Victory Square Technologies Reports Record Net Income of $8,890,748 and Earnings Per Share of $0.12 in Q3 2020

Nachrichtenquelle: globenewswire
01.12.2020, 05:30  |  257   |   |   

  • Net income for the three-month period ending September 30th, 2020 increased to $8,890,748 and earnings per share increased to $0.12
  • Net income for the nine-month period ending September 30th, 2020 increased to $13,617,124 and earnings per share increased to $0.18
  • VST ended the quarter with a healthy balance sheet and closed an oversubscribed Brokered Private Placement of Special Warrants subsequent to the quarter for aggregate gross proceeds of approximately $6.1 million

VANCOUVER, British Columbia, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Victory Square Technologies Inc. (“Victory Square'' or the “Company”) (CSE:VST) (OTC:VSQTF) (FWB:6F6) announces it has filed its condensed audited interim consolidated financial statements and Interim Management Discussion and Analysis (MD&A) for the three months ending September 30, 2020.

Shafin Diamond Tejani, CEO of Victory Square commented, “I am very pleased with our Q3 results, we are well-funded, have a solid portfolio, a strong team and a robust pipeline of catalysts to continue this aggressive growth trajectory. We are confident that this momentum will continue in 2021. We’d like to thank our loyal shareholders and look forward to the next phase of this exciting journey.”

Highlights for the three-month period ending September 30, 2020:

  • Net income increased to $8,890,748 from ($1,016,215) during the same period year over year
  • Earnings per share increased to $0.12 from ($0.01) during the same period year over year

Highlights for the nine-month period ending September 30, 2020:

  • Net income increased to $13,617,124 from ($3,769,368) during the same period year over year
  • Earnings per share increased to $0.18 from ($0.05) during the same period year over year

VST ended the quarter with a healthy balance sheet and Subsequently, on November 9th, 2020, the Company closed an upsized and oversubscribed Brokered Private Placement of Special Warrants of the Company led by Gravitas Securities Inc. for aggregate gross proceeds of approximately $6.1 million. For additional information regarding the private placement, please refer to the Company’s news release dated November 9, 2020 and the Company’s other public disclosure documents, copies of which are available under the Company’s profile on SEDAR (www.sedar.com).

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Victory Square Technologies Reports Record Net Income of $8,890,748 and Earnings Per Share of $0.12 in Q3 2020 Net income for the three-month period ending September 30th, 2020 increased to $8,890,748 and earnings per share increased to $0.12Net income for the nine-month period ending September 30th, 2020 increased to $13,617,124 and earnings per share …

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