Sierra Resource Group Inc. (fka SIRG)

[Citrati]

According to 10-q filed march 31, 2012

Mining property $163,000
Equipment $125,000
Liabilities ($384,540)
Goodwill $7,602,069
Net Asset Value $7,505,529

Definitely overpaid for acquisition.

All the value of the company is in Goodwill. Nothing Tangible.

They are losing over $1,000,000 per year and just added a costly firm. There is no date for funding. Past cash has come from dilution. Don't see an investor taking on all the debt, interest and defaulted notes, so even if funding were to occur dilution is still needed.

More red flags so far than substance. Definitely a roll of the dice, though they may be loaded against the roller. JMO