DD Support Board and Research Team

[hedge_fun]

MRIB Research Report ~ Part Deux

This is an updated research report and includes recent developments concerning the company that center on the company's alcohol license, or lack thereof.

Marani Brands (MRIB) is the holding company of Marani Spirits, according to the filings. MRIB is an active NV corporation. Marani Spirits is now an ACTIVE CA entity as of 12/20/13 after being SUSPENDED.

Marani Spirits recently told at least two Ihub members via email they would have a "current" (active) license with the CA ABC as of 12/20/13. THAT DID NOT HAPPEN. They are not licensed to import or distribute Marani Vodka into the US, and haven't been since 2011.

Email correspondence with Marani.....

1) Is a state liquor license really required to be able to distribute? If so, could you please let me know if you applied for such a license, as the previous one is revoked?

1. You will see we will be current in California as of 12/20/13.

Federally we are Current.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=95144393

And another email response from the company.....

From: [e-mail] [mailto:[e-mail]]
Sent: Thursday, December 19, 2013 1:58 PM
To:
Subject: RE: Company Transparency

Thank you for the update!

It is our goal to ensure that all issues are handled as it may be a priviledged.

The answers to your questions..
1. Yes, we are currently working with a payment plan.
2. CBA will show current end of day 12/20/13.


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=95144935

Marani Spirits licenses have been REVOKED with CA ABC since 10/14/11. They haven't been in business for over 2 years, nor have they re-applied, even though they told 2 Ihub members they would be licensed as of 12/20/13. Typically it takes 2-3 months to be approved AFTER you apply, which they have not.

http://www.abc.ca.gov/datport/LQSdata.asp?ID=19439329

MRIB has been suggesting to the investment community that they would begin a roll out in the US "the first of the year". That can NOT be done without a license. Watch this video and around the 1:05 mark the "first of the year domestic launch" is mentioned and elaborated on.

http://ih.advfn.com/videos/market-commentary/marani-announces-retail-price-for-vodka-moneytv-with-donald-baillargeon_IxsVuZ4hcw0

MRIB owes over $236K in payroll tax, and has for quite some time.

Payroll taxes payable $236,248 as of June 30, 2012
Payroll taxes payable $236,248 as of June 30, 2013
Payroll taxes payable $236,248 as of Sept 30, 2013

http://www.otcmarkets.com/financialReportViewer?symbol=MRIB&id=112598

Cash Paid during the period for income taxes $800 as of June 30, 2008.
Cash Paid during the period for income taxes $800 as of June 30, 2009.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7441845

In October, 2009, Juggernaut Advertising, Inc. commenced arbitration proceedings against the Company seeking damages, including legal expenses and interest based upon an alleged breach of contract by the Company.

Marani Brands Engages Juggernaut to Roll Out Advertising Campaign

NORTH HOLLYWOOD, Calif.--(BUSINESS WIRE)--Marani Brands, Inc(OTCBB:MRIB) is pleased to announce the engagement of Juggernaut Advertising to head its advertising campaign for 2008 and 2009.

http://www.businesswire.com/news/home/20080620005690/en/Marani-Brands-Engages-Juggernaut-Roll-Advertising-Campaign

In December 2009, an arbitrator ruled that the Company was required to pay Juggernaut $219,777 for monies owed under the contract, accrued interest, legal fees and costs. In addition, the arbitrator also determined that the Company should reimburse Juggernaut $5,849 in respect of costs of the arbitration that were previously paid by Juggernaut, based upon the arbitrator’s apportionment of the costs of the arbitration. The Company has accrued the entire $225,626 in accounts payable and accrued expenses and is in the process of evaluating whether or not to appeal the decision of the arbitrator.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7441844

Looks like it's still on the books.

Accounts payable and accrued expenses $504,187 a/o 9/30/13

http://www.otcmarkets.com/financialReportViewer?symbol=MRIB&id=112598

At last report MRIB had $564 cash. A lawsuit has been filed by Michael Owen in Pa stemming from a $66K judgment in 2011 for back wages the company owes him. It was posted in the LA Times recently. (Click twice to enlarge)


CA law allows for licenses to be "sold" so creditors can collect. Marani has lots of debt and getting a license may not really be an option.

Marani is not in the business of selling alcohol, at least not in CA. They hold a federal importers license, but TTB rules require all state and local regulations to be followed. Until Marani gets a license approval in CA, they can't import alcohol into the US.

They could sell any remaining product they may hold, but it can only be done under the strict supervision of the CA ABC, and proceeds would likely go towards paying back taxes.