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I wouldn't bet on them being on time. They never have. And they are not going to be good. Lucky if gross sales are $10K. MRIB is a shut down shell and not growing, expanding or even trying to sell. What could the next financials possibly hold?
And MRIB is out of business. No new sales, no employees, no offices and revenues decreasing at a rate of almost 40% per quarter. A fictional deal with Brazil is the only thing keeping MRIB alive. People will start to give up on that "soon", just like when MRIB said they would be shipping. "Soon" is not two years. Anyone continuing to support this obvious $30 million scam is clearly part of it or trying to protect their under water investment.
MRIB. Dark, silent and apparently out of business. Shipped $10K net in Q3, $6K in Q4 and should report around $4K in the next report due if they're lucky looking at the real time inventory numbers from their retailers.
Just winding down the operation. 2009 all over again. Brazil is now a proven fraud and was never going to happen (just like India in 2009), employees sent home months ago and the offices shuttered. Not much left.
No interest in the stock and a lot of flippers who thought they were getting cheapies are left looking for buyers holding the bag. Not working out. No one wants to buy stock in a shut down company with no revenue and no future. MRIB is not even a flip play anymore because there's nothing MRIB can do short of outright lies to bump the price. But everyone is on to them and knows not to believe a word of what they say. Tough to use the increased demand ruse anymore. Financials have already revealed that as an outright lie.
Here's a question. Given there was zero cash on the books as of January 1 and revenues were reported at a net of $2000 a month with no new deals or sales and the loss of eight Costco locations, how did the company pay Q1 expenses? And with such a dire situation you really have to wonder how they could have paid any expenses in Q2. Obvious answer... MRIB is shut down because all the cash is gone. Unless of course it's somehow being funded through stock sales.
The state licenses, the financials, the occasional PR and the obvious feed of information to supporter/promoters and/or even doing it themselves saying "good things coming" is all just part of the minimal inexpensive effort to keep up appearances of an ongoing concern to keep the stock trading and cloak the obvious fact that the company went out of business for the most part many months ago. I also doubt they renewed their licenses in any states other than California and perhaps New York. The theme is always the same. Spend as little as possible and keep on selling shares.
With the financials due on Friday, which I doubt we will see, there is sure to be another hit to the PPS with the filing of an extension or if they are released, the horrible news that sales are approaching zero. Either way it's a lose-lose situation for MRIB. They will probably hold back on the release until they get the old STOP sign on from OTC. Having lost most of their Costco locations and no new retailers added, it's doubtful that MRIB did anything more than half of the last reported quarter of $2000 a month in net sales. It will be very interesting to see what expenses are reported given we know Margrit is now alone with no expenses to speak of.
There's no news coming. MRIB shut down many months ago. Margrit will continue to sell stock for cash as long as she can to any that will still believe this charade, but the company is kaput. Investing in MRIB right now is investing in an insolvent shell.
Forget about the non-existent "naked" shorting...there are far more questionable and unanswered issues facing MRIB that we know did happen as a fact. I keep asking how MRIB issued close to a billion shares since relaunching. How did they get the legends removed from all of those shares? Who was the attorney who opined for exemption and on what basis?
Not as hard as it might seem but this example could be a possibility...
There is no need to borrow shares. MRIB just keeps issuing new shares for pennies on the dollar and has a boatload of zero cost shares floating. Plenty of shares available. If there were no long shares available how do you account for the constant dumping of 90% of any given MRIB daily volume at daily low prices including some historically lowest? Someone has been consistently dumping 2-4 million shares a day on average at daily lows. Those trades were all recorded over the past 90 days and none of them went FTD. Therefore, all were covered settled transactions. Check the SHO reports.
The short conspiracy is a myth used to try and create the false air of an impending short squeeze. Not the case with MRIB. Just a dead defunct company that shut down and although it continues to trade, is in a PPS death spiral with 150 bag holders and one or more zero basis holders converting whatever they have to cash. And by the way, how much money could one make shorting MRIB? It's nothing. Look at the volume. $100 here or there? Someone is going to risk their license, their firm's license and their livelihood trying to illegally wiggle some walking around money out of MRIB? It's absurd. And given the PPS if any such activity was taking place the volume would have to be huge and a relative fraud of enormous proportions along with enormous trade and share imbalances. To have those kinds of numbers go unreported is even more absurd.
