M&A - Verb Technology Company, Inc.
Form Type: 10-Q
Filing Date: 2025-05-13
Corporate Action: Acquisition
Type: Update
Accession Number: 000164117225009842
Filing Summary: This Quarterly Report on Form 10-Q covers the period ended March 31, 2025, for Verb Technology Company, Inc. The company reported revenue of $1,305,000, significantly up from $7,000 in the same quarter of the previous year. However, it also registered an operating loss of $2,659,000, which is an improvement compared to the prior year’s loss of $3,217,000. Major contributing factors include a significant increase in general and administrative expenses. Notably, on April 17, 2025, Verb announced the acquisition of LyveCom, an AI-driven video commerce platform, aimed at enhancing its MARKET.live service. The integration of LyveCom's technology is expected to provide businesses with enhanced omnichannel shopping experiences and better customer data control. The financial statements indicate a net loss attributable to Verb Technology Company, Inc. of $2,564,000, with a basic loss per share of $2.51. As of May 8, 2025, the company had 1,417,955 shares of common stock outstanding, an increase from the previous quarter. The document also outlines risk factors and forward-looking statements pertaining to the company’s operational strategy and market conditions.
Additional details:
Item Name: revenue
Item Value: 1,305
Item Name: operating_loss
Item Value: 2,659
Item Name: net_loss
Item Value: 2,564
Item Name: loss_per_share
Item Value: 2.51
Item Name: common_shares_outstanding
Item Value: 1,417,955
Form Type: 8-K
Filing Date: 2025-04-17
Corporate Action: Acquisition
Type: New
Accession Number: 000164117225005161
Filing Summary: On February 28, 2025, Verb Technology Company, Inc. entered into a Binding Term Sheet to acquire all outstanding capital stock of Lyvecom, Inc. On April 11, 2025, this led to a definitive Stock Purchase Agreement being signed, closing the Acquisition on the same date. The total purchase price was $3,000,000 in cash, the repayment of $1,125,000 in Simple Agreement for Future Equity (S.A.F.E.) instruments, a $100,000 payment to satisfy an existing loan, and the issuance of 184,812 restricted shares worth $1,000,000 at the time of closing. An earn-out payment of up to an additional $3,000,000 is possible based on performance metrics over a 24-month period. Lyvecom is identified as an AI-driven video commerce platform. Following the closing, on April 17, 2025, the Company announced the completion of the Acquisition through a press release, further detailing the deal and related financial disclosures.
Additional details:
Item Description: Binding Term Sheet for acquisition
Item Date: 2025-02-28
Item Description: Stock Purchase Agreement for acquisition
Item Date: 2025-04-11
Item Description: Total purchase price for acquisition
Item Value: $3,000,000
Item Description: Repayment to investors in S.A.F.E. instruments
Item Value: $1,125,000
Item Description: Payment to satisfy existing loan
Item Value: $100,000
Item Description: Restricted shares issued
Item Quantity: 184,812
Item Value: $1,000,000
Item Description: Earn-out payment potential
Item Value: up to $3,000,000 over 24 months
Item Description: Date of acquisition closing
Item Date: 2025-04-11
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