Subject: VSBLTY: NR
Word Document
File: '\\swfile\EmailIn\20260929 103105 Attachment 2026-09-29_VSBY_NR_Correction-Comparative-Figures_Final.docx'
LEGAL_50548533.3
VSBLTY Groupe Technologies Corp.
NEWS RELEASE
CSE: VSBY | OTCQB: VSGBF | FSE: 5VS
Correction of Comparative Figures in Annual Financial Statements
Vancouver, BC - September 29, 2026 - VSBLTY Groupe Technologies Corp. (CSE: VSBY) (the "Company") announces that the Company has identified a classification error in the comparative figures for the year ended December 31, 2025 and will correct the error in its December 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 December 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; and
amounts that should have been reported as consulting fees were inadvertently reported as salaries and wages.
The error was confined to the sub-classification 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.
Year ended December 31, 2025
Year ended December 31, 2024
Research and development expenses:
Contract development and materials expense
88,814
91,078
Consulting fees
783,532
489,985
Salaries and wages
570,000
622,500
Total research and development expenses
1,442,346
1,203,563
Impact of the Error
The classification error affected only the presentation of individual expense sub-categories within Note 19 - Expenses by Nature for the year ended December 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; and
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 December 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 ongoing 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 December 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 Corp. (CSE: VSBY) 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 security solutions and audience measurement analytics for defence, infrastructure, retail, and smart city applications worldwide. For more information, visit www.vsblty.net.
For further information, contact:
VSBLTY Groupe Technologies Corp.
Jay Hutton, CEO
Email: jhutton@vsblty.net
Telephone: (212) 652-2208
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the filing of restated comparative financial information and the Company's pursuit of the revocation of the cease trade order. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "anticipates", "intends", "believes" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including, without limitation: the Company's limited operating history; the Company's history of operating losses; the Company's need for additional financing; the Company's limited cash resources; the impact of the current cease trade order on the Company's ability to access capital markets; the Company's ability to achieve profitable operations; general business, economic, competitive, political and social uncertainties; and other risks described in the Company's public disclosure documents filed on SEDAR+ at www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
PDF Document
File: Attachment 2026-09-29_VSBY_NR_Correction-Comparative-Figures_Final.pdf
VSBLTY Groupe Technologies Corp.
NEWS RELEASE
CSE: VSBY | OTCQB: VSGBF | FSE: 5VS
Correction of Comparative Figures in Annual Financial Statements
Vancouver, BC -- September 29, 2026 -- VSBLTY Groupe Technologies Corp. (CSE: VSBY) (the
"Company") announces that the Company has identified a classification error in the comparative figures
for the year ended December 31, 2025 and will correct the error in its December 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 December 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:
dot amounts that should have been reported as salaries and wages were inadvertently reported as
contract development expenses;
dot amounts that should have been reported as contract development expenses were
inadvertently reported as consulting fees; and
dot amounts that should have been reported as consulting fees were inadvertently reported as
salaries and wages.
The error was confined to the sub-classification 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.
Year ended Year ended
December 31, December 31,
2025 2024
Research and development expenses: 88,814 91,078
Contract development and materials 783,532 489,985
expense 570,000 622,500
Consulting fees
Salaries and wages
LEGAL_50548533.3
Total research and development expenses 1,442,346 1,203,563
Impact of the Error
The classification error affected only the presentation of individual expense sub-categories within Note
19 -- Expenses by Nature for the year ended December 31, 2025. The error:
dot had no impact on the Company's Statement of Comprehensive Loss;
dot had no impact on total operating expenses, net loss, loss per share, or financial position;
dot did not affect any figures in the income statement in aggregate; and
dot 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 December 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 ongoing 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 December 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 Corp. (CSE: VSBY) 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 security solutions and audience measurement analytics for defence, infrastructure, retail, and smart city
applications worldwide. For more information, visit www.vsblty.net.
LEGAL_50548533.3
For further information, contact:
VSBLTY Groupe Technologies Corp.
Jay Hutton, CEO
Email: jhutton@vsblty.net
Telephone: (212) 652-2208
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities legislation. Forward-
looking information includes, but is not limited to, statements with respect to the filing of restated comparative financial
information and the Company's pursuit of the revocation of the cease trade order. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "anticipates", "intends", "believes"
or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will
be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied
by such forward-looking information, including, without limitation: the Company's limited operating history; the Company's
history of operating losses; the Company's need for additional financing; the Company's limited cash resources; the impact of the
current cease trade order on the Company's ability to access capital markets; the Company's ability to achieve profitable
operations; general business, economic, competitive, political and social uncertainties; and other risks described in the
Company's public disclosure documents filed on SEDAR+ at www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-
looking information. The Company does not undertake to update any forward-looking information, except in accordance with
applicable securities laws.
LEGAL_50548533.3
© 2026 Canjex Publishing Ltd. All rights reserved.