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ALZM - That toxic financing agreement with Centurion Private Equity, LLC means nothing unless ALZM files an S-1 and gets the S-1 approved by the SEC.
So far ALZM has not filed an S-1 to register the shares to sell in that toxic financing agreement.
Anybody that is truly long on ALZM better hope that ALZM never does the S-1 filing because if they do end up following through with filing the S-1 and it does get approved, Centurion will get to dilute discounted free trading shares into the market killing the share price and since Jan and Hipple (Healthcare of Today) have it written into their agreement with ALZM that they will always get to own 60% of the outstanding shares that means that for every share Centurion would get issued at a discount to dump into the market, Jan and Hipple will get a share also causing the outstanding share count to grow twice as fast.
ALZM already has toxic debt Notes out with Asher Enterprises Inc and Crystal Falls Investments, LLC. ALZM already has $2,326,940 in debt Notes total - $499,072 of which is past due. A good portion of those debt Notes will get to convert into common shares at less than half of the market price. Some may get converted during this recent pump&dump. Bottom line is that the ALZM share price has a lot going against it in the future.
Revenues since inception - $0
Losses since inception - $28,096,219
IMDS been diluting a ton
They've been stealing their employee's social security contributions to keep the doors open. Over a million dollars worth.
social security taxes are the property of the employees. Using social security money for the business is considered THEFT. It's a sure be you will see the Grables do time.
They also have 5 figure local tax liens against the company.
Desperation by the Grables
http://www.sec.gov/Archives/edgar/data/790652/000079065211000042/form10-q_093011.htm
""
As of September 30, 2011, we owe $136,576 in accrued wages and $1,295,496 in accrued payroll taxes. The $1,295,496 in accrued payroll taxes represents unfunded payroll taxes, interest and penalties for the last seven quarters commencing with the quarter ending March 31, 2010. The reason we incurred the penalties and interest was due to the difficulty in raising capital to have sufficient funds to pay the taxes.""
""NOTE 16 – SUBSEQUENT EVENTS - UNAUDITED
In October 2011, we received $67,000 from Southridge pursuant to a short-term promissory note of which the principal on the note was $100,000. The note provides for a $33,000 original issue discount. The note provided for a redemption premium of 15% of the principal amount on or before January 12, 2012. Interest will accrue at 8% per annum until maturity above and beyond the premium. Southridge may elect at an Event of Default to convert any part or all of the $100,000 Principal Amount of the Notes plus accrued interest into shares of our common stock at a conversion price equal to the lesser of (a) $0.0075 or (b) 70% of the average of the three lowest closing bid prices during the 10 trading days immediately prior to the date of the conversion notice.
In October 2011, we received $67,000 from Southridge pursuant to a short-term promissory note of which the principal on the note was $100,000. The note provides for a $33,000 original issue discount. The note provided for a redemption premium of 15% of the principal amount on or before January 26, 2012. Interest will accrue at 8% per annum until maturity above and beyond the premium. Southridge may elect at an Event of Default to convert any part or all of the $100,000 Principal Amount of the Notes plus accrued interest into shares of our common stock at a conversion price equal to the lesser of (a) $0.005 or (b) 70% of the average of the three lowest closing bid prices during the 10 trading days immediately prior to the date of the conversion notice.
19
10-Q Table of Contents
In October 2011, we received $32,250 from JMJ after deduction of $2,750 for a 7% Finder’s Fee. This third tranche of $35,000 is from the Convertible Promissory Note Agreement we entered into with JMJ on February 23, 2011.
In October 2011, we received $78,500 from Asher Enterprises pursuant to a short-term promissory note due on or before July 26, 2012. Interest will accrue at 8% per annum until maturity above and beyond the premium. Asher Enterprises may elect at an Event of Default to convert any part or all of the $78,500 Principal Amount of the Note plus accrued interest into shares of our common stock at a conversion price equal to 58% of the average of the three lowest closing bid prices during the 10 trading days immediately prior to the date of the conversion notice.
On October 12, 2011, JMJ executed a debt to equity conversion of $36,750 in principal of the first tranche of $300,000 which we closed on February 24, 2011. We issued JMJ 5,000,000 common shares pursuant to Rule 144 based on a conversion price of $0.00735 per share. As of the date of this report, we now owe JMJ a total of $172,028 of which $107,528 is principal, $37,500 is consideration and $27,000 is interest associated with this first tranche.
On October 13, 2011, Southridge executed a debt to equity conversion of a $100,000 short-term promissory note dated April 14, 2011 plus accrued interest of $3,989. We issued Southridge 20,797,808 common shares pursuant to Rule 144 based on an agreed conversion price of $0.005 per share. We still owe Southridge $15,000 in premium associated with this note.
On November 3, 2011, Southridge executed a debt to equity conversion of a $65,000 short-term promissory note dated April 26, 2011 plus accrued interest of $2,721. We issued Southridge 13,544,219 common shares pursuant to Rule 144 based on an agreed conversion price of $0.005 per share. We still owe Southridge $15,000 in premium associated with this note.
As of the date of this report, we owe a total of $2,203,201 of short term debt of which $1,501,000 is principal, $688,724 is accrued premium and $13,477 is accrued interest. Thirteen promissory notes totaling $80,000 in principal have been extended to November 30, 2011; five promissory notes totaling $457,500 in principal have a maturity date of December 31, 2011; one promissory note with $100,000 in principal has a maturity date of January 12, 2012; one promissory note with $100,000 in principal has a maturity date of January 26, 2012; five promissory notes totaling $575,000 in principal have a maturity date of November 30, 2011; one promissory note with $60,000 in principal from a private investor has a maturity date of November 30, 2011; one promissory note with $50,000 in principal has a maturity date of March 1, 2012; one promissory note with $78,500 in principal has a maturity date of July 26, 2012. We have repaid aggregate principal and premium in the amount of $173,376 on these short-term notes and a total of $1,167,000 principal, $255,651 in premium, and $27,471 in interest has been converted into 145,434,239 shares of our common stock of which 51,802,774 shares were collateral shares and 93,631,465 new shares were issued pursuant to Rule 144. Out of the original 55,363,637 shares of common stock held as collateral, a balance of 3,561,133 shares remains on the $475,000 principal of the remaining notes.
As of the date of this report, we owe JMJ a total of $336,053 in long-term debt of which $242,528 is principal, $54,375 is consideration on the principal and $39,150 is interest.""
Not every toxic Note holder has an easily recognizable name like Asher Enterprises Inc or Lionheart Associates LLC or JMJ Financial or Tangiers Investors LP or NIR Group. Sometimes it is the insiders of the company (former officers/directors, current officers/directors, friends and relatives of former or current officers/directors, etc) that set up toxic convertible debt Notes for their own self enrichment.
