Replies to post #195 on Sierra Resource Group Inc. (fka SIRG)

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Common shareholders could convert their shares to common B on a three for one basis.

Class B shares equate to the power of two shares towards voting. So the 40,000,000 shares equate to 80,000,000 in voting power.

(c)10,000,000 shares of the Company’s Preferred Stock (the “Preferred Stock”) will be issued in escrow, as security, to be issued to the Guarantor only in the event of a default by the Company.

(d)In the event of a default by the Company on the bank credit line or the Agreement, the Preferred Stock would be issued to the Guarantor and would carry voting rights of 100 votes per each share of Preferred Stock, i.e. an equivalent of the voting power of 1,000,000,000 shares of Common Stock. A default by the Company, then, would result in the Guarantor obtaining voting control of the Company.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7855411

Harmony Mining was one of the original "assignees" with regards to the original transaction. They already own 10,000,000 shares(after financing and delivery, they would own 50,000,000 shares..with a "voting" power equal to 90,000,000 shares. It's not the name as much as it is being the guarantor. This is essentially a South American company, and why the meeting was held in Quito, Ecuador. I'll follow up later.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7855411

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Harmony(the trust) is one that arranges the financing and acts as Guarantor.

SECTION 1.3 Financing . PURCHASER shall arrange for financing to be provided to SIERRA for an amount necessary to allow the Mine to enter into full production and deliver the Copper Cathode. Such financing shall be in the form of bank loans guaranteed by PURCHASER or its designee (“Financing”) in the gross loan amount of at least Six Million Dollars (US$6,000,000). The Financing shall be repaid on the following terms: Such terms acceptable to the bank(s), PURCHASER and SIERRA and secured with a perfected first position security interest on Ten Million (10,000,000) shares of SIERRA Series A Preferred Stock (the “ Series A Preferred Stock ”) issued in the name of PURCHASER “or its assigns”, such stock to have voting rights of one hundred (100) votes for each share and convertible, under the terms and conditions defined herein, to four (4) shares of SIERRA Class B Common Stock (the “ Class B Common Stock ”). The Series A Preferred Stock is to be fully issued, executed and escrowed with PURCHASER’s counsel until such time as it is released to PURCHASER or returned to SIERRA as provided herein.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7855411

So what "the trust"(Harmony) brings to the table is first, a contract of sale(a business transaction). And secondly, a guarantor(or designee as guarantor with the bank).

More to follow.