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And always something about shorty and NITE is going to be prosecuted.
IG
Yes, I heard the SRGE creative writing team was hard at work creating another bogus press release to get investors all giddy and losing more money.
Since Southridge Ethanol all that has been issued are press releases that are like the Sierra blog - FICTIONAL LMAO!!!
What a train wreck.
IG
It is odd this is from June 13, 2012 but there is nothing in the mining concession that remotely suggest this is accurate.
Also, you did notice this is from sgm.gob.mx (geological services) and NOT economia.gob.mx (Ministry of Economy) which governs the mining industry.
It is also about the Minerals market - there is nothing in the PDF file about mining that is why the last sentence you refer to is so out of place it doesn't make sense - very odd.
There is not one thing about mining it is talking about market prices (copper, aluminum, zinc, lead, nickel, uranium, oil and natural gas. There isn't even a mention of gold.
I don't have any idea what you posted and how it is germane to SRGE having any mining concessions. But, I know they don't have any at Cinco Minas.
IG
Stervc, could you please explain why in all of the DD you use MexicoMiningCenter.com (MMC) as proof that SRGE has mining concessions in Mexico?
You refer to it as the Mexican Mining Registry, when in fact it is site that is not affiliated with the Mexican government in anyway. One thing immediately it would be a .mx not a .com website if it was from the Mexican government.
It is a paid for inclusion site and it scraped data for its news feeds. Also, do you think a government site would have banner advertising - I don't think so.
I can post many examples where you and the others have used MMC to validate that SRGE is a real company mining in Mexico - but I would like a explanation for why you used this misleading information in your DD.
IG
Just parroting a SRGE press release isn't DD. How about providing some facts, links etc to verify SRGE has mining concessions on Mexico.
The SCCO buyout rumor was started on the Sierra blog (read disclaimer for some DD).
The only place that has reported a buyout or JV is a SRGE press release and they have been less than truthful.
They have a long and sorted history of releasing bogus press releases. Do a little real DD and look at all of the Southridge Ethanol PRs that claim financing, buyouts, huge contracts etc - but they were nonsense that never happened.
If you think a $0.00003 dividend is proof of anything - you will soon find out that it is proof that SRGE is a pump and dump. The $15,000 dividend was about one third of the cost of the paid promotion with Wall Street Investor News.
How about some facts to prove one, that SRGE has any mining concessions and if they do they are worth $9 billion - the value keeps increasing by a billion a week.
I have shown that SRGE is not named on any mining concessions - yes, I posted screenshots of the documents from the Mexican government website - that is pretty official.
IG
Got it will do, but was guaranteed to happen 3 weeks ago. Just more of the same - SRGE is a press release and photoshop company that isn't mining in Mexico and that will be proven soon.
Plus, the PR that was very similar to what got SAEI halted will do the same for SRGE - Alex Smid still dealing press releases. LMAO!!
I have the popcorn ready!
IG
We will see, the results will be posted. But, calling Dallas confirms nothing but the phone hasn't been disconnected yet.
IG
How did calling the Dallas number confirm anything - you mean the person on the other end of the phone said, yes we have the mining concessions???
This doesn't seem to verify anything other than the number is working - actually you don't know who you talked to.
IG
Did you take the time to read this document?
The location is Guanajuato SAN LUIS DE LA PAZ, which is 491KM from Jalisco. Cinco minas are located in GUADALAJARA, JALISCO.
Care to explain?
IG
Why do you reference a press release: http://online.wsj.com/article/PR-CO-20120925-913704.html?mod=crnews to show Bandera Gold is not mining in Cinco Minas. Do you really think this press release validates that SRGE is mining in Mexico.
This press release is obviously done by SRGE promoters - why would MSJ use a gmail account???
Why is Minera San Jorge issuing a press release about the ownership of Cinco Minas when they were purchased by Coro Mining Corp and Fabian Gregorio, President of Minera San Jorge is now part of the Coro management team. Instead of a gmail account that the press releases use it would be: fabian.gregorio@coromining.com or info@coromining.com.
