A company that hasn’t made a profit even once in 9 years since going public. The CEO’s salary. The employees’ salaries. All funded by issuing shares. The moment the stock price goes up, they get blinded by money and immediately issue more shares. That is Veritone.
Don’t foolishly rush to buy just because the current price looks cheap. Buy when it gets close to the low $1 range.
Don’t forget that buying above that is a very foolish move!
Or wait until a public offering starts with Ryan Steelberg’s own money directly involved. That’s when the real bottom is.
If you had listened to me, you would’ve made money in this bull market.
Innodata is up 28% today. Come on, cut your losses and buy something else. I bought Super Micro Computer and Rocket Lab. Let’s recover the losses. The only way to survive in the market is to throw trash into the trash can and follow the leaders and the trend. Let’s see whether that idiot Ryan Steelberg actually delivers a proper earnings report tomorrow.
I saw today that you disclosed a change of auditor.
With material weaknesses in internal financial controls and a going-concern uncertainty within one year, why are you firing the person who told the truth?
You should be improving your performance and proving you can stand on your own without accounting issues. Idiot.
Changing the auditor just looks like you're trying to gloss over and hide the bad stuff.
I'm a business owner too, so let me say this — a CEO who can't even generate more profit than I do.
If I were you, I wouldn’t be thinking about raising money through another stock offering. I’d bet my entire net worth, pay off the debt, and run the business properly.
Then the stock price would go up, right? Even then, don’t do an offering. Keep running and show momentum. And when the stock gets to tens of dollars, then do a big offering.
Don’t look at just the tree — look at the forest. Think big.
But you're foolish, so I expect you’ll end up doing an offering at a very cheap price.
This isn’t even a real company. Don’t go around saying you run a business. That’s embarrassing.
— Final message —
Is anything I said false?
They delayed their earnings release, so they have no credibility.
They even restated their financial statements, so their financials can’t be trusted either.
If you watch a few interviews with the CEO, Ryan Steelberg, he exaggerates like crazy, but in reality the company is on the brink of collapse.
After burning cash for a few more months, they’ll probably issue new shares soon. I expect it within about 3 months.
The “hyperscaler” talk is just vague pie-in-the-sky stuff. There is no actual contract.
Oracle? They’re just using Oracle servers. They’re only getting some discount through credits. A partnership with Oracle? Hmm...
Prove me wrong, you idiots. Don’t just hope the stock goes up when you know nothing. Fact-check it, you dumb fools. New investors, be careful.
I’m invested in this company too, but there are much better stocks out there.
Just buy SOXL. I’m up 300% on SOXL. Only this trash Veritone is losing money — in this bull market!!
If you knew that they couldn’t release their earnings on time and even had to revise last year’s revenue downward by $2.5 million, you’d realize this is not a company you should invest in.
A company that can’t even generate net profit and won’t be able to repay its debt in November, so it will have to issue new shares. I’d estimate about three months. Fine, let’s say all of that is acceptable.
But at the very least, they should have been able to announce their earnings on schedule like everyone else.
A foolish CEO who delayed it by two weeks, then another two weeks. If they had just released it earlier, the stock price wouldn’t have crashed this badly. Don’t make a foolish decision.
I think they’ll probably do another offering within the next three months. Hope you guys get out before that happens, bros.
This latest 8-K basically shows that Veritone can no longer be trusted financially.
They’re running out of cash, still losing money, and they don’t even have enough to repay the convertible notes due around November.
At this rate, they’ll likely run out of cash before then.
A loan? No. Looks like an offering is coming.