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There is a preponderance of evidence that shows Cinco Minas is abandoned.
http://www.siam.economia.gob.mx/siamweb/security/cargaTarjeta
EG enter 221757.
SUSPENSIÓN DEL USO, GOCE, EXPLOTACIÓN O APROVECHAMIENTO EN LA PRESENTE CONCESIÓN MINERA, MEDIANTE OFICIO SE/421.-6992 DE 16 DE AGOSTO DE 2012, DE LA DIRECCIÓN DE REVISIÓN DE OBLIGACIONES.
Translation:
SUSPENSION use, enjoyment, exploitation or use HEREIN mining concession
Through official SE/421.-6992 OF AUGUST 16, 2012 MANAGEMENT'S REVIEW
OBLIGATIONS
The concessions are under suspension.
The SCCO investors should be asking the following about SRGE.
1. Why did SRGE gag the TA?
2. Why did SRGE go dark almost 2 years ago?
3. Why hasn't SRGE filed with the SEC since 2008?
4. Why hasn't SRGE filed any audited financials in years?
5. Who are the companies providing financing, Quixstone Investments, Inc. and Duvernoi Capital Investments Inc. and why do they just show up in SRGE press releases?
6. Why has the Mathers Research company only done one report and it is for SRGE and it says they have been in business since 2001?
That should be Enoch to get started - OK SRGE guys how about some answers.
IG
PS I didn't get into the fact SRGE has a Phantom CEO that is only found in a one sentence Linkedin profile page - come SRGE guys how about some answers - the SCCO investors want to know!!
Who has confirmed the aerial surveys?
If there is a confirmation then you should also know the name of the company that is doing the survey.
Why is everything about SRGE always non-verifiable information?
Please post the name of the company doing the survey.
It has been confirmed that these low flying aircrafts are indeed performing an airborne magnetic survey on the Cinco Minas and Gran Cabrera - SRGE properties!!!!
So SRGE without any revenue let alone profit pays out a grand total of $15,000 in dividends to entice more gullible investors to lose money.
SRGE paid WSIN $50,000 to do a promotion - $15,000 is a cheap for a promotion.
It is all style and no substance - just another way to hoodwink investors.
IG
How will SRGE spin SCCO buying a abandoned mine? Proof that Cinco Minas is not being mined!
http://www.siam.economia.gob.mx/siamweb/security/cargaTarjeta
EG enter 221757.
SUSPENSIÓN DEL USO, GOCE, EXPLOTACIÓN O APROVECHAMIENTO EN LA PRESENTE CONCESIÓN MINERA, MEDIANTE OFICIO SE/421.-6992 DE 16 DE AGOSTO DE 2012, DE LA DIRECCIÓN DE REVISIÓN DE OBLIGACIONES.
Translation:
SUSPENSION use, enjoyment, exploitation or use HEREIN mining concession
Through official SE/421.-6992 OF AUGUST 16, 2012 MANAGEMENT'S REVIEW
OBLIGATIONS
The concessions are under suspension.
They aren't running a Pump and Dump either - Press Releases everyday - Sierra blog posts, Wall Street Investor News paid campaign. Posts on this board about how you should sell everything you own and buy SRGE stock to become a millionaire next week.
Big difference in the volume when there is a paid promotion going on.
IG
First, the BGL videos showed that Cinco Minas were abandoned - proven true.
Secondly, your only evidence is from a SRGE press release, there are no audited financials. SRGE has filed a audited financial report in years. How have you personally verified SRGE is generating revenue except for selling shares.
SRGE is the company that went dark and has now gagged the TA - does that instill confidence?
IG
Does SCCO know they are buying a company that specializes in Press Releases and Photoshopping and NOT mining - LMAO!!!
How will the SRGE guys spin the fact that siam.economia.gob.mx states Cinco Minas is abandoned?
I know another barrage of posts and press releases - oh, I forgot Sierra will chime in also.
IG
Is that what Sierra or a SRGE press release stated???
SRGE REVENUE BABY! Flowing in like water! Mmmmm gold!
Oh No, another reference to the Sierra blog - what a trusted source of information. Sierra also predicted Microsoft was going to buy TAGG - LOLOL!!! Read the disclaimer!
