Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Rory J. Cutaia on the Big Biz Show
Yes, I've thought about it...I need to check the paperwork to see what the payoff $ is.
After 33 months the car has fewer than 17k miles on it. It's probably worth quite a bit more than the payoff.
It seems that a lot of the supply chain issues have eased considerably.
I lease a company car on a 3 year cycle. My current term is up in September. The dealership has been pummeling me with snail mail, email and phone calls trying to get me to terminate my lease a few months early and to pick up a new car. Apparently they have plenty of them.
I'm with you. Patience.
Bingo. Assuming that TFG still holds a commanding lead he would only be setting himself up for making a blunder. Of course he would be chomping at the bit to hurl insults at the other potential nominees...so there's a small chance he will show up just for that.
I don't think Trump intends to participate in any debates.
In March, the WSJ ran an article about how the heydays of the RV market are over. Lots of people during Covid looking for a way to travel while not having to interact with those outside the family.
Boom...bust.
Not a bad idea to diversify. Whether cupcakes is the best way to do that is unclear.
And let's not forget that Christie was part of TFG's debate prep team in 2020.
As I said, if he happens to do damage to TFG and to DeSantis I think that's terrific. Christie tries to come off as being moral and above the fray. He's not. He's just another a**hole politician.
Is "approval" the same as asking if someone has a positive opinion about someone?
From the Crumbs Wikipedia page:
Crumbs was the largest cupcake chain in the United States.[3] It produced more than 50 varieties of gourmet cupcakes. Crumbs reopened on October 14, 2014 at its Broadway location in New York and other locations after a three-month shutdown, and then closed all of its reopened stores permanently in December 2016.
I live in New Jersey and voted for Christie twice.
But then...Bridge-gate happened and despite Christie professing that he had no knowledge of the plot, I never believed him. He also abused his access to a State Police helicopter, flying around to see his son's high school sports games.
And when he allowed the entire State Government to shut down, he plopped himself down in a chair on a closed public beach while ordinary citizens of the State were prohibited from being on that beach.
Christie has a lot of things to say about Trump, and I hope he hurts both TFG and DeSantis, but Christie has plenty of his own baggage that would never allow me to vote for him again.
He's a politician, after all.
Have you ever watched episodes of The Profit on CNBC? I don't think it's in production any longer.
The "star," Marcus can be insufferable at times, but each episode is supposedly a naked portrayal of his efforts to either save a failing company or help a modestly successful company expand.
There have been many instances that he made a deal to buy a portion of a company, but then walked away (sometimes after throwing lots of money into the venture) because he found that the principals lied...about financials, about costs, about customer relationships, etc.
Lots of DD is important.
Ads...on Market? PULLEEEASE.
To sell ads you have to have visitors. To have visitors you have to have compelling content.
Market.live is a joke. A joke that Rory spent many millions of shareholder dollars to create. Because HE was (and is still) convinced that it's a good idea.
I can't vouch for these numbers, but when searching for web site ranking it shows that market.live has had 4800 total visits in the past month. That likely includes bots (like Google) that crawl sites. The average time on the site is less than 5 minutes. Most of the live shows on Market run at least 30 minutes. Some upwards of an hour. People may look around, perhaps they even start to watch a video. Then they bail. Quickly.
People are not visiting the site. People are not watching the crap content. There is no reason to expect that any of that will change. Revenue for the entire 1st quarter was TWO THOUSAND DOLLARS. Think about that.
ZRFY paychecks going out tomorrow.
Gotta have the cash to cover them.
ZRFY already owes $ 1.5 million to a group that funded its prior patent litigation. Finding someone who will finance more litigation (the only way ZRFY would end up winning money against an alleged infringer) could be challenging.
Besides, why would Mark bother? He sits back in his easy chair, plays golf or does whatever and watches the paychecks come in every month. You think he wants to start getting involved with lawyers, depositions, expert witnesses and all that? That's work!
Note 8 – Contingent Payment Obligation
On September 6, 2017, the Company entered into a litigation funding agreement with Therium Inc. (subsequently Therium Luxembourg) and VGL Capital, LLC (collectively the “Funders”) for financing of $1,500,000 from the Funders to allow the Company to pursue patent enforcement actions against alleged infringements of its patents. In exchange for the financing, the Funders are entitled to receive( after the payment of legal fees), the first $1,500,000 from the gross proceeds of any claims awarded, 10% of any additional claim proceeds until the Funders have received an additional $7,500,000, and 2.5% of any claim proceeds thereafter. The Funders are to be paid only if the Company achieves recoveries of claim proceeds. At December 31, 2022 and 2021, the Company has reflected the $1,500,000 received from the Funders as a contingent payment obligation to be paid only if patent enforced claim proceeds are recovered.
There are multiple methods for MFA.
In the 1980s (pre-internet) a friend had remote access into her employer's mainframe. She would dial a phone number and punch in her access code. The automated system would say "Hang up now...I will call you back." Based on her access code, the system knew her home phone number.
A second later her phone would ring and she would place the handset into an acoustic coupler. She could then sign into the mainframe on her dumb terminal.
You can be sure that there was plenty of profit tacked on by the production company.
Vain people will pay whatever in order to be the center of attention. ESPECIALLY when it's someone else's dough, as it was with Rory.
Ever been pitched getting a listing in a "Who's Who in XXXX" The publishers sell acrylic "awards," wall plaques and other stuff all playing to people's egos.
And don't get me started on those SUPER LAWYER publications
LOL. Gamblers gonna gamble.
I prefer to invest in more stable ventures.
It's all about the Yucks.
But why do you spend your valuable time posting here if you have such a dismal, hopeless attitude about ZRFY’s future potential?
I don't know who buys crap OTC stocks based on charts or based on anything else. To me it's all a game of hot potato (or musical chairs) with each buyer hoping that they can unload onto the next poor sap in line.
Net cash burned in the most recent fiscal year was $ 4.2 million (incredible in its own right).
If there was any significant deal signed we would have seen an 8k.
That cash shortfall has to be covered by printing out more shares.
And so it goes...
If I was to rub it in I would point out that the (double) reverse split adjusted all time high for VERB is $ 600 per share.
Rory's leadership had burned through many millions of shareholder's money while he lined his pockets with millions for himself.
And he has the hubris to appears on AppleTV portraying himself as a successful entrepreneur.
He can only live on the success of TELX for so long.
The company was losing massive amounts of money. While the SaaS product was the only meaningful source of revenue, getting that business cash flow positive wasn't even on the horizon. Cashing out might not have been a bad move since it cast off most of VERB's expenses including employees, which represent the bulk of the overhead.
That Rory blames the economy and other non-Rory factors is typical narcissist behavior which is just precious. I will allow him to take one of the office pillows to cry, but I want it back after the office is closed and the furniture and other asset are sold.
The question is what can Rory do with what Verb has retained. After nearly a year of operation (and the much touted ShopFest) Market revenues are virtually non existent: $ 8000 run ran for a full year.
The beauty of bifurcating the business is that we can now see what Market is doing as a stand alone business. Which is, to say, not much except generating huge losses.
Could that change? Doubtful. But at this point the company has no other options.
The next thing to watch is what happens when the stock loses compliance with NASDAQ's $1 per share rule.
Quick fun facts:
The stock is down 95% in the last 12 months
The stock is down 76% since the 1:40 reverse split that took effect a little over 3 months ago (stock price was $ 4.32)
The stock is down 97% since its 12 month high of $ 35.60
At the current $1.10 price point the pre reverse split equivalent is less than 3 cents
Reminder: Rory is not to blame for any of this. He's just the CEO.
Well, yeah. And perhaps if I click my heels 3 times I will become 6 foot 3. Expecting things to change after 20+ years of Mark's bullshit is beyond wishful thinking. It's delusion.
The only reason the company exists is to stuff dollar bills into the maws of the 3 guys at the top. That money comes from the poor saps that buy OTC stocks.
There would be no need for such a large increase in AS if there was one bit of truth to his claim that a big contract was coming “within weeks”.
What makes you think that Mark is desperate?
On June 13 the company filed to increase the authorized number of shares from 4 billion to 10 billion:
The approval of a Certificate of Amendment to the Company’s Articles of Incorporation to increase its authorized common stock from four billion (4,000,000,000) to ten billion (10,000,000,000) shares representing an increase of six billion (6,000,000,000) Shares. The Certificate of Amendment will not be filed until at least 20 days after we file the Information Statement with the Securities and Exchange Commission and deliver the Definitive Information Statement to our shareholders of record.
The above Corporate Action was approved by 3 shareholders holding 80% of our voting power on May 23, 2023 by written consent in lieu of an annual meeting of shareholders.
As of May 23, 2023, there were 1,358,017,570 shares of Common Stock issued and outstanding. In addition, as of the close of business on May 23, 2023, the Company’s Articles of Incorporation currently authorizes the issuance of up to 4,000,000,000 shares of Common Stock, par value $0.0001 per share. The Company has raised capital for its ongoing operations via a Regulation A Offering and through the exercise of Warrant Agreements, which permits the Warrant Holder to convert their respective warrants into common stock shares at the applicable exercise price. The Warrant Holders hold in the aggregate 954,444,445 Common Stock Shares from the exercise of their Warrants.
