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$RBIZ
https://www.verusfoods.com
https://twitter.com/Verus_Foods?lang=en
Investor Contact: MKR Group Inc. Todd Kehrli or Mark Forney rbiz@mkr-group.com
As of June 18 , 2018 there were 790,173,522 shares of the issuer’s common stock,
RealBiz Media Group, Inc., including all its subsidiaries, are collectively referred to herein as “RealBiz,” “RBIZ”, “the Company,” “us,” or “we”. RealBiz operates in two business segments – Food Products and Real Estate.
Food Products
Verus Foods, Inc. (“Verus”) a Nevada corporation, and our wholly owned subsidiary, was incorporated in January 2017, and is an international supplier of consumer food products. Verus markets under its own brand primarily to supermarkets, hotels and other members of the wholesale trade. In 2018, Verus is pursuing a three-pronged development program through the addition of cold-storage facilities, product line expansion and new vertical farm-to-market operations. Subsequently, in 2017, Verus added beverages as a second vertical. Verus’ initial focus is on frozen foods, particularly meat, poultry, seafood, vegetables and french fries. Verus has a significant regional presence in the Middle East and North Africa (“MENA”) and sub-Saharan Africa (excluding Office of Foreign Assets Control (“OFAC”) restricted nations), with deep roots in the Gulf Cooperation Council (“GCC”) countries, which includes the United Arab Emirates (“UAE”), Oman, Bahrain, Qatar, Kingdom of Saudi Arabia and Kuwait.
In January 2017, Verus received a contract valued at approximately $78 million to supply beef to the GCC countries. The first orders under this contract were shipped in February 2017. In addition, Verus executed an agreement in August 2017 to which it became the exclusive distributor of Disney-branded juice products in the UAE and Oman. The first purchase order under the agreement was issued in December 2017.
Real Estate
Our real estate segment generates revenue from service fees (video creation and production and website hosting (ReachFactor)) and product sales (Nestbuilder Agent 2.0 and Microvideo app). The real estate segment was formed through the merging of three divisions: (i) our fully licensed real estate division (formerly known as Webdigs); (ii) our TV media contracts (Home Preview Channel /Extraordinary Vacation Homes) division; and (iii) our Real Estate Virtual Tour and Media group (RealBiz 360). The assets of these divisions were used to create a new suite of real estate products and services that create stickiness through the utilization of video, social media and loyalty programs. At the core of our programs is our proprietary video creation technology which allows for an automated conversion of data (text and pictures of home listings) to a video with voice and music. We provide video search, storage and marketing capabilities on multiple platform dynamics for web, mobile and TV. Once a home, personal or community video is created using our proprietary technology, it can be published to social media, email or distributed to multiple real estate websites, broadband or television for consumer viewing.
In October 2017, we announced the execution of a definitive agreement to spin-off the real estate segment into a separate public company named NestBuilder.com Corp. (“NestBuilder”). All stockholders of record at the time of the spin-off will receive an equivalent stock position in NestBuilder (the “Distribution”). The obligation of the Company and NestBuilder to consummate the Distribution is subject to the Securities and Exchange Commission (“SEC”) declaring NestBuilder’s Registration Statement on Form 10 effective. Although, a Form 10 automatically becomes effective 60 days after the date of filing, such Form 10 may be subject to additional review by the SEC which may delay such effective date. As of April 30, 2018, the Form 10 had not been declared effective by the SEC. Subject to approval of the record date by the Financial Industry Regulatory Authority (“FINRA”), the parties have deemed it advisable and in the best interest of such parties to fix the record date as April 25, 2018 for the determination of stockholders entitled to receive the Distribution and the Distribution date as June 21, 2018.
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NEW YORK, NY--(Marketwired - Sep 22, 2017) - RealBiz Media Group, Inc. (OTCQB: RBIZ) currently operating as Verus Foods (Verus), is pleased to announce that it has signed an agreement with The Walt Disney Company (Disney) to become the exclusive distributor of Disney-branded juice products in the United Arab Emirates (UAE) and Oman.
Under the terms of the deal, Verus will become the exclusive distributor of juice products bearing Disney and Pixar characters and other Disney labels in these important Gulf Cooperation Council (GCC) countries. This region has been one of the fastest growing juice markets in the world over the last decade, with per capita consumption of 100% fruit juice in the UAE expected to top North American averages by 2018. Juice is often consumed at more than one meal per day in many households, creating excellent markets for retailers in the region.
As an exclusive agreement, Verus will handle the distribution of a range of juice products bearing popular characters from Disney films such as Frozen and Cars, along with traditional Disney characters and images. The agreement is inclusive of the entire Disney library for licensing in the juice category. Terms of the contract are not disclosed, but Verus will give an update on the status of the arrangement as it is rolled out.
"It is an honor to be chosen by Disney to distribute their brand in these two countries. The UAE, in particular, is the second largest market in the GCC and has very favorable demographics to support sales of branded juice," said Anshu Bhatnagar, CEO of RealBiz/Verus. "Disney characters are known worldwide, so it is very easy to see the appeal of a familiar Disney image decorating the side of a juice box or similar product. We are very excited to be involved with this effort to extend the Disney brand into this important food category."
Verus will not disclose revenue expectations from this contract at this time. However, management believes this agreement could have a meaningful impact on Verus revenues by the 2018 time frame
http://www.marketwired.com/press-release/real...234683.htm
The exact terms of the contract are still to be unveiled, but the agreement involves exclusive marketing of popular Disney characters from recent films like Frozen and Cars along with the traditionally popular Disney characters and images. The entire Disney library is under the exclusive agreement for the juice category.
The GCC Strategy
This exclusive agreement comes a few months after CEO Anshu Bhatnagar's description of the vision of Verus' strategy in the quarterly earnings call with analysts in February 2017. He had emphasized the role of the GCC countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE in the strategy of Verus. He termed this as the first phase of the build-out of frozen food business with regional headquarters in Dubai. He aims to tap the frozen food market with fast moving products of meat, poultry, seafood, vegetables, and French fries. He stated that a steadily growing population, high dependence on imports, and little local sourcing of fresh food has made GCC the place to be.
The second phase aims to add logistics, cold storage, and transportation facilities in the latter half of 2017, while phase three will be a longer-term plan to expand into new territories and products.
The Juice Market
Imports are a big part of GCC countries' consumption and 70% of it consists of food. The region has been a big consumer of juices and is the fastest growing market with a 100% per capita consumption. It is expected to cross the North American consumption by 2018 as juices are consumed as part of different meals through the day.
Gaithersburg, MD, May 23, 2018 (GLOBE NEWSWIRE) -- RealBiz Media Group, Inc. (OTCQB: RBIZ), currently operating as Verus Foods (the “Company”), is providing this update concerning important corporate events.
The spin-off of the NestBuilder Real Estate Division was approved by the SEC for May 18, 2018 but did not occur due to an unexpected follow-on information request from FINRA. Management is working to complete this final information request as quickly as possible and will update investors when we receive clearance from FINRA.
More importantly, Verus is happy to report that its newly-reorganized subsidiary in Dubai has already begun to successfully penetrate the important retail channels in the region. For the first time, the Company is set to launch its own beverage brands, with three separate products covering the juice, coconut water and vitamin C drink categories. Packaging, formulation and branding are nearly complete and initial shipments are planned to begin in the next 60 days into 2,800 grocery store and similar retail outlets in Dubai. The company will start with nine SKUs between the three products and will eventually extend these brands into other Gulf Cooperation Council (GCC) countries after completing the initial roll-out.
“We are very excited to so quickly begin the process of developing and selling our own brands in the higher margin retail space,” explained Verus CEO Anshu Bhatnagar. “Gaining nine SKUs this quickly is a testament to the quality of the new team that we have assembled to penetrate retailers throughout the region. As we gain shelf space and become a familiar partner with these retailers, this also opens the door for additional product categories and distribution of other brands that wish to gain access to these growing markets. We will reach scale very quickly in this channel, so we are very optimistic about our ability to expand our product offerings at these locations.”
The new beverage lines will be followed by the announcement of additional food categories (which are under development) targeting these same retail channels. The Company intends to reveal each new food category as it nears roll-out, with the goal to have a full complement of Verus branded products in its sales mix by the end of 2018.
In answer to additional shareholder questions, the Company continues to discuss commercial lines of credit for working capital purposes with multiple funding sources that operate in its core regions and lines of business. Corporate questions involving share count, debt and other related items will be updated in conjunction with the next quarterly financial statements. In addition, the proposed name and symbol change will be filed as soon as the spin-off is completed.
https://www.otcmarkets.com/stock/RBIZ/news/Re...?id=193390
Realbiz Media Group Announces Goal to Retire Convertible Debt in 2018Press Release | 01/04/2018
Gaithersburg, MD, Jan. 04, 2018 (GLOBE NEWSWIRE) -- RealBiz Media Group, Inc. (OTCQB: RBIZ), currently operating as Verus Foods (the “Company”), announced today that based on pending sources of new funding, the Company does not intend to allow any of the previously contracted notes to convert into shares. The most recent transaction in this process involved the retirement of a note from PowerUp Lending Group totaling $57,592 on December 29, 2017. The pace of retirement of the existing convertible debt will depend upon receipt of various forms of financing currently under negotiation, so the timeline on reducing and eliminating this debt is not yet finalized. But, based on recent events, Verus has set a goal to eliminate this debt during 2018.
As part of that plan, Verus expects to receive new funding from former RealBiz Chairman Don Monaco as soon as the shares from the Monaker Group/RealBiz settlement are issued. Investors should be aware that this funding from Mr. Monaco was negotiated separately by Verus Foods and was not part of the Monaker Group/RealBiz settlement, but is dependent upon fulfillment of that settlement prior to receipt of funds. Details of the Monaco funding will be released after receipt, but can be considered more favorable than existing debt.
“While we are in discussions with multiple sources of working capital, the funding from Don is essential to move forward, because it can be used to prevent near-term conversions and fund some shipment growth before it is fully deployed to retire debt,” commented Verus CEO Anshu Bhatnagar. “Preventing shareholder dilution is important, but so is revenue growth, which can lead to more favorable and traditional forms of working capital. Our goal in 2018 is to replace all of our current debt with new and better forms of capital, so this gives us the ability to start that process in a meaningful way. Our capital program will involve a stair-step approach as we avoid dilution by pushing out existing debt conversion dates, while gradually eliminating less favorable forms of debt.”
Revenue growth is very important to the Company, because some verified forms of working capital require a minimum revenue level to commence. Because of this, Verus plans to take a measured approach to debt reduction, with a goal to have zero dilution from debt conversion, but also with application of funds to create growth to reach working capital thresholds.
Realbiz Media Group/Verus Foods Reports Q2 Fiscal 2018 Results, Provides Corporate Update
Gaithersburg, MD., June 21, 2018 (GLOBE NEWSWIRE) --
RealBiz Media Group, Inc. (RBIZ), currently operating as Verus Foods (the “Company”), yesterday announced the financial results for its second quarter of fiscal 2018, ended April 30, 2018. In conjunction with these results, the Company is also providing a corporate update.
In terms of Q2/2018, management is noting the following items of importance:
• For the first six months of fiscal 2018, Verus revenue totaled $2,234,444, a 102% increase over the $985,068 reported in the first half of fiscal 2017
• For the comparable six-month periods, Total Operating Expenses showed a 22% improvement at $991,645 in the first half of fiscal 2018 vs. $1,275,738 in fiscal 2017
• Legal and Professional Fees in Q2/2018 were $168,280 and accounted for 31% of the Company’s operating costs, but are expected to decrease following completion of the spin-off
“We are putting the finishing touches on 10 SKUs and have begun designing a dozen additional products, with a goal of steadily adding to our portfolio throughout 2018,” explained Verus CEO Anshu Bhatnagar. “As we previously communicated, we are shifting from a wholesale to a retail focus as part of a strategy to create a more valuable distribution network, beginning with about 2,800 locations. Our SKUs are not private label versions of existing products but are based on original recipes under our own labeling and branding.”
On a forward basis, the Company would like to provide the following update:
• Verus has completed and filed all of the required paperwork for the NestBuilder spin-off and that process is at the Secondary Review level at FINRA
• The Company is in the final due diligence stages of multiple forms of trade financing
• Verus has completed labeling, packaging and is fine tuning the formulations on original, proprietary product offerings for its starting 2,800-store network, with a Phase 2 rollout planned later in 2018 that will significantly expand this initial store base
• The shift from wholesale to retail is underway, which will greatly improve margins on future revenue streams
• The Company can confirm that it is in talks with Asian, South American, and North American food companies that have an interest in entering the Gulf Cooperation Council (GCC) markets
• Verus can confirm that it has its first business proposals from South America, which will only be implemented pending the outcome of current financing discussions
“The recent increase in our share count is from conversions connected to financings from a time when our capital options were restricted by lawsuits and spin-off delays,” said Verus CEO Anshu Bhatnagar. “However, we remain dedicated to seeking future funding that carries better terms and that can help us grow our business. As a result, we are concentrating on arranging trade financing from more traditional and expert sources of funding for our type of business. We have already successfully completed the due diligence process with purchase order and accounts receivable financing organizations; and are in the final stages with other funding entities who represent the final link in our supply chain needs. Our orders involve simple products but have complex structures because they are international. This has been a rigorous and difficult process, but we believe that the extra time and effort will be beneficial to shareholders.”
insert-text-here While there is no guarantee that these events will occur, management will provide an update call with investors to discuss these important events in the future.
In order to help investors, partners and customers track the company’s product line expansion, Verus intends to post ongoing operational updates, including photos of packaging and in-store displays, on its Twitter feed @Verus_Foods. With a seasoned team of regional, in-house product development experts, the Company anticipates a steady stream of product announcements throughout 2018.
About RealBiz Media Group, Inc.
RealBiz Media Group, Inc. consists of two business segments: an international food subsidiary (Verus Foods) that sells products to customers worldwide; and a real estate digital media and technology company. RealBiz Media Group, Inc. (OTC: RBIZ) trades on the OTC marketplace for early stage and developing U.S. and international companies.
NEW YORK, NY--(Marketwired - Aug 10, 2017) - Verus Foods (the "Company"
, currently trading as RealBiz Media Group, Inc. (OTCQB: RBIZ), is pleased to announce the appointment of Michael O'Gorman, Thomas Butler Fore, and Lalit Lal to its Board of Directors, effective August 10, 2017.
Michael O'Gorman JD, MBA is Chairman and Chief Executive Officer of Crassus Holdings, Ltd, whose subsidiaries specialize in sourcing and marketing all natural, healthy food and consumer products. Mr. Gorman has over 35 years of successful food brokerage, food manufacturing, project management, finance and legal experience in the international arena. He also previously served as Chief of Staff in both the House of Representatives and U.S. Senate. His agricultural experience is uniquely first hand, as he has owned and operated a 252-acre farm where he raised both crops and Black Angus cattle. He has spent a number of years working at major international law firms as well as being Senior Managing Director at First Wall Street Capital, where he arranged funding in excess of $2 billion. He received his JD in International Law from the University of Connecticut, MBA in International Finance from Fairleigh Dickinson University and BS in Organic Chemistry from St. Peters College.
Thomas Butler Fore is a multi-faceted entrepreneur and executive with experience in numerous categories of business, including real estate, media, personal care products and fashion. He currently serves as CEO of Sora Development, an award winning real estate development firm focused on large mixed-use projects with a specialty in public-private partnerships. His other roles include CEO of Tiderock Media, an active film production company with 13 feature films completed; and founder and board member for Digital2go Media Networks, a mobile platform that utilizes beacon technology for data collection and advertising, with a footprint of more than 10,000 locations in the U.S. and Latin America. Mr. Fore is also involved as an advisor and partner in numerous other enterprises in media, real estate and consumer products. A highly-successful entrepreneur, he holds a BA from Towson University.
Lalit Lal is a food industry veteran who currently serves as the President of American World Foods, Inc. Mr. Lal has extensive knowledge of the international food market and has operated in the Middle East and GCC for more than 25 years. Now based in the U.S., Mr. Lal held senior executive positions during his career at some of Dubai's leading food companies, including Federal Foods, Gulf Marketing Group, Al Islami Foods and Farm Fresh, where he developed significant expertise in the Middle East and Europe. His knowledge of food distribution networks on multiple continents is extensive and includes a deep network of suppliers in the important Fast-Moving Consumer Goods category.
"All our new board members bring tremendous experience and diverse skills to our board," said Anshu Bhatnagar, CEO of Verus Foods. "Michael O'Gorman knows the international food business from the field level up, with a depth of understanding that includes actually running a substantial farming operation. Tom Fore's expertise is primarily in real estate development, media, marketing, and consumer products, a great blend of skills to utilize during our company-building phase. And, Lalit Lal gives us access to more than two decades of relationships and knowledge with suppliers and customers in both our target markets and the U.S. We are very excited to attract such high-quality executives to help us shape the future of Verus Foods."
The Company plans to announce the addition of key support personnel in the near future.
https://www.canadianinsider.com/realbiz-media...rd-members
F Berdon & Co. Reported increased Stake in Realbiz Media Group, Inc
F Berdon & Co. filed with SEC a SC 13G form for Realbiz Media Group, Inc. It can be found at: 000114420418034585. As reported by F Berdon & Co., the filler increased its stake in the stock by 76.71 % for 33,148,636 shares. F Berdon & Co. currently owns 9.28% of the stock. Date of activity: June 7, 2018.
Names of Person Filing.
Frederick Berdon (“ Frederick Berdon ”) F. Berdon & Co., LLC (“ F. Berdon ”)
Address of Principal Business Office, or if none, Residence.
Frederick Berdon
37 Westerleigh Rd., Purchase, NY 10577
F. Berdon
222 Purchase Street, Suite 308 Rye, NY 10580
1. Amount beneficially owned by
Frederick Berdon: 33,148,636 shares of Common Stock of the Issuer
F. Berdon: 23,648,636 shares of Common Stock of the Issuer.
2. (b) Percent of Class:
Frederick Berdon beneficially holds 9.28% of the Issuer’s issued and outstanding Common Stock (based on 357,284,081 shares of Common Stock issued and outstanding, as stated by the Issuer in its most recent Quarterly Report on Form 10-Q filed with the Commission on May 4, 2018).
https://m2compliance.com/hosting/company/RBIZ...mSC13G.pdf
CT Order
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
May 23, 2018
ORDER GRANTING CONFIDENTIAL TREATMENT
UNDER THE SECURITIES EXCHANGE ACT OF 1934
RealBiz Media Group, Inc.
File No. 1-34106 - CF#36210
_____________________
RealBiz Media Group, Inc. submitted an application under Rule 24b-2 requesting confidential treatment for information it excluded from the Exhibits to a Form 10-K filed on March 26, 2018.
Based on representations by RealBiz Media Group, Inc. that this information qualifies as confidential commercial or financial information under the Freedom of Information Act, 5 U.S.C. 552(b)(4), the Division of Corporation Finance has determined not to publicly disclose it. Accordingly, excluded information from the following exhibits will not be released to the public for the time periods specified:
Exhibit 10.25 through September 30, 2019
Exhibit 10.26 through September 30, 2019
For the Commission, by the Division of Corporation Finance, pursuant to delegated authority:
Brent J. Fields
Secretary
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$RBIZ
https://www.verusfoods.com
https://twitter.com/Verus_Foods?lang=en
Investor Contact: MKR Group Inc. Todd Kehrli or Mark Forney rbiz@mkr-group.com
As of June 18 , 2018 there were 790,173,522 shares of the issuer’s common stock,
RealBiz Media Group, Inc., including all its subsidiaries, are collectively referred to herein as “RealBiz,” “RBIZ”, “the Company,” “us,” or “we”. RealBiz operates in two business segments – Food Products and Real Estate.
Food Products
Verus Foods, Inc. (“Verus”) a Nevada corporation, and our wholly owned subsidiary, was incorporated in January 2017, and is an international supplier of consumer food products. Verus markets under its own brand primarily to supermarkets, hotels and other members of the wholesale trade. In 2018, Verus is pursuing a three-pronged development program through the addition of cold-storage facilities, product line expansion and new vertical farm-to-market operations. Subsequently, in 2017, Verus added beverages as a second vertical. Verus’ initial focus is on frozen foods, particularly meat, poultry, seafood, vegetables and french fries. Verus has a significant regional presence in the Middle East and North Africa (“MENA”) and sub-Saharan Africa (excluding Office of Foreign Assets Control (“OFAC”) restricted nations), with deep roots in the Gulf Cooperation Council (“GCC”) countries, which includes the United Arab Emirates (“UAE”), Oman, Bahrain, Qatar, Kingdom of Saudi Arabia and Kuwait.
In January 2017, Verus received a contract valued at approximately $78 million to supply beef to the GCC countries. The first orders under this contract were shipped in February 2017. In addition, Verus executed an agreement in August 2017 to which it became the exclusive distributor of Disney-branded juice products in the UAE and Oman. The first purchase order under the agreement was issued in December 2017.
Real Estate
Our real estate segment generates revenue from service fees (video creation and production and website hosting (ReachFactor)) and product sales (Nestbuilder Agent 2.0 and Microvideo app). The real estate segment was formed through the merging of three divisions: (i) our fully licensed real estate division (formerly known as Webdigs); (ii) our TV media contracts (Home Preview Channel /Extraordinary Vacation Homes) division; and (iii) our Real Estate Virtual Tour and Media group (RealBiz 360). The assets of these divisions were used to create a new suite of real estate products and services that create stickiness through the utilization of video, social media and loyalty programs. At the core of our programs is our proprietary video creation technology which allows for an automated conversion of data (text and pictures of home listings) to a video with voice and music. We provide video search, storage and marketing capabilities on multiple platform dynamics for web, mobile and TV. Once a home, personal or community video is created using our proprietary technology, it can be published to social media, email or distributed to multiple real estate websites, broadband or television for consumer viewing.
In October 2017, we announced the execution of a definitive agreement to spin-off the real estate segment into a separate public company named NestBuilder.com Corp. (“NestBuilder”). All stockholders of record at the time of the spin-off will receive an equivalent stock position in NestBuilder (the “Distribution”). The obligation of the Company and NestBuilder to consummate the Distribution is subject to the Securities and Exchange Commission (“SEC”) declaring NestBuilder’s Registration Statement on Form 10 effective. Although, a Form 10 automatically becomes effective 60 days after the date of filing, such Form 10 may be subject to additional review by the SEC which may delay such effective date. As of April 30, 2018, the Form 10 had not been declared effective by the SEC. Subject to approval of the record date by the Financial Industry Regulatory Authority (“FINRA”), the parties have deemed it advisable and in the best interest of such parties to fix the record date as April 25, 2018 for the determination of stockholders entitled to receive the Distribution and the Distribution date as June 21, 2018.
https://backend.otcmarkets.com/otcapi/company...ntent/html
NEW YORK, NY--(Marketwired - Sep 22, 2017) - RealBiz Media Group, Inc. (OTCQB: RBIZ) currently operating as Verus Foods (Verus), is pleased to announce that it has signed an agreement with The Walt Disney Company (Disney) to become the exclusive distributor of Disney-branded juice products in the United Arab Emirates (UAE) and Oman.
Under the terms of the deal, Verus will become the exclusive distributor of juice products bearing Disney and Pixar characters and other Disney labels in these important Gulf Cooperation Council (GCC) countries. This region has been one of the fastest growing juice markets in the world over the last decade, with per capita consumption of 100% fruit juice in the UAE expected to top North American averages by 2018. Juice is often consumed at more than one meal per day in many households, creating excellent markets for retailers in the region.
As an exclusive agreement, Verus will handle the distribution of a range of juice products bearing popular characters from Disney films such as Frozen and Cars, along with traditional Disney characters and images. The agreement is inclusive of the entire Disney library for licensing in the juice category. Terms of the contract are not disclosed, but Verus will give an update on the status of the arrangement as it is rolled out.
