Verb Technology Company Inc (VERB)

[Digger13]

There is nothing wrong...Let me explain....

The form D item 16 says $0. That means there is $0 of the gross proceeds of the offering that has been or is proposed to be used for payments to any of the persons required to be named as executive officers, directors or promoters in response to Item 3 above. THAT'S GOOD!!

Also, notice it said "to any of the persons required to be named as executive officers, directors or promoters". It is common practice for these people to be named in the Form D. IT DOES NOT MEAN THEY ARE GETTING THE PROCEEDS. Look at item 14....There are 19 investors that took part in the offering.

Now...as for the hold period for the warrants....this is directly from the 10q filing...."The Warrants have an initial exercise price of $1.88 per share, subject to customary adjustments, are exercisable six months after the date of issuance, and will expire five years from the date of issuance." It is in various spots, but see page 40. As I've said, I'm not completely sure about the Preferred Stock conversions and when they become eligible. I originally thought immediately, but there also needs to be an s1 effective filed to complete the process. Regardless, I'm confident many of those 19 investors are LONG SUPPORTERS of the company.

If you want even more details to the purchase agreement, click below...
https://www.sec.gov/Archives/edgar/data/1566610/000149315219012574/ex10-56.htm