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Victory Square Technologies expects 2021 to be a “harvest” year after reaching a turning point in 2020

The company said it expects to spin off GameOn, Immersive and potentially three more portfolio companies in the next 12 months

Victory Square Technologies Inc -
Victory Square also said it has seen “significant growth” in 2021 from its other portfolio companies, including Covalent, Hydreight and the recent launch of DiscreetCare.com

Victory Square Technologies Inc (CSE:VST) (OTC:VSQTF) (FRA:6F6) provided a corporate update for its shareholders following  a successful fiscal 2020, in which the company reported record net income of $19,733,031, or $0.30 per share, representing four consecutive quarters of positive net income and earnings per share.

“While 2020 represented an ‘Inflection Point’ in the Victory Square business model, 2021 can be labelled the Harvest,” Victory Square Technologies CEO Shafin Diamond Tejani said in a statement.

“Following the successful spin-off of FansUnite in 2020, we’ve got GameOn, Immersive and potentially three more portfolio companies teed up to be spun off in the next 12 months,” Diamond Tejani added.  

READ: Victory Square introduces DiscreetCare, a telehealth app for sensitive medical issues

The company also noted it has seen “significant growth” in 2021 from its other portfolio companies, including Covalent, Hydreight and the recent launch of DiscreetCare.com.

As well, Victory Square Technologies highlighted its successes during the first five months of calendar 2021, including:

  • Issuing a special common share dividend of its interest in portfolio company GameOn Entertainment Technologies Inc and Fantasy 360 Technologies Inc
  • Acquiring IV Hydreight, a mobile health and online pharmacy solution, which will team up with Victory Square Health to expand its offerings in Brazil
  • Launching DiscreetCare.com, a telehealth service across the US
  • Completing the C$6 million sale of its VPN platform
  • Signing a binding letter of intent to invest in renewable energy company Stardust Solar

Victory Square Technologies is a technology-focused incubation firm that looks to invest in and develop game-changing entrepreneurs, building toward what it calls the “fourth industrial revolution”.

The company provides its investees with access to its education programs, a global network of mentors, distribution partners, creative workspaces, resources and operational support to help them scale internationally.

Contact Sean at sean@proactiveinvestors.com

Quick facts: Victory Square Technologies Inc

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Price: 0.46 CAD

Market Cap: $44.8 m

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