DISCLAIMER
This blog is for fictional and entertainment purposes only!...All materials presented on this web site are not to be regarded as investment advice and are only offered for fictional and entertainment purposes. The accuracy, information or completeness of the picks posted on this blog is for fictional and entertainment purposes only!... Sierra, Adam and Johnny and all other characters ever mentioned and presented by the publisher in this blog are fictional characters and all posts in the blog should be construed as being for fictional and entertainment purposes only!
Most significant DD to date regarding the SRGE debacle. Excellent work to prove once and for all the huge effort to take advantage of unsuspecting investors that were promised to be millionaires.
Excellent work EarnestDD and Lone Ranger 2!!!
http://www.siam.economia.gob.mx/siamweb/security/cargaTarjeta
EG enter 221757.
Quote:
SUSPENSIÓN DEL USO, GOCE, EXPLOTACIÓN O APROVECHAMIENTO EN LA PRESENTE CONCESIÓN MINERA, MEDIANTE OFICIO SE/421.-6992 DE 16 DE AGOSTO DE 2012, DE LA DIRECCIÓN DE REVISIÓN DE OBLIGACIONES.
Translation:
SUSPENSION use, enjoyment, exploitation or use HEREIN mining concession
Through official SE/421.-6992 OF AUGUST 16, 2012 MANAGEMENT'S REVIEW
OBLIGATIONS
The concessions are under suspension.
Holy Cow, a virtual office doesn't mean there is no physical location!!!! It is basically a mail-drop.
Everything about SRGE is ALWAYS shrouded in mystery - there is nothing that can be verified from the Phantom CEO, to the fake financing companies - truly amazing the amount of deception going on to fleece investors,
IG
Actually, no one knows exactly how many shares SRGE has in the float because the TA has been gagged!
A "Gagged" transfer agent is one which has been instructed by the company they are working for to not release information, such as the share structure. This is NOT a good situation. There is no legitimate reason for a company to gag their TA. It is almost always done to hide dilution.
WOW - SRGE setup a auto-responder - how personal.
IG
There are many assumptions - one you are going off information provided by a company press release that has a shady past. So the quality of information is dubious at best.
You are also assuming you can recover 100% of the gold during processing - that isn't accurate. Goldcorp recovers at best 70% in all of it's Mexican operations.
Also, in a gold mining operation silver is considered a by-product and the recovery process is extremely low.
So, 90,000 grams = 3174 ounces of gold (100% recovery)
If you use 75% it goes to 2380 oz.
If there is a JV you have 1,190 oz of gold which would yield approximately $2,023,425 million REVENUE that doesn't take production costs into account etc.
A couple of things that need to be verified are for a open pit or surface mine 5.0 grams/ton is extremely high grade and much higher than I have seen for any open pit mines in Mexico.
The second thing I would immediately do is check and see if "Rising Star Mining" is a real company and if they are pick up the phone and verify they have entered into a JV with ABOT.
I would verify everything that ABOT issues in a press release.
IG
As usual rangerxlt, you are completely wrong! There is both written and verbal communications from SCCO that states ALL rumors associated about a SRGE buyout are baseless. Spreading baseless, false and misleading rumors to promote a stock is illegal.
The only people that believe the rumor are the newbie and gullible investors. And the SRGE board is full of innocent victims that are going to lose a great deal of money.
The rumor is being spread by those that have a vested interest in promoting the stock. The rumor was started by the FICTIONAL Sierra blog and has not been verified by any legitimate source.
IG
Before the end of the year??? Now that is pretty funny and shows a complete lack of understanding M&A. I guess you didn't read just 3 weeks ago it was guaranteed that not only had Goldcorp looked at SRGE but was buying them - LMAO!!
First, SRGE has been dark since 2008 and has not filed anything audited in many years.
All SCCO knows about SRGE is what has been issued in press releases and the Sierra blog. Yeah, very likely to happen before the end of the year.
The SCCO rumors just started soon after the Goldcorp rumors were shot down. So, a acquisition by a public company is going to happen in 2 months with Thanksgiving and Christmas - sounds good in a SRGE press release. You know in the world of make believe anything can happen. LOLOL!!!
