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WRONG AGAIN AND POSTING FALSE AND MISLEADING INFORMATION AGAIN!
Every investor knows that it takes money to start and build a company. Their are no notes overdue and SIRG is current on all debt!
In April 2012 the company laid claim that they turned down funding because it was share holder unfriendley (ie: toxic), however the company was already engaged in toxic (ie: share holder unfriendley) financing the entire time.
Proof please for this false statement!
Here is my proof showing this is a lie.
At its annual meeting of the stockholders on April 21, 2011 a majority of stockholders of the Company approved the Copper Cathode Sale and Purchase Agreement by and between the Company and Harmony Mining Ltd. (“Harmony”). The general terms of the agreement provided Harmony the ability to purchase approximately 5,040,000 lbs of copper cathode at a discount to the current market price and 10,000,000 shares of the Company’s Preferred Stock in exchange for a guaranty by Harmony of a bank credit line of a minimum of $6,000,000.
Effective October 12, 2011 the Copper Cathode Sale and Purchase Agreement was terminated by mutual agreement between the Company and Harmony. All prior terms of the agreement are void and no longer valid. Both parties agreed to mutually release the other without any recourse against the other.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8547623 Page 3!
SIRG NEVER gave a reason for terminating the Harmony funding and it was in Oct of 2011 so YOUR STATEMENT IS AN OUTRIGHT LIE.
In September 2011 the Company engaged Wilcox Professional Services of Phoenix, AZ to provide exploratory drilling and laboratory services with regard to its Tailings Impoundment project (“Tailings”) and then engaged Geological Group Mining & Environmental Consultants, Inc. to review the analyses of Chloride Mine tailings presented in the Certificate of Analysis by ALS Minerals, dated October 13, 2011.
The conclusions, based on the analyses provided by the Wilcox drilling and ALS Mineral Lab Tests, were that there is a resource of approximately 9.9 million pounds of copper and 9.0 million pounds of zinc in the tailings.
It was also recommended that additional test work to confirm the analyses and the recoverable copper and zinc be done. The tailings are the waste product from the previous operation of the Emerald Isle Mine from 1943 to 1973 when copper recovery was much lower than today’s recovery rates.
The primary effort of SIRG is to acquire the necessary funding to bring the Chloride Copper Mine into production in order to generate working capital and profits from its operation.
Now it cost money to have that 3rd party testing done thus the need for more funding. (5 gal buckets of surface material would not be acceptable.)
Why did Rod proceed with the testing after the cancellation of the Harmony funding?
Probable answer: Rod had another potential source of funding lined up but they wanted proof that there was recoverable ore in the tailing piles so to satisfy their request he ordered the testing.
There is gold at the Gold Star - just read Don Jenkins report.
Here we have the Technical Report by Don Jenkins that says so!
Now if he were a licensed/registered geologist - mining engineer, he would display his credentials like this and we would know it was a report that could be trusted to be true.
But no problem, Don Jenkins signed a technical report that there is gold on the Gold Star claim. In fact he states in that report, "the hi-bar ore reserve approximates an in-ground value of $67,000,000 based on the price of gold around $300 per ounce." (2005) P.5.
"The Gold Star Placer Property is one of merit, hosting substantial ore reserves with favorable ore tenor. Gold Star is now ready for full-scale commercial placer operation."
In 2006, a check for $6,631,18 was paid to the Arizona State Land Dept by Pronghorn Mining Group, of Tigard, OR. A Mineral Exploration Lease Approval was issued. A complete cost break down was included.
Pronghorn Mining Group. Inc. - Oregon SOS shows Don Jenkins is the Sec. of this Corp. It was formed on 9/30, 2005 and went inactive in 2007.
http://egov.sos.state.or.us/br/pkg_web_name_srch_inq.show_detl?p_be_rsn=1132143&p_srce=BR_INQ&p_print=FALSE
Read his full BS report here!
http://mccoygoldmines.com/pdf/GoldStar-Technical-Summary.pdf
A copy has been sent to the Arizona Board of Technical Trade showing he performed geologist and engineering work in Arizona while never being registered and signed that report using fake registration numbers.
Now what went wrong with Pronghorn and Gold Star? Why pay $6,631,18 and never proceed with mine development and production.
Why has this "valuable" claim sat idle for over 6 yrs with the price of gold going from $300 per oz to over $2,000? What is wrong here? Why are GDSM and WSRA now jumping to another mine when this one is all ready to go? All the testing has been done by Jenkins so what is the BS about testing again?
I would venture a guess that SIRG is Marcum's only OTC client! Marcum is NOT the normal level of an accounting firm commonly used by OTC companies.
Rod hired Rizzo, an award winning mining engineering firm to deal with BLM and the engineering work for the mine.
Rod hired Desert Construction, the biggest construction firm in the Kingman area.
Rod hired CDMSmith, another award winning international company to handle the APP permit processing.
This is an outstanding infrastructure all working towards the goal of production in 2013.
GEAR's 25 week high is .18 has it been anywhere near that again?
SIRG has been over a .015 twice and that is it's 52 week high.
GEAR hit that .04 around May 20th after a huge paid pump that lasted not even one day. GEAR had the quickest pump & dump I have seen in months.
The problem was that there were so many GEAR investors deep under water and they say their chance to recover some of their money and took it.
