Verus International Inc (VRUS)

[Renegades17]

A few points to share

The $78mm UAE and $25mm+ Vietnam deals are still valid. This was intimated in the investor update, but I wanted to make sure as I found it hard to believe. The CFO's departure makes more sense when you consider that the guy they brought in as regional CFO is as accomplished as the one departing. It really didn't make sense, at this juncture, to keep two CFOs. This will also save the company in terms of restricted stock (only 1/3rd of the departing CFOs restricted stock vested, but it's still 4.6mm shares for him).

There are still three remaining board members and they aren't leaving. The guy that resigned is still helping the company with business development and operations, so I think it's possible he rejoins the Board once the spin-off happens.