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What do you mean no one is talking about Q4 revenues? That has been repeatedly stated as the main reason for excitement regarding the 10Q. I have also repeatedly seen on hear posts saying 50m-100m revenues for 2020 projected. 5x-10x increase in revenue in 1 year? Yeah that's not pumping right, it's realism. Good grief. The pump just hasn't worked because the company hasn't followed through as well as some have stated and hoped. They are also not as transparent as has been stated. They went past NT deadline without even the token tweet to keep the carrot dangling. Just another OTC company taking advantage of those trying to get rich quick.
Well they were late filing last year without changing audit firms. So I don't expect to see anything until March at the earliest.
All anyone can do is speculate, company is late on financials and we haven't had any more candy tweets since the basketball.
Hey, can you post a link to where you are getting this information you keep posting from?
If finding stocks that have already crashed and then pretending like you predicted it is calling it, then you sir are a genius and you have my follow.
Well, today was fun, hopefully tomorrow will be another one. Have a good night, Y'all!
Yeah because no consumer goods company ever failed or went bankrupt. "VRUS sells consumer goods! We gonna be rich!"
Stock manipulation 101. Can't believe he messed that up.
Hey, I get responses from you and that brightens my day!
Exactly, noone knows, but people are pumping this like it is the greatest stock ever listed and ignoring some of the DD. DD isn't positive or negative, it is factual. And when som of the facts are conveniently ignored, well that should bother some.
No, but there is the potential to see about 150M+ shares enter the market from 3 defaulted notes converting and with average volume of 5M shares traded per day, it is going to take a while to eat through those.
So now we know the reason for the jump in price. Now watch for the bid whackers to bring it back down by close. Same old story, some one slaps the ask thinking they are helping the stock and the tick flippers sell back into the bid that gets raised because everyone starts to think is this it? Am I going to miss the rocket?
And when was the last time 50M shares traded in a day?
It finally got back to the level it was a week ago and been hovering around for the past 5 months except for a small spike in December. No news, not even a tweet from Anshu! Come on, show us a chocolate soccer ball next!
Watching L2 it looks like someone is just trying to manipulate the price up to try and jump start a run or sell. It's only 4M volume. Call me when VRUS is doing 50M volume on average in a day. I mean 4M is only 0.17% of the OS. Big moves happening!! Hell 50M is only 2% LMAO
It makes you question why they chose to change auditors when they did. They could have stuck with the old ones and retained the new ones after the 10K filing. Then the new auditors would have a year to go through the old books. Also remember it is not the auditors job to make the company look good, just to make sure everything is legal and on the up and up. Top 10 Auditor doesn't a top 10 company make.
Another day and no 10K but the longs say it will be OK!
True, I'm not making stuff up, so I guess I don't speak for everyone. LOL
If you haven't seen definitive proof, go back and read the notes again. No one is making stuff up. It is all there black and white in the notes. Jan and Feb notes if not already converted or paid off are in default. As far as them being delinquent, the fact that it says "Delinquent SEC Reporting" on Otcmarkets tells you they are delinquent.
https://www.otcmarkets.com/stock/VRUS/overview
I agree with you , one of the terms of default is because of delinquency allows them to convert for much more shares, it is a combination of factors.
Last 2 notes: Since market is closed, how about some good long/hype guesses on why the notes were taken out. Because guesses at best will all they'll be. Inaccurate as hell of course, but good comical entertainment at least.
$$VRUS$$
-OUT-
Its not the initial interest rate that is toxic.
It is the consequences for default.
From the most recent note issued Feb 10 and filed on Feb 14.
Quote:(2) EVENTS OF DEFAULT.
(a) An “Event of Default”, wherever used herein, means any one of the following events (whatever the reason and whether it shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body):
….
(viii) The Company shall become late or delinquent in its filing requirements as a fully-reporting issuer registered with the Securities & Exchange Commission.
….
(b) Upon the occurrence of any Event of Default (without the need for any party to give any notice or take any other action), the Outstanding Balance shall immediately and automatically increase to 120% of the Outstanding Balance immediately prior to the occurrence of the Event of Default (the “Default Sum”). Upon the occurrence of any Event of Default, the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Outstanding Balance, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity, and the Conversion Price shall be redefined to equal the Market Price, as defined herein.
….
The Market Price shall be defined as 50% of the lowest closing price occurring during the twenty (20) consecutive Trading Days immediately preceding the applicable Conversion Date on which the Holder elects to convert all or part of this Note, subject to adjustment as provided in this Note.
So the note was in default by the time they filed it on SEC.gov. The original balance went up by 20% immediately, the 4% one time interest was due plus any fees and such. So they owe approximately $500k-$600K back in cash immediately or the equivalent of that in shares at a conversion price around .0075 as ~.015 was the low in the last 20 trading days. Half a million dollars at .0075 is another 66M shares added to the float. But hey the floats well over a billion so 66M shares is nothing, bring it on.
The September note did not have as bad of toxic terms in it, the January note had more, the Feb note even more. But it doesn't matter to the company, shareholders will buys these dilutive shares and they don't have to pay anything back. The company wins and keeps growing at the expense of early OTC investors.
