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Could you please provide the document that shows J. Rod EVER paid that much for 5M shares???
Agreed! MANY investors made a nice chunk of money off of GDSM, and I think GDSM has a good chance of running again in the future. Only time will tell...
I think I will stick with what is provided in the filings. SIRG is obligated by law to provide the facts in the filings with the sec. I have heard so many false statements that were supposedly said by the SIRG higher ups that it makes hear say hard to believe anymore.
I know the most recent anticipated date to speak of was the supposed FONSI date, April 15, 2013. That date has come and gone, and no word on the FONSI. Regardless of if the FONSI date is pushed back or not, the latest the note can come due is October, 15, 2013. If SIRG doesn't pay the note off by then, it's game over time for them.
However, if SIRG fails to file the proper paperwork to push back the due date to reflect any delay in the FONSI date, they very well could lose ownership of the mine on July 15, 2013, as stated.
b. Extension of the May Note and February Note. Sections 1.a.i of both the February Note and the May Note shall be amended as set forth in Exhibit C to state that the Maturity Date is July 15, 2013 or the BLM Extension Date (as defined below), whichever is later. To the extent that the date the Bureau of Land Management (the “ BLM ” ) issues its Finding of No Significant Impact certificate (the “ FONSI Date ”) for the Company (currently scheduled for April 15, 2013) is extended “as a result of the filing of the Deed of Trust” (referenced in Section 4.d. above), the “ BLM Extension Date ” shall be the earlier of (i) three months after such new FONSI Date or (ii) October 15, 2013.
It's a good thing some of the longs don't. Otherwise, everyone would be gone.
"we don't base staying or leaving on if we hit dates or not".
There are notes that have or are coming due. Dilution is the only way they can pay for anything.
Did you notice that the anticipated FONSI date has already come and gone???
the “ FONSI Date ” for the Company (currently scheduled for
April 15, 2013)
Then could you please explain the discrepancy in the number of shares beneficially owned by J. Rod?? The filings have been audited and are assumed to be "fact".
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9223779
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8547623
Perhaps those are some of the shares that he sold??
J. Rod now has 5,530,000 shares of SIRG stock, and in 2011 he owned 10,587,467 shares. It's safe to say that he banked on one of the runs.
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=9223779
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8547623
After last year's run, we know the potential of GDSM.
Actually, what I posted was very correct. Initially, SIRG planned on hiring 30-40 people. Then they reduced the number to 20.
Desert Construction has been awarded a contract to operate the plant, but there will still be between 30-40 jobs available. The process of accepting applications for employment has not begun.
Martin said the company expects to hire up to 40 people to operate the mine site.
Though the company has yet to start officially hiring, Martin said people hoping to find employment with Sierra Resource Group's Chloride Copper Mine should send an email containing their résumé, work experience and salary requirements to info@sierragroupinc.com.
Sierra hopes to start construction in December and have the plant producing copper in January or February.
I sure hope those individuals which were planning on applying for the "40 jobs" didn't have their hopes too high! It's already been 6 months since they announced they would be hiring, and now they don't even anticipate receiving the FONSI until April 15, 2013.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9021095
That's a purely speculative number. I could easily say 80% did, and there is no proof.
I will say, most "smart" investors that play the pink market on a regular basis took some profits along the way.
It does, however, show where a lot of the money some are concerned about went.
Many investors made major green off of GDSM!
All the paid promo companies have to disclose is that they are being paid by a third party, right??? If this is the case, of course you wouldn't be able to connect them to the paid promo. That doesn't mean they aren't connected!
According to the most recent filing, J. Rod only owns 5,530,000 shares of SIRG "beneficially". I guess he sold some shares if he originally owned over 15M shares. I guess even the CEO is selling, that's somewhat humorous.
owns over 15 MILLION shares.
VERT is at the top of the ask and bid on the L2. I wonder which of the financing companies is trying to cash out???
A few things you should know about SIRG
SIRG has completed the following:
1. Increase their A/S to 990M from 440M.
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=Uk5bViH2qqz99jcGYeuYwg%253d%253d&nt7=0
2. Increase the interest rate of the Grand View Ventures Note to 18%.
3. SIRG has filed a deed of trust to Grand View Ventures for their 80% interest in the Chloride Copper mine. If they default, they will lose the mine!
4. Extend their over $330,000 in notes due to Grand View Ventures all of 6 months, they now have just over 5 months until the notes are due. If they default, they lose the mine.
5. Increase the amount they owe Grand View Ventures by $17,500 effective upon signing the forbearance, due to the fact that SIRG is now required to cover the lawyer fees Grand View paid for the forbearance.
6. Take a new note out with Asher Enterprises in the amount of $32,500.
Effective January 10, 2012 the Company has entered into a Forbearance Agreement with Grand View (the “Agreement”). In consideration for entering into the Agreement, the Company has agreed that it shall perform (or agree to the terms of) the following material requirements: (a) the May Note shall bear an 18% interest rate from November 1, 2012 forward, (b) a deed of trust on the Company’s 80% interest in the Chloride Copper Mine shall be filed to secure the February and May Notes , (c) the exercise price associated with Warrants issued in connection with the February and May Notes shall be reset
both the February and May Notes are amended to extend the maturity date of each to July 15, 2013,
C. The Company has failed to pay principal and interest on the May Note at the Maturity Date for the May Note on November 1, 2012. In addition, Holder contends that Company is in default as a result of certain other events as specified in Section 2 below.
a. The Company has not made partial payments on the May Note upon the receipt to the Company of cash receipts as specified by Section 1(c) of the May Note. Specifically, the Company did not pay to Grand View 10% of the gross proceeds from the following borrowings as referenced in the Company’s most recent Form 10-Q:
i. The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with a maturity date of April 19, 2013.
ii. The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with a maturity date of January 31, 2013.
iii. The Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. on October 5, 2012 in the amount of $32,500. The note has an interest rate of 8% with a maturity date of July 10, 2013.
b. The Company has not filed a deed of trust securing the mining claim in the county of Arizona where the mining claims of the Company exist.
c. The Company has allowed certain property to be sold for scrap metal for consideration of $3,710.
d. The Company has not retired the Tangiers promissory note dated October 14, 2011 by July 14, 2012. According to page 13 of the Company’s most recent Form 10-Q, as of September 30, 2012, $15,900 was still outstanding.
e. The Company has not amended its articles of incorporation to increase the authorized Class A Common Shares (the “ Common Shares ”) to one billion shares.
f. The Company has not paid principal and interest on the May Note before, at or after the Maturity Date for the May Note on November 1, 2012.
c. Event of Default — Failure to Make Required Payments. In connection with, and as condition precedent to the extension of the Maturity Dates of the February Note and the May Note detailed in Section 5.b. above, Sections 4 of both the February Note and the May Note shall be amended as set forth in Exhibit C to state that an additional Event of Default shall be “the failure to pay interest or principal when due on any outstanding obligation of the Company (if such outstanding obligation is greater than $10,000) when due including but not limited to the FOGO, Inc. note or any Asher Enterprises, Inc. note, unless such failure is waived in writing by the holder of such obligation. Holder shall be able to rely on the terms of such obligations as provided to Holder previously or any of the Company’s SEC filings to determine when the Company is obligated to make such interest and principal payments and may presume such payments were not made or such obligations were not modified unless and until delivery of reasonable written evidence to Holder to the contrary.”
d. Event of Default — Failure to Pay Claim Maintenance Fees. In connection with, and as condition precedent to the extension of the Maturity Dates of the February Note and the May Note detailed in Section 5.b. above, Sections 4 of both the February Note and the May Note shall be amended as set forth in Exhibit C to state that an additional Event of Default shall be “failure of the Company to pay all 2013 Claim Maintenance Fees associated with the 51 Chloride Copper Mine claims with the BLM and to provide written documentation of such payment to Holder prior to July 1, 2013.”
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with a maturity date of April 19, 2013.
The Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. on October 5, 2012 in the amount of $32,500. The note has an interest rate of 8% with a maturity date of July 10, 2013.
During the three months ended September 30, 2012, a convertible note with a face value $37,500 was converted into 12,212,798 shares of common stock. (0.003pps)
TERMS:
The notes mature nine months from the date of issuance, bear interest at an annual rate of 8%, and are convertible into common stock of the Company at the option of the holder at a conversion rate equal to 51% of the average of the lowest three closing trading prices of the Company’s common stock during the ten trading days immediately preceding the conversion date.
You have that backwards buddy...
The city of Kingman, AZ, the city which the Kingman Daily Miner is published for, has a population of 28,279. Kingman is a fairly small city, and not all of those individuals subscribe to the Daily Miner. Thus, one can only conclude that the number of individuals that read said articles would not have much of an impact overall. I would consider it a fairly small paper. I think that is what he meant by "rinky dink".