There are millions of shares of GEAR that were bought at .02 leaving people with huge losses again. They will repeat the process, live on hope and wait for the next pump.
The dates are the same and correct in SIRG's SEC filings and those are the important ones. FACT: SIRG did a 6/1 F/S in June 2010. If you go back and check the price history it can be seen!
It has clearly been proven that Nevada's records are not correct. SIRG has the stock split dates and information in every their SEC filings.
On December 18, 1998, our shareholders approved a forward split of our common stock at the ratio of one thousand (1,000) shares for every one (1) share of the existing shares. The number of common stock outstanding increased from one thousand eight hundred and sixty (1,860) to one million eight hundred sixty thousand (1,860,000). Prior period information has been restated to reflect the stock split, on a retroactive basis.
On April 28, 2010, pursuant to Section 78.315 of the Nevada Revised Statutes (the “NRS”) and subject to stockholder approval, which approval was attained by written consent in lieu of a meeting of stockholders, pursuant to Section 78.320 of the NRS, from the holder of 8,515,000 shares of our Common Stock (the “Majority Stockholder”), which represented approximately 70% of the total votes outstanding, our Board of Directors unanimously approved an amendment to our Certificate of Incorporation which became effective on June 1, 2010 (the “Amendment”), to: (i) declare a common stock split so that each holder of one (1) share of common stock received an additional five (5) shares or six (6) shares total (the “Split”); and (ii) increase the number of common stock we are authorized to issue from 25,000,000 to 160,000,000 of which 150,000,000 are designated as Common Stock, par value $.001 per share and 10,000,000 are designated as Preferred Stock, par value $.001 per share.
Stock Split
As a result of the Split, each holder of our common stock received five additional shares of common stock for each one (1) share held. The record date and that date such shares were issued was June 25, 2010. The number of common stock outstanding increased from 19,592,000 to 117,552,000.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7865731 page 21
Neither Jenkins nor Stoddard are registered to practice geology or mine engineering in Arizona.
Did you know that even beauticians are required to be registered here?
There is more than adequate proof that they did both while neglecting to register.
The problem is that Jenkins, Stoddard and Chaffee all formed the Arizona Gold Corp. in Florida (trying to hide it) and used it to release reports making it look like an independent 3rd party did the work. The mailing address was the UPS store in the Safeway Center in Prescott. Totally fake company!
Florida Profit Corporation
ARIZONA GOLD CORP.
Filing Information
Document Number P08000057280
FEI/EIN Number NONE
Date Filed 06/11/2008
State FL
Status INACTIVE
Last Event ADMIN DISSOLUTION FOR ANNUAL REPORT
Event Date Filed 09/25/2009
Event Effective Date NONE
Principal Address
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Mailing Address
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Registered Agent Name & Address
SPIEGEL & UTRERA, P.A.
1840 SW 22ND ST.
4TH FLOOR
MIAMI FL 33145 US
Officer/Director Detail
Name & Address
Title PD
JENKINS, DON L
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Title VPSD
LEE, JOHN T
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Title VPD
STODDARD, SCOTT
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Title VD
JENKINS, LARRY
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Title T
MILLER, BONNIE
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Title D
CHAFFEE, MICHAEL
4625 SW 27TH AVE
FT LAUDERDALE FL 33312
Annual Reports
GDSM has been a total failure and let's take a look at the people who were in control of the company and try to learn why.
Jason Cooper had over 31M+ shares, his reward for sitting behind the GDSM desk for a year. They were sold between Jan-Mar. That is a fact as he disappeared as a beneficial shareholder in the 1st quarter Financial Disclosure Statement.
JASON Anthony COOPER & Wife Jessica
1940 SW 74 Ave
Pompano, FL
25 July 1995 – DECLARED INDIGENT
COOPER,JASON
COOPER,JESSICA
COOPER,CYNTHIA
http://205.166.161.12/oncoreV2/showdetails.aspx?id=6770764&rn=0&pi=0&ref=search
25075 / 820
1
1,000.00
92-7455 CJDP
Jason also had troubles with his girl friend/wife?, Anne Pierman Lomont. They ended up in Family Court on 7/24/2008 but the files are sealed.
Federal Tax Lien
Record Date : 4/29/2009 9:05:01 AM
Lienor: UNITED STATES INTERNAL REVENUE SERVICE
Lienee: COOPER,JASON A
Book Type: O
Book / Page: 46178 / 361
On 3/30/2010 10:51:30 AM JPMORGAN MORTGAGE ACQUISITION CORP. won a final judgement on their condo at Parkland Golf & Country Club. Broward Co. Record #46978 / 1575.
http://205.166.161.12/oncoreV2/ShowDetails.aspx?id=48955000&direct=1
SIRG is fully reporting OTCQB - not a pink - huge difference. What is reported to the SEC is what counts. Whatever other sites pick up and add to their info is their problem. SIRG just went through a complete audit to get rid of the chill. I believe everything is now correct in their filings or the chill would not have been lifted.
OTCMarkets - under company info has the share split info correct.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8784707 Page 17
Stock Split
Effective June 1, 2010, we amended our Certificate of Incorporation and declared a six (6) share stock split for each one share of the issued and outstanding shares. Total shares to be issued was six to 1. The record date and that date such shares were issued was June 25, 2010. The number of common stock outstanding increased from 19,592,000 to 117,552,000.
