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Link? Sure. You posted it earlier. It's all in the financial report. You just have to unwind the deals and do some math. The rest is not news but analysis based on facts disclosed by MRIB in the report. For example, add up the notes and they balance with the expenses. It was 100% of MRIB revenue. There was never any intent or ability for MRIB to pay it off in cash. The "debt" instrument was more of a receipt for the lender collectable n shares down the road.
You can't exactly pinpoint the PPS as MRIB doesn't give enough details for many of the deals but you can ball park it in a general time frame and average price. It appears that most of the deals delivered shares at around 10% of the PPS at issue. For example, when at an average PPS of $.003 the number of shares issued were somewhere around $.0003 based on the original note amount, e.g, 184 million shares for a $58,000 note.
The last quarter was good? That bar must be set incredibly low. How can $2000 a month in net revenues, an almost 40% decrease, be good? How can you expect a company to survive on less than a minimum wage worker makes? That's crazy. And it's not like anything is changing the situation. It's just getting worse. No advertising, no marketing, no sales force, no employees. MRIB ran up $300,000 in expenses to make $6000 for the quarter. How is that good?
If I doubt the numbers were good show you why? Just look at them. MRIB can't even cover rent on their tiny little office. I keep hearing how good things are yet every documented fact points to exactly the opposite. Let me ask what would you think would be bad numbers for MRIB? Zero sales? $2000 a month isn't far from it. MRIB shows no cash on hand either. How is that good? There is nothing good in this last report and there's absolutely nothing to support or suggest that it is going to get any better. With a full quarter of the reduced number of Costco locations and no new retailers added MRIB is sure to report even worse numbers in their next report. But I suppose if MRIB shows $1000 a month the numbers will still be considered good? And look at those financials and tell me if what's going to happen June 15th is going to be good. I'd bet that's one reason Margrit didn't want to release this report. BTW, did anyone notice the date Margrit signed the report? March 9. She definitely held it to conceal a lot of the negative information for as long as she could. More than a month and a half. She knew there was absolutely nothing good in the report. How anyone else could interpret anything as positive from it is mind boggling.
It just dawned on me that it's been over a year now since MRIB has been actively selling. Total sales for those 12 months assuming MRIB can match last quarter for the recently closed quarter, will come in at a whopping net sales rate of $27,000 annually! Over $2000 a month despite an almost 40% drop off in sales last quarter. MRIB is just ripping it up.
MRIB turned the corner? What corner would that be? Sales are down almost 40%. They lost more than half of their Costco locations and they show no cash on hand as of four months ago and only $6000 in revenues for three months against $300,000 in expenses. That's turning a corner alright. Into a dark empty pit of financial disaster.
That's because the financing ran dry. But there's still some more dilution to come. June 15th or thereabouts there's a huge chunk of maturing debt. O/S should reach 1.8 billion. It appears that the increase to 1.8 billion shares was carefully calculated and managed. The $600K in notes if under the same arrangement as most of the other debt will just get to the 1.8 billion A/S. That why we haven't seen any dilution for a while. MRIB tapped it out months ago. They've got no more shares to sell.
Hey, if MRIB hadn't had any expenses that $2K a month could have been used to pay down debt! Debt reduction! The could have whittled debt down to $2,494,000! But alas, $300K in expenses wiped ou any chance of that.
Yes. That $2,000 a month is totally free and clear of any taxes. I did notice MRIB has still not paid any of those payroll taxes. FTB is not going to put up with that for too much longer before liens, garnishments and legal action.
Now there's some wishful thinking. Hate to tell you but MRIB is not a viable business. $2000 a month doesn't even cut it for an individual let alone a company. Heck it's well below the poverty line. Also notice on the fins there was no cash going into 2015. How is it even remotely possible MRIB can survive, if in fact they haven't already shut down, given decreasing sales, loss of existing retail locations and no new locations? And if you look at the fins you'll also see interest expense alone of more than ten times net sales.
So now that another quarter is in the bag does anyone think MRIB can break $5000 in gross sales in the next fins given they've lost more than 50% of their retail presence and locations?
And by the way, watch what happens in June when those $600K in notes mature. Looks to me like A/S will max out easily. And what exactly did MRIB do with that $600K and why isn't the cash on the books in the last annual report? Where did it go? At least $300K was paid in the middle of June alone according to the latest report. That's a lot of dough to go out the door in less than two weeks.
Actually, it was more like $13K in sales for a $6K net. But who's counting?
Well, with $2,000 a month coming in MRIB can almost cover the rent. What's particularly tragic is that these financials include sales from Costco before 8 of the 14 stores were eliminated as well as 12 Total Wine locations that are sure to be dropped soon given the abysmal sell through. What I'd really like to know is what MRIB and Margrit spent $300K on for the quarter with no sales force, commissions payable, no employees and management salaries deferred? $100K a month? They don't advertise or market. What could they have possibly expensed as SGA?
MRIB is out of business. Just winding down just like 2009.
Anybody who doesn't take $.0007 is nuts. This is headed to zero.
Yes. That's what happens when you let go of your entire workforce. No one left to sell though.
