Southridge Enterprises Inc (PINK:SRGE) Closing the Deadline

Southridge Enterprises Inc (PINK:SRGE) has postponed the filing of its annual report twice already. The anticipated report should be filed today.

Yesterday SRGE closed up 33.93% at $0.0075, after it issued a press release claiming they had signed an “agreement with major NYSE listed mining company.” The title is a bit more exciting than what the release actually says.

Supposedly, SRGE has signed a Confidentiality Agreement with an unnamed company. The announcement doesn’t reveal any details, so the public is left with nothing more than a vague hype message.

While the annual report won’t shed any light on that matter, shareholders are eager to see it, because SRGE has been bragging about record production and revenues since early September. The fiscal year end of SRGE is Aug. 31.

First the company said it would be filing the report on Nov. 23. On that date instead of a financial report, shareholders got a press release saying SRGE had changed its legal representation, and the report would be filed the following week. A week later, there was a filing, except it was a notification of late filing which gave SRGE another 15 calendar days to file its annual report.

Today is the last day SRGE can file the report before the deadline expires. Changing the legal counsel may have been a good idea, but the timing wasn’t. The fact that SRGE hasn’t named their new legal counsel and there is no filing about it doesn’t help. OTC Markets still lists Carrillo Huettel.

If SRGE files the report today, it would be a step in the right direction, but the company has a long way to go if it wants shareholders to believe their claims.