Quinsam Capital Corporation (QCAAF) Q4 2025 Earnings Call Prepared Remarks Transcript

SA Transcripts159.5K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Quinsam Capital Corporation (QCAAF) Q4 2025 Earnings Call April 28, 2026 10:00 AM EDT Company Participants Roger Dent - CEO & Director Presentation Roger DentCEO & Director Good morning, everyone. Welcome to the Quinsam Q4 Conference Call. We'd like to keep this relatively informal, mostly an opportunity for questions. Fourth quarter, we made a small profit, had a positive impact on net asset value, which is still at that point, approximately $0.10. We've also said that we've closed the books more or less on Q1. We'll probably be reporting that in a week or 2. And we've told the market that, that quarter, we expect to see NAV grow again. Based on the performance of the [ public equity ] during the quarter. I did want to focus on a couple of interesting developments over the last number of months. One is an investment that we made early in this quarter, Deep Sea Minerals. The investment is still under 4-month hold. We put $100,000 in at $0.40, and it's currently trading over $2. So that's about [ $0.05 ] contributed to [ NAV ] at this point. Although, obviously, when the hold comes off, they may be selling and it's possible that the stock won't stay here, but it's a nice situation for the time being. We've also seen some really nice performance from Nevada Organic Phosphate. It was at $0.25 yesterday. We made a number of investments, all at a combination of $0.05 and occasionally [ $0.03 ]. So that has been a really nice performer, particularly since year-end. The other unusual one I want to highlight is Peninsula. We've owned Peninsula for quite some time, a number of years. It's a U.S. residential rental business. They own a couple of thousand single-family homes, mostly in New York State and Cleveland and a little bit in some other areas. They were looking at doing an RTO late last year. Trump started making