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https://www.forbes.com/sites/tylerroush/2023/03/11/these-companies-roku-lendingclub-roblox-and-more-held-major-funds-in-silicon-valley-bank-when-it-crashed/?sh=38429c673d6e
A snippet:
Roku held an estimated $487 million at SVB, representing approximately 26% of the company’s cash and cash equivalents as of Friday, according to a securities filing, wth its remaining $1.4 billion in cash is distributed across other financial institutions, the company noted.
Crypto firm Circle revealed in a tweet late Friday it held $3.3 billion with the bank, adding the remainder of its $40 billion in cash was held elsewhere.
I was answering a question about Kay being sued. Nothing more.
But it is important that a potential future sucker see lawsuits such as the one filed against Kay and his coconspirators. Perhaps they will think twice before dumping their heard earned money straight into Mark's pocket.
I have Happy Belly (an Amazon house brand) cayenne pepper on Subscribe and Save. I was supposed to get a bottle this week but they sent me an email saying that that delivery will be delayed.
If I run out of cayenne I'm not sure what will become of me.
Have you ever tried this: https://www.tonychachere.com/product/original-creole-seasoning/
I bought a container at ShopRite (very reasonable price) and I like it, but every time I shake some onto food during prep I sneeze. Every time. I don't see it in the air but clearly it's there.
The sad reality is that Rory couldn't give a sh*t about anyone who owns shares now. He has a constant need to issue new shares so he can keep the lights in the (empty) office on and to keep the money flowing into his own pocket.
Not only will the RS likely mean that you will lose even more money, but by doubling the AS Rory will dilute the snot out of you.
Has anyone sued him yet?
From Friedrich Nietzsche.
I'm not upset that you lied to me, I'm upset that from now on I can't believe you.
Agree, but just wanted to let everyone realize that seeing any number of people watching a live stream doesn't mean that a dime comes into VERB's coffers. A significant (if not most or all) of the viewers are insiders or other interested parties. They aren't shoppers.
My guess is that on streams from last evening that not a dollar came into the VERB pot.
You’re really making my point. It is not really all that hard to see Market is not generating much revenue.
Papa Bear, who says that big contracts are being signed and huge revenues will come pouring in any day now, you just wait and see!
Once Upon a Time there were 3 bears..
I don't know that you can, really. The viewer counts (which are sporadically displayed, BTW. Most times the number does not appear at all) almost certainly include VERB employees who are monitoring the stream, friends of the presenters, shareholders looking to "support their investment" and other looky-loos. The number of people watching who have a genuine interest in the products being pitched can be counted on the fingers of one hand. And the number of people actually making a purchase is probably close to zero.
The mystery is why presenters would continue to waste their time on the platform. They would make more money doing just about anything else. As crazy as she was, the lady who made the garish costume jewelry was a regular streamer in the early days of Market, but even she came to her senses, it seems, because she's gone. Look at the line-up for the remainder of March and you won't see more than one or two of the people who did streams in January.
The costs for Market assuredly well exceed any revenue that comes in.
Another Rory invention that burns cash. Throw is on the pile with all the others.
Literally this is a stock that shareholders can easily extrapolate likely revenue based on what they can observe with livestreams.
Internet and phone mysteriously cutting out. Seeing broadcasts that no one else sees.
I think you are being targeted, Janice. The question is...why you???
Do you still have both of your kidneys?
By any chance did you check the sky for a Chinese balloon?
BTW, isn't it strange how balloons were rampant during a 1 or 2 week period and now you never hear about them once again?
I would venture to guess that the majority of scammy boardwalk "games" are family affairs. Members of the public are viewed as "marks" to be tapped drive.
The almighty dollar often trumps morality (pun intended!)
I spend a bit of time in police stations (hey, it's my job) and frequently see FOX News on break-room TVs. I've never have seen MSNBC.
Any suggestion to cut back on any "executive compensation" would be laughed at by Mark and his gang of thieves.
The only reason the company exists is to pay those salaries.
I did some looking around this morning at the major players in the space: Zoom, Microsoft Teams, Google Meet.
All have the ability to require MFA for meeting organizers, but I don't see where any offer the ability to require MFA for meeting participants.
That said, all of those other players offer the ability to have participants require sit in a "waiting room" until the organizer allows them to enter. In addition, for any meeting of significant size, all participants other than the organizer have their cameras blocked and their microphones muted.
Per the article on CNN: https://www.cnn.com/2023/03/02/business/zoom-bomb-christopher-waller-federal-reserve/index.html the organizer of the Fed meeting failed to following these very basic steps.
