Sierra Resource Group Inc. (fka SIRG)

[Warmy]

During the first quarter of this year Asher was issued just over 21% of the company's A/S. Yes they can hold more than 5% and yes they can and will report it.

During January to March 2012 the Company issued Asher Enterprises a total of 94,387,340 shares of the Company Common stock.
The stock was issued in exchange for the conversion of notes payable issued on the remaining balance of June 8, 2011, July, 1, 2011
and a portion of August 30, 2011.

And these came due after that...

The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on June 8, 2011 in the amount of $32,500. The note has an interest rate of 8% with the maturity date of March 13, 2012.

During the course of the year ended December 31, 2011 Asher Enterprises converted $10,000 in principle balance of the note to the Company’s common stock in accordance to the terms of the Agreement.

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.

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.

How many millions of shares were issued for those notes? Definitely more than 10 million.