2024 Q3 Form 10-Q Financial Statement

#000121390024068862 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q4
Revenue $3.848K $26.94K $271.2K
YoY Change -80.76% -51.94% 24.62%
Cost Of Revenue $16.23K $103.1K
YoY Change
Gross Profit $3.848K $10.71K $168.1K
YoY Change -720.65%
Gross Profit Margin 100.0% 39.76% 61.99%
Selling, General & Admin $521.4K $1.510M $7.052M
YoY Change -60.8% -2.84% 163.6%
% of Gross Profit 13550.16% 14102.43% 4195.21%
Research & Development $11.46K
YoY Change -95.79%
% of Gross Profit 297.87%
Depreciation & Amortization $878.00 $348.2K
YoY Change -99.86% -68.31%
% of Gross Profit 22.82% 207.14%
Operating Expenses $532.9K $1.510M $7.052M
YoY Change -72.81% -33.75% 86.86%
Operating Profit -$529.0K -$1.500M -$6.884M
YoY Change -72.01%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $73.00 -$70.00 $340.2K
YoY Change -99.98% 73.48%
Pretax Income -$529.0K -$1.500M -$10.51M
YoY Change -66.31% -35.09% -9.93%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$529.0K -$1.500M -$10.51M
YoY Change -66.31% -35.09% -9.93%
Net Earnings / Revenue -13746.13% -5566.97% -3876.59%
Basic Earnings Per Share -$0.22
Diluted Earnings Per Share -$0.22 -$0.60 -$11.52
COMMON SHARES
Basic Shares Outstanding 2.551M shares 2.506M shares
Diluted Shares Outstanding 2.506M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $471.3K $905.9K $4.689M
YoY Change -78.28% -71.64% 297.76%
Cash & Equivalents $471.2K $905.9K $4.689M
Short-Term Investments
Other Short-Term Assets $770.9K $913.7K $160.5K
YoY Change 108.36% 114.62% -28.11%
Inventory
Prepaid Expenses $770.9K $913.7K $160.5K
Receivables $10.25K $8.680K
Other Receivables $9.540K
Total Short-Term Assets $1.243M $1.830M $4.868M
YoY Change -51.82% -49.74% 232.76%
LONG-TERM ASSETS
Property, Plant & Equipment $878.00 $1.940K
YoY Change -95.25% -98.88%
Goodwill
YoY Change
Intangibles $0.00 $0.00
YoY Change -100.0%
Long-Term Investments
YoY Change
Other Assets $8.680K
YoY Change -92.0%
Total Long-Term Assets $0.00 $878.00 $10.62K
YoY Change -100.0% -99.98% -99.86%
TOTAL ASSETS
Total Short-Term Assets $1.243M $1.830M $4.868M
Total Long-Term Assets $0.00 $878.00 $10.62K
Total Assets $1.243M $1.831M $4.878M
YoY Change -83.84% -80.67% -44.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.66K $82.58K
YoY Change -82.09% -40.28%
Accrued Expenses $25.78K $10.95K $26.35K
YoY Change 28.92% -69.64% -66.69%
Deferred Revenue $1.164K $9.331K $35.05K
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $26.95K $32.94K $321.5K
YoY Change -98.71% -98.56% -90.33%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $26.95K $32.94K $321.5K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities -$7.658M -$7.684M -$7.066M
YoY Change 55.97% 70.85% 131.03%
SHAREHOLDERS EQUITY
Retained Earnings -$138.7M -$138.1M -$135.4M
YoY Change 7.57%
Common Stock $147.3M $147.3M $147.1M
YoY Change 7.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.500M $9.515M $11.94M
YoY Change
Total Liabilities & Shareholders Equity $1.243M $1.831M $4.878M
YoY Change -83.84% -80.67% -44.58%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q4
OPERATING ACTIVITIES
Net Income -$529.0K -$1.500M -$10.51M
YoY Change -66.31% -35.09% -9.93%
Depreciation, Depletion And Amortization $878.00 $348.2K
YoY Change -99.86% -68.31%
Cash From Operating Activities -$472.3K -$1.986M -$1.161M
YoY Change -44.44% 58.15% -44.26%
INVESTING ACTIVITIES
Capital Expenditures -$590.00
YoY Change -100.15%
Acquisitions
YoY Change
Other Investing Activities $4.900K
YoY Change
Cash From Investing Activities -$4.510K
YoY Change -98.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.674M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.686M
YoY Change 40.04%
NET CHANGE
Cash From Operating Activities -472.3K -1.986M -1.161M
Cash From Investing Activities -4.510K
Cash From Financing Activities 3.686M
Net Change In Cash -472.3K -1.986M 2.520M
YoY Change -54.15% -4.75% 1585.28%
FREE CASH FLOW
Cash From Operating Activities -$472.3K -$1.986M -$1.161M
Capital Expenditures -$590.00
Free Cash Flow -$1.160M
YoY Change -53.26%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-5.46
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2024-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39885
dei Entity Registrant Name
EntityRegistrantName
VERSUS SYSTEMS INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
A1
dei Entity Address Address Line1
EntityAddressAddressLine1
1558 West Hastings St
dei Entity Address City Or Town
EntityAddressCityOrTown
Vancouver
dei Entity Address State Or Province
EntityAddressStateOrProvince
BC
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
V6G 3J4 Canada
dei City Area Code
CityAreaCode
(424)
dei Local Phone Number
LocalPhoneNumber
226-8588
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2024Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
2550728 shares
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
905915 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4689007 usd
CY2024Q2 us-gaap Receivables Net Current
ReceivablesNetCurrent
10250 usd
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
18222 usd
CY2024Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
913658 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
160474 usd
CY2024Q2 us-gaap Assets Current
AssetsCurrent
1829823 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
4867703 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
8679 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
878 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1935 usd
CY2024Q2 us-gaap Assets
Assets
1830701 usd
CY2023Q4 us-gaap Assets
Assets
4878317 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
23606 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
286427 usd
CY2024Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
9331 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
35049 usd
CY2024Q2 us-gaap Liabilities Current
LiabilitiesCurrent
32937 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
321476 usd
CY2023 us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
us-gaap Common Stock Shares Authorized Unlimited
