Friday, September 04, 2015 11:39:16 AM
So I'm wondering how MRIB could record $300K in paid expenses when there was only $71,500 accounted for? As for the $34,000 in net sales, we can forget about that because they whacked up A/R by $50,000. So where did the other $228,500 come from to pay those expenses?
Let's assume the obvious. Margrit went out and did some more last minute desperation deals for cash. At current PPS that would represent almost 800 million shares in convertibles. Now all the discussion in the report about Bodie and compliance makes more sense. MRIB is in big trouble on shares. If maxed out before Bodie even rolls along the stock will be diluted already and MRIB will be looking at a need for billions of more shares.
I think Verax is correct. I don't see any way MRIB can avoid doing a reverse split. Unless someone can figure out some other way Margrit pulled almost a quarter million dollars out of her arse it's all pointing in one very bad direction.
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