Verus International Inc (VRUS)

[ApollyonZ]

Vrus! Third option Chap 11!

Chapter 11 provides a process for rehabilitating the company's faltering business.

..The bankruptcy court may determine that stockholders don't get anything because the debtor is insolvent. (A debtor's solvency is determined by the difference between the value of its assets and its liabilities.)

https://www.sec.gov/reportspubs/investor-publications/investorpubsbankrupthtm.html

Chapter 11 bankruptcy is designed to allow struggling businesses to restructure their finances and maximize the return to their creditors and owners.

..There is no absolute limit on the duration of a Chapter 11 case.
..Once the “exclusivity period” expires, the creditors’ committee or other parties can propose competing reorganization plans.
..Chapter 11 plan is, in effect, a contract between the debtor and its creditors as to how it will operate and pay its obligations in the future. Most plans provide for at least some downsizing of the debtor’s operations to reduce expenses and free up assets. In some cases, “liquidating plans” are proposed to provide for a total shutdown of the debtor’s operations and the orderly sale of its remaining property.

https://www.nolo.com/legal-encyclopedia/chapter-11-bankruptcy-overview.html

Accumulated deficit $25million, Liabilities $2.7m, series A120m, series B 1m, series C 1m.
https://www.otcmarkets.com/filing/html?id=12975437&guid=aTctUqbKf11wfth

Besides office for rent, are there tangible assets line by line in the fins, warehouses, leases?

100M contracts-revs that Banks have no faith in even if audited especially a failed business IMO..as such shares given away!