Quarterly report [Sections 13 or 15(d)]

Non-Controlling Interest in Versus LLC

v3.25.2
Non-Controlling Interest in Versus LLC
6 Months Ended
Jun. 30, 2025
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 (loss) for Versus, LLC for the three-month periods ended June 30, 2025 and 2024 was $1,492,412 and $(862,967), respectively. The net income (loss) attributable to the non-controlling interest for the three month periods ended June 30, 2025 and 2024 was $270,126 and $(156,197), respectively. The net income (loss) for Versus, LLC for the six month periods ended June 30, 2025 and 2024 was $416,551 and $(1,820,382), respectively. The net income (loss) attributable to the non-controlling interest for the six month periods ended June 30, 2025 and 2024 was $75,396 and $(329,489), respectively.

 

The following table presents summarized financial information before intragroup eliminations for the non-wholly owned subsidiary as of June 30, 2025 and December 31, 2024, respectively.

 

    June 30,
2025
    December 31,
2024
 
Non-controlling interest percentage   18.1%     18.1%  
    ($)     ($)  
Assets            
Current     3,759,869       3,310,563  
Non-current    
-
     
-
 
      3,759,869       3,310,563  
                 
Liabilities                
Current     34,187       2,062  
Non-current     45,877,726       45,533,471  
      45,911,913       45,535,533  
Net liabilities     (42,152,044 )     (42,224,970 )
Non-controlling interest     (7,844,657 )     (7,920,052 )