1. Homepage
  2. Equities
  3. Canada
  4. Bourse de Toronto
  5. Kadestone Capital Corp.
  6. News
  7. Summary
    KDSX   CA4828461026

KADESTONE CAPITAL CORP.

(KDSX)
Delayed Bourse de Toronto  -  02:16 2022-06-22 pm EDT
1.630 CAD   -1.21%
06/01KADESTONE CAPITAL : Management Discussion & Analysis - Q1 2022
PU
05/20Kadestone Capital Q1 Net Loss Widens to $0.02 Per Share Vs $0.01 Per Share Year Ago
MT
05/19Kadestone Capital Corp. Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

KADESTONE CAPITAL CORP. REPORTS Q1 2022 FINANCIAL RESULTS

05/19/2022 | 05:59pm EDT

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

 VANCOUVER, BC  , May 19, 2022 /CNW/ - Kadestone Capital Corp. ("Kadestone" or the "Company") (TSXV: KDSX) (OTCB: KDCCF), a vertically integrated property company today announced its financial results for the three months ended March 31, 2022.

"We are excited about our progress so far this year at identifying additional investment opportunities. We expect to see the results of our efforts later in 2022, as we continue to believe that real estate projects in the Vancouver region will benefit from the Kadestone platform," said Brent Billey, the Company's CEO.

Financial Results

The Company recorded a net loss for the three months ended March 31, 2022 of $1,030,243 or $0.02 per share compared with a net loss of $577,183 or $0.01 per share for the same period in the prior year. This loss was primarily due to expenses incurred for the ongoing operations of the Company which included salaries and wages of $169,951, share-based compensation of $290,677, interest expense of $203,523 and professional fees of $282,690. Our net cash used in operating activities for the three months ended March 31, 2022 decreased to $365,637 compared to $485,196 for the three months ended March 31, 2021.

The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of application as described in notes 2 and 3 of the Company's audited consolidated financial statements for the year ended December 31, 2021.

About Kadestone

Kadestone was established to pursue the investment in, acquisition, development and management of residential and commercial income producing properties and procurement and sale of building materials within major urban centres and high-growth, emerging markets in Canada. The Company operates five complimentary business lines spanning building materials procurement and supply, property development and construction, construction finance, asset ownership and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at www.kadestone.com.

ON BEHALF OF THE BOARD

(signed) "Brent Billey"

President, CEO and Director

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.

Cautionary Statement Regarding Forward- Looking Statements

Certain information in this press release, including, but not limited to, statements that the capital from  the sale of the Kyle Road property will allow the Company to pay down debt and the Company's vision to become a leading vertically integrated property company, may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. As a result, you should not rely on such forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Kadestone is contained in Kadestone's filings with the Canadian securities regulators available at www.sedar.com. These risks include those described in the "Risk Factors" section of the Company's final prospectus dated September 2, 2020 and in the Management's Discussion and Analysis for the years ended December 31, 2021 and 2020. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Kadestone Capital Corp.

© Canada Newswire, source Canada Newswire English

All news about KADESTONE CAPITAL CORP.
06/01KADESTONE CAPITAL : Management Discussion & Analysis - Q1 2022
PU
05/20Kadestone Capital Q1 Net Loss Widens to $0.02 Per Share Vs $0.01 Per Share Year Ago
MT
05/19Kadestone Capital Corp. Reports Earnings Results for the First Quarter Ended March 31, ..
CI
05/19Kadestone capital corp. reports q1 2022 financial results
AQ
05/02Kadestone capital corp. announces loan agreement
AQ
05/02Kadestone Capital Corp. Enters into Loan Agreement with Zhang Family Trust
CI
04/30150,000 Options of Kadestone Capital Corp. are subject to a Lock-Up Agreement Ending on..
CI
04/303,262,721 Common Shares of Kadestone Capital Corp. are subject to a Lock-Up Agreement E..
CI
04/18KADESTONE CAPITAL CORP.(TSXV : KDSX) dropped from S&P/TSX Venture Composite Index
CI
02/18Kadestone Capital Corp. Reports Earnings Results for the Full Year Ended December 31, 2..
CI
More news
Financials
Sales 2021 0,21  0,16  0,16 
Net income 2021 -2,89 M -2,23 M -2,23 M
Net Debt 2021 3,67 M 2,84 M 2,84 M
P/E ratio 2021 -28,2x
Yield 2021 -
Capitalization 75,8 M 58,7 M 58,7 M
EV / Sales 2020 -
EV / Sales 2021 406 719 513x
Nbr of Employees -
Free-Float 33,5%
Chart KADESTONE CAPITAL CORP.
Duration : Period :
Kadestone Capital Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
Brent Billey President, Chief Financial Officer & Director
David Negus Chief Financial Officer & Secretary
Michael Geller Chairman
David Negrin Independent Director
Norman Joseph Mayr Independent Director