Sierra Resource Group Inc. (fka SIRG)

[lmcat]

The current authorized is 1.49 BILLION and it was just increased last week from 10 MILLION, that's a huge increase.
The insiders own about 10%
There are still outstanding CD's working against the stock
The company owns 90% of the mine and are trying to raise the cash to buy it outright which may require further dilution because the company currently is not producing any revenue.
The dilution in the past was used to start paying off the CD's with some still outstanding.
There is about 700 million shares issued and outstanding.

Before I go on, is this information correct based on the posts I have read?

You are wrong - the AS shares were increased in January, NOT LAST WEEK. Further the AS was not 10M shares. Our CEO and officers have owned more that 10M shares since Oct of 2010!

You are correct that there are remaining CDs that we anticipate will be paid this month with the funding proceeds.

The company owns 90% of the mine and are trying to raise the cash to buy it outright which may require further dilution because the company currently is not producing any revenue.

You are WRONG again - SIRG owns 80% of the mine free and clear. They plan on closing on an additional 10% of the mine on March 19th. Your are WRONG - SIRG has not announced any plans to buy the last 10% of the mine from Medina Properties.

The previous CDs were used to purchase the mine. At least SIRG did not burn through these funds "looking" for ore as so many junior mining companies continue to do.

We don't know how many shares are issued and outstanding, a call to the TA would answer that question.