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Victory Square Technologies Reports Nine Month Financial Results (For Period Ending Sept 30, 2021)
Friday, December 10, 2021Company Profile | Follow Company
Vancouver, BC, December 10, 2021--(T-Net)--Victory Square Technologies Inc. (CSE:VST) (OTC:VSQTF), a company that provides investors access to a diverse portfolio of next generation technology companies in key sectors including: Web 3.0, Blockchain, Gaming, the Creator Economy, NFTs and the Metaverse, announces it has filed its consolidated condensed interim financial statements and associated management's discussion and analysis ("MD&A") for the three and nine months ended September 30, 2021.
"Q3 2021 was another strong quarter for Victory Square in which we achieved a seventh consecutive quarter with positive comprehensive income, issued a share dividend, and successfully listed Fantasy 360 Technologies Inc. (CSE:VRAR)," said Shafin Diamond Tejani, Chief Executive Officer of Victory Square.
"We are living in the midst of the 4th Industrial Revolution; The Tech Revolution that will undoubtedly change everything as we know it. Web 3.0, Blockchain, Gaming, the Creator Economy and VR/AR are sectors that Victory Square has invested in. We offer investors the chance to invest in the most exciting tech trends all in one place," said Tejani.
Financial Highlights for the nine months ended September 30, 2021:
* During the nine months ended September 30, 2021, the Company had a net loss from continuing operations of $1,097,818, adjusted for non-cash costs for share-based payments of $2,385,008 and non-controlling interest for the period of $1,069,772, the adjusted net income of the Company was $2,356,962. Adjusted basic earnings per share was $0.03. Comprehensive income for the nine months ended September 30, 2021 was $2,991,525.
The Company's condensed consolidated interim financial statements for the three and nine months ended September 30, 2021 along with its MD&A are available under the Company's profile on SEDAR at www.sedar.com .
Business Highlights for the nine months ending September 30, 2021:
**In January 2021, the Company announced its intention to commence a normal course issuer bid ("NCIB") for its common shares. The board of directors of the Company believes that the recent market prices of the Company's common shares (the "Shares") do not properly reflect the underlying value of such Shares, and that the purchase of the Shares would be a desirable use of corporate funds in the best interests of the Company and its shareholders. During the nine months ended September 30, 2021, the Company purchased 130,000 common shares under the NCIB for cancellation.
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.
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.
This news release is qualified in its entirety by its interim financial statements and associated MD&A for the period ended June 30, 2021, copies of which are available on the Company's profile on SEDAR at www.sedar.com. In the case of any conflict between this news release and the financial statements and MD&A, the information provided in the financial statements and MD&A shall prevail. Investors are referred to the entirety of the financial statements and MD&A.
FORWARD-LOOKING INFORMATION This news release may contain "forward-looking information" within the meaning of applicable securities laws relating to the outlook of the business of Victory Square and its portfolio companies, 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 portfolio companies and other factors beyond our control. [ MORE ] |
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