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November 2014

Victory Square Technologies Reports 2018 Year End Results And Files CEO Letter to Shareholders

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  • Results show significant increases in Revenue, Investments, Cash and Working Capital
  • Year highlighted by investment and acquisition of 11 new private companies in 2018
  • $10,000,000 convertible note to build, develop and create long-term value for portfolio companies and VST shareholders.

VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) successfully filed its annual consolidated financial statements for 2018 along with its MD&A on Friday, August 16th, 2019. The Company will also be filing its interim financial report and MD&A for the quarterly period ended March 31st, 2019 on or before Friday, August 23rd, 2019.

In a letter to Victory Square shareholders, Chief Executive Officer Shafin Diamond Tejani pointed to significant year-over-year increases in revenues, investments, cash and working capital. The 2018 fiscal year was marked by the addition of 11 new private companies to the Victory Square portfolio (either through investment or acquisition).

Tejani noted a series of financial highlights in his letter to shareholders, including that:

  • Revenue increased by $3,746,522 or 505.48%
  • Portfolio Investments increased by $4,883,293
  • Cash and short term investments increased by 37.62% to $3,736,683
  • Working capital increased to $3,128,864

“The complex nature and scope of the investments in and acquisitions of 11 private companies during Fiscal 2018 created substantive delays in the filing of our audited financial statements,” said Tejani. “We apologize for any inconvenience caused by these delays and will take the requisite steps to ensure that we never again experience that kind of a bump in the road. We are already heading down the path of infrastructure and process improvements that will ensure that we are able to make the most of all of the opportunities before us in 2019 and beyond.”

LETTER TO OUR SHAREHOLDERS

Dear Fellow Shareholders,

The three years since we became Victory Square Technologies have been transformational for our company. The results of our growth since 2016 sees us emerging as a strategically focused group of businesses linked by the power of innovative technologies. Victory Square has teams operating across more than 20 countries.

As is often the case, increased growth leads to greater challenges and we certainly faced those head-ons in recent months. As many of you are aware, a failure-to-file cease trade order in Canada was issued for Victory Square as the result of delays in the filing of our annual audited financial statements for the year ending December 31st, 2018.

Simply put, the nature and scope of the investment in or acquisition of 11 private companies during 2018 meant that our auditors required far more time than expected to complete our Victory Square audit. In our race to change the game, we underestimated the complexities involved in expediting the growth of our portfolio of companies. We apologize for any inconveniences caused by these delays and we’re committed to ensuring we are better prepared for these unforeseen bumps in the road.

We recognize of course that growing is learning, especially in the fast-paced tech sector. Take comfort in knowing that the challenges associated with building such a unique roster of high tech companies and startups have already led to operational, leadership and organizational changes over the past year. Our centralized management team and support and advisory resources have always been one of the big strengths of Victory Square. We will certainly continue to ensure that we are as strong on all aspects of the stewardship required to achieve our collective goals.

We have emerged from this difficult year with a clear view of what’s most important for us to drive future value creation and tangible improvements to our cash flow. Given that we continue to make substantial investments across our business in support of future growth, process and compliance will take on even greater significance to the team at Victory Square. We are confident that with your support, we will parlay these early positive trends into strong momentum over the course of 2019, 2020, and beyond.

To that end, we believe that the actions the Victory Square team took in fiscal 2018 have created exactly that: Growing momentum toward a more successful future.

Here are some financial and investment highlights that validate that perspective shared by our centralized management team:

2018 Financial Highlights

  • Revenue increased by $3,746,522 or 505.48%
  • Portfolio Investments increased by $4,883,293
  • Cash and short term investments increased by 37.62% to $3,736,683
  • Working capital increased to $3,128,864

2018 Investment Highlights:

During the fiscal year 2018, the company added investments in or acquisitions of 11 private companies:

Name Vertical
Co-Pilot (formerly Cassia Research) Automated Lead Gen (SaaS)
Multiplied Networks SD-WAN
V2 Games Inc. e-Gaming/Esports
Payvida Solutions Inc. Payments/Lending
Howyl Ventures Inc. Software Development
Shape Immersive Inc. Augmented Reality (AR)/Cloud
Flo Digital Inc. Virtual Reality/Advertising
Limitless Technologies Inc. Cyber Security/VPN
TaloFlow (formerly LocoNoco Inc.) Cloud Optimization
Cloud Benefit Solutions Inc. Insurance/Benefits
Grow Tech Labs Inc. AgTech/Health

The success of Victory Square is anchored in the dynamic combination and synergies of people, ideas and capital. Going forward into 2019 — armed with access to a $10,000,000 convertible note — we are 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. Thank you for your ongoing support of our vision. We are committed to nothing short of excellence in the weeks, months and years ahead.

