Minerco Inc (OTCMKTS:MINE) Gets A Close Look

Is Minerco Inc (OTCMKTS:MINE) a scam? Amidst huge amount of good commentaries on Twitter, we found one person firing all the alarms. Check it out: Twitter about MINE - Minerco Inc OTCMKTS:MINEAt Insider Financial, we are ready to investigate any new hint about companies. So, the tweet interested us very much. The following question is particular: Who is Vanis? A Google search quickly revealed that he is the CEO and Chairman of Minerco Inc. In addition, Google reveals that he is said to be a fraud master. Check the following comments from a popular forum. They appear on the first page of the search engine: Vanis in Google - Minerco Inc OTCMKTS:MINEHonestly, the trading volumes and the recent stock performance are quite satisfactory. The company seems to have an interesting business model even though revenues have not been returned yet. However, having such type of commentaries online about the CEO should scare the market participants. The most worrying factor is that either many have not done their due diligence, or they simply don't care. In this article, we will review whether the comments are fair. First of all, check the price action in the following stock chart: 2 months chart for MINEBusiness ProfileMinerco Inc. is a brand management company specializing in the development of beverage, entertainment, and related ancillary brands. The list of brands includes Vitaminfizz and The Herbal Collection. The company was founded in 2007 and is based in Houston, Texas.Who is the CEO?The CEO is V. Scott Vanis. He has been also President and Chairman of the Board. Let's review his business career. He holds a Bachelor of Science in Petroleum Engineering from The University of Tulsa. He started his career as Staff Petroleum Engineer with Pinnacle Technologies, Inc. From June 2000 to June 2001, he has also served BJ Services, Inc. as a Field Petroleum Engineer. Additionally, he is also president of VSV Resources, LLC, as well as President of TC Energy International, SA.What's our take? We believe that he is vastly prepared for his post in Minerco Inc. The fact that other companies are requiring his services is also a good point. Additionally, we wonder how somebody holding executives roles in three institutions can be broke. Readers always need to do their research. However, nothing indicates, from the information consulted, that Mr. Vanis steals from other people.The company is acquiring new business modelsThe most interesting in the recent history of MINE is the acquisition of Fuse Live Events, Inc. for 750 million shares. We cannot really tell whether this transaction is a game changer. We will see that in the following years. However, shareholders should recognize several good points. First of all, it permitted the company to obtain a new business model:

"Fuse is a recognized live events company which capitalizes on the always expanding, global live entertainment market through the generation, production and promotion of premium quality live entertainment such as concerts, festivals and other live events." Source

Furthermore, new clients will come with Fuse Live Events, Inc.

"Fuse delivered unforgettable experiences to hundreds of thousands of diversified consumers in multiple key markets in demanded genres. A notable list includes events around Super Bowl LI in Houston,NBA All Star Weekend in New Orleans and Mayweather vs. McGregor in Las Vegas. Fuse also hosts, produces and presents live concert in South Florida, Houston and New York City, among others." Source

There is more.The acquisition also enhanced the number of assets of Minerco Inc. They increased by 476% from July to August 2017. From $0.29 million, they are now equal to $1.7 million, as 1.4 million in Goodwill were added. Check the following image: Increase in Goodwill - Minerco Inc OTCMKTS:MINEThe optimism around the merger is quite high. In February, we could read the following from the CEO:

"We believe that these acquisitions will substantially increase the assets and shareholder value of the company. Our goal over the next year is to become a holding company for major assets and subsidiaries that fit within and define our business model. " Scott Vanis, CEO of Minerco

We agree with this vision. In our opinion, the company is now integrating Fuse Live. If this complicated process is executed in a satisfactory manner, the shareholders should benefit from it. There is one more necessary remark. The expectations are quite high since the Goodwill is very significant. If MINE is able to transform this large amount of money into shareholder value, the price will run. Undoubtedly, this is one of the most significant catalysts on this name.That's not all.In February, we could see how the CEO prepared the company to "possible acquisition targets." It was announced in this press release, which created an astonishing market reaction. More than 1.5 billion shares changed hands the following day. We believe that the reaction of the market makes sense. Not only the company became compliant with regulators - check what lawyers certify in this letter -, but it is also currently "negotiating to acquire assets and brands in the hottest sectors of the market." We are expecting to be updated in the following weeks. As always, only market participants ready to read the announcements will profit from the price increase. Thus, be alert.Follow the trades of the CEOIn our opinion, this is a factor to be studied closely. We had access to the following document, which shows that he acquired preferred stock while selling common stock. The most interesting is that he did it when the acquisition of Fuse was announced.He is the CEO, so he is obviously going to be bullish about the stock. However, this type of information can provide us some hints regarding the next announcements. Check the following image and form your own opinion: Share Acquisitions - Minerco Inc OTCMKTS:MINEConclusionCurrently trading with a market cap of $0.7 million, MINE is an interesting story among small caps. We don't give much credit to the forum comments about the CEO. The asset/liability ratio of MINE is under one, and the company is not reporting revenues yet. However, this does not make the CEO broke. Readers are free to form their own opinion. But, we did not see any proof that could give credibility to the comments. Additionally, anybody can create a fake account and write nonsense posts in forums.To sum up, this is an interesting name to study closely!We will be updating our subscribers as soon as we know more. For the latest updates on MINE, sign up below!Disclosure: We have no position in MINE and have not been compensated for this article.Image courtesy of theilr via Flickr