Honestly Verax, I don't think Margrit can pull off MRIB 3.0. The news is out and the cat's out of the bag. I still contend that MRIB was shut down back in October. The latest financials show so little real revenue when you read between the lines that it's hard to believe there is any operations going on. How Margrit spent $300K in three months is another story.
Look at the facts. In eighteen months what the financials show are what looks like phony sales. They just keep claiming sales and whacking up A/R but never show any payments of significance. It would appear that since the start of MRIB 2.0 they in reality have sold and collected on only $15K or so worth of Marani vodka. If you total up all the gross sales since their rebirth it totals $102K. But their A/R is now up to over $85K.
Furthermore, they show only a $25K depletion in inventory against those claimed sales so they are obviously booking sales not shipped. That's pretty much a big no-no. I'm thinking that all of these one off Armenian stores and so called distributors in Margrit's hood are just locations for parking product, real or fictional. Sales to Remedy Liquor alone would have brought in over $5,000 in cash. Where is it? Costco if all the stores MRIB claims bought should have generated $15,000. There's just two locations and already $5,000 more in what should be paid for product yet the books don't reflect it.
And then there is the two new containers. The first went on the books in June 2014 and has sat untouched for well over a year. They haven't even cracked it yet. Increased demand? LOL. The second in January 2015 I'm convinced went to an entity other than MRIB or was just a doctored BOL to give the impression of impending sales. It's not on the financials at all. The records show that MRIB still has $76,000 in inventory left from MRIB 1.0 for God's sake!
Lastly, $525 for marketing and advertising for the whole first quarter? No one's trying to sell vodka. I'm sponsoring an event this week at Laguna Seca and spent that just on my golf cart rental for two days! $175 a month is not going to sell anything and that's why I don't think they're even trying. Just trying to keep the illusion alive to trade stock. And given Margrit can't get any more convertibles done you have to wonder where she came up with the $300,000 last quarter. Hmmm....?
