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Veritone Inc (VERI)

2.76

-0.01

(-0.36%)

Closed January 15 4:00PM

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2.77

0.01

(0.36%)

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Form 4 - Statement of changes in beneficial ownership of securities

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Form 8-K - Current report

Form 8-K - Current report

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GBR

When you go to the support page,

calling it "miscellaneous bug fixes"

https://support.veritone.com/s/article/000006903?language=en_US

GBR

some don't let

you bring them up at all

GBR

Unusual activity on aiWARE

desktop when you log in.

Over 100 notifications so far today and counting concerning aiWARE version 3.61.1.1.1.

But when you click on them, only shows update version 3.60.1.5.3

GBR

Yeah, looks like the only pages working
are Home page, Services, and About page.

If working on it, makes sense to do it on the weekend. Hopefully get some good news out before the Needham conference

KVM

Can't get most pages to link to their page. Maybe revamping those pages

GBR

GBR

Trying to navigate their website right now. Most of what I click on is coming up with this message:

404: Could not find the requested page
.
Let me know if same for you

GBR

Thanks for your reply

So maybe Veritone has some capabilities with unstructured data that can get incorporated within this ecosystem.

Agree, that this would be the way. Since RS took over, they appear to be doing very little to market aiWARE as a standalone platform. And realistically, with Veritone focusing on their verticals and applications, while also choosing in 2023 to spend a large percentage of their cash on Broadbean, They don't even appear to be doing much in the way of investing in aiWARE as a standalone platform. Could even go back to the acquisition of Pandologic to make this case. I guess with respect to aiWARE, they have their underlying patented capabilities. And hope that other platforms license those capabilities. And that BPA that you cited came at around the time that Veritone invested in that Strategic minority investment that they never talk about.

The mystery continues on into 2025. But the good news is we landed Esousa at 2.53, haha.

cpeter7

cpeter7 5 days ago

Idk seems like a possibility: "The first ensures enterprise access to an open, government owned infrastructure with foundational data integrations, mature software deployment tools, and security architecture for government data."

Open DAGIR is connected to CJADC2 https://www.defense.gov/News/Releases/Release/Article/3791829/cdao-announces-new-approach-to-scaling-data-analytics-and-ai-capabilities/

We never got any sort of update on the BPA agreement between the JAIC and Veritone. "Under the terms of the agreement, the JAIC will be able to leverage the Veritone aiWARE platform and key applications for Test & Evaluation (T&E) capabilities to accelerate the government’s full spectrum of emerging AI technologies including Machine Learning (ML), Deep Learning (DL), and Neural Networks (NN)."

However T&E evaluation has been dominated by Scale AI https://scale.com/blog/scale-partners-with-cdao-to-test-and-evaluate-llms
and Anduril Won the data mesh contract https://defensescoop.com/2024/12/03/anduril-awarded-100m-deal-cdao-scale-edge-data-mesh-capabilities-ota/

So maybe Veritone has some capabilities with unstructured data that can get incorporated within this ecosystem. If not then I'm really losing hope.

GBR

Cpeter, have you looked into the CDAO Open DAGIR framework. It is interesting to me, and based on diescription, I could see aiWARE playing a role.

https://www.ai.mil/Initiatives/Open-DAGIR/

KVM

Well apparently nothing to talk about.

GBR

Still have not heard her speak.

KVM

She did repost today's PR. So don't know

KVM

Think Maria Moore is gone. No longer listed or pictured under the Executive team.

KVM

Yep extremely sad. And unfortunately fell for their BS along time ago instead of just staying with the #s. Live and learn

GBR

Cohere, founded in 2019, revenues of 85M, backed by the likes of Cisco, AMD and Fujitsu. Valued at 5.5B

Veritone, founded in 2014, revenues of 93M, backed by the likes of Banta and Esousa. Valued at 130M

lol

GBR

Amazon Bedrock uses models from Cohere.

Veritone supposedly integrated with Bedrock. If so, then assume Veritone has worked with Cohere models.

GBR

Meanwhile, Cohere making news today.

Launching enterprise AI platform via early access program. Looks similar to aiWARE.

