VERB's overhead is more than $ 30,000 each and every day. The gross margin on the products being sold on TikTok and any miscellaneous revenue brought in by renting out the studio space and doing livestreams on behalf of third party sellers pales in comparison to the company expenses.
Even Rory has publicly said that the cash on hand is sufficient to maintain operations (aka huge losses) until at least the Spring of 2025.
No one should reasonably expect the cash level to be anywhere near the level it was at the end of the 2nd quarter...unless...the company has been selling shares to keep the bank account stocked.
better pray that the third quarter results don’t show a decrease in cash level from the second quarter…
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