Annual report [Section 13 and 15(d), not S-K Item 405]

Non-Controlling Interest in Versus LLC

v3.26.1
Non-Controlling Interest in Versus LLC
12 Months Ended
Dec. 31, 2025
Non-Controlling Interest In Versus LLC [Abstract]  
NON-CONTROLLING INTEREST IN VERSUS LLC
3. NON-CONTROLLING INTEREST IN VERSUS LLC

 

The Company holds an 81.9% ownership interest in Versus LLC, a privately held limited liability company organized under the laws of the state of Nevada. The Company consolidates Versus LLC as a result of having full control over the voting shares. Versus LLC is a technology company that is developing a business-to-business software platform that allows video game publishers and developers to offer prize-based matches of their games to their players.

 

The net loss for Versus, LLC for the year ended December 31, 2025 and 2024 was $1,943,983 and $2,942,021, respectively. The net income (loss) attributable to the non-controlling interest for the year ended December 31, 2025 and 2024 was $(352,567) and $(532,505), respectively

 

The following table presents summarized financial information before intragroup eliminations for the non-wholly owned subsidiary as of December 31, 2025 and December 31, 2024.

 

    December 31,
2025
    December 31,
2024
 
    ($)     ($)  
Assets            
Current     1,990,959       3,310,563  
Non-current    
-
         
      1,990,959       3,310,563  
                 
Liabilities                
Current     101,758       2,062  
Non-current(1)     45,877,726       45,533,471  
      45,979,484       45,535,533  
Net liabilities     (43,988,525 )     (42,224,970 )
Non-controlling interest     (8,272,619 )     (7,920,052 )

 

(1) Non-current liabilities primarily relate to intercompany balances within the consolidated group.