VASO CORPORATION - VASO STOCK NEWS

Vaso (OTCQX: VASO) has announced a change in the date of its special stockholders meeting. Originally scheduled for August 26, 2024, the meeting has been adjourned without considering any proposals. The new date is set for September 10, 2024, at 10:00 AM Eastern. The location remains the same: the Lever House at 390 Park Avenue, New York, NY 10022.

The company stated that this postponement, occurring after the Labor Day holiday, is intended to provide more stockholders with the opportunity to attend the meeting in person. This decision reflects Vaso's commitment to maximizing shareholder participation in important corporate decisions.

Vaso (OTCQX: VASO) reported its Q2 2024 financial results, with total revenue of $20.2 million, slightly down from $20.3 million in Q2 2023. The company's IT segment saw a 1% increase, while the professional sales service segment remained flat. The equipment segment experienced a 30% decrease. Gross profit decreased by 4% to $12.2 million. Net income for Q2 2024 was $1.2 million, down from $2.0 million in Q2 2023. Adjusted EBITDA was $1.2 million, compared to $2.1 million a year ago.

Despite lower earnings, Vaso maintains a strong financial position with $25.7 million in cash and cash equivalents. The company's deferred revenue stands at $31.7 million, with a multi-year high backlog of $39.4 million in the IT segment, indicating potential for future growth. Vaso is pursuing a NASDAQ listing through a proposed business combination with Achari Ventures Holdings Corp. I, with a special stockholders meeting scheduled for August 26, 2024.

Vaso (OTCQX: VASO) announced the SEC's approval of Achari Ventures Holdings Corp. I's (NASDAQ: AVHI) S-4 Registration Statement for their proposed business combination. Post-merger, the company will be renamed Vaso Holdings Corp. and listed on NASDAQ. Current Vaso stockholders will own 94-96% of the new entity, valued at approximately $176 million at closing.

Dr. Jun Ma, Vaso's President and CEO, highlighted the company's recent financial performance: annual revenues of $75.2M, $79.3M, and $81.0M in 2021, 2022, and 2023, respectively, with operating incomes of $2.5M, $6.5M, and $4.2M. The company has cash reserves of about $25 million. A special stockholders meeting is scheduled for August 26, 2024, to approve the business combination.

Vaso (OTCQX: VASO) announced its financial results for Q1 2024. Total revenue was $18.7 million, a 1.6% decrease year-over-year primarily due to lower equipment sales. Gross profit fell by 5.6% to $10.9 million, while SG&A expenses rose by 9.4% to $12.2 million. The company reported a net loss of $1.2 million and an adjusted EBITDA of negative $1.3 million. Despite these losses, Vaso's operating cash flow improved by $0.8 million year-over-year, and the company maintained a strong financial position with $26.0 million in cash and short-term investments as of May 3, 2024.

Vaso achieves another record in annual revenue, reaching $81.0 million in 2023, a 2.2% increase year-over-year. Net income for the year was $4.8 million, despite significant investments. The Company generated positive cash flow of $5.3 million in 2023. Deferred revenue increased to $32.2 million. Vaso entered into a business combination agreement with Achari Ventures Holdings Corp. I, anticipating a merger and a name change to 'Vaso Holdings Corp.' The Business Combination Agreement values Vaso at approximately $176 million. Financial results for Q4 2023 show a decrease in revenue by 5.6% to $21.9 million, with lower revenues in all segments. Net income for Q4 was $1.1 million, a decrease from the previous year. For the year ended December 31, 2023, revenue increased by 2.2% to $81.0 million. Gross profit increased by 5.6% to $50.6 million, while net income was $4.8 million, a decrease from the previous year.

Vaso Corporation (OTCQX:VASO) is merging with Achari Ventures Holdings Corp. I (NASDAQ:AVHI) to uplist to the Nasdaq Stock Market. The transaction values Vaso at a pro forma equity value of approximately $176 million at $10 per share. Upon closing, existing Vaso shareholders will receive consideration consisting entirely of shares of the surviving public combined company.

Vaso Corporation (OTCQX:VASO) Reports $19.4 Million Revenue and $1.2 Million Net Income for Q3 2023, Continues Profitability Streak. Despite a slight decrease in revenue and net income for the quarter, year-to-date results show solid growth with $59.1 million in revenue and $3.7 million in net income. The Company maintains a strong balance sheet with $26.9 million in cash, cash equivalents, and short-term investments at the end of Q3 2023.

Vaso Corporation's application to trade on the OTCQX Best Market has been approved, marking an important milestone for the company. Trading on OTCQX could enhance shareholder value and increase trading liquidity.