Verses AI Inc (VRSSF)

[at online tipletter]

Yes, I think that was the plan based on the press releases. I was in a similar situation 25 years ago. The CEO gave a large retainer to a broker/dealer to raise capital or bring in a strategic alliance for a start-up company I was working with. They didn't do squat. I eventually went out and did it myself. I was dedicated and a true believer. The middlemen just want to get the up-front money and hope something drops out of the sky without expending any major effort. I hope the management team at Verses knows what they are doing. I'm quite sure I could have arranged something of significance by now. Just saying...........

[Capt_Smith77]

The joke was on us as investors, as usual. There are those that defended the CEO's remarks, but when you post that maybe you can/can't comment by the end of the month, then you really are full of shit, and clearly wanted to mislead for some reason. They had absolutely zero ties with that company, but wanted to give the appearance that something big was in play, when in reality all it was is another promotion of a software that's continuously hyped but never actually available to anyone.

Months ago they claimed to have begun a large public beta of their Genius product, and where is it? Where is any of it?

[Capt_Smith77]

Isn't that what G42 was supposed to be about? We kept hearing about how they would value the company in the billions with upcoming financing in play, but to date they haven't bothered with it, despite the company's cash burn rate and need for funding each quarter.

[at online tipletter]

I like moving Mr Samit out of Chairman role to focus on developing partnerships. IBM, SAP, HPE and many others need a technological refresh! Sell 2% of the company to someone at a major premium to get the ball rolling.

[Capt_Smith77]

If they were working with OpenAI and a part of Strawberry, the stock wouldn't be trading for pennies.

All of the messages on social media are a joke.

[Judah137]

The more I look at those two tweets, the more I realize it was a filthy pump. Post a monkey and a strawberry and a butterfly, price spikes to near $1.00, 7+ million shares get added to the OS during that timeframe.

What don’t you understand about “Strawberry doesn’t use Active Inference”? Seems the semantics are very clear here.

[robinandthe7hoods]

The more I look at those two tweets,the more I'm thinking Strawberry and Genius are intertwined after all...Why the play on words at the exact same time as Altman again,and why not just refute the rumors 3 weeks ago,or even yesterday,instead of playing around?
And why would G42 bother putting that clause in the June financing before the public beta was even announced unless there was something else in the works that could potentially bring in revenues,and thus a huge financing.
And why would the govt bother with just another glorified search engine?
Why would Microsoft,Nvidia and Apple talk about throwing more billions at Open AI when they are losing billions,unless there is something that looks promising,other than just a new search engine,in the works.
There is a rumor that Strawberry will be released in January.Basically the same time as Genius is set to go public.
Hard to get all these coincidences out of my head.
And Gabriel Rene being so cryptic for no reason if they weren't connected.
'I'll see you on the field!'....Really?

[scottyb]

some bidding doofus

[robinandthe7hoods]

13 hours ago,Sam Altman tweeted this,"Sam Altman
@sama
·13h
we are happy to have reached an agreement with the US AI Safety Institute for pre-release testing of our future models.
for many reasons, we think it's important that this happens at the national level. US needs to continue to lead!"------------
One hour later,Gabe tweets this,"Gabriel Rene
@GReal1111
·11h
Here's my comment: Everyone is starting to realize that Active Inference is needed for efficient online reasoning, planning, and learning. Strawberries don't do that. Geniuses do it well. See you on the field."
So,Open AI let the govt safety board take a look at Strawberry and they determined there was no safety issue for national security and they will allow it to proceed for public use.
The govt has confirmed that Starwberry is not AGI,just another search engine for language.
So,now we know Verses AI is not involved with Strawberry,and Gabe has confirmed again we are the only true AGI.
All these companies are talking like they have AGI in their new products,but not one of them does...They can not reason,plan,or learn,they can only repeat what was put in.Search engines.
LET THE BIDDING BEGIN!

