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Kadestone Capital Corp. (KDCCF) delivers vertically integrated property solutions across Canada's residential and commercial real estate markets. This news hub provides investors and industry professionals with timely updates on the company's strategic initiatives and operational milestones.
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Kadestone Capital Corp (TSXV: KDSX, OTCQB: KDCCF) has released its financial results for Q4 and full year 2024. The company reported a significant increase in net loss to $4.65 million ($0.10 per share), compared to $1.79 million ($0.04 per share) in 2023.
Key financial activities included amending a $10 million term loan to $10.97 million and settling a convertible note worth $5.74 million. Operating expenses increased substantially, with major costs including salaries ($1.63 million), consulting fees ($1.56 million), interest expense ($1.36 million), and professional fees ($0.56 million). The company partially offset these expenses with income from associates ($0.83 million) and mortgage fund investments ($0.33 million).
Net cash used in operations more than doubled to $5.01 million in 2024 from $2.38 million in 2023, indicating increased operational spending.
Kadestone Capital Corp (TSXV: KDSX, OTCQB: KDCCF) reported its Q3 2024 financial results, showing a net loss of $2,761,871 ($0.06 per share) for the nine months ended September 30, 2024, compared to a loss of $2,319,692 ($0.05 per share) in the same period last year. The loss was attributed to operational expenses, including consulting fees ($1,110,683), salaries ($551,012), professional fees ($478,574), share-based compensation ($243,810), and interest expense ($1,090,082). These were partially offset by income from associates ($938,728) and mortgage fund investments ($172,461). Net cash used in operations increased to $2,606,385 from $1,943,623 year-over-year.
Kadestone Capital Corp. (TSXV: KDSX) (OTCB: KDCCF) has reported its financial results for Q2 2024. The company recorded a net loss of $1,703,048 or $0.04 per share for the six months ended June 30, 2024, compared to a net loss of $1,646,416 or $0.04 per share for the same period last year. The loss was primarily attributed to operational expenses, including consulting fees of $661,183, professional fees of $377,039, and salaries of $368,809. These were partially offset by income from associates of $909,605. Net cash used in operating activities increased to $1,767,546 compared to $1,726,485 for the same period in 2023.
Kadestone Capital Corp. (TSXV: KDSX) (OTCQB: KDCCF), a vertically integrated property company, has appointed Kevin Hoffman as Chief Development Officer, effective November 1, 2024. Mr. Hoffman, currently CEO of Vanprop Investments, brings extensive experience from roles at Aquilini Development and Construction, Concord Pacific, and Bluestone Construction
In his new role, Hoffman will be responsible for pursuing, obtaining, and executing development projects for Kadestone. CEO Brent Billey expressed confidence in Hoffman's track record in building capabilities, forging strategic partnerships, and advancing projects. Hoffman, based in Vancouver, B.C., stated his excitement about joining Kadestone and helping the company achieve its strategic goals.
Kadestone Capital Corp. (TSXV: KDSX, OTCQB: KDCCF), a vertically integrated property company, has announced the results of its annual general meeting held on July 11, 2024, in Vancouver, BC.
At the meeting, shareholders elected Brent Billey, Anthony Holler, David Negrin, Norm Mayr, and Kent Sillars to the board of directors until the next annual meeting or until their successors are elected or appointed. Additionally, shareholders approved the re-appointment of KPMG LLP as auditors and the company's existing stock option plan.