This is especially true on pink sheet stocks where there is no transparency and the note holder is not identified.
E-Lionheart/Fairhills Capital had toxic debt in a lot of the same companies as TJ Management who was named in SEC litigation recently too.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78730664
Glad to see them focusing in on the dirty toxic penny stock financiers.
Here is the E-Lionheart/Fairhills Capital litigation and news release
http://sec.gov/litigation/complaints/2012/comp-pr2012-165.pdf
http://www.sec.gov/news/press/2012/2012-165.htm
Some information out there suggests that Big Apple Consulting was fronting for Edward Bronson on some tickers.
There are firms much worse than Asher.
Information and discussion about Big Apple Consulting, USA (BAC) and public companies that have been or are clients of BAC or its affiliated entities, which include:
Big Apple Consulting, USA
Big Apple Equities
Boost Marketing, LLC
Double Diamond Investments
Jackpot Business Specialists
Management Solutions International
MJMM Investments, LLC
Twin Equities, LLC
List of Former and Current Client Companies (not complete)
AFAI - AFA Music Group, Inc. (now TDEY)
APRU - Apple Rush Company, Inc. (PK Limited Info - $.0001)
AQLV - Aqualiv Technologies (formerly IFRS) (OTCQB)
ARTS - Artfest International, Inc (SEC suspension, gray market, caveat emptor, non DTC-eligible)
ASTR - Astralis, Ltd. (revoked)
AUTQ - Auto-Q International Inc. (defunct)
AVLN - Avalon Technology Group, Inc. (revoked)
BPWI - Big Apple Worldwide, Inc. (also formerly BPWW, now FUSR)
CKYS - Cyberkey Solutions (grey market -- former CEO serving over 8 years for fraud)
CLDR - Cloud Centric Systems (formerly GESM) (gray market, DTC Global Lock)
CLDZ - Cloud Technologies, Inc. (gray market, caveat emptor)
CMSI - Corporate Mortgage Solutions, Inc. (became BPWI then FUSR)
CNSO - Casino Players, Inc. (now MMMS)
CNTL - Centale, Inc. (defunct)
CTYX - Connectyx Technologies Holdings Group, Inc. (PK current info)
GESM - GuestMetrics, Inc. (now CLDR)
EIGH - 8000 Incorporated (gray market, caveat emptor, non DTC-eligible)
EPMI - Epic Media, Inc. (defunct)
ERUC - ER Urgent Care Holdings, Inc. (bankruptcy filed)
ETGG - EnerBrite Technologies Group, Inc. (fka ETGU)
EREX - E-Rex, Inc. (defunct)
EVSY - Evans Systems, Inc. (now WTCT)
FLNA - FuelNation, Inc. (SEC suspension, grey market)
FUSR - Fusion Restaurant Group, Inc. (formerly BPWW - grey market)
GOSY - GeckoSystems (PK current information - may have back out of BAC contract)
GRBG - Greenbridge Industries, Inc. (PK no info, Caveat Emptor, default NV SOS, non DTC FAST eligible, website dead, no contact info)
GRBT - Greenbridge Technologies, Inc. (PK no information, Caveat Empt non DTC-eligible)
HISC - Homeland Integrated Security Systems, Inc. (defunct)
HMWM - HumWare Media Corporation (now EFTB)
IFRS - Infrared Systems International Inc. (now AQLV)
IGTP - Intelligent Sports, Inc. (defunct)
IJJP - IJJ Corporation (PK no info - diluted to no-bid, 1 to 1000 R/S, then diluted to no-bid again)
IVGA - Invicta Group, Inc. (defunct)
MAEI - Made in America Entertainment, Inc. (formerly RVNM) (PK no info)
MMMS - Medytox Solutions Inc. (formerly CNSO)
MTIZ - Metiscan Inc. (defunct)
MTPR - Metapower International Inc, (fka MTPW - Metapower) (PK limited info)
NUER - NuEnergy Group Inc. (now RSII)
PBHG - PBS Holding, Inc. (PK no info)
PHMB - PharmaCom BioVet, Inc. (PK no info, caveat emptor)
PKPL - Park Place Energy Corp. (OTCQB)
PLNIQ - Plasticon International, Inc. (revoked)
PRPG - PRG Group, Inc. (revoked)
PRPM - Protek Capital (formerly ProPalms, Inc.) (PK no information)
RPPR - Aquastar Holdings, Inc. (now SUTI)
RSII - Rising India Inc. (formerly NUER) (PK current info)
RVNM - Ravenmoon Entertainment (now MAEI)
SDVI - Signature Devices, Inc. (PK, no information)
SMAS - Somatics Systems, Inc. (grey market, caveat emptor)
SNDY - Solos Endoscopy, Inc. (PK current info) Multiple reverse splits, current client of Boost Marketing
SSPT - Shot Spirits Corporation (PK no information, default NV SOS, website dead, non DTC FAST-eligible)
SUTI - SUTIMCo International, Inc. (formerly RPPR) (PK current info) Reverse split 11/2011, current client of Boost Marketing
TBLU - Telcoblue (revoked)
TDEY - 3D Eye Solutions, Inc. (Chairman is Marc Jablon -- a principal of BAC) (PK current info)
TMMG - TM Media Group, Inc. (grey market, caveat emptor)
UPZS - Unique Pizza and Subs Corporation (PK, current info, multiple reverse splits)
UNQT - Union Equity, Inc. (PK current info)
VPLM - Voip-Pal.com Inc. (PK current info)
WTCT - Watchit Technologies Inc. (formerly EVSY) (PK limited info, non DTC-eligible)
Company executives who hired or otherwise chose to work with Big Apple Consulting or its Affiliates:
Ken Allen, (MTPR)
Steven Aronstein (SMAS)
Brian Barrett, (GESM and SSPT)
Leonard Baxter (GRBT)
Steven Scott Brown (ETGG)
Jonathan Bryant (EIGH)
Robert Corr, (APRU)
David Gubb (GRBG and UNQT)
Owen Richard Dukes (PRPM)
Joseph Fahoome (CNSO, MMMS)
William G. Forhan (CNSO, IVGA, MMMS)
Edward Patrick Herbert (ETGG)
John Huemoeller II (HMWM)
Kenneth L. Hurley (SDVI)
Marc Jablon (BPWI, CMSI, TDEY) (Principal of BAC)
Neil Jablon (BPWI, CMSI)
Thomas Kelly (EIGH)
Malcom Lennie (RPPR, SUTI)
David Lovatt (CLDZ, IJJP and CLDR) He was also CEO of ENTS and is currently COO of DNAD.
