Fronsac Real Estate Investment Trust Releases Annual Financial Statements
05 Abril 2013 - 5:32PM
Marketwired Canada
Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today
released its audited consolidated financial statements for the year ended
December 31, 2012.
The net income of the year was $1,071,495 or $0.051 per unit (2011: loss of
($102,391) or ($0.007)). The 2012 net income includes a gain of $999,361 related
to the increase in value of investment properties.
SUMMARY OF INCOME STATEMENT INFORMATION
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Income December 31, 2012 December 31, 2011
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Rental income $665,870 $512,242
Increase in value of investment
properties $999,361 $0
Net lncome (loss) $1,071,495 ($102,391)
Per unit - basic $0.051 ($0.007)
Weighted average units
outstanding - basic 20,985,587 13,974,219
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SUMMARY OF CASH FLOWS INFORMATION
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Cash Flows December 31, 2012 December 31, 2011
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Cash from operating activities $299,893 $51,407
Cash from investing activities ($2,634,554) ($361,215)
Cash from financing activities $2,717,456 $1,408,560
Increase (decrease) in cash $382,795 $1,098,752
Cash - beginning of year $1,985,720 $886,968
Cash - end of year $2,368,515 $1,985,720
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SUMMARY OF BALANCE SHEET INFORMATION
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Financial Position December 31, 2012 December 31, 2011
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Cash $2,368,515 $1,985,720
Investment Properties $11,521,954 $7,111,919
Total Assets $14,333,024 $9,335,868
Total Liabilities $4,832,944 $4,527,216
Total Equity $9,500,080 $4,808,652
Book value per unit $0.45 $0.23
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The Trust's December 31, 2012 financial statements may be viewed on SEDAR at
www.sedar.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Michel Lassonde
President
(450) 536-5328
Fronsac Real Estate Investment (TSXV:GAZ.UN)
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