Portland JSX Limited (PJX) Records Net Loss of $1.59 million for Financial Year, $1.34 million for last quarter Portland JSX Limited

Financial Year Ended February 28, 2017:
(All figures in US Dollars unless otherwise stated.)
There was a net loss on financial assets classified as at fair value through profit or loss for the 2016/2017 financial year end of $437,923. For the quarter, the net loss amounted to $1,183,870.

Distributions of partnership interest income amounted to $350,399 at the end of the 2016/2017 financial year relative to nil the prior year. Interest Income increased by 214% from $79,918 to $250,702 and the Company also recorded a 94% decline in Other Income from $411 to $7,425.

Operating Expenses increased significantly year on year, to $1.49 million (2015/2016: $657,588), an increase of 127% while Interest Expense for the period has increased by 55% to $260,068 relative to $167,362 the prior year.

Consequently, once all items are considered, Loss for the Period being Total Comprehensive Loss increased by $1.26 million or 385% to $1.59 million. For the quarter, Loss amounted to $1.34 million.

Loss per share for the period in review totaled $0.00513 (J$ 0.65) relative to a loss per share of $0.00106 (J$ 0.13) the prior financial year. For the quarter, Loss per share amounted to $0.00434 (J$ 0.55). The number of shares used in our calculations is 309,968,261 units.