Marani Brands, Inc. (OTCMKTS:MRIB) Surges On

MRIBchart3.pngThe stock of Marani Brands, Inc. (OTCMKTS:MRIB) had a great start of the week when it added nearly 55% to its value and reached a new 52-week high of $0.023. The closing price was just a little bit lower than the highest for the day which may suggest that the momentum will carry over to today’s session. The 39 million traded shares weren’t the highest seen by MRIB but the total value of $790 thousand was a new record for the company.

The impressive performance shown by the ticker recently has started to attract some pumpers. Yesterday Money Runners sent another email alert touting MRIB but they are doing it for free taking advantage of the already substantial hype that has accumulated around the company.

MRIB returned to active trading in August after two years in hibernation. Thanks to the $40 million distribution agreement to Brazil for their vodka they almost immediately started attracting attention. The contract spans over 5 years with the first shipments scheduled for January next year. Still the company demands caution when dealing with their stock.

The last financial report from them covered the quarter ending September 30 and it contained some rather discouraging figures:

  • $564 cash
  • $135 thousand total current assets
  • $1.8 million total current liabilities
  • zero revenue
  • $194 thousand net loss

As we said in our previous articles we have no information about how much MRIB have been able to improve their financial state but nowadays they have so much spare funds that they are sponsoring an offshore boat race. The CEO of the company NNRXchart5.pngseems confident enough to state that they will not be looking for any funding sources that will result in dilution of the common stock.

Keep in mind that in the past MRIB already tried to market their vodka once and had a deal for distribution to India but ultimately failed to produce any meaningful results. The other company that was being propelled upwards due to the hype they generated crashed horribly in yesterday’s session. Nutranomics, Inc. f/k/a Buka Ventures Inc (OTCBB:NNRX) wiped more than 54% off of their price and dropped to $0.56 per share leaving a lot of invstors scrambling to cover their losses.

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