ValueSetters Announces Positive Operating Cash Flow for First Quarter of 2019
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.
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.
Coreen Kraysler, CFA - CFO
Ph: (781) 925-1700