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That’s exactly what I have been preaching to the company for days now! The market needs an olive branch of trust. Just a sign of confidence to prove that this isn’t a dilution play to line Anshu’s pockets. I don’t believe it is. I think he’s got more skin in the game now and he’s staying focused on the Revenues, but the market and shareholders and share price need some attention, right now. IMO, this would go much further than any amount of order volume could right now. Just my 2 cents
PAUL - PAULSON INVESTMENT COMPANY LLC
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Why is Paulson trying to hold the price down buying/selling/undercutting in 10,000 share increments constantly walking the price down? IDK- let’s ask them. I’m sure one of these 2 would know something about it...
Ron D’Angelo
Ron D’Angelo brings a wealth of knowledge and experience to Paulson Investment Company, LLC with 30+ years trading the markets and executing orders for broker dealers and hedge funds,. Starting in 1986 at Donald & Co., his career consisted of working at some of the largest wholesale market making firms. These firms include Wien, Hill, Thompson & Magid, Jesup & Lamont, and Sharpe Capital. In 2004, he started and managed Seton Securities Group, where he was in charge of institutional trading and order execution in both foreign and domestic equities. He oversaw a staff of 15 equity and fixed income traders. After Seton Securities, his career continued at various firms including Buckman, Buckman and Reid and Celadon Financial where he managed the Institutional and Broker Dealer trading desks. He has made markets in over 200 securities and has been consistently profitable.
Robert Oakes
Robert Oakes started making markets and trading in 1987, working for various firms until 1991, which is when he moved to a major wholesale trading firm, M.H. Meyerson. M.H. Meyerson made markets in over 5,000 listed and OTC equities. He left M.H. Meyerson in 1995 to help start South Beach Securities, a firm specializing in bankruptcies and reorganizations. As president of South Beach, he made markets in over 50 OTC equities and oversaw both the equity and fixed income departments. After leaving South Beach in 1998, he continued to trade and execute broker dealer/customer order flow with various firms, most recently, Buckman, Buckman & Reid and Celadon Financial, always maintaining his focus and expertise in the distressed arena.
Who sets the ASK 2 ticks below the last traded price for 10,000 shares...PAUL that’s who...tell me that’s not manipulative...that’s not someone selling off, that’s someone holding the price back
49% of a large order is much more than 100% of no order. Without Verus, they can’t accept or fill large PPE orders, because they don’t have the financing or the funds.
That 30M share buy probably got filled and they’ll prob wait to report it EOD...crooks!
This is totally fabricated and fraudulent. If not, please post where you read this. You replied to a post about warrants. Warrants are the right to purchase stocks at a specified price. No one said anything about anyone selling anything. You volunteered this info out of the blue. Please enlighten us...
Who owned that note?
It’s thin to the mid 10s
The wall is gone
The share price needs some attention now, in a way that improves the fundamentals. Orders and revenues are great, but I would like to see something more concrete. I’ve addressed this all with the company as well. Let’s see how management responds. They need to address it soon.
I would like the $2.8M from the execution of Anshu’s warrants (or the $2M Covid 19 Loan)
to improve the company fundamentals, not go toward order funding. They need to pay off convertible notes, or a stock buyback would work too, but this seems redundant to me, while we have convertible notes still outstanding.
I want to know if there is a date on Anshu’s warrants and when the company can expect this capital...We shall see
Here is the host website
https://plandemicmovie.com/
I didn’t see this video either, before it was removed. What was it?
Great question and very well articulated on your part! Ha, I didn’t know that was you!!
I was happy with the response and the 8K, but (I/we) many of us have business mentality and experience that crosses over into investing and I can say that I understand Anshu’s position. I would say most longs are watching the business and waiting for the stock to stop being manipulated and catch up to the Revenues. I know these M/A’s can’t happen overnight and I don’t expect them to, but again we have to have bigger picture mentality and vision that doesn’t include the daily stock chart (small poke, lol) in order to see the numbers we all want.
$VRUS
If the Dutch PPE order is delivering, that means Verus funded this order. TAM didn’t have the funds to fulfill these orders. Anshu follows through on the business side. Besides he already said they have a binding irrevocable agreement in place.
If they filed an 8-K, it’s happening...
Yes awesome news!!
I like my idea of Anshu purchasing the warrants and the proceeds get used to pay off the convertible notes, or at least a large portion of them. I haven’t looked to see what the convertible debt amount is, but seems like $2.8M could go a long ways towards it paying off and hopefully we’ll have a LOC by then and never have to finance anything with shares as collateral ever again!
Then it’s a wash. Shares to Anshu, no big deal, he’s not selling, retire convertible notes, huge deal!!!
Great post Dvok! I agree whole heartedly! The revenues are the thing to pay attention to right now. If we do that well now, it sets the stage for the future and we have all the time in the world to lean out and become more efficient and highly profitable. The fact that they recognized and addressed this stock based comp as an obstacle to profitability this early, speaks volumes to the level of dedication (IMO) and importance bestowed by the company to becoming profitable sooner than later.
$VRUS - becoming a stronger company everyday
Hey ST, thank you for your always thoughtful responses.
