Follow up e mail to CEO Scott Vanis.. (III)
Scott,
Like I said, I am very appreciative that you will take the time to respond to my e mails, and I think the MINErs for the most part appreciate it too, though it is a pretty divided camp as of the past few months. I would like to follow up to some of your answers:
1. I find it a little bit disconcerting that you are blaming the timing of the MINErs share purchases to the decline in pps without taking any responsibility for it too. Like I mentioned to you, I was writing 'positive' articles about your company in the early days, and I understand that since part of my career is professional journalism that readers might gravitate toward what I say. Earlier this year I started receiving e mails from people who followed my advice, and have since lost 97% of their investment, and I cannot help but feel partly responsible.
If you knew the valuations of Minerco were blown out of proportion, and you are using that as your excuse for the decline in share price, shouldn't you have issued a warning to your loyal shareholders about the over valuation?
From what I gather, most MINErs bought into MINE because of the things you said and mention in your PRs and what was said on the CC. Granted, Darin Ezra was responsible for a lot of the 'fairytales' mentioned on the CC, but many MINERs bought for these reasons:
a) How many times were the names Pepsi and Dr. Pepper Snapple used?
b) Darin mentioned many times that FIZZ would easily be in 10's of thousands of stores in a short time.
c) Celebrity endorsers
These are just a few things that stick out, and I would have to go back and listen to pinpoint even more misleading statements. Shouldn't you take some responsibility in all this?
2. I haven't studied the current 10K as much as I did the previous one, but anyone who takes the time to understand the Q's will know that Minerco is in negative cash flow and using shares to build the company. I know this dilution worries many of the first wave investors, and I am sure they would like an honest opinion from you on this subject.
3. If an uplist to a major exchange isn't too far away, how do you propose Minerco will achieve the $2-4 pps minimum requirement?
4. 30,000 cases of VitaminFIZZ were sold at roughly $7 (wholesale) = $210,000.00
a) it is a daunting number at just how much FIZZ needs to be sold in order to crack just $1,000,000.00 in revenue.
b) what is the profit margin on FIZZ?
5. Most MINErs like myself are roughly 85-98% down on our investments and realize it will be at least a 40 x's move (4,000%) just to break even. What are your thoughts on this?
6. An investor in MINE can't escape the feeling that you have thrown many misleading statements our way. We could dig through old PRs, but I will ask you about just one that many seem upset about. Please tell us what you meant when you said; "This year will pale in comparison?"
7. I think many MINERs are curious about what the Florida Spring Break was all about?
8. When can we expect tangible-concrete new on the 'Work Horse' brand?
I may have missed many things that I would like to say, or inquire about in this follow up e mail, but I also think there is enough here that we can start digging into some of the issues MINE investors are worried about. Like I mentioned before, you once had an army of loyal shareholders, but that number is dwindling fast. Many have lost faith, don't trust or believe you, and when you know you need a 40 bagger to break even on your investment, that just doesn't sit well with anyone.
Thank you again,
Brad Conroy
