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A PR from MRIB makes it true? 99% of their PRs have been either untrue or hugely exaggerated. Regardless, where's the shipment? When is "soon"? And let's not forget the September PR in which MRIB claimed to have already shipped to Brazil. Then Margrit backed it up on Money TV with "it's on its way". Was any of that true? Does anyone really buy the tax stamp story? It's laughable to think a $100 million deal would be shit canned over such a trivial issue. Excuse for a fail.
And increased US demand? Are you aware of how many times in the past 8 years Margrit has issued a PR claiming increased demand? None of it was ever true. Can anyone honestly say they believe that there is even a remote chance MRIB demand has increased? Oh, but wait, I forgot about the PR about Costco expansion. The company said so, so it must be true, right? The new national retailer coming on board that MRIB teased folks with for weeks? Yup, five cases total in a dozen local stores with sales of maybe seven bottles in six months.
Because MRIB issues a PR doesn't make it true. In fact in the case of MRIB, most if not all MRIB PR should be taken with a grain of salt or ignored as fictional hype. MRIB has lost credibility and the right to fall back on these PRs as proof of anything. The only thing that makes it real at this point is execution and delivery.
Just because MRIB relabeled it a joint venture makes it a whole different deal? What's the difference? They even refer to the "existing agreement". The only thing different is the "assignment" claim. If anything, the supposed "assignment" would most likely devalue the original agreement. End of day it's the same old three year old undelivered deal. Margrit must love the fact she can make such a meaningless modification to the old PR and get folks talking about it like it was a great new thing.
Looks like MRIB is in a serious liquidity crunch. Brazil and Costco fails along with no financials have probably sealed the deal for good.
The $75 trade a tick down? An ATM withdrawl. Diner at Sizzler.
Waiting for the $6 trade to bring MRIB back up to $.0007. 6 minutes left.
Really Chewie? A recycled PR from two years ago and a lawsuit settlement where MRIB was dead to rights? They're dark. Where's the PR that all employees have been let go? Where are the MRIB financials? Why are folks constantly making excuses for this non-reporting company delinquent in their reporting and so abusive to the shareholders? Most MRIB investors have lost 99% of their investment. Where do we draw the line? Margrit has taken out millions. On the books. Almost $4 million in 2009 alone. God knows how much since writing checks to ghost companies like Wine Plant of Eraskh, NoveNet, Eco Investments and Zodiac?
No financials? MRIB is hiding the truth. That's the bottom line. There's no "good news coming". Just hype trying to prop the PPS until full exit can be made by those that paid nothing for their MRIB stock. Margrit has never put a single dollar into the company and has walked away with millions. Now unresponsive and ignoring shareholders. Shameful.
Yea, it's over for MRIB. No interest and someone trying to use it as an ATM, without much luck. Sorry Margrit, the gig is up. Time to go back to showing three bedroom ranches in Glendale. $60K in January, $30K in February, $15K in March... Maybe a couple more months at best. Coupple of flippers out there willing to take a chance. Go for it.
Costco now reporting zero stock. Brazil is fictional. Company is insolvent. Get the fork out. Eraskh Wine Plant and Zodiac seem to be non-existent. Bet MRIB paid them both a lot of money. Wonder where that money went?
Implode would be a far better term. And it's likely already happened. MRIB has now been dark for over six months, lost their biggest client, is two months late on financials and reporting (two full quarters) and the last we heard from the company they had negative $15,000 in the bank and all the employees had departed or been let go.
And in extending the charade, I'd say racket is the perfect description. Someone is selling stock at the lows for the last six months and that average daily volume has been slowly decreasing as interest in MRIB as an investment wanes. What's left now looks like a personal ATM for Margrit if you ask me. $60K in February, $30K last month. Not sure there's much left for her to take out. I think the only thing MRIB investors can expect is the dreaded "E" added to their ticker to go along with their non-reporting and delinquent disclosure status. Not a good situation.
