 |
| |
| | Mon Dec 1, 2003
Firestone Announces Results for Second Fiscal Quarter
|
| | VANCOUVER, December 1/CNW - Firestone Ventures Inc. (FV:TSX-VEN) is pleased to announce its financial results for the fiscal quarter ended September 30, 2003.
Firestone incurred a net loss of $34,524 for the three-month period ended September 30, 2003 as compared to a loss of $21,603 for the comparative period in 2002. The increase in net loss from the comparative period is primarily a result of an increase in consulting fees, travel and shareholder relations costs relating to an increase in corporate activity. During the period, Firestone spent or accrued a total of $12,010 on travel and shareholder relations, $10,651 on management and consulting fees, $4,883 on office and telephone charges, $3,318 on transfer agent and filing fees and $3,000 on professional fees.
The Company's mineral property assets consist of interests in the Four Corners property and the Finlayson Project, both located in the Yukon Territory. As these properties are in the exploration stage, Firestone reported no operating income or cash flow for the quarter.
During the quarter the Company was active in exploration for emeralds at the Four Corners property and the Finlayson Project. Firestone expended or accrued $111,142 on exploring these properties during the quarter. Results of the 2003 Summer exploration season were announced in previous news releases.
As at September 30, 2003, Firestone held assets of $496,217 including cash of $4,246 and mineral properties recorded at $475,027. Liabilities totaled $134,603.
No investor relations activities were undertaken by or on behalf of the Company during the quarter and no securities issuances occurred during the quarter.
Interested parties are requested to review the Company's Quarterly Report as filed on SEDAR simultaneously with this release.
On behalf of the Board
"Dr. Ken Powell"
Chairman and President
For further information please contact Jim Porter, Chief Financial Officer and Director at (604) 681-6638 or jporter@firestoneventures.com. Also see http://www.firestoneventures.com
THE TSX VENTURE EXCHANGE HAS IN NO WAY PASSED UPON THE MERITS OF THE CONTENTS AND HAS NEITHER APPROVED NOR DISAPPROVED OF THE CONTENT OF THIS RELEASE. THE COMPANY RELIES ON LITIGATION PROTECTION FOR FORWARD-LOOKING STATEMENTS. |
| |
| | You can view the Next News Releases item: Mon Dec 8, 2003, Stock Option Grant
You can view the Previous News Releases item: Thu Nov 27, 2003, 1,500,000 Unit Private Placement at $0.15/Unit
You can return to the main News Releases page, or press the Back button on your browser.
|
| | |
