24/7 Market News- VERB Chairman Pens CEO Letter to Stockholders Outlying Potential Value Play

October 14, 2024

DENVER, Colo., Oct 14, 2024 (247marketnews.com)- Verb Technology (NASDAQ: VERB) published a shareholder letter from its Chairman and CEO, Rory J. Cutaia, highlighting the difference between its market cap and cash position.

As of October 10, 2024, Verb’s market cap was approximately $3.8M, while Verb reported having approximately $17.2 million cash in the bank, in its most recent Form 10-Q filing, and “the only debt we have is a ridiculously small, low interest (3.75%), low payment, 30-year term SBA loan of approximately $125K.

“So do the math – this means if we traded at nothing more than our net cash value, the stock should be trading at more than $22 per share.

“And that assumes we get ZERO value for the underlying businesses – ZERO.”

It makes no sense to me that the stock should trade the way it does. I can only assume that people are not reading the filings, analyzing the financials, and recognizing the amazing opportunity that the new VERB represents.

Cutaia further stated, “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.

“I believe we’ve placed ourselves atop a wave of three hot high-growth opportunities that are an outgrowth of recent changes in consumer, business, and societal behaviors, as well as recent changes in securities regulations, that are currently experiencing meaningful growth right now and into the foreseeable future.

Cutaia closed by mentioning, “We are extremely well capitalized – on even the most modest revenue assumptions, we have years of cash runway.

“We have virtually no debt to service.

“We have a super clean cap table – all of the warrants have either expired or are so far out of the money as to be irrelevant.

“There’s no hedge fund out there with cheap VERB shares they plan to short against warrants that they picked up for little or no consideration through a bad financing – as they simply don’t exist.

“We have an unbelievably small, tight float – only 763,230 shares as of October 9, 2024.”

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