I'm sorry Percival but what you're saying cannot be done on an extended basis with a naked short position sitting and waiting for a desired price or zero sum result. This is what you aren't getting. The definition you posted is correct but the trade is still recorded and entered. When it goes FTD it's reported via SHO. MRIB has no listed FTDs therefore all, if any, borrowed MRIB shares were covered in the allotted 13 days specified in the regulations. There is no way to get around a recorded trade going FTD. A broker dealer would be risking their entire business for MRIB and some chump change to try and cover up a FTD. The trade would have to be concealed or hidden on numerous transaction records and it would have to involve the collusion of two or more parties trading on their own accounts as broker dealers. It's just not happening. It's an absurd notion.
And what defines an MRIB trade as an illegal naked short? Do you know? It wouldn't seem so. What you are suggesting is that there are MRIB rates taking place that don't exist with no record on either the buying or selling end. There are no reported FTDs for MRIB and therefore no naked shorts. And if there was no report of a trade anywhere how would the buyer ever collect his shares. Can't sue his broker because the trade doesn't exist and can't sue the seller because the trade was never recorded. What you are saying simply isn't possible and not worth doing.
Also what you are suggesting would require a significant criminal act involving collusion between two or more parties. Do you really think any broker in his right mind would take such risk for the chump change represented by MRIB? The entire market cap of MRIB is less than half a million dollars. There's no money in it, certainly not for the risk you're implying. There are no MRIB shorts my friend.
Well, it's pretty obvious now that the Brazil deal was a total fabrication and ruse. The tell tale was the FINRA document, which no one has ever seen BTW, which was used as a prop to support the existence of a non-existent deal. Why not just publish the details or at least a summary of the deal? I'm sure the contract, if any, was just a dummied up letter of intent, totally unbinding, between NRIB and ass clown Junior Faria in Rio. Like I said, the contract and the FINRA report were just props in a charade which has now played itself out in the form of non-delivery.
Phony documents play a big part in the operation of MRIB. There are many questionable situations surrounding MRIB documentation. There are the attorney letters to OTC attesting to the MRIB submitted information as true and accurate which it wasn't. Why would an attorney take that risk? A common theme in OTC scams if one researches the criminal cases is the use of forged documents from questionable and/or fictional attorneys. Then you have what must be stacks of opinion letters affirming removal of legends from shares. I'd love to see some of those because I can't imagine what would make them exempt from safe harbor. Again, in the past many scams simply used boiler plate opinions, a bottle of white out and a copier. Not saying MRIB did any of this but a lot of it is very questionable and unexplained. Hardly seems kosher. Bottom line is it would seem the vodka, lots of inexpensive paper props and tons of cheap PR made it all possible for MRIB to fool a lot of people...TWICE!
You have proof that the Wine Plant of Eraskh exists? Please do share. No one has been able to put up a shred of evidence to date and MRIB has paid them a ton for product they don't need and cannot sell. Why? And hopefully all is well and Margrit paid the taxes on the $4 million as regular income. The service is a very unpleasant entity to deal with. Point is there are a lot of unanswered MRIB questions with respect to what happened to $30 million. Just like to know where the money went.
As long as Margrit paid taxes on that $4 million she's perfectly fine. And she needs to have paid it on regular income and in that bracket would be a payment to the IRS for about $1.6 million. Let's see if she did. She also had no basis so it's all profit. Hey Margrit, if the IRS collects I get over $300K for turning you in. If you paid you're fine. IF not I bet they'll start digging into Wine Plant of Eraskh, Zodiac Brands, NovaNet and Eco Investments. Lot of revenue there. Hope you paid the taxes.
Well, i filed a complaint under the federal whistle blower act guidelines with both the FBI and IRS last week including a separate personal claim as to the $4 million Margrit was paid in 2009. As long as she paid regular rates for income taxes and properly reported, (it's not a capital gain but regular income), she's fine. If not, she and all her friends are in big trouble. So if you're listening in here Margrit and frieds, know that the authorities are now well aware of how much money you have taken out. Just hope you paid taxes and reported all of the income not to mention any income from foreign corporate ownership.
There's a lot of truth to the thought that anyone promoting MRIB at this point is an insider. I mean it's impossible to promote MRIB as something that's going to "happen". Not in the cards. Saying that there might be some chump change to make trying to flip it here and there is one thing but promoting MRIB as a future multi-million dollar company is absurd. There's nothing there. Tell people you might be able to squeak out some walking around money, as risky as it might be, is part of the "game. But to represent MRIB in any other way has all the markings of other motives like keeping it trading and supporting PPS for continued dumping of shares.
