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The revenue recognition is going to be interesting.
When things were sold through the Market platform, VERB did not take ownership of the items being sold. The only revenue they booked were the commissions from the sales of items sold by the 3rd party sellers.
Now cometh TikTok where it would appear that the two twenty-somethings are selling crap that, at least in come cases, they purchased from Temu. If it's accurate that VERB owns that inventory (which opens up a whole other area of uncertainty) then the full amount of the sales of those products could be thrown into the revenue line of the income statement, partially offset by the cost of goods and then wildly whacked by the tens of thousands in SG&A expenses each and every day.
So it will indeed be a flood of red ink, but the revenue could be a lot more than we've seen in prior quarters because their business model has changed.
Again.
Do you have USPS Informed Delivery, which sends you a daily email with scans of the mail pieces you are scheduled to receive that day?
It's far from perfect, but I pick up my mail once or twice a week because, as you say, most of it goes straight into the trash. With Informed Delivery I know when something important will be arriving that day.
On August 5 a payment of about $ 20k was made against the past due property taxes on the 510 Hamilton Street property. Almost $25k is still owed for the 4th quarter of 2023 and the full amount of property tax for the 1st, 2nd and 3rd quarters of 2024 are now past due.
The property owner (whoever that may be) is drowning.
Source: https://wipp.edmundsassoc.com/Wipp/?wippid=1808&modFilter=TU#taxPage24681
I'd love to see what that hair looks like if he got tossed into any body of water.
Oh dear! I strongly suspect he can't swim.
The statement was "adults duty to care for children" so not just parents. Society.
And yet:
Expand Medicaid to care for children in poor households? Red States: F 'em
Provide breakfast and lunch to all school children so they are guaranteed at least two meals a day? Red States: F 'em
States were offered $ 120 each summer to distribute to families of school age children to provide meals that they would ordinarily get during the school year. Oklahoma, Iowa, Nebraska (red states all): Nah, let 'em starve. Source: https://www.publicradiotulsa.org/local-regional/2024-01-04/oklahoma-declines-to-participate-in-federal-summer-food-program-for-children
Gov. Kevin Stitt’s office says the state will not implement a federal summer food program for children because U.S. Department of Agriculture rules for it aren’t clear.
I have a customer where the two top managers are Christopher and Christine, but each prefers to be called "Chris."
To keep things clear, in our office we refer to them as "Boy Chris" and "Girl Chris."
Had another customer where the top guy was named Tom and his subordinate was named Jerry.
Did you watch "The Waltons" starring Michael Learned?
I see that she's been married 4 times. None of her husbands were named "Michael." That would have been confusing.
https://en.wikipedia.org/wiki/Michael_Learned
Such low energy.
He knows he is going to prison.
His base will vote for him no matter what. But he needs a significant number of undecideds and independents to win in November. Who is their cotton picking mind would listen to this grievance whining and lie filled rant and say to themselves: "You know, I wasn't sure who I was going to vote for in November, but TFG has convinced me that he's the better choice."
I'm all in for him to have these press conferences. At least 3 a week, please.
I'm surprised the Representative didn't push back on the Doctor's response.
I'm sure that Bobo or MTG would have.
1:120,000 is child's play.
One company I've been following has a cumulative (since 2008) RS ratio of
1: 4,875,000,000,000
And the current price is 0.000001 (on the expert market). 3 top managers draw 300k+ salaries.
I ordered one just now. Used coupon code "JANICE" to get $5 off.
It's due here on Monday. Thanks!
In between cooking up some tasty Korean BBQ, John Park is finalizing a cure for cancer! He is donating the results of his research to all SPOOZ shareholders because he's just that kind of guy.
Wow, these guys have their hands in everything !!!
Exactly. Rory is drawing almost $ 1 million out of the company every year. Now he's travelling the world on the company's dime.
Rory has fashioned himself to be some sort of tech startup guru. His continuing relationship with VERB puts that aura into question.
But $1 million a year softens that blow a bit.
Why would that pos shut down his golden goose?
Rumor has it that Josh met Kamala in a hotel suite and he couldn't keep his eyes off the sofa. KH could not take a chance that there was going to be something weird leak out about JS.
Did he show up at an airport in Minnesota with a big suitcase?
And then a new generation of bagholders will bail out the old bagholders.
A financially savvy but amoral approach.
It's Rory we're talking about, right?
He would have failed selling ice cream, too.
