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Forum - Mining and Commodities Eh! (Direxion Shares ETF Trust Small Cap Bull 3x - TNA)    All things commodities, with a Canadian Junior Miner focus.

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From: Jimjones1972 (Rep: 3) reply to Jimjones1972Date: 05/17/2018 12:00
Forum: Mining and Commodities Eh! - Msg #6161 - List TNA msgs Thread #673916628 (Rec: 0)
TNA Earns $1.5 Million USD In Q1 2018

TNA.V Q1 2018 Results (Ending March 31st 2018)
All Numbers Are In US Dollars. Information from SEDAR

Price: $0.22
Common Shares: 124,716,865
Insider/Institutional Holdings: 95,967,855 or 77.51%

Financials

ASSETS (USD)
Property & Equipment: $8,916,932
Goodwill: $6,435,481
Trademarks: $1,185,000
Game License: $55,467
Deposits: $36,678
Inventories: $170,905
Receivable: $19,963
Other Assets: $93,404
Restricted Cash: $3,326,656
Cash: $8,431,973
Total Assets: $28,672,459

LIABILITIES (USD)
Deferred Tax: $279,000
Notes Payable: $5,504,185
Trade Payable: $6,013,996
Current Note Payable: $275,647
Total Liabilities: $12,072,828

Q1 2018 Performance
Sales: $10,174,943
Net Income: $1,482,979

Earnings per share in Q1: $1,482,979 * 1.30(CAD) / 124,716,865 = $0.0155c EPS
Prior Quarters - Revenue Breakdown per quarter

Date – Sales – Net Income
2014 - $30,555,757 - $2,720,669 USD
2015 - $33,338,543 - $3,933,883 USD
2016 - $33,187,853 - $1,909,408 USD
2017 - $35,609,459 - $3,032,901 USD
2018 - $10,174,943 - $1,482,979 USD

Management Discussion Highlights

Net revenues for the quarter ended March 31, 2018 were $10,174,943, an increase of $1,944,969 compared to the same period in the prior year. Table games revenue increased by approximately $1,381,000 as a result of gaming dollars dropped being 21.1% higher than the same period last year, and the hold percentage was up slightly by .1%. Poker revenue increased by approximately $456,000 as a result of making the Palace Lakewood all poker tables effective February 1, 2018. Operating expenses were $8,245,859 in the quarter ended March 31, 2018 compared to $7,620,589 in the prior year quarter. Labor and benefits expenses decreased slightly by approximately $11,000. This decrease was primarily due to the closure of the Palace Tukwila that took place on February 4, 2017. The decrease was offset by the increase in the minimum wage that went from $11.00 to $11.50 effective January 1, 2018. Marketing and administrative increased approximately $356,000 which was primarily due to marketing expenses increasing approximately $420,000 offset by a decrease in management fees of $75,000. The increase in marketing expenses consisted of $207,000 at the Palace Lakewood and $213,000 at the other locations. The Palace Lakewood increase was the result of promoting the location as an all poker facility. The management expenses decreased as the result of terminating the management agreement with Michels Management Services effective December 31, 2017. Gaming taxes and license expenses increased approximately $215,000 as a result of the increased gaming revenue.

The Company’s cash at March 31, 2018 was $11,758,629, compared to $10,043,965 at December 31, 2017. These amounts include “Restricted Cash” balances of $3,326,656 and $2,975,946 respectively. “Restricted Cash” balances are jackpot funds held for prizes being offered at the casinos. Cash provided by operating activities for the quarter ended March 31, 2018 was $1,838,039 compared to $1,250,501 for the quarter ended March 31, 2017.

The Company’s assets at March 31, 2018 totaled $28,672,459 compared to total liabilities of $12,072,828. At December 31, 2017, total assets were $27,062,630 compared to total liabilities of $11,945,978.

Net revenue increased to $10,174,943 in the quarter ending March 31, 2017 compared to $9,413,335 in the quarter ending December 31, 2017. Gaming dollars dropped increased 3.4% in the current quarter and the hold percentage increased 0.7% compared to the quarter ending December 31, 2017. Operating expenses in the quarter ending March 31, 2018 were $8,245,859 compared to $8,394,959 in the prior quarter. Labor and benefits expense decreased approximately $112,000 in the quarter ending March 31, 2018 compared to the prior quarter. This decrease was primarily due to labor and benefits expense at Palace Lakewood decreasing approximately $154,000 as a result of converting the location to all poker on February 1, 2018.