Just more of the typical SRGE subterfuge.
IG
We will see - results will be posted either way. Either SRGE has them or they don't but no matter the promoters will spin it - if I get written and verbal confirmation that SRGE is not mining in Mexico.
IG
Then email her for written confirmation that should be easy for you guys who call her all the time.
Post that email I will be interested in seeing it.
IG
Yeah right, just wait there will be a long line of bag holders. Just look at all the other PnD companies. Plus, there is zero verification on anything associated with SRGE.
How about just one fact about SRGE that can be verified - have Tatiana send you a email stating SRGE has mining concessions. I will be waiting!
IG
My question is still the same, why is Southridge not on the Mexican government website?
On all of the documents concerning Cinco Minas there is no mention of SRGE - but Bandera Gold is on every document.
The press release by MSJ are not from the company they are PRs done by the SRGE promotion team. MSJ using a Gmail account - absurd.
Where is the proof from the Ministry of Economy. If you have spoken to them so may times why haven't you posted a email - that is awfully suspicious.
Tell Tatiana to sen you a email confirming that SRGE has the mining concessions.
Just saying you spoke to someone is not proof - record the conversation and post - something that can be verified.
I have posted documents straight from the Mexican government website showing SRGE has zero mining concessions - all you do is say you have spoken to them. Very odd indeed.
IG
How have you proven anything - you have not provided one link to show SRGE has the mining concessions.
All you have done as with all SRGE arguments is say that it is true without providing one FACT - but you never do.
How about all the times you have used MexicoMiningCenter.com (MMC) to validate the mining concessions - it is NOT a government website.
Everything I stated can be proven and I will post each one individually. Such, as the documents straight from the Mexican government website that has all the mining concessions and SRGE has never appeared on the site - FACT.
I love how the SRGE guys think something is proven just by posting it.
Show me one document from the Mexican Government website that shows SRGE is mining in Mexico.
OK, I live in a one-party consent state for recording phone conversations I will call the Ministry of Economy and ask specifically if Southridge has any mining concessions and post the recording (I will first ask my Attorney if there is any problems associated with doing this) this should put a stop to this nonsense once and for all.
How about just one link to prove SRGE is real and mining.
If you go back and look at all of the Southridge Ethanol press releases you will see that from then until today there is not ONE financing company SRGE has in a press release that exists - so you are saying that over 6 companies providing financing to SRGE has no footprint and has not done financing for anyone else. Show me one other public company that has financing from a shadow company that has no proof they exist. Most financing companies want to be publicized so they can have other opportunities for other deals. This is complete bunk about Financing Quixstone Investments, Inc. and Duvernoi Capital Investments Inc - they don't exist. Since you talk to Michael Davies all the time ask him for a phone number and address for them so the financing can be verified.
JUST ONE LINK TO THE MEXICAN GOVERNMENT TO VERIFY SRGE IS MINING IN MEXICO!!!
IG
The shorting is a myth on all pinkies.
The average investor can't or it is extremely difficult to short a penny stock - the margin requirements are just cost prohibitive. You have to have $2.50 margin per share to short a stock under $2.50.
If you want to short 500,000 shares of a stock at $0.004, you have to have $1,250,000 in your account, and 500,000 shares at $0.004 is only $2000.
The good thing is you won't get a margin call unless it gets over $2.50.
Furthermore, One tactic that many stock promoters use over and over again to explain why their stock promotions are followed by large stock price declines is to blame it on the short sellers. Unfortunately, FINRA abets these lies by publishing without adequate explanation data required by the SEC’s Regulation SHO. This data provides information on every share sold each day. Time and and time again I have seen stock promoters use this data to ‘show’ that the stock they are promoting is getting attacked by short sellers.
So the next time a stock promoter links to the FINRA Reg SHO short data to show that a stock dropped because of short sellers, you will know that they are lying. In fact, many times the large block sellers whose shares are sold in such a way to make them show up as ‘short sales’ in the FINRA data are the stock promoters or the people who pay for the stock promotion. So the promoters are not innocently wrong — they lie through their teeth even though they know better.
