Minerco Inc (MINE)

[KULiquidGold]

when I read that the company can not pay for the notes then this is a seriously problem

This statement you are concerned about is nothing new.

- Look at the bottom of this post with the same note in the last three fins.
- After the same note was included in the 12/22/14 filing, the PPS ran to over a penny.
- Also note that the aggregate principal amounts have declined from the 1st Q to the most recent one. 305k to 250k and 125k respectively. It appears to me that the down trend in these amounts means this will be kissing an aggregate amount of around zero by October 2015!



There was less than 1/2 the number of stores in the locator back on 12/22 when the same note was published in the 1st quarter Q results. The store locator count is now more than double that of what was listed when that Q was filed. That's not counting the UK yet. This chart is old and is just to show the number of stores back in December for illustration. The latest count from the locator was 1,859 stores.



6/22/2015
As of April 30, 2015, our obligations under outstanding notes totaled an aggregate principal amount of $125,000. Of such amount $125,000 is due October 22, 2015. We currently do not have sufficient funds to fund all of the future notes. http://www.sec.gov/Archives/edgar/data/1451514/000145151415000023/a10-q.htm


3/23/2015
As of January 31, 2015, our obligations under outstanding notes totaled an aggregate principal amount of $250,000. Of such amount $250,000 is due October 22, 2015. We currently do not have sufficient funds to all of the future notes. http://www.sec.gov/Archives/edgar/data/1451514/000135448815001281/mine_10q.htm


12/22/2014
As of October 31, 2014, our obligations under outstanding notes totaled an aggregate principal amount of $305,389. Of such amount $35,750 is due on demand, $123,500 is due March 31, 2015 and $250,000 is due October 24, 2015. We currently do not have sufficient funds to all of the past due or future notes. http://www.sec.gov/Archives/edgar/data/1451514/000135448814006256/mine_10q.htm