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EQUITEX REPORTS 1991 YEAR END FINANCIAL RESULTS; TOTAL ASSETS INCREASE 65 PERCENT AND NET ASSETS INCREASE 78 PERCENT OVER 1990

 EQUITEX REPORTS 1991 YEAR END FINANCIAL RESULTS; TOTAL ASSETS
 INCREASE 65 PERCENT AND NET ASSETS INCREASE 78 PERCENT OVER 1990
 ENGLEWOOD, Colo., April 15 /PRNewswire/ -- Equitex Inc. (NASDAQ/NMS: EQTX) announced today its audited financial results for the year ended Dec. 31, 1991.
 The company reported total assets for the year ended Dec. 31, 1991 of $10,612,006 as compared to $6,412,584 at Dec. 31, 1990, an increase of over 65 percent. Net asset value at Dec. 31, 1991 was $6,596,135 compared to $3,697,138 at Dec. 31, 1990 an increase of over 78 percent. Net asset value per share increased to $.045 at Dec. 31, 1991 from $.025 at Dec. 31, 1990.
 Net increase in net assets resulting from operations increased $2,829,272 for 1991 as compared to a decrease of $7,109,649 for 1990.
 The company credited the record year for its largest investee, Roadmaster Industries Inc., as well as the addition to its portfolio of MacGregor Sports and Fitness Inc. for the increased 1991 results. Equitex owns approximately 20 percent in common stock and warrants in Roadmaster Industries and 20 percent in common stock in MacGregor Sports and Fitness.
 Equitex is a business development company under the Investment Company Act of 1940, as amended.
 -0- 4/15/92
 /CONTACT: Thomas B. Olson of Equitex, 303-796-8940/
 (EQTX) CO: Equitex Inc. ST: Colorado IN: SU: ERN


BB -- DV003 -- 8533 04/15/92 09:31 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:244
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