Replies to post #170741 on Verus International Inc (VRUS)

[price_and_volume]

Has White Lion sold any shares yet?

Somebody could ask them

[Cdub3]

Garnock is done, at least he told me that
So we should be onto the buyer of his shares, and he should be either done or almost

[polvo31]

Incorrect...

Last update was 8/10 on otcmarkets. $VRUS has 3,174,882,898 shares and climbing. https://otcmarkets.com/stock/VRUS/security

From the $VRUS S-1 as well: "In connection with the sale of our Common Stock or interests therein, the selling stockholder may enter into hedging transactions with broker-dealers or other financial institutions"

"which may in turn engage in short sales of our Common Stock in the course of hedging the positions they assume. The selling stockholder may also sell shares of our Common Stock short and deliver these securities to close out their short positions"


"or loan or pledge our Common Stock to broker-dealers that in turn may sell these securities. The selling stockholder may also enter into option or other transactions with broker-dealers or other financial institutions" https://sec.gov/Archives/edgar/data/1430523/000149315220014053/forms-1.htm

The new (ish) 8k has the noteholder paying the purchase price of the inventory as they sell it(section 4) basically they keep the first $67,421.50, then they pay an agreed upon amount(not disclosed) per case to VRUS. VRUS uses that money to pay back the note. The kicker, the money transfer doesn't need to even happen(section 5) at noteholders discretion they can keep all proceeds and charge them against what is owed. We don't know what portion they owe back to VRUS per case is(again not disclosed) could be $1 could be $10, could be $15. Either way the noteholder keeps the difference. Essentially the noteholder is getting the inventory for free and paying for it when sold but that money goes directly back to the noteholder. They are getting paid $67,000 in the first place, they get to keep the gross margin and they are paid back with the money they are using to buy it. Money laundering 101. $VRUS just writes that inventory up as a loss and hopefully the noteholder sells enough to pay off the note themselves.

BLF is toast in my opinion. I imagine the noteholder has connections to liquidate the stock to discount retailers as fast as possible keeping a small profit and being repaid with what they owe back to $VRUS.

Also this line tells us that if they liquidate it on the cheap they don't even have to pay the full purchase price, which is money that would go back to them anyway.
d.The Purchase Price Payments shall continue until the first to occur of: (i) the Purchase Price Remainder is paid in full or (ii) until all of the Purchased Inventory is sold or disposed of by Accredited Investor.

It's all in the new "Letter Agreement" essentially a way for the noteholder to get even more cash and $VRUS to not have to pay off the note, but they still may owe more on the note even after all the inventory is sold. https://sec.gov/Archives/edgar/data/1430523/000149315220013967/ex10-1.htm

[Engines]

German- Garnock already sold all his shares. The recent sells are retail or White Lion.

[DeltaWarrior]

Happy to be back! New S-1 is a million times better than the Garnock deal. I never liked the Garnock deal, because if he decided to be a dick, the pps would collapse as it did. Things should be solid here again, just have to deal with a higher SS.

$VRUS