Sloppy bookkeeping by the former accounting company and the CFO. Rod has replaced both.
Clearly he will not tolerate mistakes or poor performance.
Two of the officers owned more shares than were recorded, both less than 100 share mistake and one bought 3,000,000 shares on the open market and failed to file a Form 3.
Did anyone get into the conference call? Was there a conference?
SIRG did a Forward Split - another rare event in OTC stocks over 2 yrs ago so what is your point? The stock split 6/1, the shares were issued - dead issue.
Just proves that Nevada SOS does an extremely poor job of record keeping.
The forward split was included in the Quarterly and Annual filing. I go with SEC before Nevada!
I can't believe Paul Lovito who was charged with fraud and served as the CEO of GDSM with Marc at his side as VP.
This guy should be HOMELESS - or maybe he is! He has the worst financial history I have ever seen and 2 wives never helps the financials. But Fed tax liens, foreclosures, evictions, Capitol One credit card, GM Acc., and the list goes on. The only thing missing is a BK but then I may not be in the right records for that. No wonder he failed to get any funding for GDSM to do the 2 JVs.
Totally pathetic. I would love to find a picture of these guys but they lay low for a reason!
And its not over yet.
Document Type: (FJ) Final Judgment
Record Date : 6/27/2011 11:23:52 AM
From:
BADLOTTO,JOSEPH C
BADLOTTO,FRANCES S
RICETTI,FRANCIS S
To:
LOVITO,PAUL JR
L B I PROPERTIES INC
LBI GROUP INC
BRASS BULLS CORP
https://www.broward.county-taxes.com/public/real_estate/parcels/484108-11-0830
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.
Whatever TDS's problem is - it is not relevant.
It has been a rough year for SIRG as it is for all junior mining companies that are returning closed mines to production. I am following 5 of them right now and SIRG is way out in front! SIRG has dealt with all it's issues - just see how much they accomplished in 2012 along with retiring 3 Asher notes.
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 Mine.
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.
SIRG's CEO has been very busy and earning his salary and shares!
WRONG AGAIN - show where the poster provided proof for the blantiant false statement!
Here is my proof that there were not 34M shares added to the float in the June quarter as falsely posted.
I have tracked the SS of SIRG for over a year and know exactly when and how many shares were added and YOU SIR ARE POSTING FALSE INFORMATION!
20 April 2012 12:14:PM
440,000,000 shares authorized
332,543,364 shares outstanding
1 May 2012 12:56:PM
440,000,000 shares authorized
Total issued and outstanding: 335,620,287
Current share structure per Pacific Stock Transfer as of 8/23/12:
Class A Common stock: 440,000,000 shares authorized
Class A Common stock: 347,833,085 shares outstanding
Class A Common stock: 296,348,085 (float) minus insider shares
Class A Common stock: 51,485,000 restricted
( Post #16753)
Exactly 152879721 shares were added from April 20th to Aug 23rd!
Didn't Dale tout that GEAR was acquiring $30BILLION in ground assets? I thought he was going to buy an entire Philippine island!
Another ludicrous statement - please provide proof that SIRG is going back on the chill list!
SIRG had the DTCC Chill removed on Aug. 14, 2012! It is fully reporting and current in its filings.
NOTE: These notes were entered into BEFORE ROD became CEO so he had nothing to do with them! But as he told me "I have to play the hand I was dealt".
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on August 30, 2011 in the amount of $37,500. The note has an interest rate of 8% with the maturity date of June 4, 2012. This obligation has been satisfied as of June 30, 2012.
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on August 30, 2011 in the amount of $37,500. The note has an interest rate of 8% with the maturity date of June 4, 2012. This obligation has been satisfied as of June 30, 2012.
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 1, 2011 in the amount of $25,000. The note has an interest rate of 8% with the maturity date of April 5, 2012. This obligation has been satisfied as of June 30, 2012.
SIRG is not in default in the payment of principal, interest, asking or purchase fund installment or other default with respect to any indebtedness.
And this from someone who claims to do research prior to pumping a stock:
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What part of defunct and broke don't you understand?
SUGO defaulted on their mining claims and lost them. They defaulted on their notes and are in a death spiral with many days at NO BID?
Why would you risk your money on a total loser when there are legitimate mining companies out there that actually have assets and will be producing revenues?
Past failures, the Lovito Brothers are total failures so how do you expect a failure to run GDSM? Just doing some extremely interesting research on Marc and his brothers.
Did you know Marc's wife is Josephine?
It's called FOLLOW THE MONEY!
Stay tuned for some very interesting surprises! So much research I may not finish today.
GDSM IS a junior mining company or a wannabe junior mining company?
Since 2009 GDSM has been attempting to be a mining company with 5 failed attempts! The Oro Cache, the SunGold, the Eagle, the Gold Crown, the Gold Star and now the latest carrot, the Azurite.
A mining company is a company that owns a mine, a mining claim or mining equipment or provides services for a mining operation.
Which of the above does GDSM qualify under?
SIRG had the DTCC Chill removed on Aug. 14, 2012! It is fully reporting and current in its filings.
NOTE: These notes were entered into BEFORE ROD became CEO so he had nothing to do with them! But as he told me "I have to play the hand I was dealt".
