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Verus International Completes Requirements for Reverse Stock Split
1/12/21, 4:22 PM
Gaithersburg, MD, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTC Pink: VRUS) has completed its previously announced 1-for-500 reverse stock split.
The Market Effective Date of the reverse stock split will be published by FINRA and can be accessed via FINRA’s Daily List for Over the Counter Equities. The Company has been advised that the Market Effective Date is January 13, 2021.
Following the reverse stock split, Verus shares will be issued a new CUSIP number, and the share count will be reduced from a pre-split share count of 5,982,423,674 to a post-split share count of 11,964,847.
The Company will send out a written communication to shareholders as of the record date of October 6, 2020 with additional details. For a reverse or forward split, a “D” will be placed on the ticker symbol for 20 business days. After 20 business days, the symbol will then change back to VRUS. American Stock & Transfer is the transfer agent responsible for processing this corporate action.
“This is an important step that will enable us to move forward in our previously announced discussions with M&A candidates,” explained Verus CEO Anshu Bhatnagar. “We will significantly reduce our authorized share count following this reverse stock split and will announce that lower authorized share count in a separate communication and filing. With this reverse stock split now on the calendar, we can proceed with our strategies for the future.”
About Verus International
Verus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and on a global basis. The Company trades on the OTC market (OTC Pink: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, the Eliot’s Nut Butters website, www.eliotsnutbutters.com; and via the official Twitter feed @Verus_Foods, and the Pachyderm Labs subsidiary Twitter feed @PachydermLabs.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Contacts
Investor Contact:
MKR Group Inc.
Todd Kehrli or Mark Forney
vrus@mkr-group.com
Source:
1-500 RS just announced. Effective date Jan 13th
Lots of venting over unnecessary losses and yes it is 100% the CEO’s fault that he took millions in SBC, and put $500k into Pachyderm, rather than paying off existing notes. He let the notes convert, but never told anyone, which sticks the shareholders with the bill and it happened before anyone knew it was happening. Chris said the plan was to pay off the note and then nothing else ever said, and the note converted per the next filing.So yes it’s the CEO and CFO’s fault, without question! Also the OS was 1.5B and VRUS was debt free. Now the OS is double that or more, idk exact, but VRUS is loaded up with debt again.
Yeah, I will never invest in another POS OTC ticker. I no longer trade anything with large and bloated floats, such as this. It takes too much to move it. Like I said, this seemed legit in the beginning and we were all making money. It’s easy to stick around when the CEO says something and then executes. He built his own credibility this way and thus created his own latitude among shareholders...which he brilliantly took advantage of as any good crook would.
Bu you are right, never “invest” in the OTC, and it will never happen again. I would also add, never “believe” anything these “company’s” say. It’s most likely BS for pump/dilute sakes and most of them are barely even companies.
Win or Learn! Most walked away with a lesson on this one. I left in the summer when I realized what was happening. I was briefly in contact with AG a few times and while I never got much detail, I know that he that he was excluded from knowing anything about Pachyderm and that was all I needed to know. I literally just checked back in and now I’m pissed off all over again to see this in the trips ready to RS. No excuse for what happened here.
-C
He is a shotty finance guy trying to play public CEO, only he has no idea what he is doing. And I mean none. He’s not even a learn as he goes kind of guy. He is as dense and I’m sure as ignorantly arrogant as they come.
His idea of building a business is to buy control of someone else’s business with other peoples money, so he can claim the revenues as his success under public shell business. But he never sees them through, unless they require no time or effort from him. Most businesses functioning successfully aren’t for sale. Businesses get sold for a reason, usually do to struggles. So he buys these struggling businesses and doesn’t know how to help them, nor does he give them the resources to succeed. After a while of more of the same from that entity, he loses interest and is off to chase the next shiny new pipe dream, and he takes funding away from the existing businesses to do it.
If he was Saavy at business, he would have seen what he had right in front of him the entire time. He should have leveraged AG as a free consultant CBD. I mean, why wouldn’t you ask. Of course he wanted to be involved. He was our lead investor who’s specialty just happened to be CBD. And he had a vested interest in making it a success. That’s how a businessman would think and approach this business. But, a scammy finance guy, ignorant to how businesses work, would see an opportunity to take more for himself and cut out the lead investor, lying, stealing and scheming. Then he was left with a CBD business that he has no idea how to scale.
He makes bad deals without doing much DD, imo. He only looks to obtain instant revenues. That was fine at first because he already knew the food distributors that he was buying. So we scaled revenues quickly and it made him seem brilliant. Turns out that’s all he knows.
Of course back then he was constantly touting shareholder value and sucked us all in with triple digit growth and rocket emojis for shareholder equity. There is a tweet where he said they would never pursue a RS without a “reason,” and in that same tweet, he said they would not pursue dilutive financing. So many lies over the years, that even he can’t keep them straight. We just hear about these super duper opportunities and then nothing is ever done with them and we never hear anything about them ever again. There was the Buffalo contract worth $70M or so...the constantly touted backlog which never got filled...supposedly $38M in food contract backlogs that they could execute at any time, never did...Commercial Financing...Disney Juices...$10M Rice and Honey deal...French Fries...BLF - MLB candy and ice cream, with all these locations and contracts...then Nutribrands...then ZC Top (masks)...then the MFG plant in Houston...then Pachyderm...then Nut Butter. Not to mention the fake debacle with the Audit. He could have released unaudited Q4 numbers to us anytime, but chose not to. He is either really dumb or a very good con artist, neither of which should be running a publicly traded company and making decisions with money that isn’t his.
We never hear anything about the businesses producing all the revenue. We never see balance sheets or any financial info, just a line item of revenues. We don’t hear anything about them, likely because he is not really involved in those businesses. They don’t need him and likely don’t want him coming in and pretending like he knows everything about what they do and screwing up their businesses. He is toxic to any business that he gets involved with and he is a moral hazard to anyone who invests in his company or gives him money. He is the quintessential scumbag CEO that the OTC is known for. Max out the OS and RS, rinse and repeat.
Alright, I’ll get off my soapbox...he still makes my blood boil. Even more so because I believed he was going to be responsible with my money and I even defended him while he was planning to steal from me and my family and you and yours. I truly believed he was going to do the right thing, but the truth is, he is incapable and this is his legacy.
He is a low-importance scum bag OTC CEO that made his millions, not from success, but from stealing from thousands of everyday people. People who should have had their money elsewhere, but misplaced their trust based on false narratives and purchased revenues. Congrats Anshu, you tanked another business, but you still managed to get paid. I guess that means you are good at doing harm, and that’s an unfortunate skill to have perfected.
-C
Lol...Did anyone end up getting the masks they ordered? I wasn’t sure that was real either. It seems not much else is.
Wow, Anshu, I hope you base your success on how much shareholder equity you steal. What a waste of potential. All they did was F up a decent thing. They could have made millions alongside all of the shareholders, but they decided to cut us out, leverage this up, and the money is probably exiting the back door via Elefantitus CBD or whatever TF, he calls it. That entity will fail too. This has gotten uglier than I could have ever imagined and now I’m hearing they’ve lost BLF, WTF?
It’s almost unfathomable to think where we were last year vs where we are. I’m not in and I’m not bashing. I just saw how low the pps got and almost bought a few shares, but I can’t give another dime to this company, if you can call it that. It’s throwing good money away at this point, I’m afraid.
I really thought Anshu had good intentions in the beginning. I hope he did, but regardless, he is just not good at anything except fancy “crooked” financing, which steals shareholder equity. He is not responsible for any of the revenues of Verus. He is a guy that buys revenues with other peoples money, and takes credit for other peoples hard work, but never takes responsibility for failing. He is a narcissist, who thinks he’s brilliant, but he is just a low level scam artist, that should be wearing a blue blazer, and getting coffee for real Wallstreet Investors. Make no mistake about it, Anshu is 100% responsible for stealing “all” of the shareholder equity. Ever notice how this only happens with OTC companies? Let’s be honest with ourselves, losing 100% of the shareholder equity doesn’t happen on accident. It takes a coordinated effort to take a MKT CAP of $45M, down to $2.5M. Where did it go?
Every business that Anshu has touched or “initiated” has squandered and turned bad, or never existed. He isn’t in this for the right reasons any longer, if he ever was and 2020 has told the tale of this story.
