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Replies to post #231948 on Minerco Inc (fka MINE)
03/22/15 2:22 PM
450,000 a month. So they are saying we will make 5.4 million just from Avanzar? Then we do people think we will only make a million? When did we start pulling in revs from AVNZ?
FY 2015, Q1. Due to our recent Acquisition of Avanzar, we now fall under the predecessor definition under Regulation C, Rule 405 of the Securities Act of 1933. The simple explanation is: At the date of the acquisition, Avanzar’s operations were substantially larger than Minerco’s operations; therefore, in our quarterly and annual reports, we will be reporting Avanzar’s historical data (pre-acquisition) and the combined entity (Minerco – Level 5 with Avanzar) post-acquisition going forward. The transaction was classified as an acquisition or merger and not a reverse merger because Minerco was and is an / the operating company; and therefore, the transaction was not accounted for as a reverse merger. Our auditors made the determination according to Regulation C, Rule 405 of the Securities Act of 1933. The full and complete two-year audit of Avanzar will be available next month. http://www.minercoresources.com/news.php?p=103
The 30% equity stake of Avanzar (with two Options to acquire more equity) is important to the long term bottom line revenues of Minerco; however, the short term benefits immediately materialize in the 51% voting interest of Avanzar. By controlling Avanzar, Minerco (through Level 5) is able to consolidate (report) all top line Avanzar revenues to Minerco’s financials (including our Cash Flow statement). Avanzar is projected to do over $5,000,000 in gross, top line revenue in FY 2015 (all of this $5,000,000 will be reported as Minerco revenue). Additionally, the Avanzar acquisition allows us “2 bites at the apple” for every one of our products we sell through Avanzar in Southern California and in any territory to which Avanzar expands. http://www.minercoresources.com/news.php?p=99
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