Verses AI Inc. (VRSSF)
Verses AI, Inc. is a company specializing in cognitive computing, dedicated to providing innovative technological solutions. Its operations extend across several key geographical regions, including the United States, Canada, and the Netherlands. The enterprise was co-founded by Gabriel Joseph Bradley Rene and Dan Raymond Mapes on November 19, 2020, and its main office is situated in New Westminster, Canada.
Sector: Services-Computer Programming, Data Processing, Etc.
Industry: Software - Infrastructure
Verses Ai Inc.
OTC:VRSSFTechnology · Software - Infrastructure
$0.0000
Mkt Cap$14
Float6.55M
O/S14.31M
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$718K
Net Income-$16.31M
Total Assets$2.29M
Free Cash Flow-$12.85M
Debt & Equity
Total Debt$1.97M
Total Equity-$13.2M
Shares Outstanding
Short Interest
Split History3 splits · 3 reverse
2-year cumulative
1:27
Nasdaq bars a compliance period at 1:250
- 1:3Reverse splitJun 23, 20253 shares → 1
- 1:9Reverse splitMar 27, 20259 shares → 1
- 1:16Reverse splitDec 15, 202016 shares → 1
Balance Sheet Details
Assets$2.29M
Liabilities$15.49M
Accounts Receivable$926K
Accounts Payable$3.14M
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$609K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
| Revenue | $718K | $155K | $1.97M | $1.61M | $2.77M | $102K |
| YoY Growth | 363.2% | -92.1% | 22.5% | -42.1% | 2613.0% | - |
| Cost of Revenue | $371K | $632K | $1.7M | $1.14M | $2.38M | $698K |
| Gross Profit | $347K | -$477K | $268K | $470K | $390K | -$596K |
| Gross Margin | 48.3% | -307.5% | 13.6% | 29.3% | 14.1% | -582.6% |
| Research and Development | $6K | $15.14M | $12.02M | $5.88M | $0 | $0 |
| Selling, General, and Administrative | $16.54M | $21.42M | $21.1M | $11.57M | $4.78M | $1.97M |
| Other | $0 | $5.03M | $7.28M | $2.37M | -$42K | $0 |
| Total Operating Expenses | $16.55M | $41.59M | $40.41M | $19.81M | $4.74M | $1.97M |
| Operating Income (EBIT) | -$16.2M | -$42.07M | -$40.14M | -$17.92M | -$4.35M | -$2.57M |
| Operating Margin | -2256.9% | -27139.9% | -2041.0% | -1116.4% | -156.9% | -2509.6% |
| Interest Expense | $0 | $1.95M | $552K | $132K | $161K | $313K |
| Interest Income | $0 | $119K | $240K | $19K | $16K | $0 |
| Other Income (Expense) | -$102K | -$926K | -$11.95M | -$1.53M | -$4.53M | -$93K |
| Income Before Tax (EBT) | -$16.31M | -$42.99M | -$52.09M | -$19.45M | -$8.88M | -$2.66M |
| Income Tax Expense | $0 | $0 | $3K | $6K | $2K | $0 |
| Net Income | -$16.31M | -$42.99M | -$52.09M | -$19.46M | -$8.88M | -$2.66M |
| Net Income Margin | -2271.0% | -27737.2% | -2648.7% | -1212.3% | -320.2% | -2601.0% |
| Supplementary Data | ||||||
| EPS | -9.36 | -16.47 | -14.57 | -0.17 | -0.09 | -0.03 |
| Diluted EPS | -9.36 | -16.47 | -14.57 | -0.17 | -0.09 | -0.03 |
| Weighted Average OS | 11.25M | 2.61M | 3.58M | 112.34M | 102.88M | 102.88M |
| EBITDA | -$16.2M | -$40.87M | -$32.9M | -$19.08M | -$3.46M | $2.44M |
| EBITDA Margin | -2256.9% | -26365.7% | -1672.7% | -1189.0% | -124.6% | 2385.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $68K | $4.82M | $893K | $4.4M | $6.37M | $871K |
| Short-Term Investments | $0 | $0 | $0 | $60K | $78K | $0 |
| Cash and Short-Term Investments | $68K | $4.82M | $893K | $4.4M | $6.37M | $871K |
| Accounts Receivable | $926K | $605K | $1.73M | $2.46M | $1.76M | $18K |
| Inventory | $0 | $7K | $0 | -$416.5B | $0 | $0 |
| Other Current Assets | $1.11M | $119K | $81K | $416.5M | $94K | $20K |
| Total Current Assets | $2.1M | $6.18M | $3.5M | $8.3M | $8.22M | $909K |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $0 | $125K | $267K | $344K | $452K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $609K | $0 | $0 | $1.74T | $0 | $0 |
| Long-Term Investments | $70K | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | -$489K | $68K | $65K | -$1.74B | $355K | $0 |
