In This Article:
TORONTO, Oct. 28, 2024 (GLOBE NEWSWIRE) -- ThreeD Capital Inc. (“ThreeD” or the “Company”) (CSE:IDK / OTCQX:IDKFF) a Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, is pleased to announce its audited annual results for the year ended June 30, 2024.
As at June 30, 2024, the Company had cash, investments and digital assets of $55.2 million.
As at June 30, 2024, net asset value per share was $0.86 as compared to $0.79 as at June 30, 2023. (See “Use of Non-GAAP Financial Measures” elsewhere)
Financial Highlights for the year ended June 30, 2024 with comparatives:
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| Operating Results | June 30, 2024 |
| June 30, 2023 | ||||
| Net investment and digital assets gains (losses) | $ | (6,259,447 | ) |
| $ | (9,378,547 | ) |
| Operating, general and administrative expenses |
| (4,257,862 | ) |
|
| (3,206,217 | ) |
| Net income (loss) for the period |
| 4,017,533 |
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| (12,292,559 | ) |
| Total comprehensive income (loss) for the period |
| 4,016,934 |
|
|
| (12,293,033 | ) |
| Basic income (loss) per common share |
| 0.08 |
|
|
| (0.25 | ) |
| Diluted income (loss) per common share |
| 0.08 |
|
|
| (0.25 | ) |
| Consolidated statement of financial position highlights | June 30, 2024 |
| June 30, 2023 | ||||
| Cash | $ | 482,146 |
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| $ | 4,555 |
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| Investments, at fair value |
| 51,577,705 |
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| 35,880,457 |
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| Digital assets, at fair value less cost to sell |
| 3,156,065 |
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| 4,013,265 |
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| Total assets |
| 56,174,715 |
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| 40,354,256 |
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| Due to brokers |
| 10,577,913 |
|
|
| 172 |
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| Advances from officer |
| - |
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|
| 35,000 |
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| Total liabilities |
| 11,455,313 |
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| 662,420 |
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| Share capital, contributed surplus, warrants |
| 151,573,492 |
|
|
| 150,562,860 |
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| Foreign currency translation reserve |
| 875,102 |
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| 875,701 |
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| Deficit |
| (107,729,192 | ) |
|
| (111,746,725 | ) |
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Sheldon Inwentash, Chairman and CEO of ThreeD, stated “ThreeD experienced significant growth throughout the year ended June 30, 2024. The Company’s investments increased by 44% from last year as a result of the Company executing on its strategy to find and invest in companies involved in disruptive technologies that have the potential for large scale returns. As the Company’s portfolio of investments continues to strengthen and grow, ThreeD is in a prime position to capitalize on its opportunities and realize returns on its investments.”
Use of Non-GAAP Financial Measures:
This press release contains references to “net asset value per share” (“NAV”) which is a non-GAAP financial measure. NAV is calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP financial measure presented in ThreeD’s consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company believes that the measure provides information useful to its shareholders in understanding our performance, and may assist in the evaluation of the Company’s business relative to that of its peers.