Replies to post #46509 on Southridge Enterprises Inc (SRGE)

[nodummy]

The Alex Smid debt - all in the filings


You need to read the filings better - links provided to help you out


http://www.sec.gov/Archives/edgar/data/1303361/000114420408051046/v125447_10qsba.htm

On December 03, 2007, the former President Mr. Smid loaned the Company $610,000 in order to establish a Letter of Credit for our ethanol purchase from Brazil. The loan bears an interest at the rate of 4% per annum and is secured by a Demand Promissory Note and/or can be converted into common stock at any time. The Company also drew down $424,999.19 from its Letter of Credit to secure the ethanol purchase transaction. In addition, Rockridge Capital Holdings Corporation loaned the Company $1,500,000 to secure our contribution for the “SBC Joint Venture”, with Briskul Transacção LTDA. The loan bears an interest at the rate of 14% per annum and is secured by a Demand Promissory Note and/or can be converted into common stock at any time.





You can follow that debt through the filings after that as it has gotten bigger and bigger accumulating more and more interest - again links provided to help you out


http://www.sec.gov/Archives/edgar/data/1303361/000114420408051046/v125447_10qsba.htm





http://www.otcmarkets.com/financialReportViewer?symbol=SRGE&id=55108







http://www.otcmarkets.com/financialReportViewer?symbol=SRGE&id=81362