Victory Square Technologies Announces Filling its Audited Annual Financial Statements on April 30th, 2021 and Reports Record Net Income of $19,733,031 and Positive Earnings Per Share of $0.30 in Fiscal 2020
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.
- Net income increased by $28,650,604 year-over-year.
- Earnings per share improved to $0.30 from ($0.10).
- Ending cash and cash equivalents stood at $4,551,751.
- None.
- 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 - The Company ended the year with a healthy balance sheet with cash and cash equivalents of
$4,551,751 - The company is issuing this news release to correct the filing date in the April 30th, 2021 release. The company filed its audited annual consolidated financial statements for 2020 along with its Management Discussion and Analysis (MD&A) on “Friday, April 30th, 2021”.
VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'' or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6), 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, 2021.
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
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: ir@victorysquare.com
Telephone: 604-283-9166
Media Relations Contact – Howard Blank, Director
Email: howard@victorysquare.com
Telephone: 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
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.
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 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.
Cautionary Disclaimers
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.
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