Minerco Inc (fka MINE)

[retiredanalyst]

MINE's Quarterly Report cracks me up. Revenues for the quarter were $5147 but the cost of goods sold was $13,422.

So, how does this model make sense? It doesn't.

In addition MINE reported total assets valued at $85,154. Now, with 2,117,140,128 shares outstanding X a PPS of .0123/share, MINE has a current market valuation of $26,040,823.

Hard to believe that people value $85,154 worth of total assets at $26,040,823 dollars.

Divide MINE's market valuation of $26,040,823 by it's total assets of $85,154 and you arrive at 305.......or in other words, if you pay .0123/share for MINE, you're paying 305X it's total asset value.

That's like paying $305 dollars for $1 dollars worth of assets. How does this make sense? Again it doesn't. IMO, even an idiot wouldn't pay $305 dollars for $1 dollar.