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Great post, but as far as 7 million in the treasury; if that was based on 4 million more than expected in the offering, I corrected that misconception on my part after clarification from AGP. If there is 3 million in the treasury, that's not bad for relaunch.
Rory is very much loved at AGP, I was told by them. Their investors are happy with what they see in the future of their investment as well. Having a clickable link is nothing new, but if you do your DD you will see that the big money is in the integrations, with the large CRM providers, not in the one-offs, rolling out now in Q2. Already Stream is on-board. If you missed the significance of that, I'll spell it out: 1)This integration into Stream's APP is NEW VERSION software, not V2 and 2)This will mean real income. O.K. we won't know how much and when, but it shows VERB has left the starting line for the new launch. I agree it is extremely rare for a penny stock to fall so low and get another chance, and for that chance to be successful. I get that there is a lot of skepticism due to past claims made by Rory that did not get to where we hoped. I get that many of us have lost painful amounts of money. Unless something very unexpected happens, I am long and optimistic looking forward.
Glad this provides humor for you..the longs will be laughing all the way to the bank towards the end of the year if not sooner. I can understand your skepticism looking back but not looking forward.
I don't think you understand how the partnership with Microsoft works.
I also am an APP developer and have a similar relationship with Microsoft as does VERB. I spoke with them at length about the VERB press release and they had no problem with anything in it. The most likely outcome of the APP, when completed, I was told, is that it will be fully integrated with MS products, and will be sold through re-sellers, not by MS directly as an add on. This is actually disclosed in the PR. VERB could be the re-seller, themselves. If you want MS Outlook or Office 365, for example to have interactive video as a component, stay tuned as it could well happen later this year. OR it may not. If you are interested in my APP for immediate on-site psychological intervention and support for trauma victims of disasters, whether it be floods, tornadoes or mass shootings, stay tuned as well. We are currently building the data base, the software next, hopefully.
My first "real" job paid $2.56/hr for professional work. I guess you would conclude I am a total failure, if you were to apply the same logic as you are to VERB.
From reading posts today I can see there is a lot of anger at where Verb is now and that is very understandable. I never thought that in late April we would be at a 52 week low. Most of us longs have lost a bundle of money so why do I stay with this as an investment? Maybe I'm nuts, but I still see hope for the company. I have reinvested but should have waited longer for the dust to settle. I do believe we are at the low here, although it may take some time to build back up. I think today's news about Stream Energy is a very positive sign. It is an example of what I was told when I spoke to Sound Concepts last month, that they were building individual software for each of their customers to include interactive video based on the individual needs of that company; in other words rolling out the product for the MLMs. And some of you have looked into Stream and yes it is BIG. Revenues will follow, but it will take time. I like that finally the company is doing what it says it will do and I have talked with Chad Thomas about TaggPro and the integrations with the Major Partners and do believe they are on target for this quarter. If you can put your anger and the past behind you, I would grab as many shares at this price as you can and if you like as many warrants as possible and be patient. Rory said this would take months. If my spreadsheet is accurate buying at these levels is almost 8% below what the buyers of the offering paid. The RSI is below 25 and I would not be surprised at a big Green Friday tomorrow. My bid for shares at $2.00 went unfilled today and I doubt it will be filled tomorrow. GLTA
My understanding of what the broker told me is that $4 million was not available to give SC, that they did this as a "wash" or exchange within the original sale of securities and that there was more demand which was filled the following morning, although when I asked how much that demand was in dollars, he did not have that available to tell me. I doubt it was a huge amount, however, there was more demand than they could fill in the original allotment.
RECONCILIATION TIME: Yes TENKAY you are correct. I apologize if I gave the impression that Verb got an extra 4 million dollars out of the deal. I don't think Rory said that. It was my interpretation from the Press Release. I spoke with my broker again, who said the manner in which this was done (the choice SC made to buy 4 million dollars of units and not take the money in cash) was not to compensate for the offering being undersold, as the offering was oversold, but to avoid having to file additional documents with the SEC. He said it was a "wash." Again, I was reassured that all participants in the offering were heavily vetted to be long term investors in VERB, even in the over allotment, and there is not concern about the current SP. He believes that as the announcements of the results of major player integrations are announced we will see the kind of share prices that many have been expecting. He sees, as do I, that this is an excellent time to buy. Apologies to anyone who felt mislead by my interpretation. The long term story stays intact. Expect news from Rory soon.
