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Other than the momentarily blip where Microsoft paid a licensing fee to (then SFOR) to kill the patent infringement lawsuit, the stories have been pretty much the same for the last 20 years.
Says Mark Kay: "Big deals coming next year. We can't say too much and we know that we've said this before, but this time I have a really good feeling!"
Mark in private: "I just shut them up for another 12 months. This will l keep the scam going so I can collect my generous paycheck and benefits. What a bunch of saps!"
One more change over the last 18 months or so is how Onstream Media sued ZRFY for patent infringement. Per the notes to the financials: The above Onstream litigation has been resolved subject to a Confidential License and Settlement Agreement.
Oh the irony.
Is Rory planning to sell? What is there to sell?
The balance sheet doesn't list any intellectual property (patents or copyrights trademarks). There is $ 4.5 million of capitalized software development costs, but that's just money that Rory has pissed away that hasn't hit the P&L yet.
Note this gem:
In August 2021, the Company entered into a term sheet that provided the Company the option to purchase the Primary Contractor provided certain conditions are met. In November 2021, the Company exercised this option. The Company and the Primary Contractor subsequently reached an agreement-in-principle on the terms for the Company’s acquisition of the Primary Contractor, the final consummation of which is subject to the execution of a share purchase agreement (the “SPA”) and the completion of an audit of the Primary Contractor that is satisfactory to the Company (the “Primary Contractor Audit”), as well as the fulfillment by the Primary Contractor of certain other conditions set forth in the term sheet. The term sheet stipulates that if the Company had entered into the SPA and the Primary Contractor had the Primary Contractor Audit successfully completed prior to May 22, 2022 (or a subsequent mutually agreed upon date) and the Company thereafter determines not to consummate the acquisition of the Primary Contractor, the Company would have been liable for a $1,000 break-up fee payable to the Primary Contractor. However, as of May 22, 2022, the SPA had not been executed and the Primary Contractor Audit was not completed. The parties are still working together and in discussions regarding the transaction. Based on the term sheet, the purchase price for the Primary Contractor would have been $12,000, which could be paid in cash and/or stock, although the final terms of the acquisition if pursued will be set forth in the final executed SPA. There can be no assurance that the acquisition will be completed on the terms set forth in the term sheet or at all.
They've supposedly been working on an agreement to buy the underlying technology used on the Market platform (presumably the company being Viimmi) but after more than 2 years they haven't struck a deal. And Rory put VERB on the hook for a $ 1 million break-up fee (amounts shown in the paragraph above are in thousands) if the deal is called off.
In my area many towns and counties are either constructing new pickleball courts or converting existing tennis courts.
My town spent tens of thousands extra to purchase noise deadening "blankets" that surround the pickleball courts on 3 sides to keep the noise level down. I took a walk through the area on Christmas morning and the courts were all full. On the sides where the blankets were present the noise was very muffled. On the one unprotected side (that faces a football field) the sound of the PING was quite prominent.
Indeed there was a "first" pickleball channel. I invested in it. Lost everything. Turned out to be a total racquet.
Perhaps try checking Mark's couch cushions for your money.
The acquisition was announced right after the company received millions upon sale of the SAAS business. They had the cash at that moment. The question was how Rory would squander it.
It will also be interesting to see how much of the debt that was repaid was money owed to Rory. It could turn out that a good chunk of the money VERB received for the SAAS business went to Rory rather than to acquire the revenue producing company.
My earlier post commenting on Rory's year end letter included financial information for another company's filings.
Please disregard.
Be sure to read Rory's year end letter to shareholders! It's classic Rory pivoting and bullshitting.
The long anticipated deal to acquire a revenue generating company is off the table. Fell through. But what happened to the millions of dollars that were earmarked for that purchase? The September 30, 2023 balance sheet shows that the company has $ 34,000 in cash. WTF Rory?
The letter states In the past 6 months, we paid-down approximately $5.5 million in debt, representing a 66% reduction.. The September 30 balance sheet shows that total liabilities (removing the derivative liabilities) are still up from 2022. There could have been a pay down of debt since September 30. We will have to wait until the next quarter end. We know that Rory took a good chunk of cash to pay debt owned to HIM.
