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VSBLTY CEO ISSUES Q3 CORPORATE UPDATE

Company Reported Quarterly Bookings of $4.5 Million USD (NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES)

Philadelphia, PA, Nov. 29, 2021 (GLOBE NEWSWIRE) -- VSBLTY Groupe Technologies Corp. (OTCQB: VSBGF) (CSE: VSBY) (Frankfurt 5VS) (“VSBLTY”), a leading software provider of security and retail analytics technology, today issued its CEO Update to highlight Q3 financial performance as well as recent corporate milestones.

VSBLTY CEO & Co-founder Jay Hutton said, “VSBLTY is pleased to report that the third quarter bookings were a strong $4.5 million USD, resulting in a booked to revenue ratio of over 8 to 1 and providing a leading indicator of the Company’s revenue growth potential. Q3 revenue reached $522,683 USD, reflecting continued strong sales of both retail and security solutions.” Hutton added, “Further encouraging is that Q4 revenue is already considerably ahead of Q3 results and we are anticipating a strong finish to this calendar year."

Since the end of Q3 the Company has seen a significant increase in the exercise of its previously issued Warrants, resulting in cash inflows of over $2.8 million USD. In addition, the Company’s remaining convertible debt now stands at under $500,000 USD.

We are especially excited at the vast growth and profit potential of our “Store as a Medium” program which enables us to partner with major firms, gives brands the opportunity to inform, influence and motivate consumers at point of purchase and provides a new and developing advertising revenue stream for large and small retailers. “The Store as a Medium concept is helping to re-invent brick-and-mortar retail as its power is increasingly recognized by both brands and retailers,” Hutton said.

VSBLTY Teams with Phoenix Vision to Build Major Media Network in U.S. Convenience Stores

Earlier this month VSBLTY and Phoenix Vision signed a letter of intent to collaborate on building a major media network starting with more than 600 convenience stores throughout the U.S. VSBLTY’s other global ecosystem partners will provide turnkey services including hardware acquisition through deployment of the network, analytics reporting and field maintenance. VSBLTY will work with other partners to elevate the network to scale nationally with international brand consumer product advertisers and other clients as the group adds important new endpoints in major DMA markets throughout the U.S.

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Nachrichtenquelle: globenewswire
29.11.2021, 13:33  |  94   |   |   

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VSBLTY CEO ISSUES Q3 CORPORATE UPDATE Company Reported Quarterly Bookings of $4.5 Million USD (NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICESOR FOR DISSEMINATION IN THE UNITED STATES)Philadelphia, PA, Nov. 29, 2021 (GLOBE NEWSWIRE) - VSBLTY Groupe Technologies Corp. (OTCQB: …

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