I did comment on it. The insiders own the majority of the company already so not likely to see more purchased by them. It you believe the company will be successful (I did not always as some of you know) this is a sweet time to buy shares as they are trading (if you look at share plus option price) some 5% below the offering. I don't think this will be true for long. I have no funds left to buy more, but I would average down here if I could.
Form 3 Verb Technology Company, For: Aug 27 Filed by: Bond Phillip J.
I did not see anyone comment on this filing earlier today: Philip Bond a more than 10% shareholder filing on 66,000+ options exercise price $7.50 between 8/27/18 and 8/26/23 "to adjust for the 15:1 reverse split". Hummm makes those .85 cent options on sale today exercise price $3.40 or so look like a sweet deal. Honorable Mr. Bond is here for the long term as are many more who think VERB is the real deal.
Or yours is a false understanding, no matter how many times you post it. I tend to believe what I was told by AGP and IR at VERB. You are accusing Rory of very serious misconduct and I believe you are not correct in that or your math. I admit I don't have the sophistication to understand the transaction, but it is more than a matter of faith that I do believe what AGP told me!
It is difficult to understand, as I was told the same thing "only very sophisticated investors will understand the transaction" by the Broker at AGP who also told me yes, "VERB received the additionally 4 million in cash". Those who keep running numbers and accusing Rory of deception will eventually feel quite foolish. This is the first I had heard that VERB would have received only $16.5 million in proceeds, otherwise. LOL
I am long and I agree. If new investors think they can buy this tomorrow morning at $2.12, the closing price from before the Holiday weekend, and they have done their DD and realize the RSI is at 25.26, a chart indicator when this low signals a possible reversal, I wouldn't be surprised to see some buying. The float is so low, I would not be surprised at all to see a rally in the SP tomorrow. I think the long weekend gave some potential investors a chance to evaluate the $4 million dollars more that VERB gained in available cash from the offering, putting little pressure on the company to have to fund raise in the near future.
Numbers of Users of TaggCRM is difficult to know from the number of reviews. I read one article that said to multiply the number of reviews by 1000 to get the number of users of an APP. Only the owner of the APP knows the actual number. When I asked SC last month how many users of TagCRM there were, it was over 1900! I would address that question to Valter at IR now rather than see the number of reviews as a negative indicator.
My understanding is that AGP sold shares of their over-allotment, that the offering was fully subscribed and sold out. I believe AGP has 45 days from the date of the offering to continue to utilize the over- allotment. I look forward to seeing the final tally. My understanding is that SC changed their purchase agreement as it pleased them more to have the shares plus warrants than the $4 million dollars. A couple of years from now we will know whether this was a good choice. I think it was and as they know much more about the nitty-gritty of the pipeline was done with smarts.
CLOSED TOMORROW: THE markets are closed this Friday (Good Friday) in observance of Easter Sunday and Passover. Enjoy the long weekend and see you on Monday, when we rip.
I don't disagree with the disappointment of expectations not met by Rory. I felt those first hand and let the Rory and technical staff know of my frustration and disappointment. I suspected the lack of sales might be related to similar issues coming up with the major CRM players. The coming days will be a true test for Rory. None of the CRM corporations, including Oracle have disavowed their relationships with him nor have they fully engaged. This is still a risky investment but if it works out it could be very fruitful. I don't see much harm for anyone taking a starter position here nor hanging in for the long term even though the recent loses have been terrible. The value of the warrants indicates a perception of long term value after this turbulent start on the NASDAQ.
