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Agreed. And if price had run today to even .0045, people would have been artificially satisfied. They need to feel some heat and hear from some angry investors.
More FUD or more truth?
That’s where you struggle. I’ve said for days we would see new 52 week low going into CC.
Is it FUD? Or is it reality?
Maybe. Or maybe they are in default on both companies and used the same lenders.
I don’t follow xdsl closely, but it seems likely that they use the same shitty toxic lenders for both companies and sadly, they have the same shitty management for both companies. Tardy filings leads to default leads to dilution. Simple as that.
A lot can be read into that one paragraph.
1. Prospective customers of PPE. At one point they touted US Govt contracts. Their inability to get those samples in a timely fashion proved costly. I would assume they lost all potential customers and are starting over in terms of sales. They did discuss “new sales strategies” later in that PR
2. The BLF portion of this tells me that the distribution is back to just a regional situation for now. That’s not all bad. For a small company, regional focus might be the easier path to growth. There is no mention of TJX in this PR. That’s of concern. But I’m sure those questions will be asked today. The answers need to be honest. If that contract is history, just say so and let’s all move on. Enough of stringing people along like they did with Nutribrands.
This is what Anshu needs to deal with. The anger and emotions will be raw when we roll into the CC at 52 week lows.
While we knew the compensation package was coming, it couldn’t have come at a worse time. And he will have to answer to that. Probably more than once.
There are things he could have done to mitigate or delay that. And he made the choice not to.
Each time we have seen CFGN for any extended period, it was followed by a Form 4 from Andrew Garnock. So that’s something to keep an eye on for a few days.
As predicted, new 52 week low in place heading into the CC. I don’t think this is a bad thing. This makes the Q and A session more realistic for Anshu to feel some heat from his shareholders. If price inflated artificially today, I think the message would be missed.
Is that 20,000,000 at .0037? Holy crap! Maybe my eyes are tricking me.
OTCX and CFGN working hard to push this to new 52 week lows. We kinda blew our chance to run while they went to the sidelines for the last couple weeks. But for whatever reason, they are back in the game today.
If they do push us down to 0035 levels today and Anshu drops a bomb this afternoon or tomorrow... the volume from these levels will be 100 million plus.
Nice find.
Hallelujah!
Now let’s see if TJ Maxx will take the shipments of candy. I expect an update today but I was disappointed they didn’t even mention their only national account in the PR. That tells me it’s still on hold. Maybe the baseball news will change their stance on sticking the candy in at least a few regions.
I expect to test the 52 week low again early in the day. Then maybe there is some buying as day goes on in hopes that Anshu has some type of positive news for us during the CC.
Gonna be an interesting day. Still not counting out a PR before the CC but it seems unlikely.
Let’s be honest... next Q will look amazing how?
GCC revs might increase from Q2. I will give you that.
We know that $820k from Vivamil Cares slid to Q3.
And we can expect slightly higher BLF revs as I’m guessing the Big 5 orders and some more online sales will contribute there. But I can’t see more than $50k from BLF for Q3.
But “Amazing”?? I guess we need a definition.
I’d say we get back to $6 million in GCC revs and then maybe $1 mill total between BLF and Vivamil Cares.
So $7 million in total revs? That’s good. But not Amazing.
Anything over $10 million I would tip my cap and say... that’s “amazing”.
It’s sad to think about, but it might be the only way they can get out of this mess.
And sadly, we now know that Anshu is not opposed to “ripping the bandaid off” to get through something.
So don’t be shocked if that happens. I would be pissed at these levels. Cause from here, an RS would have zero to do with an uplist.
The thing to be cautious of is the management shares. If you see them getting Billions of shares, it’s protection for them on the backside of the RS.
That’s how it went down with Anshu and his team at mPhase (XDSL).
Mark gave me specifics on those transactions and I want to believe him. But the timing was awfully convenient for management.
Walmart.com is not selling much candy at all. I can assure you. There was $24k in candy sales for Q2 and I guarantee most of that was bought by shareholders on the BLF website.
