VS · Nasdaq
Companies at this level ended the following year delisted, bankrupt, restated or silent 9.2% of the time, against 4.0% for companies with a clean record.
Hover or tap a dot to see the filings behind that score.
Versus Systems Inc. (the “Company”) is unable to file its Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”) by the prescribed due date without unreasonable effort or expense for the reasons described below. In the first quarter of 2026, while preparing the Form 10-K and the related audit of the Company’s financial statements for the fiscal year ended December 31, 2025, management determined that improprieties involving the Company’s former Chief Financial Officer had likely occurred. The Audit Committee of the Board of Directors of the Company conducted an internal investigation and has confirmed that a misappropriation of assets had occurred. In the course of the internal investigation, it has also been determined that there were material weaknesses in the Company’s internal control over financial reporting as of December 31, 2025. As a result, the Company expects to report in the Form 10-K that the Company’s internal control over financial reporting was not effective as of December 31, 2025. As such, material weaknesses, which will be discussed more fully in the Form 10-K, are being reviewed and remediated by management. As a result of the additional procedures being performed to validate investigation findings related to the fraudulent activity and finalizing the evaluation of the impact thereof on previously issued financial statements and internal control over financial reporting, the Company requires additional time to prepare and review its financial statements and other disclosures in the Form 10-K. The Company will file the Form 10-K no later than April 15, 2026, the fifteenth calendar day following the prescribed due date, as set forth in Rule 12b-25(b) under the Securities Exchange Act of 1934, as amended
NT 10-K, filed 2026-04-01 · material weakness
Versus Systems Inc. (the “Company”) is unable to file its Annual Report on Form 10-K for the year ended December 31, 2025 (the “Form 10-K”) by the prescribed due date without unreasonable effort or expense for the reasons described below. In the first quarter of 2026, while preparing the Form 10-K and the related audit of the Company’s financial statements for the fiscal year ended December 31, 2025, management determined that improprieties involving the Company’s former Chief Financial Officer had likely occurred. The Audit Committee of the Board of Directors of the Company conducted an internal investigation and has confirmed that a misappropriation of assets had occurred. In the course of the internal investigation, it has also been determined that there were material weaknesses in the Company’s internal control over financial reporting as of December 31, 2025. As a result, the Company expects to report in the Form 10-K that the Company’s internal control over financial reporting was not effective as of December 31, 2025. As such, material weaknesses, which will be discussed more fully in the Form 10-K, are being reviewed and remediated by management. As a result of the additional procedures being performed to validate investigation findings related to the fraudulent activity and finalizing the evaluation of the impact thereof on previously issued financial statements and internal control over financial reporting, the Company requires additional time to prepare and review its financial statements and other disclosures in the Form 10-K. The Company will file the Form 10-K no later than April 15, 2026, the fifteenth calendar day following the prescribed due date, as set forth in Rule 12b-25(b) under the Securities Exchange Act of 1934, as amended
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
See the ledger → Every company the score flagged that later failed, what it told the SEC on the way down, and the ones it missed.Every item above is a filing this company
made with the SEC.
Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
investment advice