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Victory Square Technologies Inc. reports portfolio and capital-allocation developments for a venture builder focused on healthcare infrastructure, digital health, artificial intelligence and emerging technology platforms. Recurring updates cover operating and financial results, platform scaling, normal course issuer bid activity and the progress of portfolio companies.
Company news frequently centers on Hydreight and VSDHOne, including compliant patient access, prescribing, pharmacy fulfillment and healthcare delivery across categories such as GLP-1 therapies, peptides, hormone optimization, diagnostics and wellness programs. Other portfolio themes include Insu Therapeutics' peptide delivery work and Pawsible Ventures' activity in pet wellness, AI and health technology.
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Victory Square Technologies reported positive financial performance, achieving a record net income of $19,733,031 and earnings per share of $0.30 for fiscal 2020. In the first quarter of 2021, adjusted net income was $5,146,648, with earnings per share at $0.06 and cash equivalents of $10,180,620. The company issued a special common share dividend in 2021 and will attend the Lytham Partners Summer Investor Conference from June 14-16, 2021, focusing on connecting with institutional investors.
Victory Square Technologies reported strong Q1 2021 results with an adjusted net income of $5,146,648, marking the fifth consecutive quarter of positive earnings. Adjusted basic earnings per share were $0.06 and diluted earnings per share $0.05. The company maintained a healthy cash balance of $10,180,620. Key business highlights include the acquisition of Hydreight, successful financings for Fansunite and GameOn, and ongoing expansion efforts in digital health and telemedicine. CEO Shafin Diamond Tejani expressed confidence in ongoing growth and value creation.
Victory Square Technologies (CSE:VST, OTC:VSQTF) reported record net income of $19.7 million with an EPS of $0.30 for fiscal 2020. The company plans multiple spin-offs including GameOn and Immersive, alongside launching new ventures like DiscreetCare.com and acquiring IV Hydreight. Oversubscribed financings for portfolio companies were also noted, demonstrating strong investor interest. The company is actively expanding in key tech sectors, with strategic investments in renewable energy through Stardust Solar.
Victory Square Technologies (VSQTF) announced GameOn Entertainment Technologies' approval for listing on the Canadian Securities Exchange (CSE) under the symbol ‘GET’, effective June 1, 2021. This public listing follows GameOn's acquisition of GameOn App Inc. and a successful oversubscribed financing of $5.77 million. Victory Square will distribute approximately 12.4% of its GameOn holdings as dividends to shareholders.
CEO Shafin Diamond Tejani stated this opportunity enhances GameOn's growth prospects and shareholder value.
Victory Square Technologies has launched DiscreetCare, a telehealth platform aimed at addressing sensitive health issues like hair loss and erectile dysfunction. Phase 1 includes treatments for various conditions, while Phase 2 will expand testing services. The service enhances user convenience by allowing private consultations with licensed physicians through a web app. DiscreetCare aims to reduce treatment avoidance due to stigma and discomfort associated with traditional in-person appointments. The company is poised to capitalize on the growing telehealth trend in the U.S.
Victory Square Technologies has declared a special dividend distributing 12.4% of its holdings in GameOn Entertainment Technologies to shareholders. Shareholders of record by May 21, 2021, will receive 20.74989 GameOn shares for every 1,000 shares of Victory Square held, translating to approximately 2 million shares in total. The ex-dividend trading begins on May 20, 2021, and payments are expected by May 27, 2021. Additionally, a strategic dividend initiative for Fantasy 360 Technologies is proposed, with further details pending.
Victory Square Technologies announced that its portfolio company, GameOn Entertainment Technologies, has received conditional approval for trading under the symbol CSE:GET on the Canadian Securities Exchange. GameOn, which specializes in gamification for sports and entertainment, aims to enhance user engagement across various platforms. The company recently secured $5.8 million in financing and has made key leadership appointments. Victory Square is proposing a dividend distribution of GameOn shares to its shareholders, aiming to maximize value.
Victory Square Technologies Inc. (OTC: VSQTF) reports significant growth in its portfolio company Hydreight in Q1 2021. The company expanded operations by 430%, adding 30 new locations across the U.S., totaling 31 states served. Hydreight forecasts $2.5 million in mobile medical sales for 2021, with total service sales up by over 850% compared to 2020. The introduction of an automated insurance verification process aims to streamline services, potentially attracting more healthcare partners. Hydreight plans to operate in all 50 states by Q3 2021.
Victory Square Technologies reported significant growth in its 2020 financials, with net income soaring to $19,733,031 from a loss of $8,917,573 year-over-year, an increase of $28,650,604. Earnings per share rose to $0.30, up from a loss of $0.10. The company ended the year with a strong balance sheet, holding $4,551,751 in cash and cash equivalents. This news release also serves to correct the filing date of previous documents related to the company’s audited annual consolidated financial statements for 2020, filed on April 30, 2021.