Verus International Inc (VRUS)

[Renegades17]

One problem with your logic

They can't retroactively adjust the balance sheet and P&L for an event (the 14c) occurring this year. The 10-K was as of Oct 31, 2018. The balance sheet is for a point in time.

In my view, the delay pertains to disclosures relating to liquidity and going concern. If they can get a financing deal done, the liquidity and going concern sections look markedly different (and more favorable obviously). This also helps with incremental debt capital raises, should they be required, over the course of FY 2019.