Kv Mortgage Fund Inc.
Statements of Net Assets
As at
Feb 28, 2013
Feb 29, 2012
Assets
Mortgage loan investments
Note 2
$
13,019,170
$
7,840,484
Cash
128,938
167,966
Accrued interest receivable
101,249
79,860
61,159
68,000
-
3,735
Subscription proceeds receivable
Lender fees due from Fund Manager
Note 5
Other assets
-
3,500
13,310,516
8,163,545
50,194
72,511
Liabilities
Due to Fund Manager
Note 5
Accounts payable and accrued expenses
7,706
-
Note 5
Commitments and contingencies
30,886
10,012
104,961
Unearned income
-
47,061
Dividends payable
113,409
Note 10
Net assets, representing shareholders' equity
$
13,205,555
$
8,050,136
$
11,933,257
$
8,049,136
Shareholders' equity (Note 3):
Class A Preferred shares
Class B Preferred shares
1,271,298
$
-
1,000
Common shares
1,000
13,205,555
$
8,050,136
Shares outstanding (Note 3):
Class A Preferred shares
1,193,725
815,674
Class B Preferred shares
127,172
-
400
400
Common shares
Net assets per share (Note 7):
Class A Preferred shares
$
Class B Preferred shares
Common shares
10.00
$
9.87
10.00
-
2.50
2.50
See accompanying notes to financial statements.
Approved by the Board of Directors:
Original signed by Cameron Brinkman, Director
Original signed by Aleem Virani, Director
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