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| | Business Summary: Marani Brands, Inc. engages in the distribution of wine and spirit products manufactured in Armenia. The company's signature product is Marani Vodka, a premium vodka which is manufactured exclusively for the company in Armenia. | | | Address
13152 Raymer Street, Suite 1A
North Hollywood
, CA 91605
Phone: 818-503-5200
Fax: 818-503-4478
Website: http://www.maranispirit.com
| | Auditor |
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Gruber & Company
| | Transfer Agent |
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Standard Transfer & Trust Co., Inc.
| Employees: 9
ShareHolders: 50 | Founded: 2001
Domicile: Nevada | | | |
| | Marani Brands, Inc. engages in the distribution of wine and spirit products manufactured in Armenia. The company's signature product is Marani Vodka, a premium vodka which is manufactured exclusively for Marani Brands in Armenia.
Marani Vodka is made from winter wheat harvested in Armenia, distilled three times, aged in oak barrels lined with honey and skimmed dried milk, then filtered 25 times. Bottling of the product occurs at the Eraskh distillery in Armenia.
In addition to the company's premium vodka, in the future Marani Brands intends to distribute the following products: various premium brandy products manufactured by Eraskh; and a line of sweet dessert wines manufactured by Eraskh.
The company's marketing and business plan is focused on maintaining and expanding its channels of distribution and enhancing brand recognition for Marani Brands' premium vodka product through its rebranding, advertising, promotional and distributor relations efforts.
The company is a client of Southern Wine & Spirits of America, Inc., a distributor of alcoholic beverages. Marani Brands has also established additional distributors in certain states, and it intends to enter into arrangements with other distributors to maximize distribution of its products in the United States. The company also identified appropriate distributors of Marani Vodka in India, and it began shipping in June 2009.
Marani Brands sells its products principally to wholesalers for resale to retail outlets including grocery stores, package liquor stores, chain and boutique hotels, bars and restaurants. In the future, in addition to selling its products to wholesalers, the company may sell its products directly to major retailers and chains. | | History: INCORPORATED in Nevada July 31, 2001, as Elli Tsab, Inc.; name changed to Patient Data Corp. Apr. 15, 2004, to Fit For Business International, Inc. Jan. 13, 2005, and to Marani Brands, Inc. Mar. 24, 2008. On Apr. 7, 2008, the company acquired Margrit Enterprises International, Inc. through the merger of a wholly owned subsidiary of the company into Margrit, which changed its name to Marani Spirits, Inc. As part of the merger, the shareholders representing 100% of Margrit's issued and outstanding Common shares exchanged their shares for 100,000,000 Common shares of the company. As additional consideration, the company issued, at closing, 42,594,616 Common shares to Purrell Partners, LLC, or its assigns (the Purrell Group); and a warrant to purchase 10,000,000 Common shares at an exercise price of $0.10 per share to the Purrell Group.
Margrit Enterprises International, Inc. was incorporated in California in December 2001. | | | | Subsidiaries: |
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Great Hawk, Inc.
Marani Spirits, Inc.
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Management
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| Officers | Position |
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| Margrit Eyraud | Chairman, President & Chief Executive Officer | | Ara Zartarian | Exec VP & Chief Operating Officer | | Ani Kevorkian | Chief Financial Officer |
| | Directors |
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| Margrit Eyraud | | Ani Kevorkian | | Ara Zartarian | | | |
| | | | Capitalization as of 06/30/2009: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 300,000,000 | 181,401,796 |
| | | | LONG TERM DEBT: $124,680. | | | | Common $0.001 par | | | |
Stockholders:
10/09/2009,
50.
| | PRINCIPAL STOCKHOLDERS: June 30, 2009, Margrit Eyraud owned or controlled 21.4% of the Common, J.B. Black Sea Fund 14%, Ani Kevorkian 9.9%, Ara Zartarian 5.9% and RBC Dexia Investor Services Bank S.A. Luxembourg 5.1%. | | | |
Transfer Agent: Standard Transfer & Trust Co., Inc.
Las Vegas
, NV | | | | OTC Bulletin Board( Primary): MRIB | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 1.8000 | 0.0100 | | OTC Bulletin Board | 2008 | 6.0000 | 0.5100 | | OTC Bulletin Board | 2007 | 17.5000 | 1.2500 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-250, Mar. 31, 2008. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| Net sales | 402 | 168 | | Cost of Sales | 177 | 49 | | Operating Expenses | 6,598 | 3,660 | | Oper. income | (6,373) | (3,541) | | Direct Offering Costs | -- | 11,779 | | Interest income | 30 | 10 | | Loss on Disposal of Fixed Assets | 6 | -- | | Derivative income | (247) | 104 | | Interest exp. | 119 | 161 | | Net income | (6,715) | (15,367) | | Share earns. basic | ($0.04) | ($0.12) | | Share earns. diluted | ($0.04) | ($0.12) |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| Assets: |
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| | Cash & equiv. | 1,116 | 2,461 | | Accts. rec., net | 139 | 30 | | Inventories | 171 | 77 | | Tot. curr assets | 1,456 | 2,568 | | Deposits | 10 | 34 | | Net property | -- | 6 | | Total assets | 1,466 | 2,608 | | Liabilities: |
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| | Notes pay. | 330 | 80 | | Line of Credit | 1,000 | -- | | Accts. pay. | 632 | 261 | | Accrued Expenses | 454 | 94 | | Derivative Liability | 247 | -- | | Tot. curr. liabs. | 2,663 | 435 | | Notes pay. | 125 | 250 | | Common stock, $0.001 par | 181 | 170 | | Paid-in cap. | 22,826 | 19,428 | | Stock Subscriptions Payable | 60 | -- | | Retained earns. | (24,389) | (17,675) | | Total liabs. | 1,466 | 2,608 |
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* Effective April 7, 2008, Marani Brands, Inc. issued 157.7 million com. shs. for all of the outstanding shs. of Margrit Enterprises International, Inc. (MEI). Transaction was acctd. for as a reverse acquis., with (MEI) being deemed the acquiring company. MEI subsequently changed its name to Marani Spirits, Inc. | | | |
| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 110,000 | | 2010 |
2 | 40,000 | | 2009 |
1 | 20,000 | | 2009 |
2 | 90,000 | | 2009 |
3 | 80,000 | | 2009 |
4 | 210,000 | | 2009 |
Full Year
| 400,000 | | 2008 |
1 | 20,000 | | 2008 |
2 | 20,000 | | 2008 |
3 | 40,000 | | 2008 |
4 | 50,000 | | 2008 |
Full Year
| 170,000 | | 2007 |
Full Year
| 170,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 210,000 | | 2010 |
2 | 5,160,000 | | 2009 |
1 | (770,000) | | 2009 |
2 | (3,370,000) | | 2009 |
3 | (670,000) | | 2009 |
4 | (1,890,000) | | 2009 |
Full Year
| (6,710,000) | | 2008 |
Full Year
| (3,440,000) | | 2007 |
Full Year
| (540,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | Nil | | 2010 |
2 | .03 | | 2009 |
1 | Nil | | 2009 |
2 | (.02) | | 2009 |
3 | Nil | | 2009 |
4 | (.01) | | 2009 |
Full Year
| (.04) | | 2008 |
1 | (.02) | | 2008 |
2 | (.15) | | 2008 |
3 | (.01) | | 2008 |
4 | (.05) | | 2008 |
Full Year
| (.11) | | 2007 |
Full Year
| (5.79) |
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