Verb Technology CEO says ‘stock should be trading at more than $22 per share’

On October 11, the President and Chief Executive Officer of Verb Technology issued a letter to the company’s stockholders, which the company disclosed in a regulatory filing. The letter states 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 (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.”