A lot of emails being posted on twitter. IR is mentioning the end of the fiscal year in nearly every response. Makes sense, if the merger is with a profitable manufacturer, that you would want to complete it before the EOY. The consolidation of current notes and financing towards the backlog would serve as a write off.
More than likely this "syndicate of Investors" mentioned in the last PR is Al Masah Capital Ltd. Piyush Munot was placed as Head of Retail of the new Middle East subsidiary and also holds a directors position with Al Masah. They have over 1.5 billion in venture capitol investments and are heavy in the region and sector as well as agriculture and livestock. The potential meger being another of Al Masah's investments is highly likely, IMO.
When I looked into what it takes to set up a wholly owned LLC in the UAE I realized what a big move this was for this company. Very difficult to do without sacrificing profit to a partner as they did with Gulf Argo. Because you need a national of the UAE to set up an LLC. I suspect that Al Masah played a hand in this as well. With confirmed cold storage facilities and logistics centers as well as 7 new employee's hired for Verus Middle East it looks like additional capitol is there already. One of the benefits of a private LLC is autonomy. The recent trade financing is likely being run through VME rather than Verus international.
I got some clarification on the current default situation which obviously raised a lot of concern. The default occurred as a stipulation that a certain amount of common shares would be held in reserve to cover the loan when converted. They are not in default for lack of payment as these loans are not due until well into 2019. The line item that took Verus from actually having a net profit last quarter, the nearly 800k default "penalty", is actually a reserve in Lieu of the common stock being set aside and the majority of this reserve is reversible upon settlement of the loans. The CEO stated this in the last PR but I missed it.
I agree this drop is due in large from impatience but I would argue ignorance as well. Big picture perspective is not something the average OTC investor possesses. Easy to say they can't get financing and totally dismiss the fact that they stepped into a legal quagmire with RBIZ. I wonder how many have taken the time to read the lawsuit they just broke free from just a few months ago? I wonder how many have researched the CEO and how he took another food company to over 100+ million in under 2 years? I have looked into everyone involved in this company and I confidently put my trust in their skills over the noise of IHUB. May have an effect on weak hands but can't stop the PR from coming.
More than likely this "syndicate of Investors" mentioned in the last PR is Al Masah Capital Ltd. Piyush Munot was placed as Head of Retail of the new Middle East subsidiary and also holds a directors position with Al Masah. They have over 1.5 billion in venture capitol investments and are heavy in the region and sector as well as agriculture and livestock. The potential meger being another of Al Masah's investments is highly likely, IMO.
When I looked into what it takes to set up a wholly owned LLC in the UAE I realized what a big move this was for this company. Very difficult to do without sacrificing profit to a partner as they did with Gulf Argo. Because you need a national of the UAE to set up an LLC. I suspect that Al Masah played a hand in this as well. With confirmed cold storage facilities and logistics centers as well as 7 new employee's hired for Verus Middle East it looks like additional capitol is there already. One of the benefits of a private LLC is autonomy. The recent trade financing is likely being run through VME rather than Verus international.
I got some clarification on the current default situation which obviously raised a lot of concern. The default occurred as a stipulation that a certain amount of common shares would be held in reserve to cover the loan when converted. They are not in default for lack of payment as these loans are not due until well into 2019. The line item that took Verus from actually having a net profit last quarter, the nearly 800k default "penalty", is actually a reserve in Lieu of the common stock being set aside and the majority of this reserve is reversible upon settlement of the loans. The CEO stated this in the last PR but I missed it.
I agree this drop is due in large from impatience but I would argue ignorance as well. Big picture perspective is not something the average OTC investor possesses. Easy to say they can't get financing and totally dismiss the fact that they stepped into a legal quagmire with RBIZ. I wonder how many have taken the time to read the lawsuit they just broke free from just a few months ago? I wonder how many have researched the CEO and how he took another food company to over 100+ million in under 2 years? I have looked into everyone involved in this company and I confidently put my trust in their skills over the noise of IHUB. May have an effect on weak hands but can't stop the PR from coming.
2
1
