Victory Square Technologies $VST.ca $VSQTF Faces Inflection Year, with Record $19.7M Income, Oversubscribed Finance for Immersive Tech, and Investment in Stardust Solar
Victory Square Technologies (VST:CSE / VSQTF:OTC / 6F6:FWB) builds, acquires and invests in promising start-ups, then provides the senior leadership and resources needed for fast-track growth. Across its portfolio of more than 20 global companies, it covers A.I., Virtual Reality / Augmented Reality, Blockchain, Fintech, Health-tech, Gaming, Sports Betting and SaaS. And the success its portfolio has achieved – by way of firms such as GameOn, Hydreight and Immersive Tech – has led to a record earnings performance for the year ending Dec 31, 2020: Net income increased to $19.7m from ($8.9m) YOY Earnings per share increased to $0.30 from ($0.10) YOY VST ended the quarter with cash and cash equivalents of $4.6m The news came just a day after VST closed Immersive Tech’s oversubscribed financing for gross proceeds of $2.3m, representing: · 6.8m subscription receipts · at a price of $0.35 And VST’s portfolio continues to grow. In late April, the firm signed a binding Letter of Intent to invest in renewable energy company Stardust Solar: · A Solar Network of more than 2,000+ trained solar professionals in North America · Stardust Solar recently acquired the Canadian Solar Institute That’s a lot of action. We sat down with Shafin Diamond Tejani, Victory Square’s CEO, to delve into the news...