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Here is an interesting connection to the CEO of SIRG...
Reinstatement of Blackpool Partners on Sunbiz.org. J.Rod Martin, MGRM
http://sunbiz.org/pdf/27059786.pdf
Notice the name of the registered agent.. Joseph I. Emas.
Here is a SEC ruling against Joseph I. Emas for securities fraud.
http://www.sec.gov/litigation/admin/2010/34-61386.pdf
The filings aren't agreed with and most of it is wrong? That is an interesting take on the situation. The filings are the best source of facts period. All of the numbers and transactions come straight from the filings.
The claim made that Rod bought 10 Mil. shares and did not sell is not valid.
In actuality the shares were acquired by 5277 Partners in April 2010...
Item 3. Source and Amount of Funds and Other Consideration.
All of the shares of Common Stock beneficially held by the Reporting Person were acquired in a Asset Purchase Agreement between the Registrant and Medina Property Group, LLc. in April 2010.
http://www.sec.gov/Archives/edgar/data/107696.../sc13d.htm
The agreement is the acqusision of the Chloride copper mine and 5277 Partners received shares in the process. Since Rod is the President of 5277 Partners, he had to file the 13D by SEC regulation. In fact, he has to let it be known every single share that he has voting rights with.
The actual amount of shares acquired was 9,631,400
From the 2011 10-K we also know the following....
He acquired 2,200,000 restricted common shares (not issued) in the first half of 2011 for consulting services with SIRG.
He converted $6858.00 into 2,857,467 in Nov. 2011 from a convertible note between SIRG and Blackpool Partners which Rod was (and still is) also a managing member.
9,631,400 + 2,200,000 + 2,857,467 = 14,688,867 shares that he HAS to claim ownership of as a beneficial holder.
From the 2011 10-K we also know how many shares he owns and claims...
Security Ownership of Management:
J. Rod Martin-CEO and Director (3) 10,587,467 3.1%
(3) Includes 5,057,467 shares which are earned, but have not been issued. These shares are disclosed in this 10-K under Item 12: Shares
Subscribed, Not Issued.
14,688,867 - 10,587,467 = 4,101,400.
So, your claim that he hasn't sold any shares is false since he had to sell 4.1 Million shares. Otherwise the number of shares claimed as a beneficial holder would be 14,688,867.
Seriously? LOL
At the time of that post the WERE downgraded to the pinks. The screenshot proves it. They are obviously back on the QB but it just goes to show what a "fine line" is being walked.
All investors need to be well aware of both the toxic dilution through Asher Enterprises and the fact that SIRG is currently under a DTC Global Lock. Until those issues are gone, the info in the Ibox remains.
I'm still working on finding all of the pieces but here is what I have so far...
Here is Medina on Sunbiz.com.
http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=L10000031239&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=MEDINAPROPERTY&names_filing_type=
Here is a link to a Medina filing on Sunbiz showing Patrick Champney, former CEO of SIRG as being a managing member of Medina.
http://www.sunbiz.org/COR/2010/0728/83101306.Tif (see page 4)
Here is SEC EDGAR archive. Notice the name of the EX-99.1 for Medina filed with the Sierra 8-K.
http://www.sec.gov/Archives/edgar/data/1076966/0001477932-10-000479-index.htm
Not to mention that Medina had a controlling interest of 65% in SIRG...
This "tangled web" is starting to unravel.
Actually, that question is specifically pertinent to Mercator due to the location and distance between the Chloride mine and the Mineral Park mine. The answer to that question is probably the same answer as to why the Chloride Mine (Emerald Isle) has has many failed attempts by previous owners.
Agreed. And if an investor wants to sell here based on posts that provide absolutely no verifiable proof then so be it. Just leaves us with a stronger base.
The latest joke is the claim of the CEO spending $2 million on shares in 2010. He could have bought the property and put it into production himself with no need of SIRG whatsoever with that money.
Again... He didn't sell or couldn't sell? If the shares were issued to him with restriction (as often are) he was stuck with them.
Where are the details of these shares that are being claimed that he purchased at 0.20 PPS?
If he had the money to make that purchase ($2 million) why is funding such a problem now? That would have gone a long way towarad getting the mine going.
Yet another claim that doesn't make any sense!
First and foremost, what makes no sense whatsoever is this...
If the Chloride Copper Mine is a viable asset then...
Why was it purchased by Medina for $360 thousand?
...and...
Why didn't Mercator Minerals, the owner of the large Mineral Park Mine less than a mile away, buy this property? Pic below.
Something just doesn't add up here.
He didn't sell or couldn't sell? If the shares were issued to him with restriction (as often are) he was stuck with them.
I've been looking into that as well. There are some very close ties between the involved parties. I see where Medina listed as is a subsidiary of SIRG. Looking like a lot of stock swaps and inside dealings to me.
One thing that I find interesting is how Medina acquired the mine for $360 thousand and a very short time later SIRG "purchased" 80% interest and now it is being valued at $12 million.
Nobody is claiming that the CEO doesn't hold 10Mil+ shares. That information is disclosed in their filings and is required by law since he is a beneficial holder. The question is on how they were received.
The claim that he personally bought those shares is what needs validation. What can be validated is that 9.7 Mil shares are owned and in the name of 5277 Partners, LLC... a home based business of Martin's. Additionally, many shares have been issued and will be issued from SIRG.
http://sec.gov/Archives/edgar/data/1076966/000110801711000141/sc13d.htm
So the question stands. How did 5277 Partners, LLC receive those shares?
Looks like it is being setup for another dump. I wonder what is in the delayed 10Q that the company doesn't want seen yet.
Interesting timing...
8/15 News
8/15 NT 10-Q - Delay of Quarterly Report
8/16 Pump by GoldPennyStars
8/16 PPS increase on light volume
That makes perfect sense and is what GDSM stated...
I agree and I think we will see more about this soon. GDSM / WSRA just entered the agreement on Tuesday.
SIRG is deeply involved with Asher. Link to a post explaining...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78493485
SIRG was downgraded even if only for a day. Link with pic...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78572104
I don't know what their "Master Plan" is but the MOP being "accepted" is still in question whether or not that means received or approved. The word 'accepted' when used as a verb means received and when used as an adjective means approved. Which form of word is used in the PR?
As far as share ownership... I'm looking into that now and the relationships between the involved parties and how the shares were acquired is getting very interesting. Here is the 13D for anyone interested.
http://www.sec.gov/Archives/edgar/data/1076966/000110801711000139/sc13d.htm
That obviously can't be the case since the filings clearly state how many shares he has and the majority of those were given to him (not purchased).
This was explained in the following post...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78572921
Interesting how news comes out right around the time Asher should have shares to dump. Coincidence?
Actually accept and receive are almost identical.
Definition of ACCEPT
transitive verb
1
a : to receive willingly
So I guess the BLM willingly received the MOP when it was handed to them.
Maybe trying to spike the price for more dilution? How did you like that $42 paint on the tape at close today to claim 'up 33%'? That was just about as much to get excited over as the news.
It is not uncommon for CEOs to be paid based on performance. It is safe to say that once the GoldStar and Azurite claims are in production, the CEO and investors (us) will be well compensated.
Why proceed if it isn't profitable. Profitability has already been determined...
GLTY matey!
Don't worry. There is plenty of time to get up to 4 million shares and probably at a much lower PPS. Asher is nowhere near done with SIRG yet.
That is true. The wording is clever I'll give them that. They might as well have said... "We handed the BLM our MOP today". Not very newsworthy IMO. I guess a fluff PR is better than nothing though. It will be interesting to see if this even brings any volume tomorrow.
Nobody claimed that funding is in place. Even if it were, funding a JV and elimination of debt are two separate issues. What we actually have are investors and partners that are working on the funding phase now.
Who says the CEO and BOD are getting paid? Show me where they are.
The venture will be profitable as soon as production begins. At $1600 per ounce (and soon to be much higher) profitability is easy to achieve with little volume.
The annual totals will be known 1 year from start of production.
There is no toxic financing here. Elimination of debt is not toxic financing.
So was funding and the permits issued at this town meeting?
A production goal is just that.. a goal. In other words it is merely speculation (hopeful / wishful thinking). Submitting something to the BLM guarantees... what?
Here are some questions that investors should ask...
If funding is in place, why do they continue to accept toxic financing notes from Asher Enterprises?
Since there is no revenue, how are the CEO and BOD being paid? (Hint: Asher notes)
How many years will it be before a positive cash flow will come from the Copper Chloride Mine if it ever opens?
Will the toxic financing and dilution continue until the mine is profitable?
Why has the company not publicly and officially announced anything regarding the mine in over 5 months?
Given that the CEO and BOD already approved an A/S increase to 1.5 Billion in Q1 of this year for the issuance of more shares to Asher, even though it got delayed due to NV state law, how much longer until it is increased?
How far will the PPS fall when this happens?
How much more dilution will occur when SIRG triples the amount of shares at their disposal?
No funding, no permits and no communication with its shareholders regarding the mine in over five months now. "Any day now" is when? Ever?
That is not what the filings say. He gets paid whether the mine opens or not. Plus, he did not buy millions of dollars worth of stock but instead was issued millions of shares of stock.
http://quotemedia.10kwizard.com/download.php?ipage=8329330&action=PDF&src=quotemedia&msrc=68a2dcc319463f7fa6367eee2437b37d
Excellent work! Thanks for the info!
All with private investor partner backing.
No doubt! This has set up nicely. Anyone else having trouble getting orders filled at the ask?
Same here! Today would be a great day for news given all of the attention and eyes on GDSM. IMO the the current PPS is an unexpected gift. Ground floor is a great place to be!
Agreed! Things are really starting to heat up around here!