Sierra Resource Group Inc. (fka SIRG)

[Actuate]

All I see is the cold hard truth that MASSIVE DILUTION is inevitable!!!

FACT: A/S Increase to 990M!

SIRG is over doubling their A/S to assist in covering notes due and so that they can take out additional notes with TOXIC financing companies like Asher!

(1) an amendment to our Articles of Incorporation increasing the shares of authorized common stock, par value $0.001 per share, from
460,000,000 to 990,000,000, consisting of:

a. 970,000,000 shares of Class A common stock
b. 10,000,000 shares of Class B common stock, and
c. 10,000,000 shares of preferred stock

(i) to ensure that the Company is in compliance with requirements for reserve stock set forth in its loan agreements with Asher Enterprises Inc. and other lenders as more particularly described below; (ii) allow the Company to raise operating capital that may be needed in the short term to continue its operations while seeking sufficient funding to re-open mining operations at the Chloride Copper Mine

FACT: The O/S will increase by 20M on the date that the A/S increase is approved!

Capitalization Prior to the Articles Amendment:
Outstanding: 347,833,085

Capitalization Immediately Following the Articles Amendment:
Outstanding: 369,223,884

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8853732


FACT: SIRG owes over $500K in notes due by Feb. 2013.

The Company entered into a Convertible Promissory Note with Grand View Ventures on May 3, 2012 in the amount of $133,333. The note has an interest rate of 15% with the maturity date of November 1, 2012 (See Note 7).
The Company is currently negotiating new terms.

The Company entered into a Promissory Note with FOGO, Inc. on July 31, 2012 in the amount of $200,000. The note has an interest rate of 12% with the maturity date of January 1, 2013.

The Company entered into a Convertible Promissory Note with Grand View Ventures on February 16, 2012 in the amount of $190,000. The note has an interest rate of 15% with the maturity date of February 16, 2013 (See Note 7).

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8914764