A month or two is not a new thing! The key to it all is the software now in development due out this quarter. I call it "Starship Ecosystem." Rory, I hope, will soon be our superhero as Captain of "Starship Ecosystem." I believe Rory addressed this in a recent road to NASDAQ video, as well as shifting to a longer term perspective. Disappointing, but not the end of the story. Far from it. I have strong faith in the team, Chad Thomas, the programmers for SC, now VERB possibly bringing this in sooner than the end of June. A progress report would be very encouraging given the beating the SP has taken. It does seem SC's style is to roll out one enterprise APP at a time. My hope is the one being looked at by Salesforce is of this new version and will be announced as passing security testing any day. That could double the SP in a heartbeat, imo.
Much Pain, I agree and I am a long who has lost mucho. I have put that behind me and see this no longer as a Unicorn Stock but a Phoenix (rising from the ashes). Based on my spreadsheet you could have at today's lows bought at the same price as those who participated in the offering, or within a percent or two. If you feel the company has a future, this would in my opinion be an opportunity to join the dozen or so institutional investors who priced it here for the long term. It not, I can understand.
GM. Clarification today on where the $4M went. I spoke again with the broker at AGP and was given permission to share this information with you. The final transaction with SC is covered in the last SA effective April 5, under “Use of Proceeds”, even though it was done differently at closing than what is stated ($15,000,000 cash and $10,000,000 in stock). The units issued to SC for 4 million dollars came from the original allotment, not the over-allotment. The proceeds went to VERB. “It would be illegal and violate SEC rules for AGP to have received the 4 million dollars.” He understood this could be confusing for unsophisticated investors. He will speak with Rory about clarifying this so the misinformation being put out on Ihub can be put to rest. He laughed and said “We would have loved to have gotten the $4 million dollars, but all we got was the 6% from the base.” This is my last and final comment on the subject.
The concerns about the PR and the offering are misguided. All of the shares were issued by VERB in a Public Offering of new shares. AGP brokered the deal and moved the shares to their customers, the final one being SC. So yes the shares were bought from VERB. AGP was an intermediary and did receive shares as commission. It may be the 4 million dollars came from the over-allotment, although when I did the math I only came up with 3 million dollars if the offering was fully subscribed; however if the offering was under-subscribed by one million dollars it all adds up without needing a new registration. You have gotten confirmation from both AGP (through me) and from the company (through Valter) that yes Verb came out with an additional $4 million dollars than originally planned as a result of this change at the moment of conception if the new final entity VERB NASDAQ. I will choose to believe what I have been told by the company and the brokerage.
Yes the blooming PR uses the word immediately, in transaction language, this placed 4 million dollars back immediately in the pockets of VERB. Plain English, no games. Still, if it was so misunderstood, I suppose it could have been written better.
Yes the 4 million is part of the 20 million, but the amount paid to SC was reduced to 11 million, leaving VERB with 4 million dollars more than if they had paid 15 million to SC. Why is this so difficult to understand and why call it a "shell game."
Ridiculous, I can't even understand your misconception of the transaction. Simple math. Verified by AGP. "VERB has 4 million dollars more now to work with". I'm sure you will hear more about this at some point, but pretending it didn't happen is silly, just because some don't get it or for some reason don't want to.
Well, if you subtract the 11 million from the 20 million, you get the answer which is 4 million more than if you subtract 15 million from the 20 million.
The only person who ever said this would be an IPO was Rory. That was long ago and corrected. The SEC is who I spoke to about this and they said an IPO was only possible if a previous one had not been done, which turned out to be the case so this had to be a "Pubic Offering". Interestingly this offering was done much like an IPO even though it was a follow-on offering. The road show for example is more typical of an IPO. I spoke today with a broker at AGP, not someone at the SEC, and no I do not have a recording.
$24 plus million did not go to Verb. The math is based on VERB spending 4 million less of their approx 20 million to purchase SC, as SC took units instead.
I told him about the discussion we were having and that some were saying that the 4 million did not go to VERB. He said that SC preferred in the the deal to take less $ and get the units from the offering. He said that the 4 million dollars "went to VERB". I don't think I misunderstood that. I called him to clarify the opposing points of view in this forum. I will believe what he told me as I understand the documents lead to a variety of conclusions that are different. He was there, doing the deal.
