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Thanks for posting The Financial Post article.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: INTERNATIONAL PURSUIT CORPORATION
NASDAQ SYMBOL: IPUCF
TSE SYMBOL: IPJ
AUGUST 27, 1997
International Pursuit Corporation Second Quarter Report
TORONTO, ONTARIO--International Pursuit Corporation (the "Company"
or "Pursuit") reported results for its six month period ended June
30, 1997.
Second Quarter Results
The Company's net loss was $967,747 or 3.8 cents per share for the
six months ended June 30, 1997, versus $272,317 or 1.8 cents per
share for the six months ended June 30, 1996.
Revenue for the six months ended June 30, 1997 for Pursuit was
$608,590 versus $884,938 for the six months ended June 30, 1996.
The Company's revenues were generated through gains on marketable
securities of $446,026, interest income of $89,080 and dividend
income of $73,484.
Expenses for the six months ended June 30, 1997 for Pursuit were
$2,286,394 versus $1,362,255 for the six months ended June 30,
1996. The Company's expenses for the six months ended June 30,
1997 included general and administrative expenses of $1,773,152
and interest expenses of $513,242. The Company's general and
administrative expenses increased from $1,005,561 for the six
months ended June 30, 1996 due to overhead costs associated with
the expansion of the company's asset base to Mongolia.
Recovery of income taxes for the six months ended June 30, 1997
for Pursuit was $710,057 versus $205,000 for the six months ended
June 30, 1996.
ON BEHALF OF THE BOARD
Stephen R. Dattels
President and CEO
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
International Pursuit Corporation
Investor Relations
1-800-396-5188
Rick |