CommonStockSharesAuthorizedUnlimited
Unlimited
CY2024Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
147290988 usd
CY2023Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
147130123 usd
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
329770 usd
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
248287 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-138105958 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-135434022 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
9514800 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
11944388 usd
CY2024Q2 us-gaap Minority Interest
MinorityInterest
-7717036 usd
CY2023Q4 us-gaap Minority Interest
MinorityInterest
-7387547 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1797764 usd
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4556841 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1830701 usd
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4878317 usd
CY2024Q1 us-gaap Revenues
Revenues
26937 usd
CY2023Q1 us-gaap Revenues
Revenues
56053 usd
us-gaap Revenues
Revenues
53440 usd
us-gaap Revenues
Revenues
214003 usd
CY2024Q1 us-gaap Cost Of Revenue
CostOfRevenue
16231 usd
CY2023Q1 us-gaap Cost Of Revenue
CostOfRevenue
23570 usd
us-gaap Cost Of Revenue
CostOfRevenue
40277 usd
us-gaap Cost Of Revenue
CostOfRevenue
55927 usd
CY2024Q1 us-gaap Gross Profit
GrossProfit
10706 usd
CY2023Q1 us-gaap Gross Profit
GrossProfit
32483 usd
us-gaap Gross Profit
GrossProfit
13163 usd
us-gaap Gross Profit
GrossProfit
158076 usd
CY2024Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
67203 usd
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
717667 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
106615 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
784807 usd
CY2024Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1443171 usd
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
1625471 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2907652 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
3010813 usd
CY2024Q1 us-gaap Operating Expenses
OperatingExpenses
1510374 usd
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
2343138 usd
us-gaap Operating Expenses
OperatingExpenses
3014267 usd
us-gaap Operating Expenses
OperatingExpenses
3795620 usd
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1499668 usd
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-2310655 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-3001104 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-3637544 usd
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-74 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-321 usd
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1499742 usd
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-2310655 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3001425 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3637544 usd
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-1499742 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-2310655 usd
us-gaap Profit Loss
ProfitLoss
-3001425 usd
us-gaap Profit Loss
ProfitLoss
-3637544 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
121174 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
18849 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
160865 usd
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
28197 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
121174 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18849 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
160865 usd
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
28197 usd
CY2024Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-1378568 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2291806 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-2840560 usd
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-3609347 usd
CY2024Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-156197 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-268894 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-329489 usd
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-401588 usd
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-1222371 usd
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2022912 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-2511071 usd
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-3207759 usd
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.54
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.07
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-5.46
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2506015 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
669636 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
2506015 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
592896 shares
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4556841 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
160865 usd
CY2024Q1 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
39691 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-1501683 usd
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
3176332 usd
CY2024Q2 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-121174 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-1499742 usd
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1797764 usd
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
4734088 usd
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
4446200 usd
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2250000 usd
CY2023Q1 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
226544 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
-1247113 usd
CY2023Q1 us-gaap Cumulative Translation Adjustment Net Of Tax Period Increase Decrease
CumulativeTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease
-9348 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1326889 usd
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8639090 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
90896 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6438180 usd
us-gaap Profit Loss
ProfitLoss
-3001425 usd
