Sierra Resource Group Inc. (fka SIRG)

[lmcat]

If they haven't completed a review of the 10-Q, they obviously haven't approved it. The main question would be, will they actually accept SIRG as a client when they see things like them writing off over $600K in debt???

Actually it was likely that MARCUM is the one who idscovered the strange debts since it had been on the books since 2010!

The Company believes the promissory note to Brian Hebb dated August 16, 2010, the promissory note to Black Diamond Realty Management dated August 6, 2010, the promissory note to Brian Hebb dated May 5, 2010 and the promissory note to South Concord Corp dated September 30, 2011 are not legitimate debt instruments of the Company. The Company has attempted to acquire documented proof of these obligations but none has been obtained. The Company has contacted the creditors and the Company’s prior Auditors for proper documentation but none has been provided. The Company has written-off these presumed fictitious debt instruments and has recognized the resulting Forgiveness of Debt Income as of June 30, 2012.

If these were legitimate notes why did Brian Hebb and his compny not provide proof? A little research on Brian Hebb told me Hebb is/was a scammer. Brian Hebb told otheres that he was going to be the SIRG CEO but NEVER HAPPENED. (Florida court documents.)

So no accounting firm would accept a new client because they have debt?

That Medina $300K was actually rolled over into the LOI that increased from $1,200,000 to $1,500,000. Read the LOI!

I think they will either do a MAJOR revision to the 10-Q or they will just flat turn them down as clients.

Facts and not what someone thinks is what is important here.

So, the current 10-Q is unaudited! It is required that ALL filings are AUDITED by an ACCOUNTANT!

WOW now SEC rules are being changed? Since when does the SEC require a 10Q to be audited? People familiar with OTC companies know that 10Qs are not required to be audited!

POSTING WRONG AND FALSE INFORMATION AGAIN!

Form 10-Q, (also known as a 10-Q or 10Q) is a quarterly report mandated by the United States federal Securities and Exchange Commission, to be filed by publicly traded corporations.

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, it's an SEC filing that must be filed quarterly with the US Securities and Exchange Commission. It contains similar information to the annual form 10-K, however the information is generally less detailed, and the financial statements are generally unaudited. Information for the final quarter of a firm's fiscal year is included in the 10-K, so only three 10-Q filings are made each year.

http://en.wikipedia.org/wiki/Securities_and_Exchange_Commission_Form_10-Q

I have NEVER heard of a company just writing off debt as "not real debt".

SIRG wrote off the debt when the debtor failed to provide proof of the debt! Like show me the note!