Genterra Capital Inc. reports year-end financial results
Genterra Capital Inc. (TSX Venture - "GIC" - Common)
TORONTO,
Jan. 22, 2013 /CNW/ - Effective
October 1, 2011, GCI began preparing
its consolidated financial statements in accordance with
International Financial Reporting Standards, with retroactive
restatement of comparative figures. Accordingly, the
financial statements for the year ended September 30, 2012 represent the first annual
financial statements of the Company prepared in accordance with
International Accounting Standards.
Revenues for the period under review were
$3,254,803 yielding a net loss of
$543,351 and a loss per share of
$0.06. The 2012 results include
the costs associated with the transition to IFRS. This compares
with revenues of $3,274,188, a net
loss of $286,240 and a loss per share
of $0.03 for the comparable 2011
period.
Capitalizing on favourable market conditions,
during the year, the Company successfully completed a $6 million 3.29% first mortgage refinancing on
one of its properties.
Genterra Capital Inc. is a management and
holding company whose assets include rental real estate properties
and investments.
Disclaimer: Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Genterra Capital Inc.