Minerco Inc (MINE)

[wallas2g1]

I agree with you on one point only which is that I'd prefer they stick with one project but that doesn't seem to be their business plan and Vanis alluded to this at the conference call.

As far as the A/s increase, I was shocked it was by 1 billion but it was all in the 8-K so it makes sense IMO.

There are 2 million Series B shares. The company is obligated to have enough common shares to cater for conversion of series B if and when that happens. The initial conversion price per the 8-K is 0.02.

Each series B share converts into $10 divided by 0.02 = 500 common shares.

2 million x 500 = 1 billion.

The good thing about the series B shares is that they are held by what appears to be friendly holders so it's not like company has to worry about a note coming due at a specified time.

All IMO