"It is an honor to be chosen by Disney to distribute their brand in these two countries. The UAE, in particular, is the second largest market in the GCC and has very favorable demographics to support sales of branded juice," said Anshu Bhatnagar, CEO of RealBiz/Verus. "Disney characters are known worldwide, so it is very easy to see the appeal of a familiar Disney image decorating the side of a juice box or similar product. We are very excited to be involved with this effort to extend the Disney brand into this important food category."
Verus will not disclose revenue expectations from this contract at this time. However, management believes this agreement could have a meaningful impact on Verus revenues by the 2018 time frame
http://www.marketwired.com/press-release/real...234683.htm
The exact terms of the contract are still to be unveiled, but the agreement involves exclusive marketing of popular Disney characters from recent films like Frozen and Cars along with the traditionally popular Disney characters and images. The entire Disney library is under the exclusive agreement for the juice category.
The GCC Strategy
This exclusive agreement comes a few months after CEO Anshu Bhatnagar's description of the vision of Verus' strategy in the quarterly earnings call with analysts in February 2017. He had emphasized the role of the GCC countries - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE in the strategy of Verus. He termed this as the first phase of the build-out of frozen food business with regional headquarters in Dubai. He aims to tap the frozen food market with fast moving products of meat, poultry, seafood, vegetables, and French fries. He stated that a steadily growing population, high dependence on imports, and little local sourcing of fresh food has made GCC the place to be.
The second phase aims to add logistics, cold storage, and transportation facilities in the latter half of 2017, while phase three will be a longer-term plan to expand into new territories and products.
The Juice Market
Imports are a big part of GCC countries' consumption and 70% of it consists of food. The region has been a big consumer of juices and is the fastest growing market with a 100% per capita consumption. It is expected to cross the North American consumption by 2018 as juices are consumed as part of different meals through the day.
Gaithersburg, MD, May 23, 2018 (GLOBE NEWSWIRE) -- RealBiz Media Group, Inc. (OTCQB: RBIZ), currently operating as Verus Foods (the “Company”), is providing this update concerning important corporate events.
The spin-off of the NestBuilder Real Estate Division was approved by the SEC for May 18, 2018 but did not occur due to an unexpected follow-on information request from FINRA. Management is working to complete this final information request as quickly as possible and will update investors when we receive clearance from FINRA.
More importantly, Verus is happy to report that its newly-reorganized subsidiary in Dubai has already begun to successfully penetrate the important retail channels in the region. For the first time, the Company is set to launch its own beverage brands, with three separate products covering the juice, coconut water and vitamin C drink categories. Packaging, formulation and branding are nearly complete and initial shipments are planned to begin in the next 60 days into 2,800 grocery store and similar retail outlets in Dubai. The company will start with nine SKUs between the three products and will eventually extend these brands into other Gulf Cooperation Council (GCC) countries after completing the initial roll-out.
“We are very excited to so quickly begin the process of developing and selling our own brands in the higher margin retail space,” explained Verus CEO Anshu Bhatnagar. “Gaining nine SKUs this quickly is a testament to the quality of the new team that we have assembled to penetrate retailers throughout the region. As we gain shelf space and become a familiar partner with these retailers, this also opens the door for additional product categories and distribution of other brands that wish to gain access to these growing markets. We will reach scale very quickly in this channel, so we are very optimistic about our ability to expand our product offerings at these locations.”
The new beverage lines will be followed by the announcement of additional food categories (which are under development) targeting these same retail channels. The Company intends to reveal each new food category as it nears roll-out, with the goal to have a full complement of Verus branded products in its sales mix by the end of 2018.
In answer to additional shareholder questions, the Company continues to discuss commercial lines of credit for working capital purposes with multiple funding sources that operate in its core regions and lines of business. Corporate questions involving share count, debt and other related items will be updated in conjunction with the next quarterly financial statements. In addition, the proposed name and symbol change will be filed as soon as the spin-off is completed.
https://www.otcmarkets.com/stock/RBIZ/news/Re...?id=193390
Realbiz Media Group Announces Goal to Retire Convertible Debt in 2018Press Release | 01/04/2018
Gaithersburg, MD, Jan. 04, 2018 (GLOBE NEWSWIRE) -- RealBiz Media Group, Inc. (OTCQB: RBIZ), currently operating as Verus Foods (the “Company”), announced today that based on pending sources of new funding, the Company does not intend to allow any of the previously contracted notes to convert into shares. The most recent transaction in this process involved the retirement of a note from PowerUp Lending Group totaling $57,592 on December 29, 2017. The pace of retirement of the existing convertible debt will depend upon receipt of various forms of financing currently under negotiation, so the timeline on reducing and eliminating this debt is not yet finalized. But, based on recent events, Verus has set a goal to eliminate this debt during 2018.
As part of that plan, Verus expects to receive new funding from former RealBiz Chairman Don Monaco as soon as the shares from the Monaker Group/RealBiz settlement are issued. Investors should be aware that this funding from Mr. Monaco was negotiated separately by Verus Foods and was not part of the Monaker Group/RealBiz settlement, but is dependent upon fulfillment of that settlement prior to receipt of funds. Details of the Monaco funding will be released after receipt, but can be considered more favorable than existing debt.
