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Thursday, 09/27/2012 12:14:28 AM

Thursday, September 27, 2012 12:14:28 AM

Post# of 62039
This amendment on Form 10-Q/A amends the Quarterly Report on Form 10-Q of Sierra Resource Group, Inc. for the quarter ended June 30, 2012 filed on August 21, 2012 (the “Form 10-Q”) for the purpose of furnishing the interactive data files as Exhibit 101 in accordance with Rule 405(a)(2) of Regulation S-T. Additionally, the financial statements included in this amended filing have now been reviewed by our Independent Registered Public Accountants and contain an update to the accounting and disclosures of convertible notes, derivative liabilities and stock-based compensations. Also, this Form 10-Q/A reflects additional subsequent events. These events are reported in the “Subsequent Events” section of this Form 10-Q/A.

In February 2012, the Company issued a convertible note with a face value of $190,000. The note matures on February 16, 2013, bears interest at an annual rate of 15%, and is convertible into common stock of the Company at the option of the holder at a conversion price of $0.045 per share.

In May 2012, the Company issued a convertible note with a face value of $133,000. The note matures on November 1, 2012, bears interest at an annual rate of 15%, and is convertible into common stock of the Company at the option of the holder at a conversion price of $0.045 per share .


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