{"id":4284,"date":"2014-04-03T11:14:21","date_gmt":"2014-04-03T11:14:21","guid":{"rendered":"\/?p=4284"},"modified":"2014-04-03T11:14:54","modified_gmt":"2014-04-03T11:14:54","slug":"minerco-resources-inc-otcmktsmine-going-red-again","status":"publish","type":"post","link":"\/articles\/minerco-resources-inc-otcmktsmine-going-red-again\/","title":{"rendered":"Minerco Resources Inc. (OTCMKTS:MINE) Going Red Again"},"content":{"rendered":"\n<p style=\"margin-bottom: 0in;\"><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/MI.png\" border=\"0\" width=\"400\" height=\"178\" \/>Minerco Resources Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a>) had an amazing run from March 14 to March 25, increasing its market value nearly 900% over the course of 7 market sessions. After that point, the journey became rougher, and now <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a> is down another -8.28%.<\/p>\n<p style=\"margin-bottom: 0in;\"><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a>&#8216;s rapid chart climb might have been impressive while it lasted, but it was all too clear that the company couldn&#8217;t keep growing at such an alarming rate for very long. With that in mind, it didn&#8217;t come as that much of a surprise when <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a> took a nose dive immediately after its latest financial report showed investors the disappointing truth about the company&#8217;s finance: <\/p>\n<p style=\"margin-bottom: 0in;\">&nbsp;<\/p>\n<ul>\n<li>cash on hand &#8211; $24 thousand<\/li>\n<li>total assets &#8211; $85 thousand<\/li>\n<li>total liabilities &#8211; $2.8 million<\/li>\n<li>sales &#8211; $5147 (NUMBER NOT IN THOUSANDS)<\/li>\n<li>net loss &#8211; $34 thousand<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"margin-bottom: 0in;\">The crash lasted only two sessions, after which hype and hope pushed the ticker upwards again, as did <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a>&#8216;s March 31 press release. The announcement that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a> will be holding collective and individual meetings with all of the Company&#8217;s lenders and Note holders during the following week qualified as media exposure and pushed the ticker up. However, upon closer examination, the very fact that such a meeting has become a necessity can be taken as yet another red flag. The meeting is an obvious symptom of <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a>&#8216;s heavy reliance on funds acquired through convertible promissory notes.&nbsp;<\/p>\n<p style=\"margin-bottom: 0in;\">Additionally, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a> has reached 2.1 billion outstanding shares, around 0.6 billion of which were issued after June 2013. Most of these were issued at dirt-cheap conversion prices. The way things are going, <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a> traders are looking at the possibility for even more dilution, before the company hits its present limit of 2.5 billion authorized shares.<\/p>\n<p style=\"margin-bottom: 0in;\"><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"http:\/\/www.hotstocked.com\/articles-img\/small\/914MINE_logo.jpg\" border=\"0\" width=\"120\" height=\"37\" \/>Between that, and the fact that <a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MINE\">MINE<\/a> is now exhibiting all the market behavioral traits of a full-fledged pot-stock, it should&nbsp;come as no surprise that the ticker started crashing once the dust started to settle.<\/p>\n<p style=\"margin-bottom: 0in;\">Another marijuana stock that went seriously in the red yesterday was MyEcheck Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=MYEC\">MYEC<\/a>), who lost 7.69% of its market value in the same session.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Minerco Resources Inc. (OTCMKTS:MINE) had an amazing run from March 14 to March 25, increasing its market value nearly 900% over the course of 7 market sessions. After that point, the journey became rougher,&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[185,821],"class_list":["post-4284","post","type-post","status-publish","format-standard","hentry","category-news","tag-mine","tag-myec"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=4284"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4284\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}