Alpha Investment Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 04:44 pm
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Alpha Investment Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced total revenue was USD 39,799 compared to USD 8,932 a year ago. Operating loss was USD 509,444 compared to USD 17,300 a year ago. Net loss was USD 507,553 compared to USD 120,408 a year ago. Basic loss per share was USD 0.01 compared to Basic EPS of USD 0 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to Basic EPS - Continuing Operations of USD 0 a year ago. For the half year, total revenue was USD 66,912 compared to USD 17,365 a year ago. Operating loss was USD 725,680 compared to USD 62,829 a year ago. Net loss was USD 1.038 million compared to USD 1.095 million a year ago. Basic loss per share was USD 0.03 compared to USD 0.03 a year ago.
Alpha Investment Inc. is focused on providing capital directly to borrowers seeking financing for commercial real estate properties, either for refinancing or acquisitions. These loans encompass originating performing commercial first mortgage loans, subordinate financings, and other commercial real estate-related debt. It is focused on financing across a spectrum of asset-backed and commercial real asset type collateral of any property type, such as office, retail, industrial, multi-family, and hospitality. The Company coordinates its lending initiatives with outside commercial real estate loan brokers, which have access to commercial real estate owners seeking financing or refinancing opportunities, and with loan origination firms that have borrowers seeking loans. The Company from time to time is also engaged in participating equity financing within strategic opportunistic projects and businesses. It targets lending opportunities that are secured by commercial real estate.