Siberian Energy Group Inc (fka SIBN)

[whytestocks]

News: $SIBN SI-BONE, Inc. Announces CIGNA Establishes Positive Coverage for MIS SI Joint Fusion using the iFuse Implant System

SANTA CLARA, Calif., Dec. 13, 2019 (GLOBE NEWSWIRE) -- SI-BONE, Inc., (Nasdaq: SIBN), a Silicon Valley-based medical device company dedicated to solving musculoskeletal disorders of the sacropelvic anatomy, announced today that CIGNA has established a positive coverage policy for minimally ...

In case you are interested SIBN - SI-BONE, Inc. Announces CIGNA Establishes Positive Coverage for MIS SI Joint Fusion using the iFuse Implant System

[Renee]

SIBN revoked:

http://www.sec.gov/litigation/admin/2015/34-74943.pdf

[Renee]

SIBN SEC Suspension:

http://www.sec.gov/litigation/suspensions/2015/34-74328.pdf

Order:

http://www.sec.gov/litigation/suspensions/2015/34-74328-o.pdf

From the Delinquent Filers list:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110680509

[dmb17]

nice chart.

[chemist99]

any luck? seems to me the plan here is to stay silent until everyone's given up & they've quietly sucked up all the remaining shares at the bid.

[chemist99]

That'd be great. post what you find. the other number listed on the OTC Markets website is also inactive.

[FlatEarthSoc]

Yeah this company is just a shell now.. went dark right after the RS. I doubt that Madison Av office is still there. Maybe I'll pop in next time I'm over by grand central. Just out of curiosity,, I really only have a token amount of shares.

[chemist99]

phone no. listed on the website is no longer in operation. IMHO seems like they just used the SIBN shell to squirrel away the Koklanovskoe molybdenum-tungsten deposit for their grandchildren haha...

http://www.siberianenergygroup.com/

[FlatEarthSoc]

is it back from the dead? some decent volume would be nice

[kranthikumar]

SIBN is up by 110%

[chemist99]

nah, looks like they're gone back into hibernation until 2014...

[chemist99]

Eik, some plausible scenarios you're suggesting there, agree. in any event, they don't have much left of the initial 500,000 GBP loan they received. So they have to come back to the market to raise more pretty soon. Promising initial exploration data would make that easier....

[eik]

Yes, SIBN is notorious for its late filings. :) OTOH, your are definitely right about "something brewing behind the scenes". Here is a short list of recent significant changes:

1. Our "parent" First Iron (former RAM Resources) reverse merged into China Goldcorp Ltd and will be traded on TSXV now:
http://www.istockanalyst.com/business/news/5746929/china-goldcorp-ltd-enters-into-definitive-agreement-with-first-iron-group-plc-in-respect-of-a-proposed-qualifying-transaction
Actually, the initial plan was to be listed in LSE. So, I am not sure whether the plan changed or it's just a part of the global plan to go public "everywhere".

2. Effective March 20, 2012, Michael Hellenbrand resigned as the CEO of SIBN (I believe to take CEO position in First Iron again), and Eran Forman was appointed as SIBN CEO:
http://www.hotstocked.com/8-k/siberian-energy-group-inc-SIBN-1427952.html
http://www.macroaxis.com/invest/manager/SIBN.OB--Eran_Forman

3. We will celebrate a 1 year anniversary of SIBN-RMC restructuring, when current insiders got basically all outstanding shares of SIBN. It means, as I remember (maybe wrong), that some of those shares will go out of restriction next month.

What we currently have is illiquid, basically private, company with almost all the shares held by insiders. The company owns real valuable assets, although they are pretty far, at least couple of years, from production. They need to attract new capital to move faster to production stage. So, where can they go from here?
1. They can take it private. It’s a perfect time to do this if they want – just buy a few shares from members of this board. :) I doubt anybody on iHub holds sizeable post-split positions. So, buy the company and resell it later. There are many interested Russian investors, and I even heard about possible Chinese buyers.
2. They can keep it public. In this case they will need to attract new investors (listing in TSE; join venture; private placement; or something else). SIBN should deserve market recognition as growing exploration company, or acquire some producing (or close to production) assets to show revenue.
3. Some structural changes are possible (and very likely, IMO): official association with First Iron; JV with Chinese company, etc. I always knew that Chinese are very interested in this region and this kind of assets, but recent development shows that the company maybe moving in this direction already.

