Legion Capital Announces 2022 Financial Results
Specialized Lender reports second straight year of operating profitability
ORLANDO, Fla., May 18, 2023 (GLOBE NEWSWIRE) — Legion Capital (OTC:LGCP), a specialized real estate and business lender providing growth capital to small and medium sized companies and real estate developers, today announced audited financial results for its fiscal year 2022 ended December 31, 2022. Highlights from the 1-K annual report filed are:
- The Company reported an increased year over year annual profit with a reported operating profit of $1,078,094 compared to a reported operating profit of $279,600 in 2021, an increase of 285%.
- The Company ended the year with $8,322,114 of cash, compared with $16,898,222 in 2021, a 51% decrease resulting from capital deployment into new loan originations.
- Revenue increased to $6,876,274 in 2022 from $3,265,718 in 2021, a 110% increase resulting primarily from increased interest income derived from higher real estate development loan receivable balances.
- Shareholder equity increased from $10,400,854 in 2021 to $18,593,373 in 2022, a 79% increase.
“2022 was another good year of growth for Legion Capital. We are pleased with the increase of our loan portfolio paired with strong operating profits,” stated Legion Capital CEO Paul Carrazzone. “We believe Legion is well positioned for sustained growth and profitability as we continue to expand our core business for the benefit of our investors and shareholders.”
About Legion Capital
Legion Capital (OTC: LGCP) is a specialized real estate and business lender providing growth capital to small and medium sized companies and 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 small business 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 & INVESTOR CONTACT:
Jamison Lenczyk
Investor Relations Director
407-720-4616
[email protected]