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on August 30, 2011 in the amount of $37,500. The note has an interest rate of 8% with the maturity date of June 4, 2012. This obligation has been satisfied as of June 30, 2012.
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on August 30, 2011 in the amount of $37,500. The note has an interest rate of 8% with the maturity date of June 4, 2012. This obligation has been satisfied as of June 30, 2012.
The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 1, 2011 in the amount of $25,000. The note has an interest rate of 8% with the maturity date of April 5, 2012. This obligation has been satisfied as of June 30, 2012.
SIRG is not in default in the payment of principal, interest, asking or purchase fund installment or other default with respect to any indebtedness.
Please provide the basis for this ludicrous statement!
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.
We are in excellent position to track the permitting process for all of those GDSM/WSRA mines - Gold Crown, Gold Star and Azurite with a contact in Phoenix will will visit BLM offices and another person who will make weekly phone calls.
We also have a contact at USFS so any trail/road permits and any permits for over weight vehicles will be tracked.
But guess what! I don't expect to see any permit applications for weeks, months or if ever!
Remember we are the ones who got the Transfer form showing Chaffee owned the Gold Crown lease when he put it into the GDSM JV and we got the POO which all have been posted on this board.
Has anyone checked on the legality of Chaffee taking company property and transferring it to himself and then a year later putting it into a WSRA JV?
Something very fishy going on with Chaffee and that transfer!
Yes he has 10 years of failures under his belt and I know GDSM investors are hoping that he has learned from his mistakes. Over 10 companies and not a winner among them.
Does anyone know what Gold in Pennies Inc. did? I heard it was a company that tried to run pump and dumps but failed at that too!
We know Brass Bulls Corp. was the IR for WSRA and in 2006 for Bluestar Health, Inc, back in 2009 before they also failed.
OMG - Brass Bulls was a TOXIC funding Corp, just like Asher Enterprises! They loaned Bluestar Health, Inc, $100,000 on a toxic note!
This Note is secured by a security interest in up to a total of
600,000 shares of the Company's common stock owned by Alfred Oglesby (the "Oglesby Shares"), an affiliate of the Company, that is necessary to pay off all outstanding amounts owed to Holder at the time Holder issues a Notice of Default to the Company. In the event. of any Default under Section 4 of this Note, and after any applicable Notice of Default period, the Holder shall he entitled to foreclose and take possession of the Oglesby Shares and dispose of them in any way it sees fit (subject to the restrictions applicable under Rule 144 of the Securities Act of 1933), in its sole discretion, to pay off any outstanding
amounts due to the Holder under this Note. The foreclosure on the Oglesby Shares shall not be the Holder's sole recourse for any amounts due under this Note. In the event that the Holder forecloses and takes possession of the Oglesby Shares, the Holder will have recourse against the Company, and the Company will remain responsible for any difference between the amount still owed under this Note and the money received for the sale of the Oglesby Shares. If the Holder is forced to foreclose on the Oglesby Shares then the Mr. Oglesby will deliver to the Holder the Company common stock that Mr. Oglesby has owned the longest.
http://agreements.realdealdocs.com/Promissory-Note/PROMISSORY-NOTE-TO-BRASS-BULLS-CORP-03-1-1706469/
Brass Bulls can present to you a variety of opportunities for creative financing. These forms of financing will allow your company to obtain additional assets and/or resources when it is unable to do so through traditional forms of financing. Creative financing is available in a tremendous number of forms; including stock swaps, asset swaps, lease backs, etc. Brass Bulls staff is extremely creative and considers this area to be one of our best services.
http://www.brassbulls.com/corporate-finance.html
Now I find it extremely puzzling that since Brass Bulls was in the business of funding other companies, why didn't they fund the TWO PREVIOUS JVs with WSRA back in 2009?
Thanks, as most of you know, I spent 6 months researching SIRG before I bought my first shares. And the research has shown me a real company with professional officers and an outstanding group of men who serve on the BOD.
While we wait for the EA and the Reclamation Bond to be approved by BLM, CDMSmith is working on the APP update and transfer. I was pleased to see that this huge international company has an office in Phoenix which means they are very familiar with working through the ADEQ departments and know what needs to be done for that final approval.
I have never regretting buying one share and I have been accumulating for over a year with a nice profit that will continue to grow as SIRG remains under the radar and under valued.
We are only 5 weeks from Oct. and by then the permits should be approved and the funds released and disbursed and the notes retired - gone - finished - done with.
While the start-up funding caused some dilution, the share structure remains excellent for a sub-penny stock. The potential for SIRG to reach .05 to .10 remains VERY HIGH while the risk is low and getting lower as SIRG leaps through the hurdles and around the track. SIRG IS HEADING HOME!
SIRG is not in default in the payment of principal, interest, asking or purchase fund installment or other default with respect to any indebtedness.
No notes are due until 2013 so there can be no more conversions until that time.
The false claim that over 34M shares were diluted in the June quarter has already been prove to be a lie.
I agree that Marc Lovito is someone who investors should be concerned about. His positions in the various LBI companies should concern everyone.
There is more information available about the case but I am not willing to pay for it.
