Versus Systems Inc.

Versus Systems Inc. completed the transactions outlined in its Stock Purchase Agreement with ASPIS Cyber Technologies, Inc. On June 26, 2026, the company issued 1,310,969 shares of its common stock to ASPIS. The shares were issued at a price of $1.29675 per share, resulting in a total consideration of $1,700,000. This issuance was exempt from registration under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D.

Versus Systems Inc. has filed its definitive proxy statement for its Annual Meeting of Shareholders, scheduled to be held virtually on July 16, 2026. Shareholders will vote on the election of four directors and a proposal to adjourn the meeting if necessary to solicit additional proxies. The record date for voting was May 26, 2026, with 4,901,677 shares outstanding. The filing also details executive and director compensation, auditor fees, and significant beneficial ownership stakes.

Versus Systems Inc. reported a significant drop in Q1 2026 revenue to $17,300 from $199,347 year-over-year, leading to substantial doubt about its ability to continue as a going concern. The company also disclosed that its former CFO misappropriated approximately $829,895, with recovery uncertain despite a promissory note. Despite these challenges, Versus Systems reduced its net loss to $(683,200) and generated positive cash flow from operating activities of $143,986. Post-period, the company entered a $1.7 million stock purchase agreement with major shareholder ASPIS.

Versus Systems Inc. received a Nasdaq deficiency letter on April 29, 2026, for failing to maintain the minimum $2,500,000 stockholders' equity, reporting $1,918,303 as of December 31, 2025. The company has until June 13, 2026, to submit a plan to regain compliance. To address this, Versus Systems entered a Stock Purchase Agreement with ASPIS Cyber Technologies, Inc. on April 15, 2026, to sell 1,513,128 shares for $1,700,000, with closing expected by May 14, 2026.

Versus Systems Inc. renewed and expanded its technology partnership with the Texas Rangers, extending a five-year collaboration for its Filter Fan Cam platform through the 2026 MLB season. The agreement includes deploying an upgraded platform at Globe Life Field, featuring a new C++ tracking engine, improved face detection, and reduced latency for enhanced fan engagement. This partnership aims to monetize audience participation and create new sponsorship revenue opportunities for both Versus and the Rangers.

Versus Systems Inc. entered into a Stock Purchase Agreement with ASPIS Cyber Technologies, Inc. to sell common stock for $1,700,000 in cash. The transaction is expected to close by May 14, 2026, with the purchase price per share set at 105% of the preceding day's closing price. This capital infusion is anticipated to help Versus Systems maintain at least $2,500,000 in stockholders' equity through December 31, 2026.

Versus Systems Inc. has filed its annual report on Form 10-K for the fiscal year ended December 31, 2025. The company confirmed its compliance with SEC filing requirements, having submitted all necessary reports and interactive data files during the preceding 12 months. Versus Systems is categorized as a non-accelerated filer, an emerging growth company, and a smaller reporting company.