ValueSetters Announces Positive Operating Cash Flow for First Quarter of 2019
September 10 2018 - 4:13PM
InvestorsHub NewsWire
ValueSetters
Announces Positive Operating Cash Flow for First Quarter of
2019
Highlights:
Positive operating
cash flow of $17,153
4,655% increase in
revenues
Operating loss
reduction of 93%
83% reduction in
interest expense
Total debt reduction
of $6,864
BOSTON, MA. -- September
10,
2018 -- InvestorsHub
NewsWire -- ValueSetters, Inc.
(USOTC:VSTR)
announced positive operating
cash flow of $17,153 for the first quarter
of fiscal 2019. "Although we have not yet achieved profitability on
an operating basis, we were pleased to report positive operating
cash flow this quarter, as a direct result of the growth in our
consulting business," said Cecilia Lenk, CEO. "In addition, we were
able to reduce our operating loss to less than $5,000 and begin the
process of deleveraging our balance sheet. Revenue growth was
significant, up almost 4,700%, and we are seeing a pickup in the
number of business referrals from existing clients. One such
client, KingsCrowd, was able to sell out their equity crowdfunding
offering during the quarter, with our assistance. We earned
consulting fees on this transaction and received a significant
equity stake in the company. Our pipeline remains solid, and given
the improvement in both the number and the quality of our client
base, we are optimistic about our future growth
prospects."
For additional disclosure regarding operating results, please
refer to the Quarterly Report on Form
10-Q for the period ended July
31, 2018, which has been filed with the Securities and
Exchange Commission.
About
ValueSetters:
Led by a
team of professional investors and technology specialists,
ValueSetters is a publicly- traded boutique advisory firm with
unique expertise in helping early stage companies raise capital
over the internet. The company 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.
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.
Contact:
VALUESETTERS:
Coreen Kraysler, CFA - CFO
Ph: (781) 925-1700
Email: ckraysler@valuesetters.com