Marc A. Lovito has been a Vice President and Director of the Company since September 2001. He has been a Vice President with LBI Group, Inc., since June 1994. Mr. Lovito is President of LBI Properties, Inc., a position he has held since February 1998, and Vice President of LBI E Web Communities, Inc. Mr. Lovito is also a partner in LBI Asset Management LP and LBI Capital Partners LP, positions he has held since July 1998.
http://www.reuters.com/finance/stocks/companyOfficers?symbol=GDSM.PK
LOVITO, MARC RAPTOR INVESTMENTS, INC. F01000005639
LOVITO, MARC GOLD IN PENNIES, INC. P06000045827
LOVITO, MARC LOVITO MANAGEMENT GROUP INC. P07000085099
LOVITO, MARC A AMERICANS COMBATING TERRORISM, INC. N98000001934
LOVITO, MARC A GOLD COAST MINING CORP. P01000117523
LOVITO, MARC A BRASS BULLS CORP. P05000038565
LOVITO, MARC A LBI GROUP, INC. P94000048245
LOVITO, MARC A LBI HOLDINGS, INC. P95000091041
LOVITO, MARC A LBI PROPERTIES, INC. P98000014311
LOVITO, MARC A D LBI E WEB COMMUNITIES, INC. P00000061402
http://www.sunbiz.org/scripts/corofflis.exe
Florida Profit Corporation
GOLD IN PENNIES, INC.
Filing Information
Document Number P06000045827
FEI/EIN Number 204728548
Date Filed 03/30/2006
State FL
Status INACTIVE
Last Event ADMIN DISSOLUTION FOR ANNUAL REPORT
Event Date Filed 09/26/2008
Event Effective Date NONE
Principal Address
11555 HERON BAY BLVD.
SUITE 310
CORAL SPRINGS FL 33076 US
Mailing Address
11555 HERON BAY BLVD.
SUITE 310
CORAL SPRINGS FL 33076 US
Registered Agent Name & Address
LOVITO, PAUL
11555 HERON BAY BLVD.
SUITE 310
CORAL SPRINGS FL 33076 US
Officer/Director Detail
Name & Address
Title D,P
LOVITO, PAUL
11555 HERON BAY BLVD., SUITE 310
CORAL SPRINGS FL 33076 US
Title VP
COOPER, JASON former GDSM CEO
11555 HERON BAY BLVD., SUITE 310
CORAL SPRINGS FL 33076 US
Title T
LOVITO, MARC
11555 HERON BAY BLVD., SUITE 310
CORAL SPRINGS FL 33076 US
Title S
LOVITO, DARRIN
11555 HERON BAY BLVD., SUITE 310
CORAL SPRINGS FL 33076 US
BRASS BULLS CORP.
Filing Information
Document Number P05000038565
FEI/EIN Number 050618774
Date Filed 03/07/2005
State FL
Status INACTIVE
Last Event ADMIN DISSOLUTION FOR ANNUAL REPORT
Event Date Filed 09/24/2010
Event Effective Date NONE
Principal Address
11555 HERON BAY BLVD.
#200
CORAL SPRINGS FL 33076
Changed 04/04/2008
Mailing Address
11555 HERON BAY BLVD.
#200
CORAL SPRINGS FL 33076
Changed 04/04/2008
Registered Agent Name & Address
LOVITO, PAUL F JR
11555 HERON BAY BLVD.
200
CORAL SPRINGS FL 33076 US
Address Changed: 04/04/2008
Officer/Director Detail
Name & Address
Title P
LOVITO, PAUL F JR
11555 HERON BAY BLVD., #200
CORAL SPRINGS FL 33076
Title VP
LOVITO, MATTHEW J
11555 HERON BAY BLVD., #200
CORAL SPRINGS FL 33076
Title CFO
LOVITO, MARC A
11555 HERON BAY BLVD., #200
CORAL SPRINGS FL 33076
Title S
LOVITO, DARRIN J
11555 HERON BAY BLVD., #200
CORAL SPRINGS FL 33076
LBI HOLDINGS, INC.
Filing Information
Document Number P95000091041
FEI/EIN Number 742772363
Date Filed 11/30/1995
State FL
Status INACTIVE
Last Event ADMIN DISSOLUTION FOR ANNUAL REPORT
Event Date Filed 10/01/2004
Event Effective Date NONE
Principal Address
105 NW 13TH AVENUE
POMPANO BEACH FL 33069 US
Changed 09/22/2002
Mailing Address
105 NW 13TH AVENUE
POMPANO BEACH FL 33069 US
Changed 09/22/2002
Registered Agent Name & Address
LOVITO, PAUL
105 NW 13TH AVENUE
POMPANO BEACH FL 33069 US
Name Changed: 04/22/1998
Address Changed: 09/22/2002
Officer/Director Detail
Name & Address
Title DPC
LOVITO, PAUL
2855 N UNIVERSITY DRIVE, SUITE 320
CORAL SPRINGS FL 33065
Title VTD
LOVITO, MATTHEW J.
2855 N UNIVERSITY DRIVE
CORAL SPRINGS FL 33065
Title VSD
LOVITO, MARC A
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065
Title VD
LOVITO, DARRIN J
2855 MN UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065
Florida Profit Corporation
LBI PROPERTIES, INC.
