Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Also interesting is that MRIB has not renewed their California ABC license. What would Margrit do if she did a deal with a wholesaler or distributor today and in doing their routine check found MRIB to be selling without a license? Or maybe she just doesn't plan on selling any more vodka so why bother? Bottom line is right now MRIB could not fill any orders even if they had them lacking any proof of a license that any reseller would check.
Our License Query System (LQS) is updated soon after your expiration date. If your renewal was paid timely, the expiration date will update to show that your license does not expire until the following year. To access LQS, http://www.abc.ca.gov/datport/LQSMenu.html. It is recommended that you direct your distributors and those requiring proof of your license status to our query system. Many distributors and wholesalers already utilize this system regularly.
Or, maybe Margrit shut it all down, stopped paying the bills and employees back in September because she couldn't get any more lenders? Maybe there aren't any more conversion shares. Perhaps all that's left is Bodie.
Has anyone ever paused to look at the O/S and capitalization? We're talking about $600K spread out over 200 or so investors. Seems to me most have said they'll sit on that loss and it's not worth selling. We're only talking about a few thousand dollars each, probably a lot less when taking out the larger holders. It's a dead stock with a couple hundred bag holders. That's what's now left. The insiders having done their looting are probably long gone.
We've heard the "new deals coming" routine so many times and nothing ever happens or it's some huge exaggeration. It's getting old. Folks, there are no deals coming because there's no company to do any deals. Who in their right mind would do anything with Margrit and an insolvent shell of a company with no cash, assets or resources? Deals coming? Absolute nonsense. And every time that rally cry is heard it comes with absolutely no facts or support. Just fabrications trying to get people into the stock. The only good thing is those that have been doing this have lost all credibility and hopefully are now pretty much ignored as everyone knows it's all hogwash. Their lack of credibilty is matched only by Margrit and MRIB.
So folks, when you hear "new deals coming" ignore it because MRIB has done none and will do none. When you hear sales are very good, trust me, it's not true. They've lost most of any volume they had and it's only getting worse. Just underwater longs trying to save their worthless stock. When you hear how great Margrit is as a CEO, check her track record. She's a train wreck. She can barely form a complete sentence and can't get out financials that could be done in a matter of a few hours at most. Maybe she can't do math... Or maybe she doesn't want anyone to know how badly the company is doing... Maybe both. LOL
Keep in mind that MRIB is broke, has no sales, no employees, no assets, mountains of debt and a massively diluted stock base that requires further dilution just to keep the lights on and is now not just unaudited but entirely non-reporting. There appears to be no operations at all. Actually, for all we know the office may be already shut down. Why pay rent when there is no company?
Just all of those so under water on MRIB they've given up until end of the tax year to sell. That's why trading has died. No one buying and those reluctant to sell holding on to false hope and their worthless shares hoping for another Margrit lie that will give them an exit.
The selling is probably Bodie metering out his free shares to idiots trying to retail it at above $.0005 to make lunch money. Nothing to lose for him. It's all profit. And it's surprising how some of the penny traders are happy to make $20 on a trade. Total bottom feeders.
Trading is dead. Just flippers out there waiting for the next dump to try and pick up some $.0002-.0003 shares. No more spread for the MMs so they're done with it for now. There's no accumulation going on. Just chump change sell off of zero cost basis shares with no risk of holding. Company is now just a shell supporting Margrit and providing a playing field for the last of the convertible holders. Put a dime in this it will be zero before you can blink. Brazil is a total fraud. "Ready to ship soon"... Well it's been a couple of months since that last one. Just like India in 2010. They finally lied about shipping there and went dark shortly thereafter. It never shipped just like Brazil will never ship.
Can you enlighten us as to what the SEC considers a shell company in your research? I looked into it and it certainly seems the SEC would consider MRIB a shell company. One employee, no sales, no assets, insolvent, non-reporting, non-compliant and unaudited. No annual meeting and no shareholder notifications or communications but still trading. That's a shell company according to the SEC shell-expel mission statement.
No reason to hide the numbers with the PPS sitting at $.0005? How about the stock going to $.0001 when people find out there are no sales? How about not wanting to see the price go there before a big fat convertible matures?
What is the logic behind "nothing to hide" while the stock is at $.0005? I see lots of reasons. Are you saying that MRIB couldn't go any lower? If so, I think you're sadly mistaken. In 2010 it went there under the same circumstances the company is currently facing.
Fact remains is there's no reason the financials haven't been released other than they don't want to do such for fear of the effect of bad news unless you have another explanation. We all know all too well that if it were good news we would have had the financials on time if not early. Instead we got 250 million shares of dilution a week prior to the due date. I think the funds those convertibles covered MRIB for a little longer than usual because Margrit stopped paying people and bills six months ago but it will run out soon and there's one more big wave coming. I'd say the convertibles are covering Margrit and keeping the doors open at this point. With no revenues from sales money has to come from somewhere.
MRIB a Shell? Well, yes. What would you call it? No employees, no sales, no communications from the company or management. They've gone dark. And now MRIB has apparently stopped reporting. The only activity is limited low volume trading in the stock. That sure sounds like a shell company to me. I also don't think it's anything to laugh about Dawg. Can you identify anything MRIB has of value? Sales, assets, etc.? Without anything there it's a textbook shell.
Just a $5 paint trade to keep it at $.0006. There's plenty of shares available at $.0006 if anyone really wanted them. Problem is no one wants MRIB because they now know it's just an empty public shell with no sales, assets or substance.
What's a public shell worth these days? $250K? About a quarter of the current market cap? Guess that might fetch $.0001 per share. Doesn't have the mining company stigma either.
You say the numbers for this quarter will be very good. What are you basing that on? The quarter is over in three weeks. Costco is down to one outlet. Total Wine has sold less than 6 bottles. There will be no foreign sales. Those are just the facts. Where are these very good numbers your touting coming from? The endless touting of MRIB good news coming, months on end, without any support of such or actual news coming from MRIB is becoming a broken record. It's gotten so bad that folks previously MRIB believers are begging for a Margrit fluff peice because they know there's nothing good that's real... anything to keep the stock afloat before the next round of dilution and/or reverse split.
Face it, there is no MRIB news coming, at least none that's good, and everyone should know that and the numbers for both this quarter and next will be horrific. To buy own MRIB at $.0005 is to start out at a 50% loss that will quickly turn into a 100% loss. If there is news, tell us what it is but we've been hearing that since October and there has been nothing but bad news and dilution.
I would like to know Gold how you see a company with one inexperienced person create and maintain anything that can support what is probably now a SS of close to three billion shares. Do you have any idea what kind of gross sales will be required to even maintain a share price above $.0001? Where do you see that going?
What news would that be? It would be nice just to get the financials. The question is will we EVER get them now? They must be really bad. Obviously keeping them suppressed until the next round of convertibles matures. The 200 million plus shares from last month are probably just about out of gas. Anyone check the O/S lately?
And they haven't. No employees, no cash, no sales, no company. An uneducated troll running the show with no education or experience hooked up with a bunch of hip hop morons? What does that tell you? What's she doing at a promotional event for some random design company in NYC? What does that have to do with selling vodka? It was a friggin' NYC vacation on MRIB dollars and yet another party.
No they don't Chewie. No market maker will do it. Show me one example of it in the last ten years. You won't find one. I continue to ask for it and you provide no support. It can't happen because no one will put up the cash to try and short a POS for a couple hundred dollars at best. You have no idea what you're talking about. Have you ever tried to short a stock under $5? The market makers aren't going to risk it for the tiny profit they MIGHT make. One, it's illegal without a find and two it's not worth it. THere's no money. The money is getting a locate, taking the promotion money and trying to retail out at a spread. You obviously don't get how MMs work.
Hey Spec, just curious. Where do you think MRIB spent $32 million? No one seems to have any answers to that question. I give my kid a hundred dollar bill at the game for a couple of sodas and hot dogs and get no change? Ok, a foam finger. Where's the rest? MRIB has no justification for the $32 million. Obviously you do. Can you share that or is that sort of like the MRIB "secret" retailers and distributors they don't want anybody to know about? Or possibly the mysterious revenues that will magically appear this next report which is over a month late. And why did Margrit buy another container with $300K already sitting in stock? Because she owns Eraskh. Bet my bottom dollar on it now. Probably paid $300 a bottle.
Where are the financials? Why are they so late? They must be scared shitless to release them. My bet is they lost most of Costco more than two months ago. No stock at Sacremento when I was there didn't make that much of an impression on me but finding out there was no stock anywhere except Burbank three weeks later.. that's another story.
Margrit could care less about vodka sales. Just about keeping the stock trading. I've seen scams trade for ten years after proven a scam. One in particular operated almost twenty years without one nickel in sales and got to a $400 million market cap and $45 a share based on outright lies. She knows that and she's done her best to lie as well. But I did report MRIB to the SEC Operation Shell-Expel. Let's see if anything happens. No employees, no sales, no company. Just a shell. SEC should halt it just based on track record.
Actually there's a little added pleasure from seeing the promoters of false MRIB information and hype in the hope of drawing naive folks into the scam squirm and lose their shirts. I can think of one who bought 15 million shares at $.0007 and it's never come back. Oooops. MRIB music stopped and there were no chairs left.
And IB is the only place I've ever found with absolutely any shares available to short and never more than 500,000. Of course you have to put up more than $1.5 million in cash to do it and send the cash to some off shore shady organization. Chewie, you're chasing dragons and I strongly doubt you've ever been part of any investigation by the SEC of any short scheme in a penny stock. Actually I don't really know of any that exist. Can you name a few?
And just about every MRIB investor has lost 98% of their investment. Too bad they don't listen. But if even one potential investor can be saved from said losses it's a good thing despite the longs attempts to continue promoting what even they know is a scam. Most are now praying for fluff PR to keep it afloat knowing it's never going to make it with anything else. Margrit is an idiot who couldn't run a lemonade stand but the damn gypsy troll knows how to run a con. That's for sure.
Oh really. It's just market makers churning shares back and forth breaking up small blocks and retailing them when they can based on the gamblers looking for a small flip. Looks like they're not having much luck at it either. Interest in the stock is zip. And for the last time, there is no short selling. It's impossible. You cannot do it. Legally, financially or physically. Please stop representing it can be done. Unless you can show us a confirmed trade which I know you can't. I know what's involved and it simply can't be done on a stock below at least $5. Just a scare tactic to promote interest in a dying stock. a couple thousand dollars is not accumulation. It's the take at the $1 black jack table at the Indian casino or the penny slots.
Still no financials either. Why's that? MRIB is scared to death to show us they lost Costco over a month ago and Total Wine has sold nothing. I did call Costco again this past weekend. Still no stock and no reorders. Over a month now. Not looking good.
One more note as to Margrit not making "millions". I think I just figured out the whole 2008-2009 resignation thing. Consider this. Her severance package gave her $405K in cash plus any and all accrued salary and unused vacation time. In addition her stock options, 5 million at an exercise of $.25 became vested with a short lock out exercisable in January 2009. She also got all her expenses, car and insurance paid through January 2010 in cash. Looks to be about half a million in cash plus 5 million shares at $.25 free and clear. Well when cleared to sell, the stock mysteriously jumped up to $1.25 or thereabouts and volume increased dramatically.
Guess what? Margrit was no longer an insider and not required to file with the SEC on stock sales. My bet is she cleared almost $4 million on the stock alone with the last big block going two days before MRIB announced her return to the company at the end of July 2009 and her nine month hiatus. It also explains a mysterious note in the old financials of over $3 million in compensation that points right at Margrit but can't really be traced to anyone.
If anyone doesn't think she's made millions go back and look at the deals in the documentation from MRIB 1.0. Read between the lines and follow the money. She received a boatload. The $500K in severance PLUS the unrestricted options and stock for a company making no money makes no sense. It was an insane inside sweetheart deal most likely concocted by Margrit and her family. I'd say of the $32 million accumulated loss Margrit and her family and cronies have collected close to 90% if not more. Yup $27 million plus.
Tell you what Gold. Where do you think the $30 million went with MRIB? You must have some theory or ideas. The problem is no one has ever come up with anything of substance. The money just sort of went out and disappeared. Eight years or so with the same number of employees, same salaries when they paid them, same expenses, no advertising or marketing to speak of. Add it all up and it's so far off of $30 million it's quite hard to comprehend. It's a pittance. And this doesn't even include the $2 plus million in unpaid debts for operating expenses. How much can a staff of four or five spend? You LOL but offer no explanation or justification for the massive amount of distance between cash out versus justifiable expenditures.
The trading trend seems to continue. Someone metering their exit with seemingly nothing to lose holding a little longer and everything to gain doing so gradually and not tanking the stock. Four or five million shares a day as it has been and it's not flippers because very little of the shares being sold could have been bought for much if any profit with most of it going between a very thin spread at $.0005 and $.0006. I would say you can thank Mr. Bodie for not tanking MRIB.
That wasn't the point jspyder. No one denies the product exists and it costs money to make it. But what if MRIB is actually paying a cost of $100 or more per bottle to some non-existent untraceable foreign shell company while producing the vodka through a contractor at a small fraction of that cost? And if so, where does the money going to Wine Plant of Eraskh end up? No, the existence of Wine Plant of Eraskh is a very important issue and one MRIB investors should be deeply concerned with.
What is your explanation of where $30 million has been spent? And as far as "significant expense" what do you think a contract distiller charges per bottle. The number I used was actually very generous at $6 per bottle based on normal contract rates. I draw that from real experience from another spirits company I got involved with (private company) and the rectifier charges between $3.50 and $4.80 a bottle turnkey depending on the volume of the production run. The bottle isn't as fancy as Marani or etched but I can't believe that would be much more cost.
One side note. In looking at the MRIB 1.0 statements there is one quarterly where advertising adds up to over $2 million. Hmmm. That's a pretty big number given there is no evidence, record or history of any advertising of significance but I'll bet one of the vendors was Zodiac Brands.
And just a dose of reality for those with all their eggs in the MRIB Brazil basket. Have you run any numbers? With over $2 million in hard debt on the books not including any convertibles, MRIB would have to ship close to twenty containers just to cover that debt not to mention coming up with over a million dollars in new money to cover up front costs. No one is going to front MRIB money and their whole letter of credit strategy has been misrepresented as a prepayment which it's not. The entire Brazil deal is a pipe dream with no explanation of how MRIB could possibly clear obstacles other than "Margrit will do it!" Problem is that she's let the company go so far under that even a best case Brazil scenario would be like stopping a freight train with a BB. The numbers don't lie. Here's the really sad thing. Even with two consecutive years of twenty containers a year the earnings per share would barely get the PPS to where it currently stands.
"She ain't getting rich..." What is the reasonable math that supports such? Have you ever attempted to follow the MRIB money and cash flow so to speak or confirm the expenses? And there's that nagging issue of where $32 million went. Reasonable math tells me given the confirmable expenses, someone made a lot of money and probably continues to do so.
And let's look at those expenses. NY advertising? I assure you the cost of that program was no more than a couple thousand dollars at most. All the other "marketing" such as events? Most likely free in return for some product and then her questionable involvement and relationship with Zodiac Brands and almost all of the events piggy backed with same brings into question what the real deal is/was.
Bottles, vodka, caps and product related expenses? Well there's a big question mark. As there has been no proof that the Wine Plant of Eraskh actually exists other than a rapidly dispatched web site when the topic came up. Further clouding the issue were the inconsistencies and obvious fabrications on said web site administered through Glendale, CA and hosted in Brooklyn, NY. Furthermore, of the "partners" on the site most are supply companies in Armenia (glass, caps, labels, etc.) that appear to be elusive as the Wine Plant of Eraskh. Compounding all of this is payment for the product doesn't seem to match up with the financials in either cash or inventory which begs the questions who bought it, who owns it and who got paid for it and most importantly, how much did it ultimately cost? The last and most damning issue is the question of why Margrit purchased more product that she didn't need in December and also did the same thing in 2010 with a HUGE order (4000 cases) when MRIB had already let their licenses expire and wouldn't have a single license in place for the next three years?
Let me run a theoretical by you. What if... Wine Plant was just a front? Maybe even owned by Margrit in some way, shape or form and maybe the supply companies as well. Take a million dollars. Put aside $100K in MRIB funds. Pay Wine Plant of Eraskh and the other shell company suppliers the balance of $900K for a container of vodka (1400 cases) but it's never actually produced. Follow so far? Ok, next find a contract distiller/rectifier and contract out the job turnkey, bottles, labels, vodka, caps... Finished packaged goods. Go to that $100K set aside and pay the distiller for the whole job which would be around $6 a bottle at the going rate or $50K. Ship the product to a warehouse in Irwindale and there it sits with someone sitting on $950K of net, net, net cash. God forbid that money gets expensed by Wine Plant of Eraskh and any others, goes untaxed and then the proceeds find their way back to the U.S. entirely under the radar of US tax authorities. Let's not get into that one right now.
Next, time for another cash withdrawal. Come end of the year MRIB orders another container which they clearly don't need having over $150K in inventory sitting in Irwindale. That's ok, the warehouse storage is cheap. Same order goes to the Wine Plant of Eraskh and the same process produces another container. Two shipments, $1.9 million in free cash and expenses of $100K. Add to that, three $200K salaries for management a pile of stock options, perks, travel and personal expenses and you're well over $3 million or more just for the year on virtually no sales of product by MRIB. Now one could see how MRIB might be able to blow through $30 million plus. The fact remains that there is little other explanation as to where the money went.
As for the other expenses like legal, shipping, professional services, etc., chump change. Bodie suit probably cost less than $10K. Shipping a container from Central Europe which is the most expensive rate in the world is no more than $2K, so $4K for two containers. There was no advertising or marketing expenses, no capital expenditures, a tiny amount of rent which given the four or five companies at the exact same address and suite number is probably shared... Sorry, just no operating expenses to speak of other than salaries and employee related expenditures. I would venture to guess that the biggest expense for MRIB is with Pacific Wine for storage of all that unsold vodka.
All of this could also be peanuts compared to following the money from stock tranactions, convertible debt and subsequent conversions. We already know of significant conflicts with ECO Investments and most likely other "unnamed" lenders. What if Margrit is benefitting in some way from those conversions? And are we to believe that Margrit has never sold a share of her holdings in MRIB? Get real, yet not a single SEC filing for such. Another reason to remain unreporting.
Bottom line is there was $30 million plus out the MRIB doors and virtually no justification of how it was spent and where it went other than product and salaries. You can say Margrit ain't making millions but if not I'd love to hear where you think all that dough went.
First of all, the Brazil agreement was announced back in late 2013. This January was just a repeat of the same information that still has not happened. Second, have you seen the agreement? Has anyone? What are the terms? Who is the distributor? Folks are again counting money MRIB doesn't have and depending on revenues coming from what has become a very dubious source.
And common sense and logical deduction? More like overly optimistic and euphoric rationalization. While your story is very creative it's wildly speculative. Selling hasn't stopped. Just being metered out in smaller blocks because the buying has dried up. And the whole accumulation theory is contradicted by the low volume as of late. No one is accumulating. No one buys the MRIB bullshit anymore. It's just a bunch of gamblers taking a long shot waiting for some more MRIB fluff and a little bump. Doubt they'll get it. Even most of the folks who tried to promote MRIB as real are now saying its all about MRIB getting a fluff story out. They've all given up on the company and Margrit.
As far as the share structure remaining where it is I strongly doubt that but then again we don't know when Margrit stopped paying bills and employees. Could be the convertibles slowed down 6 months ago when everybody left and the last huge conversion covered MRIB for a little while longer than when they were running at full expenses. And to think MRIB got funding from another source, especially Bodie, is absurd. First, they have no credit or credibility. Second, they would have rushed to announce any benevolent financing to end all the negative talk about MRIB financial status, conversions and share structure issues. It would amount to the best news since Costco. And there's nothing more to Bodie's deal. He probably got the same deal except at the price he should have got last year and 100 million free shares. So it's all gravy. He doesn't need to unload it all at once and tank the stock. 10-20 million shares spread out over a week and he's out in a month or two at maximum value.
Same lack of announcements goes for any actual revenues as well. We would have heard about it in spades. Why is it there is always talk of some mystery source of revenues? Never happen but it's always presented, especially at the time financials are supposed to be coming. There are no revenues and there is no cash. Bottom line is thee is no company left and perhaps no more expenses or very limited expenses. But that she'll of a company ain't going to be selling anything or generating any revenues.
Unfortunately there's nothing to hype and little to hope for. MRIB is little more than a shell now and seems to be contracting further with each passing month. Pretty much gone dark. No employees, no sales force, no marketing or advertising, no cash, virtually no sale, diminishing retail locations and a mountain of debt. And let's not forget who's running this distressed ship and track record for failure over the past decade.
I'm not saying Margrit will not try some fluff peice and might even bend the truth in doing so because it's going to have to be a doozy. And she's shown a propensity in pushing the envelope with the PR as things get worse. If you recall, the last PR we got was Imo, very risky and legally questionable as fraudulent. Margrit published an announcement with a headline that MRIB had shipped to Brazil. "Shipped", not preparing or arranging, etc. Yes the body of the peice used enough weasel words to indicate they hadn't actually shipped. But the headline could very well be seen as a blatant violation of SEC rules on false publications. Backing it up is the fact that a few days earlier Margrit announced on MoneyTV that Brazil was "on its way". Both instances were entirely false and deceptive. Really no arguing that there was lying involved with both knowledge and intention.
And I'll tell you what. Given the domestic situation, about the ONLY MRIB could put out would be about receipt of funds from Brazil. Signed, sealed, delivered and paid for. No letters of credit, no arrangements, no payment agreements, no hokey documents... Just cash in hand. Anything short of that would be met with significant doubt and skepticism. MRIB credibility is at a point about as low as it can go.
And just a side note. With the minimal amount of activity, virtually no sales and no employees, MRIB runs significant risk of getting targeted by a little known SEC operation that's been very active in the last year. Operation Shell-Expel has gone after hundreds of OTC companies in recent months and has actually shut down over 8% of all OTC companies. The crack down is to keep what amounts to shell companies being used for stock scams. MRIB is starting to look like a pretty good candidate.
Fluff PR is all you will get. There is no substance to MRIB.
Brazil is a dump. It's a third world cesspool. There's no money there for new markets. It's an excuse for MRIB.
No. Brazil is a third world country filled with violence and poverty. A small percentage of the population lives well and is involved in commerce. It's a cesspool of violence, corruption and 80% of the population living in poverty.
What bad numbers are cooked in? Simple fundamentals are actually reflecting an inflated value. Zero profit over almost 2 billion shares? The value of the company is zero. Just taking time to get there with hype still going and those having given up just holding their worthless shares. Margrit is probably off shopping for shoes and bags, the accountant is trying to figure out how to publish financials without losing his license and no one is selling vodka.
The only way to put a valuation on MRIB given no profits or earnings is the simple multiplier of gross revenue. Generally that's 2X to 3X at most. Really simple. Divide $19,000 X 4 (quarters) X 3 (multiplier) by 1.2 billion (current O/S) and there's the legitimate current market value. At that higest of all optimistic forecast you get a PPS of just below $.0002... at best.
The numbers will be worse than bad and yes we all know it. MRIB has apparently lost all but one Costco location, has no sales at Total Wine and is no dependent on basically what they had a year ago when the reported $2500 in sales FOR THE QUARTER.
And there is no Brazil. There was no Brazil Q1 2014 as promised. There was no Brazil last summer as promised. There was no Brazil in September as promised and MRIB even claimed they'd already shipped which was quite untrue. Then more than a month ago they announce it again. How stupid do they think we are? Obviously if people believe it a fourth or fifth time MRIB has made the right call as to the intelligence of their investors and their ability to deceive yet again.
There is no Brazil until it's on shelves in Rio. Considering nothing has been shipped yet Q1 2015 is already a done deal as most likely is Q2 given the amount of time needed to ship, stock, launch and promote a new product. It's not a new day. It's the same old, same old. Just talk about fictional revenues that will never be realized. Even if MRIB did ship something this summer they wouldn't see a dime before local sales. No one is going to pay them up front and a letter of credit is not cash, just an agreement to pay for what's delivererd and I'd bet my bottom dollar no one is going to take product in any significant volume at financial risk, especially an unknown, unnamed distributor in a third world country.
Momentum and technicals? Please elaborate. What momentum is there and what technicals are you referring to? It seems to me momentum has been all but eliminated through a total lack of credibility and death spiral PPS. Technicals? MRIB has no cash, no cash flow, no employees, no sales force, decreasing sales and increasing debt not to mention a maxed out A/S and six months of convertibles yet to mature. And let's not forget the late financials and what is obviously a blatant act in witholding them with the bad news they will bring. Momentum after that? Like pulling a MAC truck up a steep hill chained to a team of kittens. The outlook looks pretty dismal to me... and don't stand behind the truck...LOL
Not at all. Just like MRIB did for the last report with an interim CFO who was an accountant because there's no one at MRIB capable of doing the books. And I'll tell you what. The fact that they have a professional accountant and the results are still not out and are a month late indicates to me exactly the opposite as far as a turn around and that there are significant problems both short term in the last quarter financial results and long term regarding the condition of the company. I think MRIB is either scared to death to release horrible results yet again OR the CPA is having issues with how MRIB wants to present the numbers. Very late financials is often an indicator of conflict between the two parties and is often followed by the accountant resigning and refusing to certify the results. I guess we'll just have to keep waiting for a what will certainly be a boiler plate financial report that shouldn't take an amateur more than a few hours to prepare let alone a CPA.
What's to know? It's all well documented and verifiable. Just call the stores. The only things not verifiable are the MRIB fairy tales of foreign deals and other mystery sales. No ads, no sales force, no sales calls equals no sales. Where are the financials? They're holding them back because of how bad they are. If anyone saw them they wouldn't risk a dime. we've heard things are great, great things coming since October and the only thing we've seen is massive dilution and a POS death spiral. I'm still waiting to hear the explanation for the 13 Costco stores that have been without Marani stock for a month without a reorder. Called again today. No stock, no reorder. The only availability in the greater LA area is Burbank.
And btw, since there hasn't been any shipment, any possibility of revenues has now been delayed at least another quarter meaning mid August would be the earliest any revenues could be reported although I highly doubt it. Without Costco MRIB has nothing. Soon to be pulled from Total Wines as well. Selling two cases in five months isn't going to cut it.
End is near for MRIB. No retail locations to speak of. Just the BRazil pipe dream. Still hasn't shipped.
13 Costco stores sold out for a month with no reorders on record? How do you explain that? Again everything is always a case of MRIB wishful thinking. Looks to me like the end is near.
BREAKING NEWS: Marani Vodka dropped by Costco. Previously carried by 14 Costco locations in Southern California, Marani Vodka has been discontinued in 13 of their 14 stores and no reorders are expected. All stores except for the Burbank store have cleared out their Marani inventory and assigned new product to their shelves.
The distribution center is tied into the same inventory system as all of the stores. End of story. You are wrong. Period.