Brownstone Ventures Inc.'s Results For Three Months And Six Months Ended December 31, 2005.TORONTO -- Investments increase 211% to $17.0 million from $5.5 million Brownstone brownstone, red to brown variety of sandstone. Its unusual color is caused in some instances by the presence of red iron oxide which acts as a cement, binding the sand grains together. Ventures Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BWN BWN Business Women's Network BWN Bandar Seri Begawan, Brunei Darussalam - Brunei International (Airport Code) BWN Beast Wars Neo (Transformers cartoon) BWN Basement Waterproofing Nationwide, Inc. ), a Canadian investment company, today announced its results for the three and six months ended December 31, 2005: The results are based upon the Fair Value method of accounting for investments. Results for the three months ended December 31, 2005 (compared to December 31, 2004): - Realized gain Realized Gain A gain resulting from selling an asset at a price higher than the original purchase price. Notes: There may be tax consequences for a realized profit. on disposal of investments decreased to $862,959 as compared to $1,193,195 for the three months ended December 31, 2004; - Unrealized gains Unrealized Gain A profit that results from holding on to an asset rather than cashing it in and using the funds. Notes: Let's say you own a stock that has doubled, but you haven't sold it yet. This is said to be an unrealized gain. increased to $5,977,715 as compared to unrealized losses Unrealized Loss A loss that results from holding onto an asset rather than cashing it in and officially taking the loss. Notes: Let's say you own a stock that is down 50%, but you haven't sold it to realize the loss yet. This is said to be an unrealized loss. of $1,301,290 for the three months ended December 31, 2004; - Total expenditures were $701,548 as compared to $233,095 for the three months ended December 31, 2004; - Net income was $4,128,915 ($0.22 per share) as compared to Net loss of $336,494 ($0.02 per share) for the three months ended December 31, 2004. Results for the six months ended December 31, 2005 (compared to December 31, 2004): - Realized gain on disposal of investments decreased to $1,346,765 as compared to $1,669,657 for the six months ended December 31, 2004; - Unrealized gains increased to $10,743,830 as compared to unrealized losses of $1,432,545 for the six months ended December 31, 2004; - Total expenditures were $913,283 as compared to $395,339 for the six months ended December 31, 2004; - Net income was $9,173,737 ($0.56 per share) as compared to Net loss of $153,531 ($0.01 per share) for the six months ended December 31, 2004. As at December 31, 2005: - Completed a private placement for $10 million and issued 10 million Units. Each Unit was comprised of one common share of the Company and one-half common share Purchase Warrant, with each whole common share Purchase Warrant entitling the holder to acquire one common share of the Company at $1.50 on or before December 14, 2007. The Company paid cash commissions of $800,000 and issued 1,000,000 broker's warrants. Each broker's warrants having the same terms as the Units issued in the financing. - Investments (Fair Value) increased 211% to $17.0 million as compared to $5.5 million as at June 30, 2005. - Investments (at Cost) increased 25% to $4.1 million as compared to $3.3 million as at June 30, 2005. - Net Assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. increased to $25.2 million as compared to $6.0 million as at June 30, 2004. Brownstone Ventures Inc. is an investment company, which has investments in uranium, gold, and other mineral resource related companies, including a direct interest in oil and gas explorations and an approximate 7% equity interest in Mega Uranium Ltd. ISSUED AND OUTSTANDING COMMON SHARES: 26,709,205 The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not take responsibility for the adeq uacy or accuracy of this release. Brownstone Ventures Inc. (TSX VENTURE:BWN) |
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