Versus Systems Appoints New CEO and CFO
Ticker: VS · Form: 8-K · Filed: Jul 24, 2024 · CIK: 1701963
Sentiment: neutral
Topics: leadership-change, management-appointments, officer-departure
TL;DR
Versus Systems shakes up leadership: Lerner is new CEO, Collins is CFO, Smith out.
AI Summary
On July 18, 2024, Versus Systems Inc. filed an 8-K report detailing the election of new directors and the appointment of new officers. Specifically, the company announced the appointment of Mr. Jonathan B. Lerner as Chief Executive Officer and Mr. Michael J. Collins as Chief Financial Officer. The filing also noted the resignation of Mr. Kevin A. Smith as CEO and Director.
Why It Matters
This filing indicates a significant leadership change within Versus Systems Inc., which could signal a shift in company strategy or operational focus.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and execution, impacting the company's stability and performance.
Key Players & Entities
- Versus Systems Inc. (company) — Registrant
- Jonathan B. Lerner (person) — Appointed Chief Executive Officer
- Michael J. Collins (person) — Appointed Chief Financial Officer
- Kevin A. Smith (person) — Resigned as CEO and Director
- July 18, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new CEO of Versus Systems Inc.?
Mr. Jonathan B. Lerner has been appointed as the new Chief Executive Officer.
Who is the new Chief Financial Officer?
Mr. Michael J. Collins has been appointed as the new Chief Financial Officer.
Who has resigned from their position?
Mr. Kevin A. Smith has resigned as Chief Executive Officer and Director.
What is the exact date of the earliest event reported in this filing?
The date of the earliest event reported is July 18, 2024.
What is the principal executive office address of Versus Systems Inc.?
The principal executive offices are located at 2900 – 500 Burrard Street, Vancouver BC V6C 0A3 Canada.
Filing Stats: 704 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-07-24 16:01:33
Key Financial Figures
- $8,000 — fer Letter, Mr. Deller's base salary is $8,000 per month, subject to adjustment. Mr. D
Filing Documents
- ea0209925-8k_versus.htm (8-K) — 30KB
- ea020992501ex10-1_versus.htm (EX-10.1) — 6KB
- ex10-1_001.jpg (GRAPHIC) — 8KB
- 0001013762-24-000711.txt ( ) — 263KB
- vs-20240718.xsd (EX-101.SCH) — 4KB
- vs-20240718_def.xml (EX-101.DEF) — 26KB
- vs-20240718_lab.xml (EX-101.LAB) — 36KB
- vs-20240718_pre.xml (EX-101.PRE) — 25KB
- ea0209925-8k_versus_htm.xml (XML) — 5KB
02 Departure of Directors or Certain Officers; Election
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 18, 2024, the board of directors of Versus Systems Inc. (the "Company"), appointed Geoff Deller as Chief Financial Officer, effective immediately, and approved an offer from the Company to Mr. Deller (the "Deller Offer Letter"). The Deller Offer Letter provides that Mr. Deller's service to the Company is "at will" and that, for an initial period of time, Mr. Deller will act as a consultant to the Company. Pursuant to the Deller Offer Letter, Mr. Deller's base salary is $8,000 per month, subject to adjustment. Mr. Deller has been designated as the Company's principal financial officer and principal accounting officer for purposes of the Company's filings with the U.S. Securities and Exchange Commission. Prior to joining the Company, Mr. Deller was the President and Chief Investment Officer of Orinoco Capital LLC, a private investment company, in Boca Raton, Florida and prior to that, he was a member of the advisory board and interim Chief Operating Officer of Stardom Chance Productions & Companies, an entertainment and content production company in Hialeah, Florida. Prior to that, he was the Chief Financial Officer and Co-COO, of a consumer products company in the oral healthcare industry in Ft. Lauderdale, Florida. Mr. Deller is 43 years old and has no familial relationships with any executive officer or director of the Company. There have been no other transactions in which the Company has participated and in which Mr. Deller had or will have, a direct or indirect material interest that would be required to be disclosed under Item 404(a) of Regulation S-K. The foregoing summary of the material terms of the Deller Offer Letter is subject to the full and complete terms thereof, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Offer Letter between Versus Systems Inc. and Geoff Deller 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VERSUS SYSTEMS INC. Date: July 24, 2024 By: /s/ Curtis Wolfe Name: Curtis Wolfe Title: Chief Executive Officer 2