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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Verb Technology Company Inc | NASDAQ:VERB | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0006 | 0.40% | 0.149 | 0.1481 | 0.1498 | 0.151 | 0.1412 | 0.145 | 3,416,718 | 19:40:41 |
Dear Friends and Shareholders,
I wanted to take this opportunity to share my excitement with you as we drive toward the realization of our shared vision for your company – yes - your company – VERB is as much your company as it is ours. I’m referring to the vision that launched a multi-year journey culminating in the development of assets and the commercial release of products that we believe will produce both near-term and long-term value for you, our shareholders, whom we consider our co-owners, as well as for ourselves. Meaningful value. Indeed, virtually all of us here at VERB are shareholders, and as such, our interests are in complete alignment with yours.
Here’s what I will cover in this update:
In addition, we’ve recently added several product professionals, creating a deeper bench for our product teams, and revamped our entire development team and processes, moving to an agile environment which has not only resulted in a more efficient, effective, rapid, and higher quality development cycle, but also resulted in significant cost savings. These cost savings will help us execute our current plan to reduce our burn and drive aggressively toward cash flow positive status through a reduction in operating expenses quarter over quarter, coupled with higher topline revenue generation.
I’m also happy to report that our shareholder base has expanded dramatically – almost three-fold - from individual retail investors, to a broad array of funds, family offices, and other institutional investors, which now comprise more than 12,500 shareholders.
We have built greater liquidity where we regularly see trade volume average more than 1.8 million shares per day. We attribute this to the greater awareness we’ve generated among the investment community, coupled with the passion and loyalty of our long-term shareholders, without whose support, none of our accomplishments could have been possible.
The senior management team of our Company, including our Board of Directors, believe deeply in the future of our Company and the meaningful value we intend to unlock together. We believe that is evidenced by the fact that none of us has sold a single share of the Company’s stock as well as the fact that much of our compensation is comprised of VERB shares in lieu of cash.
We also recognize that value doesn’t happen overnight, and there will be volatility along the road. But we continue to build assets, develop leading-edge, monetizable technology, invest in accretive acquisitions, and attract and recruit top-tier talent, as our people remain the heart and soul of VERB.
We are now close to 200 strong and we all live and breathe VERB every day, driven by the excitement of what we’re building for you and us, and motivated by the tangible progress that we now see each and every week. In closing, I thank you for your continued trust and support. We’re making this happen – together.
Sincerely,
Rory J. CutaiaChairman & CEOVerb Technology Company, Inc.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “anticipate,” “expect,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements contained in this communication relates to, among other things, the Company's projected financial performance and operating results, including SaaS Recurring Revenue, as well as statements regarding the Company's progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions and performance of SoloFire, Microsoft Outlook integration, and development of verbLIVE. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this communication letter are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.
About VERB
Verb Technology Company, Inc. (Nasdaq: VERB) transforms how businesses attract and engage customers. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and comprises a suite of sales enablement business software products offered on a subscription basis. Its software applications are available in over 60 countries and in more than 48 languages to large enterprise and small business sales teams that need affordable, easy-to-use, and quick-to-get-results sales tools. Available in both mobile and desktop versions, the applications are offered as a fully integrated suite, as well as on a standalone basis, and include verbCRM (Customer Relationship Management application), verbLIVE (Interactive Livestream eCommerce and Video Webinar application), verbTEAMS (a Self On-boarding version of verbCRM with built-in verbLIVE and Salesforce synchronization for small businesses and solo entrepreneurs), and verbLEARN (Learning Management System application). The Company has offices in California and Utah. For more information, please visit: www.verb.tech.
Investor Relations Contact: 888.504.9929 investors@verb.tech Media Contact: 855.250.2300, ext.107 info@verb.tech
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