Possible Cohere is one of the LLM's Zemetra said partnering with. If not, more aiWARE competition is coming.

https://venturebeat.com/ai/cohere-launches-north-to-redefine-enterprise-ai-with-security-and-customization-at-its-core/

KVM

New Year but same old Veri. Probably didn't even know markets were closed today. No wonder revenues on the decline

beni2020

beni2020 6 days ago

I have gone so far as to beg Ryan to resign or just jump off a bridge. The frat brothers have screwed the shareholders now, for nearly ten years.
I do know they don't lie from first hand knowledge but Chad has put them behind the 8 ball. Its been quite obvious they're not ever going to give up control. Perhaps bc AWS doesn't give a #2 about them and is willing to wait and buy them in a firesale if it happens

KVM

GBR

May not mean anything

beni2020

beni2020 6 days ago

Still positive and simply said I don't like how they do anything..
But Chad is a POS wasted time and resources to appease his enormous ego.
Ryan has a lot of mending to do and now has less time to do it

GBR

On the 13G

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11.
https://www.sec.gov/Archives/edgar/data/1615165/000110465925001079/xslSCHEDULE_13G_X01/primary_doc.xml

Looks like Banta's 13G has the same wording.
https://www.sec.gov/Archives/edgar/data/1426960/000108514625000040/xslSCHEDULE_13G_X01/primary_doc.xml

But if you look at Banta's 13G back from 12/31/2023, they did not have that wording.
https://www.sec.gov/Archives/edgar/data/1426960/000108514624000220/veria9_11824.htm

Rule 240.14a-11 under the Securities Exchange Act of 1934 (often referred to as SEC Rule 14a-11) relates to proxy access, which allows shareholders to nominate directors to a company's board and include those nominations in the company's proxy materials under certain conditions. This rule was introduced as part of the SEC's efforts to enhance shareholder rights and facilitate shareholder participation in the governance of public companies.

KVM

Where did u see that

GBR

I guess Banta and Esousa

on our side is better than nothing.

Looks like Esousa is going to nominate a board member.

KVM

Couple of weeks ago you were positive on them. Now sounds negative. Why the change

KVM

So are u saying everything up to now has been a lie or is there hope

beni2020

beni2020 6 days ago

They're going down with the ship and they know more than all of us combined. Live across the street from Ryan.
I believe the cockamemy Co that bought in has a lot more to lose than any of the big players.. Don't know or like how they do anything but there is something there.. Don't know what or when but time is NOT on there side.

GBR

Yeah, looks like they even added from the beginning of last year.

KVM

Banta owns 3.4 mil shares. They didnt sell.

KVM

Been saying that for years now. Only thing that matters is revenue which BTW has been on the decline.

GBR

Yeah, also

demand exploding. Disruptive growth. Revenue and cost synergies 2nd half of 2024.

Going forward, with RS and Zemetra, have to see it to believe it from this point forward.

KVM

RS also said stock was in high demand. Guess not exactly true.

GBR

They have another Needham conference next week.

The last Needham conference, November 20, RS said he was "aligned with shareholders" and "in tune with dilution".

Now that they are going back to Needham with dilution in hand, maybe he would see fit to have something beneficial announced for shareholders before this conference.

Now that the deal is closed, very telling to me that they had to scrape the bottom of the barrel in investor caliber (Esousa), and no better offers out there. That being said, it seems to me that Veritone wants to remain in control. Esousa limited to 9.99%. Maybe there was other interest out there, but they wanted more controlling terms that Veritone was not interested in. Another issue is that they are spread out with verticals. For example, maybe someone like an Axon would be interested in the public sector vertical, but not the M&E and Hire verticals. An HR tech firm might only be interested in Veritone Hire. So the way Veritone has structured their business, probably makes it difficult to find investors, especially when after 10+ years, aiWARE, which all verticals are based on, is still not on the map.

So based on where they are today, had to go with Esousa. This has changed my perception of Veritone. At the same time, would like to know what Esousa sees in their investment. Looks pretty risky to me, unless Esousa has some other insight not publicly available. But as for aiWARE and also for these larger Fed deals, based on the caliber of investor Veritone landed, I will now believe it when I see it.

But I will reiterate that it was obvious that Veritone had spent a lot of time rallying around AWS since RS took the helm, and the benefits of that did not surface at all in 2024. That is still a wild card, imo.

cpeter7

cpeter7 1 week ago

Ok thank you. Hopefully now clears the way to start making some announcements.

KVM

They filed a 13G so yes.

cpeter7

cpeter7 1 week ago

Did the deal close?

GBR

Now thinking it is
a possibility that Esousa bought Chad's shares, and if this deal closes, then Chad gets his shares back. If it does not close because someone were to come forward with a better offer, then Esousa keeps Chad's shares. Speculation, but think it is reasonable to think there was some enticement or incentive for Esousa to participate in this.

