Kadestone Capital Corp. Reports Q4 and Full Year 2024 Financial Results
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) ha pubblicato i risultati finanziari del quarto trimestre e dell'intero anno 2024. La società ha registrato un aumento significativo della perdita netta, che è arrivata a 4,65 milioni di dollari (0,10 dollari per azione), rispetto a 1,79 milioni di dollari (0,04 dollari per azione) nel 2023.
Le principali attività finanziarie hanno incluso la modifica di un prestito a termine da 10 milioni di dollari a 10,97 milioni e la liquidazione di una nota convertibile del valore di 5,74 milioni di dollari. Le spese operative sono aumentate considerevolmente, con costi principali quali salari (1,63 milioni di dollari), consulenze (1,56 milioni di dollari), interessi passivi (1,36 milioni di dollari) e spese professionali (0,56 milioni di dollari). La società ha parzialmente compensato queste spese con i ricavi da partecipazioni in associate (0,83 milioni di dollari) e investimenti in fondi ipotecari (0,33 milioni di dollari).
Il flusso di cassa netto utilizzato nelle operazioni è più che raddoppiato, raggiungendo 5,01 milioni di dollari nel 2024 rispetto a 2,38 milioni nel 2023, segnalando un aumento della spesa operativa.
Kadestone Capital Corp (TSXV: KDSX, OTCQB: KDCCF) ha publicado sus resultados financieros para el cuarto trimestre y todo el año 2024. La compañía reportó un aumento significativo en la pérdida neta, que alcanzó los 4,65 millones de dólares (0,10 dólares por acción), en comparación con 1,79 millones de dólares (0,04 dólares por acción) en 2023.
Las principales actividades financieras incluyeron la modificación de un préstamo a plazo de 10 millones de dólares a 10,97 millones y la liquidación de un pagaré convertible por 5,74 millones de dólares. Los gastos operativos aumentaron considerablemente, con costos importantes como salarios (1,63 millones de dólares), honorarios de consultoría (1,56 millones de dólares), gastos por intereses (1,36 millones de dólares) y honorarios profesionales (0,56 millones de dólares). La compañía compensó parcialmente estos gastos con ingresos por asociadas (0,83 millones de dólares) y inversiones en fondos hipotecarios (0,33 millones de dólares).
El flujo neto de efectivo utilizado en operaciones más que se duplicó, llegando a 5,01 millones de dólares en 2024 desde 2,38 millones en 2023, lo que indica un aumento en el gasto operativo.
Kadestone Capital Corp (TSXV: KDSX, OTCQB: KDCCF)는 2024년 4분기 및 연간 재무 결과를 발표했습니다. 회사는 2023년 179만 달러(주당 0.04달러) 대비 465만 달러(주당 0.10달러)로 순손실이 크게 증가했다고 보고했습니다.
주요 재무 활동으로는 1,000만 달러의 기한부 대출을 1,097만 달러로 수정하고, 574만 달러 상당의 전환사채를 상환한 것이 포함됩니다. 운영비용은 급여(163만 달러), 컨설팅 수수료(156만 달러), 이자 비용(136만 달러), 전문 수수료(56만 달러) 등 주요 비용 증가로 크게 늘어났습니다. 회사는 관계사 수익(83만 달러)과 모기지 펀드 투자 수익(33만 달러)으로 일부 비용을 상쇄했습니다.
영업활동에 사용된 순현금은 2023년 238만 달러에서 2024년 501만 달러로 두 배 이상 증가해 운영 지출이 늘었음을 나타냅니다.
Kadestone Capital Corp (TSXV : KDSX, OTCQB : KDCCF) a publié ses résultats financiers du quatrième trimestre et de l’année complète 2024. La société a enregistré une augmentation significative de la perte nette, atteignant 4,65 millions de dollars (0,10 dollar par action), contre 1,79 million de dollars (0,04 dollar par action) en 2023.
Les principales opérations financières comprenaient la modification d’un prêt à terme de 10 millions de dollars à 10,97 millions, ainsi que le règlement d’une obligation convertible d’une valeur de 5,74 millions de dollars. Les charges d’exploitation ont fortement augmenté, avec des coûts majeurs tels que les salaires (1,63 million de dollars), les frais de conseil (1,56 million de dollars), les charges d’intérêts (1,36 million de dollars) et les honoraires professionnels (0,56 million de dollars). La société a partiellement compensé ces charges par des revenus provenant de participations (0,83 million de dollars) et d’investissements dans des fonds hypothécaires (0,33 million de dollars).
