Veritone Inc (VERI)

[GBR]

yeah, interesting that they felt that additional clarity was needed.

We don't know if it's all worth 11 million, but it was apparently worth it from Veritone's viewpoint. Bottom line as it stands right now, based on the public information we have to date, Veritone is in no financial position to be handing out $11 million if they don't have to, particularly if it is not in shareholders best interest.

When I first read the 8K where it said operational covenents terminated, that was the first thing that came to mind was the requirement that Veritone had to keep Pando as a separate entity.

Since Amazon stopped hiring and put the squeeze on Veritone revenues, seems logical that cost cutting is in order, and would seem that they could operate more efficiently if Pando was absorbed into Veritone. They could eliminate duplicate positions, management, etc. Maybe things are so bad that Veritone felt they needed to absorb Pando now, instead of waiting 3 months, and it was worth 11 million to them.

This was a quote from Chad during the earnings call:

We are implementing a number of cost-saving initiatives and other tactical changes to better align our business with the opportunities ahead.

In fact, this could be part of a larger restructuring.