VANCOUVER, March 29, 2019 /CNW/ - Parkit Enterprise
Inc. ("Parkit" or the "Company") (TSX-V:PKT;
OTCQX: PKTEF) has recently filed its interim financial statements,
and management's discussion and analysis for the quarter ended
January 31, 2019 ("Q1 2019") on SEDAR
(www.sedar.com). The financial highlights for the period
include:
- Revenue of $108,650, comprised of
parking services revenue, fee income, profit from joint ventures
and profit from associate;
- Net loss of $255,172, or
$(0.01) per share, inclusive of a
foreign exchange loss of $6,723;
- Free cash flow in the quarter of $511,921 consisting of cash flow from operations
of $(256,002) and cash flow from
investing activities of $767,923.
- Working capital of $1,099,205
(including cash of $3,023,732);
- Net asset value increased to $21,237,718 equivalent to $0.61 per share.
"This quarter the Company positioned itself to take advantage of
the cash flows it will receive from our joint venture. As we
continue to monetize assets, we believe we will generate
significant unencumbered cash that can be used for future
acquisitions or to return to shareholders," stated Parkit's
Executive Chairman, David
Delaney.
For a more full explanation of the Company's Q1 2019 results,
please refer to the Company's interim filings on SEDAR or the
Company's website. For a copy of the Company's updated
investor presentation please click here:
https://bit.ly/parkitenterprise-20190328.
About PARKIT
Parkit Enterprise Inc. is engaged in the acquisition,
optimization and asset management of income-producing parking
facilities across the United
States and Canada. The
Company's shares are listed on TSX-V (Symbol: PKT) and on the OTCQX
(Symbol: PKTEF).
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements. Forward-looking statements consist of statements that
are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ
materially from those contained in the statements. No assurance can
be given that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them.
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SOURCE Parkit Enterprise Inc.
