GC-Global Capital Corp. Announces its Financial Results for the Second Quarter Ended June 30, 2011
29 August 2011 - 10:30PM
Marketwired Canada
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to
announce its financial results for the second quarter ending June 30, 2011.
Results from the Second Quarter
-Second quarter revenues of $276,896 versus $232,773 in the second
quarter of 2010;
-Net loss for the second quarter of $599,949 compared to $396,856 in
Q2, 2010;
-Loss per share of $0.03 for the second quarter;
-Net asset value per share of $0.78 at quarter end;
-Healthy cash and short-term investments balance of $2.9 million at
the end of the quarter.
Management's Second Quarter Comments
As at June 30, 2011 Global Capital had net assets totaling $14.6 million or
$0.78 per share compared to $15.6 million or $0.81 per share as at December 31,
2010. Net loss for the six months ended June 30, 2011 was $229,706 (2010 - net
income of $28,869) Net loss for the quarter ended June 30, 2011 was $599,949
(2010 - $396,856).
A full set of unaudited financial statements and related notes have been filed
on SEDAR.
About GC-Global Capital Corp.
Global Capital is a merchant bank, which provides bridge loan services, to
companies across many industries such as oil & gas, mining, real estate,
manufacturing, retail, financial services, technology and biotechnology.
Forward-Looking Information
These materials include certain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Other than statement of
historical fact, all statements in this material, including, without limitation,
statements regarding fair values of marketable securities, investments, bridge
loans, convertible debentures, estimated asset retirement obligations, and
future plans and objectives of the Company, are forward-looking statements that
involve various known and unknown risks, uncertainties and other factors. There
can be no assurance that such statements will prove accurate. Actual results and
future events could differ materially from those anticipated in such statements.
Readers are cautioned not to place undue reliance on these forward-looking
statements that speak only as of the date of these materials. Important factors
that could cause actual results to differ materially from the Company's
expectations include, without limitation, the level of bridge loans completed,
the nature and credit quality of the collateral security, the sufficiency of
cost estimates for remaining reclamation obligations as well as those factors
discussed in the Company's documents filed from time to time with the TSX
Venture Exchange, Canadian securities regulators and other regulatory
authorities. All subsequent written and oral forward-looking statements
attributable to the Company or persons acting on its behalf are expressly
qualified in their entirety by this notice.
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