I'm a little fuzzy on the MRIB trading. Maybe someone can clarify. Why would anyone buy MRIB when the cost of the trade is more than double the stock value? Adding to my confusion is why would anyone sell under the same circumstances? A seller seems to be even more unlikely. Not worth the time or money involved. A need to establish a $6 loss and get out of a MRIB position? That seems unlikely. Is this clean up or housekeeping from the previous trading session? It makes no sense to me otherwise unless someone is simply taking one for the team to support the price and market for MRIB stock and keep up appearances.
The only broken record is the constant excuses coming from MRIB... and they've been doing it for eight years! Yet some folks keep supporting and/or making excuses for MRIB and Margrit. Let me ask, does anyone really believe Margrit's behavior is acceptable? Total darkness? No communication at all? How can anyone defend a CEO who treats shareholders with total disdain?
How arrogant must she be to think she can do such? Meanwhile she's pulled millions of dollars out of the company without selling a thing. Hell, she got over a million dollars to quit for eight months before hiring herself back and going dark two months later.
Someone please explain to me how this is acceptable from a CEO and someone charged with protecting and enhancing shareholder value? The only one that's been enhanced with MRIB is Margrit to the tune of millions.
And patience? How about eight years? How much more patience should be expected with non-performance, bullshit PR and a eight year string of lies and excuses.
Patience? Really? Waiting for what? Brazil? MRIB can't sell vodka in the US. How are they going to sell in Brazil? Financials? How hard could it be to get them done? All we ever hear from MRIB is patience and nothing is EVER delivered. What has MRIB ever delivered on? And now the company has gone dark and dormant and MRIB investors are supposed to be patient waiting on all of the same undelivered promises.
Isn't there some limit to patience with MRIB? And how can anyone possibly continue to defend Margrit and the actions of MRIB? They say nothing, do nothing and deliver nothing yet some folks continue to make excuses for them and preach patience like something is going to happen. Bottom line is nothing can happen. There's nothing to be waiting for or patient about. There's no sales, no money, no employees, no company. And right now there little to no evidence of an ongoing operation at MRIB. Conversely there are many signs and proof that MRIB was shut down months ago.
I'm not sure it was a "looting" but in retrospect it sure looks like there was a run on the bank from November through February. Look at the chart. The volume was massive and the sell off undeniable. The timing makes it look worse because November was when we stopped hearing from the company and all the employees were gone leading me to believe that the company was in fact shut down back in November and the insiders cashed out what was left.
Sitting on hundreds of millions in MRIB shares anyone knowing the company was going dark would have loaded off big time and it sure looks like that's what's happened. We are now left with "shell value". What's a public shell worth these days? I haven't done one of those reverse merger deals in ages. Bottom line is it looks like nothing is left of MRIB other than $600K worth of bag holders. Even a reverse split wouldn't fly right now. It would fall like a rock right back to trips. You'd have a couple of seconds to get a trade in that would represent any recovery.
Probably time to face the fact that we haven't seen financials because it will have to detail those responsible and the story of the massive sell off over the past seven months. Anyone want to wager Eco Investments was in on the deal?
Actually, I was wondering why I was watching Marcus Lemonis. Good Friday. My bad.
And no one is offering to buy them either. No market. The only market MRIB had was new issues being dumped off on unsuspecting MRIB investors. All that's left are bag holders. No chaairs left and the music stopped. The company ha gone dark just like 2009. No financials, no reporting and an ignored OTC warning for limited information making MRIB an unsavory buy. Looks like just a wait until December 31 before the final bail.
MRIB investors totally under water holding on to the dream of anything other than $.0004 a share or so is dreaming. No one wants to pay for them. A non-reporting company with no revenues or employees? Really? It's over. Either we get MRIB 3.0 or the party is over. Either way it's going to be a long wait.
Looks like no MRIB shares left and no interest in buying. Obviously the new issues and conversions were fueling the majority of the trading and they were all sellers. Looks like they're out of shares to sell. Market has absorbed the hundreds of millions of shares, now worth next to nothing and not worth selling and/or waiting for a miracle. No supply but no demand either. We're only talking about plus or minus $600K in market cap spread out amongst the entire MRIB investor base so it's very likely MRIB could just sit here and stagnate until end of year tax loss selling.
