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10k late, will weak hands be susceptible to the CoronaVERUS ?????
Missing filing deadline shouldn't have been a surprise to anyone with a new auditing firm appointed at 11th hour in the cycle.
Overly ambitious to switch auditors in 11th hour of year-end audit and to expect Fins to be filed without delinquency? Time will tell. Keep some powder dry! This too shall pass
Does filing late after the NT extension date tomorrow put the convertible note holders in position where they can claim default and force conversions at sharp discounts to prevailing prices?
Hey JohnBoi just a few more days and the 10k will be filed and you'll have some new numbers to try to spin for your book! most here are looking forward to the improved revs and margins. you?
with change of auditor will they be able to complete and file 10k in the extension period or have to do delinquent for a period?
he's selling, no, you're selling, no, no He's selling!
The real issue here are the games being played to get this bigger financing completed. VRUS was in NYC in November at NIBA with a term sheet, then went to LD Micro and talked with investors about a pending financing and now in the tweet earlier this week, Anshu said, "New commercial credit and larger financing will take care of the bulk of our growth initiatives this year"
Until the equity component is completed or completely removed from the equation, investors and bankers will continue to play pricing games and thus the heavy offers we saw in November and now in January.
The growth of VRUS needs cash especially with the expansion of the new lines and recent acquisitions.
Down goes Frazier? Going to test last November low?
Paulson (PAUL) leading the pricing of the next financing Deal? They came on the box around the time of Anshu's tweet about a bigger financing
It will be interesting to finally learn in the pending 10k if the early payment of the notes in October were paid off with cash or discounted shares which would account for the substantial increase in activity and selloff OCT and NOV
On a disappointing note, VRUS team was at NIBA and LDMicro with a financing term sheet and appear to have not been able to close and so revert back to the convertible promissory notes market longs hate.
Wash, rinse, repeat?
Starting to see some rusting!
Time will tell.
Good post. Agreed!
thank you Pro-Life, I was being sarcastic about John Boi!
JohnBoy.... Net Income is not a required component for uplisting on Nasdaq Capital Markets under one of the listing standards criteria! Do you do due diligence or just post nonsense based on how you're trading your book?
HAHA, common language in Risk Factors for emerging growth.
Going to test old 52 week high this month prior to year end fins? Probably so!
Rick Berdon selling
Nest, and at the LD Micro they illustrated with additional funding they project $100+ million revs for 2020 :)
PSA - ACSM MM code changing at close of business to DICK
I'd expect the pending Convertible fixes balance sheet for uplisting
Shotsky may I suggest you follow the link below to the NASDAQ listing requirements and listing center!
You'll see on page 9 of the NASDAQ document, that to uplist on the Nasdaq Capital Markets tier, a company can uplist WITHOUT and operating history and WITHOUT income if it meets the other shareholder equity, market cap, number of shareholders and price!
https://listingcenter.nasdaq.com/assets/initialguide.pdf
John/Bai, don't be lazy and do some more research! There are several listing paths for Nasdaq including a path where revs and earnings are not reviewed or required and it's more on number of shareholders, net capital and market cap. That's the path that emerging biotechs follow!
from a banker at NIBA, from a syndicate Manger in NYC same week as NIBA and from an investor friend that met with VRUS ceo and cfo at LD Micro and was told they're doing a convertible with a conversion floor.
Tool, maybe so, but Mphase is doing PowerUP convertible note deals which could have dire consequence in future pricing if not careful. Hoping the deal being shopped by VRUS, while convertible will not end up with the PowerUP Lending group types. That will be the key to reversal and building from looming VRUS financing.
They mentioned to some in attendance about a convertible financing. Reason for volatility me thinks!
pressure on stock = financing
The stock was under pressure in November when they were in NY and at NIBA with a convertible term sheet for financing. Obviously it did not get funded.
They were at LD Micro this week and again discussed a convertible financing with some investors and may be the recent cause of selloff as some position to participate.
Git er done so it's stops influencing near term price!
the horses are on the track
ROTFLMAO at your LOLs
UMD you should be able to reach Anshu at Verus, mPhase or Blue Capital Group. He's ceo of all three companies. mphase trades on the otc as XDSL and shares the same cfo chris cutchens as verus. They're accessible but sometimes wear a few hats.
I'd love to see a forward looking chart for revenue growth showing past three quarters and then next four with the core business (triple digit growth) adding on French Fry business, the projected BLF ($14 million year one) and the Nutribrands ($18 million year one). The visual of that that chart should speak for itself. Current $30 million market cap is cheap!
Nest, a pretty good report card. TU!
Welcome to NIBA. If you go in raising money they shave you!
#SIBE coming to life? Chinese re-engaging? Anyone heard anything?
#SIBE showing signs of life. Anyone heard anything, are the chinese re-engaging?
I would bet it's related to a pending financing. Stock been under shorting pressure for a few weeks, they attended and presented at NIBA and they're on a growth & acquisition drive = all financing!
filed in conjunction with the prospectus cleared shares
Surface, today's conference does not have investors! It's attended by corporate finance guys and syndicate managers from the smaller BD world. Financings and pipes are structured, peddled and sold sold at NIBA.
It's a closed group. They have about 20 companies for the day. Presentations in the morning and then follow up meetings in the afternoon. Mostly attended by Corporate Finance and Syndicate managers from the small BDs. Usually a deal show where financings are pitched or closed shortly after the conference.
No, not there this time. Colleagues there keeping me updated. R
Yep, both Bhatnagar and Cutchens represented and presented as ceo and cfo for VRUS this morning and then minutes later stepped on stage representing and presenting as ceo and cfo of XDSL. Are both companies completing a financing?
How much time do Anshu Bhatnagar (VRUS ceo and XDSL ceo) and CHris Cutchens (VRUS cfo and XDSL cfo) put in on each company. Always heard it was difficult to ride two horses with one ass???
Surface, I hear it's $200 to post news on ihub. peanuts!!!