Ending with the classic "it's always someone else's fault that our stock price is in the trash"
Of course I recognize that we are all disappointed with the current share price caused by a combination of unprecedented, prolonged poor capital markets conditions and the corresponding machinations of bad actors.
I stopped trading because I don't have the time to do company research. Besides, I think it's been proven that, especially when considering the tax implications, most investors would be better off in broad market index funds. So that's where I sit.
I have an acquaintance who's a broker and he will occasionally suggest that I give him some money to invest on my behalf. In particular he had a beaten down tech play that he thought was interesting. I watched it go up by about 20% in a matter of a few weeks and kicked myself a bit for not acting. Then the company came out a quarterly that missed both revenue and profit targets and laid out a gloomy picture for the coming year or two. The stock immediately dropped below the level where I started matching it.
So any thought of actively trading went out the window once again.
Market frequently cites its "partnership" with brands such as Target, Athleta and Best Buy and yet still the company generates almost no revenue. I just popped in on a Market livestream show. Including me, there are 5 people watching. Subtract the people employed by Verb who are tuned in to monitor the status and there might be 1 or 2 people watching. Or maybe someone has set up their computer so their cat can watch.
The company is a joke.
Not an engineer. That video (and there are several similar ones) have been around for a while. I watch it every so often when I want to be dazzled by bullshit.
As Jerry Seinfeld would ask..."Who are these people?"
Other than traders looking to make some beer money when a poor sap buys on the ask, I think pretty much everyone knows that this is a scam and will admit it.
Omitting than the 3 amigos, of course.
So the 3rd quarter financials have been uploaded to EDGAR.
The good news is that all the hard work that Mark and the team have been putting in seems too have paid off. /s
Revenues for the quarter were actually UP year-over-year. From $ 22K in the quarter last year all the way up to...$ 25K in the quarter this year. Sadly, revenues for the 9 month period decreased from 2022 to 2023. But no matter, since revenues here are just an afterthought anyway.
The loss from operations was over $ 500k for the quarter (down from $ 1.2 million in the same quarter last year) and for the 9 months the loss was "only" $ 2.5 million, down from $ 6.6 million in the same period last year.
The company continues to need influxes of cash. There were only $ 37k in current assets ($ 34k of that in cash) while current liabilities were at $ 17.5 million, an increase from last year. Accounts payable alone is $ 1.2 million. The balance sheet also shows that several notes are in default of repayment terms. No surprise there.
The big "no news" is no word on the super duper customer deal that was in the pipeline. The name of that customer was supposed to be revealed months ago, but alas, Mark has proven to be a liar once again. The subsequent events section of the 8K just talks about the issuance of new shares - to pay a consulting bill and to bring in cash (because Mark and his crackerjack team need to get paid or else they might....leave?????).
Another disastrous quarter for a company whose very existence is solely to put money into the pockets of the 3 amigos and, per a prior post, to put money into the pockets of their sons. A true multi-generational scam.
It was George Santos, wasn't it?
I once knew someone who lived in Brazil for quite awhile.
Some comedian (whose name I can't recall) said that he has no interest in a threesome because he only wants to disappoint one woman at a time.
The Rockwell Retro Encabulator is quite a feat of engineering:
It's been a very long time since I actively traded. I still hold onto shares in companies that I bought decades ago. The downside is that many of the companies spun off a bunch of divisions that became their own publicly traded entities. Then some of those spin-offs were acquired. Trying to keep track of cost basis (for tax purposes) is a nightmare.
Your story of a potential investment in a color TV company reminded me of a scene from the film "Defending Your Life," a comedy classic. In this case, the failure to invest was...costly.
Will getting a judgement against Lake that sends her to the poor house finally get her to shut the F up?
Perhaps TFG looks at Nauta and has determined that he's part of the "poisoning the blood of America" problem.
Like TFG's mom. Who was born in Scotland. But she gets an exemption because...she's white?
In the olden days, when the only way you could buy or sell stocks was through a broker, a buddy's brother-in-law was a stockbroker. I was in my mid-teens and had made a few grand saved up. I spoke to the broker and he had two stocks in mind: Both were VERY boring companies in their infancy at the time. One made computerized crop planting controllers for farmers (when no such thing existed) and the other made test equipment for factories. I split the money between the two companies and both did very well.
