Verus International Inc (VRUS)

[Nestegg McMuffin]

Pole, you're not reading it correctly. You're adding numbers, when you should be subtracting.

Monaker started with 44.4M preferred Verus shares and then sold 25.5M to its board members $425,000 in October, leaving them with 18.9M preferred shares, not 62M as you thought.

"As of November 30, 2019, and February 28, 2019, Monaker owned 18,907,601 and 44,470,101 shares of Verus Series A Preferred Stock, respectively." 

Key word "respectively", therefore:

44,470,101
- 25,562,500
= 18,907,601

Sale of Verus Series A Preferred Stock to Directors
 
On October 29, 2019, the Company entered into Stock Purchase Agreements with (a) Monaco Investment Partners, LP, of which Donald Monaco is the managing partner and a member of the Board of Directors of the Company; (b) Simon Orange, a member of the Board of Directors of the Company; and (c) William Kerby, the Chief Executive Officer and director of the Company. Pursuant to the Stock Purchase Agreements, the Company agreed to sell the purchasers 25,562,500 shares (1,562,500 shares to Mr. Kerby and 12,500,000 shares to each of Monaco Investment Partners, LP and Mr. Orange) of restricted Series A Convertible Preferred Stock of Verus International, Inc. (“Verus”). The purchase price for the Verus shares was determined by the Board of Directors of the Company, based on among other things, the recent trading prices of Verus’ common stock on the OTCQB Market, as publicly reported. The Company received net proceeds of $425,000 from the Stock Purchase Agreements.