Once they get some brand name recognition with their retail placements, maybe the Walmart.com business will pick up. But I don’t ever expect that to be a key driver of revs. This needs to be sold in major stores and stadiums. Until that can happen, it’s a small regional candy at best.
Should see a close in the high 003’s today. Likely to drift a little tomorrow and possibly be at 52 week lows going into the earnings call
That should set the tone real well for Anshu should he not have a PR leading up to the call.
Thanks for that info. It says in the 10Q we paid $357,000 last quarter for the license. And we paid that same amount in Q1. Did you see that and did I interpret it correctly?
Totally agree. That was a big loss.
We also deserve clarity on the costs associated with the MLB license and how we expect to ever make that profitable.
That cost us $5 million plus for 32 months. To date, we have less than $80k in BLF revs. I guarantee they spent more than that on travel and arrangements to go to the trade shows last year.
The costs associated with that license might be appropriate for M&M’s... but not a new candy brand with zero sales force and zero established distribution.
If M&M’s wanted to slap MLB logos on their already popular candy to boost sales, that might work for them. It’s already on shelves in every store nationwide.
But for BLF, it’s just not a responsible deal. I don’t see any way to make that profitable under the best circumstances. Let alone during an MLB work stoppage.
The sales force needed to get product to shelves across the country just doesn’t exist. The same guys talking during the CC this week are the same ones trying to get sales contracts.
Tough gig. I’d love clarification on that license and whether Anshu sees it as a good investment. The thought of a similar deal with another league just doesn’t seem prudent at this time. They would need true national deals to ever make their money back on that license.
I’d love to see it. But I don’t see buyers having any reason to jump on this without a PR. Based on what we got yesterday, this should be trading between .0035 and .0039
That’s possible. And might explain why he gapped the filing and the CC for once. But until then, this settles back into the .003’s for the short term.
You could be right. The only negative that I saw was the GCC revs were lower than expected because the company led us to believe that those products and shipments were stable during the pandemic. That turned out to be incorrect to some degree.
Momma also said, keep it real.
That may not always come off as “nice”. But real = truth. Sometimes the truth hurts.
I think that’s gonna be tough without news. Today’s action will depend on short term perception of the PR.
I like the idea of a return to simplicity with this company. Stop the silly talk of government contracts and national expansion of products. Let’s just accept what we are and improve upon it.
That tone in the PR struck me as very positive. But some people in the OTC want the fake news approach. The Raw Dawg fake news nonsense.
I like the realistic approach. And this PR finally had just that.
Let’s see how she rolls from here
I know people are saying it was “baked in” but it just really seems hard to justify that level of compensation in these times. It lacks humility.
I can only hope there is a plan to pay off the debt somehow.
It’s ugly and there is no way around that fact.
Hopefully they have news on PPE contracts and additional store placements for the candy very very soon. Like today would be good.
I would like more info on the 12.5 million Class A shares that converted on May 28 though.
The dilution here is far more than just the notes.
It’s gonna be rough here for the next few days. It I really liked a few things from the PR yesterday.
Anshu seems committed to getting back to his bread and butter. Focusing on the GCC. That was my takeaway from his words. And it’s what I’ve been begging for.
Quit trying to be something you are not.
He was humble in admitting that the Verus Cares division was not going nearly to plan. Delays and sales issues mentioned. I appreciate the humility.
He also admitted that BLF was a struggle and discussed the uncertainty of sports playin a role in that. He said Big 5 had a reorder in for some regional stores and mentioned potential new contracts with other regional groceries. But I’m glad they dropped the silly rhetoric about National distribution. There was no mention of TJ Max and no silly coast to coast chatter.
He said that we are going to keep things simple for a little while. That’s a Great Idea!!
I’d still fire Cutchens though. Lol
It’s only weak because we were led to believe the GCC side of things would be largely unaffected. That wasn’t the case apparently.
And maybe we better just begin to appreciate 50% gainers. That’s still a huge number but it might not satisfy the OTC crowd.
We did go backwards significantly from Q1. Let’s hope things are improving as we speak and Q4 can begin to show the types of gains we were accustomed to.