I’m not here to tell anyone what to do. I’m just here to revisit some old friends, vent a little more about Anshu, and tell everyone else, that I’m sorry, we were all fleeced. Myself included, but I bailed when I started questioning things. Check my post history for those that don’t know me. You’ll see how long I was invested and when I left. Everyone has their own opinion, and these are my thoughts. GLTA. I hope to see you all on another board someday. Come find me on Twitter @CrozzTrade. Take care all...
-C
Also, no notes are currently in default...he replied to someone’s post on Twitter claiming defaulted notes, so that’s a big motivating factor as well!
Interesting turn of events here. Congrats all! I nabbed a small collection of $.0013s this morning. I’m happy to finally see a turn around. I do feel as though this is the turning point, though the OS is higher, so there may be more of a ceiling, but time will tell. This is what I wanted from Anshu all along. Just say something and call attention to it. So, because Anshu finally called it out and acknowledged the slaughter that has occurred, I feel as though the majority of the dumping will cease. He’s not off the hook by any means, I still blame him for allowing it or causing it, and I’m not necessarily back for the long haul. I still have a lot of uncertainty and will lnever risk my money here the way that I did before. I’m cautiously watching with anticipation! GLTA
-C
You bring up a good point. Maybe Anshu is getting taken advantage of in these deals. We always assumed he was this shrewd business man who knows all the angles. I think it’s the exact opposite and he doesn’t understand the publicly traded side of the business and how the financing on the publicly traded side is very different than a privately funded company. This would actually make a lot of sense and answer a lot of questions that I have. It would also explain what we have witnessed since last Sept, including the Audit debacle and the notes converting. He said it himself, that he “doesn’t really trade stocks” which could be why he is so quiet. Maybe he truly doesn’t understand how to stop what’s happening and the more he says the more he exposes himself.
Im just spitballing here. I keep wanting to get back in, but I can’t bring myself to do it, not even at these prices, because no one has explained what is truly going on. It’s either intentional or unintentional on Anshu’s part and I’m really not sure which I would prefer.
In my heart I have always thought he was a good guy. I still think I believe that, but I think he tried to grow these 2 public companies with the same exact model as he did the private company, and you can’t do it that way without a heavy knowledge of convertible debt and institutional financing. I think he got taken advantage of, and instead of circling back and cleaning those up, he keeps borrowing more, to start new entities and fund pipe dreams. At this point I don’t see a strategy back to the valuation or the pps that we once enjoyed. The only way to do that is to clear the debt, and it seems that’s not currently a priority, imo.
I still wish you all the best. I want so badly to load the boat here at this pps, but each time I have tried that in the past, it went lower. I have no idea where the bottom is, this is crazy. I never, ever, in my wildest dreams thought we’d see a pps lower than where many of us first started in this company. This is crazy and it really is super cheap, if Anshu ever starts tackling the notes. I want to be in so bad, but I just can’t. I will stay close and share anything I hear or any thoughts I have going forward. GLTA
I still see some familiar names in here!! I have no position here, but I know Auctus to some degree and I wouldn’t worry. It’s what they like to do. They try to intimidate to get more money. My 2 cents here is that Auctus likes to sue those it lends to. It’s a garbage fund that Lends money on terrible terms to company’s that have no other option and then apparently likes to hold them hostage and sue those they lend to, to extort more money. They love to settle. They just want money. They don’t care anything about the company’s they are “investing” in. I was heavily involved in another ticker for a while and they were suing them as well. It’s no big deal, just the course of dealing with OTC loan sharks. Just google “Auctus Fund litigation”...in about 15 secs of reading I came up with 14 different lawsuits they are involved in or have settled over the past year.
I just popped in to see what was going on with one of my old tickers...I’m pretty much done with all OTC stocks after my experiences with the supposed “good ones,” which I’m convinced, don’t exist. I’ll still trade them from time to time on a short swing, but invest, I will not. I wish you all the best! GLTA
-C
Lol, if that doesn’t get you a little bit excited, I don’t think you have a pulse. I don’t know how realistic that is or isn’t, but with the right news and a low float, at this point it’s at least possible, but anything near that is veru exciting. This could be the runner of all runners for anyone who gets in at these prices. The market is chasing silver and walking over the platinum that is just starting to show itself. GLTA...these are my opinions!
