Minerco Inc (fka MINE)

[ds_25]

Securing the loan:

Security. As security for the Line of Credit, immediately upon the first Advance made by Lender to Company, Company shall cause and/or direct Preferred Class “C” Shares of Minerco Resources, Inc. (“MINE”) to be issued to Lender. The amount of shares shall be sufficient to provide adequate security to the Lender for any Advances made to Company, and shall be reasonably determined by the parties at a later date. Company shall contact its transfer agent Island Stock Transfer to initiate this issuance, with all proper corporate approvals.

Post Oak, LLC is securing the loan with class C shares because they are usually assigned/ designated as capital, which makes 'sense' since they are are using them for collateral/security.

The no filing... whatever. This is all just a typical business transaction.