Marani Brands Inc. (MRIB)

[Matthew Berg]

I agree. Looking at a picture and making the determination that a huge Marani reorder was made by Costco is quite twisted. As for the facts, MRIB lists on their Facebook page that Marani is only available at six Costco locations. Overall sales as noted in the latest financials are down close to 40% and the company had zero cash on hand and $2000 or so in realistic receivables. Total net sales are now at a run rate of roughly $2,000 a month not taking into account the loss of eight Costco locations and expenses were only reduced less than 17% from $360K to $300K per quarter with significant increases to debt now at $2.7 million, accounts payable and unpaid payroll taxes. This is not to mention interest expense alone in excess of ten times net sales.

Brazil has not shipped and there's been no status update in close to three months. Dominican and Mexico deals are long forgotten having served their purpose in PR. There are no employees left and no sales force. There is zero advertising and marketing and the MRIB marketing and advertising partner Zodiac Brands has been dark and dormant just as long as MRIB since October 2014. Also long forgotten is the roll out of other products, wine, brandy, beer, etc. Again, having served their PR purpose but as with all MRIB hype and PR, total bunk and undelivered. Not looking quite as bright as you make it out to be.