What happens when they need more money next month and the month after and the month after that. The 7.5B A/S may not be enough to hold all these converting shares.
Also the Jan note had the clause to take on at their choice better terms from future notes. I think that the "market price conversion" is better than the .015 per share so with penalties if that note hadn't converted yet we are looking at another 90M+ shares diluting the float.
But all this doesn't matter because they are going to make $50-$100M in revenues this year. LOL
I completely agree with you man!
But,but,but the O/S and float haven't changed, since September and June how could any note have converted yet?/s
Stating things as facts that only the company could know.
As far as the notes read only the one issued last week has been forced to convert already, any other guess to the other notes conversion is just that a guess. Unless you have insider information you would like to share.
Its not the initial interest rate that is toxic.
It is the consequences for default.
From the most recent note issued Feb 10 and filed on Feb 14.
Tomorrow morning just before the market opens. Why waste a perfectly good tweet on a day when the markets closed. LOL
Only the company can prove your statement right or wrong. I'm not here to prove anything. I never said anything was converted or paid off or still outstanding. I just said according to what anyone can read in the actual notes and purchase agreements if ithey are not already converted or paid off the Jan and Feb note are in default, the Sep note will be in default after Tuesday if not converted or paid off. Prove me wrong....I'll wait
Oh so you are hoping that since otcmarkets hasn't been updated in 6 months, that it hasn't changed. You said it so factually before, I thought I had missed an announcement like they announced the other notes they paid off early.
Yeah but somehow you know they have been paid off. I just want to know where you heard that?
Where's the pr filing telling that the September and January notes were paid off already? Positive speculation is still speculation.
That clause isn't in the Feb note, just the Sep and Jan notes. The Jan note is in immediate default due to violation of lockout agreement if it wasn't already paid off or converted. The Feb note offers no grace period, it states there in default as soon as they go delinquent in their filings.
You're right the notes obviously are for growth of the company. but when they have so many people who believe in the company so much willing to buy shares of their stock, why pay back the notes. When they can just convert to shares and have other people pay back the notes. Win win for the company, for the shareholders, not so much.
True, from an SEC perspective, but they have at least 3 notes out ( they haven't PR that they have been paid off or converted yet) that all have default clauses in the event of delinquent SEC filings. Two of them raise the interest rate to 24%, the other one immediately tacks 20% on to the principal. The latter two are in default with no remedy. The first one from September still has till the end of the day Tuesday for them to remedy the delinquency. The funny thing is they took out the last note, knowing there was a high chance they would be delinquent in their filings. It's all in the 8ks and the attached notes filed on sec.gov.
Only the company knows, but in my quick scan of the note I didn't see that there was the option to convert at any time. Hopefully the company is transparent and lets shareholders know. If it has converted they really should update OTC markets to reflect accurate OS and float numbers. OS last updated September, float last updated in June.
Yeah I know, because Tuesday evening is deadline for the September not to not be in Default for delinquency. The January note is already paid off or in default as dewmboom so kindly pointed out to me because the company violated the lockout agreement in exhibit 10.1 with the 8k by taking out another note less than $2 M within 60 days. Tuesday won't help that note, it is already defaulted. The other question is why do they continue to take out toxic notes when they are supposed to be doing so well revenue wise. September one wasn't very toxic, the January one got more toxic, the one issued this week is extremely toxic. Not a good trend. Most were hoping for institutional investment rather than this.
The new note issued earlier this week was to pay the auditors to work over the holiday weekend /s, LMAO!!!! Great timing to not release the 8k for it until after they were delinquent in their filings. Oh yeah the new note doesn't have a 5 day recovery grace period. They are already delinquent on it and they issued it anyway knowing they'd be delinquent. Doesn't matter though, there is a reason for that 7.5B A/S. Do you think the OS is near it? Can't be, right!! Because OTC markets is always updated if there is a change and since it hasn't been updated since September, there must be no change. Oy vey
Or the alternative, they needed money so bad they sold a new note regardless of the consequences because yesterday showed them the longs will buy all the dilution from these notes if they let them convert and they don't have to pay them back. Good luck on "Super Tuesday" I don't believe we will be seeing the beloved 10K before March.
Finally got a chance to read the new note that the 8K was filed for today briefly and all I can say is 2 things.
1. Wow, it's terms are even more toxic than the last.
2. It is already in default with a 20% penalty.
Check out the conversion terms as well.
I have a very busy weekend, so I will not be posting again until Tuesday, but maybe we can hear more good news from the company by then. TTFN!
So I just went back and read up what was filed along with the 8k, exhibit 10.1 was the security purchase agreement and 10.2 was the actual note. I had not read the security purchase agreement before which is what you seem to be quoting. You're right it does say they are to refrain from entering into another financing deal for 60 days unless it's over 2 million dollars. Below that it says if they violate that it is considered a default. The note explains what happens under a default situation. The common penalty no matter the reason for default is the interest rate increasing to 24%. Nowhere in the security purchase agreement or the actual note did it say they had to convert shares before the next note was issued. So either your speculation is correct and they already converted the note prior to giving this new one, or they defaulted on the last note regardless of whether the 10K was filed on time or not. Only time will tell. Again GLTY