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SIRG should lose the E tomorrow.
A security is removed from this list one business day after FINRA
determines that it is eligible for quotation.
http://www.otcbb.com/DailyListContent/delistings/OTCBBDelOpenReport.pdf
Highly possible that some SIRG shareholders who don't post or read the boards saw the E still there today and hit the panic button and sold. They probably were not aware that the 10Q was filed and will regret that decision when they see all is fine as SIRG continues to move forward.
Why post only half the relevant information?
Agree, SIRG volume has been growing all week. Next week we celebrate October and more action.
According to OTCBB it can take up to two business days for the E to be removed but a call to FINRA will confirm that the E is officially removed from SIRG. And SIRG is not on the pinks, further confirmation.
From the SIRG Amended 10Q we can clearly see the work of their new accounting firm, MARCUM LLC. Much more detail and the Subsequent events.
The Fogo note was likely used to pay the Asher note dated Feb. 28, 2012.
In February 2012, the Company issued a convertible note with a face value of $190,000. The note matures on February 16, 2013, bears interest at an annual rate of 15%, and is convertible into common stock of the Company at the option of the holder at a conversion price of $0.045 per share. The investor in the convertible debt also acquired 8,650,00 shares of common stock and warrants to acquire 6,900,000 share of common stock for an exercise price of $0.015 per share over a four-year term for proceeds for $10,000. The Company allocated the proceeds from the sale of convertible debt, common stock, and warrants to their equity and liability components and recorded an additional debt discount equal to the amount of proceeds allocated the warrants equal to $8,289 to be amortized into expense through the maturity date of the convertible note. During the three and six months ended June 30, 2012, the Company recorded amortization expense of $999 and $2,067. As of June 30, 2012, the carrying value of the convertible notes was $200,541. In addition to the amortization of discounts the Company recognized $8,709 and $10,541 of interest expense on the convertible note for the three and six months ended June 30, 2012, respectively.
In May 2012, the Company issued a convertible note with a face value of $133,000. The note matures on November 1, 2012, bears interest at an annual rate of 15%, and is convertible into common stock of the Company at the option of the holder at a conversion price of $0.045 per share.
In conjunction with the issuance of convertible note, the Company also granted the holder of the convertible note the right to purchase a number of shares of common stock equal to 62.5% of the common stock issuable upon conversion of the convertible notes issued in January and February of 2012, for an exercise price equal to the outstanding principal on the notes issued in January and February of 2012. The Company is required to use the proceeds of such exercise to settle the notes issued in January and February of 2012. Because the exercise price and number of shares purchasable under the purchase option are indeterminable, the Company was required to record a derivative liability for the fair value of the purchase option.
SIRG entered into a Convertible Promissory Note with Asher on Feb. 29, 2012.
On August 24, 2012, SIRG paid in full the Asher Enterprises Inc. Convertible Promissory Note dated February 29, 2012.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8838563
Before anyone gets too excited about GDSM, they should meet the CEO.
Marc Lovito, CEO of GDSM
There are four Lovito brothers and all have a history of total financial chaos - failed personal and businesses. These guys couldn't run a lemonade stand! Brother Paul was fined $5,000 for cheating on his FINRA exam! He was also charged with fraud.
Marc Lovito's bio is on the Gold Coast website and lists all his accomplishments making him an awesome CEO for GDSM! That bio is very carefully presented to not name or identify Marc with any of the long list of failed companies. There is no proof that anything in that bio is true. What is true and can be proven is a long list of failed companies all involving Marc and his brothers.
Paul, Marc and Matthew were all officers of Brass Bulls. BB was the IR for WSRA and GDSM back in 2009.
[color=red]This is a JUDGMENT against Brass Bulls for $25,428.24.[/color]
Eviction notice for LBI Properties, Inc.
Marc Lovito's home and Hummer!
Federal Tax Lien[color=red][/color]
GDSM currently has a YIELD sign on OTCMarkets because the attorney has not signed the attorney letter due to share count discrepancies.
NOW THAT THE E IS CLEARED UP - how about clearing up the SIRG paid pump that was posted about?
WRONG AGAIN!
WRONG AGAIN - SIRG paid off the Asher note from Feb!
