100% FAKE VRUS IS A DILUTION SCAM HERE ARE SOME HISTORICAL FACTS.
I FEEL SORRY FOR THOSE WHO ARE FALLING FOR THIS SCAM.
NEW YORK, NY--(Marketwired - Mar 22, 2017) QUOTE..This quarter is primarily a historical record, because our involvement in the business only began on January 2, 2017 and our first shipment did not go out until after the quarter end," said Anshu Bhatnagar, CEO of RealBiz/Verus. "So, the next quarter, Q2 2017, will mark the real beginning of the Company in its new form as Verus Foods."
In terms of the Verus business, the Company is pleased to provide the following update:
The first two qualifying buffalo shipments were approved by customers and production shipments have begun on the previously announced $78 million order.
Following the first two deliveries, the Company has ordered an additional six containers and has begun to scale into its
NEW YORK, NY--(Marketwired - Jun 20, 2017) . ANOTHER FALSE MISLEADING FINANCIAL STATEMENT. QUOTE...Verus is pleased to announce an approximately $29MM contract to supply Indian meat to Vietnam for a 12-month period.
Based on customer feedback in Q2, Verus continues to back its previous forecast of $100M in annual revenue following a full business transition and receipt of adequate financing.
NEW YORK, NY--(Marketwired - Sep 21, 2017) . QUOTE...With the addition of the Vietnam buffalo order, the company now has " SIGNED"? annual contracts totaling $103 million.
NEW YORK, NY--(Marketwired - Sep 22, 2017).. ANOTHER FALSE MISLEADING ANNOUNCEMENT, SO THEY CAN PUMP THIS SCAM. WHILE UNLOADING FROM THEIR OFFSHORE ACCOUNTS.
QUOTE..Verus Foods (Verus), is pleased to announce that it has signed an agreement with The Walt Disney Company (Disney) to become the exclusive distributor of Disney-branded juice products in the United Arab Emirates (UAE) and Oman.
Under the terms of the deal, Verus will become the exclusive distributor of juice products bearing Disney and Pixar characters and other Disney labels in these important Gulf Cooperation Council (GCC) countries. This region has been one of the fastest growing juice markets in the world over the last decade, with per capita consumption of 100% fruit juice in the UAE expected to top North American averages by 2018. Juice is often consumed at more than one meal per day in many households, creating excellent markets for retailers in the region.
Gaithersburg, MD., June 21, 2018...Verus has completed labeling, packaging and is fine tuning the formulations on original, proprietary product offerings for its starting 2,800-store network, with a Phase 2 rollout planned later in 2018 that will significantly expand this initial store base
The shift from wholesale to retail is underway, which will greatly improve margins on future revenue streams
The Company can confirm that it is in talks with Asian, South American, and North American food companies that have an interest in entering the Gulf Cooperation Council (GCC) markets
Verus can confirm that it has its first business proposals from South America, which will only be implemented pending the outcome of current financing discussions
Gaithersburg, MD, Feb. 28, 2019 ..(GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) is pleased to announce that it has signed an agreement to supply honey products in Europe and parts of the Middle East. The initial phase of the agreement is expected to generate approximately $10 million in annual sales.
Gaithersburg, MD, March 25, 2019....Verus has its largest funded backlog in Company history, currently at $24 million for delivery over the next 12 months..
Gaithersburg, MD, May 01, 2019 (GLOBE NEWSWIRE) --
begin production of ice cream for our newly announced Big League Foods subsidiary. This is a turnkey operation, ready for sales with packaging already designed, production agreements in place, and SIGNED distribution networks that will cover close to 2,500 retail locations. Initial shipment dates have not yet been set, but the main goal is to move quickly to have product on store shelves to coincide with both the baseball and summer seasons..
Keep in mind folks, this is how this scam pps was raised from triple zero to .$0.0373.
ON FEBRUARY 18, 2020 MAYER HOFFMAN MCCANN PC (" MHM") NOTIFIED THE BOARD OF DIRECTORS OF VERUS TTHAT IT HAD RESIGNED AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM.
The Company and MHM had certain unresolved discussions on whether, and how, to correct prior period financial statements for the following errors:
a.Unrecorded stock-based compensation
b.Classification of equity instruments (including conversion features, warrants,
and stock compensation warrants) subsequent to the Company having an insufficient number of authorized shares to settle certain equity classified instruments.
Although MHM did not complete its audit prior to the Effective Date, MHM believes the errors are material to the prior period financial statements, including the annual and interim periods affected, and therefore, should be corrected by restating the financial statements previously filed (e.g., via a Form 10-K/A and Form 10-Q/A). Additionally, the Company and MHM had certain unresolved discussions on the sufficiency of documentation necessary to support amounts recorded in the current period financial statements.
Our revenue increased to $10,821,548 for the six months ended April 30, 2020, compared to $5,386,255 for the six months ended April 30, 2019, an increase of $5,435,293 or 101%. The increase is the result of reducing the order backlog with customers due to continued increased sales to customers and increased working capital funding that allows us to procure additional products for sale.
Cost of Revenue
Cost of revenue totaled $8,952,063 for the six months ended April 30, 2020, compared to $4,567,597 for six months ended April 30, 2019, representing an increase of $4,384,466 or 96%. The increase is the result of higher revenue and related product costs.
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