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QCA Quinsam Capital Corporation

0.045
0.00 (0.00%)
21 Nov 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Quinsam Capital Corporation CSE:QCA CSE Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.045 0.04 0.045 0 00:00:00

Quinsam Monthly Update for May 2014; Earned $0.01 per Share in Q1

03/06/2014 1:05pm

Marketwired Canada


NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION BY ANY UNITED
STATES NEWS DISTRIBUTION 


Quinsam Capital Corporation (CSE:QCA) ("Quinsam" or the "Company") today
provided an update on activities for May 2014 and press released results for the
first quarter ending March 31, 2014.


Quinsam invested in two companies in May 2014.

Photon Control Inc. (PHO) has been reporting very impressive results for a
number of quarters. PHO designs, manufactures and distributes a wide range of
optical sensors & instruments to measure temperature, pressure, position, and
flow. These products are used by original equipment manufacturers as well as
end-users in the semiconductor, oil & gas, power, life science, and
manufacturing industries. PHO has been generating strong cash flow and buying
back its own stock, but remains at a very attractive multiple of run-rate
EBITDA. 


We also bought shares in Epicore Bionetworks Inc. (EBN). EBN provides advanced
and innovative products to the global aquaculture industry. Based on the use of
natural microbes and enzymes, EBN offers a broad range of environmentally
friendly biotech products. EBN's line of aquaculture products work to improve
growing water conditions, increase disease control and enhance animal nutrition.
EBN has been generating large increases in earnings and cash flow but still
trades at a single digit multiple of run-rate EPS. 


Performance Update

Quinsam would also like to take this opportunity to update investors on the
Company's recent performance.


The Company was profitable in May despite a very challenging month for small cap
stocks. As at the end of May 2014, the unaudited total value of the Quinsam's
cash and equity investments was approximately $1.8 million, compared with a
value of $1.8 million at the end of April 2014. 


In addition, Quinsam now holds over 1.5 million warrants with an aggregate basic
exercise value of approximately $700,000. The exercise value is not an
indication of the economic value of the warrants; we provide it to investors
only so they can understand the amount of upside leverage that we are
accumulating through our warrant portfolio. As at the end of May, the carrying
value on our books of our warrant portfolio was nil. 


"While the summer is sometimes regarded as a difficult time for small cap
stocks, we are not deterred. We see value in many parts of the market, such as
in PHO and EBN. We remain very comfortable with the small cap market outlook,"
Mr. Dent said.


Q1/2014 Results

In the first quarter ending March 31, 2014, Quinsam earned $0.01 per share
versus $0.00 in the preceding year. Revenue increased from nil to $117,099.


Roger Dent said, "We are very pleased to have registered $0.01 of EPS in our
first full quarter following our new business plan. It was a good quarter in the
small cap market and our investments performed well."


"We are also pleased that we were able to hold our operating expenses to just
$12,418 versus $6,646 in the preceding year when Quinsam had no operating
business. We intend to work diligently to manage our expenses tightly for our
shareholders on an ongoing basis." 


Full results are available on SEDAR.

About Quinsam Capital Corporation 

Quinsam is a merchant bank based in Canada. Our merchant banking business may
encompass a range of activities including acquisitions, advisory services,
lending activities and portfolio investments. Quinsam invests its capital for
its own account in assets, companies or projects which we believe are
undervalued and where we see a viable plan for unlocking such value. We do not
invest on behalf of any third party and we do not offer investment advice.  


Generally, Quinsam does not believe that individual investments are material
reportable events. Quinsam chooses to announce certain investments once the
company is certain that it has finished buying its position because the Company
feels that this information helps investors in Quinsam understand its investment
decision making process. Generally, Quinsam does not announce the sale of
investments. 


This press release may contain forward-looking statements relating to
anticipated future events, results, circumstances, performance or expectations
that are not historical facts but instead represent our beliefs regarding future
events, which are inherently uncertain. Forward-looking statements can often,
but not always, be identified by forward-looking words such as "anticipate",
"believe", "continue", "expect", "goal", "plan", "intend", "estimate", "may",
"project", "predict", "potential", "target", and "will" or similar words
suggesting future outcomes, or other expectations, beliefs, plans, objectives,
assumptions, intentions or statements about future events or performance. 


By their nature, forward-looking statements require us to make assumptions which
include, among other things, that (i) Quinsam will have sufficient capital under
management to effect its business strategies, (ii) the business strategies will
produce the results intended by Quinsam, and (iii) the markets will react and
perform in a manner consistent with the business strategies. 


Forward-looking information involves known and unknown risks, uncertainties and
other factors that may cause actual results or events to differ materially from
those anticipated in such forward-looking information. The Company believes that
the expectations reflected in the forward-looking information are reasonable but
no assurance can be given that these expectations will prove to be correct. Some
of the risks and other factors that could cause actual results to differ
materially from those expressed in forward-looking information expressed in this
press release include, but are not limited to: market and general economic
conditions, interest rates, regulatory and statutory developments, the nature of
the Company's investments, the available opportunities and competition for
investments, the concentration of the Company's investments in certain
industries and sectors, reliance on key personnel, risks affecting the Company's
investments, management of the growth of the Company, and exchange rate
fluctuations. Readers are cautioned that the foregoing list of risks and factors
is not exhaustive. Although the Company has attempted to identify important
factors that could cause actual events or results to differ materially from
those described in forward-looking information, there may be other factors that
cause events or results to differ from those intended, anticipated or estimated.



The forward-looking information contained herein is provided as at the date of
the date of this press release, based upon the opinions and estimates of
management and information available to management as at the date of this press
release. The Company does not undertake and specifically disclaims any intention
or obligation to update or revise any forward-looking information, whether as a
result of new information, future events or otherwise, unless required by
applicable law. Readers are cautioned not to place undue reliance on
forward-looking information contained in this press release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Quinsam Capital Corporation
John Lewis
Business Development
(416) 523-7086
john@quinsamcapital.com


Quinsam Capital Corporation
Eric Szustak
President
(905) 330-7948
eric@quinsamcapital.com


Quinsam Capital Corporation
Roger Dent
CEO
(647) 993 5475
roger@quinsamcapital.com
www.quinsamcapital.com

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