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Maybe we want to expose Vanis for the crook he is so no one else will fall for his tactics.
Celebrity endorsement Bernie Madoff
Vanis has lied and been doing it to stockholders for years. You can not believe a word he says.
R/S then increase the outstanding shares and dilute again. The only way Vanis and Messina know how to keep this company alive. No game changer coming.
Vanis is using the same playbook as BBDA. Look at where it got them.
I think the best thing that could happen to this company would be a change in management.
I can't answer that maybe Vanis is lying again. The only thing I know is that Avanzar only shows to own 1 truck based on what they have filed with California Department of Transportation.
He's taking back his company. Paying in preferred for mismanagement. Longs will not have anything left.
Burn rate just for management salaries is $30K per month. High price to pay for management that do not have a clue what they are doing.
SO the 10Q is incorrect. Whatelse is incorrect in the 10Q.
Got it. You are correct They need to correct the 10Q to reflect.
Avanzar DOT records show they only have 1 truck and driver. I don't think 1 truck is going to get Minerco very far. IT appears all they are is a warehouse. From the last 8-K Minerco paid $500K for a company that had a net value of over a $1 mill plus negative. Was that really a good purchase? One truck and a $1m in the hole.
JD Foods has distribution rights in UK.
I don't think adding more skews to what Minerco already has will add any value. They need to put more time in getting national distribution with what they have than expanding with another product. Dumping more money in another product would drain more cash and slow down a national roll out.
That would be great but the latest 10Q only states North America distribution.
Item 16 of 10Q
http://ih.advfn.com/p.php?pid=nmona&article=67400542
Brand Licensing Agreements
VITAMINFIZZ ®
On November 21, 2013, through its subsidiary, Level 5, the Company entered into an Agreement with VITAMINFIZZ, L.P (“Licensor”), a California Limited Partnership where Level 5 acquired the exclusive rights in North America to use VitaminFIZZ® on and in connection with the marketing, distribution and sale of the Brand. Level 5 agreed to pay a licensing fee of $250,000 and no royalties shall be made to Licensor until such time as the aggregate royalty payments earned by Licensor exceed $250,000. Licensor retained a 49% equity interest in all net profit. A milestone payment of $1,000,000 is due to Licensor when net sales exceed $25,000,000.
If you can dig deeper and show me the link where Minerco has a "Worldwide" agreement I would appreciate the link.
There is nothing in writing showing we have "Worldwide Distribution agreement". 10Q states only North America distribution. Product sent to UK was for Power Brands benefit where Ezra has his contacts. Minerco will foot the cost.
This was in the 10Q
On November 21, 2013, through its subsidiary, Level 5, the Company entered into an Agreement with VITAMINFIZZ, L.P, a California Limited Partnership where the Company acquired the exclusive rights in North America to use VitaminFIZZ® on and in connection with the marketing, distribution and sale of the Brand.
Minerco only has the rights to Vitamin Fizz in North America. Not sure why they shipped to the UK unless Ezra is wanting to sale the licensing to someone else over there.
Scott has not put any money in Minerco. He doesn't have any money. His Houston home was foreclosed on in June 2010 and he couldn't find a job so he started the Minerco scam. Most OTX CEO's have salaries around $60K and it is there full time job. Vanis closed the Houston office without letting anyone know. He is a crook. Do some DD on him.
As of April 30, 2015, the Company owes its current Chief Executive Officer $182,661 ($13,911 – pre-merger July 31, 2014) in accrued salary ($18,750 per month) and $181,044 ($3,178 – pre-merger July 31, 2014) for advances made to the Company. The Company owes its current Chief Financial Officer $15,000 ($2,500 – pre-merger July 31, 2014) in accrued salary ($12,500 per month. The advances are due on demand and non interest bearing. Avanzar has no monies owed related parties as of April 30, 2015 or July 31, 2014.
Outrageous management is allowed to get paid this much.
If that was all true why is Vanis giving himself preferred stock?
If it grows he will have money because he is issuing himself preferred stock. All common stockholders will have nothing. Look at it. He is setting it up to own the entire compay by himself.
Straight from the 10Q. Under item 14. Vanis took care of himself.
Anti-Dilution
The Series B Shares are entitled to weighted average anti-dilution protection under certain circumstances specified in the Certificate of Designations.
Do you have proof he ever had interest in Honduras? He started this company the same time he was getting his house foreclose on in Houston. He is not building a business he is scamming investors. Do some research on him.
Just exposing Vanis as the crook he is. I don't want to see anyone else get suckered in by his lies. Did he ever own interest in Honduras. Probably not.
http://www.centralamericadata.com/en/article/home/Honduran_Authorities_Dont_Know_Who_Minerco_Resources_Is
Vanis will not get any financial partners by doing a r/s. He is doing to so he can authorize more shares and dilute. That is the only way he can raise money to pay his $224,000 salary. Notice he gets paid in preferred shares so when Minerco files for bankruptcy he will have a little protection.
Sales are falling. The company does not have the money for inventory to take on a big account like Costco or Sam's. Management is sucking this company dry.
Vanis said in the conference call "we are taking the company back" We meaning himself and Darin. Breadcrumbs......
Shares returned to treasury will be Vanis's 57M common stock for preferred B stock.
This company will have a tough time uplisting with the current salaries the management are getting. $30K per month is excessive for the quality of current management in place.
I believe Vanis had his house in Houston foreclosed on in 2010. Now he is bankrupting the company.
No law firm will take this case. Minerco has no money and the chances they will get paid are nil.
That is Eric Cosuins old address. Old address that is vacant also.
There is no office. They closed it and moved out without notifying anyone.
Minerco closed the office in Houston and has gone into hiding.
Mr. Vanis will be paid a salary of $225,000 per annum beginning on July 9, 2014.
Mr. Messina will be paid a salary of $150,000 per annum beginning on July 1, 2014.
Can the company afford $31,250 per month for these two clowns???? They have down nothing but taken advantage of common shareholders.
Payment will be used to pay Scott and Sam's accrued salaries.
Its all public record. V Scott Vanis is your CEO.
Minerco closed Houston office. New tenant at their old address
NRG Talent Recruiting Company
800 Bering Drive Suite 201, Houston, TX 77057
Dan Ginsberg, Gary Smith and Peter Straham do not have any ownership and are not associated with Vitamin Fizz. Names were dropped to scam investors. No documentation proving they are involved except a flow chart.