4, 2010, the Company completed a private placement and issued 1,000,000 common shares at a price of $0.27 per share for total gross proceeds of $270,000. These common shares are subject to a four-month hold period expiring December 5, 2010. The net proceeds of approximately $257,858 from this private placement are for expanding the acquisition pipeline, conducting due diligence and general working capital. 

 - For the three month period ended June 30, 2010, the Company had property rental revenues of $143,439. There were no such comparable revenues in Q1 of 2009. - For the three month period ended June 30, 2010, the Company had a net loss of $275,352 or $.0139 per share basic. For the same period of 2009, the Company had a net loss of $607,039, or $0.2428 per share basic. The net loss in 2010 was largely a result of a charge of $88,382 for professional fees and general and administrative and travel costs of $168,673 for the three month period ended June 30, 2010. The professional fees of $88,382 relate to corporate activities. The G&A and related costs are being incurred to enable the company to build its acquisition pipeline and be in a position to execute its business plan.