Marani Brands Inc. (MRIB)

[Matthew Berg]

It's analysis not news. The O/S didn't have any effect on debt because it was all paid off in shares. It's in the financials. Do the math. You can also easily make the assumption that there was neither intent nor ability to pay of the notes in any other way. To borrow $600,000 with an annual sales rate of $2000 a month is not reasonable and no lender would do that without the promise of shares. The fact that MRIB gave them away at ten cents on the dollar is even more proof. As far as the notes being just on paper short term is just fact. Some were six month, some were a year. The notes as seen in the issuance history were just a formality and wiped clean on issuance of shares.

As far as Margrit's car payment. Do the math. The company pays for it as part of her employment contract which is also documented. Considering no revenue source other than the highly discounted convertible debt her car cost the company ten times face value. That $700 lease payment actually cost MRIB and its shareholders $7000 a month.