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.
Your number may not be too far off.
If there are currently 3 million outstanding shares and they sell 30% more shares that's 900,000 shares. If they sell at $2 per share (which is being very generous) that would raise $1.8 million.
Their cash burn was $25.6 million last year. If they burn cash at the same pace in 2023 that would require 14 raises of $1.8 million each...so more than one per month.
This company is doomed.
How do you think that convertible debt will result in any less dilution than a straight out capital raise? Anyone loaning money to VERB will require that the conversion price be at a significant discount to the market price at the time of conversion.
The funny thing about money lenders is that they want to be as sure as possible that they get paid back. That requires some sort of collateral or a pledge of revenue so that even if the company fails the lender is able to recoup some of what they lent out.
The company has already pledged a portion of future revenues to an existing lender.
What collateral does VERB have to offer?
The company is left with two choices:
1) Raise capital by issuing new shares, thus diluting existing holders.
2) Issue convertible debt, which allows the lender to convert the debt into shares. This also dilutes existing shareholders.
Perhaps a VC could step in to fund VERB. Of course they would want a big chunk of equity in return and they would likely want a significant presence on the BOD. First thing the VC would do is show Rory the door.
Whatever they do, you can be sure it won't be in the best interests of existing shareholders.
The bullshit that flows from this company is unreal. They tout record SaaS revenue (up 12% YoY) while not mentioning that "other digital revenue" and "non digital revenue" were both DOWN by more than 50% YoY and the LOSS from operations was up 15% YoY. And no mention of revenues from Market because....they are abysmal.
The O/S is under 4 million shares.
The A/S is 400 million shares.
Existing holders are going to get the snot diluted out of them.
Going to try posting Stella the leaf jumping dog again...
walking away with our money?
Have you looked at any of the Amazon credit cards? I have the Amazon Store card that gives me a 5% credit for any purchases made on Amazon. Some months I spend thousands on business purchases; last month my credit was more than $ 500.
I also have an American Express Blue Cash Preferred card. It pays back 6% back on supermarket purchases. There's a $95 annual fee but it more than pays for itself. AMEX also has a Blue Cash Everyday Card that has no annual fee. You get 3% back on groceries with that card.
From the mid 1970s on I coded on IBM systems that had 8 inch floppy drives. I still have a couple of boxes on the shelf just to look at from time to time. Until a few years ago I had a machine that would convert 8 inch floppies to those "new fangled 5 1/4 inch floppies." I had a small business converting discs from one size to the other.
The TRS80 Model 2 brings back memories as well. When I worked at my college newspaper, the business manager had set up a network of sorts using that system. Somehow he tied the TRS into the word processing system that reporters and editors used to write copy. And ultimately the text would print on a typesetting machine that produced strips of paper that became the newspaper. There was a rotation of us who stayed into the early morning hours to take those paper strips (stories as well as advertisements) and applied a coating of hot wax to the back. We then "pasted them up" onto boards that represented each page of the newspaper. When the paper was complete (around 1am) a courier would transport the boards to the plant that actually printed the newspaper. The papers would then get dropped off at various points around campus by 8am. It was amazing "technology" in its day.
As a kit I raked leaves and it sucked. Even with gloves I got blisters.
For your amusement, Stella the leaf pile loving pooch:
I had a an original model TRS80, with attached cassette tape recorder to save and load programs. No printer, though.
I think I owned some Tandy shares also. IIRC they provided some benefit to shareholders in the form of a coupon or something you could use in one of their stores. Does that sound familiar?
Found an article:
What are 'Shareholder Freebies' (which are also known as 'Corporate Freebies')? Those are the free things (or benefits) that you get by being a shareholder of a company, over and above any dividends or growth in stock price.
As an example, the local RadioShack Corp. (RSH) store has informed me that Radio Shack gives a 10% discount to shareholders of RadioShack, and that to prove ownership, I would just need to bring in a Radio Shack stock certificate or copy of a stock brokerage firm statement showing my shareholdings.
Was the manager concerned that you were committing credit card fraud?
When the RS employee would ask for my info I would just make up some random info. The employees certainly didn't care.
Come again soon, Mr. Dick Hertz!
And, if you joined the "battery club" you got one free battery each month!
One of the ongoing criticisms of RS was that even if you were purchasing a 50 cent battery you had to provide your name, address and phone number or else the cash register system wouldn't complete the transaction.
Perhaps your neighbor believes that cutting the tops off the grass blades will be less traumatic when they are sleeping?
So your husband's life could be in jeopardy if your neighbor gets a power washer of his own.
Seems like a fragile situation.
Did you see the guy who shot at a couple of people fishing?
https://www.reddit.com/r/PublicFreakout/comments/132at26/angry_man_shoots_at_fishermen/
Leaf blowers aren't useless. Every landscaper who uses them to, at the very least, blow leaves into piles so they can be picked up and composted. If they were to use a rake it would take forever and would be be insanely expensive.
And the leafblowers aren't all that annoying when they are clearing my property. When they are clearing my neighbors' property, man that is super annoying.
It's crazy, really.
As of 12/31/2022 there were approximately 117 million shares outstanding. After the 1:40 RS the O/S dropped to just under 3 million shares.
After the shareholder vote, the AS is 400 million. If the OS maxes out that means the existing shareholders will have less than 1% ownership in the company.
You could argue that the newly printed shares will go toward acquisitions. But Rory has a history of overpaying for acquisitions. In 2022 the company wrote down about $ 12 million of goodwill and intangible assets resulting from the Sound Concepts acquisition. And the revenue produced from SC has been growing at a very slow pace and, in some quarters, has actually retracted.
I don't see how the company survives. Maybe pieces will be sold off to pay some of the $36 million in debt that is on the balance sheet (a good chunk of which is owed to Rory).
The AS was raised (even after the RS) so they can print massive amounts of new stock. Existing longs will be diluted into oblivion.
And Rory will have money to squander!
Any real estate agent, insurance agent, coffee shop owner, etc. that joins is welcome to make a presentation to the group every so often. The reason people join is to gain exposure in the community.
Generally speaking, I don't think CoCs vet their members.
The ZRFY PR states that the company will be demonstrating the product(s) at a Meadowlands CoC meeting taking place on May 4. https://finance.yahoo.com/news/zerify-present-cyber-security-solutions-115800760.html
Funny thing, though. The CoC has two calendars on their web site.
1) Chamber events https://local.meadowlands.org/events/?oe=true
2) Community events https://local.meadowlands.org/events/?ce=true
Neither calendar shows an event on May 4.
Maybe it's a secret meeting!
But you must not overlook the vision of Rory. He sees things that others are incapable of seeing.
Just look at what he did with Sound Concepts.
Oh wait, bad example.
Ask Dennis questions about lower Manhattan, which he supposedly knows a lot about since he was a tour guide there until a few years ago.
The latest chatter on the other board is that the stock price continues to slide because VERB is on the verge of making a big acquisition.
The wonders of modern pharma never cease to amaze!
While truth is a valid defense, litigation is very expensive. I think it unlikely that ZRFY would actually go forward with a civil complaint against someone, but note that the attorney fees to further the action are paid for by company shareholders. The defendant, on the other hand, has to take money out of pocket to respond, no matter how flimsy the complaint may be.
Last I checked many homeowner's policies will cover defense of a libel complaint, but one would have to consult their policy to be sure and, of course, the defendant would still be out of pocket for their deductible.
The saving grace here is that Mark knows that any money spent on lawyers is less cash that is available to fund his paycheck, so a $200 email from a lawyer is probably the beginning and end of this.
Whenever Rory talks about Market.live (and as published in the 10-k) he makes a big deal about having "partners" such as Best Buy, Target, GAP, etc.
