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...