Portland JSX Limited (PJX), for the nine months ended November 30, 2020, net loss on financial assets classified as at fair value through profit and loss amounted to US$1.15 million compared to a gain of US$1.94 million in 2019. PJX recorded net gain on financial assets classified as at fair value through profit and loss for the third quarter of US$355,968 relative to a net gain of US$547,939 booked for the corresponding period in 2019.

Interest from loans and receivables for the nine months amounted to US$3,654, a decrease of 55% year over (2019: US$8,145). For the quarter, there was a 61% decline to US$1,225 relative to US$3,112 in the prior year’s comparable quarter.

Distribution of partnership interest income for the nine months and third quarter ended November 30, 2020 amounted to US$128,901.

Operating expenses amounted to US$451,923 for the nine months, a 30% decrease year over year (2019: US$648,559). For the quarter, there was a 7% increase from US$144,217 in 2019 to US$154,478 in 2020.

Foreign exchange gain for the nine months totaled US$215,544 compared to a loss of US$10,358 while interest expenses of US$261,320 was recorded for the nine months ended November 2020 (2019: US$106,725).

There were no taxes incurred, as such PJX recorded a net loss for the nine months period of US$1.52 million compared to a gain of US$1.19 million booked in the corresponding period in 2019. For the quarter, net profit amounted to US$189,356 versus a net profit of US$295,756 for the similar period of 2019.

Loss per share (LPS) for the period amounted to US$0.0049 (J$0.72) compared to the loss per share of US$0.0038 (J$0.52) reported in 2019. PJX’S twelve months trailing LPS is US$0.001. The number of shares used in this calculation was 309,968,261. PJX’s stock price closed the trading period on January 14, 2021 at J$9.15.

Balance Sheet Highlights:

As at November 30, 2020, PJX recorded total assets of US$28.02 million compared to US$29.15 million reported for the corresponding period in 2019. This growth resulted from a 2% decrease in ‘Financial investment, at fair value through profit or loss’ to total US$27.79 million (2019: US$28.49 million). Notably, ‘Securities purchased under resale agreements’ fell by 61% to close at US$187,894 relative to US$486,011 recorded in 2019. Also, ‘Cash and short-term deposits’ declined 99%to US$1,711 (2019: US$136,782) and ‘Receivables’ rose 6% to $37,486 (2019: US$35,459).

Total Stockholders’ equity as at November 30, 2020 closed at US$24.17 million compared to the US$25.53 million reported in 2019. This resulted in a book value per share of US$0.09 (J$11.44) compared to US$0.09 (J$11.19).

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