We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Spackman Equities Group Inc | TSXV:SQG | TSX Venture | 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% | 0.04 | 0.01 | 0.01 | 0 | 01:00:00 |
TORONTO, ONTARIO--(Marketwired - May 1, 2014) - Spackman Equities Group Inc. (the "Company" or "SEGI") (TSX-VENTURE:SQG) today reported its financial results for the year ended December 31, 2013.
Revenue for the year ended December 31, 2013 was $12,924,424 compared to $6,234,458 for the same period one year ago, an increase of 107.3% for the year. The increase in revenue is primarily attributable to the commercial success of the film COLD EYES, which was produced by SEGI's subsidiary ZIP Cinema Co., Ltd.
Net profit for the year was $1,876,755 or $0.013 per share compared with a net loss of $913,757 or $0.007 for fiscal 2012, an increase of 305.4% for the year.
At December 31, 2013 SEGI had $14.7 million in cash, cash equivalents and marketable securities, or $0.099 per share. There are 148,900,183 common shares outstanding.
Regarding the results for the fiscal year 2013, Charles Spackman, Chairman and Chief Executive Officer of SEGI said, "We are pleased to announce our 2013 year-end results which increased significantly year-on-year predominantly due to the box office success of COLD EYES produced by our subsidiary Zip Cinema. Any production income derived from the 2013 release of SNOWPIERCER, which was produced by our subsidiary Opus Pictures, is expected at the end of this current year or next year as the film is still playing in theaters throughout the world. This year, we are looking forward to the release of four films by Zip Cinema and Opus Pictures, and especially to the planned Singapore listing of our subsidiary, Spackman Entertainment Group Limited, expected at the end of June or early July."
The audited financial statements for the year ended December 31, 2013 and Management's Discussion and Analysis of the results, are posted on SEDAR at www.sedar.com.
Highlights of Fiscal 2013
About Spackman Equities Group Inc.
Spackman Equities Group Inc. ("SEGI") is an investment holding company that invests into and develops small/medium-sized growth companies that possess industry-specific know-how or proprietary technologies, primarily in Asia. SEGI also makes investments in selected publicly-traded companies that SEGI believes are attractive investment propositions. The objectives of SEGI are to (i) invest into or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified and balanced portfolio of investments, and (iii) deliver the collective value derived from the performance of its portfolio of investments to the shareholders of SEGI. As of April 30, 2014, SEGI's holdings include:
Visit www.spackmanequities.com for further information.
About Spackman Entertainment Group Limited
Spackman Entertainment Group Limited ("SEGL") is a leading entertainment production company that is primarily engaged in the independent development, production, and financing of theatrical motion pictures in Korea.
Its two wholly-owned motion picture production subsidiaries, namely, Zip Cinema Co., Ltd. ("Zip") and Opus Pictures Limited Liability Company ("Opus"), are two of the most recognized film production labels in Korea, and have originated and produced some of Korea's most commercially successful theatrical films for the past seven years. Films produced by Zip and Opus are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including cable television, broadcast television, IPTV, video-on-demand, and home video/DVD, etc. Zip and Opus' motion pictures are released into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.
Collectively, Zip and Opus produced and released a total of 14 theatrical motion pictures since 2007, the majority of which were profitable and some of which were among the top grossing films in Korea in recent years. Recent theatrical releases of our motion pictures include some of Korea's highest grossing and award-winning films such as SNOWPIERCER (2013), COLD EYES (2013), and ALL ABOUT MY WIFE (2012).
SEGL also owns 100% of Spackman Entertainment Korea Inc. ("SEKI"), an investment company incorporated in Korea that makes early-stage investments into films developed and produced by Zip and Opus. SEKI also owns a majority equity interest in Upper West Inc., the operator of a trendy café lounge in Korea's Gangnam district.
On August 2, 2013, SEGL engaged PrimePartners Corporate Finance Pte. Ltd. as its Full Sponsor to prepare for an initial public offering on the Catalist board of the Singapore Exchange. Through this proposed listing, SEGL plans to raise capital to expand Zip's and Opus' future slate of productions, make further acquisitions of production businesses and brands, and for general working capital. The listing is expected to be completed in June/July 2014.
Visit www.zipcine.com and www.opuspictures.com for further information.
Forward-Looking Statements
Included in this news release may be matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) has in any way approved or disapproved of the contents of this press release.
Spackman Equities Group Inc.Floria Lin+852 3902 3287info@spackmanequities.comwww.spackmanequities.com
1 Year Spackman Equities Chart |
1 Month Spackman Equities Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions