Verb CEO says Q3 results will be ‘exceedingly better’ than Q2 results

Verb Technology Company releases text of VERB Chairman & CEO Rory Cutaia’s Letter to Stockholders, which read in part, “I’m Rory J. Cutaia, VERB CEO, and I wanted to take this opportunity to share some information about the Company. Specifically, I want to address the recent reverse stock split, the current share price, the current businesses that comprise the Company, our financial condition, and finally, our future prospects. But first – here’s the headline – as of today, October 10, 2024, our market cap is approximately $3.8M, and as of our last Form 10-Q filing, we had cash in the bank of approximately $17.2M – and the only debt we have is a ridiculously small, low interest, 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. This is where I want to direct readers to the safe harbor provision disclosures at the bottom of this letter as I intend to make forward looking statements in what follows. We have completely restructured, realigned, reinvented, reconstituted, and reinvigorated our business. We sold an unprofitable business unit that was operating in a challenging business sector. We’ve since restructured VERB as a holding company with three distinct, yet complimentary business units, one of which we have yet to announce. Each is managed by a separate management team, incentivized for success, and all three are currently generating revenue and are growing and growing at a rate that far outpaces the rate of revenue growth we have ever experienced. 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.”