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Well, the usual VERB 3 day weekend is upon us. Nothing scheduled until next Monday when there is...checks notes...ONE livestream on the schedule. Then on Tuesday, there is..checks notes...ONE livestream on the schedule. The big day is Wednesday when there are TWO livestreams, then one on Thursday.
A total of FIVE livestreams for all of next week. VERB stockholders getting their money's worth out of Rory and the team.
Can't wait to see the first quarter numbers.
I stopped watching the video you linked when Rory talked about the exciting upcoming VerbLit.
He was very excited about it, of course.
I'm watching Rory and the hyena. These videos are all scripted, of course, but Rory tells Jason how glad he is that Jason asked about the TikTok integration. The entire video is as phony as those planks in Rory's yapping maw.
And, while I agree with Rory's statement that visibility of shoppable video may be helpful to grow the space, he seems oblivious to the trail of companies that were the trailblazers in certain technologies but were subsequently left in the dust because new entrants did it better.
Unless VERB has patents that will prevent TikTok, Facebook and other platforms from creating their own livestream shopping platforms those companies are going to create something better and VERB (and hopefully Rory) will end up in the dustbin along with other colossal corporate failures.
That "exciting" announcement video was nearly 2 years old.
Verb's 2023 revenue: $ 63,000.
Oh, that laughing hyena. I didn't know he was Canadian.
Rory has historically surrounded himself with sycophants. That includes the BOD that recently gave RC a new 4 year contract.
Frankly, I don't understand why there is any continuing discussion about BIOAQ.
If people want to have a circlejerk about good things coming in 2032, well good for them. It's not as though they can dump their baggage onto anyone else at this point.
Then by all means load the boat, Surf.
Load the boat.
😃
The silent part is that the cash to pay Rory's $1 million and year and the other expenses came by selling shares that diluted ownership of the long suffering shareholders of VERB.
Good news indeed!
I don't remember the Canadian guy. He was some sort of podcaster?
Well, sure that are diluting. The Aspen ski season has ended and golf season has just begun. Mark and his cronies need to pay greens fees and rounds of drinks. Selling shares to pay the salaries to pay the fees.
Ahh...it was RORY who overrode the auditor's statement.
From the K:
As of March 28, 2024, the Company had cash of approximately $14,200 and approximately $1,200 of outstanding notes payable principal balance and accrued interest with minimum monthly payments of $120 beginning in April 2024 related to the Note which has a maturity date of April 11, 2025. As a result of the aforementioned equity financing that occurred subsequent to December 31, 2023, management has alleviated substantial doubt about the Company’s ability to continue as a going concern.
So the auditors continue to express a concern about the company's continued existence and Rory unilaterally decides that the share issuance has provided the company with enough of a cash cushion to survive for at least 14 months.
How very RORY of him to mislead.
Why would any outlet have him on? He certainly can't talk about his successful business career because he's been outed as a colossal failure. Over $170 million spent and he's left with a business that generated less than $ 100k in revenue and a $ 22 million dollar loss last year.
Maybe Rory's fellow narcissist David Meltzer will have him on his podcast out of sympathy.
Your statement is certainly true regarding 90+% of companies on the OTC.
In the case of VERB it's certainly true that Rory's main objecting is keeping his $1 million annual compensation package but he also has a HUGE ego, in case you haven't noticed. He loves to consider himself among the elite of tech entrepreneurs and will be interviewed by any podcaster or YouTube video huckster who will have him on.
Gotta show off those expensive planks in his mouth.
Per the PCAOB, a caution about the company's ability to continue as a "going concern" is somewhat subjective:
https://pcaobus.org/oversight/standards/auditing-standards/details/AS2415
The auditor is supposed to evaluate whether the company can continue for "a reasonable amount of time." Surely this was a topic of discussion between Rory and the auditors and Rory's statement that the company has enough cash on hand to keep the company afloat for at least 14 months must have caused the auditor to consider 14 months to be a "reasonable period of time."
If the company isn't producing positive cash flow or if the company finds itself unable to raise capital then you can be sure the next Q or K will have the going concern caution reappear.
As long as Rory's $1 million paychecks continue he doesn't care much.
Did you see Rory's crowing announcements about the 10-K not having a "going concern" warning?
Despite all of the pie in the sky statements from Rory about the TikTok, Facebook and other integrations he's still not providing any guidance about revenues or the prospect for positive cash flow (or even reduction of the cash burn).
This is the same routine we heard when Rory was touting the CRM solution integrations with Microsoft, Marketo, SalesForce, etc. They all amounted to a whole lot of nothing.
And Rory gives himself another 4 year contract.
SMH.
Some highlights of the 10K.
TOTAL REVENUE for calendar year 2023: $ 63 thousand
LOSS for the calendar year: $ 22 million
Rory's compensation for the calendar year: just shy of $ 1 million
Accumulated shareholder deficit as of FYE 2023: $ 175 million.
Here's the kicker in the subsequent events section:
Subsequent to December 31, 2023, the Company extended Mr. Cutaia’s employment agreement for 4 years.
Rory should have been tossed out on his ass years ago. Instead the company gives him a new 4 year contract.
The article I read said that MyPillow had not been actively using the warehouse for some time (because of the downturn in their business due to...well, you know). Lindell was looking to sublease the warehouse to a 3rd party but that deal fell through. Without the prospect of being paid, the landlord proceeded with the eviction.
All good ones, surf. But to me, Mark's constant bloviating and predictions of huge revenues just around the corner fall into a different category from his PRs that name specific customers and "partners."
The latter are easily checked and found to be either misleading or downright lies. The customers that have 1 or 2 employees or the business partners that don't have functioning web sites or who photoshop their company names onto gleaming office towers when, in reality, they work from their mom's basement.
Going down memory lane of Mark Kay's lies, let's recall his September 2023 PR that announced Zerify's partnership with Aligned Risk Analytics.
Headline: Aligned Risk Analytics Bundles Zerify Meet into New Cyber Offer for Financial and Legal Industries Throughout Central, South America & Mexico
Link to the PR: https://finance.yahoo.com/news/aligned-risk-analytics-bundles-zerify-115700180.html
Some of us commented at the time how strange it was that this up and coming powerhouse in the financial and legal industries that just partnered with Zerify had no web site. Six month later and they still don't have a functioning web site. Check it out: www.alignedrisk.net
Mark really knows how to pick 'em. Losers one and all.
Signs. LOL.
At my gym there is a sign at the entrance to the locker room saying "No cameras/photographic devices allowed." That rule is routinely violated as dudes (usually teenagers) take shirtless selfies.
Some months back I walked out of the shower and some dude was Facetiming in the locker room. I told the jerk to shut the camera off and we got into a BIG shouting match. He didn't want to turn the camera off. After a bunch of members started yelling at him he complied. If I had called the police he probably could have been arrested.
As I was leaving the gym I voiced my concern at the front desk. The dude working there asked me to describe the violator. He found the dude and spoke to him about not using a camera in the locker room, but the employee told me "Well, I'm not his parent so I really can't tell him what to do." Meanwhile, a female employee at the desk told me that in the women's locker room there are people using Facetime and recording themselves quite often.
The people who read the signs are rare. The people who heed them are rarer. Often because there is no one to enforce the rules. And I would never expect a $15 per hour cashier to say anything. They just want to finish their shift and go home.
Mark is very busy tallying up the money from the ZERO deals that are actually bringing in revenue. He can't be expected to abide by SEC rules.
Forgive me in this video has been posted already:
Working A Shift At An Iconic Philly Cheesesteak Restaurant | Bon Appétit
And let's not forget that he was originally out on bond before his trial. That is until he got caught violating the rules of his release. He contacted at least one witness against him and tried to intimidate his/her against saying bad things at the trial.
That landed him in Riker's until the trial.
Poor baby.
SBF's parents seem a bit off kilter, no?
Do you run into people having speakerphone conversations while shopping in the supermarket?
I saw that last week. A woman was standing in the freezer section amidst probably hundreds of different ice cream choices and she was having a heated debate (for all to hear) with a significant other? about what brand/flavor she should buy. I told her I would select something that both of them would enjoy.
She was not amused.
I know better. As someone who is on Reddit fairly regularly a common question asked in the "Askreddit" area is...people who work in hotels and motels, what are some of the dirty little secrets that guests might find problematic. Lots of replies are about bedbugs, sex toys left behind by guests and dead bodies found in bed when guests fail to check out...so to speak.