I don't see the $4 million mentioned in the final filing either. The broker must have been referring to the 15 million before it was reduced. However I did not misunderstand him telling me that $4 million dollars went to Verb. That is what I was told. I do have an account with AGP, by the way, I would not be lied to.
Bill if you can't believe me I am sorry to hear that. I will not give out the name and number because I don't want my source to be abused by hundreds of phone calls. OR, as he suggested read the final prospectus...go to EDGAR and do some DD. That would be better don't you think!
I just spoke with one of the brokers who did the deal at AGP. THERE IS NOW 4 MILLION Dollars more in VERBs hands. Case Closed. It is in the final prospectus as there was only one deal done. There were multiple prospectuses filed so perhaps this is where some of you got confused looking back. RORY is gold.
My take is that there is 4 million more for VERB as they put out 4 million less in dollars to buy SC company. What am I missing? It will show in the financials, pro forma on May 15
I don't have time to do the math today, although you ask a good question. I believe this could have come out of the over-allotment tranche, as I think I had noticed there were still shares available when the original document of the closing of the offering was posted, so a new registration would not have been required.
All true and a good way of looking at this from SC's point of view. If you have been watching the divergence of the warrants and shares since the offering I am sure you and others would agree that the long term sentiment for VERB is quite positive, whereas short term could be a bit volatile. Wise move for both companies for SC to get millions of warrants out of this and VERB 4 million dollars. Both companies are aligned for the long term, as should we investors be. I bought a bunch or warrants at .77 thinking they were pricey and now I am up 30%. Could be a bullish sign the way they are trading.
An estimate based on the burn rate of $1,000,000 per month for VERB--SC more or less meets their burn rate. There will be income during the next seven months which will offset the few million they have to pay in loans. "things are looking better, a little better all the time."
Seems like some simple math here is confusing some, even to the point of causing derogatory remarks. Keep in mind that AGP has fiduciary and regulatory standards to follow. They managed the deal including what was revealed today, that on closing SC IMMEDIATELY bought 4,000,000 units reducing the net outflow of funds from VERB to $11,000,000 from the originally stated 15,000,000. So no, VERB did not get an additional 4 mil, they still raised about 20, and it will show on their financials they only paid $11M not $15M to SC. the result is they are financially well endowed now for the next 7 months. DA. It is so simple I am not even going to call my contact at AGP or bother Rory and ask about this as it just would waste their time and make me feel foolish. The future looks better and better and better.
These are good questions and with time we will know the answers. The APP that intrigues me is the one for Salesfore as that APP is, according to the PR, submitted and in the process of evaluation for security review. We could get an announcement any day on that one and it could be a deal breaker. I got the impression from talking with SC that this is a rolling out process as each integration is dependent on the specific software they are inter-relating to. Brightools is the mother ship with which they do the development and lab testing.
Good find and thank you, although when F3 says they "are helping SC develop their software over the years" it isn't as clear to me that SC is not doing any of the heavy lifting. I doubt I was being misled when told "we are developing TaggPro." Semantics,it seems to me. Main point being the track record of successful and in-use Applications by SC is a sign of VERB moving in a positive direction after the debacle of V1 and V2 which personally was very upsetting and costly for me.
NOT TRUE. If you post information, at least tell us where it came from. The programming for TaggPro is being done in house. My source is VERB. I spoke with Sound Concepts about this twice as I am on the wait list for it and at the time was told SC was doing the programming. They are great programmers, by the way with some 35 APPS. They, now VERB, are working as we speak on TagPRO and the interactive video integrations for several MLMs and more. It will get done this quarter; Bank on it. I am, as an investor and video producer. Welcome to turn around Monday and see you tomorrow on Green Tuesday.
If any one on this board still thinks VERB is going down, you are incorrect. Just take a look a this tweet and you will realize this is history in the making. See you tomorrow on Reversal Monday!
EPIC!!! @VerbTech_Co $VERB @RoryCutaia pic.twitter.com/dj1Dmq129z
— Bubblesâš“ (@matzabalz) April 14, 2019