Victory Square Technologies Reports 2018 Year End Results And Files CEO Letter to Shareholders


  • Outcomes present vital will increase in Income, Investments, Money and Working Capital
  • 12 months highlighted by funding and acquisition of 11 new non-public firms in 2018
  • $10,000,000 convertible word to construct, develop and create long-term worth for portfolio firms and VST shareholders.

VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) — Victory Sq. Applied sciences Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) efficiently filed its annual consolidated monetary statements for 2018 together with its MD&A on Friday, August 16th, 2019. The Firm will even be submitting its interim monetary report and MD&A for the quarterly interval ended March 31st, 2019 on or earlier than Friday, August 23rd, 2019.

In a letter to Victory Sq. shareholders, Chief Govt Officer Shafin Diamond Tejani pointed to vital year-over-year will increase in revenues, investments, money and dealing capital. The 2018 fiscal 12 months was marked by the addition of 11 new non-public firms to the Victory Sq. portfolio (both by means of funding or acquisition).

Tejani famous a collection of economic highlights in his letter to shareholders, together with that:

  • Income elevated by $3,746,522 or 505.48%
  • Portfolio Investments elevated by $4,883,293
  • Money and quick time period investments elevated by 37.62% to $3,736,683
  • Working capital elevated to $3,128,864

“The complicated nature and scope of the investments in and acquisitions of 11 non-public firms throughout Fiscal 2018 created substantive delays within the submitting of our audited monetary statements,” mentioned Tejani. “We apologize for any inconvenience brought on by these delays and can take the requisite steps to make sure that we by no means once more expertise that form of a bump within the street. We’re already heading down the trail of infrastructure and course of enhancements that can be certain that we’re capable of take advantage of the entire alternatives earlier than us in 2019 and past.”

LETTER TO OUR SHAREHOLDERS

Pricey Fellow Shareholders,

The three years since we turned Victory Sq. Applied sciences have been transformational for our firm. The outcomes of our development since 2016 sees us rising as a strategically targeted group of companies linked by the facility of revolutionary applied sciences. Victory Sq. has groups working throughout greater than 20 nations.

As is usually the case, elevated development results in larger challenges and we definitely confronted these head-ons in current months. As lots of you’re conscious, a failure-to-file stop commerce order in Canada was issued for Victory Sq. as the results of delays within the submitting of our annual audited monetary statements for the 12 months ending December thirty first, 2018.

Merely put, the character and scope of the funding in or acquisition of 11 non-public firms throughout 2018 meant that our auditors required way more time than anticipated to finish our Victory Sq. audit. In our race to alter the sport, we underestimated the complexities concerned in expediting the expansion of our portfolio of firms. We apologize for any inconveniences brought on by these delays and we’re dedicated to making sure we’re higher ready for these unexpected bumps within the street.

We acknowledge after all that rising is studying, particularly within the fast-paced tech sector. Take consolation in understanding that the challenges related to constructing such a singular roster of excessive tech firms and startups have already led to operational, management and organizational modifications over the previous 12 months. Our centralized administration group and help and advisory sources have at all times been one of many large strengths of Victory Sq.. We will definitely proceed to make sure that we’re as sturdy on all features of the stewardship required to realize our collective targets.

We have now emerged from this troublesome 12 months with a transparent view of what’s most essential for us to drive future worth creation and tangible enhancements to our money move. On condition that we proceed to make substantial investments throughout our enterprise in help of future development, course of and compliance will tackle even larger significance to the group at Victory Sq.. We’re assured that together with your help, we’ll parlay these early optimistic tendencies into sturdy momentum over the course of 2019, 2020, and past.

To that finish, we consider that the actions the Victory Sq. group took in fiscal 2018 have created precisely that: Rising momentum towards a extra profitable future.

Listed below are some monetary and funding highlights that validate that perspective shared by our centralized administration group:

2018 Monetary Highlights

  • Income elevated by $3,746,522 or 505.48%
  • Portfolio Investments elevated by $4,883,293
  • Money and quick time period investments elevated by 37.62% to $3,736,683
  • Working capital elevated to $3,128,864

2018 Funding Highlights:

Through the fiscal 12 months 2018, the corporate added investments in or acquisitions of 11 non-public firms:















Title Vertical
Co-Pilot (previously Cassia Analysis) Automated Lead Gen (SaaS)
Multiplied Networks SD-WAN
V2 Video games Inc. e-Gaming/Esports
Payvida Options Inc. Funds/Lending
Howyl Ventures Inc. Software program Improvement
Form Immersive Inc. Augmented Actuality (AR)/Cloud
Flo Digital Inc. Digital Actuality/Promoting
Limitless Applied sciences Inc. Cyber Safety/VPN
TaloFlow (previously LocoNoco Inc.) Cloud Optimization
Cloud Profit Options Inc. Insurance coverage/Advantages
Develop Tech Labs Inc. AgTech/Well being

The success of Victory Sq. is anchored within the dynamic mixture and synergies of individuals, concepts and capital. Going ahead into 2019 — armed with entry to a $10,000,000 convertible word — we’re effectively outfitted to leverage these sources to efficiently construct, develop and help firms within the world know-how sector with the target of making long-term worth for Victory Sq., its community of firms and its shareholders.

In the end, Victory Sq.’s group is dedicated to incubating and constructing a brand new breed of firms set to grow to be the following decade’s know-how giants. Thanks in your ongoing help of our imaginative and prescient. We’re dedicated to nothing wanting excellence within the weeks, months and years forward.

Shafin Diamond Tejani, Chief Govt Officer
Victory Sq. Applied sciences

Take a look at VictorySquare.com and signal as much as VST’s official publication at VictorySquare.com/publication.

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Sq. Applied sciences Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) builds, acquires and invests in promising startups, then supplies the senior management and sources wanted to fast-track development. The consequence: fast scale-up and monetization, with a stable monitor document of private and non-private exits.

VST’s candy spot is the cutting-edge tech that is shaping the 4th Industrial Revolution. Our portfolio consists of 20 world firms utilizing AI, VR/AR and blockchain to disrupt sectors as numerous as fin-tech, insurance coverage, well being, and gaming.

What we do in a different way for startups

VST is not simply one other investor. With actual pores and skin within the sport, we’re dedicated to making sure every firm in our portfolio succeeds. Our secret sauce begins with deciding on startups which have actual options, not simply concepts. We pair you with senior expertise in product, engineering, buyer acquisition and extra. Then we allow you to do what you do greatest — construct, innovate and disrupt. In 24-36 months, you will scale and be able to monetize.

What we do in a different way for traders

VST is a publicly-traded firm headquartered in Vancouver, Canada, and listed on the Canadian Securities Change (VST), Frankfurt Change (6F6) and the OTCQX (VSTQF). For traders, we provide early-stage entry to the following unicorns earlier than their unicorns.

Our portfolio represents a singular liquid and safe approach for traders to get entry to the newest cutting-edge applied sciences. As a result of we deal with market-ready options that scale rapidly, we’re capable of present sturdy and steady returns whereas additionally tapping into rising world tendencies with large upsides. For extra info, please go to www.victorysquare.com.

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

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