Trading on the Trinidad & Tobago Stock Exchange ended on Monday with trading in 15 securities against 14 on Friday, with 3 advancing, 6 declining and 6 remaining unchanged.
The market ended with units 752,392 shares valued at $6,349,130 changing hands, compared to 407,729 units valued at $7,221,428 trading on Friday.
At close of the market the, Composite Index the Composite Index fell 6.68 points on Monday to 1,231.91, the All T&T Index fell 0.58 points to 1,714.65, while the Cross Listed Index fell 0.63 points to close at 102.49. IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with 6 stocks ending with higher bids than the last selling prices and 5 with lower offers.
Gains| Clico Investments rose 10 cents and settled at $20.20, with 26,073 units, Republic Financial Holdings closed with a gain of 2 cents and completed trading at $101.71, with 19,096 stock units changing hands and Sagicor Financial gained 5 cents to settle at $7.80, with 226,240 units trading.
Losses|First Caribbean International Bank closed with a loss of 1 cent and concluded trading at $8.89, after exchanging 38,288 shares, Grace Kennedy closed with a loss of 5 cents and settled at $3.10, with 329,493 units, Guardian Holdings shed 5 cents and concluded market activity at $15.25, after exchanging 1,250 shares, NCB Financial Group lost 25 cents and ended at $5.25, exchanging 105,440 shares, Trinidad & Tobago NGL ended trading 5 cents lower and settled at $29, with 1,000 units and West Indian Tobacco concluded trading with a loss of 1 cent at $88.50, with 606 stock units changing hands.
Firm Traded| Angostura Holdings completed trading at $15.75, with 1,300 stock units changing hands, Ansa Merchant concluded the day’s activity at $40, after exchanging 200 shares, First Citizens ended at $35, after exchanging 1,381 shares, JMMB Group completed trading at $1.75, with 275 stock units changing hands, Prestige Holdings concluded trading at $10.15, after with 1,500 shares and Unilever Caribbean ended at $34, after exchanging 250 shares.
Prices of securities trading for the day are those at which the last trade took place.
TTSE close down again – Monday
Trading up sharply on Junior Market
Trading on the Junior Market of the Jamaica Stock Exchange climbed sharply on top of the pick up on Friday and ended with 23 securities changing hands compared to 30 but with much higher volume.
At the close of the market 9,045,733 units valued at $53,607,772 traded, compared to 2,909,045 units valued at $13,268,308 changing hands on Friday.
At the close of market activities, the prices of 8 securities advanced, 9 declined and 6 remained unchanged leading the Junior Market Index in slipping 8.28 points to close at 2,915.79.
Market activity ended with Stationery and Office jumping to new high of $7.50 following the release of strong gains in first quarter profit, with earnings per share rising 70 percent to 17 cents.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with bids higher than their last selling prices and 4 with lower offers.
Market activity ended with an average of 393,293 units for an average of $2,330,773 in contrast to 96,968 units for an average of $442,277 on Friday. The average volume and value for the month to date amounts to 119,914 units with an average value of $554,562 and previously 90,532 units with an average value of $363,661. April closed with an average of 121,622 units at $506,803, for each security traded.
At the close of the market, Access Financial jumped $2.80 to $50, with 2,100 shares, AMG Packaging ended at $2, with 140,356 stock units, CAC 2000 gained 50 cents to end at $8.50, with 7,000 shares, Caribbean Cream ended trading at $4.80, with 92,602 shares, Caribbean Producers finished trading with a loss of 5 cents at $5.55, in exchanging 6,404,986 units. Dolphin Cove finished 5 cents higher at $14.50, with 6,150 stock units, Elite Diagnostic settled with a loss of 6 cents at $3.20, trading 56,513 units, Express Catering traded 1 cent higher at $5.65, with 43,200 shares, FosRich Group finished with a loss of 10 cents at $2.30, trading 9,678 shares. General Accident closed 12 cents higher at $3.50, with 50,500 stock units changing hands,
GWest Corporation ended 14 cents higher at $2.30, with 20,000 units, Honey Bun concluded trading 19 cents higher at $4.80, with 2,000 shares, Iron Rock finished with a loss of 5 cents at $2.95, with 755 shares. Jamaican Teas ended trading at $4.50, with 11,031 stock units, Jetcon Corporation traded 8 cents higher at $4.18, with 21,533 units, Key Insurance finished trading at $4, with 3,000 shares, Knutsford Express ended with a loss of 1 cent at $12, exchanging 926,882 shares. Lasco Distributors concluded trading with a loss of 16 cents at $4, after 847,063 stock units changed ownership, Lasco Financial finished with a loss of 1 cent at $5.44, with 72,502 units, Lasco Manufacturing settled with a loss of 5 cents at $3.90, with 15,400 shares, Main Event ended trading with a loss of 21 cents at $6.79, with 34,859 shares, Paramount Trading finished trading at $3.10, with 57,500 stock units and Stationery and Office closed at $7.50, with 220,123 units changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Palace Q3 profit jumps 244%
Black Panther mash up Palace bottom-line with a huge increase in profit
Profit at Palace Amusement jumped 244 percent in the March quarter, to a record $45 million from just $13 million in 2017. For the nine months to December, profit surged 746 percent to $49 million from $6 million in 2017.
