Far from their 0.025 level which tey traded at a year ago, the penny stock of Minerco Resources, Inc. (OTC: MINE) shocked the OTC world with its highest volume trading session ever on Tuesday. Having never seen volume above 40 million, MINE stock not only surpassed that level, but more than tripled that amount as selling pressure finally subsided. Considering that 110% of the issued and outstanding shares traded without any news or update from management, to say that this clean, renewable energy solutions focused Company is bullish would be an understatement.
Our Next Pick Is Coming Soon! Click HERE To Make Sure You Don’t Miss Any Of Our Breaking Alerts!
MINE Stock Quote
Market Cap: 214.34K
Last: 0.0017 ▲ 0.0005 (41.67%)
Volume: 137,820,971
Dollar Volume: $191,937
Open: 0.0012
High: 0.0019
Low: 0.0011
Trades: 280
Authorized: 1,175,000,000
Issued and Outstanding: 126,085,067
14-Day Rel Strength: 50.44%
14-Day Stochastic: 80.00%
Looking for Hot Penny Stocks?
Click here To Receive FREE Penny Stock Alerts
Back in November, Minerco Resources’ subsidiary, Level 5 Beverage Company, Inc., announced it had retained Power Brands as its beverage consultant. An industry expert, shareholders are banking on the consultants to assist in developing custom beverage product formulations, marketing strategies, production and sales for the new line of Level 5 energy shots.
However, although the Company stated to have an interest in two Hydro-Electric Projects and one Wind project in various parts of Honduras and, since October 16, 2012, added an additional line of business, Level 5 Beverage Company, Inc., a progressive specialty beverage retailer, there were no assets to speak of — $0 — for the three month periods ended October 31, 2012 and July 31, 2012.
While messages are being broadcast that today’s buying and the heavy amount of money that flowed into the MINE stock indicates that it was much more than iHUB money buying in, it appears after looking into the Company’s finances that that’s exactly what it was.
Although there were $0 assets for either of the last two quarters, the one growing portion of Minerco Resources’ balance sheet is their liabilities by more than $1 million from July 31 to October 31; $3,493,526 and $4,725,709, respectively. Granted V. Scott Vanis resigned as President and CEO of Minerco effective September 21, 2012 (remains with the company as the Chairman of the Board of Directors) and John Powers was named President, CEO and Principal Executive Officer of the company, you need more than power to bring some life (assets) into Minerco, you need to sell some stock.
With 41.96 million shares issued during the three months ended October 31, 2012 pursuant to convertible promissory notes from 2011, the only thing that’s on course is the Company’s plan to raise $13,629,000 required for the next 24 months of which $55,000 is said to be needed for product research and development activities during the next 12 months for their beverage retail business.
MINE stock is bullish alright, bullshitish at best.
About MINE Stock
Minerco Resources, Inc. is engaged in the development, production and provision of clean, renewable energy solutions in Central America as well as Level 5 Beverage Company, Inc., a progressive specialty beverage retailer. Click here to view the SEC filings for MINE.
Last 5 Trading Sessions:
| Date | Last | Change | % Change | Volume |
| 02/12/13 | 0.0017 | +0.0005 | +41.67% | 137,820,891 |
| 02/11/13 | 0.0012 | +0.0001 | +9.09% | 3,630,100 |
| 02/08/13 | 0.0011 | unch | unch | 6,859,200 |
| 02/07/13 | 0.0011 | -0.0002 | -15.38% | 6,958,900 |
| 02/06/13 | 0.0013 | unch | unch | 5,562,000 |
Bottom Line: MINE tapped the dummy well on Tuesday and landed itself on the top 10 penny stocks in terms of share volume. Expectations for market makers to not have taken notice to MINE stock and thicken up the level 2 bid/ask spread are as likely as an energy shot hitting the shelves in 2013 by which Minerco Resources actually books both revenues and assets.
Here is your opportunity to subscribe to the Most Read Penny Stock Newsletter
If You Can’t Make Money With Us, You Shouldn’t Be Trading Penny Stocks
(We are 100% Anti-Spam and will never rent or sell your information)
ShareFEB
