VERSES AI Announces New Strategic Direction, Discontinuation of AI Operations, and Pursuit of Strategic Alternatives

• VERSES AI is immediately discontinuing all AI research and development operations and redirecting the company to pursue alternative business opportunities.
• The Board accepted the resignations of the President/COO, CTO, and Chief Science Officer after disputes over unpaid wages to W-2 employees.
• The licensing agreement with Prodigii AI is terminated, and the relationship with a major global investment firm is ended.
• The CEO cites “extreme liquidity constraints” since his appointment in February, exhaustive but failed fundraising, merger, and asset sale efforts.
• The company will pursue financing or strategic transactions to preserve shareholder value but gives no assurance of success.

• The company’s sole business — AI software — is being abandoned entirely. Revenue-generating contracts and partnerships are scrapped.
• With no operations, no product, and key technical leadership gone, the remaining entity is essentially a public shell with significant liabilities.
• The explicit admission that prior fundraising and corporate development efforts failed indicates bankruptcy risk is acute.
• Shareholders face the prospect of near-total loss unless a reverse merger or asset sale materializes, which management itself says is uncertain.

VERSES AI Inc. was an early-stage artificial intelligence company that developed the Genius™ agentic enterprise intelligence platform and the AXIOM model. It sought to serve financial services, cybersecurity, manufacturing, energy, and healthcare sectors. As of June 2026, the company has ceased all AI operations and is now a shell with no operating business, pursuing strategic alternatives.