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  "documentTitle": "New Age Beverage Corp. (NBEV)",
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  "presentationDate": "2019-06-27 00:00:00",
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      "text": "1. Does the company have the licenses as an MLM business to operate in the China provinces in which it sells its products? 2. Are Morinda's financials that were disclosed to NBEV and shareholders in SEC filings accurate?",
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      "text": "Regarding its China business, we found that Morinda is operating illegally in 60% of the provinces it is running its business in.",
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      "text": "While it appears on paper that NBEV executed a \"too good to be true\" deal... we found that Morinda's European operations are in the process of being wound down...",
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      "text": "Furthermore, while during a conference call, NBEV's CEO boasts about $46 million in cash... he failed to comment that over $50 million in contractional obligations are owed to Morinda shareholders.",
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      "text": "In early 2019, China regulators forced Natural Health Trends Corp. (NASDAQ: NHTC) to suspend its operations in China... Shares fell as much as 32% on the day the story aired and are now down around 60%.",
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      "text": "Inadequate Licenses",
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