Increase in cash balances of 528%
78% reduction in interest expense, driven by previous debt restructure
Operating loss reduction of 84%
Working capital improvement of $1,852,76, since fiscal year-end
BOSTON, MA -- March 19, 2018 -- InvestorsHub NewsWire -- ValueSetters, Inc. (OTC:VSTR) reported revenues of $44,068 and a substantially reduced operating loss of $22,049, for the third quarter of fiscal 2018. "We demonstrated significant improvement in top line growth, as well as a stronger balance sheet during the period," said Cecilia Lenk, CEO. "We were pleased to see progress toward our goal of achieving sustained profitability and are happy to report that ValueSetters' fiscal fourth quarter is off to a solid start; with the acquisition of a new contract on the last day of the quarter, we deferred revenue of $16,103. We have also begun to see an uptick in the number of referrals from Netcapital, a leading internet funding portal. In addition, we expect to complete the expansion of our digital marketing platform by our fiscal year-end in April, which will significantly increase the scalability of our business. As a result, management remains optimistic about future growth prospects."
For additional disclosure regarding operating results, please refer to the Quarterly Report on Form 10-Q for the period ended January 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.