GBR

Yeah, and why announce a 35M ATM offering, which tanked the price, and announce that BEFORE pursuing this registered direct offering.

And Chad's sale right in the middle of all this. Looks like they were pursuing the exact opposite of a road show.

And still say, Chad has a fiduciary responsibility as a Board member. So if the sale was purely for selfish reasons, then the timing was absolutely contrary to responsibility as a Board member. But if the sale was somehow strategic to the company, then understandable.

GBR

Seems to me that their marketing plans at the beginning of the year were all about going to market with AWS. Working with top AWS partners, co-marketing webinars, etc.

Any co-marketing with AWS and/or AWS partners has been non-existent to date, with the exception that there was a public sector webinar with an AWS rep a couple months ago. And even in that webinar, AWS wasn't really pounding the table for Veritone.

But they have this SCA with AWS, and launching consulting business based on AWS. So it could be that the delays are on AWS end.

And the biggest surprising delay with AWS is their postponed plans for the new AI infused Alexa, which was expected in August or September, but now pushed into 2025.

I'm sure that caused a huge missed opportunity for increased sales of Alexa devices this Christmas.

But another coincidence that Veritone was expecting things to ramp in the second half of 2024, and at the same time new Alexa was expected to launch in second half of 2024.

Yes, wild speculation to assume aiWARE has anything to do with Alexa. But Alexa has to do with voice, and also Alexa needs to combine domain specific data with LLM's in order to provide relevant contextual information. So it is not entirely out of the question that AWS could be interested in aiWARE capabilities as part of their Alexa plans.

And one of the things you could probably do with Alexa in the future is apply for, inquire about and even interview for jobs. Could be a possible Veritone Hire integration with Alexa to be able to match job openings with candidate experience.

But agree, all speculation until something tangible appears.

KVM

Still have no idea why no road or pr shows to beef of price. Makes no sense.

KVM

We shall see. I guess if both sold at same time the stock would have surely tanked.

GBR

You are right. Chad exceeds the 9.99% even after the 500K sale. But if Chad did not sell his 500K shares, he would be over the 9.99% on a shared voting and dispositive basis, assuming the Esousa deal goes through. With the Esousa deal, he would now be under the 9.99%.

But what about RS. Why does he stay above. Or is there a pending transaction involving some RS shares.

KVM

Well at this point they have nothing left except to hang their hat on Aiware. It's all or nothing and up to now has been nothing. Would love to know why marketing is such a revolving door.

GBR

I think the overall market for a commercial grade enterprise AI platform is still up for grabs.

Even as Veritone has struggled, revenues declining, balance sheet deteriorating, they still hang their hat on aiWARE. By now, they could have thrown in the towel on aiWARE, and just integrated all their applications onto another AI platform. But appears they continue to be all in with aiWARE.

One would think that a major player would have invested in Veritone by now. Instead, Veritone dealing with the likes of Esousa.

So even though no apparent interest in aiWARE, Veritone still hanging their hat on aiWARE and even willing to go through major dilution to stay alive and keep with the aiWARE plan. And if it is all incompetence, then Esousa must be incompetent as well.

I think there may be interest in aiWARE and Veritone, but looks to me like Veritone wants to remain autonomous. For example, AWS may be interested in aiWARE, but not willing to do a strategic transaction with Veritone unless AWS gets full control. Probably none of these companies like Palantir or C3 would be interested in dealing with Veritone, unless Veritone gets absorbed into their own company. Looks to me like Veritone not willing to do this.

So it is possible that this deal with Esousa, if nothing else, keeps Veritone alive and on a standalone basis for a while. And maybe it keeps them alive long enough for a big player to finally step in and do a deal that keeps Veritone intact. Who knows, but I think the next week or two is going to be interesting.

KVM

What I find strange too is both sales/ purchases were a odd # of shares.

KVM

Yes what a coincidence. And may be Chad sale puts him under the 9.99%.

GBR

Esousa could sell shares, and then exercise warrants in order stay under the 9.99% shares outstanding.

I speculated earlier that Esousa may have bought the 500K shares from Chad. But now don't think so because it would put them over 9.99%.

But interesting to me that Chad's sale at 2.51 aligned so close to the share price concerning the Esousa deal.

KVM

Correct last post the 30 mil in lost inorganic revenues should be on a net basis.

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