I don't think you want those financials stickied. They are so terribly bad. MRIB is a dead horse. Time to shoot it.
Margrit is off selling real estate and doing deals with all the money she took in. The company is totally dark. No sales and no future. Just an empty shell trying to draw in nubies for a couple hundred dollars a day for Margrit and even less for some flippers. Notice also that on the financials, cash is zero.
No. MRIB is out of business. No doubt about it. Investing in MRIB is investing in an insolvent shell. And the books are cooked anyway. The inventory? How do you buy two containers and inventory doesn't change? Total crooks at MRIB. And where is the new CFO? Obviously he wouldn't touch MRIB with a ten foot pole. Probably the reason financials were so late. Instead they got some hack lawyer to confirm. Track him down. Bet he doesn't exist.
Sales went down! What are you talking about? It can only get worse for MRIB. What hasn't been right on MRIB estimates? they lost most of Costco, can't seem to sell anywhere else and there's no advertising or marketing and no employees or sales force. Where's it going? The company is out of business. They can't even pay their rent and utilities. Just Ken Owen, Margrit and friends running their plan. MRIB is history. You can't run a company off of $1000 a month gross proceeds. Just a matter of time. THe only thing that keeps chugging is Margrit selling stock.
Are you kidding? $15,000 gross for three months? This company is out of business.
A post by the Company on their Facebook page is not a public release? It's funny how when MRIB post something remotely positive on their Facebook page it's gospel but anything negative is some kind of heresay. As for the debt? Just look at the financial statements. Shares issued for each on e of the notes. The information was in public releases by MRIB. How is that not public release? Look at the numbers as well. Not a single dime was used to pay off the notes, just shares. It's in the financials publicly released by MRIB. Again, how is this information not released freely and publicly from MRIB? And is selling shares to Eco Investments at $.001 when the stock is at 10X that not selling at $.10 on the dollar as documented in the public release by MRIB?
Does MRIB get the dreaded skull and crossbones from OTC if the miss their next report due in three weeks? As I read the regs, I don't think they're even allowed to file an extension already being late.
1. All of the new incurred was covered by share sales. You want a link? Go to the financials. Not a penny paid towards the notes. All shares.
2. Again, not a penny used to pay the notes. Just shares. Go to the financial report at OTC markets.
3. The debt was just on paper and short term. Again, as soon as the shares were delivered the new "debt" was satisfied.
4. Look at the prices MRIB sold the shares or. $.001 when the stock was at $.04 on the cusp of s 5% dividend? Get real. Would you have bought at $.001 when the stock was at $.04 with a 5% kicker? Was it offered to any MRIB commoner?
Not the case. More likely is the financing gravy train ran dry. They can't do it anymore because there's no spread. No money for the toxic financiers. That's why they went out of business.
I have a question. Just taking another glance at the last financials MRIB put out, how did MRIB rack up over $1 million in A/R?
MRIB spends no money on anything other than management salary and perks for the most part. How come there's $1 million plus due to vendors? I mean, there's no advertising, no expenses to speak of and little to no outside vendors of significance. Rent? Telephone? Power? How much could that be?
What we know is of the vendors we are aware of, all seem either tied directly or indirectly to Margrit and/or other MRIB insiders or are highly suspicious. NovaNet, Zodiac Brands, Broadcast West, Wine Plant of Eraskh? Did MRIB pay Wine Plant of Eraskh $1 million for a single container of vodka? We still have no proof the plant exists other than a bogus web site running out of Glendale, CA.
Based on what? A dark or defunct company tripling their market cap based on nothing other than speculation? Speculation of what? Another bogus Brazil PR? Another quarter without financials? Or perhaps folks silly enough to interpret silly tease trades at 66% premium as the beginning of a run?
The only thing supporting the MRIB PPS are folks so desperately under water trying to protect their positions with tiny volume trades at ridiculous premiums. The fear of MRIB falling below this last support line at $.0007 or so has some folks holding large positions in a panic. If in fact MRIB is still in business, which looks doubtful, Margrit is going to need some dough and there's none to be had other than selling some more stock. It's been a while since any real volume so those coffers must be running pretty low. Just a matter of time before MRIB goes to the old trusty ATM and unloads some zero cost shares at whatever they can get. The only "run" from there is downward.
I agree to an extent. Those that want others to believe the company is still in business won't expect a total loss. But I think most realize MRIB shut down for the second time in October. There's no company, no employees, no sales, no nothing. Just darkness and silence. THe reason for not releasing the financials, dollars to donuts, is who got the 400 plus million shares for the final dump. ECO Investments perhaps?
Ok. How much MRIB "debt" was paid off through sales and revenue? Are you claiming the sales of shares was not such and the company intended to pay back the loans with cash and not shares at a 90% discount? MRIB was well aware of their sales rates and entered into deals that could never be repaid. There was never any intention to do anything but deliver the shares for cash. In some cases they sold more stock in a week for cash that they haven't generated in sales in fourteen years.