[crazyflavor]

So you’re not going to really answer if you have a real position. I’m assuming you own less than 1,000 shares

[Judah137]

“ A final arbitration award was issued on this action on May 17,
2024. The final award imposes liability against: (i) VTU, jointly and severally with Cyberlab, LLC (a company owned by Dan Mapes, President of the Company), in the amount of US$6,307,258, inclusive of interest; and (il) Cyberlab, LLC, VTU and its principals, Gabriel René and Daniel Mapes, jointly and severally, for damages in the amount of US$1,900,000, interest of US$709,973, costs of US$64,303 and the fees of the plaintiff's counsel totalling US$920,231. To resolve their part of joint and several liability, Mr. René and Mr. Mapes are working toward satisfying the portion of the award that applies to them as individuals. The remaining liability belongs to VTU and VTU is pursuing resolution negotiations which are ongoing.
As any litigation is subject to many uncertainties, it is not possible to predict the ultimate outcome of this claim or to estimate the loss, if any, which may result. Accordingly, the outcome of the claim is not yet determinable, and the extent to which an outflow of funds may be required to settle this possible obligation cannot be reliably determined.”

[Capt_Smith77]

I believe that a large amount was set aside previously to cover the lawsuit. Thats why the last quarter expenses weren't as high as the previous.

Its a plus for them, but the burn rate is still high and now they show zero for revenues as they allowed NRI to be free from under their contract, before signing a new one.

[crazyflavor]

If you consider yourself an analyst which it sounds like you do, you should have a nice big chunk of shares.

If you’re not willing to disclose whether you have more than 10,000 or 5,000 shares considering the enormous amount of money Verses has paid for you to promote their stock, than you should at least disclose here (on IHub) that you are being paid or have been paid by the company to promote their stock.

Btw, your disclosure on YouTube makes it look like your contract with Verses (for promotion) ended Sept of 2023. If they are still paying you then you should probably update your disclosure. Your statement “additional cash payments have accrued since then” doesn’t state if the company is still paying you $10k per month or not.

[Judah137]

Oh, you’re definitely a paid pumper. Nobody takes that much time to find that many links to (quasi) relevant articles, unless they’re being paid to do so.

Being up ~200% on a risky penny stock investment and holding it nearly back to your supposed entry price, is not something to brag about. You should learn how to trade and build a position. If you had sold at the top you could have had an identical position, with zero risk.

There is no liquidity here. OTCN and VIRT present the SEMBLANCE of liquidity with BID SPOOFING. They bagged me trying to limit my loss from the .80s. Every time I tried selling into a bid that looked ample to accommodate, they immediately lowered the bid and either only filled a TINY portion of my sell order, or they didn’t fill anything and lowered the bid. The volume only changed by what I sold, so I know it’s illegal bid spoofing. They have been reported to the SEC, in case you’re wondering.

[einstock]

I started buying Verses January '23 and have added several times since.

I have NEVER sold a share.

Verses is a very speculative investment.
They are competing with some of the biggest players in the space but have taken a different approach to the ultimate goal, AGI.

I view this like ANY startup (very risky and requires patience), but it differs in the size of the market they're going after AND it is very rare in that with this investment, it offers liquidity (which MANY of the AI startups I follow DON'T).

[crazyflavor]

Einstock, I’m still curious to hear how many shares of Verses you own. You have all of these great things to post and say, but do you have a significant position, or are you just saying this bc you are a paid promoter.

Do you own let say more than 30,000 shares?

[einstock]

https://www.goldmansachs.com/images/migrated/insights/pages/gs-research/gen-ai--too-much-spend,-too-little-benefit-/TOM_AI%202.0_ForRedaction.pdf

https://www.cio.com/article/2089717/cios-not-entirely-sold-on-generative-ai-copilots.html

https://www.cio.com/article/2112589/wheres-the-roi-for-ai-cios-struggle-to-find-it.html

https://fortune.com/2024/08/06/generative-ai-reality-check-tech-selloff-new-phase-less-hype-more-roi/

https://www.cmswire.com/customer-experience/the-end-of-investors-generative-ai-honeymoon/

https://www.businessinsider.com/ai-return-investment-disappointing-goldman-sachs-report-2024-6

https://www.asiafinancial.com/openais-8-5-billion-bills-spark-bankruptcy-speculation

https://www.windowscentral.com/software-apps/openai-could-be-on-the-brink-of-bankruptcy-in-under-12-months-with-projections-of-dollar5-billion-in-losses

https://www.cio.com/article/3485333/is-the-gen-ai-bubble-due-to-burst-cios-face-rethink-ahead.html

https://garymarcus.substack.com/p/why-the-collapse-of-the-generative

https://sloanreview.mit.edu/article/dont-get-distracted-by-the-hype-around-generative-ai/

https://www.theatlantic.com/newsletters/archive/2024/08/the-generative-ai-revolution-may-be-a-bubble/679345/

https://www.lemonde.fr/en/pixels/article/2024/07/14/after-euphoria-fear-of-bubble-grows-around-generative-ai_6683589_13.html#

https://www.theguardian.com/commentisfree/2024/apr/13/from-boom-to-burst-the-ai-bubble-is-only-heading-in-one-direction

[Judah137]

You said: “OpenAI's biz, generatibe ai, is toast (Goldman, NY Times, WSJ) have now all said it. Chatbots ain't "ai".”

