Replies to post #57960 on Verus International Inc (VRUS)

[BeeDoubleU]

Lol.. the other way around... Looks like debts will be paid off during extension... very interesting days ahead.. imo

[ApollyonZ]

Vrus! A “for rent” office may impress a few, it is unconvincing as Gaithersburg Maryland (sub-par) portion of Montgomery county compared to Bethesda-Chevy where solid corporate offices reside.

If I happen to stop by “Roy-Rogers” in the El-Chepo business district offices perhaps I may just ask front desk clerk rental costs to gauge operational efficacy.

After all everything here is finance who is paying this bill?

Only a few more days left but I am more interested in Q1 matured note (Jan 2019) was paid.

[ApollyonZ]

VRUS! Everything I said came true.

..Donald Monaco, has agreed to extend his $530,000 note for an additional nine months,
..its 10-K, which was delayed while the debt settlement was in process.

https://www.otcmarkets.com/stock/VRUS/news/Verus-International-Announces-145-Million-Financing-and-Retirement-of-Notes?id=218192

THe 10K was Delayed for exact reason on my last post, No money. CEO was scrambling to find monies since existing debt was already in default. A 9 month life support assuming Institution holds in, "Good faith". I have seen it before Institutions dumping as share price rise. They sell for profit just as retail.

..(i) Dilutive Effect. The Company understands and acknowledges that the number of Conversion Shares and Warrant Shares will increase in certain circumstances..“ Mandatory Default Amount ” means the sum of (i) the greater of (A) 200% of the outstanding principal amount of this Note, plus 100% of accrued and unpaid interest hereon, o

Within fifteen (15) days after the Closing Date, the Company shall have obtained “key person life insurance”, on the life on Anshu Bhatnagar, in an amount equal to at least $1,250,000, payable to the Company. Such insurance may be obtained only with an insurer reasonably acceptable to Buyer.

CONVERTIBLE NOTE

($1,250,000.00 USD)on November 8, 2019 (the “ Maturity Date ”
(200,000.00 USD) on November 11, 2019 (the “ Maturity Date ”)

https://www.otcmarkets.com/filing/html?id=13210712&guid=hA0tUFxVe6iZpth

VRUS break even point was $5-6M, now has risen to $7-8.9M? Should VRUS default once again, Institution is guaranteed 200% = $2.9M on default amount.

CEO not only raised AS but took a risky gamble and his life insurance policy per 8K speaks clearly. Nice move today many bag holders made their decision 35M dumped 12:40 PM. A company that cannot pay it's debt and oursources to third party is probably not making much profit-IMO.

CEO 2016-2019, back to 200DMA soon?

Cheers