run RUN from SBRI have been an SBR holder back in early 2016. I bought because of its impressive high grade reserve.
I sold because of this statement.
extend the maturity dates of their outstanding convertible notes from March 31, 2017 to December 31, 2017 (the "Note Extension").
They have been issuing this ''note extension'' press release every 6 months, for a few years now.
This ''note extension'', is of extreme concern to shareholders, and I believe should cause any shareholder to sell upon inspection of its terms.
Look in the corner of the SBR stockhouse site and see the 162 million outstanding shares. When you read the terms of the ''note extension'', you realize that figure expands to over 450 million shares, when the note is converted to shares.
Basically, mangement keeps pushing out the extension date, -they have been doing this for years- until they can lure more in shareholders at a higher price, so to blow out the share count for themselves at a higher profit.
Scummy tactics like this should make you RUN from this russian company