Company is shut down. There will be no financials. They went out of business back in the fall. They filed financials so they could continue dumping shares. Pretty obvious. What kind of company has no employees, sales or offices? Just a shell selling off founders stock.
Here's your MRIB Costco update. Eight stores of fourteen eliminated. Sales down 40%. MRIB offices shut down and closed December 2014. All employees unpaid and let go in October 2014. $600K in notes due June 15. Sales at $2000/month net as of last results. $300K in expenses on those sales. Someone is making money.
How long have we been hearing that? "Good news coming." Yet none ever comes. Gold, no offense but you've been telling us you talk to Margrit and she's been saying that since August. None ever will come.
MRIB is shut down, out of business other than selling shares for the second time on a basis of massive failure. There's no one left. No one running the company. No sales. No clients. No Brazil. Why can't people just face the facts?
Do you think we will get financials next week? What do you think MRIB sold first quarter in all of 20 retail locations? And Total Wine hasn't sold twenty bottles in two quarters! That's 12 of their locations for heaven's sake! $600K in notes come due in June. Where is the money going to come from for any promotion, advertising or marketing for MRIB when they're reporting $2000 a month in net sales? Good Lord man. MRIB obviously can't sell vodka.
Yup. It's that easy. Unfortunately it's also a punishable criminal offense so it involves a serious choice as to how to make money. MRIB seems to have gone the way of the dark side. Between Zodiac, Eco Investments, NovaNet, Wine Plant of Eraskh, et. al., the evidence is pretty substantial. Ordering an excessive amount of product with only $13K in sales for the quarter makes it only too obvious. That's not to mention spending $300K for the quarter on expenses for a company that is definitely shut down.
Got their $1500. Case closed.
Obviously there's a distillery. Just not what MRIB says it is. My theory is it is a shell company controlled by MRIB and/or an affiliate that gets paid way more than they should for the vodka who then contracts someone else to produce the vodka. What is clear is that there is no distillery in the village of Eraskh let alone one that has been there for 47 years with 170 employees and in 14 years has never done business with anyone but MRIB.
Here's how it works if you didn't know. Start a shell company in a foreign company in an impoverished tax free zone. Wire them funds for product far beyond what's needed and at a premium price like $50 a bottle. Go to a contract distiller and pay them $5 a bottle for the order and pay it through the Armenian shell. Take the $45 net per bottle and wire it back in broken up small payments to personal accounts in the US totally under the radar of the IRS. Nice money laundering deal imo.
Given the company is shut down and apparently out of the vodka business for the second time I don't even think they could make a R/S fly. But, they did do it once and Margrit made a bundle if you dig into the old records. Might try it again but it's such a known scam now that it would be difficult other than just the efforts of a small numbers of longs terribly under water on MRIB supporting the scam in hopes of some recovery.
And where has MRIB's consultant on international deals, Zodiac Brands Santiago Doran Ramos, disappeared to? Numerous complaints in NY regarding fraud and a number of police investigations mentioned in Rip-Off report. Turns out all his claimed clients and a-listers are fabrications. And now he's gone dark just like MRIB. Same timing too. Oh, and I forgot, Margrit is listed as a founder and officer of Zodiac Brands. Ain't that interesting.
Maybe they're a couple. I think I just threw up in my mouth a little...
2009. Close to $2 million spent on advertising. Anyone ever see any of that? That goes on top of $4 million to Margrit in personal compensation for six months on the job. Not bad for a community college office manager at numerous failed companies. A certificate in book keeping, not a degree either. But she's got an $8000 handbag on her arm so I guess she's got something right. My wife has a number of them but I know at least I worked for them and didn't steal anything to pay for them. Margrit has $30 million plus to explain.
And Chewie, you have to remember that the trading is so thin that matching trades is not difficult. Just a transaction between zero cost entities. The MRIB longs and bag holders have resigned themselves to hold till end of year. They're not putting in sells at $.0006. So it's just money from the same person moving from one pocket to the other. Commission is the only expense. Price support to keep the dump alive for $17. There are many other tools such as FOK orders too. It's too easy for a zero cost holder to manipulate especially when there are so many simple minds involved with pennies combined with those looking to take advantage of same with highly technical bunk that doesn't apply to a dead company. A fool and his money...
