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Re: EZirish post# 96705

Tuesday, 10/21/2014 11:08:36 PM

Tuesday, October 21, 2014 11:08:36 PM

Post# of 123646

Fins show big improvement.



No, and this was probably why they were delayed because if they thought it was an improvement you can bet they would have released them asap. Anyhow, and unless I'm missing something, these fins are actually HORRENDOUS!! Okay, yes, the $10,863 in revenue is an improvement over 2013 but it's misleading because it cost them $4,890 for the product itself which left them with just $5,972 for their Gross Profit. They are making only around 50% of the cost of the vodka and that's not a good markup!! frown And, of course, out of that 50% comes everything else. Heck, they would need to sell 100 times what they did this just to pay the family's salaries!! So, since they can't, or haven't as yet, they start manipulating their stock instead.

And what about the $657,440 "Loss for the period" (2014) compared to $129,765 for 2013??!! To me, it shows that things are getting WORSE not BETTER and which seems to also show that this company is surviving on the dreams of shareholders but not on reality. And what about the huge increase in DEBT?? (As previous mentioned in another post):

NOTE 3- GOING CONCERN

The accompanying financial statements have been prepared on a going concern basis which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the financial statements, during the years ended June 30, 2014 and June 30, 2013 the Company incurred losses of $638,190 and $129,765 for the years then ended. The Company's accumulated deficit was $26,760,154 and $26,053,053 as of June 30, 2014 and June 30, 2013, respectively. If the Company is unable to generate profits and is unable to continue to obtain financing for its working capital requirements, it may have to curtail its business sharply or cease business altogether. These factors raise substantial doubt about the Company’s ability to continue as a going concern.



Personally, I can't see any way to positively spin this. But at least the bad news can't be blamed on people shorting MRIB. And this also seems to show the advantages of a PUBLIC company as opposed to a PRIVATE one. That is, a PRIVATE company would have to go bankrupt with these kind of HORRENDOUS numbers but a PUBLIC company can keep selling shares of their stock and stay in business as long as some folks are continually willing to buy them. (And lo and behold they did just increase the A/S. Imagine that!)

JMOs

GLTA!