Verses AI Inc (QB) (VRSSF) News

Everything that you're saying is hypothetical! Think about it, the "$350M investment round" was likely written into the G42 debenture agreement as a way to dangle the carrot, and it will probably never happen!! Filthy Verses and G42 putting that in there just ensures Verses can keep selling shares, and G42 can dump their shares for profit on the people who believe that will actually happen!!!

Hear everything you’re saying and one of 2 outcomes will occur here. Major success or failure.

Execs in small tech companies get a pass bc that is just how tech goes, zuck, gates etc… However, they keep talking about all these things they’re going to do. When I researched and spoke to mgmt back in Nov I believed they had something special. I don’t believe that anymore. I’ve pretty much written this off as a $2k lottery ticket at this point

And of that potential $350 million,G42 is only being allowed to invest $90 million,so who will be fronting the other $260 million[or more]in that PP?
Management from Verses,their engineers,and others associated with the company sure are keeping tabs and liking posts of a who's who of what you would think would be competitors on LinkedIn,but who could be part of their Beta program,because Verses is telling no one who is in that program.

A very important aspect of the potential $350 million financing round that seems to be overlooked completely is,how did they come up with the $3.5 billion valuation?
This isn't just decided by the company or an investor out of thin air.A valuation would have been done by financial analysts based on the projected future revenue and the space they are in.In the past Gabriel Rene has insinuated that by 2025 they would be seeing $300-500 million in revenue coming in.
The analysts coming up with the $3.5 billion valuation would have needed to have some sort of actual proof the revenues could potentially be in that range before they could come up to their Post Money Valuation of $3.5 billion.The big investors putting up the actual $350 million want proof.Their money isn't chickefeed.
Valuations,and/or stock price would typically be at 10x-12x revenue.So the Private Placement of $350 million would be in line with a projected $300-500 million revenue stream that Rene talked about,once Verses is in production mode and deals have been signed.And 10x that is $3.5 billion.And Rene just saying so wouldn't be proof.He would have shown them the proof.
These are analyst numbers....So people should consider this before they talk themselves into selling this stock because of bullboard banter mostly filled by daytraders who are addicted to moving money into and out of stocks,losing most of it over time,who get their highs by the action and thrill of going to new bullboards and discussing their new target,whining,complaining,high if their up a few cents,dejected if their down a few cents,then move on to their next thrilling stock...This is addiction...And every single addict in life loses.

Many of the engineers with Verses are following different entities on LinkedIn,imo,because there are a lot of people/companies using Genius on different products and are expressing their opinions on how they are progressing and seeing.
It would be a serious mistake to think nothing is happening with the beta program and everything else Verses is putting in place.

If anybody thinks there isn't much going on,remember there were some 3700 entities that applied for the beta program.We only know very few of the companies,individuals,entities that applied.
Dan Mapes seems to have fallen off a cliff,but if you follow him on LinkedIn,you would see that he has been following a lot of people working on Gaussian Splatting.Why would he be so focused on this topic?
https://arxiv.org/html/2410.03592v1

When I say that I half expect Karl Friston to move on, I would apply that other employees as well.

The company is literally having to raise enough money to fund operations every quarter, and its unlikely that they can continue to raise such money without having better plans in place to making revenues.

Microsoft shares traded under $2.00 for most of 1994.Market cap means nothing.Outstanding shares at the time was already over a billion.Outstanding shares today is between 7-9 billion.

Actually its the share price that matters very little in the scheme of things, because if you're diluting shareholders at a valuation of two billion dollars, that's a mountain of a difference than diluting shareholders at 100M or less, as you get very little $$ while having to add tens, if not hundreds of millions in shares outstanding. Unlike Verses, Microsoft had an actual product, and so diluting shareholders heavily back then was worth it for investors that held on. If Verses has to continue diluting shareholders at current and lower market caps, they'll easily end up with billions of shares outstanding, and relatively early investors would need billions in market cap just to recoup their losses.

