Versus Systems Inc
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 1, 2024
VS$0.79-5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flow
| Year Ended | Year Ended | |
|---|---|---|
| December 31, 2023 | December 31, 2022 | |
| ($) | ($) | |
| Cash flows from operating activities | ||
| OPERATING ACTIVITIES | ||
| Net Loss | (10,512,157) | (22,473,192) |
| Adjustments to reconcile net loss to net cash: | ||
| Amortization (Note 7) | 23,754 | 93,543 |
| Amortization of intangible assets (Note 10) | 2,444,445 | 2,937,423 |
| Impairment of goodwill and other intangibles | 3,968,332 | 8,919,002 |
| Finance expense | - | 60,770 |
| Loss on sale of equipment | 63,385 | - |
| Gain from debt settlement | (49,498) | - |
| Effect of foreign exchange | 61,235 | 70,157 |
| Change in fair value of warrant liability | - | (361,055) |
| Share-based compensation | (1,452,380) | 1,567,583 |
| Receivables | 42,527 | 62,868 |
| Prepaid expenses and other current assets | 62,752 | 154,700 |
| Deposits | 100,000 | - |
| Deferred revenue | (34,226) | (124,231) |
| Accounts payable and accrued liabilities | (239,073) | (61,112) |
| Cash flows from operating activities | (5,520,904) | (9,153,544) |
| FINANCING ACTIVITIES | ||
| Repayment of notes payable - related party | (2,519,835) | (63,819) |
| Proceeds from warrant exercises | 4,561,200 | - |
| Proceeds from share issuances | 7,812,663 | 13,251,733 |
| Payments for lease liabilities | (128,560) | (260,185) |
| Payments of share issuance costs | (679,890) | (1,736,662) |
| Cash flows from financing activities | 9,045,578 | 11,191,067 |
| INVESTING ACTIVITIES | ||
| Purchase of equipment | - | (40,211) |
| Proceeds from sale of equipment | 4,899 | - |
| Development of intangible assets | (19,413) | (2,496,621) |
| Cash flows from investing activities | (14,514) | (2,536,832) |
| Change in cash during the period | 3,510,160 | (499,309) |
| Cash - Beginning of period | 1,178,847 | 1,678,156 |
| Cash - End of period | 4,689,007 | 1,178,847 |
| Supplemental Cash Flow Information (Note 18) | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.