La trésorerie nette utilisée dans les opérations a plus que doublé, atteignant 5,01 millions de dollars en 2024 contre 2,38 millions en 2023, indiquant une hausse des dépenses opérationnelles.
Kadestone Capital Corp (TSXV: KDSX, OTCQB: KDCCF) hat seine Finanzergebnisse für das vierte Quartal und das Gesamtjahr 2024 veröffentlicht. Das Unternehmen meldete einen deutlichen Anstieg des Nettoverlusts auf 4,65 Millionen US-Dollar (0,10 US-Dollar pro Aktie), verglichen mit 1,79 Millionen US-Dollar (0,04 US-Dollar pro Aktie) im Jahr 2023.
Zu den wichtigsten finanziellen Aktivitäten gehörte die Anpassung eines Terminkredits von 10 Millionen US-Dollar auf 10,97 Millionen US-Dollar sowie die Begleichung einer Wandelanleihe im Wert von 5,74 Millionen US-Dollar. Die Betriebskosten stiegen erheblich an, wobei die Hauptkosten Gehälter (1,63 Millionen US-Dollar), Beratungshonorare (1,56 Millionen US-Dollar), Zinsaufwendungen (1,36 Millionen US-Dollar) und professionelle Gebühren (0,56 Millionen US-Dollar) umfassten. Das Unternehmen konnte diese Ausgaben teilweise durch Erträge aus Beteiligungen (0,83 Millionen US-Dollar) und Investitionen in Hypothekenfonds (0,33 Millionen US-Dollar) ausgleichen.
Der Netto-Cashflow aus der Geschäftstätigkeit mehr als verdoppelte sich auf 5,01 Millionen US-Dollar im Jahr 2024 gegenüber 2,38 Millionen im Jahr 2023, was auf gestiegene operative Ausgaben hinweist.
- Full settlement of convertible debt ($5.74M) including principal and interest
- Income generation from associates ($0.83M) and mortgage fund investments ($0.33M)
- Net loss increased significantly to $4.65M from $1.79M year-over-year
- Operating cash burn doubled to $5.01M from $2.38M
- Substantial increase in operating expenses across multiple categories
- Higher debt burden with term loan increase to $10.97M
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Kadestone Capital Corp. (TSXV: KDSX) (OTCQB: KDCCF) ("Kadestone" or the "Company"), a vertically integrated property company today announced its financial results for the year ended December 31, 2024.
Highlights for the year:
- Amendment and restatement of existing
$10,000,000 t erm loan by way of a new$10,973,540 t erm loan - Settlement of the convertible note in the aggregate amount of
$5,739,301 , representing full repayment of both principal and accrued interest on the outstanding convertible debt.
Financial Results
For the year ended December 31, 2024, the Company reported a net loss of
Net cash used in operating activities also increased, rising to
The above audited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with IFRS Accounting Standards, using the accounting policies and methods of application as described in notes 2 and 3 of the Company's audited consolidated financial statements for the years ended December 31, 2024, and 2023.
About Kadestone
Kadestone was established to pursue the investment in, acquisition, development and management of residential and commercial income producing properties, and procurement and sale of building materials within major urban centres and high-growth, emerging markets in Canada. The Company operates five complimentary business lines spanning building materials procurement and supply, property development and construction, construction finance, asset ownership and property management. These synergistic business lines have solidified Kadestone's vision to become a market leading vertically integrated property company. Additional information can be found at www.kadestone.com.
For further information please contact David Negus, CFO, Kadestone Capital Corp., dnegus@kadestone.com, 604 671-8142
ON BEHALF OF THE BOARD
(signed) "Brent Billey"
President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward- Looking Statements
Certain information in this press release, including, but not limited to, the Company's ability to identify opportunities and secure additional investments in 2025 and the Company's vision to become a leading vertically integrated property company, may constitute forward looking information (collectively, "forward-looking statements"), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Because of various risks and uncertainties, including those referenced below, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. As a result, you should not rely on such forward-looking statements. Additional information identifying assumptions, risks and uncertainties relating to Kadestone is contained in Kadestone's filings with the Canadian securities regulators available at www.sedarplus.ca. These risks include those described in the "Risk Factors" section of the Company's final prospectus dated September 2, 2020, and in the Management's Discussion and Analysis for the years ended December 31, 2024 and 2023. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249439
FAQ
What caused Kadestone Capital (KDCCF) net loss to increase in 2024?
How much did KDCCF's cash burn increase in 2024?
What was Kadestone Capital's earnings per share (EPS) for 2024?
How did KDCCF handle its debt obligations in 2024?
