BOSTON, MA, Dec. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – ValueSetters, Inc. (OTC: VSTR)
Six Month Highlights:
Income Statement (vs. six months ended 10/31/18)
- Net income of $566,926
- Revenue increase of 420%
- Gross profit margin of 99%, an increase of 7 points
Balance Sheet and Liquidity (vs. year-end balance sheet dated 4/30/19)
- Cash balances up 63%
- Investment balances up 101%
- Positive shareholders equity of $638,699 vs. ($865,258) at year-end
Three Month Profit and Revenue Metrics:
Quarter Ended 10/31/19 vs. Quarter Ended 10/31/18:
- Revenue increase of 943%
- Gross profit margin of 100%, an increase of 12 points
- Net income of $542,451
Sequential Results:
- Revenue increase of 504%
- Gross profit margin increase of 2 points
- Net income increase of 2116%
ValueSetters, Inc. (OTC: VSTR) announced net income of $542,451 for the second quarter of Fiscal 2020 on revenue growth of 943%, while reporting its fourth consecutive quarter of profitability. Investment balances increased by more than 100%, and the company reported a positive swing in shareholders’ equity of more than $1.5 million.
“We achieved several significant milestones this quarter. Through the first six months, we have already generated essentially the same level of earnings that we realized in Fiscal 2019 in its entirety. In addition, with the strong growth in our asset base, we generated positive book value for the first time,” said Cecilia Lenk, CEO. “These results were aided by the recently disclosed, three-month marketing and advisory services agreement for a fee of $540,000. ”
“We were also pleased to see strong performance by our clients and portfolio companies. KingsCrowd, for example, announced the acquisition of the Newchip aggregator platform, which will increase its investor community by tenfold, to more than 100,000. KingsCrowd has quickly vaulted to the number one position in ratings and analytics for online private capital markets,” added Ms. Lenk. “We look forward to strong continued performance from KingsCrowd and remain optimistic about the future of ValueSetters and its portfolio of investments.”
ValueSetters will hold an investor conference call to review first quarter results on December 18th, at 12:00 p.m. ET. To access the call, please dial 800-346-7359 or 973-528-0008 and provide the following access code: 345232. A presentation will be available on our website at https://valuesetters.com/events-and-presentations prior to the call.
For additional disclosure regarding operating results, please refer to the Quarterly Report on Form 10-Q for the period ended October 31, 2019, which has been filed with the Securities and Exchange Commission.
About ValueSetters:
Led by a team of professional investors, digital marketing experts, and technology specialists, ValueSetters is a publicly-traded boutique advisory firm with expertise across a broad range of industries. The company has unique experience in helping early stage companies raise capital over the internet and also provides technology consulting services as well as strategic advice to help companies grow and evolve to meet the challenges of today's marketplace. For more information, visit our website at http://valuesetters.com.
About KingsCrowd:
KingsCrowd is the leading independent online private market rating and analytics provider. Through in-depth market research and company due diligence, KingsCrowd provides investors with the necessary information needed to make an informed investment decision in the new online private market.
The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.