It is almost exactly the same as 2009. Went dark in September and never heard from them again other than a last filing demanded by the SEC for the period ending June 2009. Coincidentally that last report and the last MRIB filed as a reporting company lists payments to Margrit of over $2.8 million is cash and stock not to mention another half a million for a severance plan. Interesting because she didn't work for the company for 10 months out of those 12 months.
Another interesting line item was $1.8 million for advertising. Anyone ever remember seeing any evidence of advertising? $1.8 million worth? I think not but dollars to donuts an affiliate vendor got paid for doing nothing. Zodiac or NovaNet most likely. Bottom line is a boatload of money went out of the company for a lot of mystery services and MRIB bought off having to file those financials for months with letter after letter to the SEC stalling to meet their demands. Numbers I'm sure Margrit didn't want investors to see to keep the stock trading as long as possible. I'd say the same thing is happening again now.
And remember that Margrit got $1 million in stock that would have cleared safe harbor and could be made free trading just days after the last financials we've been given. I wonder if Margrit got a nice $1 million chunk in addition to all other stock and cash compensation. Only that late and missing report will tell us. But it sure looks like Margrit has made a ton of cash from MRIB. I count no less than $8 million and for value of nothing more than her services as CEO for less than two active years. For those so adamantly stating Margrit and others are not and have not been lining their pockets perhaps there's an explanation for where all this cash went? It's starting to become very clear how a $30 million deficit came about with just a whole lot of undeserved compensation and a ton of fabricated expenses.
One side note on that last official report in 2010. For the Wine Plant of Eraskh Kool aid drinkers, there is an agreement in the report giving MRIB a right of first refusal for all business of Wine Plant outside of their exclusive territories. If we are to believe the recently created web site for Wine Plant, 47 years in business, multiple lines of products and 160 employees and the amount of business and sales that would represent why would MRIB not exercise their right and scoop up all that business for the same cost of selling $2500 worth of Marani in the US only? Makes no sense, does it? It makes sense if there is no plant, no products, no sales outside the U.S. and exists only in name for appearance and believability just like a previous generic trumped up letter of intent from MRIB to buy the plant.