Sorry, but comparing Verses to an early Microsoft is a real joke at this point. I keep checking the company website, which has been very slow for the past six months or so btw, to see if Karl Friston is even still listed as working for the company. I'm half expecting at this point that he'll move on to better things, though I'm sure he gets paid rather well for the time he puts in remotely.

The CEO feigned a relationship with OpenAI by posting on X:

"Maybe I can comment by the end of the month 🍓🦋🙊" ...

... Company then dilutes 7 million shares as the price rises by 30% (sure that likely included insider selling) ...

Then, after being asked what that means, he followed that post with: "you want my comment, Strawberry doesn't use Active Inference, I'll see you on the field, that's my comment"

If this doesn't tell you that this guy is a fraud, then you're not paying close enough attention. Make an inference.

Microsoft shares traded under $2.00 for most of 1994.Market cap means nothing.Outstanding shares at the time was already over a billion.Outstanding shares today is between 7-9 billion.
And the people sweating over lack of MNIST benchmark results have to understand that these tests have to be done by an outside source.Completely objective.They have to take the time to train the model before they they put it up against the test benchmarks.
Verses is not the only company training for benchmarks.And they have 3 to do.The stock price will do what it will do until it is time to take the next step.Same as MS,or Google or Apple or any of the others when they first began.
The thing with the other three is computers were a brand new fad back then when all computer stocks were going crazy,just like the MJ craze,when all the MJ stocks ran for no reason.
Verses has to prove itself in a competitive environment.When they do,they will be the first.They are getting closer every day.

That dudes comment is the most idiotic thing I have ever read. Microsoft MARKET CAP in December 1987 (when 2.0 was released) was $1.4 billion,

Who really cares about the stock split adjusted price wound be. VERS is just a pump with only some fluff product. It will not change the world. Stock price sucks for a reason. Enjoy.

In context, Microsoft never traded at .25 cents. Sure if you split adjust these things you could probably say the same thing for any Fanng stock (as well as Tesla)

Microsoft stock price when Windows 2.0 came out the stock price was $0.32 when adjusted for rights shares,bonus shares,stock splits etc...And it was generally considered a work in progress.
In 1996,when announced the Linux operating system,the adjusted stock price was $0.25.
When the beta version of Android was released by Google,it took 10 months before the commercial version was released for the public.
All of this should put Verses in perspective.They are exactly where all the other major operating systems and companies owning them were in their build up to release.

Most stocks revolving around crypto and marijuana startups were nothing but scams.

They definitely aren't out of the "prove it" phase, but they're likely done with spending millions upon millions in promoting their penny stock as the next big thing in AI.

It turned out to be a complete waste of money.

Agreed. They're all over the place in what they're trying to accomplish, and it hasn't amounted to anything thus far.

I thought that the pharma contract would amount to something, as would the partnership and testing with Blue Yonder, but nothing thus far.

Given their expenses and cash burn rate each quarter, they really needed something to pan out on one of the fronts.

I have seen soooo many companies like this just struggle in their buildup like the gambling stocks,Crypto stocks,IT/Computer stocks in the 90s,marijuana stocks 10 years ago.The smalltime investors like those here would just whine about the losses they were taking every day.
Then the first big contracts showed up,a huge company would buy a piece for 10s of millions,and then the company took off and the stock price went parabolic.But it only took off because it was READY to take off.These buildups take a long time.Verses is almost there.The company and industry looks at it in terms of months and years,where smalltime investors look at it in terms of minutes,hours and days.

