Audited Form 10-K financial disclosures do not include a “going concern” opinion
Los Alamitos, Calif. and Las Vegas, April 2, 2024 (Globe Newswire) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), the company behind the popular MARKET.live For the first time in the Company's history, a force livestream social shopping platform has announced that the Company's audited financial statements on its 2023 Form 10-K dated March 28, 2024 and filed on April 1, 2024 We are announcing that we will be making disclosures regarding the statements. (the “Form 10-K”) does not include a “going concern” opinion.
As further described in our Form 10-K, we disclosed cash and cash equivalents of approximately $14.2 million and notes payable of approximately $1.2 million. This represents an increase in cash and cash equivalents of $10.9 million compared to the prior year period and an increase in notes payable, as previously disclosed in the Company's 2022 Form 10-K filed on April 17, 2023. This means a decrease of approximately $7.3 million.
As further stated in the current Form 10-K:[W]We believe that our strengthened cash position and significant reductions in our current operating costs will fully fund our operations for at least the next 14 months, with the potential to generate additional revenues during that period. . As a result, significant doubts about our ability to continue as a going concern have been alleviated. ”
“With current new partnerships, including TikTok, new technology integrations and innovations, new strategic relationships, and numerous opportunities and significant funding sources for a company of our size, our management team is now able to: We can now focus on growing our revenue and growing our business to generate the returns our shareholders deserve,'' said Rory J. Cutaia, CEO of VERB.
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About verbs
Verb Technology Company, Inc. (NASDAQ: VERB) is a market leader in interactive video-based sales applications. The company's MARKET.live platform is a multi-vendor, multi-presenter, livestream social shopping destination that is at the forefront of the convergence of e-commerce and entertainment, hosting hundreds of retailers, brands, creators, and influencers. Monetize your worldwide fan and follower base. Social media channels. Brands, retailers, and creators who join MARKET.live can simultaneously broadcast livestream shopping events on numerous social media channels, including TikTok, in addition to MARKET.live, reaching exponentially larger audiences. can. Creators and entrepreneurs who participate in MARKET.live's Dropship Program and His TikTok Affiliate Program can earn money by selling products from the popular His MARKET.live retail store. The company is headquartered in Las Vegas, Nevada and operates creator studios in Los Alamitos, California and Philadelphia, Pennsylvania.
Follow VERB AND MARKET.LIVE here:
VERB on Facebook: https://www.facebook.com/market.liveofficial
TikTok's VERB: https://www.tiktok.com/@market.live_official
VERB's Instagram: https://www.instagram.com/market.liveofficial/
VERB on LinkedIn: https://www.linkedin.com/company/verb-tech/
VERB on YouTube: https://www.youtube.com/@market.liveofficial
Forward-looking statements
This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statements that predict, predict, suggest or may suggest the future. Refers to results, performance or achievements and may include words such as “anticipate,” “expect,” “project,” “project” or words or phrases of similar meaning. Forward-looking statements are based on current expectations, projections and assumptions that involve risks and uncertainties. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results may be affected by the forward-looking statements expressed or implied by these forward-looking statements. The actual results may differ significantly. Investors should refer to our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for additional information regarding risks and uncertainties that could cause actual results to differ materially from those expressed. See the Company's filings with the Securities and Exchange Commission, including. In forward-looking statements. All forward-looking statements in this press release are based on information available to the Company as of the date of this press release, and the Company does not warrant any disclosure of events occurring or conditions existing after the date of this press release. We undertake no obligation to update any forward-looking statements provided to reflect this. They are created unless required by law.
Public relations activities for investors:
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Media contact:
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