$COCP
C’mon - release the results of the novel Covid 19 studies and announce the start of human trials, while all of this is hot news. Gov’t funding would be a great touch as well
Eyes are on this. Just a matter of time, imo. This was alerting AI scanners as a buy/watch this week. An update is coming and she’s gonna fly! GLTA
Big money coming in. Very large single bid 36k shares @ $1.71
Human Clinical Trials for Covid 19 Vaccine should be announced any day now. Likely followed or accompanied by a large gov’t grant to fund the trials
*DD* CEO Quoted in Article out today on Covid 19
“The pandemic has brought together people from many sectors—academia, industry, and government. “One of the wonderful things that’s happened during COVID-19 is that people are working together more so than I’ve ever seen,” says Gary Wilcox, the CEO of Cocrystal Pharma, a company working with scientists at Kansas State University to develop novel antiviral compounds to treat COVID-19. “Scientists don’t always join together in one great big group for the benefit of mankind. But here, there’s been a remarkable sharing of information.”
https://www.the-scientist.com/bio-business/how-the-pharma-industry-pulled-off-the-pivot-to-covid-19-67719
There’s a familiar name...good to see some good peeps in on this one! -I’ve been paytiently waiting on this one. Should go parabolic on news real soon. GLTY
Here is a response I got yesterday. He isn’t saying much, but it’s not his place to. He is being honest about it being mgmts responsibility though.
“Andrew Garnock has been selling for a while, so that is pretty public with the Form 4's. I can't comment on your Pachyderm theory, except to say that it is off target and the reality there would surprise investors. The back story on this sort of thing is far different than what you might imagine. That field is so large, there is room for many competitors. As for the management of the business, those are questions that must be addressed by Anshu and Chris. I try to answer questions quickly and accurately, but some of the latest issues have not been resolved or answered by management yet.
I am passing on more emails and commentary than I ever have, but at the end of the day, it is up to the team to issue the kind of news that will turn sentiment back in their favor. The notes and the status of shipments are the two main questions. Verus has made their projections every quarter except the pandemic quarter, so if they say this will be a strong quarter, that is the one area where their track record is very good.
Mark”
I appreciate your kind words GC. I always considered your DD to be one of the best on the board. I know what your saying, and I have tried to find the positive. I never thought Anshu would let this happen and the way it has gone down so silently just seems different. I asked question after question only to be met with the same revenue talk. I just don’t see a bottom here and no amount of revenues are going to offset dilution. This could be a 5B share hole. I can’t be tied to this stock anymore and I didnt want to ride lower than my initial investment. I hope I’m wrong and it works out for you all. It’s been great being invested with all of you. I’ve made some great friends here.
Ultimately, they lost my trust. Integrity means a lot to me, and when I start seeing things that seem questionable or hard to explain, I give the benefit of the doubt until I can’t any longer. The answers are far more scarce than the questions and I just don’t know why that would be. Communication has gone dark and things rarely get cleared up. These are all red flags to me and there has just been too many.
I have always posted my true honest sentiment that I used in making my investment decisions. I feel when we are very public about our position, it it’s only fair that we voice concern when that sentiment flips. That and some venting of frustration. It’s been building for a long time, I just always thought it would go back up.
I’ll stay close to it. If Anshu takes the new funds and pays off all the debt, I will come back in. That might be his only path to saving grace, imo. I just don’t see that happening. I think what finally pushed me over the edge was the decision to buy Pachyderm inventory, rather than be financially responsible and use those funds to pay the note. That was an undisciplined choice and reminds me of the guy who can’t afford to pay his mortgage because he bought an expensive car. It looks really bad right now and with no one clearing the air, speculation, rumors , and assumptions is all we have.
I hope I’m wrong about all of this. I truly wish you the best (Healthy, Wealthy, and Wise). Take care! -C
There is no money left in this room. Hit up Anshu, he cleaned us out
We can agree to disagree on this. I have gotten to know some of them outside of iHub and I can tell you, they lost on this as well.
I get it and I appreciate what you were trying to do. I just couldn’t hear it or see it at the time. I wish you the best. I’m glad you’re making money on your OTC. I’m prob out on anything OTC for a while and nothing long term ever. Come find me on Twitter @Crozz1111 and we can have more stock convos there. I prob won’t be spending much time on the ole iHub. Later -C
Yeah, all good. Its hard to know people’s motivations on message boards. Heck, it’s hard to know a CEOs motivations (wink)! I’ll admit when I was wrong. I probably owe you an apology if I was hard on you for your stance. I prob was at times. That goes for anyone else I was hard on, who was calling it correctly.
