Minerco Inc (MINE)

[einrad]

unfortunately I think it is going to take something a lot larger to move this. I don't know what the problem is. I personally will continue to buy when funds allow. I also think with Christmas not a lot of people are buying but maybe waiting for the new year.

I was also disappointed how the question below was danced around in the letter to the shareholders. Not one mention of planning on doing a share buyback this time and no reassurances of not doing a reverse split.

When it says "we believe the current share structure is sufficient to get us to the next step in our evolution." that leads me to believe that the notion of a share buyback is now off the table or not planned anymore or they may issue some of their current Authorized Shares to dilute more. All this IMO. I wish Mr. Vanis could be clearer and more reassuring. This statement seems like a step backward from planning on doing a share buyback to 'keeping' the current share structure. A little disappointing. Maybe I have misread it but that is my thoughts. IMO

I would love to see Mr. Vanis come out and say their will be a reduction in authorized shares or that in 2015 the company has authorized a buyback of xxx number of shares.


Q: Will the company need to increase the Authorized Shares and/or do a Reverse Split?

(This is the #1 question I have been asked most recently!)

A: The Convertible Promissory Notes that are past their maturity date have to be allowed to convert or an exchange has to be negotiated. The days of the company taking Convertible Notes for cash are behind us, as we have graduated to LOC(s) and more traditional financing; however, a small number of these older Notes still exist and are being dealt with in a responsible (long term growth) manner. Since we are not taking any new Convertible Notes and the existing, mature Notes are virtually paid off, we believe the current share structure is sufficient to get us to the next step in our evolution.