Trading Symbol: FFP
VANCOUVER, Aug. 29, 2016 /CNW/ - The financial results of Consolidated Firstfund Capital Corp. for the three months ended June 30, 2016 show a net income of $1,423 or $0.00 per share (2015 - $82,495 or $0.02 per share) on revenues of $79,716 (2015 - $237,145). The Company's fee income increased to $78,814 for the three months ended June 30, 2016 (2015 - $75,264). The Company's expenses decreased to $78,293 for the three months ended June 30, 2016 (2015 - $78,648). The Company's results in the second quarter of 2015 were impacted by the Company recording the 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 timeshare 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, 2016 and 2015 are available on SEDAR at www.sedar.com.
On behalf of the Board of
CONSOLIDATED FIRSTFUND CAPITAL CORP.
"W. Douglas Grant" (signed)
W. Douglas Grant, President & CEO
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.
SOURCE Consolidated Firstfund Capital Corp.
For further information: please contact: W. Douglas Grant, President & CEO at (604) 683-6611 or firstname.lastname@example.org