Every last bit of that news is substantiated and publicly released by MRIB. Not one bit of it is opinion. As for the financials being seven months old, that's MRIB's problem. In November they were insolvent with no sales. Tell me how that was reversed given losing half their retail locations, no Brazil and no sales force?
The increase in O/S didn't affect MRIB debt in reality. There was never any intention to repay the debt. Just on paper and short term. It was a sale of shares, plain and simple. The "debt" was just a formality of the sales of shares to calculate the terms of consideration when mature. When the shares were delivered like the 300 million in February, the debt came off the books at $.10 on the dollar to the detriment of shareholders. And if you think about it, that discount on shares for operating cash makes the payment for Margrit's car the most expensive car payment in the world.
Yup, Obviously. $8.83 in interest in MRIB at $.0008. That certainly tells us something. The news is out and traders won't touch MRIB. No one wants to invest in a dead company. Just a bunch of manipulations by insiders trying to wring the last few dollars out of it and some flippers trying to make lunch money.
Yes, here's some relatively current MRIB news... MRIB lost more than half of their retail presence and locations with Costco. It's been almost three months since the fifth or sixth announcement in a year of shipping to Brazil "soon". MRIB is now more than two months late with their financial reporting. The company no longer has any employees. Total Wine & More has sold less than two cases of Marani in seven months. The company was very much insolvent at the end of November. All of that is pretty current. Oh yea, I forgot. The company raised A/S and diluted with the issue of almost a billion shares in a year.
Forget about the source for claims of increased MRIB sales. I'd just like to hear the logic. How can MRIB reduce retail presence and availability by 50% and increase sales? It's not like they did any marketing or advertising. How could it possibly be accurate or true? I have yet to hear any logical explanation of how this could be anything other than a wildly baseless claim in an effort to mislead and distract people from the likely truth that MRIB has shut down and most likely has been since October when all the employees left or were let go and all the financing dried up.
Well someone spent $400 baiting their MRIB trap but doesn't look like its attracting anyone. Talk is cheap. I hear a lot of baseless claims of the great things MRIB has coming yet no one is buying? If MRIB was going to run above trips why is it going begging? Obviously the optimistic talk is nothing more than the regular MRIB fiction. Speaking of which, it's been almost three months since a PR on the fictional Brazil deal. Aren't we due for another. That's about right isn't it? A Brazil announcement at least once a quarter?
Sales not talked about? Like where? You claim that MRIB sales were bad through the end of the year and now they're good. Without reporting how would you know this. What is supporting this claim? The only factual information we have indicates the opposite. The inventory systems at what few retail locations has left show virtually no sales. And how would MRIB have increased sales losing more than half of their locations with Costco? It's not a logical premise. And why would MRIB not communicate such good news if it were was actually true. Obviously, it's not.
The sale of 12 bottles is great news for MRIB! That should more than double sales for the quarter!
That's quite a few shares. If I may ask, how long have you been long that many shares and what makes you so confident in the MRIB effort given the current situation? It sounds like you've never sold a share.
Do you believe we will ever see MRIB financials again or that Brazil will ever ship? Has MRIB said anything to you? It's just that such optimism in MRIB at this point must involve some positive material support. Love to hear your thoughts. TIA.
MRIB has absolutely not "paid down" any debt. That is downright untrue and deceptive. They delivered shares for the new cash they took in. They didn't pay down a dime of existing debt. Just sold more shares. It's on the books and financials posted already. Just a FACT. September 2013 debt was $1.8 million and September 2014 debt was $2.35 million. ZERO paid down and over $500K added. I'm sure the $500K is just in notes for shares not yet reported and have since been retired through delivery of shares but MRIB paid down no debt whatsoever. They used the money for expenses ($1.5 million in the last fiscal year alone!) not to retire or pay down debt. Just another fact derived from the annual report.
And what proof is there that MRIB sales this quarter are good? We keep hearing that and see no support or proof. The only proof we have of sales is through the inventory systems at what's left of the MRIB retail presence and those numbers are horrendous. Worse than last quarter.
Again, "paying down debt" infers some type of debt reduction on existing debt in an effort to improve the financial position of the company. Going out and getting new cash and incurring new "debt" and then paying it off in shares without any application to existing debt is nothing of the sort. Just a sale of shares to raise cash for new expenses. It's not a reduction of anything. The shares were payment in full for new money only as evidenced by an increase, not reduction of debt over the dilutive period.
Now you're backtracking. You said dilution was due to paying down debt. The dilution occurred over the past year so we are talking about what has transpired in the last year and year over year numbers not TODAY. You claimed the MRIB dilution which occurred during that year was a result of paying down debt but the numbers clearly illustrate debt increased by almost 30%. How would you explain such massive dilution was the result of paying down debt under those circumstances? This is just another case of semantics in which shares sold for cash for expenses is being called debt. The fact that MRIB gave away shares in lieu of cash repayment was a sale not a debt.
The only good news is that MRIBs inability to raise anymore cash and the fact that most if not all of the convertibles have matured will mean those notes will come off the books with delivery of shares. But it will just be the new money. All of the existing debt and any additional debt from operations will remain withou having been paid down so to speak a single dime.