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.
VeronicaFox, where are you getting your numbers? They always seem to be more up to date than what I'm finding. Regardless, correct me if I'm wrong but the outstanding at the time of the June unaudited interim report was 479,000,000 and currently it's at 536,000,000? That sounds like 57,000,000 additional shares or a 12% dilution in the last 30 days or so. I can't believe that's correct. Am I missing something? If it's accurate it's absolutely shocking.
I never referred to the Costco test as mythical, just the additional product lines announced I the same manner done in 2009. And keep in mind there's question as to whether the product is even still in Costco as we have no confirmation from anyone and we already know a number of the original stores in the test are no longer stocking it. I'll wait for confirmation but it doesn't look promising. What people are betting on here is yuck Finns big toe. The facts are the facts. Barring real numbers from the company to the contrary, this is an insolvent company sucking money out of the public until there ain't nothing left. Same as 2009. Obviously you are in for the "play" because the evidence of scam is overwhelming and to further promote it is obvious. I just hope people will do their DD, view the facts and figures, the history and track record of those involved and make a decision to buy or sell based on objective data not a twisted interpretation of bogus PR and stock promotion.
But most are not public. The issue is governance and protection of shareholders and those not members of he family. They simply do whatever they want without oversight. As far as prosecution, no ones ever going to do anything and even if they did I'm sure Magrit has used lots of the shareholder money for D&O Insurance. Why do you make excuses for his company's bad behavior and track record? Just wondering.
No... I called my best friend who is the ex-president of ABC Television to check it out for me. Steve McPherson. You can check that out. Use my name. He knows me. I post under my real name. You need his home phone number? Don't think he'd mind. He hates scams as much as I do and he has a real spirits company these days as well as a super wine brand so I'm sure he hates what's going on here.
That company has never worked with any of those companies. Please prove it. I tried. It's entirely fabricated. Even called Disney. They've never heard of that company. I can go out on line and post logos of lot of famous companies. That's what they did. They've never done a single thing for Coke or Gatorade. Just more vapor and propping. The only thing Broadcast has ever done are paid infomercials and SMTs. Do you believe everything someone posts online? They have a 2000 sq. ft. office in the worst section of town. You think Disney is dealing with these guys?
You will not see any commercials or national branding. Broadcast West is an infomercial production company. They've never done a commercial. It will be no more or less than Money TV. They couldn't afford a 30 second spot on Cops and they would blow every penny they have left. This is a matter of three family members ripping off the public for a second time in five years. There are no sales to speak of and incredible expenses and serious stock sales that are most likely illegal. The company will be shuttered within ten months. Bet on it. If you got in at nothing, take your profits. If not get out and get even if possible. They have to sell 10X what they're even ordered just to lose money. BUT... Margrit and family will make tons... off you.
So here's my next prediction for those following... and for some reason there are quite a few. Go figure. I just call them like I see them.
The next financials you all will see will be claims of huge increases in sales. They did this back in 2009. The problem is they state in terms of percentages. Stating in terms of percentages versus actual revenue is both misleading and deceptive. So if you see an announcement stating a 1000% increase in sales from last report understand that it represents $250,000 in gross sales, probably $50,000 in net at best. This is a deceptive practice they have used in the past and I would bet it will come into play again. Bottom line is this company is insolvent by every definition of financial analysis. Every piece of confirmable financials confirms that. The best bet any investor has is they can keep it going long enough for the zero cost basis guys to get out with something and those who got in somewhere along the way to make a little dough or break even. The new investors will be left with nothing. Same as 2009. If you didn't get in at .0001 you're going to be toast. Just a matter of time. They're out of money and time. Keeping the stock trading is all they have.
And there are no new products. No wine, no brandy, etc. It's all to get you think future revenue that doesn't exist and will never happen just like 2009. I don't think they're even still in Costco. Anybody check recently? I know they're not in Burbank or they're out of stock because it wasn't on the shelves this morning. Had a friend check on that. Mostly Kirkland private label and Grey Goose.
Not Looking good but I give Magrit and family credit for running the same game twice. Maybe they can go for a third in 2019. If I got $6 million for running a company that lost $40 Million and then another $6M the second time around I'd shut it down and start again just like she did. Pretty smart.
