The price per share is brutal, and I think Scott Vanis finally realized that releasing PRs about small achievements no longer serves the company. Informing shareholders has done nothing but blow up in his face, and if he says one thing and it is slightly different from what happens, the penny stock shareholders are all over him, because most are investing beginners.
Minerco is a long way off, they are executing, but it will take many quarters of execution and revenues to gain any real investor interest. The new money has dried up long ago now, and we most likely will never see the MJ bubble inflate like many of us saw in Jan-March 2014, and even though Minerco was never and hopefully never is a 'pot stock' it got caught up in that hype.
That Men's Journal article with The Wolf and Tim Sykes ripping him apart was pretty interesting. Maybe there is something to what Syke's was saying: (In reference to penny stocks)
'The financials don't mean anything, they can and are manipulated.'
'They are all pump and dumps, and they all deserve to go to zero.'
If you read the financials last Q hopefully you understand the position the company is in, they need money, and a lot of it. I am not sure where it is going to come from, but if they don't pull a miracle out of their hat this year I worry they can't go on.
I honestly thought that there would be a lot more in the works for this summer, in terms of advertising, expansion, and so on. Maybe there is and Vanis isn't saying much, but seems like there are boots on the ground in California and they haven't reported seeing anything yet.
Is Vanis trust worthy? At this point I DO NOT believe in him as I once did, but I am willing to let him prove himself and his abilities. I have been in MINE for two years now, my investment is down 70% so I have ZERO reason to sell.
I wouldn't be surprised if he used a 'rat hole' during the March 2014 run and bought shares at .016 (or what ever) as an illusion. If you have seen The Wolf of Wall Street movie you will know what a 'rat hole' is. I can't escape that thought.
The bottles for the Game Changing account we saw leave production a month ago now, so part of me questions the validity of what Vanis says. Vitamin Creamer and the other brands, we simply do not have the money to produce those. I will say again, if you read the Q you will know Minerco needs money, roughly 5 million dollars to further operations.
Does VitaminFizz taste good, yes, it is awesome. Is the market saturated, yes, beyond belief. In Chicago there are at least 5-6 different sparkling waters to chose between, and the Box Stores are beginning to create their own in house brands too. For example Walgreens has the 'Nice' brand sparkling water.
I am only writing this article to be realistic and honest. This is going to take a while, a long while.. Bottom line, the company needs money, fingers crossed that we are selling in California, and that Scott Vanis goes beyond what a typical penny stock CEO can do.
I will go down with the ship. I never put my life savings into this stock, and my money was gone a long time ago. Just going to wait and see.
May the force be with us all.
