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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):   April 25, 2024

 

Verb Technology Company, Inc.
(Exact Name of Registrant as Specified in Charter)

 

Nevada   001-38834   90-1118043
(State or Other Jurisdiction   (Commission   (IRS Employer
of Incorporation)   File Number)   Identification No.)

 

3024 Sierra Juniper Court

Las Vegas, Nevada

  89138
(Address of Principal Executive Offices)   (Zip Code)

 

Registrant’s Telephone Number, Including Area Code:   (855) 250-2300

 

 
(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0001   VERB   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 8.01 Other Events.

 

This current report on Form 8-K is being filed by Verb Technology Company, Inc. (the “Company”) to make publicly available its unaudited balance sheet as of March 31, 2024, which is attached hereto as Exhibit 99.1. Subsequent to the period covered and reported in the Company’s annual report on Form 10-K, the Company’s stockholders’ equity increased to $14,001,000. Accordingly, the Company believes it qualifies for an additional extension of 180 days to regain compliance with Nasdaq $1.00 Minimum Bid Price Listing Rule 5550(a)(2).

 

ITEM 9.01 EXHIBITS.

 

(d) Exhibits

 

Exhibit No.   Description
     
99.1   Unaudited Balance Sheet as of March 31, 2024.
104   Cover Page Interactive Data File (embedded as Inline XBRL document and contained in Exhibit 101).

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: April 25, 2024 VERB TECHNOLOGY COMPANY, INC.
   
  By: /s/ Rory J. Cutaia
  Name: Rory J. Cutaia
  Title: President and Chief Executive Officer

 

 

EX-99.1 2 ex99-1.htm

 

Exhibit 99.1

 

VERB TECHNOLOGY COMPANY, INC.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET

(in thousands, except share and per share data)

 

    March 31, 2024
ASSETS        
         
Current assets        
Cash   $ 14,182  
Prepaid expenses and other current assets     313  
Total current assets     14,495  
         
Capitalized software development costs, net     3,741  
ERC receivable     1,528  
Property and equipment, net     60  
Operating lease right-of-use assets     208  
Intangible assets, net     135  
Other non-current assets     259  
         
Total assets   $ 20,426  
         
LIABILITIES AND STOCKHOLDERS’ EQUITY        
         
Current liabilities        
Accounts payable   $ 1,083  
Accrued expenses     3,015  
Accrued officers’ compensation     901  
Notes payable, current     1,024  
Preferred dividends payable     75  
Operating lease liabilities, current     70  
         
Total current liabilities     6,168  
         
Long-term liabilities        
Notes payable, non-current     113  
Operating lease liabilities, non-current     144  
Total liabilities     6,425  
         
Commitments and contingencies        
         
Stockholders’ equity        
Series C Preferred Stock, $0.0001 par value, 5,000 shares authorized, 3,000 shares issued and outstanding as of March 31, 2024     2,980  
Class A units, 3 shares issued and authorized as of March 31, 2024     -    
Common stock, $0.0001 par value, 400,000,000 shares authorized, 79,300,788 shares issued and outstanding as of March 31, 2024     8  
Additional paid-in capital     190,155  
Accumulated deficit     (179,142 )
         
Total stockholders’ equity     14,001  
         
Total liabilities and stockholders’ equity   $ 20,426