Verus International Inc (OTCMKTS: VRUS) is on a fast rise up the charts on accelerating volume after a brief dip below the $0.01 mark. VRUS is a fast runner skyrocketing last year from $0.0016 lows to highs of $0.037. VRUS has a significant shareholder base behind it looking for VRUS to retake and surpass the $0.037 mark.
The latest move on VRUS comes after the Company announced it has received initial candy orders from new distributors, sporting goods and national chain customers. These orders mark a major milestone for the Company’s Big League Foods subsidiary, representing the first sales featuring newly enhanced packaging and custom candy pieces in the shape of bats, gloves, hats, and baseballs. Verus will now have products covering all 30 Major League Baseball teams, with the potential to have a presence in every major U.S. market by mid-2020. Previously VRUS has stated its MLB business will be its fastest growing segment in the first half of the year. According to management: “Despite some recent delays, we are standing by our projection for triple-digit growth during 2020.”
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.
Big league Foods is emering as VRUS most important subsidiary; according to management the MLB business will be its fastest growing segment in the first half of the year. “Despite some recent delays, we are standing by our projection for triple-digit growth during 2020.”
Proud to announce that our last report shows Big League Food candy products in 1000+ different locations! pic.twitter.com/VxLXDx7WJr
— Big League Foods (@BigLeagueFoods) August 29, 2019
VRUS has developed fine food products sourced in the United States-and exported them across the world. A sharp eye on quality, sustainability, and the products customers want, we work very closely with our local and international suppliers to deliver the finest food products at reasonable prices. With a leadership that has over 20 years’ experience building successful partnerships between international brands and local retailers, a rapidly-expanding manufacturing operations platform, and growing brand recognition, we are gaining a reputation as a rising force in the global Food Industry.
Verus is doing significant sales! in September the Company announced financial results for its fiscal 2019, third quarter ended July 31, 2019. In conjunction with this release, the Company is also providing additional details on its strategy for the remainder of fiscal 2019. Revenue set an all-time record of $3.48 million in Q3/19, an increase of 154% over the $1.37 million reported in Q3/18. Net income for the nine months ended July 31, 2019 was approximately $469,000, a significant improvement over a net loss of $1.5 million reported for the nine months ended July 31, 2018.
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Verus made an important acquisition last year when they acquired Big League Foods, Inc. which has a license with Major League Baseball Properties, Inc. (“MLB”) to sell MLB-branded frozen dessert products and confections. The license covers all 30 MLB teams. Big League Foods become a subsidiary of VRUS with an initial ice cream product line which includes grocery store-type packaging in 1.5 quart and pint container sizes, in addition to novelty “grab-and-go” size ice cream in cone, bar, and sandwich versions. The confections product line will include gummi and chocolate candies. Products will feature “home team” packaging to match the fan base in each region. More than 2,500 retail locations, including large national and regional retailers, have agreed to stock these MLB-branded products in their freezer cases. VRUS management recently stated the MLB is its fastest selling line.
In December VRUS announced it is completing a 10,000 square foot manufacturing facility located in Houston, Texas. The facility will operate as a Verus subsidiary under the name “Success Labs,” and has been designed to provide flexibility to manufacture and package a variety of wet and dry consumer goods. The facility’s initial focus will be gummi and nutraceutical products, followed by other to-be-announced products.
Recently VRUS said its bulk shipment of gummies has arrived from its supplier in Spain, so packaging and shipping can begin. This will put us ahead of schedule for our goal to have all 30 Major League Baseball (“MLB”) teams represented on a national scale. As our first national retail customer can’t be revealed just yet, we are excited to share that it is one of the 25 largest retailers in the world. Gaining shelf space at top tier customers helps enhance our sales efforts, so we are looking forward to seeing our new product packaging and gummy shapes on shelves throughout the U.S.
On the recent MLB orders, VRUS CEO Anshu Bhatnagar stated: “This surge in orders tells us one thing – our newly designed MLB products are resonating with chain store buyers looking for something different for 2020. To attract the attention of TJX, one of the largest retailers in the world, is very encouraging this early in our sales cycle. We are currently in very active talks with more than a dozen additional chains and expect to add grocery, specialty, and drug store customers during the course of the MLB season, giving us a presence in multiple retailer categories.”
As promised, we are providing a weekly update on our audit. To expedite the process, we are running concurrent audits for our 2019 10-K and our Q1 Fiscal 2020 10-Q, so both audits will be completed around the same time. We have been making excellent progress.
— Verus Foods, Inc (@Verus_Foods) March 5, 2020
It would be a game changer if VRUS gets their filings in order: in a recent update VRUS stated: “the current financial audit is progressing well, with the current plan of filing the delayed Fiscal 2019 Form 10-K by the end of March 2020, followed closely by the 1Q Fiscal 2020 Form 10-Q. Subsequent to regaining current status, the Company expects to finalize new commercial sources of funding to support the growing pipeline of orders.”
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Currently trading at a $36 million market valuation VRUS has manageable debt and significant fast growing revenues reporting all time high revenues of $3.48 million in Q3/19, an increase of 154% over the $1.37 million reported in Q3/18. VRUS is also making money. net income for the nine months ended July 31, 2019 was approximately $469,000, a significant improvement over a net loss of $1.5 million reported for the nine months ended July 31, 2018. VRUS is an exciting story developing in small caps; the Company is making huge strides in the fast growing global food markets and continues to take serious steps in order to list on a major exchange. VRUS also just received initial candy orders from new distributors, sporting goods and national chain customers for its Big League Foods subsidiary, representing the first sales featuring newly enhanced packaging and custom candy pieces in the shape of bats, gloves, hats, and baseballs. Verus will now have products covering all 30 Major League Baseball teams, with the potential to have a presence in every major U.S. market by mid-2020. Previously VRUS has stated its MLB business will be its fastest growing segment in the first half of the year. 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.