Minerco Inc (fka MINE)

[davecase]

Minerco, Inc.
Consolidated Balance Sheets
(unaudited)



January 31, July 31,
2016 2015
ASSETS
Cash $ 345 $ 7,258

Accounts Receivable, Net 148,197 128,029

Inventory 187,875 304,746

Prepaid Expenses 4,896 5,896

Notes Receivable, Current — 117,196

Current Assets 341,313 563,125

Other Assets

Property and Equipment, net 100,700 112,360

Prepaid Expenses, Noncurrent — 250,000

Goodwill 607,891 607,891

Customer Relationships, net 144,198 148,077

Intangible Assets, net 380,417 98,048

Total Assets $ 1,574,519 1,779,501

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities

Accounts payable and accrued liabilities $ 2,788,836 $ 2,460,186

Note Payable, net of unamortized discount $18,360 and $0 149,970 149,970

Accounts Payable – Related Party 509,677 453,705

Convertible debt, net unamortized discount $790,458 and $204,036 133,989 89,690

Capital Lease Obligations, Current 5,169 22,080

Line of Credit 89,707 12,660

Derivative liabilities 1,300,242 352,587

Short term Debt 1,990,308 2,175,000

Total Current Liabilities 6,967,898 5,715,878

Capital Lease Obligations, Noncurrent — 1,758

Total Liabilities 6,967,898 5,717,636