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Well unfortunately will have to wait for EC to hopefully get more BS or lies so we can further speculate on where Veri is headed.
What could they have possibly have been referring to
when they said "disruptive growth" for 2024. There has been nothing so far this year that even remotely points to anything disruptive.
And what's with the consulting business. Nothing there either. Said it's focused on aiWARE but don't want you to know about aiWARE.
Mystery too with all these qualified bidders how come non software asset not sold. Mystery why have to pay 5 mil in interest expense per quarter at usury rates with dilution.
Certainly the way it looks. In PRs keep saying Aiware leading Ai platform. Mystery how they come up with that when every other platform is kicking there butt's including all these little Ai voice platforms.
We did pick the wrong AI stock.
Will say over and over again, the two things that faked me out were 1. the fact that Steelbergs never sold at the highs when they had every opportunity to cash in on their BS, and 2. The Deloitte reseller agreement, which in hindsight went nowhere.
Thinking about aiWARE
since day one, the only acquisitions ever made to enhance the aiWARE platform are Machine Box and Atigeo. Other than that, everything about aiWARE is a product of Chad Steelberg, a no name in the industry, and reputation for being a bullshitter. When they make no effort to tout aiWARE or its alleged enhancements, it looks more and more like Chad was in way over his head when he was CEO, all talk and ego, without the substance. Chad's consulting contract looking more and more to me as merely a payoff to get him out of the CEO and Chairman positions. It does not go unnoticed that since Chad departed, we have seen absolutely nothing of him, and never see Ryan and Chad together any more. Looks like Ryan took over and had to fight Chad to do so, to try to salvage the company, as aiWARE was going nowhere other than in Chad's own mind.
Meanwhile Plantir is cashing in on over half a billion in Fed contracts. Picked the wrong Ai stock. We are cash in on Illinois State university and Nuix and mom and pop convince store
Yes, and here we are wondering where they are getting their cash from. Also, can't be good when potential customers see their balance sheet and wonder how Veritone is going to be a going concern going forward. And being in business for 10 years and have this embarrassing stock price and market cap. They don't give the appearance of being experts in AI at all.
Like you say, on the surface, everything about Veritone C-suite gives the appearance of incompetence. But for some reason, the Board and the C-suite appear to be content with perception of incompetence.
More pressing to me is how they are operating with zero cash. Only way is if debt holders cash in warrants at 2.57 or S3 has a provision for an ATM and cashing in 1 mil shares at a time to fund operations and why no disclosures.
When look at the last 3 PRs
Latest Press Releases
Veritone to Showcase AI-Powered Talent Acquisition Solutions at HR Tech 2024 in Las Vegas
3 days ago
Veritone Supports Universities, School Campuses and Public Safety Agencies in Investigations
Sep 12, 2024
Veritone to Showcase AI Solutions for Content Monetization, Advertising Performance and Localization at IBC2024 in Amsterdam
Sep 10, 2024
You have a PR to showcase HR solutions. Another PR to showcase public sector solutions. And the third showcases M&E solutions. Not one of these PRs mentions aiWARE. Yet aiWARE and its enhancements supposedly the core driver of the increase in demand and robust pipeline.
But they also allude to scalable AI cloud infrastructure with Veritone and AWS. And old version of aiWARE no longer available to new AWS customers.
If going it alone, why would you not promote your platform, when it is probably the only thing that differentiates you from competitors.
For me it all points to AWS, and the strategic collaboration agreement. That is the only catalyst I see that can propel the stock back toward historic levels. But where is it? Why would they not be getting the message out loud and clear about all the enhancements to aiWARE. Instead, they don't even mention aiWARE.
That's why I have not.
I'm not brave enough.. LOL
One of the core drivers of the increase in demand and robust pipeline that we are seeing is due to the
strength of our software. Over the past several quarters, Veritone has made significant enhancements
to our proprietary AI platform, aiWARE.
