Southridge Enterprises Inc (SRGE)

[Rich]

Southridge Enterprises Inc. (SRGE.PK) The Former Puppet Of A Seasoned Criminal

By Peter Hristov



Dec 14, 2010

Oct. 23, Southridge Enterprises Inc. (PINK:SRGE) executed a 2000 to 1 reverse split, along with a change of its symbol from SRDG to SRGE. This, however, was not the only time the company has changed its stock abbreviation.

It seems that the company is trying to wash some stains on its image by going through multiple symbol changes, hoping that eventually no one will bother to disentangle the knot, which leads to some intricate stories in the past.

To start with, an official 8-K report indicates that Mr. Alex Smid had been president and director of SRGE until 2007. This person has such an extensive dossier of illegal activities that it will take a novel to encompass all the scams he had been involved in. According to the words of an investor, who says he knows Alex Smid firsthand, the latter is a seasoned criminal involved with the Mexican and Russian Mafia whose unscrupulous practices date back to 1980. His criminal feats include extortion, blackmail, loan sharking, counterfeiting, prime bank fraud and identity fraud.

In March this year, a Canadian judge issued an arrest warrant against Mr. Smid on accusations of tax evasion and tax fraud. Due to the publicity, which the process attracted, it turned out that Alex Smid had been an officer or director of several microcap companies, none of which "is showing any signs of life".

While, seemingly this is not the end of the shady story of Alex Smith, SRGE has actually shown some signs of life recently. It cannot be overlooked that a company with such kind of past has been the object of a quite expensive promotional campaign which started at the beginning of this week. The compensation which each individual promoter received for the advertising of SRGE sums up to at least $300 thousand.

To cut a long story short, it should already be apparent that investors need to approach SRGE stock with an utmost caution. Given the company's inglorious past, the fact that it has been marked caveat emptor and that not a single piece of official information has been published for two years, it should be clear that the recent news combined with the massive promotion smell of another pump and dump scheme aimed at the unsuspecting investor.

http://www.pinkinvesting.com/article/view/Southridge-Enterprises-Inc.-SRGE.PK-The-Former-Puppet-Of-A-Seasoned-Criminal