FINTECH ENABLED PRIVATE EQUITY LENDER POSTS PROFITABLE MID-YEAR RESULTS ON INCREASED INCOME
ORLANDO, Fla., Oct. 05, 2021 (GLOBE NEWSWIRE) -- Legion Capital Corporation (OTCQX: LGCP), a FinTech driven, publicly traded specialized business lender providing growth capital to small and medium sized companies and real estate developers, announced its financial results for the six-month period ended June 30, 2021. The Company posted an operating profit of $13,390 for the six-month period, compared to an operating loss of $183,979 for the same period a year ago. Income rose 22% to approximately $1.66 million for the period ending June 30, 2021. It is important to note that mid-year results are not audited or reviewed by the Company's independent auditor. This update includes Legion Capital's ticker symbol and stock exchange.
In addition to posting profitable results, Legion increased its assets from just over $12.7 million to over $19.4 million, an increase of 35%, its cash on hand from $1.227 million to over $4.964 million and shareholder equity from $248,000 to over $3.829 million. Legion further announced that it has sold approximately $24 million of its current $40 million Regulation A+ bond and preferred stock offering.
Legion Chairman James Byrd stated: "We are very pleased that we were able to post a profit for the first six months of 2021. Legion continues to experience solid profitable growth and that is a testament to the fantastic Legion team. In addition to increasing income and posting a profit, our company has shown increasing strength across the board. We are gaining solid traction in our most recent offering and the increased capital flow has allowed us to substantially increase our cash position, overall asset base and shareholder equity. By almost every measure, Legion is getting stronger every day and we are all very excited about the future for Legion Capital."
Legion Capital periodically provides information for investors on its corporate website, www.LegionCapital.com, and its investor relations website, http://legioncapital.com/investors. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.
About Legion Capital
Legion Capital (OTCQX: LGCP) is a FinTech driven specialized lender providing growth capital to small and medium sized companies. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of small business lending that is under-served by banks and institutions.
Legion Capital serves our Investors and Financial Advisors through a suite of diversified equity and debt investment products, many of which offer attractive yields, non-correlation to traditional financial markets, and defined liquidity dates. For more information, please visit www.LegionCapital.com.
Certain statements that we make in this information piece may constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as believes, expects, anticipates, intends, plans, estimates, projects, forecasts, and future or conditional verbs such as will, may, could, should, and would, as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in any Offering Documents associated with this information piece. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether the result of new information, future events or otherwise. Legion is a private lender, and not a member of FINRA or FDIC.
Investor Services Manager
This content was issued through the press release distribution service at Newswire.com.
© 2021 GlobeNewswire, Inc. All Rights Reserved.