Sierra Resource Group Inc. (fka SIRG)

[Actuate]

I have the terms of the notes which state that Asher can convert as early as 180 days after the note is issued. Thus, the note that was issued on February 29, 2012, can be converted on or around August 29th. They can convert the note that was issued on January 13, 2012 at any time if they haven't already. It is only a matter of time before they convert and dilute IMO.

The holder of shall have the right from time to time, and at any time during the period beginning on the date which is
one hundred eighty (180) days following the date of the Convertible Promissory Note and ending on the later of: (i) the
Maturity Date and (ii) the date of payment of the Default Amount, to convert all or any part of the outstanding and
unpaid principal amount of this Convertible Note into shares of the Company’s Common Stock at a conversion price
representing a discount rate of 42% of the then going Market Price which shall be defined as the average of the lowest
three (3) Trading Prices for the Company’s Common Stock during the ten (10) Trading Day period ending one Trading
Day prior to the date the Conversion Notice is sent by the holder of this Convertible Note to the Company.