Some people seem to think Verses is out of the 'Prove it' stage.They are not.A beta program is when they are trying it out on the public,or in this case the business world,to see if it works on an every day basis.
They are about to try and 'Prove it' is better and faster and cheaper than other AI by going up against the same Benchmarks every other AI went up against.
They are in their first 'Experiment' in Abu Dhabi to try and 'Prove it' can work in the real world where everything else is moving at the same time.
These are the last stages of the 'Prove it' period,but this is trading at .46 because we don't have millions of users or even any contracts with big companies for our product.
Until this gets through this 3-4 month period,you can whine all you want about the company and Gabriel Rene,and the shorts,and other posters,but it hasn't proven itself to the business community,or the AI world yet.
This is a gamble for every investor,the insiders too.Nothing is guaranteed.But,based on the IEEE,Gartner,G42,Analog,many names in the AI space,the odds are good that at some point soon,a big turn around should come.But,ONLY after it proves itself.
Ask yourself this.If huge companies like MS,Google,Apple etc had spent 100s of billions on LLMs and lost billions on them already,don't you think they'd have to see absolute proof something like Genius has discovered the real AGI,before they abandon the other models,or at least reverse course and look to add something like Genius to the mix to finally achieve their goal instead of spending billions more on outdated models?
This is worth .46 because it is still an idea.But,it is an idea Sam Altman was terrified to give any publicity to.Because if it proves itself,it might just make models like Open AI obsolete in a hurry.

They should try to hone in on 1 thing do that well, then expand. These capital raises are ridiculous, and every time they try to do some webinar saying, now we’re working on this. Very scatter shot approach.

They don't even have any employees working in Abu Dhabi, and Analog is focused on VR/AR applications.

I'll be surprised if anything comes of it.

talk to yourself much

Imo,there is no way they would have started the Abu Dhabi experiment if Genius wasn't a major success in the warehousing beta testing.Iaf it wasn't working there,there would be a delay in auditioning Genius in a highly challenging public environment,as they corrected any problems with Genius,or it wasn't working at all.
We haven't seen any of that,and the Benchmark Tests are just about ready to roll.
Just the fact they are comfortable starting in Abu Dhabi tells me everything is right on schedule and the Benchmarks will easily be reached just as they outlined,98% or greater accuracy,with 50% or greater efficiency on 90% less data.
They wouldn't have thrown those numbers out there already unless they had already tested it themselves and achieved these targets,otherwise they'd have been very conservative and then pumped the barely better usage numbers as the Holy Grail like all the LLMs do.
I wonder if they start releasing the Beta testers results right after the Benchmark results and really pound the success into the public eye,and then have Abu Dhabi on the go to put the finishing touches on the complete success of Genius before they announce production plans?

Some people seem to be concerned with the fact that Genius may be in beta through to the 2nd Quarter next year.But,often,software remains in beta in perpetuity so they can continue getting feedback even while the product is being sold to the public.
From what I've been able to research,they are in the same timeframe as Open Ai with their ChatGPT release and most other products that took years to develop.
Imo,they are just about ready to unleash Genius to the public.This fall and early winter is the final timeframe needed.

According to Denise Holt's latest article,the UAE wants the whole city of Abu Dahbi to become a Smart City.The taxi contract is just the first one.If that works,then they move on.
In the beta testing,they are proving Genius works in a basically stationary environment in warehouses.Now,Abu Dahbi is the big test,where all the parts are moving at every moment.If they prove they can do it,they would be the only ones who have been able to accomplish anything like it,and it won't be with 1000s or even 100s of IT people running,it will basically run itself,on laptop computers,without the need for $100 billion LLMs that suck up water and power by the bucketload.
Imo,G42 and Microsoft,using Analog,is giving Verses their chance to prove their claims that they have achieved AGI.
But,why would you invest 100s of millions into something no one believes can be achieved any time soon?That's why I think no one has jumped all in on Verses yet.
This is their biggest test yet.If the taxi test works in a moving environment,then they start to prove to everyone they have something truly unique.
Maybe the whole city is the test,but maybe it's the taxis,and then the rest of a major contract comes if they prove that out.
Google tried something like this and failed miserably a few years back.I think we may be on the cusp of something truly earth shattering if they are successful with Abu Dahbi.Jmo

100%

💯

I used to have similar positive thoughts on such things as being possible, but I think reality finally sets in when you start to see the company do one lousy financing round after another, while companies like Microsoft, G42, and others sit by and watch as the company struggles to get by, and the stocks continue to crater.

