Mr. W. Douglas Grant reports
FIRSTFUND REPORTS 2015 SECOND QUARTER RESULTS
Consolidated Firstfund Capital Corp. has released its results from operations for its second quarter ended June 30, 2015. The financial results of the company for the three months ended June 30, 2015, show a net income of $82,495 or two cents per share (2014: a net loss of $14,112 or nil per share) on revenues of $237,145 (2014: $67,896). No additional fee income, above and beyond the company's monthly administration fees, was received in the second quarter of 2015. The company's fee income was $75,264 for the three months ended June 30, 2015, (2014: $66,932). The company's results in the second quarter of 2015 were impacted by the company recording net proceeds of $160,059 to GoldStar Resort Destinations Inc., a wholly owned subsidiary of the company, from the sale of a condominium unit in its time-share program. The cost of the sale was $76,002 resulting in a gain on the sale of $84,057.
The company's condensed consolidated interim financial statements and management's discussion and analysis for the six months ended June 30, 2015, and 2014, are available on SEDAR.
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