Frank Moody (EVSY, HISC and WTCT)
Gary Musselman (HISC and WTCT)
Uma Pandey, (PRPG)
James E. Plant (CKYS) (In prison for 8 years for criminal fraud)
Clifford Pope, (IJJP) (Hired Boost Marketing after decimating IJJP stock via BAC)
Brian Riley, (GRBT, HISC and WTCT)
Chris Salmonson (FLNA) (In prison for 20 years for criminal fraud)
Fred Schiemann (SNDY)
Ronn Schuman (CTYX)
Jeffrey M. Smuda (PHMB)
Mark Solomon (ERUC)
Paul Spetch (AUTQ)
R. M. Spencer (GOSY)
Jack L. Stapelton (ETGG)
Dan Tartaglia (TMMG)
Bert Trentham (RPPR, SUTI)
James Turek (PLNIQ and TBLU) (Convicted of criminal fraud by DOJ -- awaiting sentencing. Was sued by and settled with the SEC for fraud)
Edward Vakser (ARTS, PBHG)
William White (GRBG, GRBT) (Also worked for EESO and had dealings with SPNGQ). (Hired Boost Marketing for GRBG after previously decimating the stock via BAC)
Don Wood (WTCT and GRBG)
Steven Woodell (UNQT)
Robert Zysblatt (PRPM)
Attorneys favored by BAC clients:
Christopher Davies (SSPT and ....)
Carl Duncan (BPWI, CLDR, EIGH, FUSR, GRBG and ....)
Brian F. Faulkner (GRBG, PBHG, SNDY, SUTI and ...)
John B. Frohling (ERUC and ...) - Prohibited Service Provider
Kimberly Rudge (formerly Kimberly Graus) (ETGG, GRBG, IJJP, PRPM, UNQT and ...)
J. Bennet Grocock/The Business Law Group (AUTQ, CKYS, CLDZ, EPMI, EREX, IVGA, MAEI, RVNM, SDVI and ...) - Suspended from SEC practice
Guy M. Jean-Pierre (CLDR, GRBG, IJJP, SSPT and ...) - Prohibited Service Provider
David Popper, (FLNA, RVNM, TMMG, WTCT and ...)
Manly, P.A. (WTCT)
Accountants favored by BAC clients:
Thomas, Zurcher & White, P.A. (CLDR, GRBG, TDEY, UNQT and ...)
Transfer Agents used by BAC clients:
Action Stock Transfer Corporation (UNQT has moved to)
Bay City Transfer Agency and Registrar (WTCT)
Compushare Transfer Corporation (ETGG)
Continental Stock Transfer & Trust Co. (FLNA, GOSY)
Corporate Stock Transfer Inc. (MTPR, PHMB)
Interwest Stock Transfer Co. (CLDR, CTYX, SUTI, UNQT)
Island Transer Agency (APRU, ARTS, PBHG, SDVI)
Holladay Stock Transfer (CLDZ. MMMS, UPZS)
National Stock Transfer (CKYS) - SEC Action in process
Olde Monmouth Stock Transfer Co. (ETGG)
Pacific Stock Transfer Co. (CLDR, MAEI, PRPM, RVNM, SNDY, TDEY) -- Owned by Joseph Meuse
Signature Stock Transfer Inc. (BPWI, EIGH, FUSR, NEUR, PRPG, RSII, SMAS)
Standard Registrar and Transfer Co. (GRBG)
Transfer Online (ERUC, GRBT, IJJP)
Colorado Goldfields Wins Permit for Its Pride of the West Gold Mill From the State of Colorado With Projected 5-Year Gross Revenue of $200,000,000
Board of Directors Declares a 5000:1 Reverse Stock Split
LAKEWOOD, CO--(Marketwire -08/21/12)- Colorado Goldfields Inc. (CGFIA) (CGFIA) announces that the Company has received approval of its Reclamation Permit Amendment (AM-03) Application for the Company's Pride of the West Mill.
The Pride of the West Mill, near Silverton, Colorado is located within the famous "San Juan Triangle" mining center of southwestern Colorado, which also includes the historic mining towns of Telluride and Ouray, and encompasses one of the most richly mineralized areas of North America. The mill has the capability to process five metals: gold, silver, copper, lead, and zinc. The mill has an ultimate capacity of 700 tons per day.
Colorado Goldfields has received over $9 million in preliminary purchase orders for toll gold/silver ore milling in advance of the permit process completion from gold/silver ore mines in the area, including: The Silver Wing, Red Arrow, Golden Wonder, and Ruby Trust.
"This event materially transforms the Company. The approval has brought renewed attention to the Company's acquisition plan. Inquiries have already been received from several of the 23 mines within 25 miles of the mill, which have confirmed viable ore concentrations representing an estimated $3 billion worth of metals still in the ground. We believe that the Company is now in a position to access meaningful capital funding on reasonable terms," stated C. Stephen Guyer, CFO of Colorado Goldfields.
Contributing to the design was Bryan Ulrich, P.E., Senior Vice President for Knight Piésold Consulting. Knight Piésold is an international consulting company providing engineering and environmental services for mining, power, water, transportation and construction sectors around the globe. In the late 1980s Mr. Ulrich completed the site investigation, analyses, design and resident engineering for the Sunnyside #3 tailings facility in Silverton, which converted the facility from a cycloned operation to a conventional earth-fill dam and ended much of the dust problem that was previously attributed to the facility.
The Colorado Division of Reclamation, Mining and Safety finalized its decision to approve with conditions on August 9, 2012.
Consistent with the new character of the Company, the Board of Directors has approved a 5,000 for 1 reverse stock split of the Company's Class A Common Stock as of August 21, 2012, and has filed the necessary material to effect the reverse split with FINRA. The Board of Directors believes that the current market price of the Company's Class A Common Stock is impairing its acceptability to certain investors, clearing firms, and other members of the investing public, and has approved the reverse split in anticipation that it could result in a significant improvement in the per share price of the stock.
C. Stephen Guyer, Chief Financial Officer of Colorado Goldfields, stated, "We are effecting a reverse stock split to better align the stock price with the Company's accomplishments and operational objectives. Further, we have performed extensive multi-variate analysis surrounding this action. We believe this transaction will broaden our shareholder base, increase the appeal of the stock to investors, and help facilitate electronic transactions of our stock through DTCC. While reverse splits are sometimes viewed as a negative event, we strongly believe that this split will provide benefits to our shareholders by improving trading accessibility and liquidity, thereby enhancing long-term shareholder value."
Every 5,000 shares of Class A common stock of CGFIA will automatically combine into one share of Class A common stock. The Reverse Split will reduce the number of shares of outstanding Class A common stock from approximately 28.2 billion pre-split to approximately 5.7 million post-split. The number of authorized shares of Class A common stock will be reduced from 35 billion to 7 million. Proportional adjustments will be made to Colorado Goldfields' convertible notes and equity compensation plans. All fractional shares will be rounded up to the nearest whole number. The Reverse Split will not negatively affect any of the rights that accrue to holders of CGFIA common stock or common stock equivalents. The reverse split is not a taxable event to existing stockholders.
