5. UNBILLED REVENUE
The
Company’s contract assets and unbilled revenues are summarized as follows:
SCHEDULE
OF UNBILLED REVENUE
| | |
Unbilled revenue | |
| Balance, March 31, 2023 | |
$ | 1,193,945 | |
| Additions | |
| 1,108,131 | |
| Provision for contract settlement (Note 4) | |
| - | |
| Invoiced | |
| (1,050,000 | ) |
| Costs recognized | |
| - | |
| Balance, March 31, 2024 | |
$ | 1,252,076 | |
| Additions | |
| - | |
| Provision for contract settlement (Note 4) | |
| (1,252,076 | ) |
| Balance, March 31, 2025 | |
$ | - | |
VERSES AI INC.
Notes to the Consolidated Financial Statements
For the years ended March 31, 2025 and 2024
(Expressed in United States dollars)
|
|