BOSTON, MA, March 16, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE ‒ ValueSetters, Inc. (OTC:VSTR)
Nine Month Highlights:
Income Statement (vs. nine months ended 1/31/19)
- Net income of $1,162,100
- Revenue increase of 465% to $1,593,130
- Gross profit margin of 99%, an increase of 8 points
Balance Sheet (vs. year-end balance sheet dated 4/30/19)
- Investment balances of $2,058,113, up 218%
- Positive shareholders equity of $1,235,373 vs. ($865,258) at year-end
Three Month Profit and Revenue Metrics:
Quarter Ended 1/31/19 vs. Quarter Ended 1/31/18:
- Revenue increase of 524%
- Gross profit margin of 99.6%, an increase of 11 points
- Net income of $595,174 vs. $12,391, up 4,703%
Sequential Results:
- Revenue of $757,405 vs. $716,993, an increase of 6%
- Net income of $595,174 vs. $542,451, an increase of 10%
ValueSetters, Inc. (OTC:VSTR) announced net income of $595,174 for the third quarter of Fiscal 2020 on revenue growth of 524% while reporting its fifth consecutive quarter of profitability. Investment balances increased by more than 200%, and the company reported positive shareholders’ equity of more than $1.2 million.
“We are proud of the results our team achieved this quarter. Through the first nine months, we have already doubled the level of earnings that we achieved in all of Fiscal 2019. In addition, with the strong growth in our asset base, our book value grew to more than $1.2 million,” said Cecilia Lenk, CEO. “These results were aided by the recently disclosed marketing and advisory services agreement with Deuce Drone, which generated revenues of $700,000 during the quarter.”
“We were also pleased to see strong performance by our clients and portfolio companies. KingsCrowd, for example, recently maxed out its equity offering on the Netcapital platform, raising over $1 million. It is gratifying to see such strong demand from investors for the equity in one of our valued portfolio holdings,” added Ms. Lenk. “Meanwhile, the Deuce Drone offering is off to a strong start and is almost halfway toward its goal in just a few, short weeks. We look forward to strong continued performance from KingsCrowd and Deuce Drone and remain optimistic about the future of ValueSetters and its portfolio of investments.”
ValueSetters will hold an investor conference call to review third quarter results on March 25th, 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: 687845. 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 January 31, 2020, 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 Deuce Drone:
Deuce Drone solves the last mile delivery problem for “brick and mortar” retailers by enabling drone shipment from existing stores. Leveraging clients’ current infrastructure, we design, build, and operate drone delivery systems, transforming retail stores into customer fulfillment centers. Deuce Drone provides a cost-effective, technology-driven solution for same-day delivery that allows retailers to compete with major e-commerce players.
About KingsCrowd:
KingsCrowd is a 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.