Replies to post #118598 on Minerco Inc (MINE)

[DugTown1]

UDAMAN SS

[BeauBeau]

I wonder how much of the remainder has been converted at this point??? LMAO!

On July 23, 2012, the Company entered into a Securities Purchase Agreement and Convertible Promissory Note between the Company
and its former Chief Executive Officer for $588,299. The convertible notes carry a 5% rate of interest and are convertible into common stock at a variable conversion price of 50% of the market price which shall be calculated as the lowest day during the preceding 5 days before conversion. During the six months ended January 14, 2014, the holder converted $15,000 of the convertible note into common shares. (see footnote 6) . As of January 31, 2014, the total amount outstanding is $543,999.

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9875369