All above is just my speculation.

[chemist99]

10K late, now ~ 2 weeks behind deadline of the 12b-25 rule delay notice filed at the end of March.
maybe something brewing behind the scenes ??

[chemist99]

nevertheless, those preliminary ural exploration data from the eighties must be somewhat promising IMO...you don't just get ~ 1 million USD from an investor out of the blue. IMO, tungsten & molybdenum will become very hot commodities once China tightens the export noose; - China used 55 percent of all of the world’s metals last year. (read: http://rareearthinvestingnews.com/2527/the-future-of-critical-metals/ ). For a few months after the R/S, I was able to soak up some shares here and there at the bid or slightly above. After the last quarterly that listed the UK funding, not anymore - FWIW.

[eik]

Up 589% today! I don't think you would be able to sell at the ask... or buy at the bid. If anyone managed to do this - let us know. With spread like this and no trading at all they just show us where they think this thing should be traded right now. Unless management plans to take the company private they need to do something about the float: secondary offering, listing on other exchanges, etc. IMO.

[ottoman]

1500 shares bought today :) too bad I didn't have a GTC open order for this stock at the ask.

[eik]

As I stated before, SIBN is basically a branch of UK company managed by the same team. As to the stock, the float is zero, and all insiders shares are restricted. It will probably stay dead at least till May-June this year. IMO.

[chemist99]

some UK investor gave them 500,000 GBP per last filing for geological licence; so something's going on in the background. willing to wait this one out; tungsten & molybdenum ....

[eik]

Yes, I don't know how to explain this sudden activity. Probably some end of the year tax related moves...

[sbb4th]

appears to be some nibbling here and there.

[FlatEarthSoc]

things waking up around here?

[sbb4th]

Someone is nibbling at the edges. 500 shares at 1.01

[eik]

It's funny to read automatically generated reports like this:

Sharp Percentage Gainer at OTC – SIBN, ...

Siberian Energy Group Inc (OTC:SIBN) jumped 1,183.33% to close at $0.770 with the total traded volume of 300.000 shares beating the average volume of 48.00.
Its shares were trading within the range of $0.0225-$0.77 while its opening price was $0.0225. Its market capitalization is $51.87 million. Its stock price 52 weeks low was $0.02 and 52 weeks high price was $4.30.
http://www.epicstocknews.com/201111161314/trading-briefs/sharp-percentage-gainer-at-otc-%E2%80%93-sibn-wnyn-mgone-zvtkd/

1,183.33% gain, wow! :) The truth is: SIBN is basically privately owned company now with insiders holding 99+% of outstanding shares... and they all are restricted. Stock is illiquid, and daily volume 300 shares (!) looks like heavy trading. It's hard to expect any changes in this pattern before insiders shares come out of restriction. Another solution would be to list the stock on new exchange (TSX). In this case the IPO should be priced somewhere in $1/sh range (at least), which would help to bring SIBN from coma.
IMO.

[eik]

Yes, GBGD is in my favorites list since you first mentioned it to me. Never bought though... Good thing about thinly traded stocks - they outperformed the market during this brutal correction.

[eom7]

Thanks for the heads- up.

Did you end up look at GBGD? Do the DD!

[eik]

Koklanovskoe deposit forecast resources estimates (based on intensive drilling and exploration activity performed in 1987-1989):
Tungsten ores: P1 – 65 mln tons (average grade of WO3 – 0.17%). P2– 19 mln tons (average grade of WO3 – 0.09%).
Molybdenum ores: P1 – 365 mln tons (average grade of Mo – 0.07%), P2– 68 mln tons (average grade of Mo – 0.06%).
Total resource potential of Koklanovskoe ore occurrence is 50 thousand tons of WO3 per category P2; besides, there are 17 thousand tons of molybdenum forecast resources per category P2.
Apart from tungsten and molybdenum, there is high concentration of bismuth, lithium, beryllium, rhenium, as well as arsenic and gold. Gold content varies from 0.1 to 3.0 g per ton, silver content is up to 9.2 g per ton.

Koklanovskoe is categorized as one of the big deposits in Ural region with potential to become “very big” (depending on spot price of metals).

P.S. IHub policy is to automatically remove moderators from inactive boards. So, I am going to entertain you weekly and post whatever information I have while I am interested in keeping this honorable position. I expect new acquisitions and new financing coming but, as I stated before, current “almost zero” float makes this stock illiquid and untradeable. There are several ways to fix this, and I believe the management is working on this.

