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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. (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.
Victory Square Technologies reported a significant turnaround in its financial performance for the year ending December 31, 2020. Net income surged to $19.73 million from a loss of $8.92 million in the prior year, marking a positive change of $28.65 million. Additionally, earnings per share improved to $0.30 from a loss of $0.10. The company ended the year with a solid cash position of $4.55 million. These results indicate a robust recovery and growth trajectory for Victory Square.
Victory Square Technologies (CSE:VST, OTC:VSQTF) has signed a binding letter of intent to invest in Stardust Solar, a leader in renewable energy education and installation in Canada and the US. Stardust, founded in 2017, offers CSA/NABCEP accredited training and a solar PV installation franchise model. They have a network of over 2000 trained professionals and have recently acquired the Canadian Solar Institute. The investment aligns with Victory Square's focus on sustainability and innovation. Details will be disclosed post-investment completion, which is subject to due diligence and definitive agreements.
Victory Square Technologies (CSE: VST, OTC: VSQTF) announced its participation in the virtual H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. The company, which focuses on next-gen internet sectors like fintech and blockchain, will be represented by CEO Shafin Diamond Tejani and Chief Growth Officer Vahid Shababi. They will provide insights into the company’s innovative portfolio. Additionally, Victory Square will present at the Planet MicroCap Showcase on April 22, 2021, and has engaged Clarkham Capital for investor awareness campaigns.
Victory Square Technologies has announced a partnership between its portfolio companies, Next Decentrum and Cloud Nine Web3, to launch NFT products and managed services. The initiative aims to turn NFTs into a dependable revenue stream for artists and content creators. Additionally, the companies plan to introduce educational products focused on NFTs and blockchain opportunities worldwide. This strategic move comes amidst notable growth in the NFT market, which sold over $216 million in the last month, representing nearly half of total NFT sales, amid a global art market valued at over $67 billion.
Victory Square Technologies will present at the Planet MicroCap Showcase: VIRTUAL on April 22, 2021, at 2:30 PM EST. CEO Shafin Diamond Tejani and CGO Vahid Shababi will lead the presentation and engage in Q&A with investors. Those interested can access the live presentation through the provided webcast link. Additionally, management will participate in private one-on-one meetings during the event, which runs from April 21-22, 2021. For access to all presentations and further event details, registration is required.
Victory Square Technologies Inc. (CSE:VST) announced its portfolio company, Immersive Tech, has signed a letter of intent with Autobahn Indoor Speedway for its VR attraction "UNCONTAINED." This initial agreement includes one unit, with an option for up to ten additional units across Autobahn's locations in the USA. The "UNCONTAINED" attraction offers a multi-sensory, immersive experience for up to six players, featuring various physical effects in a cost-effective VR package.
Victory Square Technologies announced a strategic partnership between its portfolio companies, IV Hydreight and Victory Square Health, to expand Telehealth services in Brazil. This initiative responds to the increasing demand for safe healthcare options, especially during the pandemic. Their offerings will include on-demand physicians, cosmetic procedures, in-home consultations, and COVID-19 testing, subject to necessary approvals. The partnership positions both companies to capture significant market opportunities in the emerging digital health space in Brazil, benefiting from VSH's personalized medicine solutions.
Victory Square Technologies has appointed three industry veterans to the advisory board of its portfolio company, Immersive Tech. The newly appointed advisors include Kevin Williams, a Disney Imagineer with a focus on out-of-home entertainment; Cathy Hackl, a leading voice in technology and the metaverse; and Lance Priebe, co-founder of Club Penguin. Their expertise aims to enhance Immersive's VR offerings, particularly its flagship project, UNCONTAINED, while positioning the company strategically within the entertainment landscape.