"The agency conditions regarding the tailings repository are modest and we expect to complete the additional analysis within 90 days. At the same time work has commenced on other areas of the facility. The future of Colorado Goldfields is bright and our confidence level is high that the Company will become a leader in mining and milling in the state of Colorado," said Lee R. Rice, President and CEO of Colorado Goldfields.
Those were the days before SUGO defaulted on their claim payments and then the BLM maintenance payments and lost everything. SUGO has no assets, just a pile of convertible notes that are being dumped into the market.
FINANCIAL INFORMATION
The Company has entered into an agreement to acquire a mineral property located in the La Paz County, Arizona, and has not yet determined whether this property contains reserves that are economically recoverable.
The recoverability of property expenditures will be dependent upon the discovery of economically recoverable reserves, confirmation of the Company’s interest in the underlying property, the ability of the Company to obtain necessary financing to satisfy the expenditure requirements under the property agreement and upon future profitable production or proceeds from the sale thereof.
GUNP has some serious cash needs coming up.
The Company entered into a mineral property purchase option agreement dated January 21, 2011 and amended on March 9 th , 2011. This agreement was replaced by a new agreement dated January 17, 2012, pursuant to this new agreement the Company plans to acquired a 100% undivided right, title and interest in a mineral claim, located in the La Paz County, Arizona, known as the Dome Rock Property. The effect of the transactions was to preserve the Company’s rights under the old agreement and cash payments required under the old option agreement are still required under the new option agreement, but their due dates were all extended by approximately one year. The Company cannot apply prior payments to the new option agreement. The Option shall be in good standing and exercisable by the Optionee by:
i. Paying the following amounts on or before the dates specified in the following schedule to the Optionor:
1. Paying $40,000 on or before January 17, 2013, the first anniversary of the Agreement;
2. Paying $40,000 on or before January 17, 2014, the second anniversary of the Agreement;
3. Paying $40,000 on or before January 17, 2015, the third anniversary of the Agreement;
4. Paying $50,000 on or before January 17, 2016, the fourth anniversary of the Agreement;
5. Paying $60,000 on or before January 17, 2017, the fifth anniversary of the Agreement;
6. Paying $60,000 on or before January 17, 2018, the sixth anniversary of the Agreement;
7. Paying $60,000 on or before January 17, 2019, the seventh anniversary of the Agreement;
ii. Paying all amounts to keep the property in good standing which includes all annual maintenance fees, exploration and other permits, property taxes, levies, insurance, and other assessments.
The Optionee shall incur the following annual work requirements as defined below and agreed to by the parties for the benefit of the Horizon Property:
1. Exploration expenditures on the property of $750,000 on or before the first anniversary of the execution of the Agreement;
2. Exploration expenditures on the property of $750,000 on or before the second anniversary of the execution of the Agreement;
3. Exploration expenditures on the property of $500,000 on or before the third anniversary of the execution of the Agreement;
Pursuant to Regulation 13A Reports of Issuers of Securities Registered Pursuant to Section 12 (Reg. §240.13a-13 ( c )(2)(i)(ii)), the Company is not required to file Part I - Financial Information for the period ending May 31, 2012 for the following reasons:
a) The registrant is not in the production state but is engaged primarily in the exploration for the development of mineral deposits other than oil, gas or coal; and
b) The registrant has not been in production during the current fiscal year or the two years immediately prior thereto; and
c) The registrant has not received any receipts from the sale of mineral products or from the operations of mineral producing properties.
If their not going to reveal their finances then they might as well be a pink!
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8678769
Just continue to watch SIRG. Many opportunities to buy SIRG at .002 or less were passed on. Smart SIRG investors grabbed those cheap shares and are looking at great profits.
Sorry all those opportunities for a triple were missed.
Every investor knows that it takes money to make money and SIRG will be making money. Just continue to watch! Give SIRG another 60 days and see where it goes!
SIRG Time & Sales Thurs and Fri.
Price Size
$0.0080 100,000
$0.0070 100,000
$0.0071 61,000
$0.0070 39,000
$0.0080 5,002
$0.0040 5,002
$0.0080 5,000
$0.0075 10,000
$0.0075 70,000
$0.0080 1,800
$0.0080 1,800
$0.0070 30,000
$0.0080 10,000
$0.0060 47,000
$0.0060 60,000
$0.0060 210,000
$0.0065 68,000
$0.0065 100,000
$0.0065 650
$0.0071 15,000
$0.0071 35,000
$0.0071 100,000
$0.0060 101,400
$0.0061 5,000
Here's a start for you.
http://kdminer.com/Main.asp?SectionID=1&SubSectionID=1&ArticleID=51761
Also go back and read previous posts by me.
When do you think Hondo will file an 8K telling their shareholders about the 3 Notice of Violations and the effect they will have on their mining operations?
I would think 3 NOVs would be a "Material Event" that requires an 8K to be filed.
And a long weekend it is. SIRG continues to build a strong base at .008.
Glad to see Sept. arrive especially here in southern Arizona although this summer has been very nice.
There is no reason for a SIRG R/S other than to move to a higher exchange and I would have no problem with that.
I have been invested in two companies that were able to accomplish that, one made it to the AMEX, the other the NASDAQ. Both made me huge profits.
SIRG will be making that transformation from "explorer" to "producer" in 2013.
We do not anticipate going into production ourselves but instead anticipate optioning or selling any ore bodies that we may discover to a major mining company.
The "key" word is MAY discover and until TUFF has proven reserves that "may discover" is not worth much. In fact they may discover that there is not enough ore to sustain a profitable mining operation.
Not sure about that $1 but .10 is easily doable. SIRG has a lot of potential and the day the mine goes into production, Michael Rowland goes into action to find an acquisition or JV.
The fact that there are so many BOD members with connections to South America leads me to believe that may be an acquisition target.
SIRG will also be drill testing the area south of the pit and should they prove more ore there that could double the share price quickly.
There is a reason why they want to buy the 90 acres south of the existing claim but until we learn more, we can only guess.
Another factor will be the price of copper and a return to $4 a lb would move the share price quickly.
Grab whatever you can. Once SIRG announces the APP Permit transfer is done and funding details are released SIRG is off to penny land and higher. SIRG will be required to post the Reclamation Bond so there is no reason for SIRG to have hired CDM Smith to get the APP processed if they couldn't provide funds for the bond.
.02 when they start production and then the share price will be based on EPS.
Totally agree and with the APP Permit transfer SIRG can start construction on the new heap leach pad/pond and they can start loading in January/February.
