Verus International Continues Ascent

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Verus International Inc is an exciting stock that has seen a fast rise in recent months from triple zero lows to recent highs well over $0.03 per share quickly attracting a fast growing shareholder base that has been bidding VRUS higher.

Verus International Inc (OTCMKTS: VRUS) 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. 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.

Verus Foods 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.

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Earlier this year VRUS acquired Big League Foods, Inc. which has a license with Major League Baseball Properties, Inc. to sell MLB-branded frozen dessert products and confections. The license covers all 30 MLB teams. The Company recently announced four ice cream flavors for its initial shipments of pint containers to retailers. The first flavors will be: Bases Loaded – premium vanilla ice cream with thick swirls of caramel and quality chocolate pieces; Double Play – premium vanilla ice cream with chocolate chip cookie dough and brownie pieces; Grand Slam Sundae – premium chocolate ice cream with mini marshmallows, caramel swirl, fudge brownie pieces and almonds; and Vanilla “Beaned” – premium vanilla ice cream with specks of vanilla bean. These flavors will initially be branded under the Chicago Cubs, Boston Red Sox, New York Yankees and Philadelphia Phillies logos in their respective markets.

Verus also signed a new distribution agreement to place Major League Baseball (MLB) branded confectionary products into approximately 2,500 locations in the New York (Yankees), Boston (Red Sox), Philadelphia (Phillies) and Chicago (Cubs) metro markets.

Verus secured $1.45 million in funding, placing notes with two separate institutional-quality shareholders; individuals who had already invested in Verus through prior purchases. Verus also retired all of the variable rate convertible notes held by four separate creditors. This action is particularly important because it will enable Verus to remove a sizeable reserve from its balance sheet and avoid paying millions of dollars in penalties and other charges. As part of this multi-party agreement, the Company’s other key note-holder, Donald Monaco, has agreed to extend his $530,000 note for an additional nine months, with no significant change in terms. These actions are now completed and signed off by all parties, giving the Company full releases from all prior note holder provisions.

2 weeks ago Verus reported financial results for its fiscal 2019 second quarter ended April 30, 2019. Revenue set an all-time record of $2.9 million in Q2/19, an increase of 153% over the $1.2M reported in Q2/18. Net income reflected a profit of $2.2 million, primarily driven by the reversal of certain charges booked in the prior quarter related to the settlement of certain convertible notes payable and a gain realized on the extinguishment of certain other convertible notes payable during the quarter, both of which are beneficial to the Company’s current capitalization strategy.

Verus CEO Anshu Bhatnagar stated:

“The Q2/19 results provide more evidence that our growth cycle had already begun, even before our recent growth initiatives. We acquired Big League Foods in the last week of Q2/19 and our latest capital infusions were signed after the quarter end. Q2/19 should be viewed as a strong launch pad for even better growth in the second half of 2019. If you back out the non-cash stock-based compensation charges, we would have posted an operating profit in the quarter. So, we are right where we want to be as we begin our true growth phase.”

According to a recent updated released concurrent with financial results reported for its fiscal 2019 second quarter ended April 30, 2019, Verus stated it has its largest funded backlog in Company history, currently in excess of $30 million for delivery in the 12 months following commencement of initial shipping schedules. Estimated unfunded backlog continues to exceed the funded backlog, leaving room for significant future organic growth.

Currently trading at a $77 million market valuation VRUS has been working hard behind the scenes, paying down its debt and consolidating it into friendly hands as well as working to complete its 10-K. VRUS is an exciting Company making huge strides in the fast growing global food markets with significant revenues reporting an all-time record of $2.9 million in sales in Q2/19, an increase of 153% over the $1.2M reported in Q2/18.  The Company also recently stated its  aim for an up-listing to a major exchange. As VRUS CEO Anshu Bhatnagar recently stated: I have so many projects at critical phases that I want to get these across the finish line as quickly as possible. I am currently working on M&A new orders, and commercial credit arrangements for new business both oversees and for the first time in the us. Our growth rate will continue to accelerate in each successive quarters as we layer on additional business.

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