Victory Square Technologies Reports Record Net Income of $19,733,031 and Positive Earnings Per Share of $0.30 in Fiscal 2020
Victory Square Technologies Reports Record Net Income of $19,733,031 and Positive Earnings Per Share of $0.30 in Fiscal 2020
This news release is not for distribution to U.S. newswire services for dissemination in the United States.
Vancouver, BC – April 30, 2021 – Victory Square Technologies Inc. (“Victory Square” or the “Company”) (CSE: VST – FRA: 6F6 – OTC: VSQTF), a company that provides investors access to a diverse portfolio of next generation internet companies in key sectors including: the circular economy, digital health, gaming, blockchain, AR/VR, cybersecurity, and fintech, announces it has filed its its audited annual consolidated financial statements for 2020 along with its Management Discussion and Analysis (MD&A) on Friday, April 30th, 2020.
Highlights:
- Net income increased to $19,733,031 from ($8,917,573) during the same period year over year, for an increase of $28,650,604
- The Company ended the year with a healthy balance sheet with cash and cash equivalents of $4,551,751
Shafin Diamond Tejani, CEO of Victory Square commented, “I am very pleased with our year-end results, we are well-funded, have a solid portfolio, a strong team and a robust pipeline of catalysts to continue this aggressive growth trajectory. We are confident that this momentum will continue in 2021 and beyond. We’d like to thank our loyal shareholders and look forward to the next phase of this exciting journey.”
Financial Highlights for the year ending December 31, 2020:
- Net income increased to $19,733,031 from ($8,917,573) during the same period year over year for an increase of $28,650,604
- Earnings per share increased to $0.30 from ($0.10) during the same period year over year
- VST ended the quarter with a healthy balance sheet with cash and cash equivalents of $4,551,751
Financial Highlights for the three-month period ending December 31, 2020:
- Net income increased to $8,462,951 from ($5,148,592) during the same period year over year
- Earnings per share increased to $0.11 from ($0.07) during the same period year over year
The Company’s audited annual consolidated financial statements for the year ending December 31st, 2020 along with its Management Discussion and Analysis (MD&A) are available under the Company’s profile on SEDAR (www.sedar.com).
Check out VictorySquare.com and sign up to VST´s official newsletter at www.victorysquare.com/newsletter.
On behalf of the Board of Directors
Shafin Diamond Tejani
Director and Chief Executive Officer
Victory Square Technologies Inc.
www.victorysquare.com
For further information about Victory Square, please contact:
Investor Relations Contact – Edge Communications Group
Email: [email protected]
Telephone: +1 604 283-9166
Media Relations Contact – Howard Blank, Director
Email: [email protected]
Telephon: +1 604 928-6066
About Victory Square Technologies Inc.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed for fast-track growth. VST's sweet spot is cutting-edge tech that's shaping the 4th Industrial Revolution. Our corporate portfolio consists of 20+ global companies using AI, VR/AR, and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn't your ordinary investor. With real skin in the game, we're committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you'll scale and be ready to monetize.
What we do differently for investors
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSQTF). For investors, we offer early-stage access to the next unicorns before they're unicorns. Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we're able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com
ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)
The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.
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Cautionary Disclaimers
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. Any securities referred to herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. Person absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or under any U.S. state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and all applicable U.S. state securities laws. This release does not constitute an offer to sell or a solicitation of an offer to buy such securities in the United States, Canada or in any other jurisdiction where such offer, solicitation or sale is unlawful.
FORWARD-LOOKING INFORMATION
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, statements relating to future performance, execution of business strategy, future growth, business prospects and opportunities of Victory Square and its related subsidiaries and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
