Unruffled.
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Alias Born | 06/15/2018 |
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The MACD wave cycle has been pretty good indicator here even when it hasn’t gone down to patently oversold RSI territory. (Overbought RSI at $700 much clearer to see.)
You actually called the lows much better than me a while back. I assumed stock was so obviously a great super long play, it would avoid the market volatility. But then momentum investors did huge dump before Xmas 2018 and it’s been big slowish swings ever since.
Just musing aloud. No offense intended.
No idea at the moment. Oil demand uncertainty, poss. 2nd wave of covid, etc. Lot of fast-moving factors. But don’t think it will go as low as 300 again. People seem to grasp no-debt royalty plays are good choice in recession.
Has turned into a great swing play these past few years. Impressed it made it to $700, however briefly, but then again whole market seems to be one big Fed-enabled bubble right now.
Waiting to add back in to my core on next bottom.
Love the gummies. Jim Wheeler is solid pro getting it done.
“...but should Chanbond prevail in its cases against the service provider defendants...”
First official filing acknowledgement that Carter and co. could win, I think.
Looking forward to trial.
No one's paying me, Debo. I'm just an amateur investor who genuinely liked the company's prospects two years ago. Last year that faith was borne out with amazing progress -- line of credit, Euler Hermes, General Counsel, terrific redesign for gummies, etc.
This year, the complete opposite. Company does look to be getting MLB product on national shelves, which is no mean feat for an OTC play. But the slide back to notes and company silence is big disappointment.
TJ Maxx still in play for BLF too: “TJX has been one of the best communicating retailer, roughly giving us updates weekly. They are still planning on putting us in, just needing to make room.”
Yup. Lot of misinterpretation of the filings.
New Monaker 10-K says they were down to 61M Verus shares at the end of Feb. selling at a rate of around 9M a month.
"As of February 29, 2020, the Company owned 61,247,139 shares of Verus common stock, which were valued at $979,954 or $0.016 per share, based on the closing price of Verus’ common stock on OTC Markets on the last trading day prior to February 29, 2020."
I agree. Feeling a little toppy esp. with forward P/E at nearly 30.
Thx dvice.
Unless you're working in conjunction with someone covering.
So with no evidence, they could just as well be buying at these prices too.
Buying and selling was about even today even with the 3.7M AH trade.
Shelb, insider selling not possible as they are automatically in a black out period till earnings drop next month.
Volume traded goes up as share price goes down -- and we have come down dramatically even over the past month. So sure feels like a concerted short play in conjunction with the lender converting the notes and a systematic posting campaign to spook retail sheep.
Management's stumbles in 2020 alas has only made it easier.
Still, few things the OTC likes more than an oversold RSI.
I get why people are screaming at the stock to get PPS down. Very close to an RSI bounce.
Shin, in 2020 Verus deliver its highest Q earnings yet - $6.2M.
Six times the quarterly revenue when Anshu took over in 2017.
It got a nationally branded product, designed, market tested, and refined the design to make it unique; They redesigned packaging for all MLB 30 teams, and then secured national chain distribution deals -- all within less than a year of announcement. This progress was only derailed by an unprecedented pandemic shutdown that has caused many more venerable companies to fold within months.
The product is demonstrably liked so will find its way onto shelves in some fashion.
The branding concept is good enough to widen to other leagues.
They closed the MLB deal. No reason why they won't secure other leagues.
The PPE play needs to come into focus. But the company has been nimble, overcoming Philippines lockdown to use Vietnam for manufacturing. Masks will be sold online and samples coming to US. This can prove an inspired pivot in the post-pandemic world.
I can't defend the financing or dilution in 2020, especially after all the progress in 2019. The stock comp could have been paced out better. So the switch to a warrant for CEO was right thing to do.
Lot of haters on this stock, and OTC trading is not for the faint of heart, but I remain a super long who's looking at this as a 3-5 year play. And look to double my position once they get back to better funding.
I agree. Big picture is many companies have already failed to survive the first months of pandemic. Verus got great product in gummies that will find its way to market one way or another. PPE only just getting started.
...In a very crowded field.
One benefit of social distancing is those winding check-out lines at TJ Maxx and co., where all the impulse purchases like gummies go, will have to get longer.
Nice! "BLF expects to finalize agreements to feature other professional sports as additional leagues firm up their start dates."
Even nicer. "We now have the inventory and supply channels in place to respond quickly to what we believe will be significant near-term demand and continued growth through the remainder of 2020."
