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I didn't say she needed it. Just that she has been taking it for years and there's no reason she isn't continuing to do so. Over $3 million in 2009 alone. And for doing what? And where's that good news we've been hearing is coming for six months now? Nothing from MRIB other than another Brazil tease which as expected was a fabrication.
And if not Margrit, who is selling? Must be insiders who got the stock for pennies on the dollar. It's all profit. Everyone else is so under water it's not worth selling until the end of the year and wait to see if MRIB will attempt another pump. At the volume and static price no one could be making any money other than those who got the stock, like Eco Investment at ten cents on the dollar current market value or Margrit and family who got their stock for nothing.
No. What would the purpose be? The seller is Margrit just making an ATM run. 100% profit and $.0006 is all anyone will pay trying to flip it on a pure gamble. There is no news coming because there is no company. All that now exists of MRIB is an effort to keep it trading even though they've been out of business for six months. Sales for Q1 will be even less than the last reported quarter. I'll be shocked if they hit $10K for the quarter. But I'll bet you expenses will still be up there in the hundred thousand dollar range.
There's no such thing as low O/S. It's all about revenues, cash flow and profit with regard to O/S. MRIB is extremely overpriced and has way too many shares out based on the numbers. Compaaring it to other OTC stocks is absurd. Each share is worth less than 1/2 of par based on current numbers. Show me a company with as little revenues as MRIB making $2000 a month and I'll show you a company no longer in business.
Exactly! But there are no revenues nor any anticipation or expectation of significant revenues let alone any at all. There isn't even any cash flow. Every new share issued is a 100% dilution of each share currently outstanding.
And remember this is not a new ground breaking technology or breakthrough Biotech stock looking at explosive growth. It's a no nothing, unbranded and unknown consumer product in a crowded space with no differentiation and tiny margins with a relatively high COG. And 2 billion shares out on MRIB is a HUGE number for a company that makes $2,000 a month. It's absurd to even consider MRIB an ongoing concern.
And this Brazil thing is also absurd. I have yet to hear any explanation of why or how MRIB could sell in Brazil when they can't sell in their own backyard? How's that going to happen? If the product doesn't sell here it won't sell there. That's just fact.
Here's something curious from the latest MRIB financials. Based on the increase in payroll taxes for the six months ending December 2014, there was roughly $220,000 in salaries paid for the period unless the increase was all interest/penalties but we'll get to that in a minute.
There were seven employees on or around the beggining of the period, Margrit, Ani, Ari, Nina, Richard, Dan and the Director of business development whose name escapes me right now. First to go were Ari and the woman who was Director of business development. She listed a new position with a travel agency in early June and Ari listed a new position elsewhere in July. Both on Linkedn. So there were five employees for the period in question.
Now, around the start of the period Margrit went on Money TV and stated that management had been deferring 70% of salary. We'll assume that does not include Nina, Richard or Dan. If the numbers from the employment contracts applies at $180,000 salary for each Margrit and Ani, that would come to $4,500 a month each. Regardless of when Ani actually left we know she was gone as of end of year. Giving her six months of salary for the period that's $27,000. Margrit would be the same for a total of $54,000.
In late August one of the board members here communicated with Richard who relayed his dissatisfaction with MRIB, his leaving the company and told him not to bother contacting him any longer. Ok, so let's say he got paid two months through August. Next was Dan. I have it from a reliable source that Dan stopped getting paid end of August early September. Money TV first week of October was probably his last day. But we'll call it two months of salary. All that's left is Nina, basically a glorified office assistant. Let's say she got paid the entire period of six months. All in all you have 10 months of salaried employee pay. Taking away Margrit and Ani's pay you get $165,000 for this 10 pay periods for three people. $16,500 a month for each or roughly the same salary rate as Margrit and Ani? I don't think so. I think Margrit either told some big fat lies or she and Ani drew down a huge amount of any accrued salary befor the end of the year.
Looking at it sensibly, let's say Dan was getting $120,000 base which would be pretty good for a regional rep. He gets $20,000. Richard was the IR rep answering phones and such. Let's put him at $60,000 and he accounts for another $10,000. Nina as an office assistant would be lucky to get as much as Ari was getting at $60,000 so there's another $30,000 for a grand total of $60,000. That leaves a balance for Margrit and Ani of $160,000, not $54,000. And guess what? That adds up to three times what Margrit claimed and probably more as the salaries I used are VERY generous. Bottom line is Margrit and Ani appear to have drawn their full salaries in cash made available by not paying anyone else and/or letting them go. There's also the $300,000 in SGA for the last quarter with only the three folks on the payroll.
Last note on interest and penalties mentioned earlier. If that were the case even more problems arise regarding the SGA for the period. If no salaries were paid what did MRIB spend almost half a million dollars on for the period?
How will news that Brazil is a scam make MRIB skyrocket? MRIB has been talking about Brazil for years. There's no deal there. All just fabrication.
Anything the company needs to do to keep the stock trading. Renew useless liquor licenses, file abysmal financials, whatever. Just keeping up appearances so they can keep selling stock as long as possible and have folks say, "oh look, they're still going".
