Minerco Inc (MINE)

[balamidas]

Minerco Achieves a Zero Balance on All Mature Convertible Notes

Minerco Resources, Inc. 3 minutes ago GlobeNewswire

HOUSTON, Jan. 8, 2015 (GLOBE NEWSWIRE) -- Minerco Resources, Inc. (MINE), announces today that as of this week, the company has completely satisfied its obligations under all existing, mature Convertible Promissory Notes. All mature Minerco convertible notes have a zero balance as the company completes the transition to more traditional, non-dilutive financing.

V. Scott Vanis commented, "After years of heavily discounted convertible notes from less than friendly lenders, we finally turned the corner in 2014. Now, we start 2015 with a zero balance on mature convertible notes. With our explosive product lines, our world class management and now, our non-toxic balance sheet, we believe our company will explode and evolve into a monster in 2015!"

Minerco also reports their Chief Executive Officer, V. Scott Vanis, and Chief Financial Officer, Sam J. Messina III, exchanged all of their Class B Preferred Stock for non-interest bearing (no dividend) Class C Preferred Stock. The transactions were an even monetary exchange; however, the Class C Preferred Stock holders are not entitled to any dividends.

"Neither Sam nor I believe our shareholders should be responsible for paying us a dividend. To correct this oversight, we have forgiven all accrued interest earned under our Class B Preferred Stock in the exchange to Class C. The zero balance of mature convertible notes, our switch from Class B to Class C Stock and many more upcoming events have and will continue to evidence the company's commitment to our loyal shareholders," stated V. Scott Vanis.

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About Minerco Resources, Inc.

Minerco Resources, Inc. (MINE), is the parent company of Level 5 Beverage Company, Inc. (Level 5), a specialty beverage company which develops, produces, markets and distributes a diversified portfolio of forward-thinking, good-for-you consumer brands. The Level 5 brand umbrella includes: VitaminFIZZ(R), Vitamin Creamer(R), Coffee Boost(TM), The Herbal Collection(TM) and LEVEL 5(R). http://minercoresources.com.




http://finance.yahoo.com/news/minerco-achieves-zero-balance-mature-141500110.html