Verus International Inc (VRUS)

[Bigelow]

VRUS: Technically BK..KEY LOANS DEFAULTED..CASH BROKE....

The SEC 10-Q is a DISASTER OF EPIC PROPORTIONS...no wonder they couldn't file the POS on time....they're so BROKE they probably couldn't scrape the coin together to get a CPA hired....OR...they're too busy begging their TOXIC NOTE HOLDERS FROM FILING IN BK COURT AGAINST UM....

THEY DEFAULTED ON ALL THEIR TOXIC DEBT NOTES...and CAN NOT PAY THEM as they MAXED OUT THEIR A/S to 1.5 ba ba BILLION VIA INCREDIBLE DILUTION...and likely due to the lawsuit or some other on-going provision COULD NOT INCREASE THEIR A/S and thus they just got SMACKED DOWN into some huge and MEGA COSTLY LOAN DEFAULTS...DEFAULTS THAT CAN LAND THIS IN BK..AT ANY MOMENT on ANY DAY or ANY TIME NOW....those creditors triggered ALL DEFAULT PROVISION and IF RBIZ THE SHAM-WOW DOESN'T PAY ON DEMAND- they MAY GET HAULED INTO A BK COURT ASAP....

https://www.sec.gov/Archives/edgar/data/1430523/000149315218013679/form10-q.htm

That is THEE DISASTER OF A 10-Q...A TOXIC DEBT DILUTION MACHINE...textbook 101 style... in ONE SHORT Qtr (3 MONTHS) they dished out over 1 BILLION STEEPLY DISCOUNTED RAW DILUTION SHARES...and failed to modify their corporate charter to increase their A/S TRIGGERING A CASCADE OF KEY LOAN DEFAULTS.....

And NO...they HAVE NO SOLUTION or "WORK OUT" with those DEFAULTED LOANS or it would have appeared as a "SUBSEQUENT EVENT" added to thee END OF THIS 10-Q, BUT IT IS NOT....THUS THEY ARE IN LOAN DEFAULT NOW..aka THEE TEETERING EDGE OF BK and INSOLVENCY....DIRE AS IT GETS:

10-Q, PAGE 11 (ALL CONVERTIBLE DEBT DEFAULTED, HUGE COST if NOT BK):

"At July 31, 2018 and October 31, 2017, there was $1,349,618 and $975,250 of convertible notes payable outstanding, respectively, net of discounts of $7,500 and $15,000, respectively. Additionally, at July 31, 2018, the Company was in default with respect to certain convertible notes as a result of not having sufficient shares of common stock available for issuance upon the conversion of such notes and certain cross-default provisions. The default provisions include 1) default interest rates ranging from 18% to 24% per annum, 2) daily fixed dollar penalties, and 3) an increase in the total amount due calculated by multiplying the aggregate of the then outstanding principal amount of the note, together with accrued and unpaid interest thereon, plus default interest and fixed dollar penalties by 200%. As of July 31, 2018, the principal amount of the notes together with interest accrued thereon and penalties totaled $855,398, consisting of $793,327 of default principal and $62,071 of default interest. "

PAGE 3, THE BALANCE SHEET- they are CASH BROKE BY ALL GENERALLY ACCEPTED ACCOUNTING PRINCIPLES w/ a lousy $136K CASH against massive ACCOUNTS PAYABLE and INTEREST PAYABLE of $608K and $127K...DUE NOW or max 30 to 45 DAYS

CASH: $136K TOTAL LEFT TO THEIR BROKE NAME

Accounts payable : $608K
(a company's most IMMEDIATE BILLS- usually net 30 to 45 days max or DEFAULT)

Interest DUE: $127K
(NOW..they're already LATE ON KEY INTEREST PAYMENTS - and it would TAKE ALL THEIR CASH TO PAY IT NOW)

THEY ARE BUSTED BROKE....INSOLVENT FOR ALL INTENTS AND PURPOSES by all GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP)..teetering w/ ONE FOOT IN THE BK GRAVEYARD.....