There is always a delicate balance between security and usability. In Mark Kay's world, every participant in a remote meeting would require MFA. I've worked with enough non-tech savvy people to know that getting people to join a remote meeting can be challenging enough. Adding MFA to the mix will mean that several people won't figure out how to join.
Is it possible that Zerify Meet will find a niche where MFA for every meeting participant is justified? Maybe. But the revenues of that niche are unlikely to cover the salaries of the bloated management team.
At this point, why would Rory give 2 sh*ts about the shareholders who dumped more than $100 million into Verb?
Their money is gone. Spent on acquisitions that Rory had to reformulate to meet his vision, spent on software development that has resulted in meager revenue, spent on an extravagant office that is probably 3/4 empty, spent on travel around the world in order to drum up new business, spent on Market which probably cost millions to develop and has likely brought in net revenue in the 5 figures.
Shareholder money spent. Gone. Poof.
Are wiped out shareholders going to angry at him after the R/S? Not any more angry than they are already.
Assuming that Rory sticks around, job 1 is to figure out how he can convince new suckers to buy into his fever dream by purchasing shares. He'll put on a big smile, he will take off his glasses in that professorial way that he thinks looks impressive and he will do his best to sweet talk prospects into buying.
Have you ever seen the video that outlines the Canadian Government's experiments with spiders and various drugs? It's worth a watch:
When I was in school they called them "lecturers."
I took two semesters of Business Law from a practicing attorney. He covered the curriculum but he spent a lot of time talking about cases that he had worked on during his career.
To me, that knowledge was a lot more valuable than what was in the books.
Love to see them fight each other. TFG has pretty much said that he has enough dirt on DeSantis to take him down.
Do it, Donny. Let's see what you got!
Today the NY Times ran a story about an analysis of conservative news outlets' coverage of the Dominion lawsuit revelation about how FOX commentators and Rupert himself were saying one thing amongst themselves and saying something completely different when on-air.
Would you be surprised to learn that there was zero mention of the revelations on a FOX outlet, OAN and a slew of "news" web sites?
I gifted the article for anyone who would like to read it:
https://www.nytimes.com/2023/03/03/business/media/fox-dominion-conservative-media.html?unlocked_article_code=XT7mmYUTtDKZPhfWjObfk8OC2MjsDhctHt5zXkQNE0a9hF-kTbDHGfdGD4eYmFa4EhmK-nRtMKSY-8kB-3AAvTAP-qyeHgSA8VyJduTwwNirNxHQx8T3R-pgrIzgGemy9NjCUD6I_bL3dQMKlRsv1xmjHeZppHAfqebs4JzajMGKvf3R_NCWwSu9e7BMCmUkvNcMu7mQ3mzRiDRV9yR8BHCJzEznbE-6m7Cmt2cuJkJdtCj56tSnGGQhTTL3OzKSo8h_auWaef9XaZa_luhBjyqjAWirh0y0jrNZBke0M3x-p2Iedr6LWCdXpoFVxT86ZdBUu4DFpb1efZAI48u_nbb85n-hcLUqT7Q6mDAvxwKO&smid=url-share
Not only are expenses out of control, but revenue has been RETRACTING.
Quarter ended 09/30/22 (most recent report): $2.187 million
Quarter ended 06/30/22: $2.399 million
Quarter ended 03/31/22: $2.691 million
Quarter ended 09/30/21: $ 2.900 million
I went as far back as June 20, 2019 and could not find a quarter that had revenues lower than the most recent quarter.
For the quarter ended 06/30/2019, revenues were 3.733 million.
That's a 40% DECREASE in revenue over a 2+ year period. Reported loss that quarter was $2.34 million vs a loss of $8.03 million for the most recent quarter.
Rory's appearances on Apple TV are not going to fix this.
>> Rent is $30k/mo.
Thanks. So that's $ 1,000 per day vs. my estimate of $ 60 of revenue brought in from the Thursday evening Market stream.
Now add in the daily cost of salaries and even what Verb pays for the hosting service and I'd say that so far Market is not going to be the savior of the company.
PIVOT, Rory. PIVOT!
I had the sound off, so I'm not sure exactly what was going on.
He did seem to be mixing cocktails and I noticed at the bottom of the screen that there were two mixing "kits" available for purchase. Each was $ 60, IIRC. Generously considering that 20% of the viewers purchased a kit that would mean 4...let's say...5 purchases at $ 60 = $ 300. Verb gets maybe 20% of that, so $ 60 of revenue. For the day.
