January 15, 2018
PJX, for the nine months ended August 31, 2017, booked net gain on financial assets classified as at fair value through profit and loss of US$693,335 compared to US$745,947 last year. For the three months, net gain on financial assets classified as fair value through profit amounted to US$668,158 (2016: $311,887).
Interest income amounted to US$165,177, a 23% year over year increase, while the interest income from distribution of partnership closed at $3,695 compared to US$350,399 reported last year. Other income of US$98 was reported for the period while it was NIL for 2016. The company did not record interest expenses for the period under review relative to US$260,068 reported in 2016.
Administrative and general expenses amounted to US$579,697 for the period, a 55% decline year over year (2016: US1,295,444) while for the three months, administrative expenses closed at US$190,262, an increase of 63% (2016: US$1,137,488).
Pretax profit for the period totaled $US282,608 compared to loss of US$246,031 reported last year. For the three months, pretax profit was reported at US$524,384, this compared to loss reported in 2016 of US$699,365.
After taxation of US$306, net profit closed at $282,302 for the period (2016: net loss of US$246,031).
Earnings per share (EPS) amounted to US0.091 cents (J$0.11) for the nine months and US0.169 cents (J$0.21) for the three months. The 12-month trailing loss per share is US0.34 cents. The number of shares used in this calculation was 309,968,261 units. PJX stock price closed the trading period at $10.70 on January 15, 2018.
Balance Sheet Highlights:
As at November 31, 2017, PJX recorded total assets of US$24.1 million compared to US$25.2 million reported in 2016. The major changes in assets included the decline in Cash and short-term deposits of US$14.65 million in during the nine-month period to total US$2.88 million.
Total Stockholders’ equity as at November 30, 2017, closed at US$24.05 million a 4.23% decline to the US$25.23 million reported in 2016. This resulted in a book value of US$0.08 (J$9.78) per share.
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