Pinetree earns $1.12-million, 12 cents per share in Q1 Three months ended March 31,
2019 2018
Net investment gains 1,241 366
Other income 32 52
Total expenses 147 84
Net income for the period 1,126 334
Income per share - basic+fully diluted 0.12 0.04
The net investment gains for the three months ended March 31, 2019 was $1,241 (three months ended March 31, 2018 {A –} net investment gains of $366) as a result of a net change in unrealized gains and realized losses on investments as described below.
For the three months ended March 31, 2019, the Company has $12,510 net realized losses on disposal of investments as compared to net realized losses of $3,695 for the three months ended March 31, 2018. The dispositions were primarily from legacy investments with little or no value.
For the three months ended March 31, 2019, the Company had a net change in unrealized gains on investments of $13,751 as compared to $4,061 for the three months ended March 31, 2018. The net change in unrealized gains were from the reversal of previously recognized net unrealized losses on the disposition of investments and the net write-up to market on the Company's investments.
For the three months ended March 31, 2019, other income totalled $32 as compared to other income of $52 for the three months ended March 31, 2018. Other income is comprised of interest and dividend income of $27 and $5, respectively (three months ended March 31, 2018 {A –} interest income of $52).
As at March 31, 2019, the Company held investments at fair value totaling $9,801 as compared to $8,969 as at December 31, 2018, a 9% increase, attributable to purchases in the investment portfolio and net investment gains during the three months ended March 31, 2019.
Shares Outstanding and Net Asset Value amounts are as at the Quarter End date
Operating Expenses amounts are for the Three months ending the Quarter End date
Operating Expenses do not include Foreign Exchange gain (loss) on financial assets other than investments