Southridge Enterprises Inc (SRGE)

[terry_mathews]

Spoke with the lawyers for Magna. Quite interesting. That are at a loss as to what to do and what is their legal obligations. Magna and their outside counsel are investigating their obligations. In the mean time, I was told that I could do as I wish with regards to filing a regulatory complaint.

With respect to ANY working relationship between Magna and SRGE, the lawyer would not confirm or deny as to whether they have ever even spoken. What he was clear in saying is that their is no current business relationship between the two.



With regards to my SEC complaint, I received feedback from that as well. It was a canned response from the DFW regional office. It is also the same canned response that resulted in two previous SEC enforcement actions.

Thank you for your correspondence dated December 11th and December 13th, which have been forwarded to the Fort Worth Regional Office (FWRO).

We appreciate your alerting us to your concerns regarding Magna Group’s relationship with Southridge Enterprises. The FWRO processes many complaints received from individual investors and others. We keep records of the correspondence we receive in a searchable database that SEC staff may make use of in inspections, examinations, and investigations. In addition, some correspondence received by the FWRO is referred directly to other SEC offices and divisions for their review.

The SEC conducts its investigations on a confidential and nonpublic basis and neither confirms nor denies the existence of an investigation unless the SEC brings charges against someone involved. We do this to protect the integrity and effectiveness of our investigative process and to preserve the privacy of the individuals and entities involved. As a result, we will be unable to confirm whether an investigation exists or provide you with any updates on the status of your complaint or of any pending SEC investigation. Information on our policy is enclosed. You may wish to check our website, www.sec.gov, for information about pending SEC civil actions, administrative cases, and other matters.