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  "documentTitle": "New Age Beverage Corp. (NBEV)",
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  "authorName": "Grizzly Reports",
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  "presentationDate": "2019-06-27 00:00:00",
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  "notes": "Includes a table of debt obligations and narrative critique of financial reporting and auditor quality.",
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      "text": "Investors beware! In our experience, liabilities tend to almost always be real, but not the assets.",
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      "text": "Debt Obligation: $52,053",
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      "text": "It has been repeatedly noted that issues relating to information access remain a key hurdle for outside investors in China. Top 10 auditors... continue to be duped by Chinese companies.",
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      "text": "The $25m payment due upon a financing event is noteworthy. NBEV notes that: 'The Company believes it is probable that this event will occur in the second quarter of 2019.' We view this as a lack of transparency...",
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      "text": "Remember that the biggest portion (about half) of Morinda's cash is supposedly sitting in China, and we have previously laid out why we believe Morinda's China financials are not to be trusted.",
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      "text": "You might be wondering who signed off on all these fake financials. Utah based Deloitte & Touche LLP verified the financial statements of Morinda, Inc. and NBEV’s auditor has been Accell Audit & Compliance, P.A. since 2016.",
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      "text": "Accell Audit & Compliance is a small Florida based firm with only 8 clients. Their PCOAB report outlines significant deficiencies...",
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      "text": "Another shady aspect that increases profits to Morinda insiders is an old Executive Compensation plan. This unfunded plan was established by Morinda in 2009...",
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      "text": "The Company believes it is probable that this event will occur in the second quarter of 2019. — NBEV",
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      "text": "Are Auditors just bad or Complicit?",
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