Now that I think about it, Verb would’ve done much better selling ice cream, lol…
Property tax includes a municipal portion (which incorporates local and regional school taxes) and a county portion.
Typically the municipality passes their budget first which establishes the municipal tax rate. Then the County passes their budget which establishes the County rate.
The municipality sends out bills that includes both amounts. When the muni receives payment it passes a portion to the County.
The method of reassessment can vary from one town to the next. In my area they normally do it every 10 years or so. They send someone to each and every property in town and check to see if there were any substantial changes made to the property, particularly those where a permit was not pulled. A permit for a major project (an addition, installation of a pool, etc.) typically kicks off an automatic increase in the assessed value. Some towns do a rolling re-assessment where they break up the town into, say, 4 sections and do a re-assessment of one section every 2 years.
It's expensive to hire a firm to visit every property in town so many avoid doing it. The Counties are wise to this and therefore I guess they just assume a general increase in value across every property in the County regardless of the town's own assessment.
The town does not typically foreclose on a property. As I noted in my earlier post, the municipality sells the debt to a 3rd party. That 3rd party pays the back taxes and interest. That 3rd party then goes after the property owner to collect. And if they don't collect for 2 years then the 3rd party begins the foreclosure process.
I don't know what payments are required to stave off a tax sale. If I get time I will ask my expert and will report back.
At a minimum the tax rate has almost certainly gone up. Every municipality is being squeezed by increased costs. Wages typically go up by 2 to 3% every year. Health insurance costs went up, IIRC, about 30% on the State Benefits plan in New Jersey. All of those costs factor into the municipal budget and they calculate the rate based on the amount they are going to spend.
What would cause the tax due on the property to change? Tax rate changes? Reassessment of the building?
Rory is probably pleading with TikTok to buy Verb. Anyone who knows anything about China realizes that if they want to "use" someone else's technology they reverse engineer it and incorporate it into their own products.
In other words, they steal it. That's assuming that Verb has anything of value which is entirely unclear.
I'm sure he flew first class and is staying in a top tier hotel. Because an executive of a company that does $ 30,000 per year in revenue has to travel in style and comfort.
Half credit, KAM.
The bottom of the screen shot shows that the last payment was made on July 29, 2024. What I failed to notice previously is that there is still an unpaid balance for the 4th quarter of 2023 which is why is still shows as "OPEN."
When a payment is made, the tax payer cannot designate how they want that payment to be applied. It automatically gets applied to any unpaid interest first. NJ municipalities have the option to charge an additional 6% penalty on tax amounts that have accrued interest due of $ 10,000 or more as of year end. That may be why there is an amount in the Adj Billed column for that 4th quarter, although I'm not certain.
The July 29 payment was applied against interest due as of that date for ALL of the past due tax amounts (through the 2nd quarter of 2024.) More of the payment was applied against the year end penalty.
And then the remaining amount of the payment went against the 4th quarter 2023 taxes. The $ 42,120.68 past due amount for that period continues to accumulate interest daily at the rates I cited (18% on the bulk).
There is a process by which the municipality sells its interest (no pun intended) in the open balance in a tax sale. The process is a bit complicated. More info here: https://www.njlm.org/DocumentCenter/View/8541/Tax-Sale-101
Essentially the debt to the municipality is sold to a third party bidder who then makes payment to the town to clear up the debt. The debt purchaser then can file a lien against the property. If that lien remains for two years they can foreclose.
The owners of 510 Hamilton are probably trying to make payments sufficient to prevent their property from being included in a tax sale. It's like the old spinning plates act, though. Eventually a plate may hit the floor and the act comes to an end.
IMO, anyone with options is not going to let a debt accrue interest at an 18% interest rate.
Doesn't the word "PAID" have to appear in the ''status'' column on the right? The last payment they made was on August 1st of last year, correct?
Surf: the info you posted is out of date. Here is the most recent, which reflects a payment that was made on July 29, 2024.
The payment that was due on May 1, 2024 has not been made so interest continues to accumulate at the rate of 8% per annum on the first $ 1,500 and $ 18% per annum on any amount over $ 1.500.
A payment was due on August 1, 2024. There is a statutory 10 day grace period but if the amount is not paid by the 10th day, the interest is calculated starting on the day after the original due date, so August 2.
He is also insisting on a live audience so his fans can hoot and holler.
Rory's compensation was just shy of $1 million last year.