Thanks to the high level of success of the Black Panther movie sale revenues rose a strong 39 percent for the quarter, to $343 million from $247 million and by 21 percent for the year to date, to $836 million from $692 million in 2017.
Gross profit rose 73 percent to $90 million and profit margin increased to 26 percent in the quarter from the 2017 out turn of 21 percent. For the nine months period to March gross profit rose a respectable 45 percent to $189 million and profit margin moved 23 percent from 19 percent in the 2017.
Administrative expenses rose 10 percent to $45 million in the quarter and by 7 percent in the nine months to $139 million.
Earnings per share came out at $31.53 for the quarter and $34.38 for the nine months and should end the fiscal year ending around $150 level, with the continued success of Black Panther and now The Avengers.
Carib Cinema, the flagship for Palace Amusement, the company’s stock climbed $200 on Monday.
Gross cash flow brought in $79 million but there was the payment of loans and dividends amounting to $9 million. At the end of March, shareholders’ equity stood at $406 million with borrowings at just $24 million. Net current assets ended the period at $180 million inclusive of trade and other receivables of $62 million, cash and equivalent of $203 million and current liabilities stood at 139 million.
The stock traded at a record $1,500 on the main market of the Jamaica Stock Exchange with a PE ratio of 10 times, estimated 2018 earnings.
Sagicor Group & Wisynco back in TOP 10
Salada Foods reported earnings of 78 cents for the half year and is now no 2 on the TOP 10.
Sagicor Group fell out of TOP 10 of main market stocks in the previous week, is back, with the price falling from $42 to $38 and Salada Foods surges to the number 2 spot with half year results.
Wisynco joins the TOP 10 after a very long absence as the price dipped to $10 on Friday. The two new listings replaced Grace Kennedy and PanJam Investment, with the latter jumping to a new 52 weeks’ high of $46.01. In the Junior Market there was only one change with Stationery and Office Supplies (SOS) climbing to a new record high of $7.50 after positing good first quarter results with earnings per share up 70 percent to 17 cents. Lasco Financial moved back into the TOP 10, replacing SOS that still have much more room to grow this year as profits should hit close to $1 per share for the year and investors could well see a stock split as a result of the rising profit and stock price.
Other changes of note, were the fall in price of Berger Paints to $20 from $22 at the end of the previous week, Caribbean Cement moved to $40.05 from $38.60 and Barita Investments rose to $11.50 from $10.49 as selling by investors dried up. 
Second quarter results may not be good enough to push the stock much higher but when the growth in other comprehensive income is factored in, the stocks is still extremely cheap.
On Thursday, a number of company results were released with some having the potential to help prices to move forward. On Friday, more results were released with Salada Foods and tTech posting good gains in profit. Salada earnings suggest full year results of $1.80 per share and pushed the stock to the number 2 choice in the TOP 10. Others will come on Monday and Tuesday, investors should be alert to news that they may provide that could impact prices in the short term.
The main market pulled back from record highs reached at the close of the previous week but is now sitting just below that level on Friday, as that market continues to grind its way slowly upwards ahead of the big breakout that is coming.
At the close of Friday, the average PE ratio for Junior Market Top stocks ended at 6.2 compared to an average PE for the overall main market of 10 based on 2018 estimated earnings. The main market PE is 7.2 for the top stocks, compared to a market average of 13.