I just don't see them as looking at Verses as a serious answer to anything at this point or even in the near future, including the spatial web. If they did, I think we would have seen some sort of traction in the markets by now, and more importantly, a real infusion of $$$$.

In the last corporate update,Gabriel Rene said that the Benchmarks were just one of the criteria for the $350 million investment by G42.Just wondering if the success of this project with Analog would be the second one.
G42 has the building of smart cities as a big part of their business model.Verses has shown they can make difficult schedules with Genius,and they are in the process of proving they can use it with success in warehouse planning,which can be difficult.
Maybe proving it can work in real world city environments is the final benchmark.
Sure is funny that On January 18,Analog is launched at the AI House in Davos and the same day Verses teams up with them to turn cities into smart cities.Then,by March Kipman is an advisor to Verses.
What if Microsoft created Analog to advance what Verses was claiming they could do with Genius?
G42 has had many meetings with the Biden Administration on the safety of AI and separating themselves from China,and Biden was the one who got Microsoft to invest $1.5 billion with G42 to cement their partnership with the US.A big part of the agenda of the WEF and the proposed One World Order is smart cities throughout the West.
Is Genius auditioning for Analog or was Analog created to test the real world capability of Genius and whether the Spacial Web has actually been created?If so,it is a step many thought wouldn't be ready for 10 years or more,so Verses has to prove itself.

you tell that bitch gurl friend

"The registering of the Shelf Offering is a move often seen for companies just before they uplist"

^ LOL 😂 Do you know how many companies file a shelf offering and DON'T uplist? How do you know it's not a way for them to surreptitiously dilute shareholder?? Sneaky dilution seems MUCH more likely since Verses doesn't have the ability to uplist because they are nowhere near the minimum qualifications.

It appears that Verses is getting ready for an uplist at some point...The registering of the Shelf Offering is a move often seen for companies just before they uplist.
LWLG was one such company.In 2021 they filed a Shelf and in connection with an uplisting to the NASDAQ.
GAME and MIGI are others.
The ArcStone-Kingswood Summit 2024 just attended by and presented at by Verses AI was a conference for companies looking at uplisting,cross listing etc,so the dots are connecting.

One lawsuit judgment has already been entered against Verses and Rene for unjust enrichment. So I wouldn't be so quick to assume "bad employees are suing the company". It seems like you're trying to obfuscate the truth, or maybe you just have "press secretary" motivated reasoning, relative to your own confirmation bias, in your (lying brain) cerebral cortex. Just bc you want something to be true, doesn't make it so.

Generally legal counsel looks at those lawsuits and makes a judgement on whether or not their is likely going to be an unfavorable outcome. The fact that is being reported in the financial statements should give you some pause. Aka there’s a better than 0 chance this ends badly

This was from the web page of the ArcStone-Kingswood Growth Summit 2024 attended and presented at yesterday by Verses AI...Doesn't mean anything but found it interesting...Also that they set up the PP and Shelf just before attending...Appears to me they worked with ArcStone before they went to put everything in place.Jmo

Why This Summit is a Must-Attend
This premier event is a must-attend for corporate issuers looking to navigate the complexities of American and Canadian tier 1 exchanges. Our summit offers unparalleled access to insightful sessions and expert-led panel discussions that explore all aspects of listing, cross-listing, and uplisting processes. Attendees will gain invaluable knowledge from industry leaders, network with key stakeholders, and discover strategic insights to enhance their market presence. Investing in this summit means investing in your company’s future success on the global stage. Don’t miss this opportunity to elevate your business.

