MineralRite Corp (RITE)

[UserAlias1]

I-said 86M... The 8/19 10Q says-they-ONLY-HAVE $397 CASH, compared to $128,096 for the same period last year...

AND-

For the six month ended June 30, 2014, the Company had a net loss from continuing operations of $2,101,421 and accumulated deficit of $11,897,126. The Company has funded its operations through the private sale of its common shares and issuance of convertible debt. Net revenue generated from operations is not sufficient to pay Company debts currently due or to fund future operations. The Company continues to raise additional funds; however

,

AND-

At June 30, 2014, the Company did not have sufficient authorized shares in reserve to meet the number of shares that would be issued upon the complete conversion its convertible debt. The Company recognized a liability of $356,699 on the share deficiency

They just today reported dilution from the two months ending June 9th, of 86,190,000 shares for $85,796.65, or about .001/share average.
NOW at .0003/share and with a $356,699 (liability on the Company’s shortage of its remaining common shares authorized for issuance compared to the number of shares required for full conversion if its convertible debt) still to convert (not counting any new convertible debt notes issued after June 30, 2014) would equal 1,188,996,667 shares issued at ZERO discount to the .0003 share price...

For the six months ended June 30, 2014

During the six months period ended June 30, 2014, the Company issued 204,787,263 shares of its common shares to various note holders on the conversion of $340,149 of indebtedness. The Company recognized a $248,961 loss on the debt extinguishment.

During the six months ended June 30, 2014, the Company issued a total of 13,620,000 shares of its common stock in consideration for consulting and professional services valued at $83,384.

So LOTS more conversions coming for $RITE
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10162899