Excerpts from Apr. 10/14 video interview with CEO and Dan Senters, Vice President of Distribution:
1. $40 million distribution contract in Brazil - Update on how process works:
i) Marani initially files trademark with the country that Marani is going into (6 months)
ii) Look for distribution partners and choose an appropriate partner that is going to serve Marani the best and give efforts that will make big difference for Marani to create partnerships
iii) Apply for government and label approvals with product approval (3-6 months for each approval)
iv) After approvals are completed, then our distributor will open a letter of credit (30-60 days) and begins shipping
2. Very recently, Marani received Government approvals to ship the product into Brazil and distributor is now in process to open a letter of credit.
3. Mexico is a very exciting deal for Marani as Marani will be available throughout Mexico:
i) Marani has already filed the trademark in Mexico
ii) Marani is waiting for final proof of acceptance all the way through and Marani already has an agreement in place
iii) Marani is in the process of submitting all the product and documentation to get it approved to ship into Mexico
iv) Partners in Mexico are a phenomenal group of people who are putting a great amount of effort and working diligently and closely to market and distribute the product in Mexico
v) Distribution for Mexico is expected to be in Q3 2014
4. Hi-Time Speciality Cellars - big distributor in coastal California:
i) Sales are exceeding expectations
ii) Marani talks to the buyer a couple of times/week
iii) The buyer is excited and behind the brand 100% and Marani will be delivering more product tomorrow
5. National rollout: Rollout is under way in Southern California and marketing plan is being rolled out in Southern California and expanding into Northern California
6. Ready to announce a national program, but at this time Dan can't announce it until steps are completed (registration, label approval, finding distributor) - Right there to announce a big distribution agreement
7. Dividend to shareholders as an appreciation to current and previous shareholders will be issued to shareholders on Monday.
8. The company has retained a top-notch law firm in California, if not the U.S., to address issues with mostly untrue messages against company and a response will be filed soon.
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