All of these enhancements in aggregate have led to positive customer feedback and a meaningful
increase in demand as evidenced by our largest AI software pipeline to date.
So aiWARE core driver of increased demand and robust pipeline. But they don't talk publicly about aiWARE anymore or give any detail. Don't even mention enhancements on either website. Makes no sense. But has to be a reason for it.
With zero cash and 160 mil in debt and poor track history you are a brave man to buy more.
Without any news, believable or not. This is just a rising tide.
The silence is typical of this mgmnt and most likely will not change.
However there is a fundamental reality here.
None of the current board would join a sinking ship without knowing much more than you or I
Additionally none of the newer relationships would engage for the same reason..
I am not a booster or a cheerleader for the Steelbergs but right now I have no other choice and if I could buy more I would...
3 pm we start the downward stock price slide. Seems like every day occurrence now
I agree. Lack of transparency for investor is alarming.
VERI......................................https://stockcharts.com/h-sc/ui?s=VERI&p=W&b=5&g=0&id=p86431144783
Certainly possible imo.
But would not only be horrific for the stock, would be the icing on the cake that would signify complete and utter failure of the Steelbergs. If a public offering occurs, it should accompany a dismissal of Steelbergs from the C-suite and Board imo.
After ten years, they can't attract strategic interest?
Is it possible that a stock offering is coming? Since they are putting alot of random prs out to seemingly try to boost the stock price
No mention of conversational AI
No mention of generative AI
No mention of aiWARE
No mention of Ask Veri.
No mention of AWS
Again, don't understand the Broadbean acquisition at all.
Anyway, maybe we get a continued bump in stock via rate cuts. Cat get the C-suite to execute on anything strategic.
Traders control the stock.
Today's action probably mostly short term traders that got the stock to jump on relatively benign news
.
Just goes to show if veritone would play the hype game like CS in the old days bet this stock could have hit double digits at some point this year.
Veritone is their stocks worst enemy in more ways than one. Jmo
Sellers always bring this back down at end of day. We need something big news.
Have no idea why the excitement today. At least it's another day of no appearance of a public offering. Can't see how this pr moves the stock like today.
Driving all day will post later
Well guess I was wrong. Amazing had it goes up on non important PRs
Or should I say speculate at next EC. Today's news should see the stock soaring and approaching valuation levels rivaling their peers. What a joke.
It's almost laughable or cry able at this point. We can talk at the next EC.
Again I don't think want to sell but waiting for something else to happen like Fed contracts or maybe total sale but think the former will happen
Interesting that this banking/bidding process has gotten zero reporting from the press.
Not saying it is big news for the world to see, but typically there is at least some reporting, like maybe from an ad-tech marketing outfit or ad-tech news site. And I would think Veritone would want to get the word out and leak it to various advertising media outlets to create more awareness.
Well a PE approached them in Aug of last year. Only started banking process 1q of this year. With supposed multiple qualified bidders something going on.
Think ultimate goal is a transaction that involves more than ad business sale. I think sale of ad business is one option that can be pursued if they can't get acceptable terms for a more comprehensive deal. As discussed, it should not take that long to sell ad business. RS says started the process in the 1st quarter. I think something happens that involves entire company. And their behavior right now does not look like short on cash. No urgency at all to sell ad business. Also, how long do these bidders want to sit around and wait.
And I also find it strange that they would disclose that they were thinking about selling the ad agency. Usually try to keep that under wraps. But going on now for over a year. IMO another misstep.
If selling can't believe tech included. Like u say intertwined. So hard to see selling at all.
Yeah, the sponsoring and expense of attending trade shows, for both M&E and HR tech shows, doesn't appear to be slowing down. The money has to be coming from somewhere.
As for Ask Veri, still only providing a link to the one Ask Veri video on Vimeo. Still nothing on website.
And at IBC pushing ad-tech. Hard to see how they sell advertising business alone, when it appears so intertwined with M&E vertical. Maybe just selling agency business without the tech. I don't know.
