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SNI.PR.A Sonor Investments Ltd

5.50
0.00 (0.00%)
31 May 2024 - Closed
Delayed by 15 minutes
Name Symbol Market Type
Sonor Investments Ltd TSXV:SNI.PR.A TSX Venture Preference Share
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 5.50 5.35 5.54 0 01:00:00

Sonor Investments Limited Reports Second Quarter Financial Results

17/08/2010 8:55pm

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Sonor Investments (TSXV:SNI.PR.A)
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Sonor Investments Limited (TSX VENTURE: SNI.PR.A) today reported its financial results for the six months ended June 30, 2010.


                             6 months ended June 30   3 months ended June 30
                                     2010      2009           2010      2009
                                     $000      $000           $000      $000
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Revenue                               288       302            144        43

Net Income (loss)                      71     (228)             68      (22)
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Michael Gardiner, President and Chief Executive Officer, stated that as at June 30, 2010 the Company's assets totaled $50.2 million. These assets included $13.2 million of marketable securities, $31.9 million in a private investment and $5.1 million of cash and cash equivalents.

During the six months ended June 30, 2010, the Company realized net capital gains of $9,000 on the sale of investments with no write down of assets compared to net capital losses of $14,000 and a write down of $345,000 during the six months ended June 30, 2009. During the three months ended June 30, 2010, Sonor realized net capital gains of $9,000 on the sale of investments compared to net capital losses of $55,000 during the corresponding period of the previous year.

During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.

The Company has begun the implementation of its International Financial Reporting Standards ("IFRS") changeover plan required by financial regulators in Canada commencing January 1, 2011. It is not expected that the IFRS will materially impact the Company's operating results.

Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.

Contacts: Sonor Investments Limited Mr. Michael Gardiner President and CEO (416) 369-1499 Sonor Investments Limited Mr. Stephen Mills Treasurer & CFO (416) 369-1499

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