Replies to post #47640 on Sierra Resource Group Inc. (fka SIRG)

[xZx]

i agree with what you're saying here, but one must admit if the "real jorge" is behind emails that have been sent out (and i don't see how they could be from anyone else, given communications started from the email listed on OROT's 2012 blog), then he's inconsistent at best.

early emails said he was interested in a merger with SIRG and wanted to meet with management in vegas. HOORAY! GREAT NEWS!!

then he says in a later email that any talk of a deal via unofficial channels is baseless and (paraphrasing here) "were in the future", check the orotecno.net site for official word. OH, OKAY, SOUNDS... GOOD... JORGE...

then that same URL in his email is the site we saw yesterday morning with the "bad news" version of the same in the banner text. sure, it says the same thing, but with no sugar coating of "maybes".

and to compound all the confusion, when the "bad news" was posted we all saw a huge amount of bid support, buyers waiting to pluck shares from anyone rattled by that development.

what a fun ride, huh?

i don't think anyone here is being unfairly critical of jorge. he's done a great job of bringing it all on himself.

It's clear Jorge has tax issues in Ecuador and OROT has been suspended from exporting. The only logical and possible solution for Jorge and OROT to keep in business is to take this deal. Its a large mine, with great revenue potential that he would be getting really really cheap, and allows him to take advantage of several tax write offs here in the states that dont reflect his tax issues in Ecuador.

As many people have stated....SIRG is the shell! It's the only way Jorge can stay in business. I'm not sure though, how having an out of country business will affect the tax issues he may have at home. If it's run anything like the states, wouldnt it be pretty much like having a cayman bank account? Different tax laws and his profits would be kept here in the states. OR, he could take advantage of the tax break and capitalize on it to pay off his tax evasion issue in Ecuador to keep OROT running there as it's obviously a large established business.

Basically....OROT, with its tax evasion problems in Ecudaor, would cease to exist unless Jorge makes this deal and uses SIRG as a shell. Unless, by some miracle, he becomes current on his tax payments to Ecuadorian government. He's in a bind, and he has to act fast or he'll be dipping his toes in some pretty hot water.

[OCMillionaire]

idk where anyone keeps getting all this


tax evasion stuff.....haven't seen one post providing hard facts of it. Just, some "phone calls" LMBO