jobynimble
20 hours ago
Whatever happened to the targeted acquisition that Rory disclosed last June 2023?
“As I referenced above, and as disclosed in the Form 8-K we filed today, on June 12, 2023, we executed a non-binding letter of intent to acquire certain assets of an e-commerce company (the “Target”) that we believe are not only highly complementary to our MARKET.live business, but could serve as a major catalyst for growth (the “Acquisition”).
The Target’s unaudited financial statements indicate that for the year-ended December 31, 2022, the Target generated transactions totaling approximately $9.5M in gross merchandise value (“GMV”) and was cash-flow positive. It was represented that the GMV was generated by the Target’s approximately 70,000 current active subscribers, each of whom receive daily auto-generated communications from the Target about the preferred brands and products the subscribers selected at sign-up, available for sale each day. Subject to the successful completion of the Acquisition, it is our intention to incorporate the Target’s technology and operations into MARKET.live, so that the transactions that comprise the Target’s GMV will be facilitated on and through our MARKET.live platform, potentially at higher margins. Potential corollary benefits of the transaction include the exposure of the MARKET.live shoppable entertainment programming to the Target’s 70,000 subscribers, possibly driving additional sales, among other benefits, including paid ads and sponsorships. Consideration for the proposed Acquisition will be a combination of cash and stock, structured as a seller note payable over 24 months; payments are subject to actual cash receipts as represented by the seller.
Closing of the proposed Acquisition is subject to a number of preconditions, including definitive closing documents, further price negotiation based on a mutually selected fairness opinion/valuation expert, further due diligence, and an audit, among other things, and as a result, there can be no assurance that the Acquisition will be completed or if completed, that it will be done on the terms currently contemplated by the parties. We are also actively pursuing other possible acquisitions and partnerships to accelerate growth, which we will disclose at the appropriate time.”
https://www.sec.gov/Archives/edgar/data/1566610/000149315223021782/ex99-2.htm
dukeb
1 week ago
Rory and Meltzer's GoFundYourself show seems to be involved with some shady characters. Who could have possibly predicted that?
The most recent GFY episode is a guy who started a company called Fundify that...wait for it...funds startups.
So the original mission of GFY, which was helping startup companies find investors has, as one of its early guests, a guy who has a fund that he says provides funding to startups.
So exactly is Fundify and who is running it? You wouldn't know from their web site. The only contact information is a web form. No street address. No phone number. The founder's name isn't there as far as I can tell.
Here is their "important disclosures" page: https://www.fundify.com/legal/important-disclosures
One part of those disclosures:
Investment advisory services available through the Digital Properties (the “Services”) are provided by Fundify Advisors. Please refer to Fundify Advisors’ Relationship Summary and Disclosure Brochure for additional information about Fundify Advisors’ advisory services.
The Relationship Summary and the Disclosure Brochure are both links and those links are dead...giving a:
404
Not Found
Clearly GFY is not vetting their guests properly. If anyone loses money in these "ventures" Rory and Meltzer are gonna get sued. And it will be glorious.
Oh, and the GFY YouTube channel is up to 79 subscribers. They are, as Rory would say, "Killing it."
And Rory continues to dress in zip up jackets that make him look like the village idiot.
JR30
1 week ago
All the diehard lackeys, um, I mean long term investors, better pray that the third quarter results don’t show a decrease in cash level from the second quarter…
insert-text-here
"We have completely restructured, realigned, reinvented, reconstituted, and reinvigorated our business. We sold an unprofitable business unit that was operating in a challenging business sector. We’ve since restructured VERB as a holding company with three distinct, yet complimentary business units, one of which we have yet to announce. Each is managed by a separate management team, incentivized for success, and all three are currently generating revenue and are growing and growing at a rate that far outpaces the rate of revenue growth we have ever experienced. Third quarter results will be exceedingly better than second quarter results as these business units are now hitting their stride, and based on what we’re seeing right now, fourth quarter will greatly exceed third quarter results."
So it seems shorty wants to risk it all.
🤣
jobynimble
1 week ago
Soon VERB will be NASDAQ compliant again and will attract more large investors.
The same line used after the previous two reverse and how long did that last?
Bottom line is Verb needs to dramatically increase revenue, it’s the same old story. So unless/until that starts happening, Verb share price, being very illiquid now, will continue to show big swings (or not) until proven otherwise…
All the diehard lackeys, um, I mean long term investors, better pray that the third quarter results don’t show a decrease in cash level from the second quarter…
JR30
1 week ago
As I recall, the SP was about $13.35 when my last post was made.
Opening SP after the RS was $6.32.
Potential loss for shorty would have been $7.03 PER SHARE!
At one point, the SP went up to $16.13, which would have been a loss of $9.81 per share, not to mention other fees associated with borrowing.
Today's closing price is $9.85 per share. Shorty still underwater by $3.53 per share.
Shorty's plan isn't working out too well.
Ouch, that's got to hurt!