Filing Information
Document Number P98000014311
FEI/EIN Number 650815035
Date Filed 02/12/1998
State FL
Status INACTIVE
Last Event ADMIN DISSOLUTION FOR ANNUAL REPORT
Event Date Filed 09/16/2005
Event Effective Date NONE
Principal Address
105 NW 13TH AVENUE
POMPANO BEACH FL 33069 US
Changed 09/22/2002
Mailing Address
105 NW 13TH AVENUE
POMPANO BEACH FL 33069 US
Changed 09/22/2002
Registered Agent Name & Address
LOVITO, PAUL
105 NW 13TH AVENUE
POMPANO BEACH FL 33069
Address Changed: 09/22/2002
Officer/Director Detail
Name & Address
Title C
LOVITO, JR, PAUL F
2855 N UNIVERSITY DRIVE
CORAL SPRINGS FL 33065
Title PD
LOVITO, MARC A
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065
Title VD
LOVITO, MATTHEW J
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065
Title VDS
LOVITO, DARRIN J
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065
Title TD
LOVITO, KIMBERLY W
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065
To the list of questions to be asked at the Prescott meeting I would ask Marc (if he shows up) about Gold to Pennies and Brass Bulls and why Paul was charged with fraud, etc.
Sadly GDSM investors are relying on the chance there may be gold to find. Ah, but Don Jenkins reported that there was gold at the Gold Star, the mining claim he traded to WSRA for 50M shares of stock.
Would you believe a report issued by a used car salesman that is trying to sell you a car, especially one with fake credentials? Wouldn’t you take the car to your own mechanic for an inspection?
Don't you think the testing on the claims should be done by an independent 3rd party as legitimate mining companies do?
The above shows the type of signature and stamp that must be on every geological report issued in Arizona. It shows Dr. Roshan B. Bhappu's P.E. Number 25799 and his AZ P.E. License #4144.
None of the reports produced by Jenkins have this stamp/identification because he is not registered in AZ nor as a P.E.
Three complaints have been filed with the Arizona Board of Technical Registration along with copies of numerous reports where he falsely claimed to be licensed.
The facts speak for themselves and Paul Lovito evaded being served for months. If someone is innocent why not defend the charges in court? Why hide?
District Court of Appeal of Florida,Fourth District.
MOORE v. McCLUSKEY
Warren MOORE, Appellant, v. Edward H. McCLUSKEY, William Barnett, and Paul Lovito, Appellees.
No. 4D03-3190.
-- June 16, 2004
Alan Dagen of Law Offices of Alan Dagen, P.A., Fort Lauderdale, for appellant. No appearance filed for appellees.
A trial court's reaction to the plaintiff's request for an extension of time to serve one of three defendants resulted in the dismissal of the plaintiff's complaint. The plaintiff argues that the trial court abused its discretion in dismissing the action. We agree and reverse.
On July 9, 2002, the plaintiff filed a complaint against Edward H. McCluskey, William Barnett, and Paul Lovito for breach of fiduciary duty, breach of duty of loyalty, and fraud.
On November 4, 2002, the plaintiff filed a motion for extension of time of 60 days to serve the complaint. He alleged that at least one defendant had been served, and that the process server was attempting to serve the other two defendants. The plaintiff asked for more time in case they were not served within the requisite 120 days. See Fla. R. Civ. P. 1.070(j). On November 4, 2002, the trial court gave the plaintiff sixty days in which to serve the complaint.
On April 30, 2003, the trial court set a case management conference for May 27, 2003. On June 30, 2003, the plaintiff filed a motion to serve the third defendant, Lovito, by publication. He alleged that he had served both McCluskey and Barnett, but his previous attempts to serve Lovito had been unsuccessful. The process server had gone to Lovito's residence “over 10 times” without locating him.
The plaintiff attached an affidavit from the process server attesting to these facts. The process server's affidavit indicated that he had spoken with Lovito's mailman who told him that Lovito and the “LBI Group” moved on a regular basis. The mailman had come across Lovito and the group on different routes. According to the mailman, Lovito never stayed anywhere for longer than two months, and the landlords were also looking for him. The plaintiff alleged that he had exhausted his efforts, which included checking public records, the telephone directory, and using two process servers.
On July 8, 2003, the trial court entered an order sua sponte dismissing the plaintiff's complaint. It noted that on May 27, 2003, it had ordered the plaintiff to effectuate service within 30 days. The court added in the order of dismissal that “pon failure to comply, this case is hereby dismissed.”?
Florida Rule of Civil Procedure 1.070(j), as amended in 1999, provides that
f service of the initial process and initial pleading is not made upon a defendant within 120 days after filing of the initial pleading directed to that defendant the court, on its own initiative after notice or on motion, shall direct that service be effected within a specified time or shall dismiss the action without prejudice or drop that defendant as a party; ?provided that if the plaintiff shows good cause or excusable neglect for the failure, the court shall extend the time of service for an appropriate period· A dismissal under this subdivision shall not be considered a voluntary dismissal or operate as an adjudication on the merits under rule 1.420(a)(1).
Fla. R. Civ. P. 1.070(j) (emphasis added).
This court has previously recognized that the rule is not intended to be a trap for the unwary, nor a rule to impose a secondary statute of limitations based on time of service. The results would be harsh in a system where great emphasis is placed on deciding cases justly on the merits. We instead understand the rule to be an administrative tool to efficiently move cases through the courts · The idea of rule 1.070(j) is not to throw up arbitrary temporal barriers for serving process on a defendant who is avoiding service.