IG
No, it doesn't appear to be a auto-response but again I don't know which post you are talking about if it was anything other than a screenshot it could be a innocent typo.
I looked at the email to nodummy and I didn't see a misspelling unless I am missing something. I really don't believe that nodummy would doctor a email - she doesn't seem to be that interested in SRGE and she seems to take DD seriously and it would damage her credibility to not just present facts.
IG
giaiv22, I didn't post the information. I am not certain which post you are talking about - I almost always look at who is posting and see if they have a vested interest in posting false information.
That is why screenshots are better - I misspell all the time when typing too fast.
BTW, I took the time to look at the post by nodummy and it looks like Investor is spelled correctly in the email.
But, unless I had a stroke recently and don't remember my posts I don't think I have posted anything about receiving a email from SCCO.
IG
Hmm, OK I guess they might need you to help SRGE explain this to the SEC.
I just have never heard of a company that is always involved with companies that can't be verified - it is just extremely odd.
One maybe and that is a big maybe but not everyone - going back to Southridge Ethanol - not one financing company can be verified.
How about a few examples of other public companies that have financing from companies that have no proof of existence.
IG
I didn't make that post. Two things if I had done it I would have just made a screenshot and it might be that whoever posted it just made a typo.
I don't know - check the screenshot from nodummy and see if it is misspelled there also.
IG
How about SRGE issuing some information about the fake financing company in your post:
European based Investor Duvernoi Capital Investments Inc.
Why don't you provide documentation to show where SRGE owns Cinco Minas?
I know the answer - you can't because Southridge Minerals owns nothing but a copy of Photoshop and a creative writing team.
IG
What do you think my example showed??? You see where this says "PRELIMINARY AGREEMENT"
Item 8.01 Other Information.
On May 23, 2012, GlyEco, Inc., a Nevada corporation (the “Company” or “GlyEco”), entered into a preliminary agreement (the “Preliminary Agreement”) with Enviro-Cool, LLC, a Georgia limited liability company engaged in the business of processing glycol and located in Norcross, Georgia (“Enviro-Cool”).
You have to be kidding! He is the one who guaranteed a uplisting and a Goldcorp buyout 3 weeks ago. How is that working out?
He stated that Goldcorp had already looked at SRGE and was going to buy. When that was proven false all of the sudden there was SCCO buying SRGE.
He is the one who produced fake documents for the mining concessions - when I took the numbers from the front of his documents and used them on the Ministry of Economy site it shows Bandera Gold has the concessions.
All he does is predict when a fake press release is coming out. Or when one of the SRGE lies gets exposed he predicts great news and then we have a over the top press release.
You figure it out.
IG
Come on give me a break, you do know you referenced a SRGE press release? So, if SRGE says it in a press release it must be true???
Please post a real source with the Mexican government to verify this claim.
IG
You couldn't be more wrong. According to the SEC you have to file a 8-K if, "If the registrant has entered into a material definitive agreement not made in the ordinary course of business"
When do you consider a $600 million deal where "One of the firms has already signed preliminary documents for the full acquisition of the Cinco Minas property." normal course of business.
Here is a example:
Item 8.01 Other Information.
On May 23, 2012, GlyEco, Inc., a Nevada corporation (the “Company” or “GlyEco”), entered into a preliminary agreement (the “Preliminary Agreement”) with Enviro-Cool, LLC, a Georgia limited liability company engaged in the business of processing glycol and located in Norcross, Georgia (“Enviro-Cool”).
I am curious as to how Southern Copper is going to buy SRGE when they have no mining concessions.
It is very odd that Southridge doesn't show up on any Mexican government websites as having any presence in Mexico. It is a very tough sale when you don't own anything!
Take a look at the document from the http://www.sgm.gob.mx (official Mexican Government site for mining).
IG
When you don't have a answer it is always good to have your always faithful fallback of it's all NITE's fault and NITE is going to pay. LMAO!!!
