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Fountain Asset Corp. Announces Financial Results for the Second Quarter 2019

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Fountain Asset Corp. (TSXV:FA) (“Fountain” or the “Company”) is pleased to announce financial results for the second quarter ended June 30, 2019 (“Q2/19“).

“The Company posted a decline in Adjusted Net Asset Value quarter over quarter during Q2/19.  The decline was driven by weakness in the cannabis sector,” said Andrew Parks, CEO of Fountain.

Highlights from the three months ended June 30, 2019:

  • Adjusted net asset value (“ANAV“) of $37.56 million ($0.63 per share) at June 30, 2019 compared with $40.60 ($0.68per share) at March 31, 2019, representing a 7.4% decrease quarter over quarter on a per-share basis. ANAV reflects the net asset value plus the amount of available tax loss pools available;
  • Net comprehensive loss of $3.04 million compared to income of $4.19 million for three months ended June 30, 2018 (“Q2/18“);
  • Total losses from investment activity was $2.65 million compared to revenue of $4.57 million for Q2/18;
  • Net realized gains on the sale of portfolio investments of $1.26 million compared to net realized gains of $2.05 million for Q2/18;
  • Net unrealized losses on portfolio investments of $4.15 million compared to net unrealized gains of $2.35 million for Q2/18;
  • Total expenses of $0.39 million, including stock-based compensation of $0.09 million, compared to $0.38 million, including stock-based compensation of $0.13 million, for Q2/18; and
  • Operating expenses of $0.29 million compared to $0.25 million for Q2/18.

Highlights from the six months ended June 30, 2019:

  • ANAV of $37.56 million ($0.63 per share) at June 30, 2019 compared to $36.77 million ($0.63 per share) at December 31, 2018, representing no increase year to date on a per share basis;
  • Net comprehensive income of $0.89 million compared to $2.57 million for the six months ended June 30, 2018;
  • Total revenue from investment activity decreased to $1.59 million compared to $3.18 million for the six months ended June 30, 2018;
  • Net realized gains on the sale of portfolio investments of $1.58 million compared to net realized gains of $6.50 million for the six months ended June 30, 2018;
  • Net unrealized losses on portfolio investments of $1.01 million compared to net unrealized losses of $3.57 millionfor the six months ended June 30, 2018;
  • Total expenses of $0.70 million, including stock-based compensation of $0.20 million, compared to $0.61 million, including stock-based compensation of $0.13 million, for the six months ended June 30, 2018; and
  • Operating expenses of $0.50 million compared to $0.48 million for the six months ended June 30, 2018.

During the quarter, the Company saw a decline in performance from its portfolio driven by investments in Green Growth Brands and 3 Sixty Risk Solutions Ltd.  This was offset by gains on our investment in HTC Purenergy.

A full set of Q2/19 unaudited financial statements and the management discussion & analysis are available on SEDAR.

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SOURCE Fountain Asset Corp.

Blockchain

Bybit Invites Traders to Embark on a Token Treasure Hunt

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Bybit Invites Traders to Embark on a Token Treasure Hunt

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India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica

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UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System

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The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.

Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.

“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”

ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.

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“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”

The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.

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