I really didn’t put a lot into that post based solely on who I was responding to, but you are absolutely correct. Thank you for elaborating. These will be issued as warrants to purchase as part of his new contract. So it’s not like their giving away the keys to the Castle, he’s always had those anyways. He has the option, but not the obligation to purchase the warrants. I didn’t see a time frame listed, unless I missed it, but there is typically a time frame associated with warrants. So yes he gets them at a discount, no doubt, but they aren’t just shares given out freely to him. The cost to him is still a whopping $2.8M. Which I’m sure the company could use if he decides to execute these warrants. It’s no different than Andrew Garnock coming in and buying more shares. We all celebrated him and all he did was invest. Anshu is the reason Verus exists as it does today. It’s his vision, his persistence and his connections, that have provided this company the growth and expansion over the last few years, but mainly the last year.
I’m going to find out from Mark if he has to execute these warrants in a specified timeframe, but if he does, imagine what $2.8M could do for the company? They could pay off existing notes and retire the shares issued in convertible notes. That would go a long ways toward shareholder value.
This doesn’t bother me. I don’t see this as a bad thing. It’s not a cash expenditure. It shows as a loss on the balance sheet, but I would just assume rip the bandaid off now and get the shares into the hands of our CEO and driver of all things revenue. Revising his comp plan in this matter will benefit us all in the long term as we can show profitability sooner without those balance sheet costs, as you mentioned
Plus, If he sinks $2.8M of his own money into company shares, that’s a sign of strength to me as a shareholder!
Again, this is my own interpretation of the events unfolding. I do think this has a positive shareholder affect, in more ways than one.
Thank you for the kind words and all the same to you and yours!
Thanks for the shares and the memories. See ya!!
It was in his contract since 2017, when Verus had very little revenues. He’s done a great job and I don’t have a problem with him being compensated for it. It just started to get a bit lopsided for him and to be fair to investors they’re changing it. Name one other OTC company that changed the CEO compensation to improve Shareholder value... I don’t know of any. I think this is likely one of the best talking points coming out of this 10Q/CC. That is the sign of a company that is responsible to its shareholders. It’s hard to believe a company like Verus exists, but this one does. Might as well get on board. Everything that has been thrown around about the company the last few weeks was addressed here and laid to bed. GLTY
$VRUS
To be fair the Q was released after the market close, so any response to the recent filings will be felt tomorrow and going forward
For sure, they applied for a $2M Loan. Imagine what that can do!!
Verus crushing it so much they have to reign in the CEO Compensation plan, because the company is exceeding everyone’s expectations!! That’s what performance based comp plans do! It’s motivating to the right individuals and Anshu is knocking it out of the park!! What a great success this company is already and what a good problem to have. I’ve said all along that the plan is to develope revenue streams and grow them and then refine business practices for efficiencies and profits. Now we’re doing both simultaneously!!!
How responsible of the company and CEO for addressing this!
$VRUS
Yeah, I agree. I feel great coming out of this CC. I think the CC on the K was a weird format and it didn’t seem like they were comfortable with it. This felt very comfortable and I feel much better about the big picture coming out of this CC. I am most looking forward to the Verus Care’s orders flowing in. PPE and Masks in general, seem to have very high margins and the orders may be very high dollar and quantity volume. I think the connections to India and Vietnam with production will be great places to source future orders as well.
If all we were is Verus Cares, I would be here. The upside is tremendous and the core food business is consistent, which gives revenues a level of stability unmatched in the OTC. They’ve always talked about being a Consumer Packaged Good’s company. I remember Anshu speaking to this very early on, at least in my tenure, maybe back in 2018, about the possibilities of adding cosmetics and other lines to the lineup. I thought he was talking about the supermarket setting, but this is a different level. Wait for the true valuation. I’m interested in anyone’s thoughts on what the true company valuation should be at this point. I have my perspective, but I’ll hold off on sharing mine. Congrats to all on a great cal!!
$VRUS
They already addressed this...try to keep up
VERUS INTERNATIONAL ACHIEVES RECORD QUARTERLY REVENUE AND PROVIDES UPDATE TO BUSINESS PROGRESS
April 29, 2020 16:05 ET | Source: Verus International, Inc.
Gaithersburg, MD, April 29, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) reported results for its first fiscal quarter ended January 31, 2020. In conjunction with this release, the Company is also providing additional details on recently announced business opportunities that will impact the 2020 financial year.
For Q1 2020, management is noting the following items of importance:
Revenue set an all-time record of $6.2 million, an increase of 153% over the $2.4 million reported in Q1 2019.
Gross profit margin improved to 18.4%, approximately 340 basis-points higher than the 15.0% reported in Q1 2019 and 320 basis-points higher than the average of the trailing four fiscal quarters.
Operating expenses of $2.7 million were $2.3 million higher than the $0.4 million reported in Q1 2019, as a result of a $1.7 million increase in stock-based compensation and higher expenses across all other categories to support the record revenue including costs related to enhancements of our Major League Baseball (“MLB”) branded products.