IG
More problems with SRGE Press Releases (Why can't SRGE ever do things the right way???) On Sep 19, 2012 they issued a press release about a Bonanza grade intercept:
Assay results from the first six drill holes at Cinco Minas have indicated bonanza-grade silver with an average of 648 g/t (Ag) and high-grade gold of 268 g/t (Au)
Just another SRGE press release. Check out the Mexican Government website and Lo and Behold Southridge is nowhere to be found.
Here you go http://economia.gob.mx/files/comunidad_negocios/informacion_sectorial/mineria/ProyectosMinerosCompaniasCapitalExtranjero-2012.pdf
Check it out Southridge isn't listed but Bandera is listed as mining Cinco Minas.
Actually, Southridge has never been listed as having any mining concessions anywhere. Proof the documents presented on this site are fraudulent.
It is odd that when you check any facts presented here or in press releases falls apart upon inspection. There has been nothing about SRGE that has been verified.
From the Phantom CEO Michael Davies who only appears in a one sentence Linkedin profile page - nowhere else. To the Fake financing companies that are only found on SRGE press releases. Same MO as SAEI and Alex Smid (who is still behind the SRGE deal).
How many RED FLAGS do you need before you realize that SRGE is a complete and total SCAM.
IG
Sorry Dawg, but on WSIN (read the disclaimer - Heck I will post it for you) was paid $50,000 to do a promotion for SRGE. OH NO - I-Glow did it Again!!!
This profile is not without bias, and is a paid release. To comply with Section 17(b) of the Securities Act of 1933, WSICI is disclosing that the company has been compensated for dissemination of this information on behalf of one or more of the companies mentioned in this release. For current services performed for Southridge Enterprises Inc. (SRGE:PINKSHEETS), WSICI has been compensated Fifty Thousand Dollars ($50,000.00), by third party Cameroon Marketing Advisors Inc., who is a non-affiliated and may hold a significant position in the stock. WSICI holds all of those shares as of this release, but intends to immediately begin selling its shares as this release is being circulated.
Just from the first couple of paragraphs there is misleading information:
Additionally, the Cinco Minas property has a world-class confirmed gold and silver resource of 235,000 oz. gold
I have no idea if the numbers are accurate - but you are the one who used StockPromoters.com to justify that SRGE wasn't doing any promotions. I just pointed out that SRGE was listed.
Also, you know that most companies that do promotions use a third party to pay the promoters. They do this for several reasons - one it circumvents the restricted share sale for company executives.
The guys doing the promotion will sell the shares given to them for compensation and funnel the money back to the insiders.
IG
Again, how do you arrive at $5 billion? There isn't anything close to a feasibility study - no one has done a extensive drilling program to verify the reserves. Oh, I see you are using the Press Releases to do your calculations.
Actually, since they are fantasy numbers (SRGE isn't mining in Mexico) you might as well use any numbers you want to use. LOLOL!!!
IG
You might want to re-think this statement:
Check out http://stockpromoters.com/
Check out the # of newsletters and promotions going on for those!
Up to 95!!!
Notice that SRGE not on that list and never has been.
Terry, I doubt you will rcieve a answer to this problem. It seems the SRGE press release team majored in creative writing and not accounting.
Thanks for dissecting the share structure oversight in the SRGE financial filing.
It will be very interesting to see how the SRGE guys spin this problem.
I was wondering about the last filings in SRGE. In the filings they claimed:
On July 14, 2010, the Company received a notice from Rockridge Capital Holdings Corporation to convert $800,000 of its outstanding loan to the Company and 80,000,000 restricted shares were issued at $.01 per share to retire this portion of the debt
outstanding, per agreement. (Math is correct @$0.01/share $800K = 80M shares)
On August 10, 2011, the Company converted $86,800 of its outstanding debt to Rockridge Capital Holdings Corporation, at their request, and issued 86,800,000 restricted shares at $.01 per share to retire that portion of the debt outstanding, per agreement. (Math is not correct @$0.01/share $86,800 at $0.01 = 8.6M not 86M shares why does SRGE claim 86 Million?)