Company is out of business. No proof otherwise.
Name 3.
The PPS for MRIB is extremely high right now based on earnings. It';s overpriced by a factor of 1000's. $2000 in net sales on 1.2 billion shares and another 600 million shares to come on June 15th. THe only reason it's not zero right now is people are just waiting for the end of the year to write it off.
Why did you start at February 13th? Why did you eliminate the enormous dump a few days prior? If you are going to present data and call it empirical present it all. Don't cherry pick. Do the OBV for MRIB for the quarter not from cherry picked periods that make it look good. Take it From January 1, 2015 through the first quarter. What do you get?
It can take years.
Granville's theories only apply to companies with real volume and not thinly traded penny stocks that can be manipulated with $8 trades. It's like taking someone's temperature with a tire gauge. It doesn't apply to MRIB. It's entirely deceptive and targeted at the naive. MRIB is out of business plain and simple. No cash, no sales and no employees. Just an empty shell keeping up appearance to try and keep the POS trading so Margrit can pick the bones.
$.0006 plus or minus until the reality that the company went out of business seven months ago settles in. December 31 we'll see the $.0001 with no bid.
The OBV numbers posted are totally falsified. Read your own tag line. It fits. You eliminated the first week of February? Why? Because OBV would be 200 million negative. You also posted up volume closes on down days. FACT. This technical nonsense is deceptive. I count at least fourteen days volume rated up when it was static or down. And that doesn't even include the tape paints to keep it positive. MRIB is out of business. Dark and silent off into the night with all the money just like in 2009.
Unforeseen? Really? Did anyone not realize how bad the numbers were going to be? If it weren't for this absurd twisting of data like OBV and false hype on Brazil being perpetuated this dog would have died long ago. Let's face facts. MRIB went out of the vodka business seven months ago. Now it's a matter of keeping up appearance to keep the stock trading so Margrit can go to her little trusty stock ATM every week.
Looks like Margrit could only manage to eek out $60 or so today. At least so far. Looks like Neiman-Marcus and Ruth Chris's is out this weekend. Goin' to Marshall's and Sizzler. LOL
How many people here make $2000 a month total? That's what MRIB is making. Where can this company possibly go? And the whole ready to run thing is just old. We've been hearing that since the company shut down seven months ago. Has anyone even had contact with the company since October? What happens when those $600K notes hit on June 15th?
That's why we haven't seen much in convertibles. MRIB tapped it out long ago and couldn't pledge any more stock. All that's left would be the R/S or an increase in A/S. Do the math. Either way the PPS will be a fraction of what it is now. If people are silly enough to buy stock in an insolvent out of business company power to the sellers I guess.
The chart says the patient is dead. MRIB has been a rotting corpse since they shut down operations in October. The chart represents nothing more than a couple of flippers leftover arm wrestling for $30 and Margrit picking from the MRIB bones for whatever she can get.
That international shorting ring is hard at work! How disgraceful that they would go out and short $63 worth of MRIB! Such greed!
Eyes on it like eyes on a train wreck. There's nothing that could possibly make MRIB run. The company is shut down. They don't make enough money to pay their rent and probably don't care anyway as their lease runs out next month. All carefully timed and planned by Margrit and MRIB.
Bottom line is the only run to come is completion of the final death spiral downward. MRIB has shown no ability to conduct their stated core business of selling vodka. To even call it a company with $2000 a month in net sales and decreasing is a total farce. $.0000008 per share! LOL. BEFORE EXPENSES! LOL!
Just got a look at that Costco picture suggested as support that Costco put in a HUGE Marani reorder. A couple dozen or so cases? Really? That's huge? It's probably what they originally had in stock with their original order. And not one bottle had been taken/purchased. All full cases. How one could speculate that there was any huge reorder from that or that full cases represents good sales is absurd.
The picture is on the MRIB Facebook site BTW.
Just a humorous note with respect to MRIB and a comment I saw floated this morning. There was a claim that an international shorting ring is responsible for MRIB woes. What's next? Industrial espionage? LOL
And there's the tape paint....
Right back to high volume at $.0006. Margrit on her way to the old stock ATM.
And in sort of a sick twist. Look at the Facebook picture of Margrit in Miami. Do you know that the handbag she's got hanging on her shoulder cost more than MRIB net sales for the entire 4th quarter? Shareholders should know what and to whom their money is going. It sure looks like it all goes straight to Margrit's pocket.
Nobody's saying MRIB shareholders are being held against their will. We're saying that Margrit is as dishonest as the day is long, is hiding important facts and data and all should know. And if all that matters is numbers, might as well erase Brazil from the MRIB equation altogether because that number is ZERO. If we are to follow your guidance we should clearly give no credence to MRIB claims for anything we don't have a confirmed reported number for.
You got it exactly Water. Why omit certain names and not others? And I believe the official term used by the SEC is "affiliate" or "control" interest depending on the relationship. Charlie Owen and Eco Investment for instance being a board member of both MRIB and Eco would be considered a control interest. Ken Owen on the other hand would be considered an affiliate. Either way it's dirty as heck.