SIRG entered into a Convertible Promissory Note with Asher Enterprises Inc. on July 17, 2012 in the amount of $53,000. The note has an interest rate of 8% with the maturity date of April 19, 2013.
On August 24, 2012, the Company had paid in full the Asher Enterprises Inc. Convertible Promissory Note dated February 29, 2012.
This amendment on Form 10-Q/A amends the Quarterly Report on Form 10-Q of Sierra Resource Group, Inc. for the quarter ended June 30, 2012 filed on August 21, 2012 (the “Form 10-Q”) for the purpose of furnishing the interactive data files as Exhibit 101 in accordance with Rule 405(a)(2) of Regulation S-T. Additionally, the financial statements included in this amended filing have now been reviewed by our Independent Registered Public Accountants and contain an update to the accounting and disclosures of convertible notes, derivative liabilities and stock-based compensations. Also, this Form 10-Q/A reflects additional subsequent events. These events are reported in the “Subsequent Events” section of this Form 10-Q/A.
In February 2012, the Company issued a convertible note with a face value of $190,000. The note matures on February 16, 2013, bears interest at an annual rate of 15%, and is convertible into common stock of the Company at the option of the holder at a conversion price of $0.045 per share.
In May 2012, the Company issued a convertible note with a face value of $133,000. The note matures on November 1, 2012, bears interest at an annual rate of 15%, and is convertible into common stock of the Company at the option of the holder at a conversion price of $0.045 per share .
ALERT 10QA FILED TODAY, SEPT 26TH
So why not take it up with MARCUM and FINRA and find out what the holdup is?
Rod simply passed along what he was told by MARCUM.
Where is that proof for the paid pump that was posted? Still waiting!
That's right! SIRG's next target after FMV is .05 the options exercise price for officers and BOD members and after that the pps will be based on the EPS. Rare for an OTC company but the SIRG is not the usual OTC company.
Good buy, you will be really happy when SIRG hits its Fair Market Value of .035.
Due to the recent rise in the price of copper, SIRG's FMV has increased!
And someone just sold 600 shares of SIRG at .0012 to paint SIRG down. $7.20 minus commission!
Can't keep SIRG down today back to .0127.
Someone who thinks they found a better stock than SIRG without patience. Looks like he is finished selling.
I really don't care that some insider is buying shares, it means nothing. The fact is that HMNC failed to report a material event, like 3 NOVs with an 8K in an attempt to keep their shareholders in the dark is what matters.
Perhaps a call to Paul at the BLM Kingman office might shed some light on Hondo operations.
Having been in contact with Mr. Chaffee for well over a month I have seen WSRA through his eyes and as WSRA has survived all these years without doing JVs with other companies I believe they will continue to do so.
Punchline Resources CEO and Geologists to Conduct Winnemucca Mountain Gold Property Site Visit -- Company Looks to Fast Track Next Stage of Exploration
ONE UGLY CHART!
Punchline Entertainment Inc.
PUNL | 9/26/2012 6:00:05 AM
Punchline Resources CEO and Geologists to Conduct Winnemucca Mountain Gold Property Site Visit -- Company Looks to Fast Track Next Stage of Exploration
http://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=934869&ProfileId=051205&sourceType=1
TORONTO -- (Marketwire) -- 09/26/12 -- Punchline Resources Ltd. (OTCQB: PUNL) (OTCBB: PUNL) ("Punchline" or the "Company") is pleased to announce that its CEO, Mr. Ramzan Savji, has joined the Company's consulting geologists to conduct a comprehensive site visit at the Company's Winnemucca Mountain Gold Property in Nevada.
During the site visit, the group will be assessing near term exploration and development options at the Winnemucca Mountain Property with the goal of developing a better understanding of its large scale potential and fast tracking the next stage of work programs.
"The Punchline team will be spending the next few days conducting a thorough site visit at our newly optioned Winnemucca gold project in Nevada in order determine the most practical way to expedite the next stages of development," said Ramzan Savji, CEO and President of Punchline. "The Winnemucca project has demonstrated enormous upside potential and appears ideally suited for an aggressive exploration program using modern mining techniques. This site visit should provide us with a deeper understanding of the project and allow us to execute the most economic and effective work program possible."
About Punchline Resources
Punchline Resources Ltd. is an emerging mineral resources company focused on both domestic and international exploration and development projects. The Company is currently exploring the Empress Project and Winnemucca Mountain Gold Property in Nevada, USA. The Company is also evaluating several additional projects for potential acquisition and/or participation.