Gary J. Rotella & Assocs. v. Andrews, 821 So.2d 468, 469-70 (Fla. 4th DCA 2002) (quoting Sneed v. H.B. Daniel Constr. Co., 674 So.2d 158, 159 (Fla. 5th DCA 1996)).
The trial court properly exercised one of the rule's three options when presented with the plaintiff's first motion to extend the time to effect service on Lovito. Several months passed and the court held a case management conference. At that time, the court gave the plaintiff 30 days to effect service on Lovito. While this might be considered a reasonable period of time in the usual case, the extraordinary extent of Lovito's evasiveness continued to provide good cause to either extend the time or drop the defendant as a party. The court erred in dismissing the entire case given these facts.
The order dismissing the complaint is reversed and the cause remanded for reinstatement of the complaint and proceedings consistent with this opinion.
FOOTNOTES
1. The form order the trial court entered on May 27, 2003 is not in the record, but the plaintiff states in his initial brief that it was entered at the status conference.
MAY, J.
FARMER, C.J., and POLEN, J., concur.
Florida Profit Corporation LBI GROUP, INC.
AND HERE WE HAVE THE WHOLE LOVITO FAMILY INVOLVED IN THIS SCAM! It operated from 1995 to 2003. Looks like the fraud charges shut them down!
Registered Agent Name & Address
LOVITO, PAUL
105 NW 13TH AVENUE
POMPANO BEACH FL 33069 US
Address Changed: 09/22/2002
Officer/Director Detail
Name & Address
Title PCD
LOVITO, PAUL F JR
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065 US
Title VTD
LOVITO, MATTHEW J
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065 US
Title VSD
LOVITO, MARC A
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065 US
Title VD
LOVITO, DARRIN J
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRING FL 33065 US
Title VD
LOVITO, KIMBERLY W
2855 N UNIVERSITY DRIVE SUITE 320
CORAL SPRINGS FL 33065 US
The above address is the accounting offices of
Schulman Wolfson & Abruzzo, LLP
2855 North University Drive
Suite 320
Coral Springs, FL 33065
(954) 840-8867 ext. 301
http://www.swallp.com/site/?page_id=21
THAT'S GREAT NEWS - MARC DOESN'T HAVE TO SEARCH FOR A REGISTERED ACCOUNTING FIRM TO HANDLE THE AUDITS AND FILINGS REQUIRED FOR UPLISTING - HE ALREADY KNOWS A QUALIFIED COMPANY AND HAS DEALT WITH THEM PREVIOUSLY. NO MORE EXCUSES THAT HE IS INTERVIEWING FIRMS!
The Philippines will sell stakes in mining holdings as President Benigno Aquino seeks to nudge forward efforts to boost investment after two years in office.
The government will auction stakes in four nickel, copper and gold mines, as well as shares in Semirara Mining Corp. (SCC), said Karen Singson, executive director of the Privatization and Management Office, one of several state agencies managing asset sales. She declined to give the potential value of the disposals.
“We’re lining up the projects we plan to privatize in the near- and medium-term,” Singson, 33, said in an interview in her office in Manila yesterday. “There are more foreign investors talking to us because of improvements in governance and transparency.”
Aquino has struggled to accelerate asset sales and bidding of infrastructure projects, with the government awarding just one project under its private-partnership program since he took office in 2010. The momentum may be aided by rising investor confidence after credit rating upgrades from Standard & Poor’s and Fitch Ratings, as the nation takes steps to reduce corruption and contain the budget deficit.
Ayala Land Inc. was the highest bidder in an auction of 74 hectares of state-owned Food Terminal Inc.’s property in Manila, Singson said today. The company bid 24.33 billion pesos ($580 million) compared to a reserve price of 10.25 billion pesos set by the government, beating offers from rivals including Robinsons Land Corp. and Empire East Land Holdings Inc.
The nation aims to raise about 2 billion pesos each in 2012 and 2013 from privatization. The government is seeking more than $16 billion of investments in roads, schools and airports, with the goal of boosting growth to as much as 8.5 percent by 2016.
Investor Favorite
“Management of the economy and fiscal consolidation have paid off with a lot of inflows,” said Trinh Nguyen, a Hong Kong-based economist at HSBC Holdings Plc. “The Philippines has become a favorite among investors. The fact that the government is taking steps to improve investment bodes well for growth.”
The peso has risen more than 4 percent this year, becoming Asia’s best performer among the 11 most-traded currencies tracked by Bloomberg. The Philippine Stock Exchange Index (PCOMP) surged to a record in July.
The $225 billion economy expanded 6.4 percent in the first quarter, the fastest in Southeast Asia and the most since 2010. S&P in July raised the country’s credit rating to one level below investment grade, its highest since 2003.
The Privatization and Management Office plans to sell three or four entities to net 500 million pesos in 2013, excluding the mining shares, said Singson, who previously managed $2 billion of emerging-market stocks at Boston Company Asset Management.
Hiring Advisors
The government plans to hire financial advisors to assess the value of the mining stakes, said Singson, declining to provide any further details on the timing of the sales or the size of stakes being sold.
The Privatization and Management Office owns 769,450 shares in mining company Semirara, according to Singson. That is about 0.2 percent of the company and amounts to 171 million pesos, based on today’s prices as calculated by Bloomberg News.
Neighbors including Vietnam and Indonesia have also stepped up plans to sell state assets and lure more foreign investors.