I'd also love to know the names of some of the MRIB vendors from the catchall SGA. Who did MRIB write checks to in their last reported quarter to the tune of $300,000 with no employees, no sales force, no advertising, no marketing and management salaries deferred? Zodiac Brands perhaps? NovaNet Jet Media? Wine Plant of Eraskh? All ghost companies. Having racked up $2.5 million in debt and sitting on hundreds of thousands of dollars in payables and not one single vendor/creditor has sued MRIB, filed lien or taken action to collect? Doesn't anyone find that odd? Try spending that kind of money without paying anyone and see if you stay clear of anyone taking action.
Anyone think the names of lenders getting this cheap stock that you paid ten times as much for is unimportant? Knowing means nothing to you? The got stock they got at a rate of $.0003 when you were paying $.003 doesn't bother you and you don't want to know who or why? Hmmm...
Names of the lenders MRIB is funneling stock to at such steep discounts are not important? How about Eco Investments which appears to be a control interest? Charlie Owen, Deborah Ridge and Shinsume Nagaski are all listed as board members of MRIB.
What if one of the unnamed lenders was/is NovaNet Jet Media? Run by the same crew and whose corporate record lists Margrit Eyraud as president. I think it's damn important to know who is getting this dirt cheap stock because it sure ain't the MRIB common shareholders and it's being seemingly given away for nothing while common shareholders get murdered by dilution.
What I want to know is why some of the lenders are name and others are not? Talk about a lack of transparency. Why doesn't MRIB want investors to know where they are funneling this hugely discounted stock? Dumb question probably. With Margrit's $7,000 in stock monthly car payment any other outlays of stock that might incriminate her are probably better kept quiet.
I agree. Looking at a picture and making the determination that a huge Marani reorder was made by Costco is quite twisted. As for the facts, MRIB lists on their Facebook page that Marani is only available at six Costco locations. Overall sales as noted in the latest financials are down close to 40% and the company had zero cash on hand and $2000 or so in realistic receivables. Total net sales are now at a run rate of roughly $2,000 a month not taking into account the loss of eight Costco locations and expenses were only reduced less than 17% from $360K to $300K per quarter with significant increases to debt now at $2.7 million, accounts payable and unpaid payroll taxes. This is not to mention interest expense alone in excess of ten times net sales.
Brazil has not shipped and there's been no status update in close to three months. Dominican and Mexico deals are long forgotten having served their purpose in PR. There are no employees left and no sales force. There is zero advertising and marketing and the MRIB marketing and advertising partner Zodiac Brands has been dark and dormant just as long as MRIB since October 2014. Also long forgotten is the roll out of other products, wine, brandy, beer, etc. Again, having served their PR purpose but as with all MRIB hype and PR, total bunk and undelivered. Not looking quite as bright as you make it out to be.
You can look at a picture from one store and make the determination that Costco made a huge Marani reorder? That's an interesting skill. Where is this picture at?
It couldn't be that there was no reorder and Costco consolidated their MRIB inventory from the shelves of 14 stores to 6 stores floor stacked? A common practice in order to free up valuable shelf space occupied by products not moving well.
Fact remains that MRIB themselves have said they are now only in six stores although that has not been confirmed as two of the stores I called from their list claimed they did not have Marani in stock.
Last, as to say the sales at Costco are going well is obviously not true, not that one could determine such for a quarter not yet reported. In reliance on numbers to date it would appear that sales at Costco (during the busiest season of the year for spirits) did not go well and overall sales were down close to 40%. Not that 40% represent a big number when MRIB is selling less than $5,000 gross per month. And I'd bet dollars to doughnuts those numbers are cooked and that most likely include shipped product not sold through. I don't see any allowance for returns in the financials which for this type of product is quite odd.
What huge reorder? The only reorder they had in their system for Marani when I called was four or five cases for the Burbank store which was actually two weeks late at the time. Nice account management by the way MRIB. And when and where was the any news of a "huge reorder"? It certainly isn't showing up in MRIB sales!
Good grief. Again with the semantics. Fine. In NEWS, MRIB posted on their Facebook page that they had in fact lost 8 of the 14 Costco locations and the names of the remaining locations. More MRIB NEWS, the company reported net sales of $6000 and $300,000 in expenses for Q4. In reviewing the latest report MRIB incurred new debt in return for cash and paid all the notes in shares. The financials indicate that the notes had no effect on debt as they were retired upon delivery of shares.
It's analysis not news. The O/S didn't have any effect on debt because it was all paid off in shares. It's in the financials. Do the math. You can also easily make the assumption that there was neither intent nor ability to pay of the notes in any other way. To borrow $600,000 with an annual sales rate of $2000 a month is not reasonable and no lender would do that without the promise of shares. The fact that MRIB gave them away at ten cents on the dollar is even more proof. As far as the notes being just on paper short term is just fact. Some were six month, some were a year. The notes as seen in the issuance history were just a formality and wiped clean on issuance of shares.
As far as Margrit's car payment. Do the math. The company pays for it as part of her employment contract which is also documented. Considering no revenue source other than the highly discounted convertible debt her car cost the company ten times face value. That $700 lease payment actually cost MRIB and its shareholders $7000 a month.