IC Insider.com’s TOP 10 stocks now trade at an average discount of 38 percent to the average for the Junior Market Top stocks but it’s a third of what the average PE for the year is likely to be of 20 times earnings and main market stocks traded at a discount of 44 percent to the market.
Stocks to Watch this week include, Stationery and Office Supplies that should go higher based on the first quarter results that were released on Thursday. It should be interesting to see how investors treat with the lack of supply of 
Barita and Berger shares while Palace that jumped $300 on Friday could be pushed when the company’s third quarter results are released this coming week that should see very positive impact of the Black Panther movies now still being shown, although less frequently than previously, with Avengers seems to have taken over from it. NCB Financial pulled back to $95 during the past week and should be another interesting stock to watch as it is undervalued. Grace Kennedy posted decent first quarter results that should encourage more buying of the stock and PanJam Investment is very scarce. Increasing interest in Radio Jamaica pushed the price to $1.20 and is another that could move higher during the week.
Profit up 19% at Grace for Q1
Group Chief Executive Officer, Don Wehby.
Grace Kennedy recorded a 5.1 percent increase in revenues to $24.9 billion and a 14.9 percent gain in net profit of $1.3 billion, for the first quarter of 2018.
Profit after minority interest, rose by a stronger 18.5 percent to $1.19 billion, resulting in earnings per share of $1.20. While revenues grew just over 5 percent, expenses climbed by a larger 6.2 percent, resulting in a fall in operating profit, to $712 million from $919 million in 2017. An increase of $277 million in other income and a cut in profit tax by $73 million were factors helping to boost the profit for the period.
Segment results show, improved results for food and trading division with operating results of $699 million versus $624 in 2017, gains for banking and Investments while insurance surged from $82 million in 2017 to $205 million in 2018 but Money transfer fell from $747 million to $664 million.
Don Wehby, Group CEO, noted that the company benefitted from performances of key business lines and new acquisitions and the strides being made in both our Foods and Financial Services segments. ”Our newest acquisitions, Consumer Brands and Gray’s Pepper Products, are a very good fit and are integrating well within the Group,” Wehby said.
The Group adopted the new International Financial Reporting Standards (IFRS) which became effective in January, this year.
Some of Grace Kennedy’s products.
“IFRS 9 addresses the recognition, classification and measurement of financial instruments while IFRS 15 addresses the recognition of revenue from contracts with customers. The effect of adopting these standards is a reduction in shareholders’ equity at the start of the year of J$0.9 billion, however the impact on the results for the first quarter has not been material,” Frank James said.
The Grace Kennedy Financial Group (GKFG) performed creditably with good growth in revenue driven by the Insurance business while both the Insurance and the Banking and Investments segments grew in pre-tax profits. GK Insurance (Eastern Caribbean) continued its expansion into the Caribbean with operations beginning in Antigua and Barbuda in April.
First Global Bank (FGB) reported growth in pre-tax profit mainly driven by lower cost of funds and lower expenses. The Bank is focusing on expansion through satellite locations branded FG MoneyLink. Four FG MoneyLink branches are in operation in four parishes.
“We consider compliance to be a competitive advantage and we have been working closely with our partner Western Union to ensure our network meets the highest internal and regulatory standards. In the medium-term we will see positive results. We also expect additional growth to come from the new channel WU.com which allows Jamaicans to send funds to 200 countries. Jamaica was the first country in the Latin America and the Caribbean to have this facility,” Wehby said.
Grace said that the Domestic Foods business as well as that of Canada and the USA showed growth, while the UK business had mixed results with decline in sales in the UK market but strong growth buoyed by deepening market penetration in Germany, Spain, Holland and France. New listings in Publix, Save-A-Lot and Stop & Shop stores in the USA and in Walmart in Canada, have helped boost performance in the Food Trading Segment.
Big recovery for JSE main market – Friday
Caribbean Cement jumped $4.45 to close at $40.05
Investors pushed the Jamaica Stock Exchange the market up strongly on Friday and the market recovered a large portion of what was lost since the record high on the previous week.
At the end of market activities, 28 securities traded, compared to 28 on Thursday, in the main and US dollar markets with the price of 10 stocks rising, 8 falling and 10 trading firm. At the close, the All Jamaican Composite Index jumped sharply by 2,341.33 points to 330,728.92 and the JSE Index climbed 2,133.22 points to 301,331.41.
