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EQUITEX REPORTS 1992 FIRST QUARTER RESULTS, TOTAL ASSETS INCREASE 54 PERCENT, NET ASSETS INCREASE 64 PERCENT OVER 1991 YEAR END RESULTS

EQUITEX REPORTS 1992 FIRST QUARTER RESULTS, TOTAL ASSETS INCREASE 54 PERCENT, NET ASSETS INCREASE 64 PERCENT OVER 1991 YEAR END RESULTS
 ENGLEWOOD, Colo., May 19 /PRNewswire/ -- Equitex Inc. (NASDAQ/NMS: EQTX) announced today its unaudited financial results for the quarter ended March 31, 1992. The company reported total assets for the quarter of $16.4 million as compared to $10.6 million at Dec. 31, 1991, an increase of 54 percent. Net asset value at March 31, 1992 was $10.8 million compared to $6.6 million at Dec. 31, 1991 an increase of over 64 percent. Net asset value per share increased to $.073 at March 31, 1992 from $.045 at Dec. 31, 1991. As a comparison, for the quarter ended March 31, 1991, total assets were $9.1 million and net asset value was $7.0 million or $.047 per share.
 Net increase in net assets resulting from operations increased $4.2 million for the quarter ended March 31, 1992 as compared to an increase of $3.3 million for the comparable 1991 period. For the first quarter 1992, net investment loss was $329,715 with net realized gain on investments before income taxes and extraordinary item of $1,300,257 producing net investment loss and net realized gain on investments of $970,542. For the like 1991 period, the net investment loss was $219,115 with net realized gain on investments before income taxes and extraordinary item of $115,951 producing net investment loss and net realized gain on investments of $103,164.
 "We are very pleased to see a continuation of the increases in assets and net assets from December 31, 1991 to March 31, 1992," said Equitex president, Henry Fong. "With the record first quarter earnings at our largest investee, Roadmaster Industries, and the corresponding increase in the market value of the Roadmaster stock, we were able to achieve our objective of further enhancement of shareholder value during the first quarter. Additionally, we further strengthened our financial position with income from all sources of nearly $1 million during this period."
 Equitex is a business development company under the Investment Company Act of 1940, as amended.
 -0- 5/19/92
 /CONTACT: Thomas B. Olson of Equitex, 303-796-8940/
 (EQTX) CO: Equitex Inc. ST: Colorado IN: SU: ERN


MC -- DV007 -- 1676 05/19/92 09:15 EDT
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Publication:PR Newswire
Date:May 19, 1992
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