Fronsac Real Estate Investment Trust Releases Interim Financial Statements
21 Agosto 2012 - 6:11PM
Marketwired Canada
Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today
released its unaudited consolidated financial statements for the second quarter
ended June 30, 2012.
The net loss of the second quarter was $(8,833) or $(0.000) per unit (2011: net
income of $9,579 or $0.001 per share). The net loss of this quarter is largely
attributable to expenses calculated on the variation of the quoted price of the
units. These expenses, in the amount of $65,500, are non-cash expenses. For the
quarter of June 30, 2011, the operations were conducted under the name of
Fronsac Capital Inc..
SUMMARY OF INCOME STATEMENT INFORMATION
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June 30, June 30,
Income 2012 2011
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Revenue $ 162,259 $ 131,859
Net lncome (loss) $ (8,833) $ 9,579
Per unit - basic and diluted $ (0.000) $ 0.001
Weighted average units outstanding - basic and
diluted 20,514,000 13,790,000
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SUMMARY OF CASH FLOWS INFORMATION
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June 30, June 30,
Cash Flows 2012 2011
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Cash from operating activities $ 61,596 $ (26,448)
Cash from investing activities $ (2,229,485) $ 17,000
Cash from financing activities $ 1,843,251 $ (47,794)
Increase (decrease) in cash $ (324,638) $ (57,242)
Cash - beginning of period $ 304,641 $ 833,315
Cash - end of period $ (19,997) $ 776,073
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SUMMARY OF FINANCIAL POSITION INFORMATION
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June 30, December 31,
Financial Position 2012 2011
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Cash $ (19,997) $ 1,985,720
Investment Properties $ 9,091,304 $ 7,111,919
Total Assets $ 9,529,555 $ 9,335,868
Total Liabilities $ 4,586,472 $ 4,527,216
Total Equity $ 4,943,083 $ 4,808,652
Book value per unit $ 0.24 $ 0.23
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The Trust's June 30, 2012 financial statements may be viewed on SEDAR at
www.sedar.com
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