Replies to post #21236 on Minerco Inc (fka MINE)

[woody85]

Almost impossible to know. Not to mention the former CFO's convertibles....
On July 23, 2012, the Company entered into a Securities Purchase Agreement and Convertible Promissory Note between the Company and its former Chief Financial Officer for $267,998. The convertible note carries an 5% rate of interest and is convertible into common stock at a variable conversion price of 50% of the market price which shall be calculated as the average of the lowest day during the preceding 5 days before conversion. The Promissory Note is due on January 23, 2013.
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 $320,301. The convertible note carries an 5% rate of interest and is convertible into common stock at a variable conversion price of 50% of the market price which shall be calculated as the average of the lowest day during the preceding 5 days before conversion. The Promissory Note is due on January 23, 2013.

http://ih.advfn.com/p.php?pid=nmona&article=56899315

And on April 10th they increase the number of authorized shares of common stock from 1,175,000,000 to 2,500,000,000 shares.

http://ih.advfn.com/p.php?pid=nmona&article=57111970


Also the company is currently in the marketing stage with the Power Brands Level 5 energy shots. Estimated cost for that is $50,000. And i dout they have cash on hand... JMO

So IMO this continues to trickle down until more news of Level 5 comes out. The stocks lifeline!!!