Southridge Enterprises Inc (SRGE)

[da_trader]

HEADS UP

Southridge Enterprises, Inc. (PINK:SRGE) Got Rid of Carrillo Huettel?

by Kaloyan Gadzhev
Nov 26, 2012

There is more than one way to pump a stock's price. As I mentioned last week, Southridge Enterprises, Inc. (PINK:SRGE, SRGE message board) has been traded more actively than usual in the last three months.
On Friday, despite the short trading session SRGE managed to close up 44.57% with approximately 40 million shares changing hands. This brought about a close above the penny mark for the second time in more than a year.

In my previous article I also said that SRGE has some problems with traders trusting what the company provides as information, and one of the factors contributing to that was the legal counsel for SRGE. About 20 minutes after the publishing of the article the company announced it had changed its legal representation.

This could be good step towards being more credible, but SRGE failed to name its new legal counsel in the press release. OTCMarkets still lists Carrillo Huettel as the company's legal counsel. Additionally this sudden decision resulted in the postponement of the filing of SRGE's financial report.

Some of the hardcore believers in SRGE have been ecstatic over the cash dividend paid out by SRGE. While the fact that the company actually paid the dividend is commendable, investors may want to keep in mind that the dividend was $0.00003 per share, which translates into $6,478 for the whole public float or $16.3 thousand for all of the outstanding shares.

Getting new legal representation may be a good decision, but the company still has some way to go before the claims it makes can be taken at face value. The fiasco with the revamped 2007 video will be hard to wash off.

However, if what SRGE is saying turns out to be accurate and true, the company should have little problem proving it.

http://www.hotstocked.com/article/41122/southridge-enterprises-inc-pink-srge-got-rid.html