My thought is we haven't seen the MRIB financials for reasons other than obvious bad sales news. We all know the sales are pretty much zero. No foreign revenues and no new retailers. Loss of Costco sales. So releasing that information is really not going to surprise anyone. It would just confirm what everyone's expecting.
No, I think it's either Margrit can't get them done for some reason like she's just incapable and there's no one else to do them and/or she has no money to pay to get them done or doesn't want to bother spending the money. MRIB has been very consistent in spending as little money as possible on anything other than payroll and stuff to extend stock sales.
Now it could also be that there's information that would have to be reported that MRIB doesn't want known like the disposition of some of the convertible debt deals. Maybe Margrit doesn't want investors to know what MRIB has been up to with regards to the hundreds of millions in new issues.
I think we need a special MRIB dictionary for the alternate meaning of certain words. Fist that comes to mind is "soon" as in MRIB shipping to Brazil soon or good news coming soon. When is soon? Another is "pleasant" as in pleasant financial results. How about "national" as in national distribution or national advertising? And from back in Spring 2014, "profitable" as in MRIB should be profitable by next quarter. "Dilution" is a good one because the MRIB definition of dilution as in there will be none must be something entirely different. We'll call it MRIB speak.
MRIB OBV is negative since February in a big way. The negative field trend is clear. It's well in excess of negative 150 million versus the claim of a positive 27 million. By eliminating certain high volume down closes and adding a number of flat closes as up days the calculation has been skewed artificially positive. Fact is that since February the MRIB OBV is more than negative 150 million. For example, taking just March, there were seven up closes cited for MRIB and the volume added to the calculation when there were in fact only four up closes, three as the result of a late day sale of less than 1% of flat to lower priced total volume for the session. This being one of the main reasons traditional technicals cannot be applied to MRIB. The trading is just too thin even if the calculation is not manipulated. Granville's basis does not take into account a closing price that can be manipulated upward with a 1% trade as we see almost everyday at MRIB.
This is not to say we can't identify trends for MRIB employing some of Granville's volume concepts, it just has to be done without attention to closing price but volume and average price for the session. If not weighted as such the OBV will be skewed. In other words, if MRIBs previous close was $.0006 and there are 12 million MRIB shares traded at an average price of $.0005 but the close is at $.0007 based on a single 10,000 share trade the addition of the 12 million MRIB shares in OBV and subsequent indication of a positive field trend is a false result. In reality, to apply Granville to MRIB in this example one would have to apply the 12 million shares to OBV as negative to truly reflect the technical indicator.
But, even if you ignore this reality, MRIB is still in a negative field trend for the quarter just taking four or five days from last quarter in which 600 million shares traded at a lower closing price. That takes the MRIB OBV well south of any positive field trend.
I'm sure a lot of folks would be happy with ANY MRIB news having not had any positive news since Costco close to a year ago. Everything since then has been either bad news or bullshit. I'm trying to think what good news could be coming out of MRIB. Aside from the fact that MRIB has gone dark, what are the prospects for any good news coming?
We know Brazil was a ruse and even if there was something to it MRIB does not have anywhere near the resources to do anything impactful. We know they lost most of their retail presence via Costco and have not placed any new retailers in six months, so we know no one is out selling. The late financials are now so late that they are either never coming or they are so bad MRIB doesn't want to post them. There's no money left and financing appears to have dried up. All the employees are gone and MRIB is left with a residential real estate agent with no experience and a track record of over a decade of failure running the company by herself. The unknown product has no marketing or advertising and no resources to create any. There's more than $2 million in debt on the books and zero revenue not to mention a quarter million dollar payroll tax liability. The stock price has crashed losing 99% of its value in a mere matter of months and MRIB in its infinite wisdom diluted the stock issuing out over 600 million share in just the past quarter, all under Margrit's watch and direction. It's hard to see where any good news could come from or what it could possibly be other than Margrit being replaced. We did that once already though, didn't we?
Repetition of unfounded facts? Please elaborate. What's unfounded about facts surrounding MRIB?
Massive dilution? No financial reporting? No advertising? Loss of Costco stores? Employee exodus? Insolvency? Track record of failure? Brazil fail? Dominican and Mexico fail? Massive debt? Tax liabilities? Massive collapse of PPS? Failure to deliver other products as promoted? Just wondering what's unfounded.
What's coming? Heard that for months from you. Nothing. MRIB is shut down. Face it. Just Margrit selling off stock to protect her lifestyle. No financials because they confirm such. MRIB has gone dark yet again with Margrit walking off with millions of dollars. MRIB investor dollars. And she adds insult to injury by going totally silent. Then using insiders to post optimistic crap about the company that is totally untrue. Brazil does not exist. Wine Plant of Eraskh does not exist. Zodiac does not exist. NovaNet does not exist. Eco Investments is the conversion utility. All vehicles to drain the public investor. Anyone supporting this effort is definitely an insider profiting. Ken Owen, I'm sure. Margrit? Of course. The company is dead and dark.
"Good things coming..." There's that old broken record again. Like what? We've been hearing that from MRIB since October and there has not been a single item that occurred nor any detail on what's coming. Just an ambiguous teaser. No different than Margrit's on Money TV using the word "surprise" which she has used on numerous occasions tot he disappointment later of all MRIB investors.
Let me ask this. What could there possibly be that MRIB has done or could do that even remotely supports an optimistic outlook for MRIB? Please spare us the Brazil story. MRIB couldn't do Brazil if it came to them on a silver platter. Couldn't even afford to get the paperwork done let alone marketing and advertising. Brazil is not an option. And Costco is down to one store, not six. It appears they lied about that as well. When I called the only store stocked was Burbank. Nothing else in the entire chain. You want to believe MRIB or Costco? Stupid question on my part. That's probably part of the problem.
And where are those financials? Does anyone think we will ever see them at this point? We have two full quarters of operation without a single idea from the company about status and/or what's going on. If one is long MRIB isn't this disturbing? If the company is actually still operating and spending your money aren't you curious about how it's being used and applied? Not even a bit peeved they're so late and with no explanation why? My only answer would be anyone still supporting MRIB given this bad behavior would be that they are supporters from within the company or desperately under water longs trying to extend life in MRIB not being halted and the hope of pulling a rabbit out of a hat. Any reasonable outside investor in MRIB should be pissed and demanding answers. I can't understand the blind support and the constant excuse making for Margrit and MRIB.
One more thing on this absurd "up volume" deal. Check the MRIB daily prices/volume. With roughly 80 million shares traded less than 2 million was "up volume". That's all of an average of $12 per session. 40 million was down volume at $.0005 or below and the rest was flat at $.0006. Also, other than yesterday's 50% tape paint, what up day at any volume did MRIB have in March? I don't see any. All red.
So how is it that 95% of the MRIB volume is flat to negative that there can be any consideration of what amounts to less than 5% of total volume traded at a premium let alone a total of less than $1500 in value, more than half of them paints, over a month of sessions? How does that represent accumulation? Sounds a lot more like massive sell off and a few prop trades to support the dump. The only accumulation is the dumpers buying from themselves to keep the PPS up. Why not? Paying a $.0002 premium on some paltry trade which simply goes from one pocket to another until sold but enables the higher volume trade later is well worth the price. Less than $10 a day supporting and artificial PPS for $20,000 in sales for the month almost all of which is profit? No brainier.
Good news for MRIB at this point would be a Chapter 11 filing versus a Chapter 7. LOL!
Yes, quite a few lofty claims over the last six months on PPS, news and good things coming that never materialize. What is troublesome is that much of it comes from folks who claim to talk directly to Margrit and others inside MRIB. What that tells me is that either the claims of having such direct information are untruthful and simply made up hyperbole trying to prop the PPS with ambiguous BS or Margrit lies to everyone she talks to. Anyone talking to MRIB or Margrit should probably consider such and take it all with a grain of salt versus representing a CEO with a track record and propensity for deception and general dishonesty.
What's truly pathetic is that Facebook post is now being rationalized into "great news", logic being MRIB sales were good enough to hold on to 6 stores, not that MRIB lost 50% of their retail presence. Talk about glass half full. So desperate.
Let's see... The last time we saw any financials MRIB reported just shy of $20K in gross sales for Q3 with all fourteen stores. What's Q4 or Q1 going to look like with six stores? Math says about $8500 or $2800 a month...GROSS! Doesn't even cover the rent. I guess that might be good news considering MRIB still has sales and cut their expenses drastically by getting rid of all their employees. LOL. Maybe they'll show a net! LOL. $8500 in sales and only $8400 in expenses!
Up days having higher volume? You should check the volume at any given PPS because the volume at the lower prices outweighs the up volume by a huge amount. A million shares bought at $.0005 and a hundred shares bought at $.0008 at 3:59 PM is what's going on. Actually the opposite of your premise. The overall volume and the closing price from a tape paint is meaningless. Just a setup for the next day of selling off.
Huge news coming... You do know we have been hearing that ambiguous rally cry for months on end and none has ever come. Never any detail either which I'm sure is intentional as any random news can be spun as an "I told you so" later as insignificant as it might be. I think a lot of MRIB investors would be happy if MRIB would just get the damn financial results posted and stop bullshitting about great things and huge news coming. Another PR without financials will fall on deaf ears and will carry no credibility. And each day that goes by without financials makes it look more and more like MRIB is either hiding something and possibly more than just abysmal sales, or they are incapable of doing them or paying for someone to do them. Either way it spells real trouble.
A Facebook post from the company itself? Now there's a reliable source for information. Why is it MRIB supporters always go to the company in some way, shape or form to get information that is readily available from an unbiased neutral source? Call up Costco. What's MRIB going to say? "We've been dropped at Costco..."
And it's funny the way it was put... "Burbank and five other stores." Not that there may be anything to it but why single out only Burbank? Or why not just list the other five stores? Or could it be that Burbank is really the only store left as I was informed by Costco customer service over a month ago.
Regardless, at best, MRIB has at least finally confirmed that they lost at least eight stores and more than likely 50% or more of their paltry sales. This goes in addition to the stigma of being dropped and signifies a lack of sales and a total product fail. Where's that big Costco expansion? Just contraction and soon discontinuation.
They have one last reorder received at Burbank that came in after the other stores pulled it. Obviously they're just trying to get rid of it putting it on the shelf if it in fact is there. No reorders in any of the other stores. I'd call that clearance. I'm also pretty convinced that MRIB was paying a slotting fee to keep it there and when the money ran out so did their shelf life. Plus when Dan left all account management left.
Total Wine still has plenty of Marani left out of the 60 bottles they ordered back in October. Last I checked there were 52 bottles still in stock. Unfortunately Costco has discontinued Marani and only has a few bottles left at one store on clearance. So Costco does not have "plenty", another wildly exaggerated and unsupported MRIB claim in an attempt to deceive investors.
For starters, the first two links are for products from a different company going by the same name of Marani, just for the record. Poor DD before we even look at yet another attempt to present some simple and easily acquired documentation to justify MRIB as a real company. Just like the liquor licenses, FINRA document, Brazil contract, Eraskh acquisition agreement, etc. No substance to it at all.
As far as the question, pretty simple. Money. Registering for label approval costs what? You could go all out and hire a Greenberg Traurig lawyer to do it for you and overpay and not spend $1000. Then you make $3.8 million in stock sales using it as proof of REAL product and folks saying it has to be or else why would Margrit go to the trouble? It's so absurd to think filling out a form is the basis for justifying anything. Would you fill out some forms, pay a small application fee and "go through the process" for $3.8 million? The premise of justification therein is preposterous.
More to the point of going through the process... Everything Margrit and MRIB has done has been an exercise of "going through the process" for the purpose of appearances. All done on the cheap as well. Why would MRIB pay $1.8 million for advertising if this was a scam? Well, where's the advertising? Has anyone ever seen any? But if they owned the advertising company and never really did any advertising? There's your answer.
Why would MRIB pay Wine Plant of Eraskh for four containers of vodka they can't sell? Simple, they own it and they pay ten times what it costs to contract some rectifier to private label some vodka out of Russia for relative pennies on the dollar to produce it and pocket 90% of the proceeds. If they sell any of it it's gravy. $50K in vodka inventory versus tens of millions in stock sales? Selling the vodka is a throw away. Not worth the effort it would take. Only put in enough effort to extend the charade of real product is all MRIB did. Dan Senters was a small price to pay and a calculated cost. Paying him for eight months was worth a hundred times that in stock sales and he probably came way cheaper than Paul Fuegner as well.
PRs, promotion, hype, talk and filling out government forms are all cheap, easy and take no professional skills. That's the only thing MRIB has done and it has people saying "why would they do it if it was a scam?" How about $32 million? That's what has been expended, and probably more to date on "going through the process." Ask yourself this... Add up all the things MRIB management and the company has done. All the advertising, sales efforts, Money TV, etc. and it adds up to so little. Would you go through that process for $32 million in pretty much NET profit before even considering the stock sale profits play? That probably adds at least another $32 million if not more.
Bottom line. Why would Margrit and MRIB "go through the process"? To make simple minded folks think it's not a scam doing the bare minimum to keep up appearances and making tons of dough off of the rationalizations of investors who want it all to be true. Based on the original question I'd say Margrit is getting paid $10K an hour for what MRIB has produced to date and it has little to do with selling vodka. That should answer the question. 64 million times... MRIB is a bigger scam than SpongeTech and with the Armenia connection, Imo, a more far reaching criminal enterprise. RICO, money laundering, insider trading, tax evasion, fraud, illegal conveyance, illegal conversion, SEC 144 violations, and most likely forgery of a few boiler plate attorney opinions. Imo it's all there. So, there's your answer. Money. A link to a registration to sell liquor that took twenty minutes to fill out, file and the stamp to send it was well worth supporting a multi million dollar fleecing of the public.
These must be housekeeping trades from Friday after close, no?
Here's another sweet little deal Margrit cut for herself back in 2009 from the last 10Q MRIB ever submitted. When she reinstated herself as CEO she was still owed $250K in severance. But she wasn't gone for good and was only gone for eight or nine months so the severance which was WAY more than her previous annual salary should have been pro rated. But it wasn't. She went on the payroll in July at $250K plus with salary, perks and stock and then, get this, made a deal with herself on the $250K balance on severance for 1.125 million shares. You know what the LOW average price for MRIB was at the time on a 180 day basis? $1.40 folks. Margrit traded in her unearned $250K non-cash contribution for as much as $1.6 million or more in MRIB stock and as I read the severance agreement it was a modification therein making making the shares immediately vested and free trading legend removed with a simple attorney opinion as to the terms of the severance package not her return to the company and subsequent new employment agreement. I doubt that's kosher or even legal but that's what happened and then MRIB went totally dark for the next three years... But still trading... All the way down to zero.
Must be nice to cut deals with yourself using other people's money. And from the looks of it, a lot of money. This stock selling thing makes selling vodka look like a total exercise in futility. Just keep up the appearance of a REAL company and a REAL product at minimal operational expense, issue some hype PR and do stock deals with yourself. Easy peasy. No corporate governance or internal controls, no auditing and a board action that requires no notice to shareholders. Sweet deal.
I believe it was stated that there was one, and only one person from MRIB that was reached and actually spoken to and dollars to donuts it was Margrit that answered the phone, not a receptionist and certainly not an employee. An answering service maybe but I doubt it. Just for shits and giggles, anyone in doubt should give MRIB a ring as I did. Anyone who's endured a MRIB Money TV episode will immediately recognize the voice and accent.
And I think everyone looks forward to a progress report let alone the late financial, as nothing has been forthcoming since the first week of October almost six months ago not to mention there's actually nothing known about MRIB activity or sales for the last two quarters now, one of which should already be officially reported.
With the six employees we had been made aware of, Magrit, Ani, Ari, Dan, Nina, Richard and the woman whose name escapes me right now, who was VP of Business Development, we know that all were gone before or around that period in October with the exception of maybe Ani but it could have just been the announcement was saved for end of year. I'd bet the money ran out in September and by end of October all that was left was Margrit. It has been reported, but unconfirmed, that two of those people left because they were not getting paid. Sure looks like MRIB has gone dark looking at the facts and events.
Absolutely on point. But I think there's a whole helluva' lot more double dipping than other jobs or moonlighting. We have an MRIB vendor that got paid for two new containers in less than six months on top of over another full container already in inventory and MRIB is lucky to have sold 5% of that in over a year!
And the vendor is a mystery in itself. No one can seem to find it or confirm its existence other than a trumped up web site that popped up out of nowhere a few weeks after the existence of the wine plant was questioned which coincidentally was created and registered as a domain out of... Surprise! Glendale, CA.
And what's the relationship with Zodiac Brands? We know Margrit is listed as past president. It makes one question what part of the catch all SGA is going to Zodiac and looking back on a fully reporting MRIB the $1.8 million listed for advertising in 2009. Anyone ever see any MRIB advertising? Ever? And there's others. NovaNet, Broadcast West and a half a dozen seemingly non-existent vendors in Armenia. Ever wonder how MRIB never gets sued. Other than Bodie and some marketing company years ago for chump change I've never seen a company blow through $30 million, become insolvent and fail twice, and not have a pile of creditor/vendor claims and lawsuits. Maybe because Margrit controls most if not all the vendors and would never sue herself?
And let's not forget the financing. Eco Investment Properties? What's Margrit's involvement there. At least two of the Eco board members are listed as MRIB board members and even list the same domicile address. There's where I think the biggest double dip could be. Eco got shares at huge discount. Think about getting shares at $.0001 at a discount to cash of 10% maturing last spring. For $100K they'd be sitting on at least $5.6 million profit in six months. WOW! And they seem to be control shares so they'd also have all the insider information right down to day to day operations. Nice.
As to the "new" CFO, you are most likely correct. I've said it in the past having read through these last few reports that they are so shoddy, sloppy and suspicious that no certified firm or CPA would touch MRIB with a ten foot pole or if a CPA brought the books up to snuff Margrit would never release them. The other possibility is MRIB didn't pay the guy which is not a remote possibility given the cash flow situation.
Next time you speak with Margrit maybe you should ask some MRIB questions outside of chit chat. I can think of a couple... What is her position on the late financials and when can we expect them? What happened to Costco? What is the name of the partner company in Brazil? Why has it been over six months since she said, and I quote, "the product is on its way"? Why did she say there would be no dilutive financing when she had done exactly that just a month prior to that public statement and much more immediately after?
And since its a public company, I think shareholders would like to know what justified her reported 2009 fiscal compensation of well over $3.3 million for 1 month of employment? And how much has she received in cash and stock since then? We know she got over $1 million in October 2013 alone. I'd personally like you to ask her if she's sold any MRIB stock? I don't see any filings and I find it hard to believe she hasn't.
Last, ask her if she can detail the method MRIB employed to removed the legends from restricted stock in apparent violation of Rule 144? I'm curious whether there is some kind of loophole. And regarding that issue, you might ask her why she allowed or facilitated the removal of the legend when she had to know the stock would flood the market and destroy PPS.
There's plenty of things to talk abou with Margrit but all I've ever heard is sappy tales about Margrit making home made hooch with Granny and how she feels she's been persecuted for doing nothing wrong, was surrounded by bad people and is the victim of bashers, yet she was alone at the helm in both cases of massive failure and what is hard to deny looks like a textbook stock scam. Good luck. Say hi for me.
Yes, I have tried calling the company. Margrit answered. Seen and heard enough Money TV to know it was her. She asked what the call was in reference to and then said Margrit was at a meeting.
As far as the rest of it? You are kidding me right? You could call my house and ask for the nuclear engineering department and I could say they're out at lunch. Must have nuclear scientists at home though, right? Are people really that guilable? And why would a company that sells $2500 a month of product at best have a person for A/R and A/P? They had a controller, a CFO, a CPA firm and TWO staff accounting people and still can't get out the financials on sales of $2500 a month? Use some sense man. Trust me there's no one at MRIB except for Margrit... Oh and whoever is involved with the four or five other companies operating out of the same address and suite in Tustin like Eco Investments. And a third party IR firm to refer investors to is no better than an answering service because they never have anything to offer. And referring you to her friends at Remedy
Liquor, the only place they seem to sell any vodka, is probably just buying direct from her in some way, shape or form. Why not say you're in NY and ask for a retail location?
So you asked for accounting? Which department did you ask to speak to? We're you connected. The story is sort of shady as it ended with you going from askng for accounting, not speaking to anyone and then on to ordering product... Hmmmm. I'm also sure if you said payables they would have taken a message. Receivables, Margrit would have said "I can probably help you out." How about some MRIB employee names?
This is the kind of MRIB DD that has sunk so many investors. All rationalization and speculation based on ambiguous information. No names, no real contact. Just interpretation of what Margrit says.
I'm very curious to hear if anyone has any response or thoughts regarding the fact that Margrit and/or affiliates have received close to millions of dollars for a little over three years of being the CEO of an actively operating MRIB? She definitely got the money. Does anyone truly believed it was deserved or earned? The only period MRIB recorded any sales to speak of was when she was gone.
Maybe that was the problem. Maybe MRIB under Paul Fuegner wanted to sell vodka and Margrit cam back and said no. That's not our business. We sell stock.
While I would concur that the tone of some is over the edge (take note WWW), I haven't heard any comment about MRIB claimed as fact that wasn't or isn't true. Conversely, many long investors or possibly MRIB insiders continue to speak in a deceptive way of non-events as though they were facts. "Talked to Margrit." "Good things coming!" "Revenues increasing!" "Brazil to ship soon!" None of these statements are true or even close to factual
Given the current situation and past events it certainly looks like it's coming to us from either inside MRIB or longs desperately under water trying to keep the stock afloat. If it's a MRIB operation, shame on them. Anyone who sees MRIB at this point with absolute optimism and euphoria has other intentions because there is nothing MRIB positive right now. It is an insolvent, dormant company with one person and no sales that appears to be continually enabled to unload shares to the public far in excess of any vodka sales let alone much hyped and promised wine, brandy, beer, etc.
And which is worse for MRIB investors or potential investors in the company? Ambiguous unsupported hype and overly optimistic falsehoods proven such through lack of performance and delivery by MRIB, OR poorly delivered facts (take note again WWW) about MRIB operations past and present? MRIB's PRs, exaggerated claims and outright lies have been proven beyond a shadow of a doubt. That's fact. Dilution is the only one I have to list from the many as it was an outright lie both before and after the public statement. To suppress the ugly truth or to censor a contrarian view is no better than a lie.
To state "things are looking good" when MRIB has been dark, silent, unreporting, unaudited and publicly reported insolvent (see last financial report), having lost their biggest client in Costco and failing yet again to ship let alone name a distributor on the Brazil ruse is like supporting Bernie Madoff and saying "great annual returns! He's innocent". What's the intention other than deception and/or some type of personal gain?
Time to face facts. MRIB has gone dark as they did in 2009. No money or people left. Every hyped PR has proven BS. Bottom line is MRIB investors have been saddled with a $30 million loss with nothing to show for it. Discussing the problems isn't the problem. Suppressing it is.
In discussing the company, I think most folks would like to seek truth rather than be mislead with false information about non-existent MRIB operations and future positive outlook without a shred of backup, support or proof.