Sierra Resource Group Inc. (fka SIRG)

[Actuate]

When you give shares away at 51% of the average of the LOWEST three closing trades, that is called TOXIC FINANCING! Any company that plans to continue to finance their operating expenses through Asher is digging themselves into a very deep hole IMO! Lol...

The notes mature nine months from the date of issuance, bear interest at an annual rate of 8%, and are convertible into common stock of the Company at the option of the holder at a conversion rate equal to 51% of the average of the lowest three closing trading prices of the Company’s common stock during the ten trading days immediately preceding the conversion date. Because the convertible notes are convertible into an indeterminable number of shares of common stock, the fair value of the embedded conversion options are required to be presented as derivative liabilities and adjusted to fair value at each reporting date, with changes in fair value reported in the statement of operations.

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