Blockchain
Victory Square Reports 87.9% Increase in Revenue in Q3 2019
VANCOUVER, British Columbia, Dec. 12, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (“Victory Square” or the “Company“) (CSE:VST) (OTC:VSQTF) (FWB:6F6) announces it has filed its condensed interim consolidated financial statements and Interim Management Discussion and Analysis (MD&A) for the nine month ended September 30, 2019.
Third Quarter Financial and Business Highlights:
- Q3 revenue increased by 87.9% or $1,034,301 in the three-month period ended September 30, 2019 compared to the three months ended September 30, 2018;
- Revenue for the nine months period ended September 30, 2019 increased by 26.3% or $655,077 compared to the same period last year;
- Expenses for the nine months period ended September 30, 2019 decreased by 7.7% or $393,402 compared to the same period last year;
- Victory Square expanded our advisory team with experienced leaders in growth, operation, and finance: Carey Dillen (President of YYOGA), Darin Recchi (former senior sales leader at SAP/Business Objects), Tasi Gottschlag (COO of Keela), Rizwan Somji (CEO of Cymax Group), Soheil Samimi (AgTech Scientific), Fabian Dawson (Multiple-award-winning journalist), Darren Gill (Former Chief Strategy Officer at Namaste Technologies), Zaid Mater (Former Regional Vice President Western Canada at Salesforce).
The Company’s condensed interim consolidated financial statements and Interim MD&A for the nine months ended September 30, 2019 are available under the Company’s profile on SEDAR (www.sedar.com).
“During the past nine months, Victory Square’s select companies have achieved significant milestones in terms of revenue growth, product development and customer acquisition. Victory Square’s board of directors, management, advisors and partners will work closely with these select companies to help them successfully build, develop and grow with the objective of creating long-term value for Victory Square and its shareholders. We are confident we will parlay these positive trends into strong momentum over the course of 2019, 2020, and beyond,” said Shafin Diamond Tejani, President, CEO and Director of Victory Square.
Outlook:
Victory Square continues to execute on its 2019 growth strategy by focusing on the following: (i) achieving organic revenue growth; (ii) preparation for potential stand-alone go-public strategy in 2020 for its wholly-owned subsidiaries Fantasy 360 Technologies Inc. (dba as Fansunite Entertainment) and V2 Games Inc.; and (iii) realizing operational excellence through organizational, infrastructure and process improvements that will ensure that the Company is able to make the most of all of the opportunities before it in 2019 and beyond.
The success of Victory Square is anchored in the dynamic combination and synergies of people, ideas and capital. Going forward, armed with access to a $10,000,000 convertible note, the Company is well equipped to leverage these resources to successfully build, develop and support companies in the global technology sector with the objective of creating long-term value for Victory Square, its network of companies and its shareholders.
Ultimately, Victory Square’s team is committed to incubating and building a new breed of companies set to become the next decade’s technology giants.
Stock Options Grant
The Company also announces that pursuant to the Company’s Stock Option Plan the board of directors approved the granting of an aggregate of 5,000,000 incentive stock options to certain directors, officers, employees, and consultants of the Company at an exercise price of $0.15 per share. The options are exercisable for a period of five years, ending December 12, 2024.
Check out VictorySquare.com and sign up to VST’s official newsletter at VictorySquare.com/newsletter.
For further information about the Company, please contact:
Investor Relations Contact – Alex Tzilios
Email: [email protected]
Telephone: 778-867-0482
Media Relations Contact – Howard Blank, Director
Email: [email protected]
Telephone: 604-928-6066
ABOUT VICTORY SQUARE TECHNOLOGIES INC.
Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using AI, VR/AR and blockchain to disrupt sectors as diverse as fintech, insurance, health and gaming.
What we do differently for startups
VST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24-36 months, you’ll scale and be ready to monetize.
What we do differently for investors
VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF).
For investors, we offer early-stage access to the next unicorns before they’re unicorns.
Our portfolio represents a uniquely liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.
Forward Looking Statement
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, 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, including Fantasy 360 Technologies Inc. (dba as Fansunite Entertainment), V2 Games Inc., and other factors beyond our control. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical facts contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Blockchain
Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
The post Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety appeared first on HIPTHER Alerts.
Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
Blockchain
Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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