Polvo, I hope you walked away with profits. I didn’t realize any losses, but the reality of it, is that I did lose a lot. I lost big profits and kept all those funds tied up here for 2 years with not much to show for it.
Lesson #1 Always take profits. You can always buy back in, later, but secure them at a certain point. GLTA
-C
I can’t respond to PM’s. All I can say is that I was wrong about Verus and it cost me a lot of money. All of the hours of DD and discussions ended up being for nothing. I had a very substantial gain and it slipped away and I kept waiting for it to go back to the highs (never do that - my lesson be happy with any profits). That’s all I can really say. If you want me to tell you, you were right, “you were right,” but it wouldn’t have mattered what you said, because I typically don’t make decisions based on what others say on message boards and I was not seeing what you were saying at the time. In hindsight, yes, I wish I would have sold long ago, but that’s not reality, so I’ll take my lesson and go.
I agree toxic debt ruins investments. Early on the convertible notes were among friendly investors who were also shareholders, (AG, Monaco) so it didn’t seem as much of a risk as it did a short term finance deal to fund revenues. Anshu seemed to be more responsible about debt back then. But I think he got greedy and stopped being responsible and stopped servicing the debt and just stuck the shareholders with the bill. Its a shame how this played out, but it is what it is.
I’ll stick to trading low float big board stocks from now on. I will never leave money in the OTC. I might trade one on a swing, but that will be my tolerance. As I am thoroughly disgusted with myself for missing profits, but also for missing what was going on and misreading this so badly. I put my faith in Anshu, who seemed different early on than anything I had seen in the OTC. That’s how he hooked all of the Long’s and gained our trust. In the end it was all for deception and manipulation. It’s all on Anshu/Cutchens for not being honest, but I should have gone long ago. My mistake was believing this OTC was different. Obviously that was a mistake, one that I won’t make again. I do wish everyone the best of luck here and in the future. I hope the SP returns with a force for all who stay. I will maintain a few shares on watch for a while, but I am all but out. GLTA
-C
No - This is DD, my friend like it or not. It’s public info, there for anyone who’s looking. I’m tired of being manipulated by a CEO who’s only looking out for himself. Anshu has crushed all of our positions and now he’s taking money from 20 somethings and calling it a huge win...do you think that’s impressive?
Well if I was like them, I would be doing the opposite and pumping as I was selling. I am being honest about my position and my sentiment as always. I never really got to know you, but check my history. I’ve never waivered from my position until recently, which why I’m exiting. My intent is not to hurt anyone’s position. GLTA
The new Angel Investors are just out of college.
White Lion Capital, LLC was just incorporated last year and the year before that, these gents were Juniors in College.
https://www.google.com/amp/s/www.forbes.com/sites/johngreathouse/2018/07/16/hatched-in-a-dorm-room-this-25m-investment-fund-is-redefining-venture-capital/amp/
Lol...I really didn’t intend it to be this way. I just have this feeling that Anshu no longer cares if we make money with him. Plus I no longer trust him. I was always here for the business, and even that seems tainted and questionable.
I said what I meant, because I don’t see the share structure improving, it’s actually going to get worse, imo, and the pps seems unimpressed by any amount of revenues thus far. My intention is not bashing, I’m just disgusted at what I am witnessing. I’m not going to wait around for more dilution leading to a RS/uplist. I don’t see that helping and so this is no longer attractive to me, which is a shame. I spent a lot of hours DD’ing Verus and waiting for the big run. This was a great board and I learned a lot from many of you. I always appreciated your honest sentiment as it seems raw and pure.
Plus, Verus’ lack of performance from an investment perspective, has made me look elsewhere for greener pastures. I’ve seen the stocks that run hard and they are almost all low float stocks. Verus is anything but that. So it’s really going to take a lot for it to move significantly, imo.
Again I wish you and everyone the very best! Good Luck!
