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How sweet that would be!!!!
Hope you get a shock, lol!
Its also strange they have a phone conference in November, I thought this was cut and dried, I wonder who they are talking to. I sent an email to Tim Benjamin although I would be shocked if he answered...
It always seemed like an automatic process until today... I've never seen this before...
NB
Every stock I was in that got the boot, got it on the day the halt ended...
NB
I tend to agree with that but I will wait to hear the final verdict from the SEC...
Bad. The SEC is on the verge of sending them to the grey sheets, where they won't be trading.
Not sure, but I think it will come down to either the stock being delisted or something is still going on???
I was wondering why we were still showing a bid and ask...
NB
Is this good, bad or neutral?
NB
Checking the SEC Orders, the latest I have found...
https://www.sec.gov/alj/aljorders/2016/ap-4261.pdf
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ADMINISTRATIVE PROCEEDINGS RULINGS
Release No. 4261/October 14, 2016
ADMINISTRATIVE PROCEEDING
File No. 3-17591
In the Matter of
SIERRA RESOURCE GROUP, INC.
ORDER POSTPONING HEARING AND
SCHEDULING PREHEARING CONFERENCE
On September 29, 2016, the Securities and Exchange Commission issued an order
instituting proceedings (OIP) against Respondent pursuant to Section 12( j) of the Securities
Exchange Act of 1934, alleging that Respondent has securities registered with the Commission
and is delinquent in its periodic filings. A hearing is scheduled for October 20, 2016.
I ORDER the Division of Enforcement to file by October 21, 2016, a declaration
regarding the status of service of the OIP on Respondent.
I further ORDER that the hearing scheduled for October 20, 2016, is POSTPONED, and
that a telephonic prehearing conference shall be held on November 28, 2016, at 2:00 p.m.
Eastern, if the proceeding has not been resolved by then.
_______________________________
Cameron Elliot
Administrative Law Judge
Have not, maybe they will not answer at all...
what a shame . Coupke of years ago this thing had so much potential. Goverment beaurecrats really screw d things up!
When do we go to the grey sheets?
NB
As if it would do any good, lol
I am not sue but I know I haven't. Not a bad idea, maybe someone can call them...
Anyone try to contact Bartman or Benjamin lately? Sure would like to hear a statement from one of them! I am sure they're alive and well.
Another non-filer victim of the SEC's "broken windows" policy.
RIP #SIRG
Sierra Resource Group, Inc. Caveat Emptor
Common Stock Grey Market
OTC Markets Group Inc. (“OTC Markets”) has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware) for one of the following reasons:
Promotion/Spam without Adequate Current Information — The security is being promoted to the public, but adequate current information about the company has not been made available to the public. Promotional activities may include spam email, unsolicited faxes or news releases, whether published by the company or a third party.
Investigation of Fraud or Other Criminal Activities — There is an investigation or other indication of fraudulent or other criminal activity involving the company, its securities or insiders.
Suspension/Halt — A regulatory authority or an exchange has halted or suspended trading for public interest concerns (i.e. not a news or earnings halt).
Undisclosed Corporate Actions — The security or company is the subject of a corporate action, such as a reverse merger, stock split, or name change, without adequate current information being publicly available.
Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the company has not made adequate current information available to the public.
Other Public Interest Concern — OTC Markets Group may determine that there is a public interest concern regarding the security. Such concerns may include but are not limited to promotion, spam or disruptive corporate actions even when adequate current information is available.
OTC Markets will resume the display of this security’s quotes once adequate current information is made available by the issuer pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use caution and due diligence in their investment decisions. Please read our Investor Protection page and OTC Markets Policy Regarding Caveat Emptor for more information.
Rickjc, you got that right!!!
That would be something!
Tomorrow, October 13 is the date which SIRG needs to respond...
When do we go grey or get revoked?
NB
They have to prove last years hype had some facts behind it.
NB
Here's the only hope, in my way of thinking. They have been given 10 days to answer for their transgressions. Suppose they intended to run this hard one more time? Well, now they need to answer to a higher authority. Maybe they have something to say, after all.
It's a Hail Mary. But there is a TON of cash on the line IF this were their intention.
Succumb to 'The Man'? Or BS their way to another run?
Tick Tock. Tick Tock.
Management just walked away and left us hanging...My last pinky,,,I swear this is the last one...
NB
I got 4 plus million. Shoulda sold for .0001 when I had the chance.
For the love of Gawd! Would someone (legit) please buy this piece of property, and do something worthwhile and profitable with it, for the good of all on this board? And me, damnit!
Seems all this nonsense created by some pretty bright people, has been exercised for the dark side! :)
What a waste. But true, halts can go any which way.
But so far, just a colossal waste of time following this thing.
Still have a million that will die with me, or break out on a whim one day. So, what the hell.
This just shows last years hype was a scam
Toxic stinky pinkies are almost impossible to make money on for a retail investor. The toxic lenders and insiders make any money that's available and it comes from retail buyers who fall for the pump and dump.
It's a sad testament to the state of both morality and regulation, but it's somewhere between a just-barely-legal and illegal-but-rarely-prosecuted theft.
Kindof a bummer to think that this is probably the end for SIRG. The management just walked away without a word to any of the investors. I've yet to make a dime on a penny stock and SIRG is no exception.
It's done. Worthless. Kaput. Write off for 2016.
http://www.finra.org/investors/alerts/when-trading-stops-halts-suspensions-other-interruptions
What Happens After a Trading Suspension Ends?
Historically, most companies subject to trading suspensions by the SEC have been quoted in the over-the counter (OTC) market on the OTC Bulletin Board or other broker-dealer operated systems prior to the suspension—and most SEC suspensions are based on a lack of current information about the company. The end of a trading suspension does not mean that quoting and trading automatically start again for OTC stocks. Instead, certain requirements in SEC Rule 15c2-11 must be met. A broker must also file a form with FINRA that needs to be approved before quoting can resume. The broker can file the form after it obtains and reviews current information about the company, including:
the company’s organization, operations and certain control affiliates;
the title and class of securities outstanding and being traded; and
the company’s most recent balance sheet and profit and loss and retained earnings statement.
The broker filing the form must have a reasonable basis for believing the information is accurate and that it comes from reliable sources. A broker generally cannot quote the stock or solicit or recommend the stock to any investor until the form is approved. After approval, the broker can begin quoting—and other brokers may also quote the stock relying, or "piggybacking," on the first broker’s quote without filing the form or reviewing the company information on their own. Be aware that the SEC’s ability to continue a trading suspension indefinitely is strictly limited. As a result, the lifting of a trading suspension does not mean that the SEC’s concerns have been addressed and no longer apply.
Investors need to be careful before purchasing a stock after an SEC trading suspension has ended. If you are considering this move, here are several things you can do to help protect yourself:
Ask the broker quoting the stock what information it has on the company and how recent that information is, bearing in mind that the SEC’s reasons for imposing a trading suspension typically involve a lack of current, reliable information.
Look for information on your own and evaluate carefully whatever you find.
Understand that there may be an illiquid market for some of these stocks, particularly if the company does not have to file periodic reports with the SEC.
Use extreme caution if anyone is recommending you purchase the stock without offering current information about the company.
Rickjc, that is a great question and I wish I knew the answer. For those of us who still own stock, its a no brainier, we will keep it since we have no choice. As far as the future, I liked your initial response....da...da...that's all folks!!!!
So Stargazer, where do you think this is headed?
and even if they respond within the 10 days, the suspension will still last 10 days.
Yes, I meant to change it and forgot. Thanks.
NB
it is already suspended. what you mean is revoked.
IT IS HEREBY FURTHER ORDERED that Respondent shall file an Answer to the
allegations contained in this Order within ten (10) days after service of this Order, as provided by
Rule 220(b) of the Commission’s Rules of Practice, 17 C.F.R. § 201.220(b).
If Respondent fails to file the directed Answer, or fails to appear at a hearing after being
duly notified, the Respondent, and any successor under Exchange Act Rules 12b-2 or 12g-3, and
any new corporate names of any Respondent, may be deemed in default and the proceedings may
be determined against it upon consideration of this Order, the allegations of which may be
deemed to be true as provided by Rules 155(a), 220(f), 221(f), and 310 of the Commission’s
Rules of Practice, 17 C.F.R. §§ 201.155(a), 201.220(f), 201.221(f), and 201.310.
o.k.,maybe you might want to re read it. no where does it ask for a response, particularly a response within 10 days.
There is nobody steering this ship so it will crash against the rocks...
NB
Read the Administrative proceeding, they have 10 days to respond or automatic actions take place.
NB
what? it is suspended for ten days. the suspension is not some type of deadline. after 10 days it will trade on the grey market until the registration is revoked. possibly for months.
it is not a halt, it is a 10 day suspension. halts apply to exchange traded stocks. this scam does not trade on an exchange.
Consider it done!
If there is nobody at the helm to respond to the SEC within the specified time period it will be suspended.
NB
The problem is, OTCMarkets is not an exchange.
An SEC SUSPENSION is not the same thing as an exchange HALT.
Renee posted links about the suspension, that's where to look for answers.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=125466468
It trades on OTC specifically OTC Pink.
On which exchange does SIRG trade?
Trading in a security can be temporarily halted by stock exchanges for a variety of reasons,
As of now it's just a halt we'll see.
Found this on Scottrade:
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Link: http://www.otcmarkets.com/stock/SIRGQ/company-info
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