“While we are in discussions with multiple sources of working capital, the funding from Don is essential to move forward, because it can be used to prevent near-term conversions and fund some shipment growth before it is fully deployed to retire debt,” commented Verus CEO Anshu Bhatnagar. “Preventing shareholder dilution is important, but so is revenue growth, which can lead to more favorable and traditional forms of working capital. Our goal in 2018 is to replace all of our current debt with new and better forms of capital, so this gives us the ability to start that process in a meaningful way. Our capital program will involve a stair-step approach as we avoid dilution by pushing out existing debt conversion dates, while gradually eliminating less favorable forms of debt.”
Revenue growth is very important to the Company, because some verified forms of working capital require a minimum revenue level to commence. Because of this, Verus plans to take a measured approach to debt reduction, with a goal to have zero dilution from debt conversion, but also with application of funds to create growth to reach working capital thresholds.
Realbiz Media Group/Verus Foods Reports Q2 Fiscal 2018 Results, Provides Corporate Update
Gaithersburg, MD., June 21, 2018 (GLOBE NEWSWIRE) --
RealBiz Media Group, Inc. (RBIZ), currently operating as Verus Foods (the “Company”), yesterday announced the financial results for its second quarter of fiscal 2018, ended April 30, 2018. In conjunction with these results, the Company is also providing a corporate update.
In terms of Q2/2018, management is noting the following items of importance:
• For the first six months of fiscal 2018, Verus revenue totaled $2,234,444, a 102% increase over the $985,068 reported in the first half of fiscal 2017
• For the comparable six-month periods, Total Operating Expenses showed a 22% improvement at $991,645 in the first half of fiscal 2018 vs. $1,275,738 in fiscal 2017
• Legal and Professional Fees in Q2/2018 were $168,280 and accounted for 31% of the Company’s operating costs, but are expected to decrease following completion of the spin-off
“We are putting the finishing touches on 10 SKUs and have begun designing a dozen additional products, with a goal of steadily adding to our portfolio throughout 2018,” explained Verus CEO Anshu Bhatnagar. “As we previously communicated, we are shifting from a wholesale to a retail focus as part of a strategy to create a more valuable distribution network, beginning with about 2,800 locations. Our SKUs are not private label versions of existing products but are based on original recipes under our own labeling and branding.”
On a forward basis, the Company would like to provide the following update:
• Verus has completed and filed all of the required paperwork for the NestBuilder spin-off and that process is at the Secondary Review level at FINRA
• The Company is in the final due diligence stages of multiple forms of trade financing
• Verus has completed labeling, packaging and is fine tuning the formulations on original, proprietary product offerings for its starting 2,800-store network, with a Phase 2 rollout planned later in 2018 that will significantly expand this initial store base
• The shift from wholesale to retail is underway, which will greatly improve margins on future revenue streams
• The Company can confirm that it is in talks with Asian, South American, and North American food companies that have an interest in entering the Gulf Cooperation Council (GCC) markets
• Verus can confirm that it has its first business proposals from South America, which will only be implemented pending the outcome of current financing discussions
“The recent increase in our share count is from conversions connected to financings from a time when our capital options were restricted by lawsuits and spin-off delays,” said Verus CEO Anshu Bhatnagar. “However, we remain dedicated to seeking future funding that carries better terms and that can help us grow our business. As a result, we are concentrating on arranging trade financing from more traditional and expert sources of funding for our type of business. We have already successfully completed the due diligence process with purchase order and accounts receivable financing organizations; and are in the final stages with other funding entities who represent the final link in our supply chain needs. Our orders involve simple products but have complex structures because they are international. This has been a rigorous and difficult process, but we believe that the extra time and effort will be beneficial to shareholders.”
insert-text-here While there is no guarantee that these events will occur, management will provide an update call with investors to discuss these important events in the future.
In order to help investors, partners and customers track the company’s product line expansion, Verus intends to post ongoing operational updates, including photos of packaging and in-store displays, on its Twitter feed @Verus_Foods. With a seasoned team of regional, in-house product development experts, the Company anticipates a steady stream of product announcements throughout 2018.
About RealBiz Media Group, Inc.
RealBiz Media Group, Inc. consists of two business segments: an international food subsidiary (Verus Foods) that sells products to customers worldwide; and a real estate digital media and technology company. RealBiz Media Group, Inc. (OTC: RBIZ) trades on the OTC marketplace for early stage and developing U.S. and international companies.
