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Victory Square Technologies Inc. (VSQTF) delivers cutting-edge innovation through its global portfolio of early-stage technology companies. This news hub provides investors with timely updates on strategic developments across digital health, artificial intelligence, blockchain solutions, and immersive technologies.
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Victory Square Technologies Inc. announces a strategic partnership with Polygon Studios, which will provide funding for 50% of GameOn Entertainment Technologies Inc.'s product development costs in the NFT space. The collaboration aims to leverage Polygon's technology for creating NFT-based games. This deal is non-dilutive for GameOn shareholders, enhancing their exposure to the growing crypto and NFT markets. Polygon, known for its Ethereum scaling solutions, has recently committed USD $100 million to support Web3 projects, showcasing its ongoing developments in the blockchain gaming sector.
Victory Square Technologies Inc. (CSE:VST, OTC:VSQTF) announces the launch of Crypto Pharaohs, a unique NFT collection by portfolio company Next Decentrum, inspired by ancient Egyptian culture. This limited collection features 7,006 unique collectibles, aiming to enhance the NFT experience for a wider audience. Collaborating with DAF, the project plans NFT drops along with unique rewards and experiences, with the first drop on January 7, 2022. Victory Square holds 18.32% of Next Decentrum, positioning it favorably as the NFT market expands, which has seen sales surpassing $10.6 billion.
Victory Square Technologies (CSE:VST, OTC:VSQTF) announced its Q3 2021 results, marking the seventh consecutive quarter with positive comprehensive income. The company achieved an adjusted net income of $2.36 million and an adjusted basic earnings per share of $0.03. Its working capital stands at $7.8 million, alongside a fair value gain of approximately $6 million on Covalent CQT tokens. Business highlights include share buy-backs, dividends for GameOn and Fantasy 360 Technologies, and significant portfolio company financings.
Victory Square Technologies Inc. (OTC:VSQTF) announced an investment in Creator.co, a Vancouver-based influencer marketing platform, through a share purchase agreement signed on October 13, 2021. The investment involves acquiring 1,052,941 common shares for C$1 million. Creator.co connects over 110,000 creators with brands to enhance marketing efforts. Funds will aid the development of a feature allowing creators to launch their digital currencies. The platform is recognized as a top influencer marketing platform, partnering with notable brands like Walmart and Crayola.
Victory Square Technologies Inc. (OTC:VSQTF) has expanded its partnership with GameOn Entertainment Technologies Inc. to include new free-to-play prediction games for soccer, tennis, and kabaddi on the MX Player app. This builds on their existing collaboration, which initially launched cricket prediction games. CEO Matt Bailey emphasized the enhanced fan engagement strategy as a key driver for this growth. The expanded offering coincides with major sporting events, including the T20 World Cup and FIFA World Cup, promising increased viewer interaction.
Victory Square Technologies reports steady financial health with a record net income of $19,733,031 for FY2020 and a positive earnings per share of $0.30. The company maintains a healthy balance sheet, having achieved six consecutive quarters of positive net income. Victory Square has also initiated a Normal Course Issuer Bid (NCIB) to buy back shares, aiming to enhance shareholder value by purchasing shares below their underlying worth. The company remains committed to its diversified portfolio of over 20 companies across technology sectors including health, gaming, and cybersecurity.
Victory Square Technologies (VSQTF) has announced a partnership between its portfolio company GameOn Entertainment and Chibi Dinos. This collaboration utilizes GameOn's NFT Prediction Game, generating USD $120,000 in revenue with a projected 80% gross profit. The contract also involves a 50% revenue share from NFT sales. GameOn's innovative fan engagement technology aims to expand its market reach beyond traditional sectors, enhancing its revenue streams through uncapped NFT sales. The Chibi Dinos NFTs sold out quickly, showcasing strong market demand.
Victory Square Technologies (CSE:VST, OTC:VSQTF) announces that its subsidiary, VS Digital Health, has formed a national network of affiliated medical practices, allowing for collaboration with licensed medical providers across the U.S. This affiliation aims to enhance telemedicine and mobile medicine services while ensuring compliance with healthcare regulations. The structure will facilitate easy access to healthcare services, enabling both licensed and non-licensed professionals to contribute legally. CEO Shafin Diamond Tejani envisions a future where digital healthcare comprises 80% of services, promoting comprehensive solutions for consumer needs.
Victory Square Technologies announces that its portfolio company, Immersive Tech, has obtained final approval for listing on the Canadian Securities Exchange. Immersive Tech will trade under the symbol ‘VRAR’ starting September 8, 2021. The company is recognized for its innovations in virtual and augmented reality entertainment, including the launch of its multiplayer VR attraction, UNCONTAINED. This listing follows the successful public offerings of other companies within Victory Square's portfolio, reinforcing the growth potential of its investments.
Victory Square Technologies reported robust financial results for the six months ending June 30, 2021. The company achieved an adjusted net income of $7,653,255, with adjusted EPS of $0.08 (basic) and $0.07 (diluted). For Q2 2021, the adjusted net income was $2,222,180, with an EPS of $0.02 (both basic and diluted). The company also issued special dividends from its portfolio companies GameOn and Immersive and reported a healthy cash balance of $6,131,231 at the end of Q2.