On November 23, 2010, the Company converted $76,147 of its outstanding debt to Rockridge Capital Holdings Corporation, at their request, and issued 76,147,000 restricted shares at $0.01 per share to retire that portion of the debt outstanding, per agreement. (date is incorrect/out of sequence; Math is not correct @$0.01/share $76K at $0.01 = 7.6M not 76M shares)
On April 10, 2012, the Company converted $82,254 of its outstanding debt to Rockridge Capital Holdings Corporation, at their request, and issued 82,254,000 restricted shares at $.01 per share to retire that portion of the debt outstanding, per agreement.( Math is not correct @$0.01/share $82K at $0.01 is 8.2M not 82M shares.)
On May 21, 2012, the Company converted $74,562 of its outstanding debt to Rockridge Capital Holdings Corporation, at their request, and issued 74,562,000 restricted shares at $.01 per share to retire that portion of the debt outstanding, per agreement.( Math is not correct @$0.01/share $74K at $0.01 is 7.4M not 74M shares.)
The problem here is that SRGE has carefully tried to lay out the use of the share structure and if the share structure issuance to Rockridge is real, the amount of debt conversion is HUGE. Not only huge but the extra money does not show up in their financials. Since the share structure is correct, SRGE has failed to account for over $2 Million in their own quarterly filing.
So why did SRGE use a bad reference all over their filing? It seems like they didn't actually have any control of monies or shares but made up the numbers and did so in massive error.
Many in the Investment community are catching on to the SRGE scam!
If one were to look at the financial reports and press releases of Southridge Enterprises, Inc. one would probably wonder why it's trading below a penny. But if they dig deeper the reasons will become apparent.
On Nov. 22, SRGE closed up 10.84% at $0.0092 with nearly 99 million shares changing hands. This happened after the company issued a press release claiming it was in discussions with "Major NYSE Listed Metal Producers."
In the press release SRGE fails to name any NYSE listed company, but states that it may be selling the Cinco Minas property, and mentions amounts between $550 million and $600 million. SRGE also claims a sale would lead to a $0.20 dividend for shareholders. Then why didn't the price go higher?
There is one simple reason - traders don't trust what SRGE is claiming. The company has been less than perfect with its filings in the past, and although at this time OTCMarkets lists it as "OTC Pink Current" the latest report available is for the quarter ended May 31.
The fact that the legal counsel for SRGE is Carrillo Huettel LLP, doesn't help the company's credibility at all. Carrillo Huettel has been involved with a lot of the ugliest pumps like Sunpeaks Ventures (PINK:SNPK) and HDS International (PINK:HDSI). Carrillo Huettel was investigated by the SEC in connection with a pumper who was suspected of violations of federal securities laws.
Some traders have outright stated that "SRGE is a scam" and there may be some merit to their claims. About an year ago the company made an attempt to convince traders it was the real deal using this video. The problem with it is that it's actually a video that was originally uploaded in 2007 with a few frames edited in to display the SRGE logo. This is hardly a good way to increase credibility.
A company which claims it has close to $2 million in cash should be able to afford filing with the SEC at least. A company which claims to have generated close to a million dollars of revenue and net income of $311 thousand should also be able to pay for someone to audit their reports.
SRGE isn't doing either. Instead it chooses to pump out hyped press releases to lure in investors.
Did you think it might be better if it was in Spanish?
IG
Since you worked on the NYSE and managed over $250 million - how do you know that
the only reason why SRGE is on the threshold list is because a monster has bought every single share of the float, and taken them out of the float
SRGE will be the MONSTER STOCK RUNNER OF 2012. A POSSIBLE 100X BAGGER GOING FROM .005 TO MAYBE 50 CENT A SHARE
GO SRGE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
If you want to think that MMC (MexicoMiningCenter.com) provides any legitimate information more power to you.
The SRGE touts tried to pass MMC as the Mexico Mining Registry for quite some time - but it took about two minutes to shoot that nonsense down.
Please tell me how you came to the conclusion the Mexican government spreadsheet is outdated? It is pretty easy to say it but now let's see you prove it - how about a link!
IG