-C
That’s not accurate, the bottom is TBD at this point, based on home many shares are on the block. When the stock was skyrocketing, there were not many shares in the float. It’s more than tripled since then. That’s why the stock has sank and not found a bottom. That’s what happens in Moral Hazard. Anshu has a lot of shares to add and he’s already started. At the current share price, $5M in private offering buys roughly $1.7B shares. And yes I will go, but I will not go quietly. This is not a healthy investment for any investor to get involved in. Anshu has taken from all of us. I don’t fall in line when someone takes money from me. I rise up. This is about more than just leaving my position. He is making poor choices with our money while guaranteeing his money doesn’t share the same risk...that’s Moral Hazard, which should be illegal, but it’s not. Just exposes Anshu’s character as a Con Man
Are you kidding me? This isn’t the start of anything. Yes, maybe in the beginning you start an OTC before you slowly begin to head toward the company supporting itself. That’s not what’s happening here. Anshu just collected $8.2M in SBC, and our shares are worth peanuts. Yes, we knew that was coming, but that doesn’t make it right. I haven’t really even focused on the SBC, but it’s really f*cked up considering the coronavirus and that the company only brought in $13M last year. SBC in this quarter = 63% of previous years revenues, yeah that’s normal. That’s really not even the worst of it, where did all the money go from Operating Expenses $1.296M this year vs $377k for the same time period last year and revenues only increased by 56%.
I may have gotten the wool pulled over my eyes on the investment side as I trusted Anshu and let my guard down, fool me once...but I know when things don’t look right, feel right, or smell right. This is not how a 3 year old business should be run and this is not how shareholders should be treated. To keep money here is the definition of Insanity. Expecting a diff outcome...nothing will change. Moral Hazard is at play here and I will not be fooled twice. I am out as soon as my orders get executed.
Money is leaving this company without being documented and it’s not going toward debt, so where is is it going. Oh, operating expenses, really, that’s the line item entry Chris,??? Is that a joke? Care to elaborate Anshu or Chris? Care to share why operating expenses went up almost 3x and revenues went up by .5x vs the same period last year . I’m sure there is a great explanation why they would spend $919k to grow by as much?!?!
Two words: Moral Hazard
Verus will continue to borrow money from shareholders, which it will never have to pay, because it does not intend to ever pay back the money borrowed from company revenues earned. Anshu is content on taking our money to repay debt, and he will continue to borrow more. Remember $500k was spent on Pachyderm Inventory and could have paid off the note due. The note due will now be paid off by selling shares or letting the note convert.
“Moral hazard occurs when an entity (Verus) has an incentive to increase its exposure to risk because it does not bear the full costs of that risk.”
They have an inverse relationship.
I did ask that question and his words were “it was news to me”...interpret that how you’d like, but I took that as he was not ever involved or consulted
I agree, I think the business is legit. I think most of it is handled through subsidiary businesses that operate independent of Verus and then report up to the mothership. There are likely balance sheets from each region in the food business, which is why it gets summarized on the filings. I think Anshu is involved only at a very high level in each business. He may not know the operational side of each business. I really don’t have issue with anything related to the core business. I always thought of this as more of a holding company that we were building.
I am happy to share privately, but I can’t DM.
If you can DM, send me your email and we can communicate that way.
I regretfully admit that I bought into it all as well. I think Mark and AG did as well. I have had communication with AG and he doesn’t say much, but I get that he doesn’t feel AB has been honest and I don’t know that he is long for his position here. I really don’t understand why AB would undercut our lead investor on a business that is what he specializes in (CBD). AG was cut out of the Pachyderm deal, and now Verus competes directly with his own company. I confirmed this, AG is not involved with Pachyderm, nor has he ever been. So now his investment, where he is the lead investor, is most likely a conflict of interest for him...see where I’m going with this. I don’t believe Anshu makes mistakes. I think he is very smart and very manipulative. If AB wants to be the last one standing, he is executing that to a T.
I am 100% in agreement that I will never touch another OTC for more than a day trade or a momentum swing. This could have played out so differently and it’s truly a shame. I am getting out. My avg is mid .002s, so I’m not down yet, but I left so much on the table, it’s sickening to think about. All because of Anshu’s actions and statements. I feel like a fool, but lesson learned. I hope you get your pop and can at least break even. GLTY
-C
I think Anshu has forgotten where he came from. He is building revenue streams for himself and not an investable company. I think he’s probably honest about revenues and that’s about it. He clearly doesn’t need us anymore and doesn’t feel the need to share anymore than he has to.
