Versus Systems Stock Price, News & Analysis

Versus Systems (Nasdaq: VS) announced the successful activation of its XEO platform for Finastra during their Global Sales Kick-Off in Miami, FL. This event marked Versus' entry into the Corporate Meeting and Events segment. Over one-third of attendees engaged with the platform, which featured games like Swish basketball and Turbo Trivia. CEO Matthew Pierce highlighted the positive feedback and potential for future activations in this market. Finastra's Digital Events Marketing Manager, Jake Mecimore, also expressed satisfaction with the engagement outcomes.

Versus Systems Inc. (NASDAQ: VS) has expanded its experiential advertising platform through a collaboration with Innovative New Media, launching the Zaxby’s PLAYMUSICITYGP.COM promotion that supports Zaxby’s sponsorship of the Music City Grand Prix IndyCar Race. The promotion offers 70 fans the chance to win exclusive prizes, including tickets and a unique IndyCar ride experience. The Music City GP event is scheduled for August 5-7, 2022, in Nashville. CEO Matthew Pierce expressed excitement about enhancing IndyCar fan experiences through this partnership.

On July 26, 2022, Versus Systems Inc. (NASDAQ: VS) announced that the U.S. Patent and Trademark Office granted U.S. Patent No. 11,376,498, covering innovative methods for managing in-content challenges in multiplayer games. This patent protects various methods for providing rewards based on player performance and eligibility criteria. The technology aims to enhance audience engagement during live events and streaming media. Versus continues to expand its patent portfolio, focusing on interactive prizing and rewards in media.

Versus Systems (NASDAQ: VS) announced a major venture into the Over-the-Top (OTT) streaming media sector, marking a milestone in its growth strategy. The company has secured a multi-year contract to introduce its patented reward-based fan engagement technology to a new OTT sports channel, set to launch in Q4 2022. This partnership aims to enhance viewer experience through interactive content, positioning Versus to capitalize on the rapidly expanding OTT market.

Versus Systems closed a registered direct offering, raising approximately $2.16 million by selling 4,145,000 common shares at $0.52 each. Alongside this, they issued warrants for up to 6,217,500 common shares at the same exercise price, exercisable in six months with a five-and-a-half-year term. The proceeds will support working capital and corporate needs. The offering was conducted under an effective shelf registration statement with the SEC, allowing for future fundraising.

Versus Systems announced a definitive agreement with an institutional investor to sell 4,145,000 common shares at $0.52 each, expected to close around July 18, 2022. The company will also issue warrants for 6,217,500 common shares at the same price, exercisable after six months. The gross proceeds are anticipated to be approximately $2,155,215, aimed at working capital and general corporate purposes. Roth Capital Partners is the exclusive placement agent for this offering, which utilizes a previously filed registration statement with the SEC.

On June 17, 2022, Versus Systems Inc. (Nasdaq: VS) announced receiving a Notification Letter from Nasdaq, indicating non-compliance with the minimum bid price requirement. As of June 14, 2022, the company's shares had not met the required bid price of $1.00 per share for 30 consecutive business days. Versus has until December 12, 2022, to regain compliance by maintaining a bid price of at least $1.00 for 10 consecutive days. The Notification Letter does not currently affect the company's Nasdaq listing or business operations.

Versus Systems Inc. (Nasdaq: VS) has announced a strategic partnership with Innovative Group to enhance client programs using the Versus XEO platform. The collaboration will see Versus support Innovative Group's new division, Innovative New Media, in offering unique experiences powered by the XEO Engagement Platform. This platform is already utilized by professional sports teams across major leagues. The partnership aims to drive awareness and revenue while engaging audiences through gamified rewards and experiences.

Versus Systems Inc. (Nasdaq: VS) hosted an investor webinar on May 16, 2022, to discuss recent operational highlights and growth strategies. Key developments included strategic partnerships with Red Moon Marketing and ENT Marketing to enhance the XEO platform's application across various sectors, such as QSR and Japanese Baseball. The company reported the successful closure of a $7 million public offering, supported by investment from Animoca Brands. Management expressed confidence in expanding partnerships and audience engagement through innovative marketing strategies.