Minerco Inc (MINE)

[peafunke]

So this is another statement that shows they WILL have to increase the AS even more IF the price goes to .001. (Which I don't think it will go to). But at 0.0075. They need an additional billion ON TOP OF what they just announced in the AS increase. This sucks. You guys can sugar coat it all you want. Only thing thy can prevent this is stock price increase AND a very favorable outcome of the initial fizz and creamer sales.

"Since the debt does not convert at a fixed conversion price it is difficult for us to accurately quantify the number of shares that we will be required to issue upon such conversions. Using the June 20, 2014 numbers, if all of the Company’s outstanding debt, warrants and all of our preferred stock were to convert to common stock, we would be required to issue approximately an additional 1,100,000,000 shares, which would exceed the number of shares currently available for issuance (even when including the existing “reserves” for certain convertible notes). If the stock price were to drop to $0.001 per share, we would be required to issue approximately an additional 2,100,000,000 shares of our common stock to cover all of our current obligations."