His shade lies in the “back door dilution” deals disguised as loans. He is building revenues with our money, while convincing us this is a great thing. It’s a brilliant and legal way to take money and never give it back. It’s OTC 101, just more deceptive, which allowed him to operate freely for longer, driving the pps up and robbing it all the way back down.
We wont ever get to benefit from those revenues. They will never go toward repaying the loans or rebuilding the equity he stole from us. He wont buy back any of the shares that converted, which would be the same as paying off the debt at a later date. He doesn’t think that way. He is 100% self serving now and I can’t believe I didn’t pick up on this before now. Kudos Anshu, you took money from hard working people without asking while pretending it wasn’t happen. He will never give any of it back. The thought will never cross his mind to share any of the company success with us ever again. Oh just let the shareholders fund it all. It’s a brilliant new take on the traditional OTC playbook of letting your shareholders fund everything. I mean this is high level, premeditated thievery. We trusted him, which was part of his plan, but the only way we could add value to Anshu, was for him to get money out of us, and our equity was there for his taking.
Anshu is the worst kind of OTC toxin, or maybe he didn’t use to be and this is Chris’ influence, but either way, he is officially black booked as a small time OTC crook, imo. He stole all of the shareholder equity to fund his SBC. The company is thriving and the investors are starving, that’s counter intuitive, unless that was always the plan, which is why we’ve stayed in the OTC for so long. Just couldn’t let all that free money (our equity) go to waste, right Anshu? Fund growth with the equity built up over the first part of last year - via dilution, but delay the dilution and disguise it as debt while knowing the shareholders will be the ones footing the bill, just don’t tel ll the shareholders or they’ll leave taking “YOUR” money, right Anshu, you see it as “YOUR” money. Like I said, the he is the worst kind of toxin. Those that get close to their mark in order to rob them.
I see the plan vividly now. Once he’s pilfered the all the equity, he will plan an uplist and get everyone excited and on board with the RS, convincing everyone that this is a good thing, when in reality - it clears the trail of his deception and the history of his deceit. He will benefit from the new low float NYSE stock (post RS) with “triple digit growth” for 7 out of the last 8 quarters and the story goes on.
It’s a fairly unique take on the typical OTC dilution play. I have not seen it before and did not see it coming. I don’t know why smart people go the route of doing bad by others. I guess he felt like he could. Money can do that to people. It can be the root of evil for those who can’t control themselves. That was never his money to take. He is smart financially, but morally compromised.. I’m on to you Anshu. Smart criminals are still criminals. The thing about greed, is it never stops and will eventually be his downfall.
I don’t think the Virus is what is plaguing VRUS. Though it has no doubt has added to the issues.
I think everyone would give them a pass for revenues in Q2. I have no issues there and will even give them credit. It’s the unrelenting debt and growing revenues at any cost that I have issues with. It equates to not being financially responsible I have a huge problem with that.
Opportunities come and go in life. I see them daily in the market. I don’t always have the funds to take advantage of each one. But I wouldn’t ever consider skipping a mortgage payment because there was this one opportunity that was impossible to pass up. That’s called fear of missing out and that’s a grossly undisciplined act from the management of a publicly traded company. It’s irresponsible or even negligent at best. We payed for $500k of inventory, rather than servicing our financial obligation (debt). He’s basically taking our money to fund revenues. I never agreed to that.
3 CCs was self induced. There is no justification to any of this. When you file the 10k 3 mos late, you run into other filings. It’s that simple. Even through all of that, he only once was honest and wrote a letter to shareholders vaguely explaining the situation...in the 11th hour, no less. He will do exactly as you say, and go silent, because that’s who he is... a ____________. (I’ll let everyone fill in that blank themselves)
They certainly should be able to pay off the note. This isn’t a new phenomenon. This date has been on the calendar since the notes inception. It’s called money management and they better pay off this note. There is ZERO (I repeat ZERO) reason why this note shouldn’t get paid off. This is a financial obligation. Pachyderm was not a financial obligation. If we spent money on all that inventory and don’t pay this note, that is financially irresponsible.
Revenues at all cost are being funded by us, the shareholders, who are being diluted with each note. If Anshu borrowed the money, he needs to pay it back. This is a make or break moment for Anshu, IMO