| Total Long-Term Assets | $191K | $193K | $332K | $344K | $807K | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $2.29M | $6.38M | $3.83M | $8.64M | $9.03M | $909K |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $3.14M | $2.04M | $2.78M | $1.18M | $540K | $888K |
| Short-Term Debt | $1.83M | $0 | $2M | $4.91M | $115K | $1.59M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $168K | $0 | $74K | $326K | $0 |
| Other Current Liabilities | $10.37M | $12.86M | $10.5M | $1.32M | $885K | $3.74M |
| Total Current Liabilities | $15.35M | $15.11M | $15.36M | $7.66M | $2.06M | $6.5M |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $141K | $139K | $141K | $143K | $251K | $548K |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $141K | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $141K | $139K | $141K | $143K | $251K | $548K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $15.49M | $15.25M | $15.5M | $7.8M | $2.31M | $7.05M |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $118.58M | $105.48M | $62.47M | $30.26M | $20.38M | $100 |
| Retained Earnings | -$154.55M | -$129.56M | -$86.57M | -$34.48M | -$15.02M | -$6.14M |
| Comprehensive Income & Other | -$601K | -$675K | -$921K | -$637K | -$234K | $0 |
| Other Stockholders' Equity | $22.77M | $15.22M | $12.42M | $5.05M | $1.35M | $0 |
| Total Equity | -$13.2M | -$8.87M | -$11.68M | $841K | $6.72M | -$6.14M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $2.29M | $6.38M | $3.83M | $8.64M | $9.03M | $909K |
| Supplementary Data | ||||||
| Total Debt | $1.97M | $139K | $2.14M | $5.16M | $366K | $2.14M |
| Net Debt | $1.91M | -$4.68M | $1.25M | $760K | -$6M | $1.27M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 |
| Operating Activities | ||||||
| Net Income | $27.99M | -$42.99M | -$52.09M | -$19.46M | -$8.88M | -$2.66M |
| Depreciation & Amortization | -$46K | $172K | $262K | $236K | $29K | $2.44M |
| Deferred Income Tax | $0 | $0 | $0 | $24K | $0 | $0 |
| Stock-Based Compensation | -$3.86M | $7.73M | $7.91M | $3.08M | $0 | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | $96K | -$137K | -$137K | $108K | -$324K | -$19K |
| Inventory | $0 | $0 | $0 | $310.39B | $201K | $0 |
| Accounts Payable | -$24K | $0 | $0 | -$310.39B | -$201K | $492K |
| Other Working Capital | -$702K | -$572K | $2.12M | -$1.53M | -$2.2M | $897K |
| Total Working Capital Change | -$605K | -$709K | $1.98M | -$1.42M | -$2.52M | $1.37M |
| Other Non-Cash Items | -$36.37M | $2.71M | $12.35M | $152K | $5.02M | -$1.84M |
| Net Cash from Operating | -$12.89M | -$33.09M | -$29.59M | -$17.39M | -$6.36M | -$692K |
| Investing Activities | ||||||
| Capital Expenditures | $40K | -$31K | -$185K | -$148K | -$252K | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $1.3M | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$89K | -$480K | -$1.07M | $0 | $0 | $0 |
| Net Cash from Investing | -$49K | -$510K | -$1.26M | -$148K | $1.04M | $0 |
| Financing Activities | ||||||
| Debt Repaid | - | -$7.99M | $122K | -$5.41M | $2.16M | $218K |
| Common Stock Issuance | -$14.78M | $32.22M | $27.36M | $10.24M | $12.83M | $1.82M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $9.84M | -$2.56M | -$1.7M | $229K | $473K | -$475 |
| Net Cash from Financing | $9.84M | $37.66M | $27.54M | $15.87M | $11.14M | $1.6M |
| Forex Effect | -$83K | -$133K | -$194K | -$402K | -$234K | $0 |
| Net Change in Cash | $0 | $3.92M | -$3.5M | -$2.07M | $5.59M | $912K |
| Supplementary Data | ||||||
| Operating Cash Flow | -$12.89M | -$33.09M | -$29.59M | -$17.39M | -$6.36M | -$692K |
| Capital Expenditure | $40K | -$31K | -$185K | -$148K | -$252K | $0 |
| Free Cash Flow | -$12.85M | -$33.12M | -$29.78M | -$17.54M | -$6.61M | -$692K |
| Cash at Beginning | $0 | $893K | $4.4M | $6.46M | $871K | -$41K |
| Cash at End | $0 | $4.82M | $893K | $4.4M | $6.46M | $871K |