Replies to post #13627 on Sierra Resource Group Inc. (fka SIRG)

[RedShirt1]

or they were already sold if you look at the monthly totals

[Actuate]

What happens when they run out of shares to issue for the current notes? They will have three options. 1. Increase the A/S 2. Complete a R/S 3. Default on their notes.

At this point, defaulting on their notes seems to be their route of choice.

Currently in default:

Brian Hebb: August 16, 2010 in the amount of $34,527. Interest rate of 8% with the maturity date of July 15, 2011. Current amount with interest $46,765

Black Diamond Realty Mgmt: August 6, 2010 in the amount of $25,000. The note does not have an interest rate on the principal balance and matured on August 16, 2011. Current amount with interest $26,126

Brian Hebb: May 5, 2010 in the amount of $125,000. The note has an interest rate of 8% with the maturity date of August 16, 2011. $172,402

The Company entered into the purchase interest of the Chloride Copper Project from Medina Property Group, LLC which resulted in the Company acquiring the debt and a promissory note dated March 22, 2010 in the amount of $360,000. The note has an interest rate of 8% with the maturity date of September 22, 2010. The Company is currently in default of the note, $421,239

Convertible Promissory Note with South Concord, a related party, on September 30, 2010 in the amount of $30,000. The note has an interest rate of 10% with the maturity date of September 30, 2011 $38,539

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8681055