Population Kingman, AZ
28,279 - Jul 2011
Source: U.S. Census Bureau
a. The Company has not made partial payments on the May Note upon the receipt to the Company of cash receipts as specified by Section 1(c) of the May Note. Specifically, the Company did not pay to Grand View 10% of the gross proceeds from the following borrowings as referenced in the Company’s most recent Form 10-Q:
i. The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with a maturity date of April 19, 2013.
ii. The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with a maturity date of January 31, 2013.
iii. The Company entered into a Convertible Promissory Note with Asher Enterprises, Inc. on October 5, 2012 in the amount of $32,500. The note has an interest rate of 8% with a maturity date of July 10, 2013.
b. The Company has not filed a deed of trust securing the mining claim in the county of Arizona where the mining claims of the Company exist.
c. The Company has allowed certain property to be sold for scrap metal for consideration of $3,710.
d. The Company has not retired the Tangiers promissory note dated October 14, 2011 by July 14, 2012. According to page 13 of the Company’s most recent Form 10-Q, as of September 30, 2012, $15,900 was still outstanding.
e. The Company has not amended its articles of incorporation to increase the authorized Class A Common Shares (the “Common Shares”) to one billion shares.
f. The Company has not paid principal and interest on the May Note before, at or after the Maturity Date for the May Note on November 1, 2012.
I did not state that selling the property as scrap metal was dilution. I merely pointed out that a portion of their property was sold for scrap metal, and that SIRG didn't use that money to pay back their lenders.
Selling property is far from dilution. What is dilution is giving the TOXIC financing companies millions of shares to satisfy their notes.
One thing is for sure, they didn't use it to pay their financing companies as was required!
When VERT is on the ask, it's typically dilution!
Nice! It looks like GDSM is indeed working on uplisting and even hiring new management!
My question would be, is Jorge Medina even still running/managing Medina Property Group LLC??? In the initial filing to establish the company in 2010 he is listed under Article V as a managing member.
http://sunbiz.org/pdf/50632655.pdf
However, when the company was reinstated on May 1 2012, Jorge Medina was no longer listed as a managing member. Only Xavier Gomez is listed as a managing member of Medina Property Group LLC. Jorge's name isn't even on the document.
http://sunbiz.org/pdf/34380504.pdf
They did not add additional shares of preferred stock via this amendment. Please show me where in the below article that it states they added additional preferred stock above and beyond the 100M that we already knew about? They are stating that the MAXIMUM NUMBER OF PREFERRED SHARES IS 100M.
Article IV: Capital Stock shall be amended to read as follows:
The maximum number of shares that this Corporation shal be authorized and have outstanding at any one time shall be two billion (2,000,000,000) shares of common stock, par value $.01 per share and one hundred million shares (100,000,000) of preferred stock, par value $.0001 per share.
According to the filing, it was property that was sold as scrap metal. That shows that their property/asset was indeed sold for a mere $3,710.
c. The Company has allowed certain property to be sold for scrap metal for consideration of $3,710.
If a company can have a maximum of 100M preferred shares according to an amendment to their articles, they can't possibly have more than 100M shares!!! I don't know what part of that seems to be confusing to some, but a maximum of 100M means they can only have 100M. It's as simple as that!!!
Take a moment and re-read the quote.
What part of a maximum number of 100,000,000 preferred shares is causing confusion? If they are only allowed a MAXIMUM of 100M preferred shares, there can be no additional preferred shares. The previous increase was included in this amendment to their articles of incorporation, yielding the 100M preferred shares previously approved.
Not 101M or 196M, but a MAXIMUM of 100M.
The maximum number of shares that this Corporation shal be authorized and have outstanding at any one time shall be two billion (2,000,000,000) shares of common stock, par value $.01 per share and one hundred million shares (100,000,000) of preferred stock, par value $.0001 per share.
If it existed, it would take nothing to provide it.
The valuation is inaccurate according to my DD, especially after the A/S increase along with the substantial O/S increase over the past year. The value 0.035 is just a meaningless made up number IMO.
I'm not the one claiming a specific valuation of the company. If someone wants to throw a number like 0.035 out there, they should provide the calculations so that potential investors can confirm.
If that were an accurate valuation for SIRG, every current investor would be happy to provide the information. However, nobody is willing to provide any proof. Go figure...
There are only 100M shares of preferred stock, not 196M.
The maximum number of shares that this Corporation shal be authorized and have outstanding at any one time shall be two billion (2,000,000,000) shares of common stock, par value $.01 per share and one hundred million shares (100,000,000) of preferred stock, par value $.0001 per share.
Simply saying "it does exist" without any evidence to confirm such a statement, makes it an empty statement.
Nobody can provide confirmation that it does exist; thus, one must conclude that it indeed does not exist.
If I am wrong, please provide the calculations to confirm the said valuation.
That is what makes some people believe that he is going to take this company in a new direction.