Somehow the number $ 12,000 sticks in my head as the monthly rent for the Newport Beach office. That's $ 400 a day. Hmmm.
Is he selling something or teaching how to be a bar tender?
We should all take a moment to paws?
Chill, Man... it was a Dog joke
Scary stuff being demonstrated here:
I don't wanna be known as the tiktok filter guy, but ICYMI after attacking GenX w teenage filter, tiktok just dropped a new filter to take out Millennials & GenZ. "Beauty filters" are not new, but the precision on this is beyond uncanny. This is psychological warfare & pure evil. pic.twitter.com/2G2FeMfrTC
— memo akten (@memotv) February 26, 2023
And VERB sits with $ 19.7 million of Goodwill on the balance sheet out of total assets of $ 34.7 million.
Edited to add: and an accumulated deficit of $ 137.4 million.
Those of us who feel that Zerify has become (or maybe always was) a mere way for Kay and his cohorts to put shareholders' money into their own pockets will continue to express such opinions and, when warranted, provide evidence of the same.
You, of course, are free to post any positive opinions (or facts) about the company, the management or the stock. We can all use a laugh now and then, after all.
I can't really put my finger on why Bob won. Some people say he ran a strong digital campaign.
Bob Heavyhanded.
The money raised from existing shareholders was spent long ago. Their significance to Rory has passed.
People who pour new money into VERB is his focus so he can keep the plates spinning and putting money into his pocket.
Given the history of companies like Microsoft, Facebook, Google, Amazon buying up companies that had a great idea and well accepted products, selling VERB to a technology mega corp wouldn't necessarily be a bad thing. If you've never seen the founder of RING do his pitch on Shark Tank, give that a look.
But that same road is littered with the carcasses of companies that spend many millions of VC and other equity holders $ only to produce things that are poorly conceived, have underwhelming technology and have no customer acceptance.
Verb falls into that second category.
The only component that seems to be generating revenue is the software formerly owned by Sound Concepts - which produces products focused on the multi-level-marketing space (aka pyramid schemes). Even that sector has seen a pull back in revenues.
Rory knows all of this, but he still seems convinced that his brilliance will turn things around. Thus, the constant pivot from one product to another. Fortunately for him, his generous compensation continues whether the company is successful or not.
If the big buyout never happens, well, I don't think you will have to worry about RC. He's done pretty well for himself pulling down a nice salary and benefits all while he pisses away people's money.
his intention was to create a company with the specific purpose being, to sell it,
I don't know which one is Barry and which one is Jason, but last week I watched about 90 seconds of whatever the F they were doing on the stream. The little guy is totally obnoxious. Even tall dude looked like he wanted to be out of the room.
Adding: In the 1970s/80s TV show days, if a new baby or a puppy was brought into the mix that was usually a sign that the franchise was circling the drain. Anyone remember Cousin Oliver?
Who could pass this up?
I will leave this here for you to review. Data is from 2021.
Source: https://simplywall.st/stocks/us/software/otc-zrfy/zerify/management
We can agree to disagree on that point.
The fact remains that the company is not making any meaningful sales of Zerify Meet. Mark always dangles the carrot of "big contracts on the horizon." He has done this for 20 years. It. Has. Never. Happened. Once.
The company will continue to generate perhaps $100k of revenue each year and pay its top executives 10 times that amount. And another RS that will wipe out current shareholders is coming down the pike.
Of that you can be certain.
Dollars to donuts that the 3 licenses that Kay is crowing about are already included in the projected $ 100k of revenue for calendar year 2022.
And not to be an ageist (I'm not youngster myself) but John Wachter is nearly 70 years old. Since he's been an attorney for 40 years, Richard Bruce Paschal has to be at least in his mid 60s. The Visionary educator who doesn't give his last name is a wildcard but I'd venture to guess he is 60 or older.
Zerify Meet seems to appear to the (near) geriatric set. That is not the bulk of corporate computer users and certainly not the demographic that is going to help Zerify generate enough revenue to even meet payroll.
Kay is a clown.
I'm betting that Hanlon's razor applies:
Hanlon's razor is an adage or rule of thumb that states, "Never attribute to malice that which is adequately explained by stupidity.
However, I don't think that Rory is necessarily stupid, he's just not nearly as smart as he thinks he is. See the definition of hubris.
The question to ask -
does the CEO really care or was this the original plan from the start?
>> Let’s see who turns the light out.
My vote is for Bette Midler to have that honor. There is precedent: