Replies to post #177673 on Verus International Inc (VRUS)

[Z-trade]

That’s how I figured it as well. So, Anders screws Ian, in turn, Ian screws Verus, and violates the contract.

[DewmBoom]

Ian could not deliver. Period. It was out of his control, but business is business. He could not even deliver masks that already paid for by credit card at a premium dollar amount. He could have made 80% net profit on those. Regardless, VRUS got a $820K gowns deal through Anders that originated from TAM connection through Anders.

[woodleighinvestor]

When VRUS announced this back in April, it was a bit dubious hence the PPS didn't spike. It wasn't our core business and EDD checked out the company existed but it was evident there was challenges out of Philippines and other countries supplying PPE.

So I didn't really factor TAM in as much as others, plus was already invested in MedTecs.

So the lesson learned, any PR or announcements, take a step back and have a look at the wider view.

[Z-trade]

So coach, many of your posts are have been directed towards Ian being screwed by Verus.... Sounds to me he got screwed by his business partner.... TBH, I’ll bet he had Ian sign something to allow the funds to be transferred to Vietnam.

My take on the whole deal, Anshu was sloppy with the DD on this deal. I think he had a relationship with Ian and Anders..... and thought they’d be solid, and went steam rolling through against the advice of council(he quit). I think Anshu got word from nutribrands things were gonna be slow, TJmaxx and MENA that deals were delayed indefinitely and f*%ing panicked, went ahead with the deal. McGowan resigned garnock said screw it.

[dvice]

It should be noted that Anders is the one who signed the original Securities Purchase Agreement and Seyfarth Shaw is the firm who was originally involved in the agreement. I am sure they have been well informed over the past 6 months about what has been going on.

Like you said, I'm sure that once he found out about the $100,000 going directly to Vietnam, he got angry. Remember, the original agreement stated that Verus inject another $200K into TAM at their discretion so I guarantee Ian was even more furious when they told him that would no longer be the case and that they would not be pursuing additional business with him.

Unfortunately (or fortunately for Verus), everything Ian writes on Twitter can be used against him as evidence. Not very smart to be doing what he's doing at this point.