Financial Results Announcement: Kadestone Capital Corp. Reports Financial Results for the Three Months Ended March 31, 2024
Kadestone Capital Corp. Announces Financial Results for Q1 2024
VANCOUVER, BC, May 17, 2024 – Kadestone Capital Corp. (TSXV: KDSX) (OTCB: KDCCF), a leading vertically integrated property company, has released its financial results for the first quarter ended March 31, 2024.
The company reported a net loss of $1,103,796 or $0.02 per share for the quarter, compared to a net loss of $749,557 or $0.02 per share for the same period last year. The loss was attributed to expenses related to ongoing operations, including consulting fees, salaries, professional fees, share-based compensation, and interest expenses, partially offset by interest revenue. Net cash used in operating activities decreased to $966,500 for the quarter, compared to $1,080,282 for the same period in 2023.
The financial information, presented in Canadian dollars and prepared in accordance with International Financial Reporting Standards, reflects the company’s commitment to transparency and accountability.
Kadestone Capital Corp. was established to invest in, acquire, develop, and manage residential and commercial properties in major urban centers and high-growth emerging markets in Canada. The company’s business lines include development and construction, construction finance, asset ownership, and property management, all aimed at solidifying its position as a market-leading property company.
President, CEO, and Director Brent Billey expressed the company’s vision to become a leading vertically integrated property company, emphasizing its commitment to identifying opportunities and securing additional investments in 2024.
Investors and stakeholders are encouraged to visit Kadestone’s website at www.kadestone.com for additional information.
The company’s forward-looking statements, while optimistic, are subject to risks and uncertainties, as outlined in its filings with Canadian securities regulators. Kadestone remains dedicated to providing updates and revisions as necessary to ensure compliance with applicable laws.
For more information, please visit the original press release on Cision: http://www.newswire.ca/en/releases/archive/May2024/17/c6734.html
SOURCE Kadestone Capital Corp.
