Alset AI Ventures Swings to Q3 Profit on Non-Cash Investment Revaluation
Alset AI Ventures (GPUS.V) Monday after trade reported a swing to a third-quarter profit of C$0.19 per share, from a loss of C$0.29 per share in the prior year period.The result was driven by a C$4.1 million net investment gain, consisting primarily of unrealized fair value increases in Alset's investment portfolio, combined with a 60% year-over-year drop in quarterly general expenses, the company said."Fiscal Q3 reflects the value creation achieved within our investment portfolio, particularly at Lyken.AI," said Chief Executive Adam Ingrao. "The increase in Lyken.AI's carrying value was derived from pricing established through a third-party transaction with FingerMotion that subsequently closed after quarter-end. Together with lower quarterly general expenses, the portfolio revaluation contributed to $3.6 million of comprehensive income and a 68% increase in shareholders' equity since fiscal year-end."Alset shares closed down C$0.025 to C$0.34 on the TSX Venture Exchange.
