Quinsam Capital earns $100,000 in Q3 2025

Executive Summary

• Quinsam Capital Corp. reported third-quarter 2025 net income of $100,000 (zero cents per share), a significant decline from $1.2 million (one cent per share) in Q3 2024.
• CEO Roger Dent highlighted optimism for Q4, citing potential listing transactions for two major private investments, Peninsula (RentX) and Electro Metals, which are reportedly seeking funding at levels above their carrying values.
• The company’s net assets remain at approximately 10 cents per share, with shares trading at a steep discount to Net Asset Value (NAV); total liquid investments account for only ~6 cents per share.

Key Details

• Financial Performance:
  • Q3 2025 Net Income: $100,000.
  • Q3 2025 EPS (Basic & Fully Diluted): $0.00.
  • Q3 2024 Net Income: $1.2 million.
  • Q3 2024 EPS (Basic & Fully Diluted): $0.01.
• Portfolio & NAV Updates:
  • Net Assets per share: ~$0.10 as of Sept. 30, 2025.
  • Liquid Investments per share (cash, public equities, derivatives): ~$0.06.
  • Shares continue to trade at a "very steep discount" from NAV.
• Investment Activity & Outlook:
  • Peninsula (RentX): U.S. single-family rental investment; announced plans to list in Q4, looking to fund at levels over carrying value.
  • Electro Metals: Canadian mining company; announced plans to list in Q4, looking to fund at levels over carrying value.
  • Other Performers: Trading prices increased for Blumetric, Neoterrex, Royalties Inc., and City View Green (now pursuing crypto investments).
  • Strategy: Company is patiently waiting for high-quality, value-creating transactions; acknowledges uncertainty regarding go-public transactions and share price stability.
• Issuer Bid Status:
  • Bid details: Purchase of up to 4.5 million common shares.
  • Period: Sept. 19, 2025, to Sept. 18, 2026 (or earlier if target reached).
  • Q3 2025 Purchases: 0 shares.
  • Historical Context: Over 20 million shares repurchased and cancelled since 2018.
• Investor Call:
  • Date: Friday, Nov. 14, 2025.
  • Time: 10:00 a.m. Eastern Time.
  • Format: Zoom.

Notable Quotes

• "While our performance was flat in the slower summer markets, we are optimistic at this point about Q4." — Roger Dent, CEO
• "Two of our largest private investments have announced transactions to list in Q4... Peninsula (now using the name RentX)... and Electro Metals... are both looking to fund at levels over our carrying values." — Roger Dent, CEO
• "At Sept. 30, 2025, we continued to have net assets of approximately 10 cents per share outstanding... Our shares continue to trade at a very steep discount from NAV." — Roger Dent, CEO