ValueSetters Announces Net Income of $131,129 for Fiscal Year 2018

Date : 07/30/2018 @ 8:40PM
Source :InvestorsHub NewsWire
Stock : Valuesetters, Inc. (PC) (VSTR)
Quote : 0.005255  0.000655 (14.24%) @ 9:07PM

ValueSetters Announces Net Income of $131,129 for Fiscal Year 2018

 

 

 

 ValueSetters Announces Net Income of $131,129 for Fiscal Year 2018

 

 

Highlights:

       Net income of $131,129 vs. loss of $828,121 in the previous year

       417% increase in revenues

       Operating loss reduction of 65%

       40% reduction in interest expense

       Working capital improvement of $2,051,712

 

Boston, MA -- July 30, 2018 -- InvestorsHub NewsWire -- ValueSetters, Inc. (OTC:VSTR) announced earnings of $131,129 for fiscal 2018. "We are pleased with the progress we have made in such a short time," said Cecilia Lenk, CEO. "In the past year, we have been able to grow revenues by over 400%, report positive net income, cut our operating loss by more than 60%, restructure our debt, and significantly improve our working capital position. We made several acquisitions, including SpaceoutVR, in order to enhance our digital games franchise and purchased a 20% stake in AthenaSoft, to help expand our technology consulting practice. We successfully negotiated a modification to the loan agreement with our largest shareholder that included an extension of the maturity date to October 31, 2020 and a reduction in the per annum interest rate from 8% to 1.25%. We also built out our team, hiring a Chief Financial Officer and Chief Marketing Officer. Meanwhile, our client pipeline continues to grow, and we expect the solid revenue growth trajectory that we have experienced in fiscal 2018 to continue in the first quarter of fiscal 2019; at this time, we expect first quarter revenues to exceed $75,000. 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 Annual Report on Form 10-K for the period ended April 30, 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.

 

VALUESETTERS:

 

Coreen Kraysler, CFA

 

CFO

 

781-925-1700

 

ckraysler@valuesetters.com

Valuesetters, Inc. (PC) (USOTC:VSTR)
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