Minerco Inc (fka MINE)

[livinginstyle]

The board of directors believes that authorizing this increase in the number of authorized shares of common stock is in the best interest of Minerco and its stockholders in that it could be obligated to issue common stock upon conversion of certain existing outstanding convertible debt and preferred stock in excess of the amount authorized and it will provide the Company with available shares that could be issued for various corporate purposes which may be identified in the future, including acquisitions, stock dividends, stock splits, stock options, convertible debt and equity financings. On April 5, 2013, Minerco had 1,988,862 shares of common stock available for issuance after taking into account all shares reserved of convertible securities which we believe may not be sufficient to satisfy all outstanding debt obligations

Boy, if that isn't proof of what I have been saying, then no proof exists. They are and will continue to dilute. I like this part which is called toxic financing; the number of authorized shares of common stock is in the best interest of Minerco and its stockholders in that it could be obligated to issue common stock upon conversion of certain existing outstanding convertible debt

Anyone buying this will lose big going forward.