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Is this a great stock or what?
My birthday is later this month.
Anybody up for baking me a big chocolate cake?
jmo
scorpio70
(The Elmira Oracle)
STOCKFIRE409 FOR CEO AND PRESIDENT!!!
He's won my heart and vote!
Avg Volume 1.09M
Now that's some serious cheddar!
I'm dusting off my moon suit!!!
jmo
scorpio70
(The Elmira Oracle)
I see that 'shorty' still has an incredible vested interest in this one too.
Now why exactly would that be?
Volume: 2,000,000
Volume explodes yet again!!!
scorpio70 stated, "During the course of this week, we will be providing our shareholders with updates on this and any other deal that has been completed. We will also provide a detailed explanation of the SLJB corporate structure and other questions sent to us by our shareholders. We will be doing this through our press releases. scorpio70 is committed to the success of SLJB and will work to regain our shareholders' confidence over the coming weeks."
This may contain forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company makes every effort to update the marketplace relative to SLJB and similar companies in order to keep shareholders apprised of changes and/or new developments in the marketplace. Although the company makes every effort heretofore mentioned, the company cannot be responsible for omitting or failing to cover all aspects of an investor's reliance upon forward-looking statements. We also earnestly suggest that all potential investors contact a qualified investment consultant in the securities industry in order to aid them in making a sound investment decision.
jmo
scorpio70
(The Elmira Oracle)
I live about 45 minutes from South Lyon, and I'd drive down there to see the awesome business that's going to make this stock skyrocket if I believed it for one second and if there were actual interested buyers in this scam.
A. GT Contracting is in 'South Lyon' with Mr Steve Sulja in charge.. So it would take you 45 minutes just to get THERE eh? hmmm...I see.
B. Sulja Brothers is in Harrow, Ontario about 35 minutes from Detroit. Drive back there again and tell me what it says on street and main showrooms. You might wanna get out and talk to everyone there.
C. LOL...and here I thought I was the king of run on sentences.
D.The Sulja family controls 600 million of the 800 million A/S issued. Why would they risk losing a 25 year reputation in the community?
E. I honestly don't think you own a single share. Sorry.
F ROFLMAO
G This is what we call a simulated post designed to create an air of believability and hesitation in the reader's mind.
jmo
scorpio70
(The Elmira Oracle)[/b[
Wrong....Mr Petar Vucicevich was never technically CEO.
He was given a three year weekend sentence in a detention facility.
Thats usually enough for sane investors to recognize that their money was stolen
Can you show me any proof that he used company shares for his own personal gain?
lol...I didn't think so.
jmo
scorpio70
(The Elmira Oracle)
ROFLMAO...Unfortunately there remain a few holdouts
Excuse me... but WHY would it be UNFORTUNATE for there to be ANY holdouts??
I own slighly over 15% of the free trading float and I'm a long term holder and not some penny trader.
I heartily encourage all holders of SLJB/LFWK to hold until the stock reaches full valuation with a generous price multiple.
Or was I supposed to flip it back when it was twenty cents?
jmo
scorpio70
(The Elmira Oracle)
This particular PR assuming it came to pass (and no one has disproved its accuracy) would make SLJB/LFWK one of wealthiest over the counter stocks in the world.
You'll note the spelling of Fasl and the correct spelling Fadl.
Was this intentional on their part or simply another PR that was tampered with by unseen forces?(IMO)
SLJB Announces Success in the Middle East
WINDSOR, ON -- (MARKET WIRE) -- December 11, 2006 -- Sulja Bros. Building Supplies, Ltd. (PINKSHEETS: SLJB) -- An SLJB spokesperson today stated; "We are pleased to announce the successful completion of a cement deal in the Middle Eastern region. We have successfully brokered a deal totaling 25,200,000 tonnes over the span of three years. The buyers have agreed to take delivery of 8,400,000 tonnes per year commencing immediately once the buyer completes their banking documents. These documents should be finalized later this week."
SLJB's lawyer in Lebanon, Fasl Abu Zahr (Lawyer ID Number 9598), has registered all relevant commission agreements with the Seller, the Sellers banking institution, and Government bodies.
