50 Plus reports latest financials
The troubled Fifty Plus magazine has announced its first quarter results, for the period ended September 30.
Net income for the quarter was $56,919 compared to net income of $36,233 for the comparable quarter last year.
Revenues were up $13,986 for the quarter to $210,786 including increased advertising revenues of $23,044. Expenses were down about 4% for the quarter, to $153,867 compared to $160,567 last year.
The Company had cash on hand of $43,750 and a working capital deficiency of $239,769. Recently it was announced that senior management and the directors agreed to forgo more than $200,000 in deferred liabilities owed to them by the company, once $200,000 of a $400,000 line of credit, guaranteed by an unnamed source, had been advanced
The complete financial statements are available at the company's website under "Investor relations". Fifty-Plus.net International Inc. is a publicly owned company listed on the Canadian Venture Exchange under the symbol FPN, making it one of only a few Canadian magazines traded on the stock exchange as themselves (rather than as part of a much larger printing or communications company).
Net income for the quarter was $56,919 compared to net income of $36,233 for the comparable quarter last year.
Revenues were up $13,986 for the quarter to $210,786 including increased advertising revenues of $23,044. Expenses were down about 4% for the quarter, to $153,867 compared to $160,567 last year.
The Company had cash on hand of $43,750 and a working capital deficiency of $239,769. Recently it was announced that senior management and the directors agreed to forgo more than $200,000 in deferred liabilities owed to them by the company, once $200,000 of a $400,000 line of credit, guaranteed by an unnamed source, had been advanced
The complete financial statements are available at the company's website under "Investor relations". Fifty-Plus.net International Inc. is a publicly owned company listed on the Canadian Venture Exchange under the symbol FPN, making it one of only a few Canadian magazines traded on the stock exchange as themselves (rather than as part of a much larger printing or communications company).
posted by D. B. Scott at
7:53 am
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