Versus Systems Inc.
For the period ended Dec 31, 2024. Filed Mar 31, 2025.
View on SEC.govAbout this filing
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.
FY2024 · Filed Mar 31, 2025
VS$0.79-5.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flow
| Year Ended · Year Ended | ||||
|---|---|---|---|---|
| December 31, 2024 · December 31, 2023 | ||||
| ($) · ($) | ||||
| OPERATING ACTIVITIES | ||||
| Net Loss | $(4,574,836) | $(10,512,157) | ||
| Adjustments to reconcile net loss to net cash: | ||||
| Amortization of property and equipment | 1,688 | 23,754 | ||
| Amortization of intangible assets | - | 2,444,445 | ||
| Impairment of goodwill and other intangibles | - | 3,968,332 | ||
| Accretion of interest expense | 17,795 | - | ||
| Loss on sale of equipment | - | 63,385 | ||
| Gain from debt settlement | - | (49,498) | ||
| Share-based compensation | 160,865 | (1,452,380) | ||
| Receivables | 18,222 | 42,527 | ||
| Prepaid expenses and other current assets | (300,493) | 62,752 | ||
| Deposits | - | 100,000 | ||
| Deferred revenue | (35,049) | (34,226) | ||
| Accounts payable and accrued liabilities | (260,140) | (239,073) | ||
| Cash flows used in operating activities | (4,971,948) | (5,582,139) | ||
| INVESTING ACTIVITIES | ||||
| Proceeds from sale of equipment | - | 4,899 | ||
| Development of intangible assets | - | (19,413) | ||
| Cash flows used in investing activities | - | (14,514) | ||
| FINANCING ACTIVITIES | ||||
| Repayment of notes payable – related party | - | (2,519,835) | ||
| Proceeds from convertible debt – related party | 2,500,000 | - | ||
| Proceeds from warrant exercises | 885,003 | 4,561,200 | ||
| Proceeds from share issuances | - | 7,812,663 | ||
| Payments for lease liabilities | - | (128,560) | ||
| Payments of share and debt issuance costs | (106,768) | (679,890) | ||
| Cash flows from financing activities | 3,278,235 | 9,045,578 | ||
| Effect of foreign exchange | 70,620 | 61,235 | ||
| Change in cash and cash equivalents during the period | (1,623,093) | 3,510,160 | ||
| Cash and cash equivalents - Beginning of period | 4,689,007 | 1,178,847 | ||
| Cash and cash equivalents - End of period | $3,065,914 | $4,689,007 | ||
| Supplemental disclosures of cash flow | ||||
| Interest paid | $ | - | $ | - |
| Income taxes paid | $ | - | $ | - |
| Noncash investing and financing activities | ||||
| Debt converted into common stock and warrants | $2,411,027 | $ | - | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.