Replies to post #13688 on Sierra Resource Group Inc. (fka SIRG)

[Actuate]

The price I stated is correct. It states it is a discount rate of 42% of the then going Market price. That is 42% of the then going price, not a 42% discount. 42% of anything is always 42% times that number. Furthermore, the market price is defined as the average of the lowest three trading prices for the previous ten trading days. Thus, the lowest prices that shares were sold at on those three days. I was giving an example of the number of shares that would have been converted if they converted the entire notes on the dates they came due.

The holder of shall have the right from time to time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of the Convertible Promissory Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, to convert all or any part of the outstanding and unpaid principal amount of this Convertible Note into shares of the Company’s Common Stock at a conversion price representing a discount rate of 42% of the then going Market Price which shall be defined as the average of the lowest three (3) Trading Prices for the Company’s Common Stock during the ten (10) Trading Day period ending one Trading Day prior to the date the Conversion Notice is sent by the holder of this Convertible Note to the Company.

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

[Actuate]

For example, you can look at the 11 notes that were fulfilled with shares to asher from Jan. 31st through March 31st of this year. Below is the historical data. If you average the historical data for all of those dates you get an average low of 0.0019.
0.0019 x 42% = 0.0008

The notes were satisfied at a pps of 0.0009.
$84,119 / 94,387,340 shares = 0.0009

Of course the number isn't precise because I calculated all of the daily lows for those dates instead of the lowest three of any 10 day period since it only states there were 11 notes converted, but it does give you an idea of how it works.

Fram January 31, 2012 through March 31, 2012 the Company issued Asher Enterprises during eleven dates a total of 94,387,340 shares of the Company’s Common stock. The stock was issued in exchange for the conversion of notes payable totaling $84,119 issued during 2012.

Date Open High Low Close Volume
Close
2012/03/30 0.0025 0.0025 0.0019 0.0023 11,561,887
2012/03/29 0.0030 0.0030 0.0025 0.0026 210,921
2012/03/28 0.0030 0.0030 0.0025 0.0027 2,206,418
2012/03/27 0.0023 0.0030 0.0022 0.0030 8,827,214
2012/03/26 0.0026 0.0026 0.0020 0.0026 606,880
2012/03/23 0.0025 0.0030 0.0020 0.0022 8,363,011
2012/03/22 0.0034 0.0034 0.0025 0.0025 3,456,985
2012/03/21 0.0023 0.0039 0.0023 0.0034 2,582,304
2012/03/20 0.0020 0.0023 0.0020 0.0023 383,423
2012/03/19 0.0022 0.0025 0.0020 0.0025 8,254,232
2012/03/16 0.0025 0.0025 0.0022 0.0023 6,831,200
2012/03/15 0.0025 0.0025 0.0021 0.0021 6,778,459
2012/03/14 0.0026 0.0026 0.0025 0.0025 1,120,000
2012/03/13 0.0031 0.0031 0.0026 0.0028 9,051,666
2012/03/12 0.0040 0.0040 0.0033 0.0036 3,304,412
2012/03/09 0.0033 0.0042 0.0031 0.0038 2,630,771
2012/03/08 0.0029 0.0035 0.0026 0.0030 10,616,120
2012/03/07 0.0030 0.0035 0.0029 0.0029 4,814,500
2012/03/06 0.0042 0.0044 0.0028 0.0028 6,115,142
2012/03/05 0.0029 0.0044 0.0025 0.0042 5,010,621
2012/03/02 0.0023 0.0030 0.0023 0.0030 1,526,877
2012/03/01 0.0027 0.0027 0.0022 0.0027 2,526,500
2012/02/29 0.0029 0.0040 0.0026 0.0026 16,150,849
2012/02/28 0.0020 0.0035 0.0020 0.0027 5,277,983
2012/02/27 0.0025 0.0025 0.0025 0.0025 83,000 0.0025
2012/02/24 0.0020 0.0030 0.0020 0.0027 3,903,370
2012/02/23 0.0032 0.0032 0.0020 0.0029 289,600
2012/02/22 0.0018 0.0035 0.0012 0.0029 2,061,720
2012/02/21 0.0015 0.0018 0.0015 0.0018 2,251,899
2012/02/20 0.0012 0.0015 0.00010 0.0015 6,716,377
2012/02/17 0.0012 0.0015 0.0012 0.0015 6,716,377
2012/02/16 0.0014 0.0015 0.0011 0.0013 4,368,111
2012/02/15 0.0013 0.0013 0.0011 0.0013 1,445,111
2012/02/14 0.0013 0.0013 0.0010 0.0013 272,500
2012/02/13 0.0016 0.0016 0.00090 0.0014 2,165,000
2012/02/10 0.0012 0.0015 0.00090 0.0015 2,101,030
2012/02/09 0.0011 0.0012 0.0011 0.0012 885,000
2012/02/08 0.0012 0.0015 0.00090 0.0012 6,198,975
2012/02/07 0.0011 0.0012 0.0011 0.0012 530,000
2012/02/06 0.0011 0.0017 0.00080 0.0012 8,544,000
2012/02/03 0.0015 0.0016 0.0011 0.0016 5,817,000
2012/02/02 0.0015 0.0015 0.0015 0.0015 - 0.0015
2012/02/01 0.0016 0.0016 0.0013 0.0015 471,180
2012/01/31 0.0014 0.0016 0.0013 0.0016 1,045,252