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Gabriel René leads Verses AI Towards Success

Gabriel René leads Verses AI Towards Success
Written by
Darin Carroll
Darin Carroll
Published on
April 17, 2023
Read time
3
 min read

Verses AI (NEO: VERS, OTC: VRSSF, FRA: J9A) is an AI company led by Gabriel René, known as the #1 bestselling author of The Spatial Web & SWF. The company is highly focused on its KOSM product which is no less than the world’s first network operating system for enabling distributed intelligence. Verses recently closed several convertible debenture financing and notably partnered with SimWell.

VERSES Technologies Announces Name Change to VERSES AI

Sector Overview

In 2022, the market for artificial intelligence was estimated to be worth USD 136.55 billion. From 2023 to 2030, it is expected to increase at a CAGR of 37.3%. The adoption of cutting-edge technology is fueled by ongoing research and innovation led by tech giants in the manufacturing, healthcare, retail, and finance sectors. AI services are used by businesses to lower overall operating expenses and increase profit. Companies are using artificial intelligence as a service, or AIaaS, to gain a competitive edge over the cloud. Services for artificial intelligence encompass tasks like installation, integration, upkeep, and support. Throughout the projection period, the category is expected to have considerable growth.

Company Overview

Verses AI (NEO: VERS, OTC: VRSSF, FRA: J9A) is a cognitive computing business specializing in next-generation artificial intelligence. Powered by KOSMOS, a network operating system that enables distributed intelligence, VERSES' flagship product, GIA, is an Intelligent Assistant for Everyone modeled after natural systems and the design principles of the human brain and human experience. Based on open standards, KOSM combines diverse data to create knowledge models that encourage reliable AI, machine, and human cooperation in both physical and digital realms. Envision a more intelligent future where inventions drawn from nature enhance human potential.

Most of the company's milestones are expected to occur in 2025. Verses AI expects to break even this year and up list to NASDAQ. 

Peut être une image de oiseau et texte qui dit ’VERSES ubiquitous agents, all flowing in unison, distributed mind’

KOSM is considered the world’s first network operating system for distributed intelligence. Basically, the system interacts directly on your behalf in the physical world. KOSM runs continually in a repeating cycle that is simple to understand. The KOSM combines AI with edge computing, robotics, and augmented reality in the real world. It results in outcomes in the real world.

Verses AI recently partnered with SimWell. The partnership will make use of VERSES' cutting-edge A.I. and SimWell's expertise in creating digital twins to give simulations for predictive modeling. Through this partnership, enterprise clients in the retail, warehousing, consumer brand, manufacturing, logistics, and supply chain sectors will be given the tools they need to create real-time models that will help them make data-driven decisions, streamline processes, and cut costs while standing out in the cutthroat global marketplace.

About Gabriel René

With a 25-year career in the Technology, Telecom, and Media Industries, Gabriel René (CEO & Founder) is a technologist, entrepreneur, and author who specializes in emerging technologies like AI, IoT, and XR and their applications for industrial, fintech, govtech, and international standards organizations. He is the founder and CEO of VERSES Inc., a firm producing the first AI operating system in the world called KOSM to create and distribute AI-powered apps.
The Spatial Web: How Web 3.0 Connects People, Machines, and AI to Change the World is his #1 International Bestseller.

As a deep technology leader, Gabriel has worked with several Fortune 100 organizations to develop corporate and consumer products and services. Several Fortune 500 companies, including Verizon, Sony, Intel, Coca-Cola, Microsoft, Yahoo, Qualcomm, Apple, Samsung, Universal, AT&T, Obama Campaign, Condé Nast, Elle Magazine, Cannes Film Festival, and others, have enlisted his services.

Vision
A smarter world where people and technology work in greater harmony to generate shared prosperity.
Mission
Elevate human potential through intelligent tools that radically improve our mutual understanding.

Peut être une image de texte qui dit ’VERSES a tree of knowledge, branches interconnected, designed by nature’

Share Structure / Financials

The latest financial statements occurred for the period ending December 31, 2022. Verses AI generated $560k, and the revenue costs totalled $475k. Verses AI puts almost 33% of its expenses into research and development ($1.5M). Other high expenses include personnel expenses ($732k), investor relations ($588k), and share-based payments ($720k). 

An unusual data we encountered through the company’s financials are travel and meal expenses. They totalled as much as $219k for just three months. 

Before the recent financing, the company had $2.9M in cash, $8M in total assets, and $2.5M in total liabilities. 

The share structure is more than interesting. 118M shares are issued and outstanding, but René (founder & CEO) & Mapes (founder & president) detain 62.5M shares. 

Verses AI recently closed 3 tranches of financing for a total of $7.5M:

-The first tranche topped $5M;

-The second one reached $1.9M;

-The last one raised $600k.

This financing will be used for general working capital purposes. 

Regarding the stock price, investors enjoy a steady uptrend. VERS currently hovers around $1.6 (April 9, 2023), had a recent 52-week high of $1.85, and seems far from its 52-week low of $0.39. 

Conclusion

Verses AI (NEO: VERS, OTC: VRSSF, FRA: J9A) is heading towards significant accomplishments. The company’s valuation is attractive, it recently closed 3 tranches of financing and announced its partnership with SimWell. Let’s not forget founders detain a high percentage of the share structure and that Gabriel René leads the boat. 

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