[eik]

OOO Koklanovskoe (SIBN branch in Russia):
http://www.k-agent.ru/?mod=obj&id=5877005
Official results of the auction for Koklanovsky deposit license:
http://www.rosnedra.com/article/3970/3

Use Google translate.

[eik]

One thing everyone needs to keep in mind - after reverse merger almost 99% of SIBN outstanding shares are restricted and float has literally disappeared. There is almost no free trading shares on hands. That's why the trading is so thin. I am trying to clarify when the float will go up (usually it takes a year after merger) and some other related stuff. Anyway, it will take some time before we see any significant movements here. Insiders holding 99% of restricted shares and, I suspect, are not interested to release anything significant too early (just my guess). So, this stock needs patience right now. Don't look at it too often.

[sbb4th]

fine by me

[hedge_fun]

Nope.....right board!

[eik]

SIBN is not your overnight success story now (after recent structural changes). But this is the company with valuable assets/licenses, real plans of exploration, production, and future acquisitions. Long term investors with some patience will be rewarded after all. IMO.

[eik]

BTW, I've just noticed that Walker left the moderator position here. I may take it if nobody else is interested. :)

[eik]

This is SIBN board. Did you click wrong button?

[hedge_fun]

I hear it has ties to a de-listed stock.........

was just asking

[eik]

Yea, you can see 100 shares traded sometimes, when someone dumps them at the bid. :) After restructuring almost 97+% (?) of shares belong to the new management and they are restricted. So, the real float is almost non-existent. Anyway, unlike other similar Canadian-Russian businesses (let's skip the names :) this one is real. They recently found big private investors, received secured loans, etc. I am afraid we are not going to hear much the next several months. When the management is in real "possession" of their millions shares they will probably start talking. That's why I just put my shares aside till better times. I am 100% sure those times are coming.
IMO.

[hedge_fun]

Does this even trade?.........

Holding my core position...

Could be hard to get out with NO VOLUME!

[chemist99]

well, the O/S count is certainly unparalleled, though. just lean back. IMHO, the metals potential in the Urals is something worth holding onto....

[ottoman]

someone sold 100 shares at .0022? Smart.

[ottoman]

this one turned out to be a dud. Maybe in several more months we'll get some movement. In the mean time, into the crap heap it goes.

[eik]

I think, now when the reorganization is done they need to start issuing PRs and update shareholders on regular basis. This is kind of annoying to wait for the next quarterly report to see what is happening in the company. Hopefully they are working on this. At least, I see a new website "under construction", etc. For now SIBN trading is basically halted - buyers and sellers are on strike.
Holding my core position...

[eom7]

7. Subsequent Events:

On April 27, 2011, the Company entered into a Share Exchange Agreement (the Agreement) with Rare Minerals Corporation (RMC), a privately held corporation, to acquire all of the outstanding shares of RMC. This agreement became effective on May 11, 2011, which is the date the Company took control of RMC.

RMC was formed as a Nevada corporation on December 9, 2010. RMC’s wholly-owned subsidiary is OOO Koklanovskoe (Koklanovskoe), a Russian limited liability company. Koklanovskoe holds a license (KUG00939TE) for the Koklanovskoe Molybdenum-Tungsten deposit in the Kurgan Region of the Russian Federation. Through the acquisition of this license, the Company plans to enter the market for the exploration and production of rare and semi-rare earth metals and precious minerals.

Pursuant to the Agreement, the Company acquired all of the outstanding shares of RMC by issuing 65,200,000 shares of restricted common stock (representing 99% of the Company’s then outstanding common stock) to the RMC shareholders. As a result of the Agreement, control of the Company changed to the former RMC Shareholders, subject to certain voting restrictions in relation to the appointment of the Company’s Board of Directors during the first year subsequent to the effective date of the Agreement.

The fair value of the common stock issued to RMC shareholders on May 11, 2011, the acquisition date, was $.37 per share which equates to $24,124,000 of common stock being issued.