For those unfamiliar with the heap leach pad/pond here is some good info.
Heap leaching is the process to extract precious metals like gold, silver, copper and uranium from their ore by placing them on a pad (a base) in a heap and sprinkling a leaching solvent, such as cyanide or acids, over the heap. This process dissolves the metals and they collect at the bottom of the pad. The metal is then further processed. This methodology is mostly used for low-grade ores, and the basic processing steps involve crushing and sometime grinding.
The stages for heap leaching can be described as:
Ground Preparation and pad construction: Here the soil on a slightly sloping ground is compacted and covered by an impermeable pad (can be made of plastic).
Ore stacking: Then the crushed ore is stacked in the form of big heaps. Amount of fines is decreases as low as possible to improve permeability.
Then the leaching agent such as cyanide or acid is sprayed over the heap.
As, the reagent passes through the heap; the valuable metals get dissolved in it.
The solution containing metal is drained from the heap and collected in a pond and the solution is sent for subsequent process for metal recovery.
Here is an illustration of the process:
The two large tanks visible above store the acid used in the leaching process.
SIRG remains grossly undervalued at $2,684,962. The SX/EQ plant at the mine could not be replaced for that amount.
I prefer to invest in undervalued companies because the share price has so much room to rise. With current fair market value at .034 it's only a matter of time until SIRG get's the attention it deserves.
The word used by Ahron Sherman, the reporter who wrote the article for the Kingman Daily Miner is "expects".
It is not known if he made a tape recording of the meeting as that appears to be the only possible available proof.
Again another false statement.
SIRG's Service Provider on OTC Markets has been changed.
Auditor/Accountant
Marcum LLP
750 Third Ave
New York, NY, 10017
United States
DJ BASE METALS: Copper 3.4257 China Comments and U.S. Data Lift Copper Prices
Aug 30, 2012 By Tatyana Shumsky
--Comex December copper up 1% at $3.4825 a pound
--China Premier says China will continue to buy European debt
--U.S. consumer spending ticks up 0.4% in July
NEW YORK--Copper prices rallied Thursday on Chinese Premier Wen Jiabao's comments expressing confidence in the euro and data showing stronger U.S. consumer spending in July.
Copper for December delivery, the most active contract, was recently up 3.35 cents, or 1%, at $3.4825 a pound on the Comex division of the New York Mercantile Exchange.
China will continue to invest in European government bonds and maintains its confidence in the euro, Chinese Premier Wen said following a meeting with German Chancellor Angela Merkel in Beijing. China will also strengthen talks with the European Central Bank and others in an effort to help the euro zone weather its debt crisis, Mr. Wen said.
Copper traders took comfort in Mr. Wen's comments, sending copper prices higher. China is the world's largest consumer of copper, while Europe as a region is second in line, and concerns about economic growth have kept prices under pressure.
U.S. personal consumption expenditures ticked up 0.4% in July from the prior month, the Commerce Department said Thursday. This was the highest increase in five months and matched economist expectations. Consumer spending accounts for two-thirds of demand in the economy. Income rose 0.3% last month, for the eighth consecutive month of increases.
Copper is widely used in consumer electronics, electrical products and automotive production, and demand for such goods increases when consumer spending is on the rise.
The dollar retreated against the euro, giving copper prices an added boost. Copper futures are traded in dollars and become less expensive for investors who use other currencies when the dollar weakens.
The euro was recently trading at $1.2554, up 0.2% on the day.
Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com
(END) Dow Jones Newswires
08-30-12 0949ET
Copyright (c) 2012 Dow Jones & Company, Inc.
http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS__China_Comments_and_U_S__Data_Lift_Copper_Prices_184640570.htmlDJ BASE METALS: Copper 3.4257 China Comments and U.S. Data Lift Copper Prices
Aug 30, 2012 By Tatyana Shumsky
--Comex December copper up 1% at $3.4825 a pound
--China Premier says China will continue to buy European debt
--U.S. consumer spending ticks up 0.4% in July
NEW YORK--Copper prices rallied Thursday on Chinese Premier Wen Jiabao's comments expressing confidence in the euro and data showing stronger U.S. consumer spending in July.
Copper for December delivery, the most active contract, was recently up 3.35 cents, or 1%, at $3.4825 a pound on the Comex division of the New York Mercantile Exchange.
China will continue to invest in European government bonds and maintains its confidence in the euro, Chinese Premier Wen said following a meeting with German Chancellor Angela Merkel in Beijing. China will also strengthen talks with the European Central Bank and others in an effort to help the euro zone weather its debt crisis, Mr. Wen said.
Copper traders took comfort in Mr. Wen's comments, sending copper prices higher. China is the world's largest consumer of copper, while Europe as a region is second in line, and concerns about economic growth have kept prices under pressure.
U.S. personal consumption expenditures ticked up 0.4% in July from the prior month, the Commerce Department said Thursday. This was the highest increase in five months and matched economist expectations. Consumer spending accounts for two-thirds of demand in the economy. Income rose 0.3% last month, for the eighth consecutive month of increases.
DJ BASE METALS: Copper 3.4257 China Comments and U.S. Data Lift Copper Prices
Aug 30, 2012 By Tatyana Shumsky
--Comex December copper up 1% at $3.4825 a pound
--China Premier says China will continue to buy European debt
--U.S. consumer spending ticks up 0.4% in July
NEW YORK--Copper prices rallied Thursday on Chinese Premier Wen Jiabao's comments expressing confidence in the euro and data showing stronger U.S. consumer spending in July.
Copper for December delivery, the most active contract, was recently up 3.35 cents, or 1%, at $3.4825 a pound on the Comex division of the New York Mercantile Exchange.
China will continue to invest in European government bonds and maintains its confidence in the euro, Chinese Premier Wen said following a meeting with German Chancellor Angela Merkel in Beijing. China will also strengthen talks with the European Central Bank and others in an effort to help the euro zone weather its debt crisis, Mr. Wen said.
Copper traders took comfort in Mr. Wen's comments, sending copper prices higher. China is the world's largest consumer of copper, while Europe as a region is second in line, and concerns about economic growth have kept prices under pressure.
U.S. personal consumption expenditures ticked up 0.4% in July from the prior month, the Commerce Department said Thursday. This was the highest increase in five months and matched economist expectations. Consumer spending accounts for two-thirds of demand in the economy. Income rose 0.3% last month, for the eighth consecutive month of increases.
Copper is widely used in consumer electronics, electrical products and automotive production, and demand for such goods increases when consumer spending is on the rise.
The dollar retreated against the euro, giving copper prices an added boost. Copper futures are traded in dollars and become less expensive for investors who use other currencies when the dollar weakens.
The euro was recently trading at $1.2554, up 0.2% on the day.
Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com
(END) Dow Jones Newswires
08-30-12 0949ET
Copyright (c) 2012 Dow Jones & Company, Inc.
http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS__China_Comments_and_U_S__Data_Lift_Copper_Prices_184640570.html
Copper is widely used in consumer electronics, electrical products and automotive production, and demand for such goods increases when consumer spending is on the rise.
The dollar retreated against the euro, giving copper prices an added boost. Copper futures are traded in dollars and become less expensive for investors who use other currencies when the dollar weakens.
The euro was recently trading at $1.2554, up 0.2% on the day.
Write to Tatyana Shumsky at tatyana.shumsky@dowjones.com
(END) Dow Jones Newswires
08-30-12 0949ET
Copyright (c) 2012 Dow Jones & Company, Inc.
http://futures.tradingcharts.com/news/futures/DJ_BASE_METALS__China_Comments_and_U_S__Data_Lift_Copper_Prices_184640570.html
At the Chloride town hall meeting on June 6, Rod Martin, CEO of SIRG told the BLM agents, town officials and local residents,
SIRG expects to re-open the old Emerald Isle mine and "expects" to be in production in Jan/Feb 2013.
Definition of EXPECT
transitive verb confidently believe something: to believe with confidence, or think it likely, that an event will happen in the future
transitive verb wait for anticipated thing: to wait for, or look forward to, something that is believed to be going to happen
Further equity funding was necessary to hire CDM Smith to process the APP Permit transfer, the last hurdle to getting funds to proceed with the LOI to purchase another 10% of the mine and the additional 90 acres of private land south of the claim.
Again - guess some think Rod just just have given up rather than use equity funding for the remaining expenses. This funding is not toxic unless converted and not due until 2013.
With the APP permit transfer, SIRG will move forward with building the new heap leach pad/pond with a contract already awarded to Desert Construction of Kingmnan, AZ. That will take about 30 days and the Chloride will be ready to begin loading the heap leach pad, thus "production".
Last time I looked we are approaching Sept. with four months remaining to 2013. With the speed that SIRG has been leaping hurdles I have no doubt they will make it.
SIRG is current on all debt obligations and there are no notes due now.
What some consider toxic funding others see as necessary start-up funding. There are over 1,000 start-up companies using equity funding to build their business to profitability.
That production target came from the CEO of SIRG at the meeting in Chloride on June 6th as reported numerous times in the Kingman Daily Miner.
Great - check back in a week or two.
Yes, like any start-up business, SIRG needed money to continue on the road to production. As everyone knows it takes money, expertise and a strong infrastructure to build a successful company. SIRG has that infrastructure, experienced officers, an outstanding BOD and the last addition, a top tier accounting firm.
The biggest event was the MPO approval that SIRG received from BLM in June. The last important permit is the APP.
Aug. 21, 2012 /PRNewswire via COMTEX/ -- Sierra Resource Group, Inc. (OTCQB: SIRG) announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
I guess people expect CDM Smith to work for free and ADEQ to waive their fees or maybe Rod should just say "we're out of money and I throw in the towel".
Makes a lot of sense doesn't it?
Keep watching!
Looks like some research was missed. SIRG is on second base and about to hit a home run with production scheduled for early 2013. SIRG bottomed several times this year when shares were at bargain basement prices of under .0015.
See you have watched SIRG for months, sorry you missed joining us.
SIRG - PROGRESS TO PRODUCTION - 2012
January 2, 2012, Travis Snider is hired by SIRG as VP of Operations at the Chloride Copper mine to begin the process of returning the mine to production. Paul C. Rizzo & Assoc. are hired to assist with the BLM permitting process, design the heap leach pond expansion and re-engineer the pit.
January 25, 2012, representatives of Rizzo Associates completed a site visit of the Chloride Copper Mine. The Rizzo Associates team consisted of Dr. Ananda (Andy) Chakrabarti, Senior Consultant, and K. Michael Cline, Principal Geologist. The purpose of the site visit was to provide an independent assessment of the plant, mill tailings, and general site conditions for supporting the Company in bringing the existing SX/EW Plant at the mine back into full operation. The Plant has been idle since 1996.
On February 21, 2012, Rizzo Associates issued a “Trip Letter Report to Assess Status of the Chloride Copper Mine” to the Company. According to the “Trip Letter Report: “The SX/EW Plant is in good condition; however, in need of minor refurbishment and the replacement of some supporting equipment, but most of the equipment can be used and the Plant can be brought back into working c ondition within a reasonable timeframe and limited expense. ” The Company has not currently defined “reasonable timeframe” or “limited expense.”
“We are extremely pleased to have the Rizzo team working to bring the mine back into production and beginning work to improve the accuracy of our reserve estimate,” says J. Rod Martin Chief Executive Officer of the Company.
On May 2, 2012, the Board of Directors of Sierra Resource Group Inc. by unanimous written consent appointed Barton R. Budman and Carlos F. Cardon to its Board of Directors.
Mr. Budman is a Certified Public Accountant licensed in the state of Florida. Since 2007, Mr. Budman has served as the Chief Financial & Operating Officer for a world renowned mega-yacht manufacturer, chartering company, and real estate investment & development organization, Broward Yacht & Marine / LPI Holdings, LLC with total annual revenue in excess of $135 million. Mr. Budman holds dual BBA degrees in accounting and finance as well as a Masters of Business Administration from the University of Miami.
Mr. Cordon is the Commercial liaison, since 2011, for the development of telecommunications, mining and energy projects between the Chinese Government Foreign Development Agency and the Central American Business Community. Founder and Director of Tacontento International Corp, a chain of Mexican restaurants with more than 20 locations in five countries. Founder and Director, Los Ranchos, Guatemala, 1994-2011, a steak house chain, with more than a dozen location in 4 countries, including several locations in south Florida. Founder and Director, Yogen Fruz, Central America, Central American Franchisee, 1992-2011, Yogen Fruz is a publicly traded Canadian company and one of the largest frozen yogurt franchising companies in the world. Founder and Director, Mayan Republic Brand, Guatemala, 1985-1995, a merchandiser of hand loomed textile clothing exported to the US and Europe.
June 1, 2012 Sierra Resource Group, Inc. ( OTCQB: SIRG) announced today that it plans to launch its new website in June. Sierra engaged Miami based IT firm, Ingenium Solutions, LLC, to design and build the Company's new website, which will feature easy access to the latest Company news, descriptions of the Sierra's mining properties, resource reports and operations, and a separate section for investor information, including direct links to SEC filings and corporate governance policies. Ingenium is a well respected, total service IT firm that will be handling all IT work for Sierra in the future.
"We are very pleased with the design work of the firm, Ingenium Solutions, LLC, and the special attention its President Antonio Manueco gave to the project," said J. Rod Martin, CEO of Sierra.
