Never one to rest, leading software technology company VSBLTY Groupe Technologies Corp. (CSE:VSBY) (OTCPK:VSBGF) has more news to announce that will excite investors and solidify its position in the market.
As of today, VSBLTY has received approval from the Depository Trust Company. This means that VSBY shares are now DTC eligible.
A member of the US Federal Reserve System, the Depository Trust Company provides depository and book-entry services as well as a settlement system for securities in the United States and around the world. Its method of electronically clearing and settling securities effectively quickens the settlement process for investors and brokers and reduces transaction costs for brokerage firms.
Ultimately, by complying with DTC requirements, a company can expect its stock to be traded faster, for a lower cost, and over a much wider selection of brokerage firms.
VSBY’s Ground-Breaking Solutions and Revenue-Forward Deployments
Through industry-leading technology like artificial intelligence, computer vision, and machine learning, VSBLTY Groupe’s audience measurement and security software have impressive transformative applications for retail spaces and public safety.
Over the last several months, the company has begun deploying its solutions commercially. In May, it partnered with Onyx-Glass to implement its retail software in South African and Australian vending machines.
In September, VSBLTY was selected by Seneca Labs as a preferred vendor for its visual media product solutions. The company’s content management systems (CMS) and audience measurement solutions will be included in Seneca’s integration software. The software will come pre-loaded on digital media players.
Also in September, the company made an agreement with Energetika Technologies that will generate $10 million USD over the next three years. The agreement will see its security software, VSBLTY Vector, installed in cameras throughout two Mexico City boroughs. Vector will provide real-time crowd analytics and audience measurement.
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VSBLTY is Cash Rich and Ready for Growth
Through a brokered private placement led by Echelon Wealth Partners Inc., VSBLTY is raising a considerable amount of proceeds in order to shore up its position as a global leader of proactive digital display solutions.
The first tranche of the placement was closed on August 29. The offering of $1,000 principal amount 10% convertible unsecured debentures led to gross proceeds of $1,165,000 CAD. VSBLTY closed the second tranche on September 20, raising gross proceeds of $1,857,120.
While the private placement was initially intended for total proceeds up to $3,000,000, the company amended its agreement with Echelon to increase the size of the offering up to $4,500,000. The closing of an additional tranche of the private placement has yet to be announced.
Just before the closing of the first tranche, VSBY stock reached a 52-week low of $0.24. Since then, it’s grown 35% and now sits at $0.325.
The company is poised for further growth as its commercial deployments begin producing revenue, and it puts its proceeds from its offerings to work. VSBLTY has announced that the proceeds will be used for acquisitions and general and corporate working capital purposes.
It will be interesting to watch how VSBLTY performs in the coming months. With an influx of cash, industry-leading technology, and an ever-growing portfolio of partnerships, expect to see its solutions transform retail and security spaces.
Featured image: Canva
