Business & Finance
Business and Finance
Business and Finance
Fri, November 16, 2012
Thu, November 15, 2012 Fronsac Real Estate Investment Trust Releases Interim Financial Statements and Declares a Distribution to Unitholders
November 15, 2012 11:40 ET
Fronsac Real Estate Investment Trust Releases Interim Financial Statements and Declares a Distribution to Unitholders
MONTREAL, QUEBEC--(Marketwire - Nov. 15, 2012) - Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today released its unaudited consolidated financial statements for its third quarter ended September 30, 2012.
The net income of the quarter ended September 30, 2012 was $47,848 or $0.002 per unit [2011: net loss of ($80,710) or ($0.006) per unit].
SUMMARY OF INCOME STATEMENT INFORMATION
| Income | September 30, | September 30, | ||
| 2012 | 2011 | |||
| Revenue | $183,269 | $121,814 | ||
| Net lncome (loss) | $47,848 | ($80,710 | ) | |
| Per unit - basic and diluted | $0.002 | ($0.006 | ) | |
| Weighted average units outstanding - basic and diluted | 20,514,000 | 13,790,000 |
SUMMARY OF CASH FLOWS INFORMATION
| Cash Flows | September 30, | September 30, | ||
| 2012 | 2011 | |||
| Cash from operating activities | $88,735 | $60,312 | ||
| Cash from investing activities | ($35,207 | ) | ($333,377 | ) |
| Cash from financing activities | $30,505 | ($47,794 | ) | |
| Increase (decrease) in cash | $84,033 | ($320,859 | ) | |
| Cash - beginning of period | ($19,997 | ) | $776,073 | |
| Cash - end of period | $64,036 | $455,214 |
SUMMARY OF FINANCIAL POSITION INFORMATION
| Financial Position | September 30, | December 31, |
| 2012 | 2011 | |
| Cash | $64,036 | $1,985,720 |
| Investment Properties | $9,119,054 | $7,111,919 |
| Total Assets | $9,633,082 | $9,335,868 |
| Total Liabilities | $4,770,364 | $4,527,216 |
| Total Equity | $4,862,718 | $4,808,652 |
| Book value per unit | $0.24 | $0.23 |
The Trust's September 30, 2012 financial statements of Fronsac REIT may be viewed on SEDAR at [ www.sedar.com ]
On November 14, 2012, the Board of Fronsac REIT has declared a distribution of $0.00625 to unitholders of record on November 30, 2012 that will be paid on December 31, 2012.
Neither the TSX Venture Exchange Inc., nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accept any responsibility for the adequacy or accuracy of this release.
