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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": "In short, we believe NBEV got duped by buying a dying business with inflated financials.",
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      "text": "In December 2018, New Age Beverage (NASDAQ:NBEV) competed its merger with multi-level firm (MLM), Morinda... NBEV Paid Morinda $75 million in cash and $10 million in stock... While Morinda reported 2016 revenue from China of $68m in 2016, SAIC filings show that real revenue of Morinda was only $33m in that year! Financial filings from China also show that Morinda had a big net loss of $32m in 2017 from its China operations. National filings show that Morinda’s European operations gave up their headquarters in 2017 and was in the process of winding down the company. NBEV’s CEO boosts that $46 million in cash came along with Morinda. However, we don’t believe investors clearly understand that over $50 million will have to be paid out to Morinda shareholders. In short, we believe NBEV got duped by buying a dying business with inflated financials. We believe that Morinda’s China business is in jeopardy of being totally shut down...",
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      "text": "Company: New Age Beverage Corp. Ticker: NBEV Industry: Beverages – Soft Drinks Exchange: NASDAQ Price (as of June 26th 2019): $4.56 Shares Outstanding: 75.2m Daily Volume: 5,136,000 Projected Downside: 60%",
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