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September 2015

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


  • 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.”


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 and sign up to VST’s official newsletter at


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


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.

Under-the-Radar Stock is Rapidly Becoming a Mini-Berkshire Hathaway for Startups – It Already Has a Portfolio of 20 Companies That Are Soon to be Big Names … Find Out How You Can Profit from All of Them! Get the Company’s Latest Press Releases Delivered Right to Your Inbox

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China to Release Its Own Cryptocurrency Soon



Cryptocurrency may have been completely unknown for most people around half a decade ago, and most of the banks in the world did not even take it seriously. However, things have changed dramatically over the past few years, and many banks are now considering the possibility of launching their own digital currencies.

Facebook (NASDAQ:FB) announced its own cryptocurrency last month, while American banking giant J. P. Morgan (NYSE:JPM) has come up with its own as well, and in a new development, it has emerged that the Chinese central bank is close to releasing its own. According to the report, a senior representative of the People’s Bank of China (PBOC) has stated that the bank is now close to launching its own digital currency.

Key Details

The deputy director of the payments department at the PBOC, Mu Changchun, stated that the cryptocurrency that the department has been working on is now almost ready. It is a significant development and one that could have far-reaching consequences for the crypto sphere at large. It is believed that the PBOC’s researchers have been hard at work with regards to the digital currency for around half a decade. The central theme of the research was to come up with a currency that could be used as a substitute for cash. In this regard, it is interesting to note that there are other central banks that are exploring similar possibilities.

>> Ethereum Underperforms Against Bitcoin: What Next for Altcoins?

Reports suggest that the issuing authority in the case of these digital tokens is going to lie with both the PBOC as well as the various commercial banks in the country. That being said, the PBOC has been a bit vague regarding the technology that is being used to produce the cryptocurrency. The central bank stated that it is not going to be solely dependent on blockchain technology in order to produce the coin. In fact, it is open to the idea of exploring the usage of other technologies.

Featured image: DepositPhotos © iqoncept

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Stablecoin Market is Showing Signs of Solid Growth



The cryptocurrency market has possibly been one of the most innovative things to have emerged over the past decade or so, and during the course of that period, it has taken the world by storm.

However, as everyone knows, ecosystems evolve, and that is what has been happening with regards to the cryptocurrency ecosystem as well. Eventually, the establishment of exchanges allowed millions of people to buy and sell cryptocurrencies with a few clicks. It was the brainchild of crypto exchanges to introduce a new digital asset class, which was to be backed by fiat currency and came to be known as a stablecoin.

Stablecoins are Rising

While crypto experts and enthusiasts never really took these coins seriously, it needs to be pointed out that the market for stablecoins is rising. The fact that they are backed by fiat currency makes stablecoins far more stable (hence the name) than other coins. Users can buy a bunch of stablecoins whenever they feel that the market might be getting a bit too volatile. Tether is one of the most popular stablecoins in the crypto space, and over the years, it has grown in popularity as more and more exchanges have started using it as a means to allow seamless trading.

>> Dogecoin Surges 37% on Binance Listing, Major Moves for Altcoins

Tether is backed by the United States Dollar, but there are other stablecoins backed by other fiat currencies. For instance, there is the eToro, which is backed by the British Pound, and there is TrueGBP, which was established by TrustToken. More and more crypto enthusiasts and traders are now getting into these kinds of coins in a big way, as exchanges continue to create such coins in order to bring some stability to the market.

However, as the crypto market continues to grow this year, experts believe that the stablecoin ecosystem will also continue to grow.

What do you think about the prospectus of stablecoins?

Featured image: DepositPhotos © -Taurus-

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Japan’s Crypto Exchange Coincheck Cuts Margin Trade Limit



The crypto space has evolved at a breakneck pace over the past few years, and much of it is due to the fact that cryptocurrencies became a much more popular investment as well as a trading vehicle all over the world. While trading was always a big thing, the introduction of margin trading changed the game altogether, and many exchanges all over the world started providing the service.

Key Announcement

Some of the best traders in the crypto space are now engaged in margin trading. That being said, it was always going to come under regulatory scrutiny. In a new development, Japanese cryptocurrency exchange Coincheck announced that it was going to reducing transaction size in such trades by 20% due to regulatory requirements.

Prior to this announcement, margin traders had the freedom to borrow five times their total holdings, but following this move, they will only be able to borrow four times their total holdings. The crypto ecosystem has grown quite quickly in Japan, and the rules are quite stringent. The sector is overseen by the Japan Virtual Currency Exchange Association (JVCEA), and the move is a direct consequence of the rules made by the association. Coincheck announced the new update in a blog post, and it stated that in order to be in compliance with the rules and regulations, it had to reduce the margin trading limit.

>> Chinese Cryptocurrency is Not Coming Anytime Soon, Says Reports

Moreover, the exchange also stated in its post that if a customer places new leveraged trades, then those trades would be canceled. Coincheck went on to state that customers could also stand to make losses if the margin maintenance rate drops below 50%.

The larger point about this development is that it remains to be seen whether this leads to a reduction of leveraged trades on the platform or not. In the initial period, something of that nature might happen, and it would be interesting to see how the exchange manages that period.

Featured image: DepositPhotos © maxkabakov

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