Verb Technology Company, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Verb Technology Company, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and corporate information.</b>

AI Summary

Verb Technology Company, Inc. (TONX) filed a Annual Report (10-K) with the SEC on April 1, 2024. Verb Technology Company, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The company was formerly known as nFusz, Inc., BBOOTH, INC., and Global System Designs, Inc. The filing covers the period from January 1, 2023, to December 31, 2023. Key dates mentioned include June 13, 2023, and January 24, 2023, related to specific events. The company's principal business address is in Las Vegas, Nevada.

Why It Matters

For investors and stakeholders tracking Verb Technology Company, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Verb Technology Company's financial health, operational status, and strategic direction for the fiscal year 2023. Investors and stakeholders can use this report to assess the company's past performance, understand its current financial position, and evaluate future prospects.

Risk Assessment

Risk Level: low — Verb Technology Company, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial or operational disclosures that would alter the risk profile based on the provided metadata.

Analyst Insight

Review the full 10-K filing for detailed financial statements, risk factors, and management discussion to understand Verb Technology Company's performance and outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-04-01 — Filing Date (Date of submission)
• 7200 — SIC Code (Services-Personal Services)

Key Players & Entities

• Verb Technology Company, Inc. (company) — Filer name
• nFusz, Inc. (company) — Former company name
• BBOOTH, INC. (company) — Former company name
• Global System Designs, Inc. (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-01 (date) — Filing date
• Las Vegas, Nevada (location) — Business address

FAQ

Industry Context

The company operates within the Services-Personal Services sector, as indicated by its SIC code 7200.

Regulatory Implications

The filing is made in accordance with the Securities Exchange Act of 1934, requiring public companies to submit annual reports.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-K for revenue, net income, and balance sheet figures.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing Verb Technology Company.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for insights into business performance and strategy.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially submitted to the SEC.
• 2023-06-13: Event Date — A specific event date mentioned in the filing metadata.
• 2023-01-24: Event Date — A specific event date mentioned in the filing metadata.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing; comparison to prior filings would require access to those documents.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value VERB The Nasdaq Stock Mar
• $6.5 m — greement for aggregate consideration of $6.5 million, $4.75 million of which was paid
• $4.75 million — ggregate consideration of $6.5 million, $4.75 million of which was paid in cash by the buyer
• $1.75 million — Additional payments in the aggregate of $1.75 million will be paid by the buyer if certain pr
• $22.0 million — our inception in 2012. Our net loss was $22.0 million for the year ended December 31, 2023, a
• $37.4 million — r the year ended December 31, 2023, and $37.4 million for the year ended December 31, 2022. T

Filing Documents

• form10-k.htm (10-K) — 2541KB
• ex23-1.htm (EX-23.1) — 4KB
• ex23-2.htm (EX-23.2) — 4KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 8KB
• ex97.htm (EX-97.1) — 45KB
• 0001493152-24-012416.txt (&nbsp;) — 10769KB
• verb-20231231.xsd (EX-101.SCH) — 75KB
• verb-20231231_cal.xml (EX-101.CAL) — 87KB
• verb-20231231_def.xml (EX-101.DEF) — 383KB
• verb-20231231_lab.xml (EX-101.LAB) — 624KB
• verb-20231231_pre.xml (EX-101.PRE) — 529KB
• form10-k_htm.xml (XML) — 1522KB

CYBERSECURITY

ITEM 1C. CYBERSECURITY 16 ITEM 2. PROPERTIES 16 ITEM 3. LEGAL PROCEEDINGS 16 ITEM 4. MINE SAFETY DISCLOSURES 16 PART II 16 ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 16 ITEM 6. [RESERVED] 17 ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 17 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28 ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 28 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 28 ITEM 9A. CONTROLS AND PROCEDURES 29 ITEM 9B. OTHER INFORMATION 30 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 30 PART III 30 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 30 ITEM 11. EXECUTIVE COMPENSATION 37

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 49

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 51

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 53 PART IV 54

EXHIBIT AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBIT AND FINANCIAL STATEMENT SCHEDULES 54

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 54 CAUTIONARY NOTE REGARDING Forward-Looking Statements This Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (this "Annual Report") includes "forward-looking Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements are subject to considerable risks and uncertainties. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not statements of historical facts and can be identified by words such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "seeks," "should," "will," "would" or similar expressions and the negatives of those expressions. Forward-looking statements also include the assumptions underlying or relating to such statements. Our forward-looking statements are based on our management's current beliefs, assumptions and expectations about future events and trends, which affect or may affect our business, strategy, operations, financial performance or liquidity. Although we believe these forward-looking statements are based upon reasonable assumptions, they are subject to numerous known and unknown risks and uncertainties and are made in light of information currently available to us. Some of the risks and uncertainties that may impact our forward-looking our incursion of significant net losses and uncertainty whether we will achieve or maintain profitable operations; our ability to continue as a going concern; our ability to grow and compete in the future, and to execute our business strategy; our ability to maintain and expand our cust

View Full Filing

View this 10-K filing on SEC EDGAR