dukeb
8 hours ago
I am SUPER excited.
Today is Christmas in July on the Market.live TikTok channel. They have a stated goal of $3,000 of GMV for the multi-hour event. Items selling for up to 90% off. They are pushing trashy jewelry that costs $3 and $5. Around 100 people watching.
They are 2 hours in and they haven't hit the $ 3k of sales yet. Gotta wonder what their gross profit is on $3k of sales.
From the most recent 10-Q
General and administrative expenses including stock compensation expense were $3.0 million for the three months ended March 31, 2024, as compared to $3.6 million for the three months ended March 31, 2023. The decrease of $0.6 million or 16%, in general and administrative expenses including stock compensation expense is primarily due to decreased personnel expense associated with headcount reduction.
Divide $3 million by 90 days in a quarter and you get overhead of $ 40,000 PER CALENDAR DAY.
And the company struggles to sell $ 3,000 of product in a day?
EDIT: The VERB team only works Monday through Friday, so let's say there are 62 working days in a quarter. That is overhead of $ 58,000 per working day.
Ridiculous.
dukeb
1 week ago
Rory is AWOL, but if he were to subject himself to questions from shareholders or stock analysts, a fair question would be: "What business is VERB in?"
I don't think that Rory could come up with a coherent answer to that question. The company is schizophrenic at this point. Market.live is dead and buried. The pivot was supposed to be consulting?? to people who wanted to sell on TikTok (even though Verb/Market itself has demonstrated no ability to sell products...and yet they are experts advising others?) to a 60/90 minute TikTok Live where Gen Z shows dollar store crap and tries to sell it.
There is no business model. Even non-shell companies on the OTC have some sort of plan. But NASDAQ listed Verb doesn't seem to have one.
On March 18, 2024, Verb Technology Company, Inc, a Nevada corporation (the “Company”), entered into subscription agreements with certain institutional investors (the “Agreements”), pursuant to which the Company agreed to issue and sell to the investors 20,851,667 shares (the “Shares”) of Common Stock, par value $0.0001 per share of the Company at a price of $0.24 per share for gross proceeds to the Company of $5,004,400.08.
dukeb
1 week ago
An idiot wrote that. Typical Market.live laziness and sloppiness. How about this:
Event Details:
Date/Time: Friday, July 19, 2024
Location: YouTube Theater, Inglewood, Calif.
Hosts: David Meltzer and Dane Cook
Special Guests: Baron Davis, Marshall Faulk, and more
Hosted by: Rob Riggle
Watch and Shop: Exclusively on MARKET.live (RSVP to get alerts)
Time? What time?
If you go to Market.live and click on "Upcoming Live Events" it reveals that the event is scheduled for 10:45pm (adjusted for my time zone).
If you go to https://www.youtubetheater.com/ the time shows as 7:30pm (Pacific time). The venue says is has a capacity of 6,000 people.
If you click on the BUY TICKETS link it brings you to Ticketmaster web site where the cheapest seats (including fees) are $ 101.45 up to $ 935.25 plus $25 to park.
You can also buy a box for $ 3750 (includes 3 parking passes)
Market announces on Wednesday that there's going to be a super duper audience driven event two days later. Who is going to see that announcement? Anyone signed up to receive VERB news (almost no one) or anyone who visits the Market.live web site (almost no one). People who go to the YouTube Theater web site? LOL.
And who is going to pay $ 100+ to watch this event? No one.
I will tune in if they promise to flip the cameras around to show 5,975 empty seats.
Who wrote this?
jobynimble
1 week ago
“The Collab is more than just a show, it's a unique experience that invites you to laugh, think, and perhaps even change your perspective on success and happiness. Tune in to "The Collab" and be part of a journey that promises to entertain, enlighten, and inspire, making you laugh one minute and reflect the next. Whether you're in for the jokes or the gems of wisdom, Dane Cook and David Meltzer are here to ensure your time is well spent in the most enjoyable way possible.”
Who wrote this?