^ There are many business use cases for LLMs. If there wasn’t, Verses wouldn’t have drafted a provisional patent just this year relating to the use of LLMs.

You said: “ Meanwhile NASA funded JPL just validated the Spatial Web using the recently IEEE approved protocols.”

^ this is a false statement. NASA/JPL hasn’t “validated”. They’re conducting beta testing.

LLMs are not merely “chatbots”, and you know this. Calling them chatbots downplays their functional use cases.

The fact is, Verses operates at a massive deficit and their technology is yet to be proven effective. They do in fact need a partnership or financing round (SOON) or more shareholder dilution will occur. I don’t think retail shareholder are missing the big picture, they understand the POTENTIAL of Verses. But potential requires actions and the right circumstances to become profitable. And right now, Gabriel is literally pumping the stock price so insiders can dump to get paid. Why do you imagine the G42 deal is structured so G42 can convert common shares as low as .57?

[einstock]

Retail investors are missing the big picture.

OpenAI's biz, generatibe ai, is toast (Goldman, NY Times, WSJ) have now all said it. Chatbots ain't "ai".

Meanwhile NASA funded JPL just validated the Spatial Web using the recently IEEE approved protocols.

The big picture isn't chatbots, it's robots and agents.
IMO Verses doesn't need OAI, OAI needs Verses....

G42 didn't fund V for ANOTHER chatbot, they're after a much bigger mkt (physical world).

[Judah137]

Yes, considering their cash burn, and the lawsuit judgment against them, I see an offering coming very soon. The recent news failed to move the SP, in fact, it went down. The OS increased from 151,840,452 to 158,857,952 between 08/06 and 08/20. So unless VERY good news comes, for example a confirmation of the cryptic OpenAI suggestion, or a financing round, the SP is going down to test new lows. I’m guessing .57 for the short term. Their benchmark results are set to be released throughout the rest of 2024 per their webinar, and I don’t imagine there will be a financing round until many more benchmarks have been completed and the results independently verified. I see nothing but pumping and SP manipulation, until the point where that isn’t needed…

[Capt_Smith77]

If there's no mention of the company working alongside OpenAI by the end of the month, I see some of the euphoria drying up with the stock.

[Capt_Smith77]

I though that they just showed 10M cash on the books in their latest FINS, but can't remember the exact amount. Considering they burn through about that per quarter though, it isn't much.

[Judah137]

Would not recommend that. OTCN and VIRT are bid/ask spoofing hard. Try selling into the bid and they’ll fill a tiny portion of the sell and pull the bid lower. The ask will look thin AF but it’s actually stacked heavy. But they will push it up randomly to create exuberant buying - only to push it right back down. Plus the company is currently diluting. 7+ millions shares added to OS over the last week. Verses is probably just about out of cash too, so offering is likely, unless that financing round actually happens…which looks unlikely before offering, but you never know…

[crazyflavor]

Feels like you could basically day trade this (which I don’t do). Seems to be decent volume all the time and a consistent 20-25% fluctuation every week.

[Capt_Smith77]

Iruletheworldmo seems to have a fascination about chrysalis, with both strawberries and butterflies.

https://www.tiktok.com/@iruletheworldmo

https://www.verses.ai/

[scottyb]

its magical poo

[Lokotony]

And, another bad buy and I don't see the negative catalyst!

[Capt_Smith77]

He comes up just short of including Accenture as a partner, but one has to wonder given his perpetual optimism.

IIRC, I believe that he resides and works in Saudi Arabia, and its said that Verses could be speaking soon at an event in that region.

[Capt_Smith77]

Vast amounts of money has been thrown around in this space for a little while now, and honestly 350M is nothing, especially for a company claiming it can cut costs significantly.

