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Verus International, Inc. (VRUS)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.00160.0000 (0.00%)
At close: 3:59PM EDT
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Previous Close0.0016
Open0.0016
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.0015 - 0.0017
52 Week Range0.0010 - 0.0300
Volume110,379,532
Avg. Volume177,103,515
Market Cap7.703M
Beta (5Y Monthly)0.80
PE Ratio (TTM)N/A
EPS (TTM)-0.0060
Earnings DateSep. 21, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    VERUS INTERNATIONAL REPORTS RECORD THIRD QUARTER RESULTS

    Gaithersburg, MD, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) reported record results for its third fiscal quarter ended July 31, 2020. In conjunction with this release, the Company is also providing additional details on significant business developments occurring subsequent to its quarter end. For fiscal Q3 2020, management is noting the following items of importance: * Revenue achieved an all-time 3rd quarter record, reaching $6.2 million, an increase of 78% over the $3.5 million reported in Q3 2019; * Q3 revenue marked the Company’s 9th consecutive quarter of double- or triple-digit year-over-year revenue growth; * The global pandemic continued to impact suppliers, customers and transport during Q3, but did show gradual improvement during the quarter; * Gross profit margin was 14.8%, 60 basis points higher than the 14.2% reported in Q3 2019; * Operating expenses of $1.2 million were $0.6 million lower than the $1.8 million reported in Q3 2019, primarily due to the completion of the CEO’s stock-based compensation program during Q2 2020, resulting in no related stock-based compensation expense for Q3 2020, partially offset by a net increase in other operating expenses to support the 78% revenue increase; * Operating loss of $0.3 million improved significantly, declining from $1.3 million in Q3 2019, a 79% year-over-year improvement; * Net loss was $1.3 million for Q3 2020 compared to a net loss of $1.4 million for Q3 2019. The Company experienced a one-time increase in interest expense of $0.8 million related to the conversion of certain convertible notes payable during Q3 2020; and * Stockholders’ equity achieved a new record at $0.6 million, which is significantly higher than the stockholders’ deficit of $0.9 million reported at fiscal year-end October 31, 2019.“The retail recovery in our markets was a little choppier than we anticipated during Q3, but we were pleased to improve our revenue both on a sequential and year-over-year basis,” explained Verus CEO Anshu Bhatnagar. “We faced downward uncertainties in all of our markets and had some delays late in the quarter, but still generated 78% revenue growth, extending our streak of double- or triple-digit revenue growth into its third year. We believe we have a great line up in place to carry our positive growth trend into 2021.”On a forward basis, the Company is providing the following update and guidance: * Verus continues to engage with retail customers that delayed or suspended orders due to store closures and sports season uncertainty, and expects to sign some of these target chains during the fall and early winter seasonal buying periods; * The Big League Foods (“BLF”) division expects to have product in four chains, T.J. Maxx, Marshalls, Meijer and Big Five Sporting Goods in October 2020; * The newly acquired Eliot’s Nut Butters is already preparing for a product line expansion; * National Hockey League (“NHL”) candy products are in development, with an in-store target to coincide with the start of the NHL season during December 2020; * The Pachyderm Labs division is now 44 products strong with an initial wholesale distribution launch through 20 distribution warehouses across 6 states; * Verus reduced its convertible debt by approximately 50% from approximately $1.3 million at the end of Q3 2020 to approximately $0.6 million as of September 18, 2020; and * The Company completed its authorized equity funding under its effective S-1 with White Lion Capital.“We made a conscious effort to become more U.S.-centric in our sales efforts this quarter, based on better margins and opportunities for growth in our domestic lines,” said CEO Bhatnagar. “We also made some tough decisions in terms of our debt and financing activities, which we will describe in detail during our earnings call. Simply put, we took a series of actions designed to immediately reduce our cash burn, increase our working capital, and put us in a position to gain commercial credit. Our goal is to end our reliance on the kind of convertible debt treadmill that left us with a chronic shortage of working capital in the past. We have the best product line in our history and believe that our way back will be paved via increased growth, so that is our goal through the remainder of 2020.”Financial Results and Corporate Update Conference CallVerus management will host a conference call for analysts and investors on Tuesday, September 22, 2020 at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) to discuss the Company’s financial results and provide a corporate update.To listen to the live conference call, parties should connect approximately 15 minutes prior to the start of the call as follows: * Dial-in number: (877) 269-7756Please note there is no access code required to join the call.A live and archived webcast of the conference call will be accessible on the "Investor Relations" section of the Company's website at www.verusfoods.com. To access the live webcast, please log in 15 minutes prior to the start of the call to download and install any necessary audio software.About Verus InternationalVerus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and on a global basis. The Company trades on the OTC market (OTCQB: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, the Eliot’s Adult Nut Butters website, www.eliotsnutbutters.com; and via the official Twitter feed @Verus_Foods, the Big League Foods subsidiary Twitter feed @BigLeagueFoods and the Pachyderm Labs subsidiary Twitter feed @PachydermLabs.Safe Harbor StatementThis press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.ContactsInvestor Contact: MKR Group Inc. Todd Kehrli or Mark Forney vrus@mkr-group.com