Stocks with major price changes are, Caribbean Cement jumped $4.45 to close at $40.05, JMMB Group jumped $1 to $28, Palace Amusement jumped $300 to $1,300, followed by NCB Financial that dropped $1.25 to $95. PanJam Investment traded at a 52 weeks’ high of $46.01 while Jamaica Broilers and Supreme Ventures traded at intraday highs.
Trading activity resulted in 3,690,667 units valued at $51,637,707 compared to 3,519,415 units valued at $33,476,075 changing hands on Friday.
The major trades for the day are, Wisynco Group with 1,214,450 units and accounting for 32.91 percent of the day’s volume, followed by Victoria Mutual Investments with 723,173 units or 19.59 percent of trades and Ciboney Group with 402,832 units and 10.91 percent of the volume traded.
Trading resulted in an average of 136,691 units valued at an average of $1,912,508 for each security traded. In contrast to 200,047 units for an average of $4,687,155 on Thursday. The average for the month to date is 342,839 shares with a value of $18,119,875 and previously 367,467 shares with a value of $20,307,869. In contrast, April closed with an average of 708,206 shares with a value of $6,395,518 for each security traded.
In the US dollar market, Proven Investments traded 1,000 shares and fell by 3 cents to 20 US cents and the market index ended at down 0.47 points to 164.82 and JMMB Group 5.75% US preference share traded 5,000 units at $2.
IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows 7 stocks ended with bids higher than their last selling prices and none closing with a lower offer.
For more details of market activities see – Big gains for JSE main market – Friday.
Big gains for JSE main market – Friday
Palace jumped $300 back to $1,300 on small volume.
Trading activity was moderate on the main market on Friday, but the market gained much ground to recover a major portion of losses incurred since closing at record high on the previous Friday.
The main market closed with 3,690,667 units valued at $51,637,707 trading from 27 securities changing hands, resulting in 11 securities rising, 5 falling and 9 trading. There were three new intraday highs, with PanJam Investment closing at a new high of $46.01. Jamaica Broilers and Supreme Ventures traded at intraday highs of $22 and $13.50 respectively before pulling back by the close of trading.
The JSE All Jamaican Composite Index jumped 2,341.33 points to 330,728.92 and the JSE Index climbed 2,133.22 points to 301,331.41.
In market activity, Barita Investments rose by 50 cents and closed at $11.50, with 4,564 shares, changing hands, Berger Paints closed at $20 with 6,431 units trading, Carreras lost 20 cents and ended at $10.40, with 75,013 stock units, Caribbean Cement concluded trading at $40.05, after jumping $4.55 with 100,591 units, changing hands, Ciboney Group finished at 11 cents, with 402,832 shares, Grace Kennedy settled at $49, with 16,778 shares. Jamaica Broilers ended trading at $20.80, with 6,639 shares, after trading at an intraday high of $22. Jamaica Producers traded at $16.50, with 17,858 stock units, Jamaica Stock Exchange fell 14 cents and finished trading at $6.86, with 25,000 units, JMMB Group jumped $1 to close at $28, with 69,179 shares. Kingston Properties ended at $6.65, with 4,600 shares, Kingston Wharves concluded trading at $48.61, with 9,370 shares, after declining 29 cents, Mayberry Investments lost 9 cents and finished at $6.21, with 39,950 stock units, NCB Financial Group ended down by $1.25 to $95, with 71,713 shares changing hands, Palace Amusement ended trading after posting a $300 jump to $1,300, with just 104 shares. 
PanJam Investment gained just 1 cent to trade at a 52 weeks’ high of $46.01, with 5,000 shares, Pulse Investments fell 3 cents and closed at $1.75, with 40,150 stock units, Radio Jamaica rose 11 cents and ended at $1.20, with 74,597 units, Sagicor Group lost 26 cents and concluded trading at $38.02, with 31,526 shares. Salada Foods rose 1 cents and finished at $11.26, with 5,000 shares, Scotia Group added just 1 cents to settle at $50.01, with 325,267 shares after dropping $3.98, Seprod rose just 1 cent and ended trading at $35.01, with 2,500 stock units, Supreme Ventures traded at an intraday record high of $13.50 but finished trading up 1 cent at $12.21, with 89,182 shares. Victoria Mutual Investments lost 9 cents to close at $4.30, with 723,173 shares and Wisynco Group fell 30 cents and ended at $10, with 1,214,450 shares. In the main market preference segment, JMMB Group 7.25%concluded trading at $2.10, with 324,200 shares.