Assuming the financing round was all at once, 350M on the books would be a big deal, and cause such a massive short squeeze that I don't see shorts as a problem. G42 actually gets a discount on the valuation, so its not a true 3.5B valuation that they're investing into, but I do agree that there must be a major catalyst that causes them to dive in.

Its likely that they're already aware of such an upcoming catalyst, and felt the need to have the option to invest heavily. Whether its a deal with OpenAI or another company where Verses' Genius platform could top off an LLM and offer it AGI like features on the back end, that would certainly be considered a major catalyst. As you've noted, the company has been extremely silent for a while now.

[FuriousX]

Well, it’s not that far fetched. Remember what Matthew Heaviside at Accenture said….

VERSES is offering Genius™ as a platform for multiple partners to build upon, similar to Apple's ecosystem approach. Partners like Siemens, Blue Yonder, and others are joining this AI revolution, setting a new standard for Intelligence as a Service. I feel very strongly that VERSES and the Genius platform will become a household name within the next 12 to 24 months.

[robinandthe7hoods]

Before there is ever a financing for $350 million,valued at $3.5 billion,the stock itself has to rise substantially,and for that to happen,there has to be a major announcement.
$350 million would still be the real amount,and that equates to just over $2 at the current share count.
At a phantom $23/share and nothing to back it up,the shorts would drive the stock into the ground instantly,so there would be no $23 valuation...
When companies buy in on financing rounds of brand new startups,they do so knowing when the time is right that valuation is instantly 4-10x and will probably rise from there.Those companies have high revenue capabilities by then.
Verses AI isn't at that stage until there is a major announcement that shows these possibilities.
When a financing round takes place for the amount of $350 million,those companies got an agreement in early to make sure that $3.5b valuation would actually be in place and they would make 10x instantly,just as startup financings would,otherwise the shorts would be waiting for that phantom $23 number.
The $10 million financing with that side deal,came on June 20,the same day the open beta was to begin.
What was going to take place beginning that day,that could impact a potential valuation of $23/sh?
What is the biggest story in the AI world since then,and who is just about to begin their own open public beta,once their own internal beta was a startling success,and what happened to cause all this?Rumors are that Reuters saw the paperwork in May on that catalyst,and then beginning in June/July the leak began.
Is this the announcement Verses is waiting for?Because the stock sits at $1.15,that isn't anywhere near the $2/sh the $350 million would be priced at,and certainly nowhere near a $3.5b valuation.
But,a deal with a company that has a deal with another company that could see that technology end up in the hands of billions of users could cause a stock to move that much and give certain investors the inclination to put that clause in there beforehand.
So,what you would really have is a $3.5 billion deal financed for only $350 million,and that is the possible attraction.
Maybe this is all a figment of my imagination,and none of it takes place...We'll have to wait and see.
Anyone notice how quiet Verses management has been in the last month and a half since that other company started all the hooplah?Very strange.This is my last post.

[Capt_Smith77]

Then there's this odd character..... As I posted on the Yahoo board last week, imagine coming out and making wild claims about how OpenAI is going to blow our minds with an Active Inference approach to AI, and even citing Karl Friston himself multiple times. The way I'm understanding things, I believe that this guy was an early tester of the Strawberry AI. Even further, he makes positive mention of Verses in another post with their research on RGMs. Then all of a sudden, he turns negative on Verses in a very, very long spiel that has many questioning his motives. If its true that the OpenAI is utilizing Active Inference, but turns out NOT to be working alongside Verses, there must be some funny business going IMO. For a company that put out a full page ad in the NYT looking to work alongside OpenAI back in December or thereabouts because of their charter, it would look terrible for not just OpenAI, but also Microsoft if they looked to circumvent using a similar approach.

OpenAI is about to blow your mind with Active Inference... So what is it?

> First introduced in the early 2000s in a series of papers by neuroscientist and theoretical neurobiologist, Karl Friston - active inference is a theory of how the brain uses statistical inference and…

— Ted Werbel (@tedx_ai) August 5, 2024

[Capt_Smith77]

This if the first time that I've seen Verses not have any open positions for hire.

There's been literally complete silence surrounding the supposed "Large Public Beta" that was should have begun on June 20th for Genius, allowing developers access to their SDK to build agents. Far too silent, IMO, and now the company has come out with RGMs, and no longer talks down about llms, but rather how the two approaches are complementary.

