Trading Symbol: FFP
VANCOUVER, April 30, 2012 /CNW/ - Consolidated Firstfund Capital Corp. wishes to announce its 2011 results from operations based upon its audited consolidated financial statements for the year ended December 31, 2011.
The financial results of the Company for the three months ended December 31, 2011 show a net income of $51,905 or $0.01 per share (2010 - a net loss of $91,338 or $0.02 per share) on revenues of $185,297 (2010 - $71,042). No additional fee income, above and beyond the Company's monthly administration fees, was received in the fourth quarter of 2011. The Company's fee income increased to $70,388 for the three months ended December 31, 2011 (2010 - $70,278). The Company's results in the fourth quarter of 2011 were impacted by the Company recording the net proceeds of $111,931 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 $42,856 resulting in a gain on the sale of $69,075.
The financial results of the Company for the year ended December 31, 2011 show a net loss of $78,318 or $0.01 per share (2010 - $277,685 or $0.05 per share). The Company's fee income decreased to $273,422 for the year ended December 31, 2011 (2010 - $284,721).
The Company's audited consolidated financial statements and management's discussion and analysis for the year ended December 31, 2011 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.
For further information:
W. Douglas Grant, President & CEO at (604) 683-6611 or [email protected]