Minerco Inc (fka MINE)

[peafunke]

Are you referring to the 8% interest and convertible to 50% average value of the preceding 20 day price?

My point was not about him diluting by converting HIS shares , it was the fact that he has so much more protected value ( anti dilution protected) in his class a and b shares. So he may be buying class c as a separate action but there are barely any ill effects from him increasing the OS and paying for operations through c shares.

Also it shows as of last falls 10k that the convertibles are in default. Not sure where that stands but I'm assuming they can go on the market converted should the lenders care to take their money. (Under outstanding notes page 43)


Lastly he's making 8% interest in his half million he invested. The money is protected since he gets preferred payout of assets should the company fail. A and b get paid first during bust.

Again. I'm not saying he is selling HIS shares or converting them. But they have far greater value than the ones you or I can buy.