us-gaap Profit Loss
ProfitLoss
-3637544 usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
113391 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1371951 usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-51771 usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-2582 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-91219 usd
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-56500 usd
us-gaap Share Based Compensation
ShareBasedCompensation
160865 usd
us-gaap Share Based Compensation
ShareBasedCompensation
-1156217 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-7972 usd
us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-39363 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
753184 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
67338 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-25718 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-58720 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-262821 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-229742 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3783092 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3514003 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
664697 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
4446200 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
2250000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
131142 usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
361706 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5538655 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
4899 usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
14569 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-9670 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-3783092 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
2014981 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4689007 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1178846 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
905915 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3193827 usd
us-gaap Nature Of Operations
NatureOfOperations
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 0.5in; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.</b></span></td> <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NATURE OF OPERATIONS </b></span></td></tr> </table> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Versus Systems Inc. (the Company) was continued under the Business Corporations Act (British Columbia) effective January 2, 2007. The Company’s head office and registered and records office is 1558 West Hastings Street, Vancouver, BC, V6C 3J4, Canada. The Company’s common stock is traded on the NASDAQ under the symbol “VS”. The Company’s Unit A warrants are traded on NASDAQ under “VSSYW”. On November 9, 2022, the Company completed a one-for-15 reverse stock split of the Company’s common shares. On December 28, 2023, the Company completed a one-for-16 reverse stock split of the Company’s common shares. All share and per share data are presented to reflect the reverse share splits on a retroactive basis.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company is engaged in the technology sector and has developed a proprietary prizing and promotions tool allowing game developers and creators of streaming media, live events, broadcast TV, games, apps, and other content to offer real world prizes inside their content. The ability to win prizes drives increased levels of consumer engagement creating an attractive platform for advertisers.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In June 2021, the Company completed its acquisition of multimedia, production, and interactive gaming company Xcite Interactive, a provider of online audience engagement through its owned and operated XEO technology platform. The Company partners with professional sports franchises across Major League Baseball (MLB), National Hockey League (NHL), National Basketball Association (NBA) and the National Football League (NFL) to drive audience engagement.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company is actively pursuing a range of strategic alternatives aimed at maximizing shareholder value and strengthening its market position. We are in the process of evaluating and implementing commercial agreements to expand the distribution of applications that leverage our proprietary technology. These arrangements are intended to enhance market reach, drive user growth, and establish relationships with distribution partners. These collaborations may support technology and development, integrate complementary technologies, and improve our competitive edge.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In parallel, we are exploring various strategic options, including potential acquisitions, mergers, reverse mergers, and the sale of non-core assets. These alternatives would be designed to create synergies, streamline operations, and generate revenue. We are also seeking strategic partnerships and evaluating opportunities for capital raises to support our growth initiatives. Furthermore, the Company is focused on enhancing operational efficiency by optimizing processes and upgrading technology systems to reduce costs and improve profitability. Strengthening our financial health through better cash flow management and prudent financial practices is also a key priority. These comprehensive efforts are aimed at positioning the Company for long-term success and delivering sustainable value to our shareholders.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company is undertaking a strategic transition by shifting its governing jurisdiction from British Columbia to Delaware. This change is expected to better align with our evolving business strategy and deliver several key benefits. Firstly, the transition to Delaware is anticipated to enhance our access to investors and financial institutions within the United States. Delaware’s renowned business-friendly legal environment and proximity to the U.S. Northeast’s economic and financial centers is expected to facilitate easier access to funding, increase our strategic flexibility, and reduce the overall cost of capital. This improved access to funding would be crucial in supporting our future growth initiatives and financing our strategic plans.