Minerco Inc (fka MINE)

[bfavre40]

Provide a link? Please refer to the 10-K. I read the same thing about the swap for preferred and was confused by it as well. Because if you read page 16 of the 10-K you will see September and October were full of conversions from that July 23, 2012 note. I see they exchanged it for roughly 350K of series B. I know there was 500K on that note prior, so it appears 150K may have been converted sometime earlier in the year before the swap occurred. Then, once if was swapped for series B, John Powers started converting again. Only thing I could think of is the terms allowed him to convert those preferred series B whenever he wanted. He may have went into the deal thinking he would hold preferred, but changed his mind. Now that 350K is somewhere a little over 100K. Again, page 16 of the 10K. If anyone else has a better explanation I'm listening.