It's quite obvious why someone would paint up the PPS in the middle of a trading day. Simple price support. They have shares to unload and want to get as much as they can. The stock is going begging at low levels and every time they take what they can get they end up driving the price support to dangerously low levels that would make unloading more difficult. They're trying to maintain a balance where they can meter out the dump on a daily basis. $.0004s looks like a helluva' bargain when the stock is trading at $.0006. Unfortunately for those that bite looking for a quick 48% flip, the high volume shares at $.0004 they will never be able to unload them with the skimpy buys, which are probably matched trades anyways, at $.0006.
Painting at the end of the day I see as more of a panic by a long underwater or someone trying to support some ridiculous theory of OBV positive field trend in what is a dead company. lol.
What would you expect Joerich? Margrit needs to get at least $.0004 and she ain't going to get that when it's begging there already. Throw $125 into the pot and make it up later in the day. It's been the same game for months now. Just that every month the baseline gets a little lower. Looks like $.0004 is the new standard for MRIB. Next month it will be sell at $.0003, paint to $.0005 and $.0003 will be the new level. And so on it will go until we hit $.0001.
Perhaps MRIB paid the money out to Zodiac Brands. Interesting that Zodiac Brands went dark about the same time as MRIB. Then there's always NovaNet, now NovaNet Jet Media. There's the connection to stock promotions as NovaNet is a known stock promoter. They act as a middleman to penny companies to get around the "paid promotion" label. It's all so shady.
Has anyone figured out how MRIB spent $300K Q4 with no significant expenses to speak of? No employees, apparently no rent, no advertising or marketing. Even if Margrit, Ani and Nina were on the payroll it doesn't add up. Tops for salaries, maybe $45K. Other expenses, throw in another $10K. Where's the other quarter million?
I only have one idea. It went straight to the Wine Plant of Eraskh for that container received in January. A container MRIB didn't even come close to needing. Why? The increased demand story has clearly been proven a lie and total fraud. So why would anyone buy product they don't need and can't sell?
You think maybe Margrit or a friend owns the Wine Plant of Eraskh? And perhaps MRIB paid that missing $250K to the ghost company Wine Plant of Eraskh who then contracts and pays a private labeler $50K to fill the order? And the money trail stops there. Very convenient. I'd say someone in Armenia has $200K net left at the end of the day. Hmmm. And this is not anything new. In the spring of 2010, already shut down for seven months Margrit ordered an astounding 4000 cases which simply became dead inventory. Why? Very fishy and lack of any reasonable proof the distillery exists only reinforces the questionable nature of the MRIB Wine Plant relationship.
Always coming soon... But nothing ever happens. At least nothing good. Just false hope delivered by Margrit through the MRIB Facebook page keeping the charade alive and the stock trading. We've been hearing "good things coming" from MRIB for so many months now with nothing that it's become laughable each time we hear it again. It's actually become a confirmation that the company is shut down and has no news other than things haven't gotten any better.
Just as I expected. Margrit using the old ATM. Tried to hold out but no takers at $.0005 or $.0006. She waited till the end and had to settle for $.0004. Same thing every day. $1000-$1500 a day. And you know it's someone who got the stock for nothing. Taking whatever they can get to convert garbage paper to cash. Best bet is it's Margrit.
Just thinking about why the last financials were so late besides than the fact they were so bad. I think there was another reason as well and far more telling.
In January 2015, MRIB received a new container ostensibly the redirected shipment planned for Brazil (tongue firmly in cheek). Besides the tax stamp nonsense, Margrit went public on Money TV citing a significant increase in US demand for product. This phrase has been a recurring theme for Margrit and MRIB over the past years. I think though, this last instance caught Margrit in a real web of lies and one of the most blatant lie to date.
The financials just released clearly show there was no increased demand and in fact there was a significant decrease. To exaggerate about events and promotions, throw around the term "national reseller", claim pleasant surprises coming, logistical problems, etc... those are grey areas. But to go public with a direct indicator on sales that was blatantly misrepresented is quite a different situation. It's equivalent to giving fraudulent guidance.
When MRIB released those numbers it clearly marked a major deception that puts into question all of the other "stories" surrounding Brazil not to mention committing a material fraud in making the statement. Even in the past her comments about increased demand could be sidestepped but not this one because of the shipment redirection for reasons that were clearly untrue and the fact that MRIB was way overstocked on product in the US already having received the June container plus $100K in existing inventory.
IMO, this represent Margrit's most significant deception and I believe a material fraud in representing sales that did not in fact exist. In this case, once the financials were released the lie and deception became fact with no excuse. Caught in her own web of lies with a loose tongue. Not a good combination.
