15:10:13 EDT Tue 29 Sep 2026
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Vsblty Groupe Technologies Corp (2)
Symbol VSBY
Shares Issued 113,350,343
Close 2026-05-05 C$ 0.125
Market Cap C$ 14,168,793
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Vsblty corrects comparative figures in 2025 financials

2026-09-29 14:06 ET - News Release

Mr. Jay Hutton reports

CORRECTION OF COMPARATIVE FIGURES IN ANNUAL FINANCIAL STATEMENTS

Vsblty Groupe Technologies Corp. has identified a classification error in the comparative figures for the year ended Dec. 31, 2025, and will correct the error in its Dec. 31, 2026, annual financial statements in accordance with IAS 8, Accounting Policies, Changes in Accounting Estimates and Errors.

Nature of the correction

During the preparation of the company's annual financial statements for the year ended Dec. 31, 2025, certain operating expense amounts within Note 19, Expenses by Nature, were classified on incorrect line items. Specifically, within the summary of research and development expenses:

  • Amounts that should have been reported as salaries and wages were inadvertently reported as contract development expenses.
  • Amounts that should have been reported as contract development expenses were inadvertently reported as consulting fees.
  • Amounts that should have been reported as consulting fees were inadvertently reported as salaries and wages.

The error was confined to the subclassification of expense line items within Note 19. There was no difference in total research and development expenses as reported. The corrected breakdown of research and development expenses is presented in the table below.

Impact of the error

The classification error affected only the presentation of individual expense subcategories within Note 19, Expenses by Nature, for the year ended Dec. 31, 2025. The error:

  • Had no impact on the company's statement of comprehensive loss;
  • Had no impact on total operating expenses, net loss, loss per share or financial position;
  • Did not affect any figures in the income statement in aggregate;
  • Affected only the allocation between individual line items within Note 19.

Audit committee assessment

The company's audit committee has reviewed the matter and concluded that the error was immaterial to the financial statements taken as a whole. Notwithstanding that conclusion, the comparative figures will be restated in the company's audited annual financial statements for the year ended Dec. 31, 2026, in accordance with IAS 8, to ensure the accuracy and comparability of the company's financial reporting.

Reason for the correction

The error occurred during the preparation of the financial statements when figures were placed on incorrect lines within Note 19. The error was identified through the company's continuing engagement with the British Columbia Securities Commission in connection with the company's application for full revocation of the cease trade order issued on May 5, 2026.

Restatement

The restated comparative figures will be presented in the company's audited annual financial statements for the year ended Dec. 31, 2026, which will be filed on SEDAR+ in due course. This news release is being issued in accordance with Section 11.5 of National Instrument 51-102, Continuous Disclosure Obligations.

About Vsblty Groupe Technologies Corp.

Vsblty Groupe Technologies is a leading software provider of security and retail analytics technology. Leveraging its proprietary computer vision and machine learning platform, Vsblty delivers real-time AI-driven (artificial intelligence) security solutions and audience measurement analytics for defence, infrastructure, retail and smart-city applications around the world.

We seek Safe Harbor.

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