Versus Systems Inc. / "Retention" | Tables in SEC filings

VS Versus Systems Inc.

Quarterly report

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

	Three Months Ended		Three Months Ended		Nine months Ended		Nine months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
	($)		($)		($)		($)
REVENUES
Revenues		3,848		22,950		57,288		236,953
Cost of revenues		-		23,570		40,277		79,497
Gross margin		3,848		(620)		17,011		157,456

EXPENSES
Research and development		11,462		272,111		118,077		1,056,918
Selling, general and administrative		521,410		1,617,161		3,429,062		4,473,710
Total operating expenses		532,872		1,889,272		3,547,139		5,530,628

Operating loss		(529,024)		(1,889,892)		(3,530,128)		(5,373,172)
Other income (expense):
Employee retention credit refund		-		354,105		-		354,105
Other income (expense)		73		-		(248)		-
Other income/(expense), net		73		354,105		(248)		354,105
Loss before provision		(528,951)		(1,535,787)		(3,530,376)		(5,019,067)
Provision for income taxes		-		-		-		-
Net loss		(528,951)		(1,535,787)		(3,530,376)		(5,019,067)

Other total comprehensive income (loss):
Change in foreign currency translation, net of tax		(52,823)		(4,814)		28,660		23,383
Total other comprehensive income (loss)		(52,823)		(4,814)		28,660		23,383
Total comprehensive loss		(581,774)		(1,540,601)		(3,501,716)		(4,995,684)

Less: comprehensive income (loss) attributable to non-controlling interest		(31,920)		215,958		297,569		603,271
Comprehensive loss attributable to shareholders		(613,694)		(1,324,643)		(3,204,147)		(4,392,413)

Basic and diluted earnings per share to shareholders		(0.22)		(1.99)		(1.29)		(7.06)

Weighted average shares - basic and diluted		2,506,015		669,636		2,506,015		618,757

	For the Year Ended December 31,
	2023		2022

Statement of Operations and Comprehensive Loss Data:
Revenue	$	271,169	$	1,108,840
Cost of revenues		103,067		617,049
Gross Margin		168,102		491,791

Expenses
Research and development		1,107,235		2,406,006
Selling, general and administrative		5,944,909		11,838,128
Impairment of goodwill and other intangibles		3,968,332		8,919,002
Total Operating Expenses		11,020,476		23,163,36
Operating loss		(10,852,374)		(22,671,345)
Employee retention credit		(354,105)		-
Change in fair value of warrant liability		-		(361,055)
Other income/(expense)		13,888		162,902
Net loss		(10,512,157)		(22,473,192)

Other total comprehensive loss:
Change in foreign currency translation, net of tax		93,317		154,970
Total comprehensive loss	$	(10,418,840)	$	(22,318,222)

Basic and diluted earnings per share to shareholders	$	(10.66)	$	(192.89)

	Year Ended			Year Ended
	December 31, 2023			December 31, 2022
	($)			($)
REVENUES
Revenues		271,169			1,108,840
Cost of revenues		103,067			617,049
Gross margin		168,102			491,791

EXPENSES
Research and development		1,107,235			2,406,006
Selling, general and administrative		5,944,909			11,838,128
Impairment of goodwill and other intangibles		3,968,332			8,919,002
Total operating expenses		11,020,476			23,163,136

Operating loss		(10,852,374)			(22,671,345)
Change in fair value of warrant liability		-			(361,055)
Employee retention credit		(354,105)			-
Other income/(expense), net	13,888		162,902
Loss before provision for income taxes		(10,512,157)			(22,473,192)
Provision for income taxes		-			-
Net loss		(10,512,157)			(22,473,192)

Other total comprehensive income (loss):
Change in foreign currency translation, net of tax		93,317			154,970
Total other comprehensive income		93,317			154,970
Total comprehensive loss		(10,418,840)			(22,318,222)

Less: comprehensive income attributable to non-controlling interest		985,160			2,146,185
Comprehensive loss attributable to shareholders		(9,433,680)			(20,172,037)

Basic and diluted earnings per share to shareholders		(10.44)			(192.89)
Shares used in computation		912,717			103,773

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