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Secondly, the move is expected to bolster our ability to execute an acquisitive growth strategy. By operating under Delaware’s well-established corporate laws, we believe that we will be better positioned to use our capital stock as consideration for acquisitions and be able to structure transactions with more legal certainty. This capability will allow us to pursue strategic opportunities more effectively, expand our business portfolio, and achieve our growth objectives through well-structured transactions.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Additionally, the change in jurisdiction will enable us to more effectively focus management efforts on our U.S. and international operations. This realignment would help streamline our governance and operational strategies across different regions, thereby enhancing our ability to manage and optimize each market effectively. Furthermore, the enhanced profile of companies incorporated in Delaware with operations in the U.S. is likely to make the Company more attractive to key employees and executives, aiding in the recruitment and retention of top talent critical for driving innovation and growth.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In conjunction with these changes, the Company is also exploring opportunities to raise capital through its shareholders. Engaging with our shareholder base could provide an additional source of funding that aligns with our strategic goals. Accretive capital raises would support our expansion plans, enable us to capitalize on growth opportunities, and strengthen our financial position.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Overall, the shift to Delaware, combined with the exploration of acquisition opportunities and investor engagement, is part of our broader strategy to enhance operational effectiveness, execute our growth strategy, and maximize shareholder value.</p> <p style="font: 7pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">These condensed interim consolidated financial statements have been prepared on the assumption that the Company will continue as a going concern, meaning it will continue in operation for the foreseeable future and will be able to realize assets and discharge liabilities in the ordinary course of operations. Different bases of measurement may be appropriate if the Company is not expected to continue operations for the foreseeable future. As of June 30, 2024, the Company has not achieved positive cash flow from operations and is not able to finance day to day activities through operations and as such, there is substantial doubt as to the Company’s ability to continue as a going concern. The Company’s continuation as a going concern is dependent upon its ability to attain profitable operations and generate funds therefrom and/or raise equity capital or borrowings sufficient to meet current and future obligations. These condensed interim consolidated financial statements do not include any adjustments as to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These adjustments could be material.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
911775 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
127041 shares
CY2024Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P3Y
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.50 pure
us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><b>Deferred revenue</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Revenue recognition of sales is recorded on a monthly basis upon delivery or as the services are provided. Cash received in advance for services are recorded as deferred revenue based on the proportion of time remaining under the service arrangement as of the reporting date.</p>
CY2024Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
0 usd
CY2024Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
10250 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
8680 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2700 usd
CY2023Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
9542 usd
CY2024Q2 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
8679 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
995921 usd
CY2023 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
222468 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
773453 usd
us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
247 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
773206 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
901948 usd
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
23754 usd
CY2023 us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1
154184 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
771518 usd
us-gaap Adjustment For Amortization
AdjustmentForAmortization
892 usd
us-gaap Accumulated Depreciation Depletion And Amortization Sale Of Property Plant And Equipment1
AccumulatedDepreciationDepletionAndAmortizationSaleOfPropertyPlantAndEquipment1
82 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
772328 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
93973 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1935 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
878 usd
CY2022Q1 us-gaap Assets Net
AssetsNet
4562631 usd
CY2022Q1 us-gaap Other Minority Interests
OtherMinorityInterests
4376337 usd
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
3968332 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19517189 usd
CY2023 us-gaap Additions To Other Assets Amount
AdditionsToOtherAssetsAmount
19413 usd
CY2023 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
-3968332 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
15568270 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
13123825 usd
CY2023 vs Finite Lived Intangible Assets Amortization
FiniteLivedIntangibleAssetsAmortization