Of course they have to dilute just to pay the 3 top dogs.
Meanwhile the chicas who appear on the TikTok channel are probably making $ 100 a day. At most.
Interesting response to my post.
Rory is busy interviewing new people for the Sheriff's position.
Because, you see, the tanking stock price is a result of people saying bad things about the company. It has nothing to do with the fact that the company has $ 40k+ per day in overhead and is bringing in a few hundred dollars a day in gross margin on the crapola they sell on TikTok.
It's mental illness, Janice.
Clearly.
What on earth has got into her?
Well, yeah a liar, but that's a given every time he has a thought or says a word.
TFG's point was that, as he has said so many times, "I ALONE CAN FIX IT."
And yet, Biden and his team fixes it, and then TFG goes onto his two-bit Twitter clone and rants about how it must have been a bad deal to get the prisoners released.
Walz came onto my radar a year ago when he signed a bill that provides free breakfast and lunch to schoolchildren.
Of course, the Minnesota House republicans tried to block the bill.
You joke, but in TFG's racist mind you are 100% correct.
Was he expecting them to wear face paint and feathers?
Correction: He actually said that Putin would make the release shortly after TFG is elected President again. Because he at Putti have mutual respect for each other.
Sickening.
Well, "sew" can mean different things.
Re-attaching a button is probably something I could handle, although I can't recall the last time I did so.
Sewing something new is an entirely different level. Remember the Seinfeld episode about the "Puffy Shirt" ?
When I was in Junior High the girls took home economics, which I think included cooking, baking and sewing.
Us boys took shop class. We rotated among different disciplines: metal, wood and engine. There's nothing more exciting than putting a drill press or a pair of tin snips into the hands of a 12 year old. There were some minor incidents that drew blood but, as best I can recall, we all finished out the year with all 10 digits intact.
Good times.
Did your mother also store her sewing supplies in a Danish Butter Cookie tin?
Especially since TFG said that Putin would release Gershkovich on the day of TFG's inauguration. Our of respect for the Orange Turd.
Remember how Rory made a big deal about how VERB had enough cash in the bank to support the company for at least 12 months?
I wonder if the debt holders who converted their loans into equity were smart enough to get the hell out as soon as the conversion was completed.
That is a horrible analogy.
Let's say you were on a message board where cars are discussed. You're thinking of buying a Mercedes Benz so you go into the MB forum and mention that you are considering the purchase of a C300 sedan.
There may be people who will say they own a C300 and they think it's a great car and encourage you to buy one yourself. There may be people who say they owned a C300 and they hated it and discourage you from buying "that POS."
A "discussion" would have the original poster asking the "hate it" guy what he hated about it. The hater might state valid reasons (my engine blew up after 50,000 miles) or his opinion might be as a result of something petty or unreasonable (my dog chewed up the leather seat and the dealer refused to repair it under the warranty).
The same discussion might also involve a mechanic who has never owned a C300, but he's worked on them. If he says "changing the oil in the C300 is a giant pain" that might be meaningful to you if you change your own oil. If you don't do that kind of maintenance yourself, then the difficulty of changing the oil would not matter to you and you can discount that opinion.
Restricting the discussion about the C300 to people who own a C300 and love it is of very little value to someone who is considering buying a C300.
The same is true about discussing stocks on iHub. Do you want to only hear from people who own the stock and love it or do you value input from people who don't like the stock (whether they own it or not)?
People can ignore posters that don't share their opinion...about a car or about a stock.
I would want to hear both sides. Anyone who only wants to hear the positive is not a smart investor.
RE Perfect:
" It would be like joining a cooking forum to learn how to become a better chef, but every time you try to get excited about cooking, a large group of people who hate cooking appear, and attack you relentlessly for trying to cook. Not one single aspiring chef would hang out in that cooking forum for very long, and sure as hell would stop paying for that forum if they did, and quickly find someplace else they can go."
Yes. In a bit of irony, a few weeks ago I made a post on iHub mentioning that the mods on iHang create an echo chamber by removing posts that are not rah-rah about a particular stock. Someone must have reported my posted as violating the iHub TOS. I appealed and Shelly responded that my post discussed moderators and was therefore a TOS violation. I replied to Shelly noting that my reference was about iHang mods (not iHub mods).
Shelly never responded. Which was nice.
And it seems that their preferred fix is for IHub to be reduced to a giant echo chamber.