Investor Confidence
The Philippines climbed to 129th place on the Transparency International Corruption Perceptions Index in 2011 from 141st in 2008, below Thailand at 80 and Indonesia at 100, according to the Berlin-based watchdog’s website.
The Philippine Senate in May ousted Chief Justice Renato Corona for concealing his wealth. Aquino had sought to remove the judge as a crucial step in ridding the nation of corruption.
The nation is seeking to harmonize national and local mining policies, even as Xstrata Plc, which is pursuing a $5.9 billion gold and copper project in South Cotabato, is appealing the government’s denial of an environmental permit.
Aquino last month unveiled a new order expanding a mining ban and extending a moratorium on project approvals until Congress legislates a higher government share in resource contracts. The privatization office has implemented rules to prevent irregularities including collusion among bidders, Singson said yesterday.
“We’re asking them for a lot of paperwork,” said Singson, a graduate of Harvard Business School. “We want to check the financial strength of the bidder. We don’t want bids from black- listed companies. Everyone is on equal ground; we’re making it a competitive process.”
To contact the reporter on this story: Karl Lester M. Yap in Manila at kyap5@bloomberg.net
To contact the editor responsible for this story: Stephanie Phang at sphang@bloomberg.net;
Insinuations have been made on this board claiming an "involvement" between SIRG's CEO with a man who was convicted of fraud.
There is no proof that these two men had anything other than a lawyer/client relationship where Emas simply signed a document as the Registered Agent for Blackpool Partners, one of 178 companies/LLCs that he signed for.
State what "involvement" there was between them! Did they commit a crime together as you are insinuating? Show proof! Verify your statement!
Please prove your post that over 34M shares were added in the June quarter!
I have tracked the SS of SIRG for over a year and know exactly when and how many shares were added and YOU SIR ARE POSTING FALSE INFORMATION!
20 April 2012 12:14:PM
440,000,000 shares authorized
332,543,364 shares outstanding
1 May 2012 12:56:PM
440,000,000 shares authorized
Total issued and outstanding: 335,620,287
Current share structure per Pacific Stock Transfer as of 8/23/12:
Class A Common stock: 440,000,000 shares authorized
Class A Common stock: 347,833,085 shares outstanding
Class A Common stock: 296,348,085 freely tradeable (float)
Class A Common stock: 51,485,000 restricted
( Post #16753)
Please back up your statement with proof that Rod had an "involvement" with a securities fraud violator. Here is the definition of involve to assist you.
in·volve (n-vlv)
tr.v. in·volved, in·volv·ing, in·volves
1. To contain as a part; include.
2. To have as a necessary feature or consequence; entail: was told that the job would involve travel. See Synonyms at include.
3. To engage as a participant; embroil: involved the bystanders in his dispute with the police.
4.
a. To connect closely and often incriminatingly; implicate: evidence that involved the governor in the scandal.
b. To influence or affect: The matter is serious because it involves your reputation.
5. To occupy or engage the interest of: a story that completely involved me for the rest of the evening.
6. To make complex or intricate; complicate.
7. To wrap; envelop: a castle that was involved in mist.
8. Archaic To wind or coil about.
FACT: Joseph Emas signed as the Registered Agent for 178 companies/LLCs registered in Florida. He signed a document as OUTSIDE COUNSEL for a pink sheet stock that had three of its officers charged with fraud. He made a mistake, paid his fine, did his 2 yr. suspension and is a practicing attorney in Florida today!
Check for the meaning of "OUTSIDE COUNSEL"!
So by your statement, the CEOs of all 178 companies that Emas signed for are "involved" and guilty of selecting the wrong attorney as their registered agent because they should have known that he would make a mistake!
Please explain what you are charging Rod with.
GEAR was pumped up to .18 last Sept on the fluff PR of the JV with WSRA that was to develop the Silver Cord mine that would produce "immediate" revenues.
Sep 29, 2011..... 0.16..... 0.16..... 0.10 0.10 551,211
Sep 28, 2011..... 0.13..... 0.16..... 0.10 0.16 146,136
Sep 27, 2011..... 0.14..... 0.18..... 0.10 0.16 850,521
Sep 26, 2011..... 0.13..... 0.15..... 0.10 0.15 342,188
People were shouting .50 by New Year's - get in now - and all the pump lingo. I do believe Chaffee looked at the mine but was not interested in a POS with 2 cave ins caused by 70 years of surface water seepage with sections flooded with toxic water. They eyed the tailing piles but they are above the Hassayampa Rivershed and they would never get an APP permit to touch those piles.
Wonder what happened to all those people who paid over a dime for this POS.
I agree and it is very important to have all available and provable information on a company, its project and its officers.
There has been more information on SIRG and the mine researched and released than any OTC company. And while the information is old, it is in the gov archives and therefore absolute proof that an NI 43-101 was prepared at the time the mine was owned by a Canadian company.
Of particular interest to all is the signature and stamp of Dr. Roshan B. Bhappu, who served as the president of SSN in 1990 and is a member of the CSMAA Hall of Fame.
http://www.smenet.org/boardOfDirectors/
http://minesalumni.com/s/840/NHindex.aspx?pgid=495&gid=1
This shows the signature of a real engineer and his AZ P.E. License #4144, proving he is legitimate and registered to practice his profession in the state of Arizona.