Prices of securities trading for the day are those at which the last trade took place. For more details of market activities, see “Big recovery for JSE main market – Friday.”
Trading up sharply on Junior Market – Friday
Stationery & Office Supplies hit new high after posting good Q1 results.
Trading picked up on the Junior Market of the Jamaica Stock Exchange ended trading on Friday with 30 securities changing hands, resulting in an exchange of 2,909,045 units valued at $13,268,308.
On Thursday 22 securities traded, resulting in 1,858,849 units valued at $9,781,521 changing hands.
Price changes were high with declining narrowly out pacing advancing ones. At the close of market activities on Friday, the prices of 10 securities advanced, 12 declined and 8 remained unchanged leading the Junior Market Index to advance 6.38 points to close at 2,924.07.
Market activity ended with Stationery and Office jumping to new high of $7.50 following the release of strong gains in first quarter profit, with earnings per share rising 70 percent to 17 cents.
IC bid-offer Indicator|At the end of trading, the Investor’s Choice bid-offer indicator reading shows 4 stocks ending with bids higher than their last selling prices and only 1 with a lower offer.
Market activity ended with an average of 96,968 units for an average of $442,277 in contrast to 84,493 units for an average of $444,615 on Thursday. The average volume and value for the month to date amounts to 90,532 units with an average value of $363,661 and previously 89,483 units with an average value of $350,843. April closed with an average of 121,622 units at $506,803, for each security traded.
At the close of the market, Access Financial closed at $47.20, with 3,980 shares traded, AMG Packaging ended with a loss of 2 cents at $2, with 15,202 stock units, Blue Power concluded trading at $30, with 140 units, CAC 2000 finished with a loss of 1 cent at $8, in the trading of 400 shares, Cargo Handlers settled with a loss of 10 cents at $9.75, with 1,000 shares. Caribbean Cream ended trading 10 cents higher at $4.80, with 500 shares, Caribbean Producers finished trading with a loss of 35 cents at $5.60, with 500,787 units, Consolidated Bakeries closed with a loss of 10 cents at $1.85, with 10,000 shares, C2W Music ended at 45 cents, with 43,154 shares. Derrimon Trading lost 11 cents to close at $9.64, with 38,768 shares, Dolphin Cove finished with a loss of $2.55 at $14.45, with 2,963 stock units, Elite Diagnostic settled at $3.26, with 50,456 units, Eppley ended trading with a loss of $1.06 at $8.14, with 1,000 shares. 
Express Catering traded with a loss of 1 cent at $5.64, with 22,300 shares, FosRich Group finished trading 5 cents higher at $2.40, with 191,345 shares, General Accident closed 14 cents higher at $3.38, with 12,890 stock units, Honey Bun rose 1 cent to $4.61, with 84,690 shares. Jamaican Teas ended trading at $4.50, with 40,039 stock units, Jetcon Corporation traded 10 cents higher at $4.10, with 863 units, Key Insurance finished trading after rising 60 cents to end at $4, with 3,000 shares, Knutsford Express ended 50 cents higher at $13, with 6,804 shares. Lasco Distributors concluded trading with a loss of 9 cents at $4.16, with 37,722 stock units, Lasco Financial finished with a loss of 5 cents at $5.45, with 36,739 units, Lasco Manufacturing settled 5 cents higher at $3.95, with 1,213,202 shares, Main Event ended trading at $7, with 195,584 shares. Paramount Trading finished trading 39 cents higher at $3.10, with 204,316 stock units, Stationery and Office rose 50 cents to a new high of $7.50, with 102,027 units changing hands and tTech concluded trading with a loss of 13 cents at $5.87, in exchanging 13,654 shares.
In the junior market preference segment, Derrimon Trading 9% concluded trading at $1.90, with 27,020 units and Eppley 8.75% ended trading at $6, with 48,500 shares changing hands.
Prices of securities trading for the day are those at which the last trade took place.
