Replies to post #69853 on Sustainable Green Team Ltd. (SGTM)

[b4atf]

Nice find renee! That is where our pps went. I wonder if there will be a claw back for us in a settlement.

I bet Grant Galloway was involved in that.

b4

30.Since August 2009, Defendants have engaged in similar illegal resales ofthe stock of over one hundred other companies. In the aggregate, Defendants have entered into hundreds oftransactions, involving the sale ofbillions of shares to the investing public, without a registration statement being filed or in effect and with no valid exemption from registration available for Defendants' sales of securities. The following table summarizes the transactions by Defendants in the stock acquired from just ten ofthese issuers during the two-year period August 2009 to August 2011 :

Sierra Gold Corp. SGCP

Acquisition period: 8/09-4/11
Resale period 9/09-5/11
Number of transactions: 30
Number of shares defendants illegally sold: 1.1 billion
Gross proceeds from resales: $1,713,000
Net Profits: $836,000

[BakerBoy]

Very Interesting.... Now if the smartest person in the room could share what this means to SGCP going forward. In effect were these shares sold short and need to be repurchased? Will any money recovered go to SGCP or shareholders? Will lassie get back in time to save Timmy? Any ideas?

[mdb1]

All confidence in SGCP mgt is lost if there is an SEC investigation of SGCP and a share scam. Great.

[CancunCharlie]

Renee, EXCELENT DD and thanks for sharing it!

I have a nagging question though....

This SEC document says:
Sierra Gold Corp. SGCP

Acquisition period: 8/09-4/11
Resale period 9/09-5/11
Number of transactions: 30
Number of shares defendants illegally sold: 1.1 billion
Gross proceeds from resales: $1,713,000
Net Profits: $836,000
************

1.1 BILLION?? isn't that half our float? Doesn't that sound almost impossible? How could these guys get their hands on THAT MANY shares?

it just sounds odd to me and thought I'd ask for opinions...

Charlie

[SilverEagle]

WOW SGCP is a victim of illegal dilution?
Huge news!!!
Can these illegal shares retired? Hmmm... ;-)

Giddy up. IMO


=================

Sierra Gold Corp. SGCP

Acquisition period: 8/09-4/11
Resale period 9/09-5/11
Number of transactions: 30
Number of shares defendants illegally sold: 1.1 billion
Gross proceeds from resales: $1,713,000
Net Profits: $836,000

[Renee]

SGCP: DTCC:

http://dtcc.com/downloads/legal/imp_notices/2012/dtc/ope/1238-12.pdf

DTC has suspended all services, except Custody Services, for the below referenced issues. The suspensions are effective August 29th, 2012.

CUSIP...... SECURITY NAME

826315103 Sierra Gold Corp SGCP

Links to SEC releases:

http://www.sec.gov/litigation/litreleases/2012/lr22457.htm

http://sec.gov/litigation/complaints/2012/comp-pr2012-165.pdf

[12thman]

So who gets this "disgorgement" money? SGCP, it's shareholders(who were harmed the most), or the SEC? I figured out the illegal profits, it would be .00076 per share of the 1.1 billion illegally sold, or .0003 per share of each outstanding share. Or do the market makers have a responsibility to buy back the 1.1 billion with that money and take them off the market since they participated in the sales? Things that make you go HMMMMMMMMMMMMMMMMMMMM... ;-)

[bigman7100]

bang,

They are in trouble, i would not touch this stock with a twenty foot pole. "STINKY PINKY"