CEO Steve Sulja stated, "Sam Sulja has returned from the Middle East after visiting Jordan, Lebanon, and Dubai to finalize this deal. Sam along with other key members of SLJB have been working on this and other similar deals in the region for the past few months. It is nice to see this deal come to a successful final completion considering previous deals we were working on did not finalize." He continued; "Our commission agreement guarantees us $0.90 USD per tonne. Complete details of this deal will be made available to our shareholders once the Buyer's banking documents are released to us. At that time the terms of our mutual NCND agreement will be fulfilled by all parties involved and we will be in a legal position to release the names of all those involved."
CEO Steve Sulja also stated, "During the course of this week, we will be providing our shareholders with updates on this and any other deal that has been completed. We will also provide a detailed explanation of the SLJB corporate structure and other questions sent to us by our shareholders. We will be doing this through our press releases. We are committed to the success of SLJB and will work to regain our shareholders' confidence over the coming weeks."
This may contain forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company makes every effort to update the marketplace relative to SLJB and similar companies in order to keep shareholders apprised of changes and/or new developments in the marketplace. Although the company makes every effort heretofore mentioned, the company cannot be responsible for omitting or failing to cover all aspects of an investor's reliance upon forward-looking statements. We also earnestly suggest that all potential investors contact a qualified investment consultant in the securities industry in order to aid them in making a sound investment decision.
Pretty impresive eh?
FADL ABU ZAHR
Owner, ossama abu zahr law office
Location
Lebanon
Industry
Legislative Office
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FADL ABU ZAHR's Overview
Current Partner Manager at ossama abu zahr law office
Education Beirut Arab University
Connections 32 connections
FADL ABU ZAHR's Summary
Handle any complex legal and factual disputes in order to resolve difficult regulatory and business problems
FADL ABU ZAHR's Experience
Partner Manager ossama abu zahr law office
July 2002 – Present (12 years 4 months)
FADL ABU ZAHR's Education
Beirut Arab University BA, FACULTY OF LAW
1998 – 2002
Activities and Societies: Scouts,NJO'S
FADL ABU ZAHR's Additional Information
Groups and Associations: AEA INTERNATIONAL LAWYERS NETWORK
jmo
scorpio
(The Elmira Oracle)
Volume: 900,000 @ 10:38:53 AM ET
Volume continues to go on a rampage.
This was one of the last PR's they wrote for SLJB/LFWK before they understood the overwhelming odds of not having their PR's tampered with or deleted.
SLJB CEO Set to Travel: Alberta Boom Thought a Potential Target for Satellite Outlet
Last Update: 6:00 AM ET Apr 18, 2007
LAS VEGAS, NV, Apr 18, 2007 (MARKET WIRE via COMTEX) -- Today, SLJB (PINKSHEETS: SLJB) announced that the Company's CEO Steve Sulja will travel to Alberta and nearby areas with a few trusted advisors to meet with contractors known to the SLJB business and others to explore the idea of opening a satellite in the region, and also to meet with the area mill representatives and owners to discuss and negotiate metric dimensional lumber production; a highly sought after commodity in regions beyond North America. So high is the request for said commodity among foreign markets, that the feasibility of supply is compulsory for the consideration of the Company and its future logistics. Mr. Sulja's trip is tentatively planned for next week.
"It is no big secret that Alberta is booming in terms of construction, infrastructure, and base-level economic staples consumption. This region is one of North America's most aggressively growing areas in every measurable way. I'd like to see if SLJB can be a part of that (growth) and if the products and services we provide can benefit the company and the area," said Sulja.
Alberta's Premier, Mr. Ed Stomach, has gone as far to say that Alberta's economy has again reached the prominence of being "the driving force behind the economy of all Canada." Mr. Stelmach has dedicated the lion's share of his tenure as Premiere to managing this explosive economy in terms of its impact on future generations of Albertans.
Although there is nothing mandating the move to Alberta, Sulja is hopeful that the trip will bear positive light on the opportunity for SLJB. Shareholders will be kept apprised of any and all developments concerning this possible venture.
Note the deliberate spelling of Mr Stelmach's name.
This was a source of endless deliberate ridicule. (IMO)
Now this particular PR came out on the morning of the price raid that knocked the price down nine cents or so virtually instantly back in November of 06.
SLJB audit delay linked to a possible buyout? According to Reuter’s news source Emaar obtains CitiGroup $1 BILLION dollar financing for property and building expansion abroad.
