2015 ANNUAL REPORT
Statements of Comprehensive Income
Years ended
Feb 28, 2015 Feb 28, 2014
Income
Interest
$ 5,304,642 $ 2,546,869
5,304,642 2,546,869
Expenses
Service fees Note 9
534,593 273,034
Management fees Note 9
397,754 191,015
Insurance expense
25,989 -
Other operating
43,610 24,880
Audit fees
21,830 15,751
Legal fees 7,092 5,445
Director fees Note 9 18,938 9,461
Lending review committee fees Note 9 14,538 2,100
1,064,344 521,686
Net income and comprehensive income $ 4,240,298 $ 2,025,183
Earnings per share - basic and diluted
Class A preferred shares Note 8 $ 0.84 $ 0.85
Class B preferred shares Note 8 0.84 0.85
See accompanying notes to financial statements.
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