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Historically this stock has failed. Its changed product directions too many times. It will continue to fall unless the prove incoming revenue.
Vanis has sold the company.
THIS ASSET PURCHASE AGREEMENT (the “Agreement”) is entered into and effective this 15th day of July, 2016 (“Effective Date”), by and among Minerco, Inc., a Nevada corporation, which is publicly traded on the Over-The -Counter Bulletin Board (OCTBB: MINE), and through its subsidiary, Athena Brands, Inc., a Nevada corporation, hereinafter referred to as the “Seller,” and Pacific Isle, Ltd., a Corporation formed and operated under the laws of Hong Kong, hereinafter referred to as the “Buyer”, (hereinafter sometimes referred to collectively as the “Parties”).
WHEREAS, as of the Effective Date, Seller owns One Hundred Percent (100%) of its subsidiary, Athena Brands, Inc., and Athena Brands, Inc. owns the controlling interest of Avanzar Sales & Distribution, LLC; and
WHEREAS, Seller desires to sell Buyer, and Buyer desires to purchase from Seller, One Hundred percent (100%) of all of the Seller’s rights, title and interest in and to Seller’s subsidiary, Athena Brands, Inc., formerly Level 5 Beverage, Inc. (“Athena”), including all Seller’s right, title and interest to Avanzar Sales & Distribution, LLC (“Avanzar”), more specifically defined in Schedule 2.0 attached hereto and incorporated herein by reference (hereinafter sometimes referred to as the “Asset”) for the consideration and upon the terms and subject to the conditions hereinafter set forth; and
WHEREAS, the Parties agree the specific brands of VitaminFIZZ and The Herbal Collection, and all associated intellectual property attached thereto, are excluded from this Agreement.
Its called dilution. Vanis needs to raise as much money as he can before the 10Q.
Come on you can't be that naive. Halting your revenue to get rid of toxic debt or positioning for bankruptcy to wipe out common shareholders and debt and leaving preferred stock holders to negotiate a way to keep the company as their own.
It is a big problem. Vanis has never been this late on filings. Major red flags.
Sub-penny again. Delinquent filings. Avanzar sales dropping. More cash going out than coming in. This is not a pretty picture
Seriously. He stated he was going to do that 2 years ago and continues to do a shoddy job. Very poor management decisions has this company heading for bankruptcy. He has control of nothing.
Just smoke. Powerbrand and Redbull do not want back it. Just a pump to dilute at a higher price
Your forget the stock is down 72% year to date and that Avanzar can't produce enough revenue to cover expenses and debt. There is a reason the phantom financial partners are not wanting to get in any deeper.
Financial partners are raising their eyebrows on the current position of the company. I see this as just another attempt for Vanis to try and get new investors interested and the hopes up for bag holders. Vanis has limited options and is forced more dilution. Today will end "RED"
Sub-Penny again!
There has been no update on share structure since 4/1/16. Wonder why they are holding off reporting it?
PR out! Major red day coming.
So you're saying Vanis just copies and pastes? Fact is he doesn't pay his bills.
During the six months ended January 31, 2016, the Company has an accumulated deficit of $31,140,648, net loss of $2,843,703 and revenue of $516,534. The continuation of the Company as a going concern is dependent upon the Company's continued financial support from its shareholders
Yo Gabba Gabba is not a workhouse its not even a miniature pony. It is a failing brand that will suck more expenses just like Avanzar.
But you do have an opportunity loss.
Opportunity Loss Definition
•The most highly valued use of resources (cf. the most highly valued alternative use). It is used especially in the context of decision-making under uncertainty, when the value attributed to obtaining additional information depends on the opportunities thereby created. It is the cost of not selecting the most highly valued use.
Show me where it is tightening. More numbers on dilution will show up next week.
Float 57,228,004 a/o Apr 01, 2016
Vanis gave himself all those titles. No one would ever hire him as an executive.
Article is a joke. A person with any kind of brain can see MINE did not increase 8275% since September 21, 2015. Linda Rogers did not research the stock.
Walmart has there own brand of sparkling water called "Clear American". I doubt they would want bring on cockroach like Vitamin Fizz.
Bottom line is they are losing a lot of money.
The future is bright.....well at least for Vanis. Within the next year Vanis will privately purchase/spinoff Athena to pay a few past due bills and put MINE in bankruptcy. Vanis gets the gold mine shareholders get the shaft.
And how many awards have they won? ZERO
So I am right. Sales have fallen off.
2015 Revenues $2,450,000
Last 6 months ending Jan 31, 2016 $516,534
First 6 months ending July 31, 2015 $1,933,466
Huge!!!!!!!!!!! 76% decline in sales.
The last 6 months sales have fallen off shapely. You do know Avanzar is like a vending machine route. They are not a large distributor.
Avanzar sales during the six months ended January 31, 2016, were $516,534, Net Loss from Operations $1,661,945. Avanzar is losing a lot of money.
I'm willing to bet Vanis is receiving compensation through Athena Brands or Avanzar. Since we don't see the details of their financials it could be hid in there.
Just wait until the next update o/s will be close to 100M. Mark me.
Lower highs and lower lows
It will never show up in their home towns. Vitamin Fizz and Kid 50 Yo Gabba Gabba are cockroaches on the shelf compared to the others that control this market. MINE does not the cash to go anywhere. Only money coming in is from dilution of shareholders equity and its paying the black hole of debt that Avanzar has created.
Just think where we would be if he knew anything about the beverage industry except trial and error.
Nowhere in Vanis resume does it show he has any experience in the beverage industry or qualifications to manage a company. It looks like a lot of part time jobs.
June 2000 through June 2001 he worked for BJ Services, Inc. as a Field Petroleum Engineer.
June 2001 to June 2003, Mr. Vanis was a Staff Petroleum Engineer with Pinnacle Technologies, Inc
June 2003 to the present Mr. Vanis has served as President of VSV Resources, LLC (His own startup)
May 2007 to July 2014, Mr. Vanis served as President of TC Energy International, S.A.
V. Scott Vanis has held the position of Chairman since March 2010. He has also served as Chief Executive Officer from March 2010 - September, 2012, and July 2014 - present.
Vitamin Fizz was not manufactured from July 31, 2015 through Jan 31, 2016. It's in the 10Q.
Look at the 10Q. It's all in there.
Avanzar is costing MINE $400k per month. Vanis good throwing money at a dying distribution company
At the current dilution rate of 20M per month we will be fully diluted by November 2016 and ready for another r/s so more share can be authorized by the end of the year.
News of a new CEO that actually knows something about the beverage industry and managing a business might help. Vanis is an absentee CEO and has no idea how to manage a company to profitability. His game is dilution.