Shelb, I believe this issue was addressed in Q1: "On February 14, 2020, as a result of the Company’s failure to timely file its Form 10-K, the Company was in default with respect to certain of its convertible notes. The Company obtained waiver agreements, within the stated cure periods, whereby the events of default and the rights to the event of default remedies were waived until the earlier of (i) April 30, 2020 or (ii) the date upon which the Company is no longer in default. The Company filed its Form 10-K on April 13, 2020 and is no longer in default."
Thanks, Estate. Facts beat fud.
If anything, the 8K today shows Verus has a belt and braces approach to legal paperwork.
Still waiting for that SEC suspension George A. Shart predicted.
Agreed. Although shipping goes down with more than one box.
Either way these 12-packs are mostly designed for Little League-type customers.
Be great when the individual packs can go on display in the check-out lines and eventually the stadium/merch stores.
Southpaw, Walmart price is free shipping, so is actually cheaper than ordering from BLF direct.
Walmart’s online sales make up 5% of total US online sales. Forbes estimates sales have doubled in three years to around $38 billion and now make up an estimated 11% of Walmart’s total revenue.
https://www.forbes.com/sites/greatspeculations/2020/03/02/how-much-in-online-revenue-can-walmart-generate-in-2020/#25a9de592e26
Estimated monthly traffic: 294.5 million visits.
Only ebay and Amazon are bigger.
https://disfold.com/top-e-commerce-sites-us/
57% of Amazon shoppers also shop on Walmart.com
Thanks GC. A little big picture perspective always appreciated amid the primal cage fight down here.
CEO"s revised deal is solid gesture, partly because of company's self-inflicted stumbles this year, but also because of the pandemic challenges Verus is negotiating.
BLF candy would have been on shelves already if not for pandemic, and that stalled revenue may well have torpedoed a lesser company. Luckily, we're not in the fresh lettuce business and candy has long shelf.
But until MLB and stores resume, Verus pouncing on this PPE play is an inspired move to keep up revenue growth.
PS For the record:
Mark Forney is still IR for Verus.
Euler Hermes is still the insurer for foreign business.
8K did indeed get filed today confirming the TAM deal is done.
And still no sign of a SEC suspension six weeks after the first PR.
PPE samples were set to go out this week too, so with 8K filed, hopefully not too long before we get some news about next orders.
PS New legal rep in the filing. He's a solid M&A lawyer based in DC.
Seyfarth Shaw LLP
975 F Street NW
Washington, DC 20004
Attention: John D. Shire, Esq.
OS up to 221,637,126. Dr. Lee needs to work a little faster.
Exactly. Too big to sell.
It doesn’t. Garnock would only have 3% of shares if he sold all his 2019 shares ratified by the S1. Big if.
His track record with PharmaCan/Cronos shows he is much more likely to add shares via his warrant once Verus hits certain milestones like better funding and getting its own manufacturing up and running.
In any case, he is such a big and conspicuously investor, he can’t really sell a share without tanking his own stock. As with Cronos, the more feasible strategy is to build the company until someone much bigger comes in for 49% or more.
And exercising those warrants in full would bring over $5M into the company.
Company issued new shares to cover the converted note, so OS increases by 110 million.
Less than 5% increase, but still not great.
I understand why it happened -- late 10-K filing with almost half-paid note gifted the lender a chance to do very nicely and BLF delay on revenues -- but with Anshu's new salary, etc., the ball is in his court to deliver the next level of revenue growth. Gotta wrap up the Filipino 8K and announce next round of TAM orders.
Converting Anshu's stock comp to a warrant is an improvement.
One interesting detail. Turns out Garnock gifted the 20M warrant to a guy who lives near him (and runs a restaurant food delivery service) and already owns 4,313,835 Verus shares.
Worth noting that the note — which the lender chose to covert after late filing caused by audit stumble —was nearly half paid off after six months.
This new much smaller note probably to extend other bigger note or two till TAM revs arrive.
If Verus pulls off this pandemic play, it will be great shape for next few years. Especially when I see how many other companies already filing for bankruptcy.
BLF can't deliver any gummies till stores re-open, so all that order revenue is delayed. Frustrating but can't blame the pandemic on anyone
Middle East business is solid, may even improve a bit in the pandemic as it's mostly wholesale staples.
But it does mean the TAM orders have to come through to outpace the financing -- and given the first order was $820K and deposits upfront are standard for PPE orders now, it could prove an inspired move.
The same people saying this would tank when it was above .03 last July were the same people saying this was a POS in Dec 2018, but I held, and even averaged down in Jan. because I liked the company, and it led to the best run of my investing career -- .0021 up to .035 in five months.
I can still see that happening again here.
Sooner those TAM orders arrive, the better.