{"id":4540,"date":"2014-05-12T12:15:09","date_gmt":"2014-05-12T12:15:09","guid":{"rendered":"\/?p=4540"},"modified":"2014-05-12T12:15:14","modified_gmt":"2014-05-12T12:15:14","slug":"minerco-resources-inc-otcmktsmine-walking-on-thin-ice","status":"publish","type":"post","link":"\/articles\/minerco-resources-inc-otcmktsmine-walking-on-thin-ice\/","title":{"rendered":"Minerco Resources Inc. (OTCMKTS:MINE) Walking On Thin Ice"},"content":{"rendered":"\n

Minerco Resources Inc. (OTCMKTS:MINE<\/a>) <\/span>had a major slip on April 29, when the company all but announced that it’s withdrawing from the marijuana business in its investor conference call. Despite its best efforts, MINE<\/a> is yet to recover from the ensuing crash.<\/span><\/p>\n

Up until just recently, MINE<\/a> could easily be classified as a “fledgeling pot-stock company”. It had been slumbering in double zero land for some time until just two months ago, at which point it gathered a lot of following through the media exposure that joining the marijuana branch always ensures. The company rode the marijuana hype to the top of the charts for a while, but its ascent seems to be over now. The last ten sessions have brought MINE<\/a> investors almost nothing but grief, in spite of the good news and PR the company has provided on numerous occasions. <\/p>\n

On May 7, MINE<\/a> announced that it had procured $2 million worth of financing, in the form of a traditional Line Of Credit from Post Oak LLC, with a 10% annual interest rate. The loan, along with due interest, is to be returned over the span of two years. Which is, overall, a manageable feat, and a preferable alternative to the toxic funding the company has been so fond of in the recent past, especially as far as investors are concerned.<\/p>\n

Scott Vanis, the Chairman and Managing Director of MINE<\/a>, was especially optimistic about the loan, as the flexibility this move will give the Company breathing room and the opportunity to “expand multiple brands, streamline operations and realize revenues, simultaneously”.<\/p>\n

Suffice it to say that, although it was plentiful, optimism about the fizzy drinks product line failed to bring marijuana-enthusiastic investors back. As a result, the ticker fell deeper and deeper into the red zone, right up until Friday’s turbulent session when it managed to finally break its descent – though just barely.<\/p>\n

Currently it is impossible to tell how long will the fragile stability, that we saw then, last, especially now that MINE<\/a>‘s lost its main upward drive. The only thing that is certain is the fact that presently MINE<\/a> is in a most precarious position, and investors would do well to be extra careful when dealing with it.<\/p>\n

Another company that’s currently struggling with the volatility of the marijuana market is Tranzbyte Corp. (OTCMKTS:ERBB<\/a>), who lost 2.28% on Friday.<\/p>\n","protected":false},"excerpt":{"rendered":"

Minerco Resources Inc. (OTCMKTS:MINE) had a major slip on April 29, when the company all but announced that it’s withdrawing from the marijuana business in its investor conference call. Despite its best efforts, MINE...<\/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":[173,185],"class_list":["post-4540","post","type-post","status-publish","format-standard","hentry","category-news","tag-erbb","tag-mine"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4540","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=4540"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/4540\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=4540"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=4540"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=4540"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}