Versus Programs Receives NASDAQ Notification Concerning Minimal Stockholders’ Fairness Deficiency

Article content material

VANCOUVER, British Columbia, Aug. 27, 2024 (GLOBE NEWSWIRE) — Versus Programs, Inc. (NASDAQ: VS) (the “Firm”) pronounces that it has acquired a letter from the itemizing {qualifications} division employees of the NASDAQ Inventory Market (“NASDAQ”), notifying the Firm that the stockholders’ fairness of $1,797,764 as reported within the Firm’s Quarterly Report on Kind 10-Q for the interval ended June 30, 2024 was beneath the minimal stockholders’ fairness of $2,500,000. The minimal stockholders’ fairness of $2,500,000 is required for continued itemizing on the NASDAQ Capital Market as set forth in NASDAQ itemizing rule 5550(b)(1), and the Firm doesn’t meet the alternate options of market worth of listed securities or web earnings from persevering with operations.

Article content material

The Firm has been offered till October 7, 2024, to submit a plan to regain compliance with the minimal stockholders’ fairness normal. If the Firm’s plan to regain compliance is accepted, NASDAQ could grant an extension of as much as 180 calendar days from the date of the notification letter to proof compliance with the minimal stockholders’ fairness normal.

The Firm is growing a plan with choices to extend stockholder fairness and regain compliance, with the aim of submitting the plan with NASDAQ by the said deadline. The Firm will present additional updates as required.

About Versus Programs

Versus Programs, Inc. has developed a proprietary in-game prizing and promotions engine that enables sport builders and publishers to supply real-world rewards inside their video games. Gamers can select from quite a lot of rewards that match their pursuits, together with merchandise, occasions, and digital items. Versus Programs is headquartered in Los Angeles, California.

For extra info, please go to www.versussystems.com.

For media inquiries, please contact:

Article content material

Cody Slach, Gateway Group, Inc.
949-574-3860
IR@versussystems.com or
press@versussystems.com

Ahead-Wanting Statements

This information launch comprises “forward-looking statements”. Statements on this information launch which aren’t purely historic are forward-looking statements and embody any statements concerning beliefs, plans, outlook, expectations or intentions concerning the longer term, together with statements concerning the Firm’s plans to regain compliance. It is very important notice that precise outcomes and the Firm’s precise outcomes may differ materially from these in such forward-looking statements. Precise outcomes may differ from these projected in any forward-looking statements on account of quite a few components. Such components embody, amongst others: uncertainty whether or not the Firm can give you a plan to regain compliance or whether or not a plan, if any, to regain compliance submitted to Nasdaq can be accepted or if accepted, whether or not the Firm will regain compliance with the minimal stockholders fairness rule throughout the timelines required by Nasdaq, failing which, the Firm’s securities can be delisted by Nasdaq; uncertainty whether or not the Firm would attraction any delisting discover or whether or not any such attraction would achieve success, failing which, the Firm’s securities can be delisted by Nasdaq; the danger that delisting of the Firm’s securities could have a fabric hostile impact on the Firm’s share liquidity and buying and selling worth and on the Firm’s capacity to acquire financing and proceed its enterprise; and the danger of modifications in enterprise technique or plans. Readers also needs to consult with the danger disclosures outlined within the Firm’s quarterly studies on Kind 10-Q, the Firm’s annual studies on Kind 10-Okay, and the Firm’s different disclosure paperwork filed from time-to-time with the Securities and Change Fee at www.sec.gov and the Firm’s interim and annual filings and different disclosure paperwork filed in Canada from time-to-time underneath the Firm’s profile on SEDAR+ at https://www.sedarplus.ca.

Article content material