Verus International Inc (VRUS)

[Justjoe1979]

The number of shares of Common Stock to be outstanding immediately after this offering is based on 2,430,476,516 shares of Common Stock outstanding as of May 1, 2020 and excludes:

729,557,150 shares of Common Stock issuable upon the exercise of warrants (excluding warrants covered by this prospectus) with a weighted average exercise price of $0.006 per share.


41,444,601 shares of Common Stock issuable upon conversion of 41,444,601 shares of Series A Convertible Preferred Stock and 43,080,100 shares of Common Stock issuable upon conversion of 430,801 shares of Series C Convertible Preferred Stock.

The table below sets forth certain information regarding the selling stockholders and the Resale Shares offered in this prospectus. The selling stockholders have had no material relationship with us within the past three years other than as described in the footnotes to the table below or as a result of their acquisition of our shares or other securities.

Beneficial ownership is determined in accordance with the rules of the SEC. The selling stockholder’s percentage of ownership of our outstanding shares in the table below is based upon 2,430,476,516 shares of Common Stock outstanding as of May 1, 2020.

https://www.sec.gov/Archives/edgar/data/1430523/000149315220007854/formposam.htm

So basically Garnock and other investors are able to sell their shares on the open market and the OS is increased to 2.4B+ with further warrants capable of increasing it to over 3 Billion shares.