ORLANDO, Fla., June 11, 2024 (GLOBE NEWSWIRE) -- Legion Capital (OTC: LGCP), a specialized lender providing growth capital to small and medium sized real estate developers, today announced audited financial results for its fiscal year 2023 ended December 31, 2023. Highlights from the 1-K annual report filed are:
- Revenue increased to $8,901,527 in 2023 from $6,876,274 in 2022, a 29% increase.
- The Company reported an increased year over year annual profit with a reported operating profit of $3,692,651 in 2023 compared to a reported operating profit of $1,078,094 in 2022, an increase of 243%.
- Shareholder equity increased from $14,330,038 in 2022 to $18,117,621 in 2023, a 26% increase.
"2023 was another solid year of operational growth for Legion Capital and we are pleased with the improvement in our operating profits," stated Legion Capital CEO Paul Carrazzone. "We believe Legion remains well positioned for continued growth as we work to continue the development of our core business for the benefit of our investors and shareholders."
About Legion Capital
Legion Capital (OTC: LGCP) is a specialized lender providing growth capital to small and medium sized real estate developers. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of real estate development lending that is under-served by banks and institutions.
Legion Capital serves our Investors and Financial Representatives 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.
Disclaimer:
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.
Media Contact
Investor Relations
Jamison Lenczyk
jamisonl@legioncapital.com
407-720-4616