Emaar already bought John Laing homes in California and needs building supplies to furnish its growth, and of particular interest is its US growth through newly acquired John Laing Home Builders a large California based builder. As a back door entry play, investors are buying up shares of Sulja Bros Building Supplies which has been a supplier for Emaar Properties construction projects and other projects in the middle east. The versatility of SLJB is its ability to supply both the US and Middle East with building supplies due to its strategic locations and in-place supply arrangemenets with countries around the world.
Investors in Sulja Bros Building Supplies (SLJB)PK are contemplating two things: A possible buyout at a premium by Emaar and a delay in stamped audited results from internationally known KPMG and Price Waterhouse auditors.
Sulja already posted and announced its in-house auditor’s results for year end 2006 which was in May 2006 as being net earnings (pre-tax) of over $26 million dollars or .052 cents per share. The stock is currently trading at only a multiple of around 2x those earnings until the KPMG stamp is announced and more is known about the buyout possibility by Emaar.
Reuters news source report dated today 11/16/06:
UAE news source report 11/16/06
It was subsequently deleted that morning as the powers that be had it almost immediately deleted.(IMO)
jmo
scorpio70
(The Elmira Oracle)
According to my chart analysis the Bollinger bands are about to be violated.
Volume: 400,000 @ 12:09:38 PM ET[/b[
ROFLMAO....I suppose you might have a very very long wait ahead of you....
CONSIDERING HOW LONG ITS BEEN ALREADY.
SLJB Announces Internal Review of Prior Public Disclosure and Other Matters; Also Discusses Actions by Ontario Securities Commission and Inquiry by U.S. Securities and Exchange Commission
WINDSOR, ON -- (MARKET WIRE) -- January 10, 2007 -- Sulja Bros. Building Supplies, Ltd. (Nevada) (PINKSHEETS: SLJB), today announced that, in consultation with outside counsel, it is undertaking a review of various issues relating to the issuance and trading of its common stock, as well as the accuracy of its prior public disclosures. Given the early stage of this review, the Company is unable to provide any further information regarding these matters, but cautions investors not to rely upon the press releases and other public statements previously issued by or on behalf of the Company.
The Ontario Securities Commission (OSC) has commenced an enforcement proceed against the Company, the Company's affiliate Sulja Bros. Building Supplies Ltd. (Ontario), the Company's former Chief Executive Officer Peter Vucicevich, Kore International Management Inc. (a company affiliated with Mr. Vucicevich) and Andrew DeVries (who was formerly associated with the Company). The OSC alleges, among other things, that Messrs. Vucicevich and DeVries engaged in manipulative trading in the Company's stock and that the Company made representations in certain press releases that were not true. A copy of the Statement of Allegations issued by the OSC can be found at http://www.osc.gov.on.ca/Enforcement/Proceedings/SOA/soa_20061227_suljabros.pdf . On December 22, 2006, the OSC ordered the cessation of trading in the Company's securities for 15 days and, on January 8, 2007, that order was extended until March 23, 2007 The Company did not oppose the continuation of this order and is cooperating with the OSC, but cannot at this time comment on the substance of the OSC's allegations or on the impact of the OSC's order on the trading of the Company's common stock in the United States.
The U.S. Securities and Exchange Commission (SEC) has also informed the Company that the SEC is conducting an inquiry into the matters that are the subject of the OSC proceeding. The Company is cooperating with the SEC.
For the foreseeable future, the Company does not intend to respond to requests for information from shareholders or other interested parties except to refer them to this press release and any subsequent releases issued by the Company. The Company will provide any updates as to the matters referred to herein through broadly disseminated press releases, but cannot predict when it will make any such updates. Investors should not rely on any statements purporting to be by or on behalf of the Company other than those contained in this release or any future press releases issued by the Company.
Except for the historical information herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. When used in this press release, the words: believes, intends, anticipates, expects, predicts and similar expressions are intended to identify forward-looking statements. Actual results could differ materially from those expressed in, or implied by, the forward-looking statements based on a number of factors, including, but not limited to, costs, risks and effects of the on-going review by the Company, including the impact on the Company's ability to provide timely information as to the Company's business, operating results and financial condition; costs, risks and effects on the Company's business and the trading of its stock of legal proceedings and investigations, including the enforcement proceeding commenced by the OSC and the inquiry being conducted by the SEC; and the impact of the OSC order that trading in the Company's securities cease. Except as expressly required by the securities laws, the Company undertakes no obligation to update such factors or to publicly announce the results of any of the forward-looking statements contained herein to reflect future events, developments, or changed circumstances, or for any other reason.
jmo
scorpio70
(The Elmira Oracle)
Anticipation continues to build for opening bell tomorrow. IMO
jmo
scorpio70
(The Elmira Oracle)
WHY would a corporation during the time period when it's INACTIVE leave itself exposed to any potential civil or criminal charges?
