Versus Systems Inc.

Listed Company

VSCIK 0001701963NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Computer Processing & Data PreparationA1CAFY ends Dec 31

Period

FY 2025

Revenue

$2.18M

Net Income

$-1.79M

Total Assets

$2.06M

Equity

$10.19M

Shares Out

4.90M

Op. Cash Flow

$-2.05M

Business

Versus Systems Inc. provides business-to-business software platforms that drive user engagement through gamification and rewards for live events, games, apps and streaming content. Its main products include in-venue and mobile engagement tools—XEO (in-venue main-board platform), Filter Fan Cam (FFC) augmented reality filters, and Winfinite, a stand-alone gaming and prizing product—plus analytics, support and IP licensing. Key business segments consist of in-venue fan engagement, mobile/streaming advertising and platform licensing to teams, agencies and content creators. The company distributes its services via stadiums and arenas, websites, mobile devices, streaming media and advertising campaigns.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenues	2	57,288	271,169	1
Cost of revenues	16,446	40,277	103,067	617,049
Gross margin	2	17,011	168,102	491,791
Research and development	48,065	246,019	1	2
Selling, general and administrative	4	4	6	12
Total operating expenses	4	5	11	23
Operating loss	−2	−5	−11	−23
Other income/(expense), net	18,173	−11,384	−13,888	—
Loss before provision for income taxes	−2	−5	−11	−22
Provision for income taxes	−1,596	−24,226	—	—
Net loss	−2	−5	−11	—
Less: Net loss attributable to non-controlling interest	−352,567	−532,505	985,160	—
Net loss attributable to Versus Systems, Inc. Shareholders	−2	−4	−10	−22
Basic loss per share to shareholders (in Dollars per share)	−0.37	−1.54	−10.44	−192.89
Diluted loss per share to shareholders (in Dollars per share)	−0.37	−1.54	−10.44	−192.89
Weighted average shares basic (in Shares)	5	3	912,717	—
Weighted average shares - diluted (in Shares)	5	3	912,717	—
Change in foreign currency translation, net of tax	123,336	70,372	93,317	154,970
Total other comprehensive income	123,336	70,372	93,317	−22
Total comprehensive loss	−2	−5	−10	—
Less: comprehensive loss attributable to non-controlling interest	−352,567	−532,505	985,160	2
Comprehensive loss attributable to shareholders	−2	−4	−9	−20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	527,388	3	5	—	—
Accounts Receivable	836,000	—	—	—	—
Prepaid expenses	88,674	469,646	160,474	223,226	—
Total current assets	1	4	5	1	—
Intangible asset	609,000	—	—	6	—
Total assets	2	4	5	8	—
Accounts payable and accrued liabilities	142,759	26,288	286,427	522,012	—
Total current liabilities	142,759	26,288	321,476	3	—
Total liabilities	142,759	26,288	321,476	3	—
Preferred stock, no par value. 100,000,000 authorized shares; no shares issued or outstanding, respectively	—	—	—	—	—
Common stock and additional paid in capital, no par value. 200,000,000 authorized shares; 4,901,677 and 4,901,677 shares issued and outstanding as of December 31, 2025 and 2024, respectively	151	151	147	137	—
Accumulated other comprehensive income	441,995	318,659	248,287	154,970	—
Deficit	−141	−139	−135	−126	—
Total Versus Systems, Inc. stockholders equity	10	11	12	11	—
Non-controlling interest	−8	−8	−7	−6	—
Total stockholders equity	2	4	5	5	14
Total liabilities, noncontrolling interest and stockholders equity	2	4	5	8	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Amortization of property and equipment	—	1,688	23,754	93,543
Accretion of interest expense	—	17,795	—	—
Share-based compensation	430,428	160,865	−1	2
Changes in accounts receivable	—	—	—	—
Receivables	−836,000	18,222	—	—
Prepaid expenses and other current assets	380,972	−300,493	—	—
Deferred revenue	—	−35,049	−34,226	—
Accounts payable and accrued liabilities	116,471	−260,140	−239,073	−61,112
Cash flows used in operating activities	−2	−5	−6	−9
Development of intangible assets	−609,000	—	−19,413	−2
Cash flows used in investing activities	−609,000	—	−14,514	−3
Proceeds from convertible debt related party	—	3	—	—
Proceeds from warrant exercises	—	885,003	5	—
Payments of share and debt issuance costs	—	−106,768	−679,890	−2
Cash flows from financing activities	—	3	9	11
Effect of foreign exchange	123,336	70,620	61,235	—
Change in cash and cash equivalents during the period	−3	−2	4	—
Interest paid	—	—	—	—
Income taxes paid	—	—	—	—
Debt converted into common stock and warrants	—	2	—	—

Filings

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