Mr. Martin added: "Sierra intends to use its website http://www.sierragroupinc.com as a means of disclosing material information and for complying with its disclosure obligations under SEC Regulation FD. Such disclosures will be included on the Company's website under the headings 'Latest News'. Accordingly, investors should monitor such portions of the Company's website, in addition to following the Company's press releases, SEC filings and public conference calls and webcasts."
June 6, 2012 - SIRG hosted a Town Hall meeting in Chloride for the locals, BLM agents and government officials where he announced SIRG's plans to re-open the mine with production planned to start in Jan/Feb.
June 6, 2012, SIRG awarded a contract to Desert Construction of Kingman for the dig/load/haul operations at the Chloride Copper Min.
June 6, 2012, SIRG signed a Letter of Intent (“LOI”) with Upward Investments, LLC (“UI”) for the purchase of UI’s 90 acres of land adjacent to the Company’s existing claims. The Company would like to acquire UI’s property for the Company’s mining operations. Further representations and warranties shall be included in the to be drafted Definitive Agreement.
July 2, 2012 - When countersigned by each of the parties, this Letter of Intent outlines the general terms as of the 2nd day of July, 2012 for the agreement by and between SIERRA RESOURCE GROUP,INC., a Nevada Corporation, hereinafter referred to as (“SIRG”) and MEDINA PROPERTY GROUP, LLC, a limited liability company incorporated in Florida (hereinafter referred to as “MPG”)
It is intended that SIRG and MPG shall, subject to the terms set forth herein and in the “Definitive Agreement”, enter into the following terms regarding the Chloride Copper Mine, in Kingman Arizona:
WHEREAS, MPG is the owner of a 20% interest in The CHLORIDE COPPER MINE, a mining concession which lies approximately 24 km northwest of the City of Kingman, Arizona, and some 100 mi southeast of Las Vegas, or 172 mi northwest of Phoenix, Arizona. The geographic coordinates of the property are 35° 21’ N Latitude and 114° 10’W Longitude (T22 and 23 and R 18).
AND WHEREAS “SIRG” would like to increase its interest ownership of the Chloride Copper mine to 90% interest in the “Chloride Copper Mine”, for development,
NOW THEREFORE, the Parties hereto hereby agree as follows:
I. Upon execution of this Letter of Intent, MPG hereby agrees to:
1.
Provide a good faith non refundable deposit of $6,500 upon the signing of this agreement and on each 1 st of the month up to the closing date. SIRG shall not be responsible for any deposits incurred after the closing date.
2. The parties will diligently and in good faith negotiate a definitive agreement (the “Definitive Agreement”) incorporating the principal terms of the contemplated transaction as set forth herein and, in addition, such other terms and provisions of a more detailed nature as the parties may agree upon. In the Definitive Assignment Agreement, each of SIRG and MPG will make such representations and warranties are customary in transactions of this nature. All representations and warranties will survive the closing of the transactions contemplated herein and any and all investigations at any time made by or on behalf of the parties. The Definitive Agreement shall be completed and executed on or before October 1, 2012 (the “Closing Date”), unless both parties agree to an extension not to exceed 10 days.
3. Certify the Certificate of Ownership, titles and other required information.
4. Provide any and all documentation proving its compliance with the laws governing mining in Arizona and the United States of America.
II. TERMS OF AGREEMENT:
SIRG will pay the sum of $1,500,000 (ONE MILLION FIVE HUNDRED THOUSAND USD) in the following manner:
1. $1,500,000 at closing in the form of a wire transfer to MPG’s assignees or designees.
2. SIRG shall deliver a certificate(s) totaling 20,000,000 shares of Class A Common Stock of SIRG upon signing of a definitive purchase agreement to the assignees of MPG.
3. SIRG shall deliver warrants granting MPG or its assignees the right to purchase 20,000,000 shares of Class A Common Stock of SIRG at an exercise price of $0.27 per share with an expiration date of ten (10) years following the signing of a definitive purchase agreement.
4. MPG shall deliver Deed and Bill of Sale representing 50% of its interest in the Chloride Copper Mine.
July 25, 2012 Sierra Resource Group, Inc. engaged Marcum, LLC (“ Marcum ”) as its new independent registered public accountants , effective July 25, 2012. The decision to change accountants was recommended and approved by the Company’s board of directors. This action effectively releases Tarvaran, Askelson & Company, LLP (“ TAC ”) as the Company’s independent auditor.
8/15/2012 @ 4:05PM SIRG) (the "Company" or "Sierra") announced today that its Mine Plan of Operation has been reviewed and accepted by The Bureau of Land Management. This formal acceptance has allowed Sierra to submit its draft Environmental Assessment in order to comply with the National Environmental Protection Agency. "We're working closely with The Bureau of Land Management and the interactive process is positive," said J. Rod Martin, CEO of Sierra.
Aug 14, 2012 - On or about January 2012, the Depository Trust & Clearing Corporation (“DTC”) suspended post-trade settlement services (known as “Global Lock” or “Chill”) for our securities. Upon our inquiry, the compliance department at the DTC advised us that the Global Lock had been instituted due to their uncertainty about the valid issuance of shares of our company held in street name under their nominee Cede & Co. Our management subsequently provided documentation necessary to lift the Global Lock, and on August 14, 2012, the DTC advised us that they had resumed accepting deposits of the Company’s stock for depository and book-entry transfer services.
Aug. 21, 2012 -- Sierra Resource Group, Inc. announced today that on August 1, 2012 it awarded the transfer and modification of its existing Aquifer Protection Permit to CDM Smith (www.cdmsmith.com) a full service, consulting, engineering, construction, and operations company that guides clients across the project life cycle in water, environment, transportation, energy, and facilities.
"We looked at a host of well qualified companies to handle this very important permit process and feel confident in our selection of CDM Smith," said J. Rod Martin, CEO of Sierra.
CDM Smith will prepare all materials for permit transfer, will prepare the BADCT demonstrations for the new facilities as contemplated by Sierra for future operations, will prepare the Amendment (Modification) Application package and final application for submittal and will fully manage the project to completion including handling all meetings with ADEQ and Sierra.
"CDM Smith is well versed in this type of permitting and its inner team has a wealth of experience in dealing with ADEQ," said J. Rod Martin, Chief Executive Officer of Sierra.
8/23/2012 SIRG announced today that the Depository Trust & Clearing Corporation has advised Sierra that the Depository Trust Company has determined to lift the Deposit Chill on the Company's stock and has resumed accepting deposits of the Company's stock for depository and book-entry transfer services. "We are pleased with this determination and know our shareholders will be too," said J. Rod Martin , CEO of Sierra.
