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RealBiz Media Improves Reporting Infrastructure, Names Interim Chief Financial Officer

(October 12, 2018)

Gaithersburg, MD, Oct. 12, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- RealBiz Media Group, Inc. (RBIZ), currently operating as Verus Foods (the “Company”), today announced that it has named veteran financial professional Chris Cutchens as Interim Chief Financial Officer (CFO). Mr. Cutchens assisted with the most recent quarterly financial filing and is deeply familiar with the Company’s operations through that experience. 

Chris brings more than 20 years of experience in public and private corporate finance. Most recently, Chris served as COO/CFO of MidAmerica Administrative & Retirement Solutions, a private-equity owned, national employee benefit program provider and administrator. Prior to MidAmerica, Chris served as CFO of Aspire Financial Services, a private-equity backed, national retirement plan solutions provider for all tax codes. Prior to Aspire, Chris held various leadership positions: Corporate Controller of Carrier Enterprise, a multi-billion-dollar joint venture between Watsco, Inc. and industry giant Carrier Corporation; Corporate Controller of Watsco, Inc. (NYSE), the largest publicly-traded distributor of air conditioning, heating, and refrigeration equipment and parts in the U.S.; and Director of Corporate Accounting and Financial Reporting of MarineMax, Inc. (NYSE), the largest publicly traded recreational boat retailer in the U.S., when the company achieved a record $1.2 billion in revenue. 

Chris was Tampa Bay Business Journal’s 2015 CFO of the Year of privately held, medium-sized companies in Tampa, Florida. He is a Certified Public Accountant in the state of Florida and holds a BS in Accounting and a MA in Accounting Information Systems from the University of South Florida.

“We are very pleased to have Chris join our team to give us a more consistent presence in managing our accounting and reporting functions,” said Verus CEO Anshu Bhatnagar. “Now that we are about to enter our growth phase, it is time to bring the CFO duties back to the U.S. in order to streamline our efforts. Chris worked on our most recent Q3/2018 financial filing, which was particularly complicated as it included the final consolidated quarter reflecting the NestBuilder spin-off, so he is already embedded with Verus and understands our systems and financials. In addition to his deep experience with public company finances, early in his career Chris was a senior auditor with KMPG, where he worked with multi-billion-dollar retailer Publix Supermarkets, giving him direct experience in the retail environment where Verus operates.”



Filling the CFO position is the first item on a list of pending corporate actions designed to enhance the growth prospects of Verus as it begins to operate as a fully independent entity. The Company will layer on additional resources, both at the executive and operational level, as needed, to support this growth. 

In order to help investors, partners and customers track the company’s product line expansion, Verus intends to post ongoing operational updates, including photos of packaging and in-store displays, on its Twitter feed @Verus_Foods.

About RealBiz Media Group, Inc.

RealBiz Media Group, Inc. consists of two business segments: an international food subsidiary (Verus Foods) that sells products to customers worldwide; and a real estate digital media and technology company. RealBiz Media Group, Inc. (OTCQB: RBIZ) trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com.

Safe Harbor Statement

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements.  All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved.  Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly.  Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission.  Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

CONTACT: ContactsInvestor Contact:MKR Group Inc.Todd Kehrli or Mark Forneyrbiz@mkr-group.com

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