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And are we to believe that MRIB, a company with a market cap of over $20 million less than a year ago with only three or four employees and no sales and is now a one person operation with a market cap of $600K and obviously entirely out of funds is not fishy? Certainly wouldn't come close to passing the SEC smell test. And the $30 million accumulated loss with what appears to be a lot of unaccounted expenses and outgoing cash and stock is starting to look like one the SEC might give some attention. There are some big numbers there. It might be big enough for the SEC to take a look see. They went after Spongetech with a vengeance for a lot less and for anyone curious, the complaint against Spongetech reads like a blueprint for MRIB. It's a good read btw. You will find yourself making comparisons to MRIB on every page.
It is almost exactly the same as 2009. Went dark in September and never heard from them again other than a last filing demanded by the SEC for the period ending June 2009. Coincidentally that last report and the last MRIB filed as a reporting company lists payments to Margrit of over $2.8 million is cash and stock not to mention another half a million for a severance plan. Interesting because she didn't work for the company for 10 months out of those 12 months.
Another interesting line item was $1.8 million for advertising. Anyone ever remember seeing any evidence of advertising? $1.8 million worth? I think not but dollars to donuts an affiliate vendor got paid for doing nothing. Zodiac or NovaNet most likely. Bottom line is a boatload of money went out of the company for a lot of mystery services and MRIB bought off having to file those financials for months with letter after letter to the SEC stalling to meet their demands. Numbers I'm sure Margrit didn't want investors to see to keep the stock trading as long as possible. I'd say the same thing is happening again now.
And remember that Margrit got $1 million in stock that would have cleared safe harbor and could be made free trading just days after the last financials we've been given. I wonder if Margrit got a nice $1 million chunk in addition to all other stock and cash compensation. Only that late and missing report will tell us. But it sure looks like Margrit has made a ton of cash from MRIB. I count no less than $8 million and for value of nothing more than her services as CEO for less than two active years. For those so adamantly stating Margrit and others are not and have not been lining their pockets perhaps there's an explanation for where all this cash went? It's starting to become very clear how a $30 million deficit came about with just a whole lot of undeserved compensation and a ton of fabricated expenses.
One side note on that last official report in 2010. For the Wine Plant of Eraskh Kool aid drinkers, there is an agreement in the report giving MRIB a right of first refusal for all business of Wine Plant outside of their exclusive territories. If we are to believe the recently created web site for Wine Plant, 47 years in business, multiple lines of products and 160 employees and the amount of business and sales that would represent why would MRIB not exercise their right and scoop up all that business for the same cost of selling $2500 worth of Marani in the US only? Makes no sense, does it? It makes sense if there is no plant, no products, no sales outside the U.S. and exists only in name for appearance and believability just like a previous generic trumped up letter of intent from MRIB to buy the plant.
If anything is going on at MRIB it's how to keep the stock trading. With a single operator, no sales and an insolvent shell company, the threat of trading being shut down becomes very real. Might be a moot point if the insiders have completed their dumping and exited. But it would appear a group or an individual has been selling off an average of 4 million shares a day for the last 90 days at basement prices. Sounds like Margrit's monthly nut Imo. I'm sure if it were to be her she doesn't want the well to run dry.
But the SEC has a full court press going against OTC stocks fitting these criteria. I wouldn't be surprised if MRIB has or may soon see a letter from enforcement asking for details regarding customers and vendors mentioned in their numerous PRs and on Money TV. From the outside where we all stand there seems to be no evidence of a legitimate on going concern. I don't think the SEC would see it any differently. Like many of us they would not be satisfied with "good things coming", "Brazil to ship soon" and the rest of the BS. They would ask for material proof. It would be one MRIB couldn't talk their way out of.
Things change? What has changed at MRIB in a year? More importantly what's any different than five years ago when they ran the exact same scheme?
And what's to indicate anything is going on behind the scenes? Lost Costco. Soon to lose Total Wine. Brazil has proven to be the same hoax as India was five years ago. No employees left. No sales and no sales force. No advertising. Biggest of all, no money. How or what could possibly be happening? Preparation of paperwork for a reverse split or a bankruptcy?
If anything were to be going on we would have seen financials. No need to post them if the company is shut down.
So, if smart money sells when the investing public is in a confidence zone, and it's just a matter of time before MRIB enters a confidence zone, we will see lots more selling soon?
And I don't think there's any sentiment of fear. Just frustration, bitterness and a general lack of interest in a company and stock that has literally disappeared. Still no financials, no communication from what's left of the operation which is Margrit, a handful of Southern California retail stores, no Brazil no sales and an empty bank account. This goes without mentioning deficit and debt. Where is a MRIB confidence zone coming from?
All the technical jibber jabber, DMA, convergence, accumulation... All imaginary. There's nothing technical to apply to a dormant company other than gambling on if anyone is left out there naive or silly enough to ever value and buy the stock as if it were going somewhere. What do technicals matter if we never hear from the company again? The technicals assume ongoing operations and there's little sign of that at MRIB.
Someone please correct me if I'm wrong, but how did MRIB issue over 1 billion new shares in unregistered stock transactions since their last affirmation and legal opinion on SS? Second, how did MRIB get the legend removed on all of these shares without a legal opinion or does the transfer agent have such on file? Third, how did both restricted and control securities get into the open market and around Rule 144 and numerous restrictions? It is my understanding that any restricted shares which they must be as they were unregistered transactions, must be held for at least one year in the case of a non-reporting company/issuer, MRIB.
It's quite clear that of the shares issued in the last year few if any have been held more than a day or two after issue. And the removal of the legend at issue requires the exclusive permission of the issuer, MRIB in addition to a legal opinion confirming the exemption to Rule 144 for any certificate issued. This also means that Margrit and MRIB knew damn well that the shares were going to be dumped and she made it possible. Stories about Margrit thinking the shares would be held are absurd. What I see is a shoddily orchestrated stock scam that broke all the rules.
Maybe I'm missing something but I went back to review 144 and I don't see how any of the private tranactions meet any of the exemption criteria. Not without the help of a crooked attorney or transfer agent. There are also a number of other rules that appear to not have been followed. Obviously, just based on volume, Eco Investment dumped more than the maximum allowed of 1% of the O/S as did Bodie and others. Last and most applicable to Eco, where is their 144 filing for intent to sell which is required from any affiliate receiving shares in an unregistered transaction? We know MRIB and Eco not only have affiliate relationships with Eco but the shares most likely would be considered control securities as the MRIB and Eco have common board members.
Anybody have any answers?
P.s. It also looks to me the last opinion submitted on SS was a violation and legally actionable. The attorney affirmed that the O/S was 179 million when it was already close to double that.
Because they got it for a lot less than $.0005 which you have consistently denied happened. What's your explanation? Sell consistently at a loss?
No Joerich... I think Margrit needs to cover her real estate deals and needs that $60K a month. Just ran out of time to keep the charade alive. Bills come due every month. Tried to give the impression of active trading and a possible run up and has her minions promoting it but lack of cash is the ultimate obstacle.
She's not working on MRIB. Like 2008 she's in need of cash. Not sure how she's converting but I bet she is and that's illegal without filing. But if you told me that Margrit and family has not sold a single share, I'll eat a bug.
No. It was almost 2.1 million shares at $.0005. Check your numbers. It's obviously the same thing going on every day. Why deny it? Why would someone sell 2 million shares at $.0005 when the PPS is at $.0007-.0008 when it's obviously a loss? The stock hasn't been available at $.0005 or less for months. It's someone who paid very little or received an award of stock for no cash. All proit. Whole bunch of those for Margrit on the record. $1 million worth when the stock was still trips back in September 2013. Can't imagine how many shares she got but it must have been a lot.
Someone is selling off MRIB at an average of $60K a month at basically the lows of any given session. Just fact. Check the charts and numbers.
And don't worry. There will be plenty more. They'll try and keep it above $.0005 for disposal purposes but the fact remains MRIB is going nowhere. False run attempt didn't work.
And that was followed up with a $7 trade. Keep trying to save it but there are other forces in action that make the common MRIB shareholder powerless. Spending $7 less $18 in commissions for shares worth $5 may save face or make someone feel good for a while but how long is it going to continue? The MRIB "highly discounted' shares keep biting back. Sooner or later the desperation paints will prove futile. I said we'd see those 1.6 million shares come back later today and so they have. It's getting so predictable.
There you go... All two million in one shot at the low. Told you it was coming.
Bodie was awarded cash? When was that? He got shares and his original note reinstated, previous principal loan repayment and interest well in excess of his original investment just a lot less than Eco. He got his new shares and the note back in place as a result of dropping his lawsuit which MRIB was dead to rights on. What did that cost him? Ok. His legal fees are his basis. Minimal compared to what he got which was 100% of his original deal he already made money on. I'd take that and sell it all at whatever I could get on a dead insolvent company, two million dollars in debt with one employee and no revenue.
Again you're arguing semantics. There are lots of folks who got MRIB stock without stealing it at heavily discounted prices. It's in writing from MRIB. How can you deny that? Look at the reports they issued. Just a fact. And Margrit and family paid nothing. I've scoured the old financials and the only evidence of any investment in the form of cash for all three siblings is $2,800 over the fourteen years since inception. Conversely, they received millions in salary. She gave herself $1 million in value for salary deferred/accrued while she wasn't even employed plus all her perks, plus a $405,000 cash payment as severance... CASH. Then she topped it with a big chunk of preferred shares we don't know the terms of. Trust me there's plenty of people at little to no cost basis.
How much did Bodie pay for his new shares? He cashed out on what he had first time around at a tidy profit. Do you think he put any more money up? Doubtful. Just a credit in shares on what was already paid in. Do you think Margrit put any money in or any of her family? Records show a negative on that. And Eco Investment Properties, basis for the Bodie suit, is documented at $.0001 which might as well be zero. God knows how much they made with the peak to $.04 and a dividend kicker.
Point being that all the sell volume for the last 60 days and more is at prices that would indicate significant losses. I don't think that's the case unless some insiders know the jig is up and something is better than nothing. That said, conversely, if insiders knew anything good was up we'd see significant volume at higher prices but we're not seeing that. If someone has the "inside scoop" they don't buy $20 worth.
Again, I think you're missing the point. Whether it's zero cost basis or a highly discounted cost basis it has tons of room for total profit. We commoners do not have that benefit. That's been my argument all along that MRIB went to toxic funding instead of appealing to their shareholders with the same or even better deal for MRIB. Makes you wonder why? If you were offered MRIB shares at $.0001 a year ago when the stock was at $.03 and higher wouldn't you sign up? Sorry, Margrit saved that for special folks.
You're not following. If I have 60 million MRIB shares at zero cost basis and price support it every once in a while with a loss trade giving the appearance of a "run" in progress it's a win-win. So I lose $.0001 on throwing the shares purchased back in a higher volume trade at $.0005. It's still a net gain of more than $.0004 and depending on the volume differential, even less of a loss. Free money too. And it supports PPS, gives an impression of trading activity in what is already a stock trading so thinly a $10 trade can move it 25% and flippers get the impression there's spread and keep playing. It's not a difficult nor complex concept. Could be someone doing trades with themselves for all we know where not a penny goes outside their circle.
The incorrect assumption you're making is that all the MRIB trades are from common MRIB shareholders with a cost basis and at risk. It sure looks to me like there's someone or a group of people trading with stock they didn't pay anything for. As I said, the volume sold at lows so heavily outweighs sales at any profitable prices or premiums we're seeing tell me that it's either that or $60K a month is being lost among common shareholders.
Sure. I did comment on those trades. They'll be coming back piggybacked on larger volume at lower prices. Minimal loss and cost to keep the PPS up and make those $.0006s and below look like bargains and move larger chunks of zero cost basis shares. The old bear trap.
That's why I think it's someone like Bodie although looking at it and knowing the situation I wouldn't be surprised if it was Margrit doing it somehow. The average over the last 60 days is just about what I would assume her monthly cash nut now is. And 90% of that volume was sold at lows so it's either someone losing lots of dough or someone who got the stock for nothing just cashing in methodically. Throwing a couple hundred dollars at MRIB at premium prices every once in a while with what looks like a decent size trade is a small price to pay for being able to support PPS and sell off $60K a month while maintaining appearances. It's all profit anyway. What's losing $.0001 or $.0002 if you pull in $.0005?
But the trades of less than $20 are so obvious. Who buys $20 worth of stock let alone at a 25% premium? What's the motivation? And how is it, being as stupid as we all know it is, we see it three or four times a day? Let me think... I'm going to buy $20 of MRIB at 25% above market, pay $18 in commissions and... JACKPOT! If this baby doubles I rake in enough to go to Subway! $5 dollar footlong...
Oh really. Come on. It's just another play on the whole MRIB Brazil ruse. Same pig in a different dress. Just another unprovable, untraceable and unconfirmable variation of previous PR and an attempt to keep the Brazil fairy tale alive.
And the agreement could very well be some trumped up meaningless document created only as a cover your ass memo with no intention of any execution or implementation. As always with MRIB, no detail, names or terms. And what's it been? Two months since that PR and not a single update or hint of progress. No shipment(s)? What's it going to be for an excuse this tie. Tax stamps and increased US demand were already used.
There is no Brazil operation other than Margrit's plan ("Operation Brazil Ruse") to exploit shareholders with deceptive misrepresentations about some fictional SA pot of gold for MRIB.
Bottom line is Margrit keeps playing the same Brazil card and she has no credibility left no matter how she twists, reworks and regurgitates the same already ambiguous and unrealized SA deal(s).
Yes, another $20 MRIB trade moving the stock up artificially. Three of them today of less than $52 total... less commissions. Just a setup for continued dumping of what appears to be zero basis stock.
Should see those 1.6 million shares bought at market come right back piggybacked on a larger sale at the "bargain price" of $.0005. It's pretty transparent what's going on. I'm shocked anyone believes it but I guess there's one born every day.
Maybe it's just someone trying to get something rolling and willing to see if he can produce a bump to exit this POS. Doubt we'll see much volume at the premium prices. Point is no one is making any money with a 20% increase of $50 worth or trades. Charade or bear trap? We will see.
How could anyone miss it? MRIB puts the same PR out four or five times a year.
I think what was being referred to was that there was no "merger" which is a far more significant and material event versus a mention of a joint venture with no specific details or terms which could be nothing more than a LOI or minimal arrangement.
To illustrate the absurdity of Brazil making everything work for MRIB just take a look at the chain of events and logic.
In September, Margrit claimed product was on its way. Then it was tax stamps. Finally it was coming to the U.S. to cover increased demand which we know wasn't true. So, if Brazil was real and MRIB was getting half the money upon shipping why on earth would they not do everything possible to ship to Brazil? They weren't selling anything in the US.
And, if the demand in the US was greater than Brazil, the demand in Brazil must have been zero. The fact that nothing has shipped to Brazil still is clearly evidence that the deal if it even exists involves no money up front, no guarantees, no nothing otherwise MRIB would have done the deal and shipped. Why give up on a supposed sure thing and bird in the hand? It's obviously a BS story.
Last item that doesn't pass the smell test is factoring. Anyone would finance MRIB if it involved payment up front for at least a large portion of the guaranteed funds and it certainly would be better than the toxic funding MRIB embraced. The paperwork was a fraud, the FINRA letter a ruse and the whole story a twisted misrepresentation concocted to create interest in the stock play.
And just for the record, there is only one distributor listed in Curitiba Brazil for spirits and it's a small time regional distributor of mostly fruit and juice. Just adds more doubt to this mysterious unnamed distributor. In the three or four years this whole Brazil story has been floated it's amazing to me that not once has a company been named. And please spare us any reference to Junior Faria and Qlimax.
Brazil will launch MRIB in the US? Well ain't that the tail wagging the dog.
The question has been asked and gone unanswered... If MRIB can't sell at home how are they going to sell anywhere? Do products sell in Brazil without branding, marketing or advertising? Is there an entirely different retail system in Brazil? Does the distribution channel work entirely different than that of the US? Is television, print and other advertising free in Brazil?
The answer is that selling in Brazil is fundamentally no different than selling in the US which MRIB has clearly shown they are incapable of doing not once but three times over the past 14 years, seven of which were capitalized with over $30 million of investment.
Fact is MRIB could ship as much vodka as they could afford, which is probably not much, but it will never sell just as it has never sold here in the US. To think some vodka sales utopia exists in Brazil is absurd. And MRIB will not get any money up front, I guarantee that. Anything they would get will be full recourse until sold because no distributor in their right mind would pay up front for a new unadvertised and unbranded product with no existing user base or existing run rate. The letter of credit story was a bunch of bunk and a twisted interpretation to give the appearance that MRIB would be getting huge dollars as soon as they shipped. Not true. The only point at which MRIB would get any non-recourse funds would be on retail Brazilian sell through. That's just how it works.
Bottom line is MRIB can't sell product in the US or anywhere for that matter.
Thank you for confirming my point. Charts, technicals, trends, etc. are meaningless in reference to the operation of the company and in this case a company that is no longer operating.
That's nonsense. Technicals derived from a dead shell are just convenient mathematics. It's like doing diagnostics on a car that's not running. Saying everything that goes down has to go back up is just wishful thinking if it's dead. MRIB is dead. Nothing left. Nothing to analyze or bet on other than time of death. Trends on trading are fine if the company is an ongoing concern. MRIB is not. Any trading is speculation on the eventual salvage value of the shell.
Technicals apply to an ongoing concern with cash flow, sales and other consistent financials. MRIB is a dormant shell. No technicals apply. Applying technicals to MRIB is like looking for a pulse in a corpse expecting a heartbeat because ther hasn't been one in a while.
All those MRIB flippers who got suckered in to the $.0004s now trying to collect some chump change but there are no takers. Not very smart and now stuck. Can't say I feel bad though. Mostly little money but all the same. Lesson never learned.
When you see a million shares go across at $.0004 and then 10,000 shares at $.0006 a few minutes later, one should take notice and realize it's artificial price support and an attempt to create the appearance of profitable spread. The trading is so thin it's easy to do and cheap. The smart money calculates and analyzes volume and as we've seen, stays away, including the financiers.
On the other hand, the dumb penny gambler just sees MRIB trading at a 20% premium almost everyday, blindly calls it a trend, and gets on his calculator figuring out how many shares he needs to buy and how much money he's going to make on the spread without taking into account the possibility of having no market for the volume needed at the higher price. Just silly uninformed and uneducated gambling.
Pretty simple. Just look at the volume over the past three months at those lower prices and the volume at the premium prices. It's like 90%-10% or more. Someone is losing in that bet and it ain't the guy (probably Bodie) selling big chunks at $.80 on the dollar and price supporting it at a penny or two on the dollar with some tape paint. He spends a couple of dollars keeping interest up and the flippers just see imaginary dollars. Throw in a couple of longs who for some reason still have faith and or think there's something to averaging down on a dormant shell and bite on those lower prices and it's a great deal for someone. Not the buyers though.
Let's face it. The company is broke and dormant. Can't do anything with no cash. I don't think we're ever going to see the financials again either. Costco, Total Wine, Restaurant Depot? All busts. MRIB is simply floundering and has nothing and nowhere to run, it will just wither away as the clock ticks with nothing going on. Like a sunken ship with no treasure. Corroding away on the ocean floor losing salvage value with each day.
Lack of interest... Just folks waiting for December 31 to get the tax loss.
I really don't think any one "controls" the board. Margrit and MRIB have just created such negativity through their actions that there's nothing good left to say. All credibility of MRIB, Margrit and the longs has been lost. What could anyone say about MRIB at this point that is positive? They haven't filed for bankruptcy? The web site is still up? They've reduced their expenses by firing all the employees? They're still available at HighTimes? Really, what's left other than broken promises and bad blood?
Interesting that Zodiac Brands seems to have gone dark as well and their website has been down now for months.
I'm confused as to what you consider proof. I called Costco twice, Once a month ago and then again two weeks ago and both times they said they had no Marani vodka or any reorders in any of the 14 stores except Burbank, the first time I called when they said they had a reorder that was two weeks late and the next time, delivered but not available. Three other people called and pretty much got the same response. Isn't that proof positive that you can't buy Marani at Costco except for maybe Burbank?
Total Wines is easy. Just use their query system for inventory. It's the same as it was six months ago for the most part give or take three or four bottles. What further proof is needed?
The last financials posted by MRIB show a cash deficit of $15K and negative cash flow for every quarter they've been in business. What more proof is needed to prove no cash on hand? Just simple math.
All of the MRIB employees have posted in other mediums they are either no longer with the company and/or listed new jobs. Again, what more proof is necessary that they don't work for MRIB anymore. Are you saying they represent they have other jobs but still work at and get paid by MRIB? Do we need to hear it from MRIB before it's proof positive? Good luck on that.
These aren't opinions, they are FACTS.
You are correct that MRIB only provided information on one employee leaving. They didn't bother to tell us about the others. It was discovered despite MRIB trying to suppress the fact. There were at least four others including Dan not to mention a mysterious marketing director hired in August according to Dan on Money TV.
And we know for the most part who the MRIB employees were and always have been and we know they're all gone. How about proof of new hires? And we all know there's no marketing or advertising, or are they doing it secretly for the benefit of their "secret" retail locations that they don't want to tell anyone about? Remember those? As I recall the absurd logic was that MRIB didn't want to give away their customer list.
If this quarter is any indication of where MRIB is going then we might as well turn off the lights and call it a day. The MRIB situation is dire. No employees, no cash no more financing, no sales force, no marketing or advertising and an incompetent CEO who can get out a hundred bogus PRs but not some simple financial results.
As far as revenues, the situation is just as bad. The quarter is over in a week. Total Wine sold almost nothing. They lost Costco. Brazil never happened and obviously never will as MRIB has neither the resources or staff capable of doing anything let alone pull off a foreign deal. It's questionable now that MRIB is even in operation as they have gone totally dark and silent. As the product gets discontinued at the few California retail locations they had with seemingly no action or communication from the company and no new sales or news it would appear that the whole operation is shut down and dormant. Just an abandoned she'll company that happens to still trade publicly, as long as they remain silent that is.
The $.0006 was the paint job. Why would anyone paint it low? That's such nonsense. Oh wait ... I forgot about the mythical shorters.
Flippers who bought those $.0005's are licking their wounds. Stupid. Bodie just tricked you into buying his MRIB shares at $.0004. He made 500% profit selling 4 million shares a day or so for the last month. Smart guy. Company is shut down. Go visit. They're out of business and Margrit is out shopping.
Spec, Why do we not have MRIB financials? Any response?
An excellent point and a question that I'd like to hear an answer to.
How is selling in Brazil going to be any easier than selling here in the US? What's the difference? Is the market different? What factors could possibly be cited? If anything selling abroad presents far more complexity and effort. It took Margrit and MRIB $30 million to set up a domestic operation that can't sell any vodka so what's it going to take to do it again and actually sell something?
The thought that MRIB could sell $100 million worth of vodka in Brazil and can't seem to manage to sell more than $20K worth of product in the US in over a year is so patently absurd and unsupported as to represent total lack of thought and delusional wishful thinking.
Again, the argument that the MRIB outstanding share count is good for an OTC stock is absurd. Share count is meaningless in valuation without considering revenues/earnings and other financial components. MRIB has no revenue, no cash flow and mountains of debt. An OTC company with five billion shares out but with even as little as $1 in earnings is still a better value than MRIB. Valuation in the case of MRIB as with most OTC stocks is reliant on a multiple of gross revenue les COG in the absence of earnings. 3X is considered on the high end which applied to MRIB represents a market cap of roughly $100K. Now we have something to apply share count to! At 1.2 billion shares out, MRIB PPS has a hgh value of $.000083. Pretty simple stuff.
That said, the more likely case as to what seems to be a break in dilution, is the lack of any financing sources. MRIB cannot use traditional channels and has been entirely dependent on toxic convertible debt. The idea that MRIB secured any private financing, let alone from Bodie, is just too far fetched to consider. The problem is the MRIB convertible piggy bank has run dry. The aforementioned PPS and the current PPS are no longer attractive for the toxic financiers. There's no downward run room and no reasonable spread and the risk of where MRIB will be in six months is far too significant. Six months ago the PPS was still at $.01 and even at a huge discount to market a convertible at .001 was attractive to the Sharks. Now they have to look at a contract price of $.00004 at best and upon conversion having to unload billions of shares. None of them will touch that deal. Margrit destroyed the value of the MRIB stock and it's no longer a financing tool, toxic or not.
Add to all of this the fact that the timing seems to be right in line with the company having been shuttered back in October. Money ran out, no financing available, employees couldn't be paid, etc. Any convertibles from back then would have matured by now. I think the last money MRIB could arrange was back in August-September and those conversions, over 400 million shares from middle of December up to the beginning of February was the last of it.
Realize also that the most financing MRIB could get out of the remaining A/S is less than $300K at market price. They've been financing at 1/10 at best of that... so $30K is all that's left. No money left. It's over.