Replies to post #181877 on Verb Technology Company Inc (VERB)

[Cynomus]

They go upside down millions a month, it won't last long without 10s of millions coming in.

[TenKay]

And yet…this is what they are doing:

On June 30, 2021, the Company received secured advances from an unaffiliated third party totaling $1,960,000 for the purchase of future receipts/revenues of 2,720,000. Pursuant to the terms of the agreement the unaffiliated third-party will auto withdraw an aggregate of $15,200 from the Company’s operating account each banking day. The term of the agreement extends until the advances are paid in full. The notes did not bear any interest, however, the interest was imputed at a rate of 28% based on the face value of the note and the proceeds received. The Company may pay off the note for $2,200,000 if paid within 45 days of funding and for $2,380,000 if paid between 46 and 60 days of funding. These advances are secured by the Company’s tangible and intangible assets. As a result, the Company recorded a liability of $2,720,000 to account for the future receipts sold and a debt discount of $760,000 to account for the difference between the future receipts sold and the cash received. The debt discount is being amortized over the term of the agreement.

They are selling future receipts of cash at a huge discount…

Healthy companies don’t do that.

[TenKay]

“No Financing, Millions In Warrant Money Came In!“

…and now there is more financing…lol.

The only thing Rory appears to be good at is selling company stock… ;-)