Minerco Inc (fka MINE)

[shajandr]

CONVERTIBLE PROMISSORY NOTE
U.S. $56,000.00 Dated: February 1, 2013

FOR SERVICES RECEIVED, Minerco Resources Inc., a Nevada corporation (the “Maker”), hereby promises to pay to Braeden Storm Enterprises, Inc., a Florida corporation, or his successors and assigns (the “Payee”), at its address at 700 Bradley Street, West Palm Beach, Florida 33405, or to such other address as Payee shall provide in writing to the Maker for such purpose, a principal sum of Fifty-Six Thousand Dollars and Zero Cents (U.S. $56,000.00). The aggregate principal amount outstanding under this Note will be conclusively evidenced by the schedule annexed as Exhibit B hereto (the “Loan Schedule”), up to a maximum principal amount of U.S $56,000.00. The entire principal amount hereunder shall be due and payable on February 1, 2013 (the “Maturity Date”), or on such earlier date as such principal amount may earlier become due and payable pursuant to the terms hereof.

...
http://www.sec.gov/Archives/edgar/data/1451514/000135448813003538/mine_ex105.htm

MINERCO RESOURCES, INC.


By:
/s/ John Powers
Name: John Powers
Title: Chief Executive Officer


BRAEDEN STORM ENTERPRISES, INC.


By:
/s/ Eric Cousens
Name: Eric Cousens
Title: President

http://www.bizapedia.com/fl/BRAEDEN-STORM-ENTERPRISES-INC.html

Its now confirmed if you buy this stock you are directly financing Eric Cousens. FACT!

MERRIMACK - A local man is accused of twice raping a 15-year-old Amherst resident.

Eric K. Cousens, 43, of 222 Amherst Road, Merrimack, turned himself in to police just after 5:30 a.m. Wednesday on two counts of felonious sexual assault on a child under the age of 16, both class B felonies, and one count of endangering the welfare of a child under the age of 16, a class A misdemeanor.

Police opened an investigation April 2 after Amherst pollice forwarded the case to them because the alleged assaults took place in Merrimack.

On April 12, investigators searched Cousens' home, a single family farmhouse where he is a tenant.

In a news release, police did not indicate whether the teen was a girl or boy nor did they indicate if Cousens knows the teen. A message left for Detective Scott Park was not immediately returned.

Cousens was arraigned Wednesday morning in 9th Circuit Court, Merrimack District Division, and later posted $50,000 cash/surety bail. He is due back in court April 23 at 9:30 a.m. for a probable cause hearing.
http://www.unionleader.com/article/20130417/NEWS03/130419183


MINE/ASHER/MICHAEL GELMON/Eric Cousens
Quote:
3364(11) 5-14-13

This date seems to correspond with the date from the TA. Is that possible? A billion shares for $47,000?

Quote:
Name Allocated Remaining
----------------------------------------
10% CONV NOTE KODIAK CAPITAL 04-26-13. 100,000,000. 100,000,000
8% CONV NOTE ASHER ENTER 05-14-13. 1,000,000,000. 977,607,143
8% CONV NOTE LG CAPITAL FUNDING 05-30-13. 200,000,000. 200,000,000
Report Run On 6/12/2013 At 12:56pm By CATHERINE WILSON-island stock transfer


Quote:
As Chairman, Former President, CEO at MINERCO RESOURCES, INC., V. Scott Vanis made $964,666 in total compensation. Of this total $180,000 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $784,666 was awarded as stock and $0 came from other types of compensation. This information is according to proxy statements filed for the 2012 fiscal year.
Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. MINERCO RESOURCES, INC. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. MINERCO RESOURCES, INC. annual reports of executive compensation and pay are most commonly found in the Def 14a documents.

http://www1.salary.com/V-Scott-Vanis-Salary-Bonus-Stock-Options-for-MINERCO-RESOURCES-INC.html
This seems like a lot to me.
The toxic financing will kill this one!