Operating loss of $1.6 million was $1.5 million higher than the $0.1 million loss reported in Q1 2019, as a result of non-cash expenses that more than offset the gross profit increase. On a proforma basis, Q1 2020 generated proforma operating income of approximately $139,000, after excluding non-cash expenses (stock-based compensation, intangible assets amortization, and depreciation).
Net loss was $2.5 million for Q1 2020 compared to a net loss of $0.3 million for Q1 2019. On a proforma basis, Q1 2020 generated net income of approximately $88,000, excluding non-cash expenses (stock-based compensation, intangible assets amortization, convertible notes payable related items, and depreciation).
“Our best line items in the quarter were our record revenue, a return to a higher triple digit revenue growth rate, and our improving margins,” explained Verus CEO Anshu Bhatnagar. “We are currently in the process of addressing our non-cash charges and are working on a plan to mitigate some of the expense line items that are masking our improved performance. Overall, this quarter reflected the period just before the lockdown during February 2020. We were very lucky to participate in some trade shows, vendor and customer meetings, and complete extensive travel prior to the global travel ban, which helped position us well for the current environment.”
On a forward basis, the Company is providing the following update and guidance:
During April 2020, Verus received $105,000 in funding under the government’s COVID-19 Payroll Protection Program (PPP), which carries a 1% interest rate, a two-year repayment term, and forgiveness of the entire balance in the event certain criteria are met
The Company applied for a COVID-19 Economic Injury Disaster Loan (EIDL) in the amount of up to $2 million and is awaiting the results of that application
In the newly launched Verus Cares division, the Company received its first order for medical protective gear (disposable gowns) and is in the process of coordinating the product sampling phase with potential customers in the U.S. and other countries
The Big League Foods division has successfully completed the redesign of its candy line (packaging and shapes) and all major orders placed prior to the retail lockdown are still intact
Verus is exploring additional vertical integration opportunities, both for its Texas facility and other potential locations
“The global pandemic has created many challenges, but it has also brought great opportunities,” said CEO Bhatnagar. “We are very lucky, because we have a solid base of revenue from our traditional product lines, a fully redesigned candy line that is ready to take off once retail returns, and a new protective gear business where demand is tremendous – and our remaining challenges are mostly logistical. We are growing revenue at a triple digit rate before flipping a number of very significant switches, which is a testament to the outstanding team we have assembled over the last year. Closed stadiums and store fronts are just temporary obstacles, but in the meantime, we have a diversified set of three uncorrelated sources of revenue for the first time in our history. We have pent up demand in all of our business units, which makes us very optimistic about the remainder of 2020.”
About Verus International
Verus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and the Middle East; and medical protective supplies on a global basis. The Company trades on the OTC market (OTCQB: 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, and via the official Twitter feed @Verus_Foods and the Big League Foods subsidiary Twitter feed @BigLeagueFoods.
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
https://www.globenewswire.com/news-release/2020/04/29/2024591/0/en/VERUS-INTERNATIONAL-ACHIEVES-RECORD-QUARTERLY-REVENUE-AND-PROVIDES-UPDATE-TO-BUSINESS-PROGRESS.html
Beautiful...lol
Ur a bit late to gloat...They just posted a huge Q $6.17M...Who cares about price action before the release, that’s all speculation. We’re taking reality, no fluff, no pump, hardcore revenues!! I’m sure you’ll be on the bus tomorrow. Happy Chasing!!
$VRUS
Gross Profit $1,133,557
Q1 Revenue = $6,173,662 (2020)
vs
Q1 Revenue = $2,443,820 (2019)
And this one too!
Couldn’t agree more!!!
Management will cover a number of topics, including the following:
Analysis of the Q1 Fiscal 2020 results; Triple Digit Growth- the kind of growth we all have come to know and love from Verus. This could be the Quarter where Verus turns a profit. It is no doubt the first of many hyper growth Qs to come.
Details covering the expansion plan for the new Verus Cares division; This new division changes everything as Anshu put it. High demand PPE, Made in a company owned facility in the Philippines, controls margins and profits
Growth initiatives across all product lines for the remainder of 2020;
BLF - MLB products rolled out in all 30 markets with expanding growth and new contracts with National Retailers, MLB Stadiums, Convenience Stores, local merchandise distributors, etc
Legacy food business in the Middle East where Anshu has contracts that can be executed as soon as funding is allotted. Rice, Honey, Chicken, etc. Anshu built a similar private food company to generate $100Million dollars a year in revenues in this very region.
Verus Cares division just signed an $820,000 contract and received a 30% deposit. This division already had a high demand. Alternative N95 reusable masks, isolation stretcher, and contamination suits. This could be an immediately profitable division bringing the entire company into the black
What ticker are you in besides Verus? I see all of your posts are to this board only. Your a secret Verus Long! Lol
Truth!! Well said Jorge! I am giving you a follow
What were the shipping costs for overseas ppe, vs what those costs have risen to?
The true float is around 600 million shares. Most of the shares here are locked up by insiders. No dilution has been happening other than private placement shares to the largest private investor Andrew Garnock, who has not sold 1 share since investing. Verus does not sell shares into the open market. That’s the beauty of this gem!
That’s who this is? lol.
Huh, if that’s true, I would think people with a big reputation for something would know more about what they’re known for...smh