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Sunday, November 27, 2022

Looking For Reversal on Verus International Inc (OTCMKTS: VRUS)

Verus International Inc (OTCMKTS: VRUS) is an exciting Company in small caps that has seen a significant drop in recent months and now trades very near its all-time lows. The stock has a significant shareholder base of long suffering longs who deserve a big reversal.

It’s easy to get excited about VRUS if the Company can get a hold of the convertible debt that has decimated the stock in recent months; earlier this year VRUS announced revenue set an all-time record of $6.2 million, an increase of 153% over the $2.4 million reported in Q1 2019. An exciting new division of VRUS is Pachyderm Labs, in the cannabidiol (CBD) space which enters the Verus product family with a fully developed product line, supply chain, distribution channels, inventory, and initial customers. Pachyderm Labs will feature two main brands, “Elephant Hemp” and “U-Try CBD,” and will initially have more than 12 different SKU’s with multiple flavor and aroma variations, covering health-enhancing oils, creams, lotions and other CBD-infused edibles.

Verus International Inc (OTCMKTS: VRUS) is a global, emerging multi-line consumer packaged goods (CPG) company developing branded product lines in the U.S., South America, and the Middle East. The Company is an international supplier of consumer products, which it markets under Verus-owned brands to multiple sales outlets. Verus’ initial focus is on frozen foods, particularly meat, poultry, seafood, vegetables, and French fries. Verus has a significant regional presence in the Middle East and North Africa (MENA) and sub-Saharan Africa (excluding Office of Foreign Assets Control (OFAC)-restricted nations), with deep roots in the Gulf Cooperation Council (GCC) countries.

An exciting new division of VRUS is  Pachyderm Labs, which will target the consumer cannabidiol (CBD) products market operating out of the Company’s Houston, Texas location. Pachyderm Labs has been a stealth initiative under development for nearly a year, so it enters the Verus product family with a fully developed product line, supply chain, distribution channels, inventory, and initial customers. Pachyderm Labs will feature two main brands, “Elephant Hemp” and “U-Try CBD,” and will initially have more than 12 different SKU’s with multiple flavor and aroma variations, covering health-enhancing oils, creams, lotions and other CBD-infused edibles. The brands have been designed for both CBD-oriented retailers and mass retailers such as drug stores and convenience stores.

“We have been working on this division for many months and wanted to have it ready for launch before we unveiled our new line,” explained Verus CEO Anshu Bhatnagar. “We just received our first shipment of approximately $500,000 worth of finished product and have approximately $1.2 million in initial orders, so Pachyderm Labs will quickly begin to contribute to Verus’ revenue. We are currently in talks with corporate partners and retail chains, so we believe Pachyderm Labs will be one of our fastest growing divisions in 2020. The entry into this non-food category fulfills our desire to add health-oriented lines that carry high margins, but are still within the consumer products space.”

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VRUS

Microcapdaily has reported on VRUS several times before; the first being June 2018 when we reported: Verus International Inc (OTCMKTS: VRUS) has seen a fast rise over the past months from lows last year of $0.0009 to recent highs of $0.02. The stock has quickly attracted a fast growing shareholder base that continues to bid VRUS higher. VRUS has made huge strides in the fast growing global food markets. The Company has opened cold storage and logistics facilities in Dubai, added UAE and Singapore subsidiaries and signed a major distribution agreement for Disney branded juices in the UAE and Oman.

Earlier this year VRUS announced record revenues reporting results for its first fiscal quarter ended January 31, 2020.  Revenue set an all-time record of $6.2 million, an increase of 153% over the $2.4 million reported in Q1 2019.

While the Company continues to operate at a loss gross profit margins improved 18.4% Verus CEO Anshu Bhatnagar commented: “Our best line items in the quarter were our record revenue, a return to a higher triple digit revenue growth rate, and our improving margins. We are currently in the process of addressing our non-cash charges and are working on a plan to mitigate some of the expense line items that are masking our improved performance. Overall, this quarter reflected the period just before the lockdown during February 2020. We were very lucky to participate in some trade shows, vendor and customer meetings, and complete extensive travel prior to the global travel ban, which helped position us well for the current environment.”

On July 2 VRUS announced it signed an agreement with a financial entity to provide up to $5 million of funding through the periodic sale of equity at a modest 5% discount to market. This agreement provides Verus the ability to access lower cost of capital when needed without creating the potential for significant future dilution. Verus is also renegotiating the terms of its note that was scheduled to mature July 1, 2020 and expects to finalize an amended agreement concerning this note in the near future. The Company is also in active discussions with other note holders to extend or modify the payoff structures of the related convertible notes.

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Currently trading near its all time lows It’s easy to get excited about VRUS if the Company can get a hold of the convertible debt that has decimated the stock in recent months; earlier this year VRUS announced revenue set an all-time record of $6.2 million, an increase of 153% over the $2.4 million reported in Q1 2019. An exciting new division of VRUS is Pachyderm Labs, in the cannabidiol (CBD) space which enters the Verus product family with a fully developed product line, supply chain, distribution channels, inventory, and initial customers. Pachyderm Labs will feature two main brands, “Elephant Hemp” and “U-Try CBD,” and will initially have more than 12 different SKU’s with multiple flavor and aroma variations, covering health-enhancing oils, creams, lotions and other CBD-infused edibles. MicroCapDaily first reported on VRUS in June 2018. We will be updating on VRUS when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with VRUS.

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Disclosure: we hold no position in VRUS either long or short and we have not been compensated for this article.

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