ValueSetters Reports Nine Month Net Profit in Excess of $1 Million

BOSTON, MA, March 16, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ ValueSetters, Inc. (OTC:VSTR)

Nine Month Highlights:

Income Statement (vs. nine months ended 1/31/19)

• Net income of $1,162,100 
• Revenue increase of 465% to $1,593,130
• Gross profit margin of 99%, an increase of 8 points

Balance Sheet (vs. year-end balance sheet dated 4/30/19)

• Investment balances of $2,058,113, up 218%
• Positive shareholders equity of $1,235,373 vs. ($865,258) at year-end

Three Month Profit and Revenue Metrics:

Quarter Ended 1/31/19 vs. Quarter Ended 1/31/18:

• Revenue increase of 524%
• Gross profit margin of 99.6%, an increase of 11 points
• Net income of $595,174 vs. $12,391, up 4,703%

Sequential Results:

• Revenue of $757,405 vs. $716,993, an increase of 6%
• Net income of $595,174 vs. $542,451, an increase of 10%

ValueSetters, Inc. (OTC:VSTR) announced net income of $595,174 for the third quarter of Fiscal 2020 on revenue growth of 524% while reporting its fifth consecutive quarter of profitability.  Investment balances increased by more than 200%, and the company reported positive shareholders’ equity of more than $1.2 million. 

“We are proud of the results our team achieved this quarter.  Through the first nine months, we have already doubled the level of earnings that we achieved in all of Fiscal 2019.  In addition, with the strong growth in our asset base, our book value grew to more than $1.2 million,” said Cecilia Lenk, CEO.  “These results were aided by the recently disclosed marketing and advisory services agreement with Deuce Drone, which generated revenues of $700,000 during the quarter.” 

“We were also pleased to see strong performance by our clients and portfolio companies.   KingsCrowd, for example, recently maxed out its equity offering on the Netcapital platform, raising over $1 million. It is gratifying to see such strong demand from investors for the equity in one of our valued portfolio holdings,” added Ms. Lenk. “Meanwhile, the Deuce Drone offering is off to a strong start and is almost halfway toward its goal in just a few, short weeks.  We look forward to strong continued performance from KingsCrowd and Deuce Drone and remain optimistic about the future of ValueSetters and its portfolio of investments.”