Replies to post #21732 on Verus International Inc (VRUS)

[Bud-Wiser]

MUST READ.. They intend to get Favorable Financing ..They have options

“As part of that plan, Verus expects to receive new funding from former RealBiz Chairman Don Monaco as soon as the shares from the Monaker Group/RealBiz settlement are issued. Investors should be aware that this funding from Mr. Monaco was negotiated separately by Verus Foods and was not part of the Monaker Group/RealBiz settlement, but is dependent upon fulfillment of that settlement prior to receipt of funds. Details of the Monaco funding will be released after receipt, but can be considered more favorable than existing debt.
“While we are in discussions with multiple sources of working capital, the funding from Don is essential to move forward, because it can be used to prevent near-term conversions and fund some shipment growth before it is fully deployed to retire debt,” commented Verus CEO Anshu Bhatnagar. “Preventing shareholder dilution is important, but so is revenue growth, which can lead to more favorable and traditional forms of working capital. Our goal in 2018 is to replace all of our current debt with new and better forms of capital, so this gives us the ability to start that process in a meaningful way. Our capital program will involve a stair-step approach as we avoid dilution by pushing out existing debt conversion dates, while gradually eliminating less favorable forms of debt.”