Verus International is the hottest ticker on OTC boards right now. Everything You Need To Know About Verus International (OTC:VRUS).
Verus International aka Verus Foods is a global nourishment auxiliary that sells wholesale white label food items to clients around the world. The Company exchanges on the OTC market (OTC:VRUS). Financial specialists can discover Real-Time statements and market data for the organization on www.otcmarkets.com.
The organization’s pipeline of items is comprised of solidified sustenance meat, poultry, fish, and vegetables. Its distribution system ranges as far as to the Middle East, North Africa and even Asia.
Verus International, Inc. (“Verus” or the “Company”) (OTC:VRUS) recently announced that Christopher Cutchens has been appointed as the Company’s Chief Financial Officer, effective June 1, 2019. As part of this appointment, Mr. Cutchens has relocated to Verus’ Maryland office. Along with his appoitment it comes with sweet deal of 30 million shares. This recent filing exposes the sweetheart deal.
“We have so many things in work, that appointing a full-time CFO on premises has become a critical need. I am looking forward to having another key member of our staff under the same roof,” said Anshu Bhatnagar, Verus’ CEO. Presently, Anshu Bhatnagar holds the position of Chairman & Chief Executive Officer of Verus International, Inc. since 2017.
Holdings of Anshu Bhatnagar
“As I grew to know the Verus story and began to understand the significant growth potential, I decided that this would be a perfect time to join the Company,” explained Mr. Cutchens. “Anshu’s entrepreneurial spirt and the potential size of this opportunity were both very appealing. I am excited to be part of a true growth story at such an early stage.”
Verus International has accomplished the ability in growing shareholder value by reinforcing its income base with expanding its global supply partnerships. These revenue generating agreements should be the impetus that will fuel a rally of Verus International, after the lack of stock price advancement of the previous couple of years.
That said, the stock is probably going to keep edging higher as speculators observe the organization’s developing income base.
Regardless, the unaudited financial statements are clear that the company does have significant risk ahead and as long as strong revenue growth continues. the company should be able to easily finance its obligations. I must remain objective and let you know that it’s working capital deficit is indeed alarming.
The Company brought about an overall deficit of $338,489 and has produced positive money streams from tasks of $19,198 for the three months finished January 31, 2019. At January 31, 2019, the Company had a working capital deficiency of $1,910,611, and an amassed shortfall of $26,443,229. It is the executives’ conclusion that these actualities raise generous uncertainty about the Company’s capacity to proceed as a going worry for a time of a year from the date of this documenting, without extra obligation or value financing.
The Company will clearly have to raise capital through the issuance of stock or some debt obligation.
The Company perceives income when commitments under the terms of an agreement with the client are fulfilled. Current financial documents provided to the public by the company are not clear on how the company documents income on contracts that extend over a period of time.
VRUS SHARE PRICE ANALYSIS
The impetus behind the ongoing flood of volume is the affirmation that the organization is bound for enormity. The company broke through its yearly high at .018 and hasnt let up.
The anticipation of more deals in development has investors right now ignoring the dangerous risk of insolvency that VRUS offers. Recent news that the organization had just verified a multimillion-dollar request from a merchant clearly engaged a new group of investors who’s risk tolerance is clearly much higher
While the stock is as yet moping at the $0.03 handle, it could be just a short time before it takes out the $0.05 level.
Underneath the $0.02 level, Verus International stays vulnerable to further drops in continuation of the long haul bear pattern. Be that as it may, on the off chance that ongoing value creation continues, it will be clear that the stock will keep edging higher.
LONG TERM PROSPECTS
Q4 gave us a clear understanding of what speculators ought to expect in 2019. During the quarter, the organization produced income of $2.2 million a 124% year over year increment. So far 2019 has been an incredible ride for the company. Let’s see if the good times can continue to roll or does VRUS join many OTC stocks of the past that are woulda, coulda, should’ve. To learn more about me and my strategy, please click HERE.