Fronsac Real Estate Investment Trust
TSX VENTURE : GAZ.UN

May 25, 2012 12:54 ET

Fronsac Real Estate Investment Trust Releases Interim Financial Statements

MONTREAL, QUEBEC--(Marketwire - May 25, 2012) - Fronsac real estate investment trust ("Fronsac REIT") (TSX VENTURE:GAZ.UN) today released its unaudited consolidated financial statements for the first quarter ended March 31, 2012.

The net income of the first quarter was $94,514 or $0.005 per unit [2011: net income of $11,272 or $0.001 per share]. For the quarter of March 2011, the operations were conducted under the name of Fronsac Capital Inc..

SUMMARY OF INCOME STATEMENT INFORMATION

Income March 31, 2012 March 31, 2011
Revenue $145,878 $122,725
Net lncome $94,514 $11,272
Per unit - basic and diluted $0.005 $0.001
Weighted average units outstanding - basic and diluted 20,514,000 13,790,000

SUMMARY OF CASH FLOWS INFORMATION

Cash Flows March 31, 2012 March 31, 2011
Cash from operating activities $75,700 $2,533
Cash from investing activities $0 ($8,392 )
Cash from financing activities $(1,756,779 ) $(47,794 )
Increase (decrease) in cash $(1,681,079 ) $(53,653 )
Cash - beginning of period $1,985,720 $886,968
Cash - end of period $304,641 $833,315

SUMMARY OF FINANCIAL POSITION INFORMATION

Financial Position March 31, 2012 December 31, 2011
Cash $304,641 $1,985,720
Investment Properties $7,111,919 $7,111,919
Total Assets $7,611,343 $9,335,868
Total Liabilities $2,708,177 $4,527,216
Total Equity $4,903,166 $4,808,652
Book value per unit $0.24 $0.23

The Trust's March 31, 2012 financial statements 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

  • Michel Lassonde
    President
    (450) 536-5328