South Africa: mine unrest to affect potential investment
Labor strife returns in South Africa's platinum belt
Mon, Aug 27 2012
Lonmin says violence spreads to eastern operations
Mon, Aug 27 2012
Analysis & Opinion
The U.S. needs to walk the walk on African security
South African equities hit record highs, doomsayers left waiting
PERTH | Thu Aug 30, 2012 1:57am EDT
(Reuters) - A wave of labor unrest and violence in South Africa's mining sector will have an impact on potential investments, the country's resources minister said on Wednesday.
Clashes between police and workers killed 44 people this month and shut ore output at mines run by Lonmin, the world's third largest producer of platinum, a precious metal with industrial uses.
"It is a cause for concern. The tragedy does impact on any potential investments," the South African minister for mineral resources, Susan Shabangu, told reporters on the sidelines of a mining conference in Perth.
"Any investor would like to invest in a stable environment, we've got to recognize that... as government we are committed to make sure what has happened will not happen again."
On Wednesday, South African unions, platinum producer Lonmin and government officials tried to broker a peace accord, but a wage deal may prove elusive, as the resolve of the striking workers is stiffened by the killings.
Returns from mining could not be made at any cost and mining companies have fallen short of providing adequately for their workers, the minister said.
"It's not only Lonmin-- the majority of mining companies in South Africa are not doing well when it comes to the social conditions," Shabangu said.
"The mining companies will have to come to the table, they will have to recognize that as they make higher returns, in turn they must contribute to the well-being of workers," she said.
Mine nationalization could not advance the interests of South Africa, she added.
South Africa's ruling African National Congress (ANC) had been expected to rule on a drive to nationalize the country's mines this year.
But the policy remains unclear although "blanket nationalization" - a sweeping buyout that would cost the state $132 billion - and a windfall tax appear to be off the table.
(Reporting by Rebekah Kebede; Editing by Ed Davies)
They have never produced any gold. The company is and had has been under the control of financial failures for 4 yrs and has no revenue. All fluff.
While we wait for SIRG to get the APP permit transferred, I thought some of you might be interested in learning what they are dealing with and why they hired CDMSmith to handle it. This will explain a lot and help everyone understand that this is not like getting a driver's license!
Plus we all know the speed at which government agencies move!
http://www.azdeq.gov/environ/water/wastewater/download/badctmanual.pdf
I put in an order 15,000 shares at .0075.
08/30/2012 ABMQ4585 BUY SIRGE
QTY : 15000
FILLED : 10000
UNFILLED : 5000
LIMIT : 0.00750
I only got a partial at .0075 so I went for another 5,000 at .008. Watch them yell PAINT JOB!
08/30/2012 ABMQ4669 BUY SIRGE
QTY : 5000
FILLED : 5000
PRICE : 0.00800
2.50 -42.50000
Agree.
I would hope that with modern technology that the SAS Review request would be faxed and the approval faxed back. We know there will not be a problem with SIRG receiving approval to have Marcum as their new accounting firm.
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation.
Ranked among the top 15 firms in the nation, Marcum offers the resources of more than 1,100 professionals, including more than 150 partners, in 23 offices throughout New York, New Jersey, Massachusetts, Connecticut, Pennsylvania, California, Florida, Grand Cayman, China, Hong Kong and Shanghai. The Firm's presence runs deep with full service offices strategically located in major business markets.
Established in 1951, Marcum is a leader with an outstanding reputation at the national and regional levels. Marcum is ranked as one of the largest firms in the New York metropolitan area (Crain's New York Business), the greater Philadelphia region (Philadelphia Business Journal), the New England region (Boston Business Journal) and the Southeast (South Florida Business Journal).
Marcum offers an extensive range of professional services and a high degree of specialization. In addition to traditional accounting, assurance and tax, including domestic and international tax planning and preparation, the Firm's professional services include mergers and acquisition planning, family office services, forensic accounting and litigation support. The Firm has developed several niche practice areas including private equity partnerships; hedge funds; SEC registrants; services for the government, public and not-for-profit sectors; manufacturing; construction; business insurance valuation; healthcare; bankruptcies and receiverships; and a China specialty practice.
I have posted complete details about the SAS Review.
The SEC received the NT on Aug 15th as required. SIRG had 15 days to file the 10Q and it was filed early on Aug. 21st. SIRG was not late.
The problem occurred because SIRG did not know they needed SEC approval to change firms!
In a previous post I stated.
Good morning all,
This may be the last opportunity to load SIRG shares at these sub-penny prices.
The "E" is nothing but another SEC requirement that requires a company to file for an SAS Review to have their new accounting company approved as properly registered.
The "E" will be removed ASAP.
The APP Permit transfer is in the capable hands of CDMSmith and their local Phoenix office who will handle all the filings with ADEQ. Prior to the issuance of the permit, SIRG must provide a bond and show financial responsibility.
I strongly doubt that Rod would be spending the money to hire CDMSmith and proceed with the APP process unless he had funding under control and will be able to provide the bond and prove financial responsibility.
Talks start after deadly Lonmin strike in S. Africa
Managers, unions and workers at the troubled platinum miner Lonmin's (LON:JSE) Marikana mine, started talks with South African government mediators on Wednesday as thousands of miners continued a strike that has left 44 dead.
Only 7.7% of the mine's 28,000 employees showed up for work on Wednesday, almost as low as Tuesday’s 8% turnout.
The Marikana complex has been effectively halted for more than two weeks due to the strike and the fatal incidents that cost the life of workers, policemen and guards. The most shocking violence occurred on Thursday last week when police shot and killed 34 workers.
The situation on the ground was "still peaceful,” Lonmin spokeswoman Sue Vey was quoted as saying by AFP. "I don't expect everyone to work today."
She added today’s talks are a bid to reach a "peace accord" to stop the unrest at the mine and pave the way for negotiations to end the strike that began on August 10.
However, the productivity levels of the mine are unclear. The company says it is attempting to work on a resolution with the remaining miners. South Africa's Department of Labour is also involved and trying to settle the dispute.
Workers, who claim they earn about $475 ($4,000 rand) a month, are demanding a raise to $1,490 (12,500 rand). The London-based platinum company says the workers already earn around $1,200 ($10,000 rand) when bonuses and other compensation are included.
Lonmin’s shares have plunged to the lowest price since 2008, fueled by the dispute and the unexpected loss posted, higher wage and power costs and a worldwide surplus of platinum.
Spot prices for platinum have increased 9% since Aug. 15 as violence idled about a fifth of the world’s platinum- output capacity. Earlier, prices were down 23% in a year as demand slowed for the metal.
Did some more research on the SAS Review because I had never come across it before.
SAS-100 = STATEMENT OF AUDITING STANDARDS 100
http://www.nysscpa.org/cpajournal/2004/204/essentials/p42.htm
SIRG will not have a problem with having Marcum approved.