Market.live taking the next 3 days off. Can't even be bothered to stream a "replay."
Even VERB is asking..."What's the use?"
>> George Santos has found the missing sub.
Meatball parmigiana?
To drum up business. Market is running a promotion that each week sends a $250 gift card to a lucky winner.
Pro-forma income statement shows that total Market revenue for the first quarter was $ 2000.
12 weeks of gift cards is going to cost the company $ 3000.
This is not a sustainable business model.
Executive Payroll is due on June 30. Gotta sell shares to make sure the checks don't bounce.
"It's all Jay Powell's fault!"
-Rory C
They sold the revenue generating part of the business for LESS than the goodwill on the balance sheet that was already impaired by $14 million.
Zero revenue and yet Rory always starts his elevator pitch by naming stores like Target, Best Buy, the Container Store and Athleta that are all selling through Market.
I guess that's a lie. Throw that whopper on the pile.
It doesn't make sense that people would come to Market when a customer can go direct to the seller's site and get benefits like loyalty points, free shipping and such. And if there is ever the need to return something I would much rather deal with Target directly than have to arrange for a return through Market.
Rory just digging in deeper with shareholders paying the bill.
I'm waiting for the announcement about the closing of the Newport Beach office. The monthly rent is $ 35K and runs through mid 2027. The sublease market is probably crap so expect something interesting to happen there.
I called dibs on the pillows years ago.
True. And the smaller the company the fewer financial controls exist to ensure that revenue and expenses are being recognized properly. A very small business can easily record and time transactions in ways that would allow it to be "cash flow positive" during one period and be cash flow negative the next.
The due diligence phase for the acquisition could reveal some interesting things.
It will be a repeat of SC only on a smaller scale
That makes a lot of sense. VERB is essentially acting as a commissioned sales agent and, as such, only their commission amount gets counted as revenue.
You have a retail store, say Macy's. They count every dollar that comes in as revenue and they subtract the COGS to come up with gross profit.
You have an on-line selling platform, like Market, and it's fair to calculate their revenue as the commissions earned by selling goods.
Is the GAAP revenue rule dependent on whether the entity actually owns the goods that are for sale?
If the "Target" company has less than $2 million in revenue, their head count must be pretty small if the staff is based in the U.S. Wouldn't surprise me if most of their people are in Asia to keep expenses low. I'd love to see Rory try to manage employees who work in a time zone that is 12 hours different than California.
To anyone that was paying attention, the $2k in quarerly revenue for Market is no surprise.
I would regularly check in on Market.live streams. Early on you could see how many people were watching the stream. It was rarely above 20 and that likely included some VERB people who were keeping an eye on things. Now the number of streamers is almost always hidden because the count is embarrassingly low.
And, with only a few exceptions, the items for sale are trash (as are some of the presenters themselves).
As for the acquisition, indeed Rory will remake that platform with his own vision of what "out to be" which is to say that he take existing value and destroy it. Anyone working at the "Target" company who has any sense will look at RC's track record and will be sending out resumes pronto.
Speaking of University Professors, did you read about the Penn State Chemistry Professional and his beloved collie?
Prepare to wretch as you Google: Themis Matsoukas
Heavens, the next thing we find out is that TFG's gold plated toilets are just regular toilets with a coat of Rustoleum.
Remember when Eddie would talk about his team of programmers who were busy coding up the greatest money transfer app ever to exist? They were "this close" to releasing it in the various app stores.
The RS and the AS raise gives management the ability to dilute current shareholders down to the point where current holders own less than 1% of the company.
That's a lot to unpack (pun intended). Flying in the front of the plane on a long haul flight certainly has plenty of comforts (seats, legroom, meals, beverages, attention from the crew) but could Ivana also have meant that not having money means being subjected to the unwashed hot polloi? <shudder>
Ivanka said that once when she was a teenager, her mother made her fly coach to Europe, just so she'd understand why it was important to have money.
And why shouldn't he double down? For all 77 years of his miserable life he has cheated (on wives, business partners, vendors, the taxman as a few examples), he has stolen and he has flouted the law. Other than paying some fines here and there he hasn't faced any real consequences.
Until now. Maybe.
TFG has no friends. He has people surrounding him with whom he has transactional relationships.
Sadly, the same is probably the case with Melania and his children.
My money is on TFG trying to hire Joe Pesci. I mean, it worked in the movies!