Money4Gold’s revenue during the third quarter of 2009 increased to $6,862,012 as compared to $1,490,560 during the second quarter of 2009. Their gross margin during the third quarter of 2009 increased to 70% as compared to 58% during the second quarter of 2009. Ending the third quarter of 2009 with cash on hand of $501,030, as compared to $23,393 on hand at June 30, 2009.
In September 2009, a relative of the Chief Financial Officer converted 25,000 shares of the Series B Preferred Stock into 1,695,754 shares of common stock. Also in September 2009, 2,200,000 shares of the Series A Preferred Stock were converted into 2,200,000 shares of the common stock of which (i) 950,000 shares were converted by a family member of our Chief Financial Officer and (ii) 1,250,000 shares were converted by a third party shareholder. The outstanding principle balance of $500,000 on their media line of credit, along with all of the related accrued interest, was converted into 5,834,306 shares of their common stock.
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American Sierra Gold Corp. is an independent gold exploration company headquartered in
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