Summary by Moomoo AI
Verb Technology Company, Inc., a Nevada corporation specializing in Software-as-a-Service (SaaS) applications, has undergone significant changes in its business operations and financial strategies. As of June 13, 2023, Verb sold its SaaS assets to SW Direct Sales LLC for $6.5 million, with $4.75 million paid in cash and an additional $1.75 million contingent on future profitability targets. This strategic move allows Verb to focus on its MARKET.live platform, a multi-vendor, multi-presenter, livestream social shopping platform. Despite this sale, Verb continues to face financial challenges, including a net loss from continuing operations of $11.957 million and cash used in operations of $6.619 million for the nine months ended September 30, 2023. These challenges raise substantial doubt about the company's ability to continue as...Show More