Pinetree Capital Ltd. Announces Unaudited April 30, 2012 Net Asset Value Per Share Of $2.38
TORONTO, Canada (May 15, 2012) Pinetree Capital Ltd. (TSX: PNP), announces that as at April 30, 2012, Pinetree’s unaudited net asset value per share (“NAV”) was $2.38.
NAV is calculated as at a particular date and is, by its nature, historical, and may not be reflective of Pinetree’s future performance.
Use of Non-GAAP Financial Measures
NAV is a non-GAAP (general accepted accounting principles) measure calculated as the value of total assets less the value of total liabilities divided by the total number of common shares outstanding as at a specific date. The term NAV does not have any standardized meaning according to GAAP and therefore may not be comparable to similar measures presented by other companies. There is no comparable GAAP measure presented in Pinetree’s consolidated financial statements and thus no applicable quantitative reconciliation for such non-GAAP financial measure. The Company has calculated NAV consistently for many years and believes that NAV can provide information useful to its shareholders in understanding its performance, and may assist in the evaluation of its business relative to that of its peers.
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May 15, 2012 (Source: Pinetree Capital, Ltd.)