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Hey, how are those 15 MRIB million shares at $.0006 looking right now? Must be getting a little nerve racking waiting for the next convertible to hit. Should be next week and then we'll start again at a new level of $.0002 or thereabouts.
Bodie got $100K out of MRIB? I want to shake that guy's hand. He did get blood out of a stone. Being smart he took what he knew he could get with the minimal legal effort and cost. The million dollars was just for effect and typical legal bullshit. He doubled his original deal which is exactly what Margrit ripped him off for if you look at the numbers.
Actually, it looks like a damn fair deal to me and a gift to Margrit and MRIB as what she did basically guaranteed him the legal victory and the right to shut MRIB down if it ever went to court. She ripped him off, plain and simple. He cut his principal in half as a result. Great deal for Bodie considering Margrit and MRIB doesn't have a pot to piss in or a window to throw it out of.
Matthew, legally the authorized shares would have to accommodate the convertibles that you are assuming are out there.
There's so many more shares than 1.8 billion right now it's not even close. There's at least 3 billion fully diluted. You're being short sighted and not even considering the convertibles coming fom August-January expenses. Add that amount to the Bodie settlement and the newest container purchase and MRIB is most likely well over 3 billion shares already as of today.
Not at all. Just market. The total sum is the same. Your ridiculous notion of lower stock price is good is totally off base. THey want less shares at higher price.
65 million shares is the best possible scenario. Doubt it. It think it will be lot closer to 1 billion. Just looking at all the possibilities.
Nice post. Don't have to read past the first paragraph. She executed other agreements both before and after without notice and at lower prices. It didn't matter though. It was shareholder money not hers.
Ok. The facts are that MRIB in the original agreement issued Bodie roughly 65 million shares plus interest at what looks like 5.5% annually (typical longer term convertible debenture) for $100K based on a market price at the time of conversion of $.002 plus up to $.007.
EVERY convertible has a dilution clause. So applying that, Bodie is going to get at least market on the deal IMO or he wouldn't have done it, which is now $.0004. Read the financials. Do the math. It's all there.
That said, even if he got the EXACT same deal as in the original agreement at the same conversion price extended for the time, which is a preposterous premise for any intelligent person, it's going to be another 65 million shares coming and MRIB doesn't get a sheckel for it. Just a payment by shareholders and one that outweighs revenues by 1000%.
I think we need to face the fact that another billion or so shares are coming and a reverse split is imminent. There's no other course of action outside of a new registration. MRIB is OUT OF SHARES.
I guess the only bright spot is that they're out of employees too which should cut the nut a tad. But looking at the picture of Margrit from South Beach with a Hermes bag over her shoulder and a Cartier watch on her wrist, I'd say the nut is still pretty big. Margrit does not live small. Margrit is the typical vagrant asking for fish versus looking for someone to teach her to fish.
That could be if they did NOT state that the "original" convertible had been reinstated. It appears from the records that the original deal was $100K for stock at a given market calculation rate plus interest which in the case of Bodie was roughly 28 million shares at $.002 and later, another 3.6 million shares at $.007. It appears to have been finished off with another 30 million shares at $.001.
The totals come out to $100K plus $17,532 in interest over 3 years which seems reasonable. Putting the original note back in place I would assume the only difference is the calculation for the conversion price which I assure you is not set in stone and is based on market price.
Here's where it gets a little tricky... My thought is that Bodie settled for shares at current market and dropped the fact that he got swindled which he did at $.002 and $.007 with Eco Investments getting the same deal at $.001 both before and after Bodie's investment. In other words, in lieu of blood from a stone, he'll take shares on current price to get the $100K and drop the fact he should have made 100-600% more on his original shares.
I would expect he will get no less than 130 million shares if it was based on the price Eco got plus 5.5% interest until the shares are delivered which I would assume MRIB will do in short order to avoid the interest component of the original note. But Bodie would be sort of stupid to do that but it may have been the only choice. If he took it at the $.001 price when the stock is at $.0004 it would only be to salvage something which might not be a bad deal as he already got 61 million shares which I'm sure he sold at a significant profit, just not as much as Eco made. The other side of the coin is that the calculation for shares from the original agreement gets reset in which case the minimum number of shares to be issued would be at least 250 million.
Bottom line is Margrit definately pulled a fast one and got caught. Most likely because she gets a cut of the Eco deal IMO. Bodie caught it which wasn;t hard becasue MRIB is so sloppy. IN the end, this is going to cost MRIB shareholders big time.
Actually, the details are in some of the documentation but the whole case was centered around Bodie wanting a fair shake given convertibles offered both before and after his deal that were far sweeter than his deal and done withou notification. Pretty safe to assume he got at least his original deal at the fair shake price which was $.0001. MRIB was careful not to mention the number of shares or the details other than $100K which as usual leaves mystery in the story and nothing more to do than speculate. Par for the course.
And you know why MRIB settled, right? If Bodie got a judgment he'd be able to put the kabash on the whole deal and Margrit's stock selling days would be over in a matter of thirty days. Bodie goes from a common vendor with a civil claim to a fully secured creditor at the top of the totem pole.
Filing for bankruptcy protection under a reorganization would have been the wise move. It would immediately stay the action under federal statute. Ah, but then MRIB would have difficulty running their real business of selling stock. The company could certainly attempt to sell vodka, close Brazil, etc. while under reorganization but they couldn't contract any more debt or convertibles without a trustee in their grill.
Actually, the Bodie settlement will probably cost MRIB investors at least half of whatever is left of their investment. Getting out with that 5% a month ago is starting to look pretty darn good. The longs do realize they just got diluted by a huge amount, right? Or has that realization not set in... Possibly in denial?
So now, with Bodie and a new container, MRIB is probably looking at being maxed out on shares without even considering convertibles for expenses from August onward. This is going to get ugly.
A non-issue? How is doling out at least another 250 million shares a non issue? Probably closer to 1 billion. It's not only an issue but a huge issue. Not only that, any of the original $100K paid off now amounts to a punitive damage of sorts and the whole note is back in place. No, I'm sorry. Hundreds of millions more in convertible shares and NO CASH for them? It's a huge issue. It was way back when and it certainly is now. Only thing left to do is the reverse split.
So basically MRIB just gave Bodie at least 250 million shares based on current PPS? Looks like it to me. Now I now they're more than maxed out on shares. That settlement was one big wave of immediate dilution and no cash for MRIB in return. Just more stock out the door.
Actually, looking at the original note and the claim I would assume Bodie probably got the shares at fair value for the time of the investment which was sandwiched in between the two Eco Investment deals which were done at $.0001 IIRC. That would make the Bodie settlement 1 billion shares... If so, the smell of that reverse split is in the air.
Yup. He didn't do such. They claimed 179 million shares and it was almost twice that. Investors have rights!
My MRIB shares were long gone at $.026 as soon as I found out they lied about O/S which they did. They even got a lawyer to affirm their lie to OTC. That's who people should sue. Lawyer is liable. Get him to pay or be disbarred.
So no deadline for the Brazil shipment? Speculation on MRIB India shipment is still running eight years later? When does it become a non-event? Twenty years? That's a good bet. You'll be dead before it happens.
We've heard about MRIB foreign deals for eight years now yet not a single one has ever happened. What's different now? The only common thread is you can't do any DD on them.
You say to "watch". Well we have. We've watched $32 million go down the shitter with no results in eight years. How do you rationalize that? Where did the money go? No one has an answer to that very important question. Advertising? Marketing? Product? No records of such. Why is there $300K in inventory sitting in Irwindale? MRIB investors are just looking for some answers and they get the same thing... "just wait, it's coming". Eight years of that. When do you say it's BS?
Gold Team, with all due respect, you communicate with Margrit and MRIB. Is there an answer to that question? Where did $32 million go? Can you ask her because I think we all would like to hear the answer.
Looks like our new level for any interest or volume whatsoever in MRIB is $.0004. Next convertible should cut that in half. Can't even flip anymore. Look at the documentation from 2009. It's like a blueprint. You can predict what's going to happen like clockwork. Same exact game plan, same exact results.
Plus you have Margrit's trip to Miami to pay for now to round up some more toxic funding to pay for her lifestyle with no vodka sales. I'm guessing close to another $10K. Just another 50 million shares.
Seeing she's walking around South Beach with what looks like a Hermes over her shoulder I'm assuming Margrit doesn't do Motel 6 in Miami Gardens. She's living the good life with MRIB and probably never earned more than $35K a year in any other job she ever had.
Interesting... The Zodiac Brands web site has been shut down.
Itsmyoption... One question you might want to ask is if anyone knows who the principals of Wine Plant of Eraskh are? It seems to me MRIB should know this. In the course of my research and DD I found that there was indeed a wine plant in the village but it was totally destroyed in a rocket attack back in 1991-1992 during the Soviet occupation days which was documented, IIRC, in an expose by the Los Angeles Times.
It's funny. The web site makes no mention of this. Pretty significant event and human interest story if they did rebuild it. I doubt it. My bet is someone bought the bombed out property for the address and appearance of owning a distillery for a couple hundred dollars.
The next conversion should be in a few days, maybe a week. Surely before they post any results due on the 15th plus however late they are with them.
On that subject, and maybe VFox can help out, I remember reading something in the OTC regulations about being late with reports. Something like if the company is late in any two consecutive quarters or any three in two years, the company would be flagged. Any help?
It's all falling apart. Margrit is a train wreck.
Guess that Friday-Monday "new angle" came up empty Chewie. More MRIB BS rationalization. MRIB is BK.
Ken Owen was arrested in LA for sending out $300K in investor junk mail at an LA post office after writing a bad check to pay for it. MRIB investors just want to know if this guy is involved with MRIB. Is he the brother of board member Charlie Owen?
Gold Team, I am still interested in what you can tell us about Ken Owen and his role at MRIB. Is he still there? What does he do?
The MRIB FACTS no one else can find? No. The facts that so many refused to believe or accept for so long and went as far as to attempt to suppress them. They were always there to be found and still are. I was just the first to take then real DD approach while the MRIBA feel good party was going on. They're just negative facts that the pro MRIB folks didn't want to accept although that tide has certainly turned.
If there are and MRIB facts you or anyone else has not been able to find or confirm please let me know and I will provide the source.
Thank you Gold Team. I wouldn't go as far as to call my MRIB DD great but well researched, substantiated with factual material and informed analysis that seems to have been pretty much spot on given the results and current situation at MRIB.
The problem with MRIB is just how many folks don't know what DD is. Promoting all the MRIB positives like some kind of marketing brochure is exactly that, promotion. Those that claim any negative DD is "bashing" are in denial. Good DD involved confirming and substantiating those positives and exposing any and all negatives. With MRIB so few of those positives are confirmable or even researchable and the many, many red flags are all too clear and based on material facts and events.
It's too bad too as had more folks taken the real DD to heart there may have been far fewer MRIB investor losses and certainly fewer or any total write offs which is where many stand now at 99% loss with no hope in sight.
Crybaby, it's not that easy. In the case of MRIB and any scam of this type the court generally sees it as an investor who made the wrong choice. Unless there is solid proof of some significant malfeasance or crime the only recourse is usually civil and no one wants to throw good money after bad trying to get what is most likely blood out of a stone. That said, although the evidence is thin on proving MRIB material fraud, there are some unanswered questions and some possible other areas of MRIB actions and representations which if proven out might get some higher authority involved. Unfortunately these incriminating details usually come about as the result of discovery in a civil action and then and only then does someone like the SEC get involved or does the bench refer the case to them. So it's sort of a Catch-22.
Has it ever been any clearer what business MRIB is in? Margrit is in South Beach putting on her dog and pony for a room full of toxic funders... Is she out trying to sell vodka? Calling on potential customers? Setting up marketing and advertising? Seeking distribution support?
Nope she's spending a ton of dough down in Miami most likely having turned it into a nice little vacation. I don't know what MRIB paid for the presentation time but I'd bet after that, airfare, hotel, and T&E, it's probably double what she sold in vodka last month. And in case folks aren't familiar with these type of "conferences", and I use that term lightly with tongue firmly in cheek, they are basically last resort attempts by desperate companies like MRIB who can't find funding or credit anywhere else. Usually a good indicator that the end is near as well. The promoters pitch them preying on that last ray of hope and actual significant funding is rare. Inventors and new products are another common target of these type of promoters but even those promoters are a rung above the slime balls behind this thing MRIB is into.
And as speculated about the time Dan left MRIB it seems Ari is also gone and is now at ReasonsUSA whatever that is. He does list Zartarian Consulting as well, a consultant to the food and beverage industry. Now isn't that special... I wonder if Nina owns a food and beverage consulting company as well?
It appears Ani has also left MRIB. She lists MRIB as a previous position on Linkedn and is now currently President at Ani Management Services. Interesting, that company was started the same time she and Nina joined MRIB specializing in consulting services to the food and beverage industry...
Hmmm. Wonder if MRIB has used their services over the past five years? Ani reports the company revenue at around $100K a year. Makes you wonder about some of those mystery catch all categories in the financials like "Managment Fees" and "Consulting Services". Oh well, just another potential vendor getting MRIB payouts for mystery services seemingly tied to MRIB in a non-arms length relationship. Just add them to the list.
New level seems to be clearly established at $.0004. Meanwhile, Margrit is sipping cocktails on South Beach letting Black Bridge Capital try and get some more toxic financing. Time to send another payment to Eraskh too. Suck out some more capital.
If MRIB spent one tenth the time they do on raising toxic funding on selling vodka they might have a shot. Never part of the plan though.
Her biggest salary before MRIB was probably $35K.
Gold, I did not ask anything of the sort. Someone posted a picture of Margrit and Dan Senters and asked who Dan Senters was. You said, and I quote, "Ken Owen?"
I just asked where you got that name and how and what his involvement was with MRIB. You seem to know more than we do about the company. Pretty simple. I'm not asking anything more or less.
So, what do you know about Ken Owen and his role in MRIB management? We have what appears to be a convicted felon and convicted "pump and dump" participant in an MRIB management position. Just wanted to know if you know what his role is or was in reference to MRIB operations.
I didn't say it wasn't Dan Senters, VP of Distribution for MRIB. I just commented that at the time the picture was posted from the MRIB office in Tustin you guessed that the man on the left was Ken Owen. Your words, not mine. I'm just wondering where and how that name popped up and what his ties are to MRIB because he obviously is or was involved and you seem to be MRIB's only source of elaborating on what you know about his role in running any part of the company. I seriously doubt you pulled the name out of a hat and the topic being MRIB and their intentions and corporate structure, participants, etc. the involvement of someone apparently prosecuted and adjudicated guilty for past "pump and dump" scheme(s) and securities fraud by the SEC and the State of Texas not to mention a supposed arrest for a $300K mail fraud and theft charge in Los Angeles pumping investment junk mail, is a pertinent detail we all would like to be informed on in reference to current events at MRIB.
As you seem to have been aware of this individual being part of MRIB in some way shape or form having directly used his name on numerous occasions I thought perhaps you might be able to enlighten curious MRIB investors as to what his role is or was.
Defamation? Bringing to light material facts and events is defamatory? Just because they are negative and cast MRIB in poor light certainly does not make negative comments about MRIB defamatory. The negativity and comments therein are coming from disgruntled shareholders who feel tricked and victimized by MRIB actions that have destroyed their investments. Even many who once touted the company and saw millions coming have now turned to the negative side with man even going as far as confirming their belief that MRIB was a scam all along and they got fooled.
Nor is there any concerted organized effort as art of some grand scheme to get more shares. As per Veronica's statement, the TFs actually want to try and maintain as much PPS as possible for future conversions but there's still no way they'd hold shares for any amount of time. If there was any chance they wanted to hold anything why are they willing to dump at 50% to market? Consistently? They just want their cash and get out of Dodge. It's nthing more than a collateral conversion and an easy one to convert unlike say a mortgage. You think a bank would hold their foreclosures trying make money? Absolutely not. They don't want to be in the real estate business and TFs don't want to be investors in some POS company equity deal and what they know will soon be worthless securities. And if you don't think Margrit is in bed with the toxic funders I think you may be in serious denial. The motive, incentive and actions speak for themselves. Just go look at past financials and see how many times you see unnamed lenders issued shares. Why? Some named, many not. What's the secret? Talk about lack of transparency.
anyone know who is on the left side in this picture !!!
investorshub.advfn.com/uimage/uploads/2014/1/13/gmjhg2014-01-13_02.02.01.jpg [tag]
The guess you gave was Ken Owen. Obviously it is MRIB VP of Distribution Dan Senters who had been announced by MRIB four months prior. But in looking back I see no references to any Ken Owen although you make several references to him and to his having a direct role in the company as well as being in the MRIB offices and the contact for information being sought by a number of MRIB investors both in person and by phone. Since you seem to believe Ken Owen was or is such an integral part of the MRIB team perhaps you could elaborate on his involvement and duties for the company.
Regardless. I'm just curious how anyone might know about Ken Owen and connection to MRIB. With the name coming up numerous times now in MRIB discussions it would be informative to know how he is connected to the company. Given Owen's checkered past any position or role at MRIB would be significant information. I doubt anyone pulled the name out of a hat so the connection between Owen and MRIB must exist in some way shape or form that someone is aware of.
Guess I have to rephrase... Does anyone know what company role Ken Owen has in MRIB? I would assume Charlie Owen, listed as an MRIB board member is a relative, perhaps his brother based on age, but other than that I have never found how Ken Owen might be directly involved in MRIB operations. It would appear that there is information that would suggest MRIB is in someway involed with him though and some folks might know what us role is in MRIB. Is he in some way responsible for fund raising for MRIB? Is he a MRIB employee?