Sierra Resource Group Inc. (fka SIRG)

[Actuate]

I would have to say that an O/S increase of 128,816,283 shares in 6 months is a large amount of dilution.

Five months later and no massive dilution as was claimed!

In Q2, SIRG gave Asher 18,278,943 shares, to pay off a single note totaling $18,759. That is an average PPS of 0.001.

Asher has two more notes that can be converted any day now since they can convert as early as 180 days after the note was issued.

The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on January 13, 2012 in the amount of $37,500. The note has an interest rate of 8% with the maturity date of January 7, 2013.

The Company entered into a Convertible Promissory Note with Asher Enterprises Inc. on February 29, 2012 in the amount of $30,000. The note has an interest rate of 8% with the maturity date of February 23, 2013.

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8784707