On another note it is interesting at least to me that they posted a new job opening for a manager for financial reporting which includes all SEC filings etc. on a contract basis. If you actually need this position filled why on a contract basis instead of permanent position. Don't know what it means but find it strange.
They certainly don't stray from their narrow uninspiring path, at least from an investor standpoint. Again and again nothing of substance. They did mention Ask Veri though. Wonder how they are paying for their presence at IBC. Maybe employees have to pay out of pocket.
So you think there might be something meaningful to that statement? Could be I guess. Something has to happen, and I guess the narrative has all been about 2nd half 2024, so will see.
She feels like getting started. In reality are they?. Better come up with something this week and something major.
No need to worry, Julie Harding says they are just getting started and the journey is just the beginning. lol
https://www.linkedin.com/feed/update/urn:li:activity:7238983720576147456/
Maybe not involved. But based on public info, Veritone supposedly updated their search capabilities with Amazon tech. Supposed go to market with AWS. Signed a SCA with Amazon. Now call AWS their preferred cloud provider.
However the article states that Amazon Q incompatible with other software, and don't think aiWARE has that problem. You're right, who knows?
But after 10 years and millions paid to CS, aiWARE not even on the radar.
Who knows if even involved
Amazon even struggling to make a chatbot that can compete with MSFT Copilot or Google.
Wonder what that says about aiWARE and Ask Veri
https://www.windowscentral.com/software-apps/leaked-employee-discussions-demonstrate-amazon-qs-lack-of-feature-parity-and-potential-loss-of-clientele-to-microsofts-copilot-aiq-is-fit-for-demos-and-very-tightly-controlled-simple-use-cases
Nasdaq up 150. Every Ai related stock up today. Oh except for Veri and it's 100 mil MC and what do we get silence. Yes silence is golden.
They are definitely in no rush or have an urgency for concern about anything. Meanwhile competitors are thriving. Again we wait for EC and their BS and pushing things off until next year. Let's see if they finally beat their ultra conservative guidance. If not puts nail in coffin.
Agree. They have been making promises and false narratives for years. They shoot from the hip and in my opinion have no real strategy or financial or business plan.
Veritone's narrative since under RS as CEO has never made sense.
RS has never given a shit about the stock price ever since he took over.
They don't even go to investor conferences anymore.
When you're trying to compete in several different verticals, as a small company with no cash, the investment makes no sense. The only way it would make some sense is if the underlying platform was more prominent. But they keep aiWARE under the radar.
Maria Moore is worthless from an investors perspective. Al Brown worthless from an investors perspective.
They could be flooding social media with posts about aiWARE capabilities.
None of this has made sense since RS took over unless there is something promising with aiWARE. Don't say anything about the strategic minority investment they are still carrying on the books at cost.
They are in no position to service multi million dollar enterprise deals with the FED unless there is some other partner(s) involved.
But here we are, over 2 months post 7M unencumbered cash, and not reached profitability, and they have no urgency to support the stock. So it doesn't look like a public offering is in the works to me, but they are providing zero reason for anyone to buy the stock.
This was supposed to be the year for "disruptive growth", and RS said 2024 was going to be an exciting year. Why?
12.30 and still can't trade over 100k shares. Veri seems to be on everyone's radar.
The only thing that would make sense to me about Veritone's actions since RS took over is
if there is something more behind the relationship with AWS.
They say scalable AI cloud infrastructure with Veritone and AWS.
They say old version of aiWARE no longer available to new AWS customers but say nothing about new version.
Veritone does nothing to announce new features/capabilities with aiWARE, when it is supposedly the backbone of all their businesses.
Still think there might be something to this AWS Strategic Collaboration Agreement that allows Veritone to realize additional revenue and cost synergies, and that could be why they don't seem to mind the fact that they had 7M unencumbered cash over two months ago.
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