Minerco Inc (MINE)

[DCALongRun]

Key statements in 10-Q, depending on shareholders
statement link

page 8
These financial statements have been prepared on a going concern basis, which implies the Company will continue to realize it assets and discharge its liabilities in the normal course of business. During the three month period ended January 31, 2015, the Company has an accumulated deficit and minimal revenue. The continuation of the Company as a going concern is dependent upon the continued financial support from its shareholders, the ability of the Company to obtain necessary equity financing to continue operations, and the attainment of profitable operations. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

The Company intends to fund operations through equity and debt financing arrangements, which may be insufficient to fund its capital expenditures, working capital and other cash requirements for the year ending July 31, 2015.

page 22:
a)
On February 9, 2015, the Company issued 250,000 common shares pursuant to a consulting agreement. .

b)
On February 27, 2015, the Company issued 132,000 Series B Preferred in exchange for $250,000 in principal under a line of credit. These shares were converted into 66,000,000 shares of common stock.