Well this is what I've gleamed over time, feel free to correct any misconceptions.
The Morales is one of many Mosrite inspired Guitars produced in the mid to late 1960s. Japan was crazy about the Ventures during the 60's and just about all the guitar makers of the time in Japan produced a Mosrite "inspired" guitar model. As time went on, several of the makers started to produce "clones" that actually used the mosrite name and Ventures logo. Most of us have heard about the lawsuit era of Japanese guitars. They started putting out clones that many felt was as good or better than what was made in the US at the time. Many great Fender, Gibson and Mosrite copies came out during that period.
The Morales predates the Lawsuit era, and is more of a Mosrite "inspired" Guitar. I believe the Firstman guitars were the first to go beyond the "mosrite inspired" stage and build a more exact replica of the Mosrite Ventures guitar. They used "Mosrite" on the headstock and on the pickup covers. (they even had the "moseley" on the trem). Firstman was started by former employees of TEISCO after Teisco was absorbed by Kawai. They produced what is thought to be the first Japanese "clone" of the Ventures style Mosrite. It was still easy to distinguish the clone from the real thing, but to the buying public in Japan it was close enough. I don't believe Firstman lasted very long, and Mosrite Ventures models were later produced by Kurokomo and Fillmore. I've heard the Firstman mosrite clones were very good guitars, as are the Kurokomo and Fillmore versions. I've heard the Morales mosrite inspired guitars are neck heavy, but play fairly nice, but are not of the same level of quality as the Firstman, Kurokomo or Fillmore guitars.
Whenever I see a good Mosrite inspired Japanese guitar for sale, I'm tempted to buy. Some are much Higher Quality than others. As a matter of fact, I just pulled the trigger on a Guyatone LG 250, which is inspired by a combo of the Maphis model and Mark V.
http://www.ebay.com/itm/140649652784?ssPageName=STRK:MEWNX:IT&_trksid=p3984.m1497.l2649I've actually seen a Guyatone LG250T with "The Ventures Copy" on the headstock

Here's a list of some of the better quality Mosrite inspired Japanese guitars produced before the Firstman guitars.
Tokai Hummingbird
Guyatone LG 250T
Guyatone LG 150
Teisco Vamper
Lower quality copies:
Teisco and Silvertone(Sears) copies
Univox Hiflyer