The consolidated balance sheet and consolidated statement of operations of RMC as of and for the period ended May 11, 2011 is as follows:

Balance Sheet

Assets:

Cash
$ 2,000
Prepaid expenses
87,000
Intangible assets
405,000
$ 494,000

Liabilities:

Loans payable
$ 508,000
Other liabilities
3,000
511,000

Accumulated deficit
(17,000 )
$ 494,000

Statement of Operations

Revenue
$ -
Interest expense
14,000
Other expense, net
3,000
Net loss
$ 17,000

The consolidated balance sheet as of March 31, 2011 and December 31, 2010 and statement of operations for the three months ended March 31, 2011, as if the Company had acquired RMC as of these dates and through the period ended, is as follows:

Balance Sheet

2011

2010

Assets:

Cash
$ 3,000 $ 1,000
Prepaid expenses
87,000 9,000
Intangible assets
24,529,000 24,124,000
$ 24,619,000 $ 24,134,000

Liabilities:

Loans payable
$ 508,000 $ -
Other liabilities
523,000 367,000
1,031,000 367,000

Equity:

Common stock and additional

paid-in capital
39,882,000 39,882,000
Accumulated deficit
(16,280,000 ) (16,101,000 )
Accumulated other comprehensive

loss
(14,000 ) (14,000 )
23,588,000 23,767,000

$ 24,619,000 $ 24,134,000

F-10


Three months


ended


March 31,

Statement of Operations

2011

Revenue
$ -
Interest expense
14,000
Other expense, net
164,000
Net loss
$ 178,000

Basic and diluted loss per

common share
$ 0.00

RMC was not formed until December 9, 2010, therefore the Agreement would have had no effect on the three months ended March 31, 2010.

On April 22, 2011, the Company entered into employment contracts with two senior management employees that set annual compensation at a combined $255,000 per annum. These agreements expire at various times during 2011.

Effective May 5, 2011, David Zaikin resigned as the Chief Executive Officer of the Company and Michael Hellenbrand was appointed as the Chief Executive Officer to fill the vacancy left by Mr. Zaikin’s resignation. Mr. Zaikin continues to serve as the Chairman of the Board of Directors of the Company.

On June 15, 2011, the Company purchased certain geological data from two shareholders for 1,500,000 shares of restricted common stock. The fair value of the common stock issued to these two shareholders on this date was $.23 per share which equates to $345,000 of common stock being issued.

The Company has evaluated subsequent events for recognition or disclosure through the date these financial statements were available to be issued, June 21, 2011.

[eom7]

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

In connection with and pursuant to the Share Exchange, we issued an aggregate of 65,200,000 shares of restricted common stock (representing 99% of our then outstanding shares of common stock) to the RMC shareholders.

On June 1, 2011, the Company entered into a Data Purchase Agreement with Ioulia Chipilevskaia, a significant shareholder of the Company and former shareholder of RMC and purchased from Ms. Chipilevskaia all of the geological data held by her relating to the Deposit including certain core samples. In consideration for the acquisition of the geological data, the Company issued an aggregate of 1,500,000 shares of restricted common stock to Ms. Chipilevskaia and the Joseph Rosen Foundation, Inc. The closing of the Data Purchase Agreement occurred on June 15, 2011.
______________________________________________________________

IN CONSIDERATION OF THE COVENANTS and agreements contained in this Purchase Agreement, the parties to this Agreement agree as follows:

Purchase of Goods

The Purchaser will purchase from the Seller the following Geological Data:

1.
56 Boxes of drilling core from drill hole numbers: 224, 226, 228, 231, 233, 234, 235, 236, 237, 238, 239, 240, 242, 243, 244, 245, 247.

Purchase Price

In consideration of and in exchange for the sale, assignment, transfer and conveyance of Geological Data, the Purchaser agrees to issue to Seller 1,500,000 shares of the Purchaser’s common stock. On the Closing Date the Purchaser will make an official entry in the shareholders’ register and will give instructions to the transfer agent to issue the share certificate to the Seller or its nominee in accordance with Seller’s written instructions.

The Seller and the Purchaser both acknowledge the sufficiency of this consideration. The purchase price specified in this Agreement includes the amount of any present or future sales, use, excise or similar tax applicable to the sale of the Goods.

Delivery of Geological Data

At the time of signing of this Agreement the parties confirm that Geological Data has been delivered and accepted the Purchaser’s representative Igor Evgenievich Glushkov at the office of LLC "Koklanovskoe” located at 106-101 K. Marx Str., Kurgan City, Kurgan region Marx Str., Kurgan City, Kurgan Region, Russian Federation.

[today32]

Edited.