  • GlobeNewswire

    VERUS INTERNATIONAL EXPANDS PRODUCT LINE -- ACQUIRES ELIOT’S NUT BUTTERS

    Gaithersburg, MD, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Verus International, Inc. (“Verus” or the “Company”) (OTCQB: VRUS) is pleased to announce that it has acquired Eliot’s Nut Butters (“Eliot’s”), an award-winning small batch, flavored nut butter company based in Portland, Oregon. Eliot’s currently offers six products, consisting of four peanut butters; Spicy Thai, Honey Chipotle, Classic Salted, and Espresso Nib, an Oregon Hazelnut Chocolate Spread, and an Everything Bagel Nut Butter. Founded in 2013, Eliot’s has a national footprint in most U.S. states and is primarily sold in Whole Foods, Kroger, natural and specialty grocery, and online via Amazon and Eliot’s company website. Eliot’s is currently on track to generate approximately $400,000 in revenue during calendar year 2020 and has a three-year growth rate of approximately 60% fueled by significant growth from online and Whole Foods revenue. Verus is acquiring Eliot’s at an early stage where the company is seeking to expand its distribution footprint and introduce new products to reach additional retail venues.“This is a small, strategic acquisition where we are gaining an established product line, new customers, and expertise in online sales,” explained Verus CEO Anshu Bhatnagar. “Eliot’s is an outstanding, highly rated brand that can benefit from our growing distribution network, so we see the potential for some organic sales acceleration simply through wider distribution. We expect to tap into Eliot’s expertise in online sales, but we are also very excited about new products in development that we expect to open a greater number of retail doors. This acquisition provides us an entry point into some specialty and healthier food categories where we would like to expand in the future. Our goal is to have a collection of high growth food lines that will create natural cross-selling opportunities as our retailer footprint expands. We are looking forward to working with our new Portland-based team to make the Eliot’s brand a household name in the U.S. and other countries.”Information concerning this acquisition will be included in a Form 8-K filed with the U.S. Securities and Exchange Commission in conjunction with this release. Additional details on Eliot’s are available at the company website, https://eliotsnutbutters.com/.About Verus InternationalVerus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and on a global basis. The Company trades on the OTC market (OTCQB: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, and via the official Twitter feed @Verus_Foods, the Big League Foods subsidiary Twitter feed @BigLeagueFoods and the Pachyderm Labs subsidiary Twitter feed @PachydermLabs.Safe Harbor Statement This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results could differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Contacts Investor Contact: MKR Group Inc. Todd Kehrli or Mark Forney vrus@mkr-group.com

  • GlobeNewswire

    Verus International, Inc. CEO Discusses Recent News and International Expansion in a New Audio Interview with SmallCapVoice.com

    AUSTIN, Texas, Sept. 01, 2020 (GLOBE NEWSWIRE) -- SmallCapVoice.com, Inc. (“SCV”) today announces the availability of a new interview with Verus International, Inc.'s (“Verus” or the “Company”) (OTCQB: VRUS) CEO, who discusses, among other topics, the development of the Company’s business model and 2020 achievements. The full interview can be heard at: https://www.smallcapvoice.com/9-1-20-smallcapvoice-interview-verus-international-vrus/.Speaking with SCV’s Stuart Smith, Anshu Bhatnagar explains Verus International’s business model and focus on being an emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and on a global basis. He details on how Verus is currently expanding on an international level, adding new sports league licensing agreements with the recent addition of the NHL, expanding distribution through new retailers under its existing MLB license agreement, expanding their team with the addition of Andy Dhruv to the newly-created role of President of Verus Foods (Americas), and much more.“I am excited with the tremendous progress the Verus team has made over the last 18 months as we’ve been successful in expanding our geographic footprint, expanding into new industries such as CBD, expanding our professional sports license portfolio, and expanding the depth of our team,” explained Verus CEO Anshu Bhatnagar. “The momentum of these successes has created significant opportunities that we are excited to unlock.”About Verus InternationalVerus is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S. and on a global basis. The Company trades on the OTC market (OTCQB: VRUS). Investors can find real-time quotes and market information for the Company on www.otcmarkets.com. Additional information is also available at the Company’s website, www.verusfoods.com, and via the official Twitter feed @Verus_Foods, the Big League Foods subsidiary Twitter feed @BigLeagueFoods and the Pachyderm Labs subsidiary Twitter feed @PachydermLabs.About SmallCapVoice.comSmallCapVoice.com, Inc. is a recognized corporate investor relations firm, with clients nationwide, known for its ability to help emerging growth companies, small cap and micro-cap stocks build a following among retail and institutional investors. SmallCapVoice.com utilizes its stock newsletter to feature its daily stock picks, podcasts, as well as its clients' financial news releases. SmallCapVoice.com also offers individual investors all the tools they need to make informed decisions about the stocks in which they are interested. Tools like stock charts, stock alerts, and Company Information Sheets can assist with investing in stocks that are traded on the OTC Markets. To learn more about SmallCapVoice.com and its services, please visit https://www.smallcapvoice.com/small-cap-stock-otc-investor-relations-financial-public-relations/Socialize with SmallCapVoice and their clients at;Facebook: https://www.facebook.com/SmallCapVoice/Twitter: https://twitter.com/smallcapvoiceInstagram: https://www.instagram.com/smallcapvoice/Forward-Looking Statements Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties, and assumptions, including the risks and uncertainties, noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing, and general economic risks and uncertainties.SmallCapVoice.com Contact:Stuart T. Smith 512-267-2430 Info@SmallCapVoice.comSource: SmallCapVoice.com