Veronicafox simplified it. They are unaudited financials and have no opinion behind them. They can say anything. For instance, my belief on the suspicious subscription fee on the last financials most likely was a fee paid to Magrit for her consulting contract. I'd bet that the $90,000 subscription fee that came in as revenue went right out the backdoor to Magrit as a consulting fee or something like 10% of the money raised to reduce debt even though she was using company stock to do it. I would also bet that any accountant desiring to keep his license would have to notate that. There are many examples of lack of notation and information that would be provided if they were audited because the CPA would eventually be liable. These are just spreadheets generated by the company internally and not CPA audited nor GAAP acceptable. They also lack what is required in an official consolidated audited statement. The company is basically giving shareholders what they think they want to see.
That is correct Waterchaser. Any financials published are most likely unaudited and simply a courtesy to shareholders. They have no requirements to do such as I understand the rule. The 15G is simply an application to deregister in contemplation of bankruptcy, transfer of ownership, restructuring of stock, etc. in order to become exempt from submitting financials. My problem is it sure looks to me like they're operating like a registered company and not meeting the rules of an exempt company. The certainly are enjoying the benefits of being non-reporting though which should frighten anyone especially given there is no outside corporate governance. Just the family doing deals with themselves and others without transparency to the shareholders. If I could fire myself, give myself a $405,000 severance, take 9 months off to play golf and then hire myself back at a bigger salary along with 10,000,000 shares of stock I issue myself not to mention cut a sweet consulting deal with myself for every dollar raised from paying off debts and raising cash from company stock... well sounds like a good deal to me. That's certainly what it looks like what they've been doing. Sure looks like Margrit has taken in close to $10,000,000 since inception. Don't let her hide behind that $200,000 stated salary. Read the 10Ks. She and family got huge payments in both cash and other considerations. Heck the company pays her $650 a month just for her car and vested every share she promised herself for the next ten years on an immediate basis. That's unheard of. But you have a board of directors with serious conflicts of interest serving themselves at stockholder's expense.
It really is DJ. I'm shocked that more people aren't realizing it or perhaps they're just delusional and caught up in the "gambling" aspect of pennies and the ability to pull in some newbies to get a tiny PPS increase and get out. I would suggest one thing to you. Go read the last few 10Ks from 2009-2010. The amount of money the family took out of this company in cash and stock is astonishing. It also appears they never put in a nickel. No additional capital, no release of funds due. Heck Magrit even negotiated a $405,000 severance for the eight months she left in addition to the $200,000 salary she took. And if you look at the governance, she did the deal with herself! Talk about conflict of interest. There were no other board members outside of her siblings. They probably did they deal then hacked up the cash and stock as the goodfellas would say.
And you do realize that non-cash dividend diluted you 5% in one fell swoop? Not to mention the stock has dropped over 50% on top of that making the non-cash dividend worth relatively very little except to the insiders with tens of millions of zero cost basis stock that they're now dumping for enormous profit. But as I recall you got in very low, right? So basically new buyers are at your mercy. You can wait and wait and give up and sell at $.01 and still make money. But waiting too long could mean both you and the newbie owning worthless paper. Holding a penny that more than tripled given the company's current financials makes me scratch my head and to think it can go much higher defies all fundamentals and basic of valuation. But it's your money. Nice position to be in to see if the roller at the table rolls the dice the way you want but sooner or later the seven is coming up.
Yes, Three Graces is quite a curveball... Doesn't seem to exist though. Seems to be just another vapor company and announcement that cannot be confirmed or denied. And the only Three Graces I could find is a trademark owned by a winery in Australia. Hmmmm.
This looks a lot like the 2009 announcements of distribution of a non-existent Thai beer and a similar non-existent Armenian Cognac. Of course none of the announcements ever materialized as deals or sales. And I'm going to add a new twist... Anyone ever hear the name Paul Fuegner or run into him during REAL DD? Suggest you google him. He was the Dan Senters of 2009 except a helluva' lot more experienced, seasoned and capable. He didn't last long at Marani though. Seems just several months and having gotten hold of his resume recently, all evidence of anything to do with Marani has been removed. This guy was an all-star. Way beyond anything Dan Senters has done and unlike Senters, a documented history of each and every position over the past 30 years from Sara Lee to Skyy Vodka where he doubled sales. Regardless the point is, the game plan from 2009 is being followed to the letter. Let's look at 2009:
Marani becomes a public company and raises big $$$... Magrit talks about worldwide distribution of Marani Vodka... Marani announces new bottle design... Marani announces hiring media company for advertising... Marani announces contrats for $50 million for India, Dubai, Pacific Rim and South America... Marani announces the addition of beer, wine and cognac distribution deals... Marani announces entry into Von's, Ralphs and 1500 retail outlets... Marani hires Paul Fuegner to execute Marani sales plan for worldwide distribution... Stock soars to $2 and O/S is expanded to 175M shares ... Marani reports $26 million accumulated loss on $400K in gross sales... Marani ceases operations. Any of this sound familiar?
Let's move to 2013...
Marani sells a huge amount of stock and issues more to take care of debt... raises big $$$... Magrit talks to media about relaunch and worldwide distribution of Marani Vodka... Marani announce a new bottle design... Marani hires Broadcat West for advertising... Marani announces $100 million plus in contracts for Brazil, Dominican Republic, Mexico, Spain and Monaco... Marani announces the addition of other products, cognac, wine, et. al... Marani announces entry into Costco... Marani hires Dan Senters to execute Marani's plan for worldwide distribution... Stock soars from $.0001 to $.04 and O/S is expanded from 175M to over 500M... Marani reports $2500 in sales since the relaunch... Accumulated loss expand past $31M... See above for what's next in this all too transparent game plan.
It's not "like" 2009-2010... It's IDENTICAL. And just wait till you see what I've found out peeling this onion of a company through the corporate machinations and maneuvering. It's an unreal web and I think the complexity of it was intentional. A Nevada company acting as the public entity through a proxy "private" California company but the California company is actually the controlling entity even though it is wholly owned subsidiary of the Nevada company... it goes on and on. I haven't been able to figure it all out but it's just not right. There are also so many non arms length transaction and transfers along with egregious conflicts of interests. Magrit and family have been on both sides of so many transactions. She even collects a consulting fee privately from what I can tell for each private placement. You guys have a big mess on your hands and that $2,000,000 debt is growing every day. We won't even go into the accumulated loss. If Magrit and family do what they did in 2009 and give themselves $6 million is cash and stock consideration that loss should be well into the $40 million range.
I find one thing sort of disturbing. I've been trying to figure out how the company is still exempt from reporting consolidated audited financials. The 15G certainly is the proper method to use for such but as I understand there must be a follow up action such as a stock re-characterization, bankruptcy, transfer or some other action that meets the rule(s) of a continuation of the exempt status. They don't meet any of those rules as I read them, EXCEPT... number of shareholders. They changed that in October to 50 which would make the exemption legit. Can that be possible though? Only 50 shareholders of record? And reading that the transfer agent is in essence gagged, how would anyone go about finding out because I can't believe that's correct.
Has anyone sorted out the lack of a license to operate in California? From what I can see only Margit's company Marani Spirits is in good standing. There is question as to jurisdiction as the public entity is in Nevada and the subsidiary is in California. But you can't run the public entity through the sub. That's a no-no. This also may explain the mysterious subscription fee on the March financials. Margit has a consulting agreement which should be published but isn't but my suspicion is that it has something to do with private placements and money coming in through stock sales and a portion going right out the back door to Marani Spirits. It's all VERY fishy. This is not to mention the $6 million the three siblings received already that we know about, Magrit's $500,000 severance package in 2008 before returning nine month later and what appears to be the same scheme all over again. None of this is arm's length which should be a concern. It's all very secretive and a very twisted web of different deals and companies all controlled by the same three people. Who, don't forget tanked the same concept and business plan to the tune of $30 million in shareholder money not five years ago.
Right. Couldn't be the folks out there with 300,000,000+ shares acquired at a zero cost basis taking advantage of a little run up created by euphoric and unrealistic interpretation and broadcast of company propaganda and stock promotion? Due diligence comprised of pretty pictures of Armenia, product shots and echoing of company PR? The only part of the DD that's significant and real are the financials which are conveniently buried and deemed unimportant by the longs. No financial analysis. No background checking. No official record checking.
No, I think the zero cost basis guys are having a wonderful day today on the shoulders of a lot of poor newbies. You see, those zero cost folks are the smart cookies. They know how little they need to get to make a fortune on a little bit of toxic funding. They look at the company, their financial state, the management in place that they lent money to, the real DD elements and see it's just a matter of time and take what they can get. Today is a gift for them.
How many more private placements have been done? There were five or six done in the last year that no one even knew about until June. But all of those involved in them knew. To all newbies, go look at the company 10Ks and Qs from 2008 to 2009. Look at the March interim report. This is an insolvent company that has burned $30 Million dollars and never made a plug nickel.
Modest salaries? Yes, same as in 2009 but then in your DD you must have missed the other $6 million in compensation for the three of them. I wonder what that additional compensation will be this time around? And that doesn't include Margits car allowance of $650 a month. Funny how a CEO can live so high off the hog while the company tanks. There is obviously other intentions other than healthy company finances. No tightening of the belts at Marani.p just adding to the $30 mil that's already been consumed. How does a four person company burn through that much dough in what amounts to about 2 years of actual operations? No R&D, no large capital expense, no facilities cost, no depreciation, no advertising and marketing spending to speak of... Can anyone explain that?
That is both wrong and misleading. MEI which is now Marani Spirits is a wholly owned subsidiary of Marani Brands. Read the EDGAR documents. Therefore Marani Brands is operating without a business license. Plain and simple. Furthermore, in addition to the $500,000 Magrit took from the company in 2009 not to mention the $6,000,000 she and the rest of the family took in 2009, she also formed a consultant agreement to get paid on the side through MEI. The only involvement of Marani Spirits was to assign the employment contracts of Ara and Ani and ALL liabilities to Marani Brands. Now there's a deal for the company. Furthermore, e company in that same year spent $1.5 million in expenses for the company and $5.5 million in salary and stock for e three family members. Read the filings. It's all laid out in plain sight. This is not only a scam but a blatant scam going for a double dip. To say that Marani Spirits is the "parent company" without checking is terribly misleading. Not only is it not the parent it seems to be a vehicle to siphon off money and shed liabilities at the MArani Shareholder expense. Bottom line is Marani is the only company represented by the stock and they are not legal. But they don't care because the is no intention to carry this company on much further. Just to sell what's left of huge stock. Same as 2009.
From the SEC filing
Purell and Margrit International Enterprises, Inc., which is now called Marani Spirits, Inc., are parties to a Consulting Agreement dated November 1, 2007 (the "Consulting Agreement"). Warrants (10,000,000) were issued in consideration of services, purportedly performed by Purell under the Consulting Agreement and related to the merger of a subsidiary of the Company in and to MEl, pursuant to which MEl became a wholly-owned subsidiary of the Company and the Shares were issued in anticipation of Purell assisting the Company with receiving approximately $10,000,000 of equity financing. However, no equity financing was arranged by Purell for the Company. Therefore the warrants were not validly issued since the Company did not receive adequate consideration for the issuance of those warrants.
She's collecting money on every front.
Ok Belgian, please show me the corporate arrangement of such. It doesn't exist. You're just guessing. The law is the law and Marani Spirits, according to the records does not own Marani Brands. Please show me the transfer. As a public company it must be official and I cannot find anywhere anything was filed. I see a private company, Marani Spirits owned by Ara, Magrit and the rest of the family and a public company Marani Brands, sitting on all the liabilities. Show me where Marani Brands, the public entity, became a part of Marani Spirits the private company controlled by the "family". It's a total scam and I think you know that. Look at the EDGAR filings. It's so typical penny scam. They're just hoping as most penny scams that no one sues and the SEC doesn't come calling. Usually they don't because no one cares enough.
Just find anywhere in the public filings where Marani Spirits is listed as the owner and in which every shareholder of Marani Brands has an interest. That would shut me up.
Was it Marani vodka you bought and what store? I've been told they're no longer on the shelves. Did you take some pictures? Would love to have some confirmation as many here have said distribution has gone nation wide there. I doubt that.
It's too bad the stock can't be shorted. I'd be loving life. And by the way, for all those that believe pinkies can be shorted, they can't. Strict regulations. Just can't be done. And I'll invite ANYONE to show me how. I've offered this up to those yelling "SHORTS"! for the past ten years and not a single person in probably tens of thousands has been able to do a transaction. That said their are some bucket shops off shore but that's just gambling and isn't reported in actual transactions and is actually totally illegal, at least in the US as of the early 1900's.
I think The company's time is running short. I'd say they need something enormous to cover costs for August. No money left other than stock sales and with that fact known buying stock is an unknown. I'll bet there are the full 700,000,000 shares issued by the beginning of September and no money left after that. Look for some real shady transfers and moves come October to keep it alive a few more months. Honestly I don't understand how they can register shares given their status. I'd have to question it legally.
This is the one that has me scratching my head...
Description
Business Description + Add the business description for this Company
Organization
Marani Spirits Inc
Office Location 13152 Raymer St
North Hollywood, California 91605-4144
United States
County
Los Angeles
Name
Title
Ara Zartarian Vp Sales
Company Profile
This listing is for Marani Spirits Inc's Single Location in North Hollywood, CA. The company primarily operates in the Beer, Wine, and Liquor Stores industry.
Marani Spirits Inc:
•Was founded in 2010 and is Privately held.
•Has $630,000 in estimated annual revenue.
•Employs 4 people.
•Has 4 employees located here at the Single Location.
How much does anyone want to bet that the employees are Ara, Margit, Nina and Ani?
Is this the way they are selling stock through the back door without filing 4K's?
Bottom line it seems there is an evil web of corporate manipulations going on and the same people are involved in every aspect including governance. It's a license to print money and hide the fact. Are they doing that? I don't know and can't confirm such without more homework but it sure looks like it. Every stink associated with a penny scam seems to be present. And it's the second time around for this crew which makes it even worse.
It could very well be that they're just paying themselves their $200K a year and know that's good enough and they're not trying to gouge the public but just try and wriggle out that monthly cash but it's very hard to characterize the $30 million plus that's already gone and the additional $2 million just in the last 12 months that's gone out without questioning it. There's four or five people and a lot of money is involved. Do the math.
66% at minimum in the last 12 months, probably less time than that. And then we don't know the terms of the preferred and it appears they've done a bunch of private placements we know nothing about. Just read some the EDGAR filings from 2008 to p[resent. It's astonishing. They are redefining toxic financing which tells me the only thing they care about is how long they can keep writing themselves paychecks. The funny thing is that not a single part of this family venture has any experience or track history in the industry and absolutely no experience in executive management or consumer product distribution and sales. Dan Senters is a total mystery and seems to have no history whatsoever. For all I know he could have been a bartender before LaVecke and we don't even know how long he was there. Present well but with no history it's hard to make a call. I do give him credit for appearing to cringe and squirm with each and every word coming out of Magrit's mouth during the MoneyTV stuff. I know I would have! That fake laugh, the indirect information and double talk about nothing solid or confirmable... not going to let the cat out of the bag? Paaalease. She's a train wreck as far as a CEO goes. The only thing I can see her doing is showing one bedroom efficiencies to out of work actors in Reseda.
P.S. You'll also notice the corporate identity number on the updated report matches the one you posted. As I said I got the same one you did originally that listed it as active but I didn't buy it because it was redirected through Google to some other non-official site. It was an old link listing non updated information and selling lots of advertising. Gotta' watch out for those. Better to trust the official State of CA site.
Bottom line is there are a lot of red flags here. The biggest ones are common to penny scams. Bad or non-reporting. Insider transactions. Shell companies galore. Transfers of ownership that boggle the mind trying to track them. The same principals in all of the entities involved and most of all $30 million plus down the drain since 2001, but it looks a lot more like since 2007. Where did that money go? After $30 million they're sitting on $600,000 or so of gross revenue and inventory and they shutter the doors and even that $600,000+ disappears in Q1 2010? And then about the same amount shows up in a private company run by Ara a few months later? Just weird stuff.
Yes Belgian, I found that too but there are two problems. First it's not the same company. It's Marani Spirits not Marani Brands. Second it did not have a last updated date but I found one at the State sight that did:
MARANI SPIRITS, INC.
CALIFORNIA CORPORATION
California Secretary Of State Business Registration · Data Updated April 17, 2014
Marani Spirits, Inc. is a California Corporation filed on December 27, 2001. The company's filing status is listed as Suspended and its File Number is C2370447.
The Registered Agent on file for this company is Perez Gonzales Professional Law Cor and is located at 111 E Broadway Suite 210 Glendale, CA . The company's principal address is 13152 Raymer St Suite 1-A North Hollywood, CA 91605.
The company has 1 principal on record. The principal is Margrit Eyraud from North Hollywood CA.
Company Information
Company Name: MARANI SPIRITS, INC.
File Number: C2370447
Filing State: California (CA)
Filing Status: Suspended
Filing Date: December 27, 2001
Company Age: 12 Years, 7 Months
Registered Agent:
Lookup Address on Google Maps
Perez Gonzales Professional Law Cor
111 E Broadway Suite 210
Glendale, CA
Principal Address:
Lookup Address on Google Maps
3152 Raymer St Suite 1-A
North Hollywood, CA 91605
The thing that really bothers me is finding a second listing for Marani Spirits, Inc. filed in 2010 with Ara as the director listed and four unnamed employees. Here's the rub... it's a private company. And, they have $630,000 in sales while Marani brands has about that at the end of 2009 ($490,000 in sales and $120,000 in inventory)but end up with no cash on the balance sheet at Q1 2010. That's very fishy. It looks to me like the cash and assets somehow got transferred to a private entity. Now, if you go to EDGAR, there are so many transactions and confusing gyrations between MEI, the original public entity, employee stock plans and both MRIB and Marani Spirits that it will make you dizzy. Not sure if that was the intent. One curious one was Ara getting 10M shares in Marani for his worthless stock in MEI.
Bottom line is there is no current Marani Brands, Inc. operating in CA. Marani Spirits is a different entity. I'm just confused on how to characterize the whole deal but you can't operate and sell stock under one name and hide behind another. Marani Spirits, Inc. is not Marani Brands, Inc.
Yes, I do think he needs to post his resume. It's a public company. Just about every other company penny or not lists short bios and CV's on key executives penny or not. That's what bothers me so much is that it is so vague and secretive. You seem to be protecting the perpetuation of non-transparency, Why? We all just want the true story. Supporting the concept of not publishing this information gives the company the comforts of being private and the benefits of potentially abusing the resources of being public.
I can't say anything bad about Dan Senters other than he seems to have no history prior to LaVecke which wasn't really a spirits company but a non-branded private labeler/rectifier. My question would be was where did he get his branding and marketing experience? And the only positive thing I could think of in the fact that there is absolutely no other background or information on him is that he spent his entire career at LaVecke. It's a little too mysterious to excuse.
Anyway, to bet everything on one guy who seems to have no confirmable history, background or experience in consumer products or branded spirits sales and distribution is quite daring. Just a notice to those who aren't quite as willing to trust everything they hear.
No. Those are licenses to distribute spirits not operate a corporate entity. The ABC license is easy to get bTW. Anyone can do it and mst states the application is on line. Doesn't cost much either. Getting a retail license is the tough one.
And just to save you some time...
Entity Name: MARANI BRANDS, INC.
Entity Number: C3101363
Date Filed: 05/19/2008
Status: FTB FORFEITED
Jurisdiction: NEVADA
Entity Address: 6490 W. DESERT INN ROAD
Entity City, State, Zip: LAS VEGAS NV 89146
Agent for Service of Process: PEREZ GONZALEZ PROFESSIONAL LAW CORP
Agent Address: 111 E BROADWAY SUITE 210
Agent City, State, Zip: GLENDALE CA 91205
Because I know many would be yelling for proof and links. The facts speak for themselves. And as I said there are a web of other companies ii have not really unraveled yet. Oddly enough, Marani Spirits, a private company formed in 2010 and apparently in good standing with the family listed as directors. Even more odd they report $630,000 in annual sales.
Most of that is untrue and simple misinformation. First, they are not in any grocery stores. May have been 5 years ago but I doubt that, but they have zero grocery currently. The foreign contracts are vapor. They did this same thing back in 2009 announcing multiple foreign contracts that ended up being non-existent and not a single bottle fulfilled. Expanded product line? Again, same ruse they used in 2009 and never a single bottle of anything produced. There are no additional products. Even then, they can't sell the vodka they have. How are they going to buy and manage additional lines? Costco nationwide? Sorry, that's not happening now and probably never will. There's even some question as to whether they are still being carried by the test stores. No reorder has been confirmed and no expansion announced or confirmed. Just a hope that it could happen.
And here's another little tidbit which only goes to show he level of DD is almost zero and confined to believing everything the company says. Marani Brands is currently operating under a California business license that's was suspended/forfeited. Most likely has been for quite some time and probably based n the tax issue. A simple check the CA Secretary of State records will confirm this. What does this mean for the company?
The business loses its rights, powers, and privileges to conduct business in California.
The business loses the right to use its business name in California. In turn, another business could register with the suspended or forfeited business' name, and the name would then belong to the other business.
The business cannot initiate lawsuits, defend itself against lawsuits, or enforce its legal contracts. But other parties can enforce their terms in these contracts.
If the business enters contracts while suspended or forfeited, it can never enforce those contracts unless it obtains relief of contract voidability.
Suspensions and forfeitures are public information.
The business loses the right to get an extension to file a tax return.
If you check deeper there is also a web of other Marani companies both private and public dating back to 2001 with one of the family memberS or all of them listed as officers. Marani Spirits, Marani, inc., etc. looks like a real shell game going on but I'll dig through that later and get back to you all. Bottom line is there is just so much shady stuff going on and misrepresentation.
So you're saying the company lied in their last statement? You might be right because those taxes have been hanging out there for a long time and they stated only the $250,000 in principal without any penalties and interest which could be substantial. Now if you are saying there are no payroll taxes due according to your DD please tell us how you came to that conclusion when the company stated otherwise just last month? The $250,000 is itemized on their financials. Also, keep in mind this is not a simple IRS issue like back income taxes. There is the issue of the FTB which is far more aggressive and has far more power given the company is operating in the state of California. And as I said, these are payroll taxes not income taxes. These were monies collected by the company as a fiduciary from employees not tax due on revenue. The state and fed both view that money as untouchable and non negotiable.
I've asked you about Dan Senters. I've tried to check him out. Nothing to find. He has no history. Only what Marani says which I couldn't confirm. Did you? We'd love to know. He presents well but him putting up with Margit really bothers me. No self respecting executive would unless he was desperate, in trouble or otherwise unemployable. I actually like him. But it just doesn't add up. It's like Warren Buffet working for LEona Helmsley.
EDD is the one to worry about. California is so desperate for revenue they go after anything they can with a vengeance. I posted a story about how they went after me for a $147 balance that was 16 years old that I didn't even know about as I had moved from the state. The penalties, interest and costs associated were into the tens of thousands... If that $250K has been floating for 5 years I guarantee it's well over a million in liability. That's why I think they will walk away from this just like they did in 2009. Just need to sell the rest of the stock, get a couple more paychecks and then shutter the place. Family resigns, they go dark and in 2020 or thereabouts, start it up again and run the same deal.
And what do we know about Dan Senters? What is it that makes so many think he's God's gift to any company in the spirits business? His background is very spotty and unconfirmed. His last job was with a private label bottler so absolutely no branding, marketing or advertising experience in actual consumer branding. Before that job it's very spotty. He's probably close to 50 years old and he works for Margit Eyraud. What do you think he's being paid? 50 years old, 25 years experience, a company with no cash?Think about that. He had to own up to $2500 in sales for Q1 2014 but did he? I think not. Something is not quite right. Personally, I think I could sell more Marani going door to door at bars in LA. 25 or 30 cases? Really?
But since many have anointed Senters the messiah let's hear a little about what you know about him and his experience outside of private labeling (other people's products). And don't echo back company PR.
If I were 50 years old and a serious executive in the space I wouldn't even think about working for Margit and her family and I don't think they could come close to paying me. Just wondering how or why he can or would.
Let's approach this a different and more objective way. How many cases do all the longs thing Marani can sell in a given year? Then we'll look at the math and fundamentals. Like I said, "it tastes good" and "I saw someone buy a bottle in a crowded Costco" is not a basis for valuation.
All true points but there comes a point of abuse and I think we've reached that point as we did with the exact same group of people back in 2009. Issuing shares without updating the public is just wrong and I doubt legal. They did 340 million worth of private placement deals in late 2013 and early 2014 and kept it secret until June 2014. They pay themselves more in salary than gross margin product ordered this year. It looks to me as though salaries and officer/management expenses run as much as twice the entire potential gross margin revenue for the year. They're all (3)getting around $190K according to filings and then they have a CFO and she's not listed. Probably a couple of others as well. It's very quickly looking like a 2009 replay. And let's not forget their total loss since inception in over $30 million. Where did that money go? They did maybe $2M in sales over the years so there's another 28 million that's gone missing. No inventory, no branding programs that were done, no advertising that can be accounted for. That doesn't concern you? Pennies often promote a semi-existent product in order to perpetuate the abusive actions and this is really starting to look like one.
Identical? How so?? A/s reduced. Bring in Dan senters. In 13 costcos and 6 restaurant depots? Expanding into more costcos. Brazil, DR AND Mexico. Also, now have a marketing plan which commercials in place. I really have no clue where you come with your thoughts
I doubt that Joerich. I don't think their game plan lasts that long. It's virtually identical to the tanking in 2009 right down to the foreign contract claims, advertising and expanded product lines. None of them came through then and none have come through presently. Management continues to pay themselves handsomely and sales are non-existent. I'd predict they walk away from it in a few months just like 2009. Sell out the rest of the approved shares and when the money runs out, bail. Rolex gets a Timex.
What common sense would that be? There are worse pinks and this is a less offensive turd? Can you back up any of your claims as to legitimate value with hard data? I think we'd all be interested in seeing your valuation method. Tastes good and I talked to someone on Facebook isn't cutting it. How can a company that's burned through $30 million plus with only four or five employees, tanked once already, has no cash and has 510 million shares out there of which 340 million were issued in the last year or so for a 66% dilution, be a company of any value? They have no sales to speak of. They have no inventory to sell other than the $200,000 worth at gross margin which is worth $.0001 share price book. Do you think there's something, anything that warrants a 200X multiplier on a commodity consumer product? This isn't an internet company. They have costs. It's not virtual product.
Fair valuation is based on numbers and facts. So it's really simple everyone. $200,000 less costs, less operating is $60,000 every 6 month (and I think that's being generous). $120,000 in revenue over OS is book at $.0002 per share. As an importer, not a manufacturer a fair multiplier would be 10X making their fair value roughly $.002. Now this doesn't even take into account they owe $2 million plus in payables or that they have a 5 year old payroll tax issue of a quarter million accumulating penalties and interest. I see no basis for your valuation claims but I welcome you to present them. Just give us some objective data with backup versus personal opinion. You must remember that people may read what is said here and believe it for fact or supportable information. If it is not, it is misinformation.
Other than trying to understand the euphoria associated with changing infomercial production companies I'm astonished by the lack of attention to the obvious funny business. When I purchased this stock I was assured there were 175,000,000 shares outstanding. Then 3 months later I find out that there are closer to 500,000,000. No filings or disclosures, nothing. There's something very wrong with that, very wrong. But somehow people are rationalizing it into something positive? I think there could be some very serious issues here and sooner or later they're going to catch up with management. As far as national TV, that's a total pipe dream. The only chance for that would be a spot on American Greed. I can't believe that what was done is legal but will check into that further. Their 15 filing in 2013 was very fishy. But again, same thing they did in 2009.
Yes. This is true. Last chance to get in at .019 before it tanks. No sales. No marketing. No advertising, no branding. Costco sales kept secret. No audited financials. Same crew of folks who tanked this deal in 2009 and made off with a lot of shareholder bucks. They've diluted the stock by close to 300% going from 175,000,000 to over 510,000,000 in the last year or at least from their last official reporting. It's unreal that no one can do their DD and see this let alone pump a PR release in the way they've done in good conscience. Broadcast West is just another Money TV without the toxic association of what Money TV really is which is a stock promotion. You need sales to meet PPS. There are none and they're not talking which tells me there's nothing there. If there were, they'd be telling us but they're not. Sales must really suck.