VERB's MARKET.live Livestream Shopping Business Plan Is Now Fully Funded; Company Disclosed That It Had Cash And Cash Equivalents Of ~$14.2M And Notes Payable Of ~$1.2M
Portfolio Pulse from Benzinga Newsdesk
Verb Technology Company, Inc. (NASDAQ:VERB) announced its MARKET.live livestream shopping business plan is fully funded, with a significant increase in cash and a decrease in notes payable. The company's 2023 Form 10-K revealed a cash position of $14.2M and notes payable of $1.2M, marking a substantial improvement from the previous year. This financial stability has removed the 'Going Concern' opinion from its audited financial statements for the first time. VERB's partnerships, including with TikTok, and new technology integrations are expected to drive revenue growth and stockholder returns.
April 02, 2024 | 1:38 pm
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Verb Technology's financial stability has significantly improved, with a fully funded business plan for MARKET.live, increased cash, reduced debt, and strategic partnerships including TikTok.
The announcement of VERB's improved financial position, the elimination of the 'Going Concern' opinion, and strategic partnerships such as with TikTok are likely to positively impact investor confidence and the stock price in the short term. The significant increase in cash and reduction in debt highlight the company's improved financial health, which, coupled with new partnerships and technology integrations, positions VERB for potential revenue growth and enhanced stockholder returns.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100