Minerco Inc (MINE)

[Sooah]

MINE will move this month. There is that one derivative liability in the books which you brought up earlier (2 notes that equal $200K). That note has different terms and cannot be converted for less than 51% of the Company which triggers change of control. Those shares are on reserve in case the note holder decides to take majority control in the event of default by the Company. This type of note is set up to give adequate assurance to the holder that they will get their money back or control of the Company in lieu, hence the 51% rule. This type of note rarely ever converts as outlined in the agreement so they should really be considered provisional more than anything.

I will note here that the Company recorded a profit in the last 10Q because of these derivative liabilities as they are inversely indexed to the price of MINE's commons. We should expect these derivatives to be 100% written down in the near future. They have successfully written down about 60% of the derivative liabilities qtr to qtr which is an amazing achievement. I will comment more on this later when I have more posts.

We are focusing on Asher notes because we all know they lean and short to make a killing on these conversions. Luckily for us, the lesser of 35% or 50% XYZ and 001 is 001 because 2011 share prices were considerably higher. We also know that once Asher is done hoarding shares, the stock runs like Forest.

:)

Last post of the day. Have a good evening all. Good things coming to MINE soon.