Post-effective amendment to a registration statement that is not immediately effective upon filing

Summary of Significant Accounting Policies (Tables)

v3.24.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]    
Schedule of Subsidiary The carrying amount of non-controlling interest is adjusted to reflect the change in the non-controlling interest’s relative interest in the subsidiary, and the difference between the adjustment to the carrying amount of non-controlling interests and the Company’s share of proceeds received and/or consideration paid is recognized directly in equity and attributed to owners of the Company.

Name of Subsidiary

 

Place of Incorporation

 

Proportion of
Ownership
Interest

 

Principal Activity

Versus Systems (Holdco) Inc.

 

United States of America

 

81.9

%

 

Holding Company

Versus LLC

 

United States of America

 

81.9

%

 

Technology Company

Xcite Interactive, Inc.

 

United States of America

 

100.0

%

 

Technology Company

Name of Subsidiary

 

Place of Incorporation

 

Proportion of
Ownership
Interest

 

Principal Activity

Versus Systems (Holdco) Inc.

 

United States of America

 

81.9

%

 

Holding Company

Versus Systems UK, Ltd.

 

United Kingdom

 

81.9

%

 

Sales Company

Versus LLC

 

United States of America

 

81.9

%

 

Technology Company

Xcite Interactive, Inc.

 

United States of America

 

100.0

%

 

Technology Company

Schedule of Property and Equipment is Recorded at Cost Less Accumulated Amortization and Any Impairments

Property and equipment is recorded at cost less accumulated amortization and any impairments. Depreciation is calculated based on the estimated residual value and estimated economic life of the specific assets using the straight-line method over the period indicated below:

Asset

 

Rate

Computers

 

Straight line, 3 years

Right of use assets

 

Shorter of useful life or lease term

Property and equipment is recorded at cost less accumulated amortization and any impairments. Amortization is calculated based on the estimated residual value and estimated economic life of the specific assets using the straight-line method over the period indicated below:

Asset

 

Rate

Computers

 

Straight line, 3 years

Right of use assets

 

Shorter of useful life or lease term