The holiday season is quickly closing in on one particular industry’s biggest revenue generating quarter: Wholesalers of Beer, Wine and Distilled Alcoholic Beverages. Coincidentally, one penny stock which has mastered this industry, Liquor Group Wholesale Inc. (LIQR), made it clear to inform the world of their presence with Friday’s PR. After recently filing what could be considered as the most detaled and professionally prepared year end financial statements, could LIQR stock be one for the record books or for the booking records?
Have LIQR on your radar screens this month for a possible breakout.
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LIQR Stock Chart
Market Cap: 238.40K
Friday Close: 0.022, no change
Dollar Volume: $0
52 Week High: 0.16
52 Week Low: 0.021
Ytd Average Volume: 507
Issued and Outstanding: 10,836,335
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A few details regarding Liquor Group Wholesale need to be addressed in order to justify why LIQR stock is worth more than a look.
Back when the Company was a regular SEC filer (3 years ago), their net income for the nine months ended May 31, 2009 was $159,079, a 348% increase compared to the same period in 2008: $35,492. (see here)The significance of three year old data is that it was the last 10-Q filed by the Company prior to delisting from the OTCBB for failure to complete its 2008 year end audit within the requirement times of SEC Reporting Rules and Regulations due to a change in auditor and other issues. (see here)
However, after the time period when the last 10-Q was filed with the SEC, LIQR stock traded within ranges which are notable for speculators looking to possibly see 1,000% gains or more: (quarterly price range)
November 30, 2009: $0.19 / $0.20
February 28 2010: $0.75 / $0.11
May 31, 2010* $11.00 / $0.22
August 31, 2010: $11.00 / $5.90
November 30, 2010: $8.00 / $1.05
February 28, 2011: $3.00 / $1.05
May 31, 2011: $3.00 / $1.98
August 31, 2011: $1.98 / $1.94
November 30, 2011: $1.94 / $0.10
February 28, 2012: $0.10 / $0.025
May 31, 2012: $0.16 / $0.021
August 31, 2012: $0.12 / $0.021
Sales for the recent fiscal year ended August 31, 2012 are not as sparkly as they were for the same period last year. Total sales came in at $383,424, roughly 12% of fiscal 2011 sales: $3,447,940. Why the huge reduction? We’re not sure, nor willing to dig that deep, but what we do know is that Liquor Group Wholesale’s President and CEO, C.J. Eiras, wants his money and he wants it now.
Subject to recent allegations of hiding or moving booze with the intent to defraud the state of excise taxes, C.J. Eiras (Christopher John Eiras), 39, was jailed in lieu of $2.25 million bail according to the Florida Times-Union, the newspaper covering the Jacksonville area where Liquor Group Wholesale is based. (see here) The clearly indicated demands of Eiras, as per the recent year end report filed, state that:
C. J. Eiras has forgone collection of all salaries due and owing to him from the company for all compensation periods form FY 2007 to FY 2012, in lieu a demand note that accrues interest at a commercially available simple interest rate of 5% per annum. This deferment has now totaled more than $1M. Mr. Eiras has not agreed to defer his 2012 compensation, and has notified the company that it must begin to service these demand notes, which may have a negative effect on the companies’ operational capital.
The Company covers in detail how the charges against Eiras are, in their perspective, unsubstantiated in their year end filing but doesn’t cover where they are going to get the $250,000 annual salary they owe to Eiras for the last 5 years. Sell some LIQR stock perhaps.
About LIQR Stock
Liquor Group Wholesale Inc. is an emerging alcohol distribution/ brokerage organization representing thousands of brands. The Company manages all wholesale operations and receives all net profits generated from the wholesale supplier-to-state distribution of alcohol products on behalf of manufacturers in as many as 33 U.S. states.
Click here to review the Liquor Group Wholesale, Incorporated Year End Statement.
Bottom Line: LIQR could be a smoking hot penny stock when it begins to trade in November. The share structure is there even with all of the preferred shares converted into LIQR stock: roughly 53 million. Considering the bail for Eiras was $2.25 million, they would have to move the shares a heck of a lot higher than .022 to cover all the legal expenses involved with the ATF’s assessment that the Company’s license is only for a specific room and not the entire warehouse.
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