Toronto, Ontario (FSCwire) - Exclamation Investments Corporation (TSXV:XI) (“exclamation”), a business creator conceiving and developing paradigm-shifting businesses in the dual role of founder and seed investor, today announced its financial results for the fiscal year and fourth quarter-ended December 31, 2014.
“2014 has been an extremely challenging year for exclamation as we were unable to secure the funding necessary to execute our business plans” commented Marc Lavine, Chief Executive Officer. “I am now focused on restructuring of the exclamation business model to be more attractive to investors.”
The corporation was not able to raise the necessary capital to fund operations and continue to finance portfolio companies, specifically One Inc. This lack of funding led to the resignation of key employees and a significant slowdown of the corporation’s activities and new investments. The resulting financial impact was an impairment to the investment portfolio in the amount of $1,890,208.
The corporation is evaluating various options to refocus its operations and obtain the capital necessary to move forward and create shareholder value.
Financial Summary
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|
as at
December 31, 2014
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as at
December 31, 2013
|
|
|
|
|
|
Total current assets
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248,231
|
408,791
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|
Total current liabilities
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914,324
|
505,913
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|
Total corporate investments
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888,321
|
2,901,977
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|
Total debt
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100,000
|
100,000
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|
Total shareholders’ equity
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122,236
|
2,704,855
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|
($)
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Total
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|
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2014
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2013
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|
Revenues
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|
|
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Net gain on investments
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4,965
|
47,188
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|
Interest income
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90,181
|
87,911
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|
Dividend income
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-
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100,000
|
|
|
|
|
|
Total revenues
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95,146
|
235,099
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|
Expenses
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704,606
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512,529
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Impairment of Corporate investments
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1,890,208
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-
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| |
|
|
|
Net income (loss)
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(2,512,686)
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(284,275)
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Net income (loss) per share (basic and Fully Diluted)
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($0.08)
|
($0.01)
|
Detailed financial statements and management’s discussion and analysis for the year ending December 31, 2015 are available on www.sedar.com.
ABOUT EXCLAMATION INVESTMENTS CORPORATION
exclamation Investments is a business creator that conceives and develops paradigm-shifting businesses in its roles of seed investor, founder and active partner. Leveraging its trans-Atlantic network to develop new business concepts, and its process for transforming ideas and capital into profits, exclamation shareholders participate from the founder stage as they ‘get in’ at a low cost before significant value is established, and are positioned to ‘exit’ and realize gains when value is maximized, offering potential returns significantly higher than traditional venture capital and private equity.
Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators available at www.sedar.com.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Exclamation Investments Corporation
Marc Lavine, Chief Executive Officer
t : 1 (888) 838-1666
e: info@exclamation.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ExclamationApr302015.pdfSource: Exclamation Investments Corporation (TSX Venture:XI) http://www.exclamation.com/
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