Reply to Jimjones1972 - Msg #6158 - 05/09/2018 09:09

TNA Earns $3 Million USD In 2017

TNA.V Year End Results (Ending December 31st 2017)
All Numbers Are In US Dollars. Information From SEDAR

Price: $0.18
Common Shares: 124,716,865
Insider/Institutional Holdings: 95,967,855 or 77.51%

ASSETS (USD)
Cash: $7,068,019
Property, Plant & Equipment: $8,941,741
Trademarks: $1,185,000
Licenses: $58,934
Deposits: $42,269
Inventories: $151,808
Accounts Receivable: $39,507
Other Current Assets: $163,925
Cash (Restricted): $2,975,946
Total Assets: $27,062,630 (2016 - $23,922,129)

LIABILITIES (USD)
Payables: $5,820,147
Notes Payable: $272,976
Deferred Tax: $279,000
Notes Payable (Mortgages): $5,573,855
Total Liabilities: $11,945,978 (2016 - $11,838,378)

2017 Sale Performance
Total Revenue: $35,609,459
Income Before Tax: $4,259,644
Income Tax Expense: $1,226,743 (will be less in 2018 due to Trump tax policy change)
Net Income: $3,032,901 USD

Earnings per share: $3,032,901 USD X 1.28 CAD = $3,882,113

$3,882,113 CAD / 124,716,865 (common shares = $0.031 CAD

Prior Quarters - Revenue Breakdown per quarter
Date – Sales – Net Income
2014 - $30,555,757 - $2,720,669 USD
2015 - $33,338,543 - $3,933,883 USD
2016 - $33,187,853 - $1,909,408 USD
2017 - $35,609,459 - $3,032,901 USD

Q1 2018 results will be out end of May. Should be another healthy profit.

Management Discussion Highlights

Casino revenues for the quarter ended December 31, 2017 were $9,413,336, an increase of $1,317,208 compared to the same period in the prior year. Gaming dollars dropped were 11.5% higher than the same period last year, which was partially offset by the hold percentage being down slightly by .1%. Operating expenses were $8,394,959 in the quarter ended December 31, 2017 compared to $7,965,032 in the prior year quarter. Labor and benefits expense increased approximately $132,000. This increase was primarily due to the increase in the minimum wage. This increase would have been even higher except for the closure of the Palace Tukwila that took place on February 4, 2017. In the fourth quarter of 2016 the Palace Tukwila had labor and benefit expense of approximately $233,000. Marketing and administrative increased approximately $267,000 which was primarily due to the final payment of $175,000 to Michels Management Services related to the termination of the management agreement. The Company had net non-operating income of $170,207 in the fourth quarter of 2017 compared to net non-operating expense of $151,418 in the fourth quarter of 2016. This increase of $321,625 was primarily due to the gain on disposal of property, plant and equipment of $246,774 recorded in the fourth quarter of 2017. This gain was primarily related to the sale of the real property of Palace Tukwila that closed on December 1, 2017.

The Company recorded year to date net revenues of $35,609,459 compared to $33,187,853 for the year 2016. Table games revenue increased approximately $1,356,000 primarily due to gaming dollars dropped increasing 6.6%. Poker revenue increased $636,000 and Food and beverage revenues net of promotional allowances increased $394,000. Total operating expenses for 2017 was $31,284,524 compared to $29,958,017 in 2016. Labor and benefits expense increased approximately $822,000 primarily due to the increase in the minimum wage from $9.47 to $11.00 an hour effective January 1, 2017. Marketing and administrative expenses increased approximately $457,000 due to management fees increasing $215,000 and professional fees increasing $128,000. The management agreement with Michels Management Services was terminated effective December 31, 2017 with the Company agreeing to make a final payment of $175,000.

Working capital at December 31, 2017 was $4,306,082 compared to working capital of $1,744,546 at December 31, 2016. With sustained healthy revenues and ongoing game protection and expense controls, management expects continued profitable operations sufficient to exceed the cash demands necessary for the company to meet its future obligations.

The Company’s assets at December 31, 2017 totaled $27,062,630 compared to total liabilities of $11,945,978. At December 31, 2016, total assets were $23,922,129 compared to total liabilities of $11,838,378. The increase in assets is primarily due to the increase in cash as a result of the income from operations of $4,324,935 in 2017

The Company’s cash at December 31, 2017 was $10,043,965, compared to $4,563,587 at December 31, 2016. These amounts include “Restricted Cash” balances of $2,975,946 and $914,071 respectively. “Restricted Cash” balances are jackpot funds held for prizes being offered at the casinos. Cash provided by operating activities as of the year ended December 31, 2017 was $6,317,699 compared to $2,819,477 as of the year ended December 31, 2016.

The operating results for the quarter ending December 31, 2017 showed an increase in net revenues of $858,639 from the prior quarter offset by an increase in operating expenses of $882,801. Net revenues increased due to an increase in table games revenue of approximately $491,000 as a result of the hold percentage being 0.9% higher in the fourth quarter. Poker revenue also increased by $165,000 in the fourth quarter compared to the prior quarter. Operating expense increase was due to Labor and benefits increasing $120,000 and Marketing and administrative expenses increasing $683,000.
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