You guys will believe anything!
IG
Only on the SRGE board can you find people still quoting and believing Sierra -
Sierra Told You First_Southridge Enterprises (SRGE)_Look For Official PR Coming Friday or Monday_PPS To Move UP
You can't depreciate a acquisition - you treat it as a whole if it is a capital expense. Your premise that a acquisition is a capital expense is completely wrong.
Your argument would be similar to purchasing a front end loader and breaking out the parts and depreciating the tires, engine, etc separately. Your argument just doesn't make sense when following GAAP.
It is pretty basic accounting. Plus, the rules of filing a 8-K require you to report a M&A separately from a capital expense.
SCCO did not file anything about a acquisition - they will have to file another 8-K if the discussions ever take place. When a Form 8-K is required for asset movement: acquisition or sale.
It is pretty clear that what SCCO filed didn't address any buyouts.
IG
I am curious as to how you know,
considering the lack of "supply" for SRGE shares
The Wikipedia entry does not follow GAAP. It is a mistake to believe everything in Wikipedia. How do you depreciate a acquisition?
Capital expenditure, is the amount a company spends on buying fixed assets, other than as part of acquisitions.
A capital expenditure is for fixed assets and it is not Generally Accepted Accounting Principle to treat them the same as a acquisition.
In the business world no one capitalizes a acquisition - it just doesn't make sense.
From US Gov website:
7. What are capital expenditures?
Capital expenditures include all expenditures during the year for both new and used structures (excluding land) and equipment chargeable to asset accounts for which depreciation amortization accounts are ordinarily maintained.
The new rules relating to Form 8-K disclosures (the “New Rules”) became effective, shortening the time period for required disclosures and requiring disclosure of certain transactions...The New Rules have a number of significant impacts on the reportability and disclosure of mergers and acquisitions transactions.....
Again a capital expenditure is for fixed assets that are depreciated not for Mergers and Acquisitions.
Huge difference and SCCO would have to address a acquisition differently in the 8-K
IG
First you need to know the difference between a fixed asset and a acquisition, obviously it is tough to comprehend. But this is funny, you think a fixed asset is the same as a acquisition. Capital expenditures are depreciated!!!
In terms of accounting, an expense is considered to be a capital expenditure when the asset is a newly purchased capital asset or an investment that improves the useful life of an existing capital asset. If an expense is a capital expenditure, it needs to be capitalized; this requires the company to spread the cost of the expenditure over the useful life of the asset.
Capital Expenses or Expenditures are payments by a business for fixed assets, like buildings and equipment....For tax purposes, capital expenditures are depreciated, under Section 179 of the IRS code
What???
DDK89429, SRGE is Mexican based
How do you know the float is locked?
Float is locked. Very deceiving to say it is not!!
A "Gagged" transfer agent is one which has been instructed by the company they are working for to not release information, such as the share structure. This is NOT a good situation. There is no legitimate reason for a company to gag their TA. It is almost always done to hide dilution.
I will bet a months moratorium on posting - if SRGE opens at a dollar ($1.00) I will not post for a month - if less than $1.00 you will not post for a month.
I will make it 6 months to your one month AND MAKE IT ($0.50)!!!!!
IG
If you want to believe that more power to you but that is not within GAAP or SEC filings.
IG
So I guess you have some photos like you did from the investors tour but forgot to take any of the Phantom CEO. I guess the meeting was video documented like the HUGE groundbreaking ceremony....you SRGE guys are killing me LOLOL!!!
SRGE issues a press release 2 times a week about all the great things happening but they forgot to take photos or video of the construction of the new Mill financed by the fake fiance companies.
Wrong I-Glow! Rocha disagrees!!! lunch with Senator was a success!!!
Acquiring a business is not a capital expenditure it is a acquisition and they are two totally different things. Plus, not only in GAAP but in filing a 8-K they are dealt with differently.
Capital expenditure (capex), is the amount a company spends on buying fixed assets, other than as part of acquisitions.
A capital expenditure either adds a fixed asset unit or increases the value of an existing fixed asset. An example is a new motor for a truck.
Capital expenditure are funds used to acquire or upgrade physical assets such as property, plants and equipment (business combinations and asset deals excluded).
