Verb Technology Company Inc (VERB)

[jobynimble]

How do you explain being told there’s a $7 million cash balance when the Pro Forma shows $2,531,000?

And why was it necessary to do additional financing of unsecured debt of $658,000?
See the bold in the second paragraph...

Pg 25 Overview

As of March 31, 2019, we had cash of $59,000. We estimate our operating expenses for the next three months may continue to exceed any revenues we generate, and we may need to raise capital through either debt or equity offerings to continue operations. We are in the early stages of our business. We are required to fund growth from financing activities, and we intend to rely on a combination of equity and debt financings. Due to market conditions and the early stage of our operations, there is considerable risk that we will not be able to raise such financings at all, or on terms that are not dilutive to our existing stockholders. We can offer no assurance that we will be able to raise such funds. If we are unable to raise the funds we require for all of our planned operations, we may be forced to reallocate funds from other planned uses and may suffer a significant negative effect on our business plan and operations, including our ability to develop new products and continue our current operations. As a result, our business may suffer, and we may be forced to reduce or discontinue operations.

Subsequent to March 31, 2019, we closed our previously announced Public Offering providing the Company with gross proceeds of approximately $20,500,000 before deducting underwriting discounts and commissions and other estimated offering expenses payable by the Company. The proceeds were used to pay the Acquisition Cash Payment of $15,000,000 in connection with the acquisition of Sound Concepts, pay principal and interest amounts outstanding under convertible debt in the amount of $2,025,000, pay commissions and other offering expenses related to the Public Offering in the amount of $2,100,000, and other operating expenses. In addition, the Company closed unsecured debt financing totaling $658,000, or $650,000 after deducting expenses.

https://www.sec.gov/Archives/edgar/data/1566610/000149315219007386/form10-q.htm