2 results
10-Q
2024 Q1
VS
Versus Systems Inc
15 May 24
Quarterly report
4:01pm
Intangible assets were comprised of a business-to-business software platform that allows video game publishers and developers to offer prize-based matches of their games to their players. The Company continued to develop new apps, therefore additional costs were capitalized during the years ended December 31, 2023 and 2022. During the year ended December 31, 2023, the Company completed an impairment analysis of its intangible assets and concluded the assets were impaired. As a result, they recorded an impairment change in the amount of $3,968,332 during the year ended December 31,2023.
Software | Customer Relationships | Trade name | Developed Technology | Total | ||||||||||||||||
Cost | ||||||||||||||||||||
At December 31, 2022 | 14,715,529 | 3,170,966 | 420,833 | 1,209,861 | 19,517,189 | |||||||||||||||
Additions | 19,413 | - | - | - | 19,413 | |||||||||||||||
Impairment | (1,656,691) | (1,745,854) | (420,833) | (144,954) | (3,968,332) | |||||||||||||||
At December 31, 2023 | 13,078,251 | 1,425,112 | - | 1,064,907 | 15,568,270 | |||||||||||||||
Additions | - | - | - | - | - | |||||||||||||||
At March 31, 2024 | - | - | - | - | - | |||||||||||||||
Accumulated amortization | ||||||||||||||||||||
At December 31, 2022 | 11,311,681 | 1,037,144 | - | 775,000 | 13,123,825 | |||||||||||||||
Amortization | 1,766,570 | 387,968 | - | 289,907 | 2,444,445 | |||||||||||||||
At December 31, 2023 | 13,078,251 | 1,425,112 | - | 1,064,907 | 15,568,270 | |||||||||||||||
Amortization | - | - | - | - | - | |||||||||||||||
At March 31, 2024 | 13,078,251 | 1,425,112 | - | 1,064,907 | 15,568,270 | |||||||||||||||
Carrying amounts | ||||||||||||||||||||
At December 31, 2022 | 3,403,848 | 2,133,822 | 420,833 | 434,861 | 6,393,364 | |||||||||||||||
At December 31, 2023 | - | - | - | - | 0 | |||||||||||||||
At March 31, 2024 | - | - | - | - | 0 |
10-K
2023 FY
VS
Versus Systems Inc
1 Apr 24
Annual report
2:07pm
Software | Customer Relationships | Trade name | Developed Technology | Total | ||||||||||||||||
Cost | ||||||||||||||||||||
At December 31, 2021 | 12,218,908 | 4,840,000 | 750,000 | 1,550,000 | 19,358,908 | |||||||||||||||
Additions | 2,496,621 | - | - | - | 2,496,621 | |||||||||||||||
Impairments | - | (1,699,034) | (329,167) | (340,139) | (2,338,340) | |||||||||||||||
At December 31, 2022 | 14,715,529 | 3,170,966 | 420,833 | 1,209,861 | 19,517,189 | |||||||||||||||
Additions | 19,413 | - | - | - | 19,413 | |||||||||||||||
Impairment | (1,656,691) | (1,745,854) | (420,833) | (144,954) | (3,968,332) | |||||||||||||||
At December 31, 2023 | 13,078,251 | 1,425,112 | - | 1,064,907 | 15,568,270 | |||||||||||||||
Accumulated amortization | ||||||||||||||||||||
At December 31, 2021 | 9,582,355 | 345,714 | - | 258,333 | 10,186,402 | |||||||||||||||
Amortization | 1,729,326 | 691,430 | - | 516,667 | 2,937,423 | |||||||||||||||
At December 31, 2022 | 11,311,681 | 1,037,144 | - | 775,000 | 13,123,825 | |||||||||||||||
Amortization | 1,766,570 | 387,968 | - | 289,907 | 2,444,445 | |||||||||||||||
At December 31, 2023 | 13,078,251 | 1,425,112 | - | 1,064,907 | 15,568,270 | |||||||||||||||
Carrying amounts | ||||||||||||||||||||
At December 31, 2021 | 2,636,553 | 4,494,286 | 750,000 | 1,291,667 | 9,172,506 | |||||||||||||||
At December 31, 2022 | 3,403,848 | 2,133,822 | 420,833 | 434,861 | 6,393,364 | |||||||||||||||
At December 31, 2023 | 0 | 0 | 0 | 0 | 0 |
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