You just reminded me of a chain (all corporate owned) gym that I belonged to. When it first opened the place was in great shape (all new equipment) and they had two full time employees (one male, one female) responsible for cleaning the gym areas and the locker rooms.
Over time the place took a huge downturn. Equipment would break and, even it was repaired after several weeks, the same equipment would break again quickly. Paint would be chipping off the walls, carpets were stained and then the A/C failed and didn't get fixed for days. Then they got rid of the full time cleaners and made them part time. Then they got rid of the cleaners all together and told the personal trainers that they had to clean the gym, the showers and the toilets.
That worked out as you might expect. The place became a pigsty.
During COVID the chain declared bankruptcy. The landlord of the location where I (formerly) belonged evicted them.
They are still around as a privately held company, with a much smaller number of gyms.
My point being that McDonalds holds their franchisees to a high standard of cleanliness and presumably that back that up with unannounced inspections.
BK, LJS and others give much more leeway to their franchisees with cleanliness and product quality being all over the map as a result.
I learned recently that most of the big hotel chains (Hilton, Marriot, etc.) are now in the same boat and now the quality if you stay at a "branded" property isn't guaranteed. And the franchisors largely absolve themselves of any responsibility, even though it can tarnish the brand.
Typical private equity behavior.
If you are every so inclined, head over to https://www.reddit.com/r/KitchenConfidential/
Once in a while a back-of-the-house restaurant worker will post photos of their commercial kitchen. Some are gleaming and spotless while others are downright disgusting.
From what I've heard, in the fast food world, McDonalds has the cleanest kitchens by far with places like Burger King being hit or miss (largely dependent on the franchisee) and Long John Silver's (wherever they may still exist) being uniformly the dirtiest across the entire chain.
Scam or just piling one Rory failure on top of another. I'd say that Market.live is on its last legs. Nothing happening there. All that money spent to develop the site was yet another waste of shareholder money.
But Rory never looks in the rearview mirror. It's full steam ahead to being a "partner" to TikTok and Facebook.
What Rory fails to consider is that if on-line shopping turns out to be a money maker, TikTok and Facebook will use their resources to develop a shopping platform that will make Market looks like a sidewalk lemonade stand.
They will crush Rory like the cockroach that he is. Then again, cockroaches as a species never seem to die.
Did you happen to see earlier this week on StockTwits where someone posted a phony VERB press release indicating that Meta (aka Facebook) was buying Verb?
Egg salad sandwich? A crumby decision for sure.
If only John Eastman wasn't disbarred yesterday (ETTD) he could have represented the cheesesteak before the Supremes.
March 28 - One livestream with Frankie Avalon trying to hawk his magic potions. There are no additional appearances from Frankie scheduled through May 8 so it's likely we won't ever see him return to the platform.
Followed by another 3 day weekend. No livestreams until...
April 1 - One livestream
April 2 - One livestream
April 3 - Two livestreams
Nothing next Thursday, Friday, Saturday or the following Sunday.
April 7 - 1 livestream
April 8 - 1 livestream
April 9 - Nothing
April 10 - 2 Livestreams
The savior of the company (per Rory) was going to be Market.live. Remember when Rory said that
a) Sellers would shut down their own web sites and use Market.live as their only web presence? Yeah. That never happened.
b) Rory said that Market.live would handle drop shipping for its sellers? Yeah. That never happened.
There should be no doubt that Market.live is the latest Rory failure. So now the pivot is to TikTok and other social media platforms.
TikTok is already setting up its own studio so that influencers can do their livestreams. TikTok will CRUSH Verb.
Rory needs to pack it in and stop spending investor money on nonsense..
I think a good deal of the buying is by those who already own shares "averaging down." They are hoping that if they bring their average cost down enough then even a move to $1 will make them...only down 95% vs 99%?
There was a long time poster her, susa, who averaged down until all of her retirement money was gone. She claimed to have been a stock broker in her early days which made her move all that more confounding.
Susa just disappeared. Maybe someone took control of her finances.
@poster44ny is a Rory troll account at this point. He should add a /s to each of his posts.
I am enjoying the discussion on the other VERB board. One post in particular whose username includes nFUSZ so you know how painful this has been for him/her linked to a January article about TikTok building a studio in Los Angeles for influencers to do livestream sales.
If it wasn't on FOX, NewsMax or any of the other winger outlets, the MAGAts know nothing about it.