Minerco Inc (MINE)

[peafunke]

I want to be wrong... But it's hard when I just cut and paste from their sec submission:

The board of directors believes that authorizing this increase in the number of authorized shares of common stock is in the best interest of Minerco and its stockholders in that it could be obligated to issue common stock upon conversion of certain existing outstanding convertible debt and preferred stock in excess of the amount authorized and it will provide the Company with available shares that could be issued for various corporate purposes which may be identified in the future, including acquisitions, stock dividends, stock splits, stock options, convertible debt and equity financings. On June 20, 2014, Minerco had 61,709,187 shares of common stock available for issuance after taking into account all shares reserved of convertible securities which we believe may not be sufficient to satisfy all outstanding debt obligations


They specifically state they do not have enough common shares to pay off their debt. And it also states this would take effect 20 days from the initial mailing. June 20. Not "years from now".

Not saying all this will be dumped on to the market now but the potential is there and they can do this in as little as 3 more days....

Of course all these shares can be used for other purposes but some of u dream and really downplay the possibility. The market has also responded.