Versapay Corporation announced financial results for the fourth quarter and year ended December 31, 2012. For the quarter, the company's total revenues were CAD 4.1 million against CAD 3.7 million a year ago. Net loss was CAD 0.3 million against CAD 0.2 million a year ago. Adjusted EBITDA was CAD 0.3 million against CAD 0.2 million a year ago. For the year, the company's total revenues were CAD 16.9 million against CAD 15.1 million a year ago. Net loss was CAD 1.5 million or CAD 0.10 per basic and diluted share against CAD 0.9 million or CAD 0.07 per basic and diluted share a year ago. Adjusted EBITDA was CAD 0.9 million against CAD 0.4 million a year ago. Cash provided by operating activities was CAD 1,099,989 against CAD 382,237 a year ago. Acquisition of equipment was CAD 25,425 against CAD 124,404 a year ago. For the quarter, the company provided impairment loss of CAD 31,763 against CAD 31,763 a year ago.

Versapay Corporation filed its Annual on Apr 26, 2013 for the period ending Dec 31, 2012. In this report its auditor, Grant Thornton, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Versapay Corporation announced a strategic partnership with Bluefin Payment Systems. VersaPay's proprietary Electronic Money Transfer (EMT) platform allows businesses to move money from any bank account in Canada with a click. Businesses writing checks or using wire transfers can complete bulk transactions from their financial software or manually enter one-time transactions with VersaPay's secure payment processing solutions. Bluefin customers wanting to utilize EMT in Canada will now be able to integrate directly with their financial systems and move money without having to write a check. Business can accept one-time or recurring EMT payments directly from their customers' bank accounts. They will be able to automate recurring billing, bill payments and payroll, increasing profits and saving time as well as ensuring that funds are deposited quicker and in a more secure manner.