I do believe that we need to ditch Verus Cares and BLF at some point. The revs from those are simply not even close to matching the costs. We are paying almost $1.5 million per year for the MLB license. We haven’t even clocked in $100k in total revs yet on BLF in over a year. It’s a huge waste and a losing effort.
Beautiful product. But the costs just are not worth that. And the notion that taking in another license from another league with a similar price tag is not wise.
Big League Foods- $24,000 in revs for the Q
Verus Cares- $0 in revs for the Q
MLB license alone costs $357,000 per quarter. And we spent $100,000 to purchase ZC Scam in the Philippines.
It’s laughable.
Here is why BLF is just not worth the gamble...
Again, we are paying $357,000 per quarter just for the MLB license.
We had $54K in revs all last year and now have $24K in revs so far this year from BLF. And that’s not profit... that’s revs. The cost to produce those gummy worms aren’t factored into that number.
So it’s a miserably failing enterprise. We would probably have to sell over $500,000 worth of gummies per Q just to break even. And that still might not be enough.
The costs associated with BLF and Vivamil Cares are not worth it. Very poor business decisions at this point.
I have been rock solid with predictions. And I think this is gonna sell off hard. That’s a massive loss for the Q. Anshu’s compensation numbers couldn’t have come at a worse time. You can say we knew it was coming. True... but we also were led to believe the GCC was rock solid moving forward.
The masks were delayed by at least 6 weeks so we know that Verus Cares revs will be low again for Q3.
So as an OTC investor (most of which are flippers not longs) we are looking at Q4 before this company could even possibly show solid triple digit growth again. And maybe we won’t ever see triple digit growth again. It can’t go on forever. 58% growth is huge. But we have been spoiled.
So you will likely see this falter back to the low .003’s for awhile.
And the MLB season looks like it’s a complete wash at this point. That will affect BLF greatly. Doesn’t mean it won’t go into more stores, but the stadium opportunities were huge.
It’s a big step back. And the share price reflects it.
This goes back to 52 week lows this week.
#fireChrisCutchens
#defundAnshu
#Wheeler2020
Q3 will be dog shit like this one. BLF revs might be up a little. But Verus Cares revs won’t exist. We are more than half way thru the Q3 now. So keep expectations in check. Maybe Q4. In the meantime, this goes backwards for awhile in my opinion. Anshu tried to get creative with masks to salvage what he knew would would be weak earnings for Q2. It didnt work out as planned. This is just gonna be a longer term hold than most thought if they ever want to see a penny again. But it’s not likely to happen for a long long while.
#fireChrisCutchens
#defundAnshu
Correct. And that would be different for once.
The chicken shit concept of putting out a filing 3 minutes before an earnings call is just that... chicken shit.
If they get it out today and announce the CC for another day later in the week, possibly it is for a couple reasons...
1. There is something very positive in it that they want you to see
2. It buys them a couple days to put out a monster PR on a deal that might be very close to done but needs another day or two to finalize.
If they could come through with a PR before the CC, it would drastically change the sentiment. If I was Anshu, I would want anything to deflect the conversation from the compensation and dilution debacles. Not to mention Garnock selling more shares in the last three weeks than iHub owners have combined.
Don’t shoot the messenger buddy.
If Anshu is Tardy on this Q, he too should be fired. Unacceptable. Period.
Make or break week for MLB season
https://www.espn.com/mlb/story/_/id/29343950/where-things-stand-mlb-players-consider-vote-2020-deal
Except my pot is full of truth. Her/him/she/shim’s kettle... not so much.
#fireChrisCutchens
#investigateAnshu
#Wheeler2020
Ain’t that a fact...
Very strange times in Verus land. Normally they would put out a PR or tweet letting us know the date of the CC, which in the past was within minutes of the release of the Q.
Seems there might be more time to digest the Q before the CC this go around. That’s assuming that the Q is released on time today.
I have typically found it chicken shit to put out the Q and then host the CC minutes later. Like they didn’t want tough questions about the financials to be asked or something.
But maybe they want us to see the Q for a day or two before this CC. Maybe it’s better than we expect? Who knows...
If they don’t get the Q out today, then it’s a whole different ball game. Then I would suspect there are issues. Either way...
#fireChrisCutchens