I wouldn't worry much about a frivolous lawsuit like that.Every company has to deal with workers who never show up,try and bilk them out of health insurance etc.In unionized companies,the unions have to try and protect lazy people and can sometimes come to some sort of agreement with the company if they take it far enough.
This person most likely deserved to be canned,but now is broke so they'll try their luck in a lawsuit.Either the company makes a deal to make it go away at a few weeks pay,or they make the plaintiff drag it into court and see if the lawyer says the hell with it.

I don't know, but the possibility of an M&A did come to mind. Not sure what would fit, in that sense.

Either way, I find it very odd that they would need funding after funding, when they supposedly had a 350M funding lined up with G42 that was also supposed to amount to a much higher valuation. All of these other funding options are just killing the shareholders valuation.

In the most recent filings with the SEC today, I found page 41 to be intriguing, as it appears that a former employee of the company is seeking significant damages.

Wonder what's coming up that they do a $100 million shelf 4 days after setting up a $10 million Life PP,which will likely be oversubscribed?And the 1st tranche comes on the day of their presentation at the ArcStone-Kingsway summit.
The Shelf would have been arranged under the guidance of Arcstone-Kingsway.
So what is the plan?Acquisition/merger to drive up the stock price?Something else is coming.

They didn't mention anything about allocation for contracts, in the filing with the SEDAR; if they did I missed it. A chunk of its intended for the benchmarks, which have already been delayed and taking forever. Roughly 10% of the amount is allocated to the two co-founders of the company.

As for Intermap, based on their market cap, I'm assuming that the hundreds of millions in expected revenues from InsitePro never amounted to anything; kind of like those monster mapping service contracts from years back expected to have huge payouts.

I can only assume that because they're seeing more contracts in the present, that there's a likely need for hardware upgrades and possibly even additions to the fleet. I'm not an aircraft expert, but I know that they're not cheap to maintain and operate.

As for their CEO, I know there are plenty of investors that have had little use for him over the years.... assuming its the same guy.

The story is great, the results have not been (considering the cash burn & decisions made)

DSHJDHS...As Gabe said,"Hold onto your hats!"

the final two sets of benchmarks will a profound effect on the AI landscape.Here is why..

1-https://www.windowscentral.com/software-apps/openai-ceo-sam-altman-admitted-gpt-4-kind-of-sucks-and-now-we-learn-the-ai-model-consumes-up-to-3-water-bottles-to-generate-a-mere-100-words
2-https://oilprice.com/Alternative-Energy/Nuclear-Power/Three-Mile-Island-Nuke-to-Reopen-with-Microsoft-Contract.html

They will be presenting at the Arcstone-Kingswood conference tomorrow.This PP will be oversubsrcibed,possibly up to $12 million.It should be announced in the next two weeks.
They will be using the money for the execution of contracts,of which they have said will be a string of,and working capital for that execution.
Intermap went through this exact same scenario when they started getting their Indonesian and US Air Force contracts.
The stock will rebound all the way to at least $1.20 because that's where the newest warrants hit,just as Intermap's stock did.
Gabriel Rene will most likely come out with another Quarterly interview in the next couple of weeks to explain all that is happening.

its like magical poo

I fell into yet another trap. PENNY stock BS.

Check out the 20:30 mark in this video, and then 52:30. They were claiming they had the next big thing in AI within weeks away from being released into BETA last summer, and showing investors slides of ChatGPT and other big chatboxes and their quick rise of massive numbers of subscribers, to try and entice investors into believing they didn't just have a product, but the next big thing to compare to these other names. What a joke.

But hey, at least the Co-founders and the rest of the staff get paid, while not one of them bothers to mess with insider purchases of their penny stock.

Shareholders have always taken a back seat with this company, and I don't see that changing anytime soon.

Well the good news, is that they've cut way back on the promotional BS, as they simply don't have the funds for it.

