Selling Assets Like Crazy and Still Report a Loss ..!!!
During the six months ended June 30, 2018, the Corporation sold its remaining shares of Interoil for proceeds of $1.9 million, resulting in an overall realized cash gain of $3.8 million on the Corporation’s original $3.2 million investment.
During the three months ended June 30, 2018, the Corporation sold its investment in a power generation company for proceeds of $12.4 million. The Corporation also received $22.1 million of the total $28.1 million cash proceeds and the $8.3 million outstanding term deposit previously recorded as restricted cash from the sale of its equity interest in the Ecuador IPC. The remaining $6 million of remaining cash proceeds have been classified as a long-term receivable as it will be received in July 2019.
Net Loss - 6 months / .10 share - 3 months ending June 30th - .15 share
Cash and Funds from Operations and Net Income (Loss) and Comprehensive Income (Loss) Three months ended June 30, Six months ended June 30, 2018 2017 Change 2018 2017 Change Cash flow provided by operating activities $ 19,826 $ 11,130 78% $ 39,694 $ 28,669 38% Per share – basic $ 0.11 $ 0.06 83% $ 0.22 $ 0.16 38% Per share – diluted $ 0.11 $ 0.06 83% $ 0.22 $ 0.16 38% Adjusted funds from operations (1) $ 28,826 $ 24,236 19% $ 52,363 $ 45,183 16% Per share – basic $ 0.16 $ 0.14 14% $ 0.30 $ 0.26 15% Per share – diluted $ 0.16 $ 0.14 14% $ 0.29 $ 0.26 12% Net income (loss) and comprehensive income (loss) $ (25,979) $ 11,770 n/a $ (17,701) $ 3,828 n/a Per share – basic $ (0.15) $ 0.07 n/a $ (0.10) $ 0.02 n/a Per share – diluted $ (0.15) $ 0.07 n/a $ (0.10) $ 0.02 n/a
Can't wait for the analysts at the conference call....
JMHO