Forward-Looking Statements
Some information in this press release constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements such as but not limited to, the carrying out of planned exploration programs, the establishment of proven resources, and the possible future economic production of minerals. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Punchline Resources Ltd. herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Punchline Resources Ltd. disclaims any obligation to update forward-looking statements contained in this press release, except as may be required by law.
For further information regarding Punchline, contact:
Punchline Investor Relations
(888) 553-9995 (Toll-free)
E-mail: info@punchlineresources.com
Website: www.punchlineresources.com
http://www.stockhouse.com/news/usreleasesdetail.aspx?n=8624057
Mr. Chaffee has been releasing his Shareholder Report about every three months so Sept. 28th would work fine.
Remember that WSRA has many projects in the pipeline including the Gold Basin, Silver Cord, Cuba, Greyhound, Phau Springs, Trident and Spruce Creek mines.
I would think WSRA will be concentrating their efforts on the Azurite but doubt GDSM will be a part of it. We should know more on Monday.
Keep looking. I researched back and there are no PRs that announced the termination of the two previous JVs with GDSM nor is there any announcement that the recent JV with GEAR was terminated. Seems these JVs are only PRd when they are started but nothing said when they are done as in defaulted.
Well then congratulations on that .006 buy and you now have a nice double with the bid at .012. Like many SIRG investors, bet you wish you had bought a lot more.
And welcome to the SIRG board.
The pump in Jan of 2011 - over a year and a half ago has been extensively discussed on the SIRG board. It was posted that there is a current paid pump and we are demanding proof which is not being provided.
Ask is .0127 - need someone to hit that ask!
Still waiting for proof that there was a paid pump on SIRG. No need to wonder - just post proof that a pump was paid for!
Look at the transaction date - 07/24/2012 - that was over 2 months ago.
Please provide proof of a SIRG pump and proof it was paid for! This must be verified!
Mr. Chaffee provided the Azurite report to Marc for review by his "private" investors. Never did he think Marc would publish it on the GDSM website to pump the stock.
There is NO Amendment that increases the preferred from 5M to 100M!
The Aug. 15th Amendment created the Series E shares when 5,000,000 already existed. That filing refers to "out of the 100,000,000 shares of preferred stock" but there is nothing to create those 100M shares until the Aug 16 amendment!
So how could GDSM give WSRA 40,000,000 shares in 2009 when only 5,000,000 preferred shares existed?
Prove that SIRG or anyone paid for a pump! Verification required! Link to the disclaimer showing the amount paid will do fine!
CTV British Columbia
Monday, Sep. 24, 2012 8:54AM PDT
A record number of mineral claims have been filed in B.C. over the last three years and more than 11,000 were filed in the first seven months of 2012, signaling a prospecting boom in the province.
Around $463 million was spent on mineral exploration in B.C. last year and the same amount is expected to be spent this year.
But despite few claims actually becoming a mine, those who work as prospectors cling to the dream of striking it rich.
Geologist Leslie Hunt lives in a cabin on the shores of a small lake in northern B.C.
While moose splash around in the water outside of her cabin, computers are switched on inside as she looks for her fortune.
“This would run about a hundred ounces a ton, which is an awful lot of gold,” Hunt said referring to a rock with gold in it.
One mine nearby her spread produced more than 70,000 ounces of gold before it was shut down several years ago.
Now, driven by the high price of gold, Chinese investors are interested in starting it up again.
Such claims are traded back and forth at “roundups” where junior miners try to sell to senior mining companies and people look for investors.
All the money from prospecting trickles down through the B.C. economy.
Hunt has never managed to strike it rich, but that hasn’t deterred her.
Several years ago a virus attacked her heart and, after a transplant, she was back prospecting.
This summer, however, Hunt was diagnosed as needing the new heart and kidney, but she vows she will be back in the wilderness to stake her claim next year.
“Probably, needing a new heart and a new kidney, it’s going to be a little bit dicey as far as work is concerned,” she told CTV news earlier this year.
“But we’ll just get through it.”
Read more: http://bc.ctvnews.ca/miner-claims-see-major-spike-in-b-c-1.967911#ixzz27WF3MTlX