24/7 Market News- Versus Systems Signs Agreements with ASPIS Cyber Technologies in support of Its Nasdaq Compliance Plan

October 16, 2024

DENVER, Colo., Oct 16, 2024 (247marketnews.com)- Versus Systems (NASDAQ: VS) reported that it executed two agreements with ASPIS Cyber Technologies, which form the foundation of the compliance plan that Versus submitted to Nasdaq on October 7, 2024, to address Nasdaq Capital Market’s $2.5 million minimum in shareholders’ equity requirement for continued listing.

The funding component calls on ASPIS to invest $2.5 million in Versus Systems; $500,000 initially, followed by the $2,000,000 balance, in exchange for an unsecured convertible promissory note with each unit comprised of one common share and one warrant to purchase one half of one common share at an exercise price of $4.00 per share.

The license agreement calls for ASPIS to begin paying a $165,000 monthly fee, in January 2025 that grants ASPIS a license to use any modifications made to Versus Systems’ gamification, engagement, and QR code technology for integration into its cybersecurity offerings, particularly in sectors such as government, finance, gaming, and social media. ASPIS will further compensate the Company for any updates or innovations related to this technology.

Curtis Wolfe, Interim CEO of Versus Systems, commented, “Partnering with ASPIS Cyber Technologies marks a pivotal moment for Versus Systems.

“This collaboration not only strengthens our financial position but also enhances our technological capabilities, allowing us to provide cutting-edge solutions in cybersecurity.”

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (VS)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.