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Yes, but I don't think they actually went. My Dad going I can trust 100%. If there is a Wine Plant of Eraskh he will find it.
So my crazy father sends me an email this morning...
Matthew, John, Priscilla and David. Writing from the bus through Anatolia. Looking at old Armenian churches Ottoman palace along Iran and Armenian borders majestic volcanic nature 2000 plus altitude wonderful and exciting experience, love Dad.
I know how to read a balance sheet. MRIB has no CFO. Look at the books. They're totally cooked. They're parking product to make folks think they're selling. They haven't sold shit.
You said that a year ago. Credibility of MRIB now is zero. They are unlicensed and unable to sell anything. Sales are zero. License in CA and NV are not in effect. It hasn't been corrected so any sales are illegal and anyone buying will be subject to fines and closure.
The increased revenues are a ruse. Just parked product. No cash. Just cooked books. Learn how to read a balance sheet. They parked product and whacked A/R. No cash came in. Just an accounting trick.
100,000 at $.000095. Only trade of the day as I see it.
He's said that over and over for a year or more. MRIB just keeps going lower. Every time he says it there's a big sell off and MRIB plunges further. The talk about Southeast sales are total fiction. Asked for locations or names and there's no response. Just trying to pump it.
What's untrue? MRIB just traded at less than par. Obvious sign that MRIB is an insolvent defunct company.
Traded at $.00095. Say no more. Gold, those $.0004s are looking like toilet paper.
Now below $.0001. Those cheapie $.0004s looking good Gold? Now, this begs the question of who would sell MRIB at less than par? Do you think they actually paid for those shares? I think not. Either folks that have just given up and taking the tax loss and some walking around money or folks that paid nothing for it to start with and want to get something out of it... like Margrit. Either way it's quite obvious MRIB is defunct as an operating company. Just a shell on life support to get rid of the rest of the stock they have to sell to whatever suckers MRIB can find. Market cap of MRIB is now just a tad over $100K. What a joke.
Web site still "under construction"? What a joke. A sure sign a company is no longer in business is the lack of an operating web site. Over a month since even a Facebook post. MRIB is dead. Has been for over a year. Brazil was a lie. Wine Plant of Eraskh was a lie. Wine and brandy was a lie. No dilution was a lie. All lies. MRIB is a criminal enterprise by all definitions. The intent to defraud investors is all too evident. If Margrit was ever to prove up on any of her outlandish tales she would come up with nothing more than some scribbles on a cocktail napkin.
That clock has been ticking for over a year. We've been hearing about good news coming and MRIB turning it around for months and months. Just a bunch of hooha and made up stories about new distributors and sales. Not a shread of truth to it ever. And when details are asked for we get nothing.
MRIB went out of business back in October a year ago. All that's left is a shell company they trade stock on. Just a scam dishing out shares too keep Margrit alive.
We've been hearing about news coming for over a year now. Nothing has been forthcoming. Not a single thing. MRIB went out of business a year ago. It's clearly evident now. Just a public shell being kept alive in order to keep the shares moving. No sales of vodka at all. Just more shares. Furthermore, MRIB has no license t sell. You must be in good standing with the state in order for your liquor license to remain in effect. MRIB is in default in both California and Nevada, hence, MRIB is and has been OFFICIALLY out of business for months. That's just fact. If they were selling or operating i believe it would be illegal. Also anyone buying from them would be subject to suspension of their own license and heavy fines.
No, never got the name of any MRIB distributor or retailer in Georgia. Must be one of those "secret" ones they have to stymie their competitors. LOL! But seriously, we all know any of these distributors and retailers are strictly fictional otherwise names would be posted. So anytime we see anything on the topic or anything about sales we can assume it to be imaginary without names or detail.
Gold, you never gave us the distributor name or phone number for an MRIB distributor in Atlana. And now you say to call Tom. So do I need to cold call every distributor in Georgia and ask for Tom? If you get me some actual real information I will go check it out for you. But Tom in Georgia isn't much to go on.
Gold, I'm in hot lanta this week. Where would I find the MRIB distributor you said was a friend of yours that had bought pallets of Marani? I'll go check it out and post some pictures.
Anyone who bids $.0003 on MRIB can get as many shares as they want. Millions upon millions of shares ready to be dumped are available and will gladly be handed over at that price. But as always, they ain't going to do it for $100.
Verax, got my MRIB chuckle for the day. MRIB is certainly not in the vodka business unless they are of course selling it out the back door through Marani Spirits, Inc. which is the only legal entity involved. We already know there's another Marani product that was or is being sold that is a secret. Marani re-branded as Emerald Castle. Never appears or is revealed in any MRIB PR or disclosure.
And as previously stated, if you check the books and the inventory numbers, MRIB has overstated sales. You can't sell $25,000 worth of product for $102,000 at a 50% margin. Here's the scarier thing. Last reported quarter looking at the financials MRIB spent well over $300K. Their cash shows only $5000 or so. That means they had to raise $300K in cash. That comes to more convertible we don't know about yet totaling more than double the current A/S NOT including Bodie. This thing should be at 4-5 billion shares in a heartbeat. Most of the $300K a quarter is interest on debt. That's not going away. Divede the current PPS by 4 or 5 and that's a somewhat fair price.
So how is MRIB doing business now that they are in default in Nevada and under what appears to be an FTB suspension in CA? As I read it, any sales would be illegal and they are also in violation of their CA liquor license which requires a physical location and good standing with the state. If they are doing anything, which I doubt, they are playing fast and loose with the foreign corporation statutes and California requirements. Honestly, if Margrit was actually selling vodka, which I doubt, I would not be surprised to see some sort of recession of Marani Spirits, Inc. and dumping MRIB and all of its liabilities.
The surprise will be IF we see the MRIB annual report.
Actually in California it's three years for fraud and MRIB already has a full year under their belt based on the last real "fraudulent" PR which would be the Brazil press release one year ago. We all know now that that PR was total BS and absolutely fraudulent. Still tough to prove and consider wire fraud as there was no direct compensatory result.
The rest of it is simple hornbook law as to personal losses based on a financial transaction and that would generally be two years not necessarily with fraud but an inducement based on misinformation or concealment versus a willful fraud which is hard to prove given MRIB exaggerating real facts versus a willful outright fraud.
It's all quite calculated. MRIB silence now is part of the plan I'm sure.
Two years generally. If no one files a claim in that period Margrit and MRIB are free and clear. She waited two years almost to the day for MRIB version 2.0.MRIB went totally dark in late 2010 and looking at the deals done for stock and convertibles started right back up end of 2012, beginning of 2013.
I was involved in one of these cases years ago and the company tried to get it thrown out based on SOL. Because the company was doing things covertly and without public notice the judge threw it out. Ironically, the lawyer I got banned for five years came back five years later and started right back up with the famous Spongetech case. I believe he's now been permanently banned.
And you have to keep in mind that Margrit is not the mastermind here. She's as dumb as a brick. She's a puppet. There are far more manipulative and cunning minds behind MRIB and the many entities involved. Where do you think $100K a month in interest has been going? Eco Investments has the same board as MRIB. Wine Plant of Eraskh is a ghost company. Zodiac Brands has the same board as MRIB and Margrit is listed as President and a founder. All the same names always pop up. Ken and Charlie Owen, Deborah Ridge, Shinsuke Nakashima, Richard Melland, Guy Griffithe. It's a concerted effort but most definately a scam of major proportions. A lot more than most folks might think. But here's the rub. They're not that afraid of those they've fleeced. Some guy loses $1200 he's going to walk away. MRIB has been used by toxic financiers who are making serious coin and won't sue because they made out like bandits and the public is unwilling or unable. You going to spend $20K on a lawyer for a $1200 loss?
You got that right Channel. It mystifies me that anyone can defend MRIB, Margrit or any of their actions. All I can think of is to be so apparently delusional is that they are bagholders and they believe there's a possibility of reeling in some naive retiree to load off their holding or they are internal to MRIB and trying to preserve any market they can to continue dumping zero cost shares for cash.
Let's face it. Margrit and her friends got MRIB to a market cap of $25 million with a slew of lies, fraudulent and/or exaggerated PRs and some very shady Money TV appearances, and then turned it into an empty shell of a company worth less than a nice car. And even then, MRIB is overvalued.
MRIB was, is and always will be until shut down for good, a pump and dump scheme. Textbook. And what's terribly sad for those who lost big is that they ran the same script from 2008. Almost identical and with identical results. Tragically those results were devastating for shareholders.
Really now Chewie. There are no Marani sales to speak of and certainly nothing of significance in the future. MRIB raised well over $1.2 million in cash in the last 12 months and has done nothing but spend money on mystery expenses and interest payments.
MRIB reported $525 spent in marketing in their last reported quarter. How is that possibly going to generate anything but bottles of Marani collecting dust. And that said, SGA last quarter was $75,000. What was that for? No marketing or advertising. No inventory purchases (the January container was a hoax), No salaries. No staff or employee expenses. No rent. No services (MRIB appears to have paid for their lawyer and or accountant with stock.)
Please tell me where $75,000 was spent in the effort to reach a point where revenue supports operations? The bottom line is MRIB can never reach that point so the dilution is simply part of a scam not any business effort. MRIB has more monthly interest debt than gross sales for the past five years. That's not a business effort, that's a clear cut scam. It's no different than someone who is insolvent and broke going out and getting credit cards and kiting checks. It would be illegal for MRIB and Margrit to even apply for credit.
You keep insisting there is a business here and applying business generalities. There isn't. They don't apply to MRIB. They're not even TRYING to sell vodka. $525 in marketing and advertising for three months? And $75,000 for general expenses? MRIB is a dilution machine. It was designed to be exactly that not once but twice. They don't even have a website for crying out loud. What company in this day and age doesn't have a web site let alone a consumer products company. It's unthinkable.
MRIB is not raising money for Marani operations. Their running an operation to fleece the public through stock sales and the dilution is the natural and expected result. We all said so more than a year ago and all has proven absolutely true while all this nonsense about needing capital to build the business and create revenues has been an absolute lark. Margrit's silence is no different than 2009. Go dark, don't say or present anything that would be a legal liability and wait for the statute of limitations to run out hoping no one sues.
MRIB annual report is due next Thursday. Any bets on whether we see them on time? Something else that's sort of curious from the last report. The disclosure letter from the new accountant stated that they performed all accounting from June 2014 on. So what about the supposed new CFO announced at the beginning of the year? Looks like another big fib by Margrit, or, perhaps he wouldn't prepare the books the way she wanted them to be done! lol Obviously took some time to find cooking to her liking. Might explain the late reports too.
Because everyone is waiting to see if it hits $.0001. And, when we will finally confirm that the company went out of business a year ago. Which it did. Not any sales in a year.
Not sure Verax. I'm sure I saw a $.000095 pop up briefly. Mistake? Anyway, huge dumping again. Given all the shares from the last dilution issue were sold last week I would assume we will be seeing some new issues from the transfer agent this week. I'm sure VFox is on top of that one.
And the first appearance of the $.0001s! And a boatload of them! MRIB LOOKING GOOD! Said it would be soon. So whoever sold those... what do you think they paid for them? Bet there's a lot more out there too. And a quick whopping $80 paint back to $.0003. LOL.
Just more accumulation? Positive field trend coming? Southeast sales? Brazil any day now? LOL.
Doubtful you are speaking to a registered dealer. You are speaking to a registered broker or agent who is a registered representative by way of his license(s) to facilitate trades for you and others and NOT for himself. You are putting the two together as a general rule that 99.9% of the time does not apply.
A dealer doesn't generally work publicly with daily traders. A dealer holds themselves out, such as a market maker, to effect trades for his own account buying and selling in specific securities. He's not making trades for you. He's running matched book, repurchase agreements, originating securities and then participating in buying and selling, creating derivatives, buying and/or selling the same stock continuously, making markets. He's a principal operating for his own account, not yours, at least not directly.
When you trade in MRIB you are doing so with a broker who may in fact work then with a dealer or market maker but not you directly.
That's simply not true. There is a parent, The Charles Schwab Corporation which provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC), offers investment services and products, including Schwab brokerage accounts.
The parent has brokers that facilitate my trades. They do not act on their own. They are agents. The subsidiary dealer trades for the company account. A broker may facilitate a trade through use of the dealer sub acting as a principal but cannot do it on his own for Schwab or house account.
I think that's correct. I know my trading firm, Schwab, is not a broker-dealer. They do have a subsidiary, Schwab & Company, Inc. which is a broker-dealer. I'm not really understanding the importance of this issue as it relates to MRIB other than speculation on dilution. Or is it on broker shenanigans? I've lost track. It seems to me to be a desperate attempt to hide the truth. I do know that a broker is an agent and cannot act on his own unlike a broker dealer which is a principal and can. Isn't it that simple?
What do you get when you remove profit?
Yes. Correct. I misspoke. I meant to say margin removed because I have no idea what MRIB sells at through distribution. Regardless cost is cost. Remove MRIB margin from sale and you get cost and it's been consistent at around 50%. Doesn't matter whether the price to distribution is $1 or $100 per bottle. The net number is all that matters. 100 bottles at $1 or 1 bottle at a $100 both at 50% margin. And MRIB lists cost of goods so what's the big deal? Arguing through semantics again? Trying to hide the ugly MRIB truth, cooked books and fraudulent sales numbers through distraction? Look at the numbers. They speak for themselves.
I used it exactly that way and notated it "at cost". And how does one figure out cost? Sale price less cost of goods. I only used the term retail price in terms of calculating MRIB inventory value.
All of that is irrelevant. The numbers are going to be close to the same regardless of inventory rotation. Average prices are not going to fluctuate either as MRIB only has a single product and single SKU. It's all very simple. FIFO, LIFO, whatever method you want to use. It's product taken out of inventory to fulfill sales. How it's done isn't going to have any significant impact on the financials. If anything I was generous and the numbers could be much higher indicating even less in sales. I also qualified it by saying it was simplified and the specific detailed accounting would probably show a few thosand dollars difference versus a zero sum result. But the variation wouldn't be very much.
Retail Inventory Method Calculation
To calculate the cost of ending inventory using the retail inventory method:
Calculate the cost-to-retail percentage, (Cost ÷ Retail price).
Calculate the cost of goods available for sale, (Cost of beginning inventory + Cost of purchases).
Calculate the cost of sales during the period, (Sales × cost-to-retail percentage).
Calculate ending inventory, (Cost of goods available for sale - Cost of sales during the period).
Let's say MRIB sells their vodka for an average of $20 per bottle at a cost of $10. This is a cost-to-retail percentage of 50%. MRIB's beginning inventory has a cost of $100,000 and MRIB made no additional purchases and it had sales of $100,000 The calculation of its ending inventory is:
Beginning inventory $100,000 (At cost)
Purchases + $0 (At cost)
Goods available for sale = $100,000
Sales -$50,000 (Sales of $100,000 x 50%)
Ending inventory =$50,000
Pretty simple. But MRIB shows $75,000 in ending inventory. So sales reported is either bogus or was simply booked and not shipped. This would reflect actual real sales of only $50,000 less COG or $25,000.
Beginning inventory. $100,000 (At cost)
Purchases + $0 (At cost)
Goods available for sale. = $100,000
Sales -$25,000 (Sales of $50,000 x 50%)
Ending inventory =$75,000
This would also jibe with their cash accounting. Given $85,000 in A/R of which $35,000 was built in prior to any sales, true A/R is actually, $50,000. This would represent MRIB has sold/collected virtually nothing and/or has been paid only what actually sells through at retail (that is Costco's method of payment BTW). Looks like MRIB may have shipped some product but it ain't selling and/or was intentionally parked and is uncollectable.
That said I do have to qualify that the numbers were simplified for clear illustration. There is most likely a positive balance on cash of a few thousand dollars as I doubt MRIB hasn't been paid for a single case but it's clearly not much.
This also begs the question of why the June 2014 container was ever needed and what could possibly have represented "increased demand" and need for yet another container to the U.S. (Originally to be shipped to Brazil) in October 2014. Here we are 18 months later and not only has the June container not even been touched but there's still $75,000 in MRIB version 1 inventory left over. Had the Brazil destined shipment actually shipped MRIB would be sitting on $315,000 in inventory at cost. I don't believe the Brazil container ever shipped though and the BOL in January 2015 was dummied up and leaked to the Internet for effect. It might have been paid for though! Good ol Wine Plant. LOL. What is even worse is that inventory at December 2014 was still almost $100,000 indication almost no sales. They only whacked inventory in this last report and for five times more in that one quarter than in the past four quarters combined. If MRIB had sales like that I assure you there would have been a plethora of PRs. Since it was imaginary and could be exposed in the accounting they couldn't for fear of liability.
Bottom line is MRIB sales aren't in line. Inventory purchases make no sense whatsoever. And it certainly looks like MRIB is not selling.
MRIB web site now down two months or so? Company is out of business folks. Has been since Dan Senters left in October 2014. Website was probably taken down to avoid liability and potential lawsuits from all the misinformation listed. The fake winery, fake press releases, fake retail outlets. Just a nest of legal liability for Margrit and MRIB. Now they can just wait out the statute of limitations, hope for no lawsuits and start up the stock selling machine again. Fall 2017 would be my prediction.
They never did squat anywhere Peggy. All smoke and mirrors and voodoo accounting. The books are totally cooked. If you dig through their financial reports you don't have to go very deep before realizing MRIB has sold virtually nothing, other than shares that is. If you look at starting inventory in January of 2014 it's just around $100K. As of March 30, 2015, inventory stands at $76K. So basically MRIB has shipped roughly only $24K in product.
What far worse is MRIB reports $100K in sales over that same period. How can that happen you ask? A very shady accounting faux pas called parking product. Most of which occurred in the last report with $50K in supposed sales. Well, MRIB never shipped it. Not only did they report report $50K in sales, they reported such on only $22K in inventory and to make matters worse they whacked up accounts receivable for the $50K. It's all ghost product and ghost sales. Most likely to Margrit's friends and cronies in Glendale. The books show MRIB certainly isn't getting paid for product. Of the current A/R, at least 85% of it is imaginary and/or it's at least 90 days in arrears. Sounds more like a bunch of fake purchase orders and product "sold" not shipped.
Just to add. MRIB had a reported BOL for another container in January of 2015. Well, it doesn't show up on the books so I have to think that either MRIB doctored up a BOL or some MRIB investor took it on himself to do such. Same method as the fake job postings. Post it somewhere and it gets picked up by all the crawlers. The job postings was more organized as it coincided with an advertising program targeted at visitors to MRIB message boards. Regardless, it was a shipment that either never happened or the product went to somewhere other than MRIB. I'd bet my bottom dollar though that in the detailed MRIB accounting there will be a payment out of the MRIB coffers to the Wine Plant of Eraskh for the mysterious shipment, AKA, Margrit Eyraud, Glendale, CA. LOL.
It's incredible to think Margrit was able to destroy over $23 million in MRIB market cap in a matter of less than a year. Just testament to the fact that MRIB is and always has been a scam with no real business or value. And for those that think MRIB is still in business selling vodka, check the financials. There have not been any real sales in the past year going back to the fall of 2015. Real revenue for that one year period was only $25,000 almost all of which was recorded prior to October 2014 which balances with currently reported inventory. In other words MRIB hasn't sold anything since October 2014, the month Margrit and MRIB went silent and the same time Dan Senters left.