Fronsac Capital Inc.
TSX VENTURE : GAZ

Fronsac Capital Inc.

April 12, 2011 13:41 ET

Fronsac Capital Inc. Releases Annual Financial Statements

MONTREAL, QUEBEC--(Marketwire - April 12, 2011) - Fronsac Capital Inc. ("Fronsac") (TSX VENTURE:GAZ) today released its audited financial statements for the year ended December 31, 2010.

The net loss for the year ended December 31, 2010 was $(345,349) or $(0.027) per share [2009: $(54,393) or $(0.005)].

SUMMARY OF INCOME STATEMENT INFORMATION

EarningsDecember 31, 2010December 31, 2009
Revenue$478,824$332,964
Net income (loss)$(345,349)$(54,393)
Per share – basic and diluted$(0.027)$(0.005)
Weighted average shares outstanding – basic and diluted12,598,90411,336,438

SUMMARY OF CASH FLOWS INFORMATION

Cash FlowsDecember 31, 2010December 31, 2009
Cash from operating activities$164,621$86,559
Cash from investing activities$(24,704)$(1,841,860)
Cash from financing activities$358,573$951,779
Increase (decrease) in cash$498,490$(803,522)
Cash – beginning of year$388,478$1,192,000
Cash – end of year$886,968$388,478

SUMMARY OF BALANCE SHEET INFORMATION

Balance SheetsDecember 31, 2010December 31, 2009
Cash$886,968$388,478
Real Estate Investments$5,049,579$5,218,515
Total Assets$6,106,022$5,962,848
Total Liabilities$3,697,141$3,770,368
Share Capital$3,190,000$2,605,000
Total Shareholders' Equity$2,408,881$2,192,480

The Company's December 31, 2010 financial statements and MD&A may be viewed on SEDAR at www.sedar.com

Neither the TSX Venture Exchange Inc., nor its Regulatory Services Provider (as that term is defined in the Policy of the TSX Venture Exchange) accept any responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fronsac Capital Inc.
    Michel Lassonde
    President
    450-536-5328