Verb Technology Company, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Verb Technology Company, Inc. has filed its Q1 2024 10-Q report, detailing financial activities and corporate information.</b>

AI Summary

Verb Technology Company, Inc. (TONX) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Verb Technology Company, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located at 3024 Sierra Juniper Court, Las Vegas, NV. Verb Technology Company, Inc. was formerly known as nFusz, Inc., BBOOTH, INC., and Global System Designs, Inc. The filing includes information on common stock, preferred stock, and warrants.

Why It Matters

For investors and stakeholders tracking Verb Technology Company, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and operational updates for Verb Technology Company, Inc. Understanding the details within this report is crucial for assessing the company's current financial health and future prospects.

Risk Assessment

Risk Level: medium — Verb Technology Company, Inc. shows moderate risk based on this filing. The company has a history of name changes and operates in the personal services sector, indicating potential for evolving business models and market positioning.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to understand Verb Technology Company's current financial standing and strategic direction.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q Filing)
• 2024-05-10 — Filing Date (10-Q Filing)
• 2024-01-01 — Quarter Start Date (10-Q Filing)

Key Players & Entities

• Verb Technology Company, Inc. (company) — Filer
• 3024 Sierra Juniper Court, Las Vegas, NV (location) — Business Address
• nFusz, Inc. (company) — Former Company Name
• BBOOTH, INC. (company) — Former Company Name
• Global System Designs, Inc. (company) — Former Company Name

FAQ

Industry Context

Verb Technology Company, Inc. operates within the Services-Personal Services industry (SIC code 7200). This sector encompasses a wide range of businesses focused on providing services directly to individuals.

Regulatory Implications

As a publicly traded company in the United States, Verb Technology Company, Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for Q1 2024.
2. Review any disclosed risk factors or management discussion and analysis (MD&A) for insights into operational challenges and strategies.
3. Check for any significant events or disclosures related to stock, warrants, or debt in the footnotes.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-10: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024. Previous filings would include the 10-K for fiscal year 2023 and prior 10-Q reports.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value Common Stock Purchase Warra

Filing Documents

• form10-q.htm (10-Q) — 854KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-018691.txt (&nbsp;) — 5421KB
• verb-20240331.xsd (EX-101.SCH) — 43KB
• verb-20240331_cal.xml (EX-101.CAL) — 61KB
• verb-20240331_def.xml (EX-101.DEF) — 215KB
• verb-20240331_lab.xml (EX-101.LAB) — 383KB
• verb-20240331_pre.xml (EX-101.PRE) — 314KB
• form10-q_htm.xml (XML) — 752KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 4

- FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1 - FINANCIAL STATEMENTS (UNAUDITED) 4

- MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 24

- QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3 - QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 32

- CONTROLS AND PROCEDURES

ITEM 4 - CONTROLS AND PROCEDURES 33

- OTHER INFORMATION

PART II - OTHER INFORMATION 34

- LEGAL PROCEEDINGS

ITEM 1 - LEGAL PROCEEDINGS 34

- RISK FACTORS

ITEM 1A - RISK FACTORS 34

- UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2 - UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 34

- DEFAULTS UPON SENIOR SECURITIES

ITEM 3 - DEFAULTS UPON SENIOR SECURITIES 34

- MINE SAFETY DISCLOSURES

ITEM 4 - MINE SAFETY DISCLOSURES 34

- OTHER INFORMATION

ITEM 5 - OTHER INFORMATION 34

- EXHIBITS

ITEM 6 - EXHIBITS 34

SIGNATURES

SIGNATURES 36 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q for the three months ended March 31, 2024 (this "Quarterly 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 grow and compete in the future, and to execute our business strategy; our ability to maintain and expand our customer base and to convince our customers to increase t

Business

Business References in this document to the "Company," "Verb," "we," "us," or "our" are intended to mean Verb Technology Company, Inc., individually, or as the context requires, collectively with its subsidiaries on a consolidated basis. On October 18, 2021, the Company established verbMarketplace, LLC dba MARKET.live, a Nevada limited liability company. verbMarketplace LLC is a wholly owned subsidiary of the Company established for the MARKET.live platform. Through June 13, 2023, the Company was a Software-as-a-Service ("SaaS") applications platform developer that offered a SaaS platform for the direct sales industry comprised of a suite of interactive video-based sales enablement business software products marketed on a subscription basis, (the "SaaS Assets"). On June 13, 2023, the Company disposed of all of its operating SaaS Assets pursuant to an asset purchase agreement in consideration of the sum of $ 6,500 , $ 4,750 of which was paid in cash by the buyer at the closing of the transaction. Additional payments of $ 1,750 will be paid by the buyer if certain profitability and revenue targets are met within the next two years as set forth more particularly in the asset purchase agreement. The sale of the SaaS Assets was undertaken to allow the Company to focus its resources on MARKET.live, the Company's multi-vendor, multi-presenter, livestream social shopping platform, that combines ecommerce and entertainment. The Company expects that its burgeoning MARKET.live business unit will, over time, create greater shareholder value than could have been created through the continued operation of its SaaS Assets. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. As of March 31, 2024, the Company had cash of $ 14,182 . Equity financing: During December 2023, the Company ent

View Full Filing

View this 10-Q filing on SEC EDGAR