GREY:TSCAF - Post by User
Comment by
LAMBOon Apr 02, 2015 12:02pm
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Post# 23591716
RE:News
RE:News - Record full year revenues of $17.6 million, increased from $10.1 million in 2013.
- Cash flow increased to $8.1 million in 2014, up from $3.4 million in 2013.
- Year-end net debt was reduced to $6.8 million from $7.4 million in 2013.
- Net debt to cash flow was reduced to 0.8 times for the year and 0.9 times for the Q4 2014 cash flow annualized.
- Most significantly, Tuscany saw increased support from the capital markets and successfully raised $5.7 million in 4 equity issues over the past 15 months, while two brokerage firms also initiated independent research coverage on the Company.
- The significant decline in commodity prices in late 2014 resulted in the Company taking an impairment charge of $4.1 million and an increased allowance against future tax assets of $1.9 million. Tuscany reported a net loss of $5.1 million for the year ended December 31, 2014.
- Read more at https://www.stockhouse.com/news/press-releases/2015/04/02/tuscany-announces-record-levels-of-production-revenue-and-cash-flow-for-year#HEpHLxB2fxAUQdHT.99