NEW YORK, NY--(Marketwired - Aug 10, 2017) - Verus Foods (the "Company"
, currently trading as RealBiz Media Group, Inc. (OTCQB: RBIZ), is pleased to announce the appointment of Michael O'Gorman, Thomas Butler Fore, and Lalit Lal to its Board of Directors, effective August 10, 2017. Michael O'Gorman JD, MBA is Chairman and Chief Executive Officer of Crassus Holdings, Ltd, whose subsidiaries specialize in sourcing and marketing all natural, healthy food and consumer products. Mr. Gorman has over 35 years of successful food brokerage, food manufacturing, project management, finance and legal experience in the international arena. He also previously served as Chief of Staff in both the House of Representatives and U.S. Senate. His agricultural experience is uniquely first hand, as he has owned and operated a 252-acre farm where he raised both crops and Black Angus cattle. He has spent a number of years working at major international law firms as well as being Senior Managing Director at First Wall Street Capital, where he arranged funding in excess of $2 billion. He received his JD in International Law from the University of Connecticut, MBA in International Finance from Fairleigh Dickinson University and BS in Organic Chemistry from St. Peters College.
Thomas Butler Fore is a multi-faceted entrepreneur and executive with experience in numerous categories of business, including real estate, media, personal care products and fashion. He currently serves as CEO of Sora Development, an award winning real estate development firm focused on large mixed-use projects with a specialty in public-private partnerships. His other roles include CEO of Tiderock Media, an active film production company with 13 feature films completed; and founder and board member for Digital2go Media Networks, a mobile platform that utilizes beacon technology for data collection and advertising, with a footprint of more than 10,000 locations in the U.S. and Latin America. Mr. Fore is also involved as an advisor and partner in numerous other enterprises in media, real estate and consumer products. A highly-successful entrepreneur, he holds a BA from Towson University.
Lalit Lal is a food industry veteran who currently serves as the President of American World Foods, Inc. Mr. Lal has extensive knowledge of the international food market and has operated in the Middle East and GCC for more than 25 years. Now based in the U.S., Mr. Lal held senior executive positions during his career at some of Dubai's leading food companies, including Federal Foods, Gulf Marketing Group, Al Islami Foods and Farm Fresh, where he developed significant expertise in the Middle East and Europe. His knowledge of food distribution networks on multiple continents is extensive and includes a deep network of suppliers in the important Fast-Moving Consumer Goods category.
"All our new board members bring tremendous experience and diverse skills to our board," said Anshu Bhatnagar, CEO of Verus Foods. "Michael O'Gorman knows the international food business from the field level up, with a depth of understanding that includes actually running a substantial farming operation. Tom Fore's expertise is primarily in real estate development, media, marketing, and consumer products, a great blend of skills to utilize during our company-building phase. And, Lalit Lal gives us access to more than two decades of relationships and knowledge with suppliers and customers in both our target markets and the U.S. We are very excited to attract such high-quality executives to help us shape the future of Verus Foods."
The Company plans to announce the addition of key support personnel in the near future.
https://www.canadianinsider.com/realbiz-media...rd-members
F Berdon & Co. Reported increased Stake in Realbiz Media Group, Inc
F Berdon & Co. filed with SEC a SC 13G form for Realbiz Media Group, Inc. It can be found at: 000114420418034585. As reported by F Berdon & Co., the filler increased its stake in the stock by 76.71 % for 33,148,636 shares. F Berdon & Co. currently owns 9.28% of the stock. Date of activity: June 7, 2018.
Names of Person Filing.
Frederick Berdon (“ Frederick Berdon ”) F. Berdon & Co., LLC (“ F. Berdon ”)
Address of Principal Business Office, or if none, Residence.
Frederick Berdon
37 Westerleigh Rd., Purchase, NY 10577
F. Berdon
222 Purchase Street, Suite 308 Rye, NY 10580
1. Amount beneficially owned by
Frederick Berdon: 33,148,636 shares of Common Stock of the Issuer
F. Berdon: 23,648,636 shares of Common Stock of the Issuer.
2. (b) Percent of Class:
Frederick Berdon beneficially holds 9.28% of the Issuer’s issued and outstanding Common Stock (based on 357,284,081 shares of Common Stock issued and outstanding, as stated by the Issuer in its most recent Quarterly Report on Form 10-Q filed with the Commission on May 4, 2018).
https://m2compliance.com/hosting/company/RBIZ...mSC13G.pdf
CT Order
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
May 23, 2018
ORDER GRANTING CONFIDENTIAL TREATMENT
UNDER THE SECURITIES EXCHANGE ACT OF 1934
RealBiz Media Group, Inc.
File No. 1-34106 - CF#36210
_____________________
RealBiz Media Group, Inc. submitted an application under Rule 24b-2 requesting confidential treatment for information it excluded from the Exhibits to a Form 10-K filed on March 26, 2018.
Based on representations by RealBiz Media Group, Inc. that this information qualifies as confidential commercial or financial information under the Freedom of Information Act, 5 U.S.C. 552(b)(4), the Division of Corporation Finance has determined not to publicly disclose it. Accordingly, excluded information from the following exhibits will not be released to the public for the time periods specified:
Exhibit 10.25 through September 30, 2019
Exhibit 10.26 through September 30, 2019
For the Commission, by the Division of Corporation Finance, pursuant to delegated authority:
Brent J. Fields
Secretary
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