It used to be where they might have six or more months worth of financing most times, but not anymore. Its now quarter to quarter, and apparently the hype around G42 and its desire to fund operations while taking a portion of the company at a much higher valuation was just that. Now they're having to rely on LIFE offerings of a penny stock that's about to head much lower unless they add meaningful revenues, which is highly doubtful. These LIFE offerings allow Canadian entities to have stock offerings which have no holding periods, and my interpretation is that its a potential form of death spiral financing.

So why didn’t they stay private? I don’t buy the they wanted to give the avg person a chance. Also paying stock promoters looks really bad too.

Oh and while we're talking about that wonderful filing, I can't help but point out that they list all funding costs as being "compromised", as opposed to comprised. How ironic, wouldn't you say?

Compromised of costs from the research and development team to reach the standard of 98% accurate handwriting
recognition from a standard set of handwriting samples. The plan is to achieve 98% or greater accuracy in this standard
test, but do so with 50% or greater efficiency (measured in power consumption, processors used, and time to complete)
than the current next best alternative.
(2) Compromised of costs from the research and development team to reach the industry test for AI to demonstrate
learning capabilities. This benchmark test demonstrates how quickly an AI system can learn to play the original 26 Atari
games.
(3) Compromised of costs of the engineering team to reach additional milestone releases for the Genius Beta program as
new features and capabilities are added and the Beta program expands, and cost of engaging additional support staff
in connection with new curated commercial projects.
(4) Compromised of development costs associated with the effort to make the Genius product publicly accessible. This will
require operations infrastructure, support staff, and customer service level agreements; and costs associated with
integrating the results of research milestones into Genius.
(5) Compromised of the cost to make the Genius Agents and an agent framework that integrates agents from VERSES and
from VERSES’ partners that can be used to solve specific customer problems.
(6) Compromised of salaries and related costs for the sales team and consultants to support sales of the Genius strategy.
(7) Compromised of costs of financial advisors ($135,630), third party marketing strategy teams and investor relations
($202,370).
(8) Compromised of salaries and related costs for the CEO and President ($1,035,976), CFO ($388,884), accounting team
($501,086), Board of Directors ($324,324), human resources team ($253,220), IT team ($257,096), internal counsel
($386,781), external counsel ($643,243), software subscriptions ($202,703), travel expenses ($182,432), D&O insurance
($559,111), stock exchange-related costs ($81,081), rent ($63,554), and other general administrative purposes
($79,904).

According to the filing (page 9), the co-founders will be "earning" just over 1M off this latest amount raised, or about 10%. They've been raking it in for years financially with this, and one would think that with both the US and Canadian stocks trading for pennies on the dollar, that it would represent such a great opportunity to show investors that they believe in their own company buy purchasing shares on the open market. I guess when you're already loaded with so many freebie shares its pointless to them, but to everyone else that puts their hard earned money into this POS it's just another huge red flag, blowing in the wind.

And what is that Mapes does with this company that earns him a dime, anyway? Is he still doing field trips around the country or globe, talking about the evolution of mankind from apes and pond goo? I'm embarrassed to admit that I used to believe in this clown show. Friday's filing fills us all in what the focus really is all about, and just how far off this company is from literally any sort of relevancy. I'm wondering if it was required for the raising of funds in this latest round, as they're literally having to raise about 10M every quarter at this point just to keep the damn lights on. It looks like there is no lockup period for the shares that are about to hit, either. One thing is for certain. If those MNIST and Atari "Milestone" benchmarks don't amount to anything with G42 by the end of this year from a valuation/funding standpoint, there's going to be pandemonium amongst the investment community as both stocks continue to crater.



Compromised of salaries and related costs for the CEO and President ($1,035,976), CFO ($388,884), accounting team
($501,086), Board of Directors ($324,324), human resources team ($253,220), IT team ($257,096), internal counsel
($386,781), external counsel ($643,243), software subscriptions ($202,703), travel expenses ($182,432), D&O insurance
($559,111), stock exchange-related costs ($81,081), rent ($63,554), and other general administrative purposes
($79,904).