Verus International Inc (VRUS)

[GermanCol]

People, please beware of false information. Following is the evidence that what is being said in the post I'm replying to is absolutely false, because the $5 million payment is contingent based on sales and if VRUS has to pay the 5 million is because it has made much more revenue and profit from this license:

As described in Note 6, during April 2019 the Company acquired the License to sell MLB-branded frozen dessert products and confections as part of its acquisition of BLF. The consideration payable to the seller of BLF includes $5,050,000 of contingent consideration, of which $50,000 is due upon the initial sale of an MLB-branded product and of which $5,000,000 is to be paid over time, through December 31, 2022, based on future sales of MLB-branded products (the “Earnout”). The Earnout is payable on a quarterly basis at $1.00 per case sold for sales that have a minimum gross margin of 20% per case. The Earnout payable each quarter is limited in aggregate to the operating income of BLF; however, any amounts constrained due to this limit may be rolled forward to future periods and paid when there is sufficient excess operating income. The Company accrues for this contingent consideration when payment becomes both probable and estimable.

Also, the $357 thousand is the carrying amount of the intangible asset related to the license on April 30 2020 and October 31 2019, that continues being $357 thousand as shown in the table below taken from the last 10Q filing. So no change, nothing was paid on two quarters for that. What could be the credibility of a poster that thinks that the carrying amount at the end of the quarter was what was charged for the quarter?




https://www.otcmarkets.com/filing/html?id=14231513&guid=3jIFUW3a1BJnCth

I'm proving what I'm saying, something that you don't do. If you think that is not the case prove it.