InvestorsHub Logo
Followers 293
Posts 40580
Boards Moderated 10
Alias Born 08/30/2001

Re: communicate post# 186367

Friday, 05/20/2022 10:16:52 AM

Friday, May 20, 2022 10:16:52 AM

Post# of 191795
Explanation of Responses:
1. As disclosed in the Issuer's filings with the SEC, the Reporting Person (Rory J. Cutaia, the Issuer's CEO) has historically elected to defer payment of up to half of his annual cash compensation. As of December 31, 2021, the sum of $1,030,944, remains accrued and unpaid to Reporting Person. On May 19, 2022, the Board of Directors approved the Reporting Person's request to convert $100,000 of such accrued amount in order to purchase shares of the Issuer's common stock, thereby reducing the amount of debt on the Issuer's balance sheet. Using the closing price of the Issuer's common stock on May 19, 2022, which was $0.528, 189,394 shares were purchased by Reporting Person.

Convert 10% of what he’s owed? It’s a start, but if Market is gonna be a huge hit why just 10% and not the whole amount, which would’ve spoke volumes…

PROTECT YOUR ASS-ets!!

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent VERB News