Now, with people making their own investment decisions based on what their barber told them or what looks "cool" on the iHub breakout board, and being able to make a trade with a few clicks or taps it seems the odds are considerably more long.
Advice from a professional can be helpful.
I've often wondered how many people make money on their first investments
Amazon allows influencers to have shows at ZERO cost. I don't know how Market can complete with that.
Thanks for the link. A few points:
1) So the ad exists. Where is it appearing?
2) Mass market TV is a questionable choice to reach influencers. Case in point: I think the only two people in the ad that are over the age of 40 are Sergio and Tiffany. The others are not likely to be watchers of the major TV networks.
3) Minor quibble: The narration states "less headaches." It should be "fewer headaches."
Market.live has two livestreams today and one on Thursday. Then 5 streams next week. Then nothing until after the new year.
Rory's team is killing it.
Has anyone seen the TV commercials that were supposed to start airing on Monday? I missed Monday Night Football this week. Perhaps the ad ran during the game? Maybe Rory is buying time during the SuperBowl?
Let us not forget that a group of Coloradans subjected the entire country to Bo Bo the Clown.
This is information that was given to me by someone who is "in the known" on such matters...
Put yourself in Mark's position. I don't mean as a scammer who gets paid hundreds of thousands each year to spew lies, but as the CEO of any public company.
You only have bad news to report and that news will make it crystal clear that you've been spewing nothing but lies for the last 20 years.
Wouldn't you want to postpone revealing that info as long as possible so you can continue to dump shares into the market so the paychecks keep rolling in?
Anything that Mark does (or doesn't do) is for his personal benefit. As a fiduciary he is a total failure and he should be removed along with all of the executives of this sham company.
On November 13, 2023 the company filed an NT 10-Q indicating that the Q for the 3rd quarter would be filed within 15 calendar days of that date. That would be on or about November 28.
Of course the company failed to meet that deadline, hence the notation on OTC Markets that the company is delinquent in their filings .
Yahoo finance shows earnings due December 18 through 24th. I have no idea where they got that information, but it's wrong. Earnings were due by the end of November.
Kay lies every time he opens his yap and whenever he releases a nonsense PR. Throw the NT form onto the pile of lies.
Where are the MARKET.LIVE TV commercials that are supposed to start airing today?
If there is someone who is silly enough to buy products on Market, note that you can game the system by purchasing Market gift cards. For every $100 you spend you get $120 in cards. That's like getting a 20% discount on whatever you buy. You want to use those cards quick, though since they could become valueless if the company throws in the towel.
Link: https://www.market.live/portal/s/gift-channel/pc/home/decor/p/market-gift-card-1-c-4/
TV campaign starting December 18.
So...too late for the holiday shopping season. It's well known that people tend to overspend on the holidays, then they pull back on spending for several months thereafter.
But even bigger...TV advertising? Really? Does Rory think Market's core audience are people over the age of 60?
He really is an idiot.
I have to give the VERB team some credit... Since it first went live, Market.live displayed the time of upcoming shows in 24 hour format. 1400, 1800, 1930. Generally speaking, we don't use a 24 hour format. We use AM and PM.
FINALLY, the times are being displayed as AM and PM. It only took 2 years.
A simple under/over from the 2nd quarter would be interesting.
From my November post:
Revenue last quarter was 19k and a net loss of more than $ 900k. For a 20+ year old technology company.
When the latest quarterly is released, will we see revenue above or below $19k? Will the quarterly loss be more or less than $ 900k?
Liz Magill has resigned as President of U Penn.
The Chairman of Penn's Board of Trustees, who announced Magill's resignation, resigned himself a short time later.
In memoriam...
The memoriam segments always hit me in the feels 😭
— Jack E. Smith ⚖️ (@7Veritas4) December 8, 2023
pic.twitter.com/PWkGPI9RNq
Ah, Payooze. Eddie claimed that his (imaginary) team of programmers were ready to launch any day.
Any day.
Aren't Vanguard and other institutional investors obligated to own MULN as part of their total market funds? Owning shares isn't discretionary. It's mandatory.
Assume everything that Mark says is a lie and you will know the answer to your question.