move up mode?
Who the heck in their right mind is going to chase a stock that has a 1 for 100 R/S waiting in the wings?
NOTICE OF STOCKHOLDER ACTION BY WRITTEN CONSENT
To the Stockholders of Minerco Resources, Inc.:
This Information Statement is furnished to the stockholders of Minerco Resources, Inc., a Nevada corporation (“Minerco” or the “Corporation”), in connection with the Corporation’s prior receipt of approval by written consent, in lieu of a special meeting, of the holders of a majority of the Corporation’s voting power, including the holders of all of the Corporation’s outstanding Series A Convertible Preferred Stock (the “Series A Preferred Stock”), authorizing the Board of Directors of Minerco to: amend the Corporation’s Articles of Incorporation to (i) effect a 1-for-100 reverse stock split (the “Common Stock Split”) of the Corporation’s outstanding shares of common stock and a 1-for-100 reverse split of the Corporation’s outstanding shares of Series A Preferred Stock; (ii) decrease the number of authorized shares of the Corporation’s common stock from 3,500,000,000 to 250,000,000 and (iii) change the name of the Corporation to Minerco, Inc.; The amendments described in clauses (i) and (iii) above are hereinafter referred to collectively, as the “Amendments”).
On August 31, 2015, Minerco obtained the approval of the Amendments, by written consent of four stockholders that are the record owners of 57,740,001 shares of common stock, 15,000,000 shares of Series A Preferred Stock (which preferred stock is entitled to 1,500,000,000 votes and represents all of the outstanding shares of Series A Preferred Stock), 279,721 shares of Series B Preferred Stock (which preferred stock is entitled to 699,302,500 votes) and 615,495 shares of Series C Preferred Stock (which preferred stock is entitled to 3,077,455,000 votes), which represents approximately 52% of the voting power of Minerco as of August 31, 2015. The filing of the Amendments with the Nevada Secretary of State cannot be effectuated until twenty (20) days after the mailing of this Information Statement. The Amendments will become effective upon the determination of the Chief Executive Officer, in his discretion, at any time prior to December 31, 2015.
MINERCO IS NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED TO NOT SEND A PROXY. Because the written consent of the holders of a majority of our voting power, which includes all of the holders of the Corporation's outstanding Series A Preferred Stock, satisfies all applicable stockholder voting requirements, we are not asking for a proxy: please do not send us one.
Only stockholders of record at the close of business on August 31, 2015 (the “Record Date”) shall be given a copy of the Information Statement. The date on which this Information Statement will be sent to stockholders of the Corporation will be on or about September 10, 2015.
The accompanying information statement is for information purposes only. Please read it carefully.
By Order of the Board of Directors
/s/ V. Scott Vanis
V. Scott Vanis
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Was that a joke about the name change? Is Vanis keeping the MINERCO part so he can return to another mining scam when the beverage company goes under? How in the world does the name MINERCO reflect a beverage industry?
