Scott Vanis, President And CEO, Minerco Resources Inc (OTCMKTS:MINE) has written a letter to its shareholders regarding 3Q2015 achievements and results. As per the reports, his primary focus, throughout this letter, was on citing Minerco’s growth strategy, progress, and achievement. But he also shed some light on the shareholder expectations and the tough road ahead.
Insights On The Letter:
He started his letter saying that he had both good news and harsh news to share with everyone. According to Vanis, the company had recently filed form 10-Q for the three-month period ending April 30, 2015. Minerco has achieved a lot of milestones within a short span of time, which is something the entire management team is proud of. The prime focus of Minerco is on creating value for shareholders in the long run and live up to its customers’ expectations.
He stated that the company had started the procedure for returning common stock shares to the treasury department to ensure a hassle-free proceed. It is planning to enter the next phase for growth, evolution and expansion, and the current share structure of the company seems complete fit for the future expansion.
Minerco Resources Inc (OTCMKTS:MINE) has been in contact with major banking partners, financial institutions, and other entities for planning, consulting and organizing different ways out for a long time. Eventually, it has reached to a state where it can finally start delivering what it has received from shareholders.
Financial Highlights For April Quarter:
On January 31, 2015, total assets of the companies were worth $800K; however, they elevated to $3.51 million at the end of the April quarter. Apart from this, the company also managed to bring down its derivative liabilities by over $700k compared to January quarter. The incremental revenues of the company have increased by $33000 YOY. The management team is happy and hopes for better numbers in the July quarter.