2444445 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15568270 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15568270 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6393364 usd
CY2024Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
12655 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
82579 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
10951 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
26348 usd
CY2024Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
23606 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
286427 usd
vs Finance Expense
FinanceExpense
0 usd
CY2023 vs Finance Expense
FinanceExpense
60770 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
2604713 usd
CY2023 us-gaap Temporary Equity Foreign Currency Translation Adjustments
TemporaryEquityForeignCurrencyTranslationAdjustments
-35380 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
2519835 usd
CY2023 vs Cancellation Of Remaining Debt
CancellationOfRemainingDebt
-49498 usd
CY2023 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
989903 shares
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
2.59
CY2023 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
2562660 usd
vs Common Shares Issued And Outstanding Percentage
CommonSharesIssuedAndOutstandingPercentage
0.10 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14238 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
594.08
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
25000 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
14.4
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
10247 shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
392.6
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
28990 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
165.38
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
13860 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
186.49
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15130 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
146.03
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
160865 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1156217 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0393 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0393 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y4M17D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.3265 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.3265 pure
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15130 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
146.03
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M7D
CY2023Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
10938 shares
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
14.4
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
815217 shares
CY2023Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.68
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
881472 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
868010 usd
us-gaap Occupancy Net
OccupancyNet
0 usd
CY2023 us-gaap Occupancy Net
OccupancyNet
64741 usd
CY2024Q2 vs Foreign Currency Risk Percentage
ForeignCurrencyRiskPercentage
0.10 pure
us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
25000 usd
CY2023 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
152500 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
878 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
8672 usd
CY2023Q2 us-gaap Deposits
Deposits
100000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18504 usd
CY2023Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
5700984 usd
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
usd
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.07
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.05
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2506015 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
2506015 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
592896 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
669636 shares
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
usd
us-gaap Cost Of Goods And Services Sold Amortization
CostOfGoodsAndServicesSoldAmortization
usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
usd
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
usd
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
usd
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
usd
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
usd
CY2023 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
usd
us-gaap Additions To Other Assets Amount
AdditionsToOtherAssetsAmount
usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
usd
vs Finite Lived Intangible Assets Amortization
FiniteLivedIntangibleAssetsAmortization
usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
usd
CY2024Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
usd
CY2023Q4 us-gaap Notes Payable
NotesPayable
usd
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
pure
CY2024Q2 us-gaap Restricted Cash
RestrictedCash
usd
CY2024Q2 us-gaap Deposits
Deposits
usd
CY2024Q2 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
usd
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001701963

Files In Submission

Name View Source Status
0001213900-24-068862-index-headers.html Edgar Link pending
0001213900-24-068862-index.html Edgar Link pending
0001213900-24-068862.txt Edgar Link pending
0001213900-24-068862-xbrl.zip Edgar Link pending
ea0210880-10q_versus.htm Edgar Link pending
ea021088001ex31-1_versus.htm Edgar Link pending
ea021088001ex31-2_versus.htm Edgar Link pending
ea021088001ex32-1_versus.htm Edgar Link pending
ea021088001ex32-2_versus.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
image_001.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
ea0210880-10q_versus_htm.xml Edgar Link completed
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vs-20240630.xsd Edgar Link pending
vs-20240630_lab.xml Edgar Link unprocessable
vs-20240630_pre.xml Edgar Link unprocessable
vs-20240630_cal.xml Edgar Link unprocessable
vs-20240630_def.xml Edgar Link unprocessable