Marani Brands, Inc. (OTCMKTS:MRIB) Goes Further Up Pushed by Hype
In just three sessions the stock of Marani Brands, Inc. (OTCMKTS:MRIB) has more than doubled its value. On Monday it opened at $0.007 while after the end of yesterday’s trading it was sitting at $0.165, more than 35% higher than the previous close. The number of traded shares has declined a bit but the 28 million shares changing hands yesterday are still massive compared to the average for the company of 8 million. The current market price is the highest for the company since it became actively traded once again.
As we said in our previous articles about MRIB when a pennystock starts to form such a positive run up the chart it is more often than not thanks to a paid pump touting the company. That however is not true, at least for now, as MRIB have been able to generate momentum by themselves thanks to the $40 million distribution agreement to Brazil that they unveiled last month. The deal spans 5 years and starts with a minimum of 2 containers per month of MRIB‘s brand of vodka.
Early this morning they released another PR announcing that the company is reducing the amount of its authorized common shares from 1 billion to 700 million with the currently outstanding shares around 400 million. More importantly they state that MRIB will not be looking for funding sources that will cause further dilution of their common stock.
Although such intentions sound promising we still have our doubts especially when you take a look at the last financial report for the quarter ending September 30. Back then MRIB were in a rather worrying financial state:
• $564 cash
• $135 thousand total current assets
• $1.8 million total current liabilities
• zero revenue
• $194 thousand net loss
• $135 thousand total current assets
• $1.8 million total current liabilities
• zero revenue
• $194 thousand net loss
It is quite obvious that with such numbers no real operations can take place but we have no information if MRIB have indeed been able to secure new funds. Another point of concern is that MRIB had already tried to commercialize their products in the past but the attempt was unsuccessful. In 2008 they announced an agreement to distribute their vodka to the Indian market. We can easily see how well that 
went when the company was forced to go into a two-year hiatus with no financial reports being filed until its recent resurgence.
went when the company was forced to go into a two-year hiatus with no financial reports being filed until its recent resurgence.The hype around MRIB may still push them higher but remember that chasing after stocks is always risky especially when just 3 months ago the stock was sitting well into the triple zeros. Currently another company is making a rather impressive hype-induced climb. Nutranomics, Inc. f/k/a Buka Ventures, Inc. (OTCBB:NNRX) were able to pass the $1 mark this week and yesterday went even highr closing at $1.09 per share.
