Versus Systems Inc.
AI Executive Summary
AI-powered analysis of 10-Q filing content
Versus Systems Inc. shows severe financial distress with 91% revenue decline, minimal $17K quarterly revenue, operating losses of $819K, and cash burn reducing cash to only $423K. The company has accumulated deficits of $142M with negative non-controlling interest indicating subsidiary losses exceed their book value.
Red Flags Detected (7)
Revenue collapsed 91% from $199K to $17K quarter-over-quarter
Cash decreased 20% to only $423K with ongoing $819K quarterly losses
Accounts receivable dropped 77% from $836K to $193K indicating collection issues
4 more red flags detected
Key Takeaways
Company generating minimal $17K quarterly revenue against $836K operating expenses
Cash runway critically short with current burn rate unsustainable
2 more takeaways
Filing Overview
What This Means
High Risk Filing: This company is showing signs of financial stress or significant operational challenges.
Deteriorating Trend: Conditions are worsening compared to previous filings. This may create opportunities for service providers.
Quarterly Report: Interim filing with unaudited financial data for the quarter.