That said, the good news is other than the abysmal numbers coming out in two weeks, if they do, the same representation has not been made so maybe the financials will be on time. Doubt it but we will see.
Margrit needs that $1500 for her daily expenses. Just a her daily withdrawal. She'll take $.0006 if it comes to that, even $.0005 if no takers. Just as long as some cash comes out of it. Got that May car payment to take care of as well.
Research driven? I'm not sure what that has to do with anything and MRIB has not even attempted to sell in any state other than CA as reflected in their miserable sales numbers and lack of retail availability anywhere but CA. And the abundance of market information on the industry and the ease in which it's been accessed in this case prove there's no real research involved. Same old MRIB appearance game. Google spirit production by state and then apply for licenses in the top ten. Couple thousand bucks spent for a story to be spun worth a factor of thousand selling stock, not vodka.
It's not talking to a proven liar that's the problem. It's constantly listening to the same lies over and over and believing them a second, third, fourth time and somehow thinking it's "different this time." How is that possible? I guess you can believe what you want to believe but the reality is that MRIB has been repeating the same bogus lies for years.
How is it that MRIB announces SA contracts starting way back close to two years ago and each time it doesn't happen some lame excuse is made and the longs rationalize it all? Then every time MRIB re-announces the same story it's all of the sudden credible all over again for another six months. Face it, SA never existed and will never happen just as India, Thailand, Monaco, Spain, etc. never happened. Margrit and Junior Faria dummied up a sales contract with no specific or guaranteed terms, waved it in front of FINRA, came up with a total misrepresentation of a letter of credit, and then used it all along with a barrage of false PR in order to market stock and financing deals.
A "nice" reorder from Costco? Is that sort of like "pleasant" financial results? The only reorder in the Costco inventory system when I called was five cases total so I really doubt any significant reorder took place. Just more dishonest and deceptive MRIB comments from Margrit.
And who cares about SA contracts? MRIB doesn't know how to sell the product and has no capacity to do so. If they can't do it in the U.S. They certainly can't do it in Brazil. But I'm sure Margrit will continue talking it up despite the obvious logic that nothing will ever happen. Just the same excuses over and over. "These things take time". What nonsense. Just a stall to keep the stock trading and the appearance of a company still operating that has clearly shut down right down to shuttering their offices and letting go of all their employees. The only MRIB activity we've seen, having eliminated salaries, is the mysterious expenditures every quarter of $300K plus for seemingly non-existent goods and services.
A lot of locations? Incredibly deceptive for MRIB or anyone else to list retail locations that have been dropped. MRIB has openly acknowledged such and it is well known, not to mention the listing of locations (Restaurant Depot) that are not retail locations and not open to the public. MRIB has roughly 20 locations, down from 28 the previous quarter, a loss of 30% of their retail presence and almost 40% decrease in sales.
Other than sales people at Louis Vuitton, Tiffany, Chanel and Hermes? I doubt it. MRIB is dark and gone. Offices abandoned, employees let go. Identical to 2009. What we all want to know is how Margrit and MRIB spent $300K last reported quarter with no expenses. That's a lot of dough for one employee who claims to be deferring 70% of her salary. She's going through the same motion as back in 2009. Keeping up appearances to preserve market for the stock. Looks to me like she's getting her $30-40K a month still.
Take a step back? From where? From what? There's never been anything to take a step back from. The current MRIB failure is identical to that of 2009 in almost every respect. They shut down without notice, did the bare minimum to keep up the appearance of an ongoing operation to keep the shares trading and basically walked away without a word to shareholders.
As to initiating cost savings measure you have got to be kidding. Last reported quarter with what should have been virtually no expenses and no employees MRIB still rang up a whopping $300K in expenditures on $6K in net sales. What exactly would you say Margrit and MRIB are spending on? $50K in spending per $1K in revenue doesn't sound like anything remotely resembling "betterment" and as to shareholders it's highway robbery. I have yet to hear a single thought from any long and/or those who continue to support what MRIB and Margrit are doing explain where this money is going. No advertising. No marketing. No rent. No salaries. More inventory than MRIB could possibly sell in 100 years. There's only one answer. The money is going into Margrit's pocket. Whether that's where it ultimately ends up I have no idea but she's the only one left and ultimately the buck starts with her.
At this stage it has nothing to do with buying fear but buying a dormant company with no sales, no employees, no cash and has shuttered the offices. MRIB is nothing more than a shell company. There's no more dips and bumps trading opportunity for a company that's out of business.