Grego no matter how you cut it CAPEX and acquisitions are different and in 8-K filings they are entered separately.
I think it was more wishful thinking by SRGE investors and trying to validate Sierra's prediction and SRGE's press releases.
If you want to believe they are the same that's cool - but there is not going to be a buyout.
IG
Because the TAGG did a paid promotion by APS. Check GWBU, PRTN and AMWI to name a few.
GWBU went to close to $2 and AMWI went to $1.70. So TAGG didn't do that well compared to some APS past plays.
Sorry to say TAGG is gone and won't recover.
You need to read about APS (Awesome Penny Stocks) and learn how to play them - take profits and never believe anything they write - it is a paid promotion - it is meant to enrich APS and the company insiders. They feed off of the investors by telling them the stock is going to some ridiculous number and then they start selling.
Many people posting on the iHub boards have a agenda and/or they are paid promoters.
Head over to the DD board Fraud Research board and read up and ask questions. Check out nodummy and a few others they are really good at finding the next APS play.
Just remember most of the penny stock newsletters are paid to promote a stock.
IG
WRONG Again dolmo!!! My guess is that there wasn't a thorough reading of the definition of Capital Expenditure. You stated:
Why don't you go look up the definition of "capital expenditure." No matter where you look, the term "acquire assets" is featured prominently.
CAPEX are used by a company to acquire or upgrade physical assets such as equipment, property, or industrial buildings
No matter where you look, the term "acquire assets" is featured prominently.
Huh?
but....but....MSFT buyout....$1.00 coming....wtf happened here?
DISCLAIMER
This blog is for fictional and entertainment purposes only!...All materials presented on this web site are not to be regarded as investment advice and are only offered for fictional and entertainment purposes. The accuracy, information or completeness of the picks posted on this blog is for fictional and entertainment purposes only!... Sierra, Adam and Johnny and all other characters ever mentioned and presented by the publisher in this blog are fictional characters and all posts in the blog should be construed as being for fictional and entertainment purposes only!
Earlier today I predicted a SRGE press release this weekend or a post on the Sierra blog with great news. Guess what it didn't take long for this nonsense to show up. SRGE is just too predictable:
WOW! WOW! WOW! $SRGE MAKING MINING HISTORY! STAY TUNED SRGE LONGS!!!$$$
I get a good laugh every time I see Sierra quoted.
sierra predicted a buyout of 2.50 per share-just wait for it-its all good with srge-just believe and think positive
DISCLAIMER
This blog is for fictional and entertainment purposes only!...All materials presented on this web site are not to be regarded as investment advice and are only offered for fictional and entertainment purposes. The accuracy, information or completeness of the picks posted on this blog is for fictional and entertainment purposes only!... Sierra, Adam and Johnny and all other characters ever mentioned and presented by the publisher in this blog are fictional characters and all posts in the blog should be construed as being for fictional and entertainment purposes only!
I hope you aren't serious thinking a SRGE press release adds any legitimacy to a buyout rumor:
SRGE put an official PR saying is negotiating with TWO NYSE companies.
I hope you are joking - NO PROOF???
NO Proof of ANY kind that SRGE is a scam
WOW WOW WOW - this is a HUGE surprise - I just posted that BIG news would be coming this weekend from a SRGE via press release or the Sierra Blog.
And like clockwork lo and behold - here it is.
SRGE is so predictable and yes, still a scam!
IG
It is very odd with all the HUGE GREAT NEWS this week about a NYSE partner/buyout the investment community gave a collective yawn.
You know why - all the savvy investors know the SRGE dog is just another pump and dump with the same people behind that did SAEI and all the other scams involving Alex Smid.
I bet there is one heck of a press release or blog entry from Sierra over the weekend - guaranteed!
IG
NITE Naked Shorts where are the links to show NITE has been fined - the MM shorting conspiracy theory is on every pump and dump board on iHub. It is what the promoters tell you to hide the fact the stock is garbage.
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........ 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.
And certainly not SRGE - unless anyone is still listening to Sierra about the big buyout LOLOL!!!
Not many pinks get buy out or JV offers from NYSE companies either!!!