Printer Friendly

EQUITEX REPORTS 1993 FIRST QUARTER FINANCIAL RESULTS; TOTAL ASSETS AND NET ASSETS INCREASE OVER 1992 YEAR END RESULTS

 ENGLEWOOD, Colo., May 18 /PRNewswire/ -- Equitex Inc. (NASDAQ-NMS: EQTX) announced today its unaudited financial results for the quarter ended March 31, 1993. The company reported total assets for the quarter of $15.7 million as compared to $15.4 million at Dec. 31, 1992. Net asset value at March 31, 1993 was $9.7 million compared to $9.6 million at Dec. 31, 1992. Net asset value per share increased to $1.65 on 5,914,468 shares at March 31, 1993 from $1.63 on 5,921,168 shares at Dec. 31, 1992. As a comparison, for the quarter ended March 31, 1992, total assets were $16.4 million and net asset value was $10.8 million or $1.83 per share. All per share figures for 1992 have been restated as a result of a 1 for 25 reverse split which took effect on Aug. 3, 1992.
 Net increase in net assets resulting from operations increased $102,920 for the quarter ended March 31, 1993 as compared to an increase of $4.2 million for the comparable 1992 period. For the first quarter 1993, net investment loss was $333,910 with net realized gain on investments before income taxes and extraordinary item of $399,387 producing net investment loss and net realized gain on investments of $52,258 after taxes. For the like 1992 period, the 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 after taxes and recovery of taxes utilizing tax loss carryforwards.
 Equitex is a business development company under the Investment Company Act of 1940, as amended.
 -0- 5/18/93
 /CONTACT: Thomas B. Olson of Equitex, 303-796-8940/
 (EQTX)


CO: Equitex Inc. ST: Colorado IN: SU: ERN

MC -- DV007 -- 9801 05/18/93 12:52 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 18, 1993
Words:317
Previous Article:MARSH & McLENNAN COMPANIES, INC. DECLARES QUARTERLY DIVIDEND
Next Article:EXXON EDUCATION FOUNDATION GIVES $12.1 MILLION TO HIGHER EDUCATION
Topics:


Related Articles
EQUITEX REPORTS 1992 FIRST QUARTER RESULTS, TOTAL ASSETS INCREASE 54 PERCENT, NET ASSETS INCREASE 64 PERCENT OVER 1991 YEAR END RESULTS
EQUITEX REPORTS SECOND QUARTER FINANCIAL RESULTS
EQUITEX REPORTS 1992 YEAR END FINANCIAL RESULTS; TOTAL ASSETS INCREASE 45 PERCENT AND NET ASSETS INCREASE 46 PERCENT OVER 1991
EQUITEX REPORTS MID-YEAR FINANCIAL RESULTS; TOTAL ASSETS INCREASE AND NET ASSETS PER SHARE REACH $2.16
EQUITEX REPORTS NINE MONTH FINANCIAL RESULTS; TOTAL ASSETS INCREASE 48 PERCENT AND NET ASSETS INCREASE 56 PERCENT
EQUITEX REPORTS 1993 YEAR END FINANCIAL RESULTS; TOTAL ASSETS HIGHEST IN COMPANY HISTORY; NET ASSETS INCREASE 68%
EQUITEX REPORTS 1994 FIRST QUARTER FINANCIAL RESULTS
EQUITEX REPORTS MID-YEAR FINANCIAL RESULTS
Equitex Reports Third Quarter Financial Results Assets Decrease Due to Investee Company Bankruptcy
Equitex Reports 1998 First Quarter Financial Results

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters