Marani Brands Inc. (MRIB)

[Matthew Berg]

What's nonsense? Where's the "fuzzy" math? The CEO of the company said they got 1600 cases. This was confirmed through INTL BOLs. Whether they're paid for or not doesn't even matter but if sold through they have zero inventory and one container sold in nine months. They've said nothing of any other new shipments. That means they have a maximum of roughly $217,000 in gross margin sales for the year plus the $2500 already recorded over the past nine months for old inventory. Nothing fuzzy there. Pretty straightforward math.

Given the burn rate of $100,000 a month before even addressing the $2M in arrears including a quarter of a million in unpaid payroll taxes, penalties and interest unknown, they stand at an operating loss of at least $700,000 for the last nine months which seems to be in line with what they've already published albeit unaudited. I actually think it's a lot bigger loss but I'll give them the benefit of the doubt for the time being. But their stated cash position at the end of Q1 2014 was $0. That's simply a fact. Please refer to the balance sheet published. I'll even give them credit for the receivables and subscription agreement (whatever that was) as cash and they're still under water in a big way using simple math and facts not speculation of what people would like to think has been shipped or sold.

I would be more than happy to correct the calculations if you can indicate where you think they are mistaken. I certainly don't want to mislead but I don'[t think I have. If anything I think I've been more than generous in the company's favor. I'm just going on what the company tells us and publishes.