Shafin Diamond Tejani, Chief Executive Officer
Victory Square Technologies

Check out VictorySquare.com and sign up to VST’s official newsletter at VictorySquare.com/newsletter.

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) 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 fin-tech, 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 their unicorns.

Our portfolio represents a unique 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.

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.

Please visit the company’s website atwww.victorysquare.com. For a free report on Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF) visit cryptocurrencynews.com.

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Bitcoin Drops 30% in Two Weeks

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Bitcoin

Bitcoin

In the first half of the year, Bitcoin (BTC) went on a remarkable rally that raised hopes of a similar rally like the one in 2017 that took the token’s price to $20,000. However, things have not gone as many had hoped, and since the month of July, the world’s biggest cryptocurrency has lost its momentum.

This week has been a particularly shattering one for BTC as it plunged to new depths and the most worrying bit about the nosedive is the fact that most traders are not sure about the reason behind it.

Bitcoin Falls $3K in Two Weeks

A few months back, the token had been trading at $13,000 apiece, but the situation has not been great since then, and according to experts, the recent plunge could be the start of a longer downturn. During the latest meltdown, Bitcoin dropped to the $8,000 level, and although it has been able to hold onto this level, traders are not sure how long that will continue.

Over the past few weeks, the crypto sphere has been a unique space, and BTC has been trading within a range. The calmness in the markets was primarily down to the fact that many traders were waiting for developments pertaining to regulations.

>> Libra Launch Date in Doubt Following Comments from Mark Zuckerberg

Many cryptocurrencies suffered losses on Tuesday this week, but it was BTC that suffered historic losses. It dropped below the level of $9,000 for the first time since June and lost as much as 17% of its value. The 17% loss remains the biggest loss that BTC has suffered in a single day since back in January of 2018.

The slump continued on to Wednesday as well and the week has turned into a bit of a crisis for BTC holders. Although a wide variety of explanations were put forward by experts, no explanation has been able to explain the dramatic plunge in the value of Bitcoin during the course of the week so far.

At the time of writing, Bitcoin is trading up slightly at $7,880.

Featured image: DepositPhotos © nevarpp

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LiteLink to Acquire Smart Sensor Technology to Target Untapped Waste Management Industry

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VANCOUVER, Jan. 21, 2020 /CNW/ – LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to announce that it has entered into a definitive agreement (the “Acquisition Agreement”) to acquire market-differentiated Internet of Things (“IoT”) sensor technologies for the waste and container management industry (the “Assets).

See the Litelink Smart Waste Offering Detailed Brochure (CNW Group/LiteLink Technologies Inc.)

As the global population approaches 8 billion, continued population density and growth inevitably increases the volume of garbage and recycling, putting additional pressure on the waste management industry. Industrial smart bin monitoring is a revolutionary way to drive greater optimization and efficiency for operators. With IoT sensors, all parties know the fill-level of containers and can predict pick-up and processing costs which, in turn, improves pick-up scheduling, profitability, and optimization.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a BC-based SaaS provider of smart monitoring sensors to improve the supply chain, is now offering smart waste/construction/recycling management solutions. By incorporating ultrasonic IoT sensors with the 1SHIFT Logistics platform, LiteLink can provide businesses with a cost-saving and efficiency-driving solution:

“We are very excited about the market-differentiating IoT sensor technology, which will allow us to provide the waste management industry with a much-needed solution,” said LiteLink CEO Ashik Karim. “We are confident that anyone that has interest or charges based on how ‘full a bin, container, or space is’ will want this technology. From grain to oil to clothing bins that require pick-ups or attention when they are full or empty, this integrated solution will solve this problem automatically without manual inspection.”

Under the terms of the Acquisition Agreement, LiteLink will purchase all of the Assets from a partnership of individuals called 3030 IoT, including, among other things, sensor technologies, intellectual property rights, equipment, hardware, inventory, customer contracts and prospect lists. Among the Assets is IoT device and software which has already been commercialized, operating with a large bin waste management company in British Columbia.

