Victory Square Technologies Inc (OTCMKTS:VSQTF) has been absolutely launching higher on excitement surrounding the blockchain space over the past 2-3 months, with shares powering from under $0.40/share to nearly six times that level over that period. A large percentage of those gains has come on just the last few sessions
Clearly, the impetus behind the acceleration is related to the company’s recent press release introducing its portfolio company, VS Blockchain Assembly Inc., which it describes as “a dedicated Blockchain and Crypto Investment and Advisory Services Firm. Incubated and operating since early 2017, Blockchain Assembly was developed to deliver blockchain and crypto advisory services to existing Victory Square portfolio companies. Blockchain Assembly currently provides financial, technical, and management services to develop early-stage blockchain technology companies, and to enable existing technology companies to accelerate the integration and implementation of blockchain into their future growth.”
Victory Square Technologies Inc (OTCMKTS:VSQTF) trumpets itself as a company that engages in the sports, personalized healthcare, and entertainment businesses. The company focuses on virtual reality, augmented reality, mixed reality, artificial intelligence, blockchain, personalized healthcare, big data, gaming, and film. It is involved in operating fansunite.com, a sports prediction platform; producing and licensing games, contests, and other related products and experiences for sports fans; and operating virtual reality fantasy football for real football experience.
The company formerly known as Fantasy 6 Sports Inc. and changed its name to Victory Square Technologies Inc. in June 2017. Victory Square Technologies Inc. was incorporated in 2015 and is based in Vancouver, Canada.
According to company materials, “Victory Square is a venture builder that creates, funds and empowers entrepreneurs predominantly focused on Blockchain Technology, Virtual Reality, Artificial Intelligence, Personalized Health, Gaming and Film. As a technology incubator, Victory Square invests in game-changing entrepreneurs who are provided access to education programs, global mentorship networks, distribution partners, creative workspaces, resources and other forms of operational support to help them scale internationally.”
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As discussed above, shares of the stock have been on fire in a move that has been driven by continued ferocious appetite by investors for anything and everything related to blockchain technology or the cryptocurrency market space.
In this case, the company just unveiled its portfolio company specializing in advisory or consulting work meant to help other companies integrate blockchain technology into existing operations to take advantage of its inherent solution set.
“Recognizing that technology companies are prioritizing the integration of blockchain into their core technology, and utilizing token generation events (TGE) or initial coin offerings (ICO) as new ways to raise capital and acquire customers and early adopters, Blockchain Assembly has been built to service this market opportunity,” said Shafin Diamond Tejani, Chief Executive Officer of Victory Square. “Blockchain Assembly will act as a services firm providing guidance on technology architecture and development and will facilitate banking, legal and commercialization services. Further, Blockchain Assembly assists these companies with their fund-raising objectives, whether they pursue capital through token generation events, private funding, or raising money through the public markets. We are using our expertise at company building to identify, incubate, advise and invest in the best blockchain entrepreneurs, helping build the tech titans of the next century.”
Traders will note in excess of 160% tacked on to share pricing for the name in the past month. This is emblematic of the stock. VSQTF has a history of dramatic rallies. Furthermore, the company has registered increased average transaction volume recently, with the past month seeing above 1000% beyond what we have been seeing over the larger time frame.
Now commanding a market cap of $131.9M, VSQTF reports $110k in cash on the books as of its latest filed information, which compares with about $307k in debt. The company has reported about $322K in trailing twelve-month revenues. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $VSQTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $VSQTF, either long or short, and we have not been compensated for this article.