As you note, no one in their right mind is going to buy a product from Market when they can go directly to the major retailer's site and buy direct. Even if the price is the same on both sites, if customer service is needed or a return, would you rather deal with Best Buy or with Market?
Purchases on Market are almost exclusively being made by shareholders who believe they are supporting their investment by spending money on the platform. Who else even knows that Market exists?
The entire "we have hundreds of influencers signing up to do shows on Market" was typical Rory bullshit. He said they would start appearing in mid February. Well, it's now the end of April and perhaps there are half a dozen such influencers and the products they are touting are, with a few exceptions, magic potions and cheap Chinese clothing that you can buy at a deep discount store.
Rory has not broken out any revenue information about Market. There's a mighty good reason for that.
I read through some of the replies to the Tweet. There seems to be disagreement as to whether this was actually something TFG posted to Truth Social or if it was a parody.
The sad part is that most Americans would 100% believe that this is something that TFG would post.
Wait a minute now, are you trying to suggest that there aren't lots of people shopping for $ 1700 laptops on Market.live where the web site provides very little information about the specifications of the product and where you are asked to choose a color, gender and size?
https://www.market.live/portal/s/best-buy/pc/electronics/personal-computers/laptops-desktops/p/lenovo-yoga-9i-14-4k-oled-touch-2-in-1-laptop-with-pen-intel-evo-platform-core-i7-1260p-16gb-memory-1tb-ssd-storm-grey/
C'mon...I'm sure LOTS of people are buying that way /s
Mark Kay, King of the Reverse Split, says...
"Hold my beer..."
And...aite-novarica's listed address is a mail store.
Let's make America...GLAM again!
Okay, who did this??!! 🤣🤣
— Jon Cooper (@joncoopertweets) April 26, 2023
pic.twitter.com/JGMpeMtLZO
Yes, but sometimes you have to sort by newest to get a better picture of what is going on now vs. when a restaurant was in its prime (pun intended).
There are several places near me that were churning out good food with good service. Then, even prior to the pandemic, something happened (change of ownership, change of management) that caused some of them to take a noticeable downward turn. One or two bad experiences and I won't be back.
Fortunately, new places open up all the time, so the classics need to keep up their game or they will fall into irrelevance, which in the hospitality business, is a death knell.
I know the owner Desktop Services Group. He's a very nice guy. That's all I can say.
Even if McCarthy turned over the video on some sort of physical media, copies of digital evidence are so easy to make that getting the "original" media back is pointless.
It wouldn't surprise me if the video was originally turned over using some sort of cloud based service and access could be turned off at any time, but Tuck's people likely would have downloaded some or all of it.
The digital genie cannot be put back into the bottle.
Given that DPLS has a history of massive negative gross margin, a fat Federal contract would be the death knell of the company.
Overall, the most recent reviews on TripAdvisor are not very positive.
https://www.tripadvisor.com/Restaurant_Review-g155019-d701867-Reviews-Barberian_s_Steak_House-Toronto_Ontario.html
The company has been issuing stock to fund operations and with the recent RS and the increase in the AS you're going to see a lot more of that moving forward.
There are some notes payable, including amounts due to Rory, but those items are small compared to the company's accumulated deficit of $ 153 million.
Who do you suggest are the ones financing the company?
Possibly the ones who have been funding/financing the company?
Rory has put millions into his pocket in the interim.
He's fine with all of this.
Web sites like Godaddy, WIX and many others provide templates that allow a business to create a web site literally in minutes. Sections appear automatically and the site owner is supposed to either fill in content or remove the section.
The funniest ones have placeholder text such as:
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum
It was that way in the 1980s.
On average, each Ivy school has more than 35 varsity teams. All eight are in the top 20 for number of sports offered for both men and women among Division I schools. Unlike most Division I athletic conferences, the Ivy League prohibits the granting of athletic scholarships; all scholarships awarded are need-based (financial aid).[206]
Then again, there could be more than one "real" Patrick Orlando, no?
Relevant Seinfield: