Spackman Equities Group Reports Second Quarter 2013 Results
Newly Released Films COLD EYES and SNOWPIERCER are Korean Box Office Hits
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/29/13 -- Spackman Equities Group Inc. ("SEGI" or the "Company") (TSX VENTURE: SQG) today announced its financial results for the second quarter and the six months ended June 30, 2013.
For the second quarter ended June 30, 2013 revenue was $2.1 million and the net loss was $392,000 or $0.002 per share. For the six months ended June 30, 2013 revenue was $2.5 million and the net loss was $1.4 million or $0.009 per share.
At June 30, 2013 SEGI had $4.9 million, or $0.03 per share, in cash or cash equivalents and marketable securities. There are 148,829,183 common shares outstanding.
Commenting on the second quarter results, Charles Spackman, the Chairman and Chief Executive Officer of SEGI said, "We are very pleased with the excellent box office performance of Zip Cinema's COLD EYES and Opus Picture's SNOWPIERCER. The production fee income from COLD EYES, if received by Zip Cinema by year-end, should improve the Company's results for the remainder of the year. Production fee income to Opus from SNOWPIERCER, which has not yet been released outside of Korea, is expected be received in the second half of 2014 or later as the production fees will be paid to Opus after the film has played in over 160 countries."
The complete financial statements for the three and six months ended June 30, 2013, including Management's Discussion and Analysis of the results, are posted on SEGI's website, and are also available on SEDAR at .
Highlights of the Second Quarter and Subsequent Events
About Spackman Equities Group Inc.
Spackman Equities Group Inc. ("SEGI") is an investment holding company that invests into and develops small/medium-sized growth companies that possess proprietary technologies or industry-specific know-how, primarily in Asia. SEGI also makes investments in selected publicly-traded companies that SEGI believes are attractive investment propositions. The objectives of SEGI are to (i) invest into or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified and balanced portfolio of investments, and (iii) deliver the collective value derived from the performance of its portfolio of investments to the shareholders of SEGI. Currently, SEGI's holdings include:
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Contacts:
Spackman Equities Group Inc.
Floria Lin
Investor Relations
+852 3902 3287
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Datum: 29.08.2013 - 07:05 Uhr
Sprache: Deutsch
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