Minerco Inc (MINE)

[DCALongRun]

Remember the corporation can't comment too much on ongoing litigation due to sec rules. It is interesting that jmj is in Florida, one of the states with a lot of penny stock fraud. Go back and look at history and posts between August of 2014 to Dec 2014. You might be able to figure out something and connect the dots. This stock and company have been attacked on many fronts. It is amazing the strength of the this stock. Look at the other penny stocks that rallied and went back to 3 zeros in Jan 2015. The highest they were able to get was .05. That's why people like me did not buy the store and purchased at .003. Something else you have to keep in context was the fact that the broader markets were selling off bigtime in Jan 2015. It is amazing that this stock has held up.

Part about litigation

see in sec report

"On April 15, 2014, the Company filed a complaint and sued JMJ Financial (“JMJ”) relating to an alleged illegal conversion pursuant to a Promissory Note dated November 19, 2013 (the “Note”) in the Circuit Court of 11th Judicial Circuit in and for Miami-Dade County. The suit alleges that the Note violates Florida’s usury laws and is, therefore, unenforceable. Minerco sought (a) a declaratory judgment that the Note is null and void ab initio, and (b) preliminary and permanent injunctive relief prohibiting JMJ from converting any purported amounts owed pursuant to the Note into shares of Minerco’s common stock. In May 2014, the injunctive relief bond was set at $2,500,000, cash, which Minerco did not satisfy. Therefore, Minerco did not receive injunctive relief from the court at that time. On June 24, 2014, JMJ filed its Answer and Affirmative Defenses, in which it denied that the Note is usurious, and set forth multiple affirmative defenses, including failure to state a claim upon which relief can be granted and estoppel. On December 12, 2014, Minerco filed a Motion for Leave to File Amended Complaint (the “Motion”) against JMJ Financial relating to the same Note, seeking in its amended complaint the following relief: (a) a declaratory judgment that the Note violates Florida’s usury laws, and thus is null and void ab initio; (b) damages for JMJ’s conversions of the entire purported outstanding balance of the Note that have occurred subsequent to the commencement of the lawsuit; and (c) reasonable attorney’s fees and costs. The Motion has not yet been decided. Discovery is ongoing."