PAGE 10 THE GOING CONCERN (ILL-LIQUID) TRAIN WRECK:

"NOTE 3: GOING CONCERN

The accompanying unaudited consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

The Company incurred a net loss of $1,576,655 for the nine months ended July 31, 2018. At July 31, 2018, the Company had a working capital deficit of $1,208,361, net cash used in operations of $978,000, and an accumulated deficit of $25,018,786. It is management’s opinion that these facts raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this filing, without additional debt or equity financing. The unaudited consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts nor to the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

In order to meet its working capital needs through the next twelve months and to fund the growth of the food business, the Company may consider plans to raise additional funds through the issuance of additional shares of common or preferred stock and/or through the issuance of debt instruments. Although the Company intends to obtain additional financing to meet its cash needs, the Company may be unable to secure any additional financing on terms that are favorable or acceptable to it, if at all."

GRAVE AS IT GETS...KEY LOANS IN DEFAULT...BUSTED BROKE AND BLEEDING CASH LIKE A STUCK PIG.....THEY'RE IN THE ER and ON LIFE SUPPORT....

PAGE 12 THEY ARE RUNNING SHAREHOLDER DEFICITS..aka NEGATIVE VALUE:

"NOTE 6: STOCKHOLDERS’ DEFICIT

The total number of shares of all classes of stock that the Company shall have the authority to issue is 1,625,000,000 shares consisting of 1,500,000,000 shares of common stock with a $0.001 par value per shares; of which 1,500,000,000 are outstanding at July 31, 2018 and 125,000,000 shares of preferred stock, par value $0.001 per share of which (A) 120,000,000 shares have been designated as Series A Convertible Preferred of which 44,570,101 are outstanding at July 31, 2018, (B) 1,000,000 shares have been designated as Series B Convertible Preferred Stock, of which no shares are outstanding at July 31, 2018 and (C) 1,000,000 have been designated as Series C Convertible Preferred Stock, of which 160,000 shares are outstanding at July 31, 2018. At July 31, 2018, the Company does not have any shares of common stock available for issuance, which triggered a default on certain convertible notes payable (see Note 5)."

PAGE 16 THEIR HORRIFIC LIQUIDITY PROBLEMS
(liquidity problems are the PRECURSOR TO FILING BK...the INABILITY TO TIMELY PAY ONE'S BILLS WHEN THEY COME DUE...and RBIZ IS BUSTED BROKE)

"Liquidity and Capital Resources

At July 31, 2018, the Company had $136,475 of cash and a working capital deficit of $1,208,361 as compared to cash of $251,301 and a working capital deficit of $798,577 at October 31, 2017."

RBIZ is in GRAVE..GRAVELY BAD FINANCIAL CONDITION...the next 8-K THEY FILE MAY BE THEIR BANKRUPTCY ANNOUNCEMENT IMO....


Else...THEY MUST INSTANTLY INCREASE their AVAILABLE SHARES and RAPIDLY DILUTE....else...BOOM BOOM OUT GO THE LIGHTS....they got less than a MONTH IMO....or their CREDITORS WILL FILE BK ON UM....TOXIC NOTE DUDES DO NOT MESS AROUND....they'll end up owning this POS and SELLING IT TO THE TRIPS to GET THEIR MONEY BACK...no mercy....when you DEFAULT ON TOXIC CONVERTIBLE NOTES...them hedge boys WILL BE A WRECKING BALL AND TAKE EVERYTHING AS NEEDED to make their coin back...they play big boy hard ball....

I can't count how many companies have been DRIVEN TO TRIPS .0000X or worse $ZERO Bid via DEFAULTING ON TOXIC DEBT....RBIZ is ON LIFE SUPPORT...

BUYER BEWARE...BK/INSOLVENCY WARNING RED ALERT..LOANS ARE IN DEFAULT !!!