ACCESS Newswire
10 Jul 2020, 01:49 GMT+10
Company Reports Book Value of $0.37 per Share
BOCA RATON, FL / ACCESSWIRE / July 9, 2020 / Emergent Capital, Inc. (OTCQX:EMGC) ('Emergent' or the 'Company'), today reported its financial results for the second fiscal quarter ended May 31, 2020.
Second Quarter 2020 and Recent Highlights
White Eagle Portfolio Highlights
'Our investment assets performed well in the second quarter as we continue to evaluate how the COVID-19 pandemic is impacting the overall portfolio,' said Pat Curry, Emergent's Chairman and Chief Executive Officer. 'We had 11 policies maturity during the second quarter that yielded an aggregate benefit of $43.2 million, and thus far, our third quarter for 2020, which ends August 31st, has yielded five policy maturities totaling $12.5 million. Our portfolio is highly concentrated geographically, with the last known location of more than 60% of insureds believed to be in New York, California and Florida, the three states that have produced the highest number of confirmed COVID cases to date.'
Three Months Ended May 31, 2020 Financial Results Summary
Six Months Ended May 31, 2020 Financial Results Summary
The Company had 158,655,140 shares of common stock outstanding, treasury shares of 608,000 and an undiluted book value of $0.37 per share at May 31, 2020.
Investment in Limited Partnership Quarterly Highlights:
Investment in Limited Partnership Six Months Ended May 31, 2020
About Emergent Capital, Inc.
Emergent (OTCQX:EMGC) is a specialty finance company that invests in life settlements. More information about Emergent can be found at www.emergentcapital.com.
Safe Harbor Statement
This press release may contain certain 'forward-looking statements' relating to the business of Emergent Capital, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are 'forward-looking statements.' These forward-looking statements are often identified by the use of forward-looking terminology such as 'believes,' 'expects' or similar expressions, and involve known and unknown risks and uncertainties. Although Emergent believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, Emergent does not assume a duty to update these forward-looking statements.
Company Contact:
Investor Relations
Rob Fink
FNK IR
646.809.4048
[email protected]
www.emergentcapital.com
Emergent Capital, Inc.
CONSOLIDATED STATEMENTS OF OPERATIONS
Emergent Capital, Inc.
CONSOLIDATED BALANCE SHEETS
* Derived from audited consolidated financial statements.
SOURCE: Emergent Capital, Inc.
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