$b_rich$'s Penny Bank Stocks

[$b_rich$]

good grief!

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lmcat Monday, December 19, 2011 12:41:06 PM
Re: Tufan123 post# 2702 Post # of 17873

You are way behind on the dilution on SIRG, it started last Jan. when their convertible note owners and the California group who owned the shell paid for a pump on the stock.
That dilution dropped the price of SIRG from .62 down to .0015 in July.

But SIRG is a winner because the notes are gone and SIRG owns 80% of the copper mine with no mortgage or lease payments making it an asset!

On April 23, 2010 SIRG purchased 80% of certain mining interests of Medina known as the Chloride Copper Project, a former copper producer comprised of a mineral deposit and some infrastructure located near Kingston, Arizona (the “Copper Mine”).


The purchase price was $7,505,529.

The purchase price was determined based on the Company's analysis of a recently completed comparable acquisition and based on the value of the associated underlying shares of the Company’s common stock which value of $.16 per share represented the offering price of the Company’s Common Stock in its most recently completed equity transaction prior to the date of the Purchase Agreement.

So SIRG paid $7,505,529 for its 80% of the mine and it is now an asset.



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lmcat Wednesday, December 21, 2011 5:33:56 PM
Re: Dwill2 post# 2733 Post # of 17873

There are many trades so small that it cost money to sell the shares so that does not make sense.

The Asher notes were converted last winter/spring.

Rod stated that he is working on financing with no convertible notes. My guess is he may try a pre-sale of the copper or zinc production