Agoracom Blog

VIDEO – Victory Square Technologies $ $VSQTF Faces Inflection Year, with Record $19.7M Income, Oversubscribed Finance for Immersive Tech, and Investment in Stardust Solar $ $ $

Posted by AGORACOM at 6:00 PM on Tuesday, May 4th, 2021
Victory Square Technologies VST

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 GameOnHydreight 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…

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