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VS Versus Systems Inc.

Quarterly report

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 June 30, 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 June 30, 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			-				-				-				-				-
At June 30, 2024			-				-				-				-				-

14 Aug 24

2:36pm

VS Versus Systems Inc.

Quarterly report

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

VS Versus Systems Inc.

		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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