Annual report 2013
Statements of Operations
Years ended February 28, 2013 and February 29, 2012
2013
2012
Income
Interest
Lender fees
$
Note 5
979,258
$
626,063
30,599
30,731
1,009,857
656,794
81,045
65,254
Expenses
Management fees
Note 4
Service fees
Note 4
87,381
32,128
13,612
8,583
Legal fees
24,911
5,344
Other operating
12,158
7,721
8,652
-
Audit fees
Director fees
Note 4
Independent review committee fees
Note 4
Increase in net assets from operations
900
-
228,659
119,030
$
781,198
$
537,764
$
777,247
$
537,764
Increase in net assets from operations:
Class A Preferred shares
Class B Preferred shares
3,951
-
Common shares
-
Increase in net assets from operations per share:
Class A Preferred shares
Class B Preferred shares
Common shares
See accompanying notes to financial statements.
30
$
0.87
$
0.90
0.87
-
-
-
