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
| Earnings | December 31, 2010 | December 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 diluted | 12,598,904 | 11,336,438 |
SUMMARY OF CASH FLOWS INFORMATION
| Cash Flows | December 31, 2010 | December 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 Sheets | December 31, 2010 | December 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
Michel Lassonde
President
450-536-5328