Replies to post #35014 on Sierra Resource Group Inc. (fka SIRG)

[Stargazer1945]

Well done, thank you...

[WhiteFish]

sticky

[lukin4winners]

Thanks Stervc a little objectivity goes a long way!

[MOONSHOT]

you are always detailed and well informed in your answers, this mustve taken a while to type up but I believe the potential behind this play makes it worth while.

thanks!

[NCool]

Someone should sticky this

[doogdilinger]

Not sure why this post of sterling's isn't a yellow sticky but it should be as it's very well done!

[SPARK]

Great post sterling..sticky this one! I like this much..--->>>

Courtesy of texman, the court dockets recently filed below indicate that the Outstanding Shares (OS) has been decreased/reduced down from 813,817,442 shares as of Dec 31, 2014 to 319,395,976 shares as of March 31, 2015. This is a share reduction of 494,421,466 shares which is a greater than a 50% share reduction:
investorshub.advfn.com/boards/read_msg.aspx?message_id=115121802

[crowbar]

Dismissal != Approval

It’s been a long time coming, but the filed dismissal confirms that the time is very near.

Dismissal of a bankruptcy is not the same as approval of a plan of reorganization. Read Judge Landis' ruling from May 29 (Doc 67). Dismissal lifted the stay on foreclosure.

[NCool]

This post is awesome and gave me the confidence to hold and make money!!

[SRV1975]

Amazing post stervc!! MUST READ!! Mods....can this be stickied?

[WhiteFish]

All good info, but you left out why the BK was dismissed. Creditors filed a motion to dismiss claiming the case was a SARE. The court agreed. The court had no opinion on whether a plan was viable or not, nor did they approve any plans before dismissal. The creditors did this so that SIRGQ could not use further delay tactics in the BK and so they could pursue collection efforts faster. Thoughts or rebuttal?

[KrakenTaken]

The man the myth the legend SIRG !!! LOL still cannot believe how great this is

[BeamMeUpScotty]

Stervc excellent post well worth a read by everyone here.

Accumulated losses are always a huge incentive to reverse into another company - especially when its in the same business as you are.

The $1.5m that Orotecno put up as guarantor to get SIRG bankruptcy will already pay for itself in the tax write off's over the next two years several times over!

Nothing like being able to write off profits against previous losses.

Seems like a very shrewd move by Orotecno to me.

SIRG