GC-Global Capital Corp. Announces its Financial Results for the First Quarter Ended March 31, 2011
30 Giugno 2011 - 3:30PM
Marketwired
GC-Global Capital Corp. ("Global Capital") (TSX VENTURE: GDE.A)
("GDE.A") is pleased to announce its financial results for the
first quarter ending March 31, 2011.
Highlights from the First Quarter
-- First quarter revenues of $899,103, an increase of 22% over Q1 in 2010;
-- Net income for the first quarter of $370,242 compared to $425,725 in Q1,
2010;
-- Earnings per share of $0.02 for the first quarter;
-- Increase in net asset value per share to $0.83;
-- Healthy cash and short-term investments balance of $1.6 million at the
end of the quarter.
Management's First Quarter Comments
For the first quarter Global Capital had revenue of $899,103
compared to revenue of $701,411 for the same period in 2010. Net
income was $370,242 or $0.02 per share compared to net income of
$425,725 or $0.02 per share for the same period in 2010. As at
March 31, 2011, Global Capital had net assets totaling $15.9
million or $0.83 per share compared to $15.6 million or $0.81 per
share as at December 31, 2010.
Chief Executive Officer, Jason Ewart commented, "We are pleased
with the results in the first quarter." He added, "During the
quarter we continued to deploy cash and increase our bridge loan
portfolio."
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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Contacts: GC-Global Capital Corp. Jason G. Ewart (416) 488-7760
www.gcglobalcapital.ca
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