As consideration for the Assets, LiteLink has paid a $50,000 cash deposit and has agreed to pay: $60,000 in cash and $140,000 in common shares of LiteLink upon LiteLink completing a subsequent financing, and a maximum royalty payment of $1,200,000, which is only payable upon revenue being derived from the commercialization of the Assets (“Revenue”). LiteLink has also agreed to pay a continued royalty for three years after closing of 15% of Revenue.

The Acquisition Agreement is subject to confidentiality requirements and customary closing conditions, including LiteLink’s satisfactory due diligence review of the Assets, and that the chief engineer & inventor of the Assets will be joining LiteLink on a full-time basis.

The US waste management market is expected to grow steadily to $80.7 billion by 2023, yet the industry is still plagued by overfills leading to manual cleanup and a lack of efficiency in container pick-ups that are half-full or overfilled, driving fines and overhead costs. Moreover, several containers and bins have been connected with deaths during a pick-up, which are all potentially avoidable through technology solutions. Meanwhile, the smart waste management market is gaining traction and is expected to grow at a compound annual growth rate of 25.68% to reach $5.19 billion by 2024. With this transaction, LiteLink is one step closer to commercializing a turnkey hardware and software platform for widespread use and adoption.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time.

The Canadian Securities Exchange has not reviewed or approved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain certain forward-looking statements and information (together, “forward-looking statements”) within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “will”, “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, the intended integration of the Assets, the closing of the Acquisition Agreement, and other factors or information. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.

Litelink Acquires Smart Waste Management Systems to Grow IOT Offerings (CNW Group/LiteLink Technologies Inc.)

SOURCE LiteLink Technologies Inc.

Please visit the company’s website at litelinktech.com. For a free report on LiteLink Technologies Inc. (CSE:LLT)(OTC:LLNKF)(FRA:C0B) visit cryptocurrencynews.com.

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LiteLink Selected by Deloitte as Blockchain Delivery Group

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VANCOUVER, British Columbia, May 24, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF), a leader in logistics, artificial intelligence and digital payment solutions is pleased to announce that it has been selected by Deloitte Canada to bring technical experience to key client engagements.

This collaboration has already generated a successful client engagement, as Deloitte and LiteLink have effectively delivered a blockchain solution in the supply chain, logistics space for a key public sector client. This Minimum Viable Product (MVP) was built on Quorum, permission, enterprise-grade fork of the Ethereum public blockchain platform developed by J.P. Morgan.

Deloitte began identifying a suitable use-case with their client in late 2017 to validate the alignment of the problem with the technology. This solution enables a shared trusted record of immutable, transparent data between participants to drive operational efficiencies in an existing process that is manual and involves multiple stakeholders. The solution also allows the automation of activities with the use of smart contracts creating further efficiency gains amongst parties.

“LiteLink collaborated with Deloitte to be an early adopter seeking out Clients that had a real need for the use of blockchain. We found a very necessary use case to drive immutable audit trails and mission-critical workflows to drive the cost of human error and leakage down in a multinational setting,”

said Jason Lawrence, LiteLink CTO.

“These types of relationships with Deloitte are exceptionally important to gain access to large enterprise opportunities where we can leverage each other’s strengths, economics, and talent pool to drive out the best blockchain solutions for our customers,”

commented LiteLink CEO Ashik Karim.

“Supply chains and logistics systems in both the private and public sectors are rife with opportunities to be revamped and reimagined. By applying Blockchain technologies as an innovative and effective tool to lead this overhaul, Deloitte is pleased to team up with companies like LiteLink to bring more value to shareholders and ratepayers,”

said Don MacPherson, Engagement Partner at Deloitte.

LiteLink combines deep industry experience in Logistics with leading-edge technologies to create an ecosystem of shippers, third-party logistics companies, and trucking carriers to operate together with a reduced effort, lower cost, and greater predictability. LiteLink has also established a core blockchain team in British Columbia that has found practical applications for the use of blockchain in logistics, supply chain, and rating.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. For more information about LiteLink Technologies Inc., please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.

Forward-looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information and do not represent any statements or information from Deloitte. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations.

Please visit the company’s website at litelinktech.com. For a free report on LiteLink Technologies Inc. (CSE:LLT)(FRA:C0B:FFvisit microsmallcap.com.

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