We've been hearing this story of things happening at MRIB for some time now. What is it? Almost a year of rapid unrecoverable decline to the current stagnant low of $.0003. And we have all been watching where the PPS goes. It's only been one direction, downward, and now MRIB barely trades, regardless of no sellers, as there are so few buyers at any price. The word is definitely out on MRIB.
We've also heard tales of Southeast retail stores yet no one seems to know where and MRIB has not released any information yet they updated their web site with A-1 Liquor just the other day. So it's relatively easy to assume any retailer they get goes on the list ASAP and with none in the Southeast it pretty much confirms that Southeast sales are simply wishful thinking.
And on the topic of Southeast market, it would have little to no impact. As MRIB is limited to only Georgia and Florida (two of the most restrictive states on liquor sales) the potential market is miniscule. The Southeast is a small market to begin with. High per capita sales but small overall sales. Only Jacksonville makes the top twenty nationally ion population. Miami and Atlanta barely make the top fifty. But more importantly I'd love to hear someone explain how MRIB would be able to sell in any market given their incredible failure in California? Switching focus to a new region doesn't change the game. It's not like they were trying to sell snow tires in Tampa and refocused on Minnesota. What is different about the Southeast? What is MRIB going to do differently? What have they done in the past two years there?
Bottom line, with no money, credit, offices, employees, sales force, marketing, advertising or competent mangement, any effort outside of California will be even more anemic. My assumption would be that the talk of Southeast sales from wherever it's coming is simply a distraction to give the appearance of change that somehow represents hope for a reversal of fortune for MRIB. It should be looked at logically as Einstein once said. Insanity is doing the same thing twice and expecting a different result. Fact remains that with each passing day and no results the reality that MRIB has in fact shut down is slowly settling in. The move from current PPS levels of $.0003 to zero should be far more rapid than the decline over the past eight months as more and more people realize MRIB was a scam. I'd bet MRIB is finished off no later than December as folks finally give up and take their tax loss. No reason to sell now.