I can't help but wonder if OpenAI, Microsoft, or another large player in the arena of AI has serious interest in buying them out, and if the co-founders are looking to sell. If the company was indeed working alongside this Strawberry model with OpenAI, it would at least help explain some of the silence as they're likely all-in on such a project. The Transformity Research letter seems to believe that its really happening, and claims sources in their material. I hope they're correct.

[robinandthe7hoods]

Appears Open AI will release Strawberry Level 2 in an open Beta test to their users this Tuesday.They obviously used it in the Verses AI beta test and liked it enough to release it to their customers to test it.
Should be a 2-3 week test max to see if their are any problems they didn't see on their own beta test.
Might we hear something soon after that,as they get ready to release it for Apple?...Is this what Verses AI is waiting for before the big financing takes place?
Interesting times ahead?

[Capt_Smith77]

It was pulled.

Had to do with the anson funds and citron, and how it could potentially provide an explosive short squeeze if they were shorting Verses.

[at online tipletter]

Where is the video?

[einstock]

[scottyb]

no no no

[robinandthe7hoods]

The 3-month chart is a perfect cup'n'handle,with the handle now breaking up...The shorts are caught...

[Capt_Smith77]

Its speculation at this point that OpenAI is working with Verses, as nothing has been PRed, and its speculation based on social media posts thus far.

I had posted here or elsewhere a while back that Microsoft was starting to work a little on Active inference, which appeared to be a first. Its possible that they recommended that OpenAI work alongside Verses, given the potential of their work with AGI and supposed progress.

It seems as though Verses has moved away from downplaying LLMs to rather the thought of how both are needed to work together. I say this because their website now promotes the benefits of LLMs, which is a surprise. Its certainly a shift.

[Capt_Smith77]

I picked up a few shares this morning at the ask. If there's any possibility that they're working with OpenAI, that's huge. Also, I came across this video this evening, and thought it was worth sharing....

[FuriousX]

I'm thinking just that also; That OpenAI eventually responded to that letter and was impressed with what we now know to be Verses' GENIUS. Man, it's all speculation now but if this is fact., DAMN!

[robinandthe7hoods]

On June 10,Sam Altman tweeted that they would be teaming up with Apple to put Chat GPT on their products later this year...Why not now,why only later?
Because the attraction is AGI,something CHAT doesn't have yet,as Verses AI is only in beta testing Genius at this time.
Open AI was nowhere near AGI,until after Verses AI challenged Open AI to collaborate in December.
Strawberry is CHAT GPT plus Genius...I wonder how many people have no idea Verses is a public company trading at .90?

[robinandthe7hoods]

Strawberry will be powered by 'Genius' os...The question becomes ,"Can Open AI and Microsoft[and Apple] afford to let any other competitor buy into Genius,when it would have the entire business world in the palm of their hands?
Imo,we are no longer looking at $350 million...Could we be looking at a bidding war?...$10-15-20-25 billion?

[robinandthe7hoods]

Open AI/Verses AI collaboration announcement coming soon?
1-Gabriel Rene
@GReal1111
Should I comment? I shouldn’t comment…maybe end of month I can comment! 🙊🍓🦋
12:58 AM · Aug 06/24
2-https://x.com/sama/status/1821207141635780938/photo/1

[Lokotony]

Ok, I'm in.....seen this in a few places and it's a maybe.

[Capt_Smith77]

Private Beta should be complete. Public Beta (large group)...... How is that going? Has anyone gained access to the sdk yet?

[robinandthe7hoods]

None of the billion dollar LLMs are taking a leap beyond their competitors despite throwing more and more money building up the data centers...The beta testing phase is almost complete for Verses AI...
Who comes in first to swoop down and buy out Verses?...Because whoever adds this to there LLM will save a lot of billions and transform the LLM to the next level with a brand new operating system that will end up in the company taking over phone sales,computer sales,the gaming industry,the defense industry,warehousing...
Whoever owns this technology to add to an LLM,would pretty well take out all the competitors within a year.
Or does Verses AI allow all the LLMs to buy into a partnership with them,they all save billions,and they all survive?

[einstock]

Please see the 64-page paper that goes into great detail.
If you understand AI and the current models, the stats achieved will be mind boggling.

From Pixels to Planning

[scottyb]

test never has been validated