Quarterly report [Sections 13 or 15(d)]

Non-Controlling Interest in Versus LLC

v3.26.1
Non-Controlling Interest in Versus LLC
6 Months Ended
Jun. 30, 2026
Non-Controlling Interest In Versus LLC [Abstract]  
NON-CONTROLLING INTEREST IN VERSUS LLC
4. 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 income for Versus LLC for the three-month periods ended June 30, 2026 and 2025 was $668,374 and $1,492,412, respectively. The net income attributable to the non-controlling interest for the three-month periods ended June 30, 2026 and 2025 was $120,976 and $270,126, respectively. The net income (loss) for Versus, LLC for the six-month periods ended June 30, 2026 and 2025 was $(80,220) and $416,551, respectively. The net income (loss) attributable to the non-controlling interest for the six-month periods ended June 30, 2026 and 2025 was $(14,520) and $75,396, respectively.

 

The following table presents summarized financial information before intragroup eliminations for the non-wholly owned subsidiary as of June 30, 2026 and December 31, 2025, respectively.

 

    June 30,
2026
    December 31,
2025
 
    ($)     ($)  
Assets            
Current     3,049,004       1,381,959  
Non-current(1)     1,263,000       609,000  
      4,312,004       1,990,959  
                 
Liabilities                
Current     732,397       101,758  
Non-current(2)     45,877,727       45,877,726  
      46,610,124       45,979,484  
Net liabilities     (42,298,120 )     (43,988,525 )
Non-controlling interest     (8,287,138 )     (8,272,619 )

 

(1) The Company reclassed $609,000 into long-term for the year ended December 31, 2025 attributable to intangible assets.
(2) Non-current liabilities primarily relate to intercompany balances within the consolidated group.