Stocks closed down on TTSE – Friday
Trinidad & Tobago Stock Exchange Head Quarters
Trading on the Trinidad & Tobago Stock Exchange ended on Friday with an exchange of 14 securities against 16 on Thursday, with 2 advancing, 4 declining and 8 remaining unchanged.
The market ended with 407,729 units valued at $7,221,428 compared to 83,130 shares at a value of $1,588,413 trading on Thursday.
At close of the market the, Composite Index the Composite Index fell 3.14 points on Friday to 1,238.59, the All T&T Index fell 1.74 points to 1,715.23, while the Cross Listed Index fell 0.63 points to close at 102.49. IC bid-offer Indicator| At the end of trading, the Investor’s Choice bid-offer indicator reading shows the market continuing to be weak as it closed with 5 stocks ending with higher bids than the last selling prices and 4 with lower offers, an indication of the continuation of a weak market currently.
Gains| Guardian Holdings finished 5 cents higher and settled at $15.30, after exchanging 52,314 shares and Republic Financial Holdings rose 1 cent and ended at $101.69, with 7,889 stock units changing hands.
Losses| Clico Investments shares fell 10 cents and completed trading at $20.10, with 29,890 units, JMMB Group fell 5 cents and ended at $1.75, with 77,724 stock units changing hands, Trinidad Cement shed 24 cents and settled at $2.75, after exchanging 6,892 shares and Unilever Caribbean lost 95 cents and ended at $34, after exchanging 2,151 shares.
Firm Traded| Angostura Holdings ended at $15.75, with 20 stock units changing hands, First Citizens concluded trading at $35, after exchanging 35,019 shares, Grace Kennedy completed trading at $3.15, with 11,000 units, Massy Holdings ended at $47.27, with 48,662 stock units changing hands, NCB Financial Group concluded market activity at $5.50, after exchanging 76,942 shares, One Caribbean Media ended at $12.40, with 450 stock units changing hands, Sagicor Financial completed trading at $7.75, with 42,483 units and Trinidad & Tobago NGL finished trading at $29.05, with 16,293 units exchanged.
Prices of securities trading for the day are those at which the last trade took place.
Sygnus Credit garners US$21m so far
Sygnus Credit Investments offer of up to 90,909,091 ordinary share is said to be oversubscribed with around 3,000 applications amounting to more than US$21 million compared to the US$10 million that was being sought.
The offer is expected to close early next week our sources advice, with the amounts subscribed to likely to increase to those above. Applications have been received from the diaspora and within the wider Caribbean, IC Insider.com was informed. The company is likely to take up approximately 60 percent of the excess demand in keeping with the clause in the Prospectus that gave them the right to up lift the take in case of an oversubscription.
With the level of oversubscription, the total issued shares that was projected to be just over 250 million units should end up at just over 300 million ordinary shares.
The prospectus list the current yield on the portfolio of invested funds at 10.3 percent.
The capital structure of the company and the choice of investing funds will tend to result in a return closer to fixed interest levels, but likely higher than some bank lending rates, in the short to medium term as such investors should be looking for steady growth but relatively high dividend payments in the medium term. The falling interest rates on 
Jamaican dollar money market instrument will make the dividend payment very attractive source of income.
Sygnus Credit Investments is a specialty private credit investment company, dedicated to providing non-traditional financing to medium-sized firms across the wider Caribbean region. These companies typically have revenues between US$5 million and US$25 million.
The investment objective of the Company is to generate attractive risk adjusted returns with an emphasis on principal protection, by generating current income, and to a lesser extent capital appreciation, through investments primarily in Portfolio Companies using private credit instruments.
The company intends to pay out up to 85 percent of its net income as dividends to shareholders, payable on a quarterly basis. The target dividend yield is over 7 percent on the IPO price.
At December 2017, SCI had US$16.7 million in assets and generated net profits of US$660,855. The value of investment in Portfolio Companies was US$11.6 million, generating a yield of 10.3 percent.
Earnings for 2019 fiscal year could be around J$1-1.2 per share and that could see the stock trading between $15 and $20 within twelve months. Returns could be greater if they use borrowed funds to meet some of the demand they have for funding.
The Company currently has a robust pipeline of US$31.4 million in deals to finance, of which US$3.2 million has been approved, US$12.3 million has been mandated and US$15.9 million are at various stages of prospecting.
