Versus Systems Inc. Quarterly report [Sections 13 or 15(d)]

Share Capital (Tables)

9 Months Ended

Sep. 30, 2025

A continuity schedule of outstanding stock options is as follows:

	Number Outstanding			Weighted Average Exercise Price
				($)
Balance – December 31, 2024		2,555			64.99
Granted		399,078			2.18
Exercised		-			-
Forfeited		(76	)		-
Balance – September 30, 2025		401,577			2.45
Vested and exercisable		264,057			2.58

The Company used the following assumptions in calculating the fair value of stock options for the period ended:

At September 30, 2025, the Company had share purchase warrants outstanding as follows:

Expiration Date	Warrants Outstanding		Exercise Price		Weighted Average Remaining Life
			($)		(years)
January 20, 2026⁽¹⁾		7,030		1,800.00		0.33
February 28, 2027		20,689		460.80		1.32
December 6, 2027		13,781		20.00		2.07
December 9, 2027		9,876		17.60		2.07
January 18, 2028		25,906		124.80		2.33
February 2, 2028		10,938		14.40		2.33
October 17, 2028		543,468		3.68		2.83
October 17, 2028		24,457		4.05		2.83
December 24, 2029		1,077,586		4.00		3.92
		1,733,741		18.71		3.46

⁽¹⁾	Unit A warrant balance is 7,030 as of September 30, 2025.