'Permanently revoked' is a term used in Nevada business law to describe non payment of yearly filing fees after a period of five years. This occured several years ago.
As I said before... it can be immediately made active by applying again to the Nevada SOS and paying a filing fee of $2200.
This is just basic business law 101. Reduced cost and no liabilty issues.
jmo
scorpio70
(The Elmira Oracle)
Revoked status is a benign term used for certain corporate tax and liability issues.
One can make it active again at any time simply by reapplying to the Nevada SOS and paying a small filing fee.
Here's a link that might be of interest. A simple google search of the term revoked will give one all the information.
http://www.justanswer.com/law/79rs7-happens-let-corporation-go-revoked-status.html
I hope this is of help.
jmo
scorpio70
(The Elmira Oracle)
I'm traveling 'north' soon on a fact finding mission.
I hope I'll be able to match shots with the elder Sulja again.
Please submit any questions or comments you might wish to see answered.
Please understand the limits on which I can give info to report here.
I wouldn't want to violate TOS rules on IHUB! And...
I really don't want to be wanted by the OSC...SEC...the Royal Canadian Mounted Police...the FBI...and the DOJ any more than I am already.
In the words of the immortal 'Airys418'....'let's keep it clean guys.'
ROFLMAO
jmo
scorpio70
(The Elmira Oracle)
According to my chart analysis the Bollinger Bands are about to get violated.
Do you concur?
jmo
scorpio70
(The Elmira Oracle)
Is this a great stock or what?
jmo
scorpio70
(The Elmira Oracle)
There are no SLJB shorts
Day's Range
0.0001 - 0.0001
What do you think shorty really had to pay for those shares?
BAHAHAHAHAHAHA
jmo
scorpio70
(The Elmira Oracle)
Volume: 683,257
I guess we'll just have to agree to disagree.
Now how bout that volume...and lil' Derek Jeter
ROFLMAO
jmo
scorpio70
(The Elmira Oracle)
'Elivs' ......commone'??
Well...news of shorty's demise might have been a lil' premature.
Let's just say we're all growing a lil' sore in the saddle. ROFLMAO
Remember the goal here isn't buying but rather HOLDING.
Although... I do plan on letting shorty have a few shares in tribute for their trouble when this hits a buck.
Maybe.
jmo
scorpio70
(The Elmira Oracle)
VOLUME CONTINUES TO EXPLODE!!!
...as shorty catches the last train for the coast.
Volume: 683,257 @ 12:18:12 PM ET
jmo
scorpio70
(The Elmira Oracle)
And the Canada Revenue Agency too.
ROFLMAO....well...it's a good thing he lives in the good old US of A.
What does he owe Canada??
http://www.dleg.state.mi.us/bcs_corp/image.asp?FILE_TYPE=ELF&FILE_NAME=D200712\2007351\E0133845.TIF
jmo
scorpio70
(The Elmira Oracle)
I think Attorney Dan Scott of Windsor said to me once upon a time a few years ago best.
'scorp's... right now SLJB/LFWK is a public shell company...it'll be a few more years before they do anything with it.(IMO)
Or...as Mr Steven Sulja said...
'scorp's... it would be illegal for me to give you any material news before releasing it first by PR for the masses.(IMO)
I guess we'll just have to be patient and see what develops.
Meanwhile...it's never too late to see if your full service broker can be of service to you in finding any shares. I don't believe any brokerage even accepts an online order. LOL...gotta risk speaking to a live voice and as someone warned you...'be laughed at'.
LMAO
jmo
scorpio70
(The Elmira Oracle)
Nothing?....ROFLMAO
Can YOU prove GT Contracting doesn't have anything to do with SLJB/LFWK?
Meanwhile...uh ohh....I think we have another fire in the house that needs extinguishing.
BROOKWAY CONTRACTING, LLC
MICHIGAN DOMESTIC LIMITED-LIABILITY COMPANY
Data Updated April 17, 2014
Brookway Contracting, LLC is a Michigan Domestic Limited-Liability Company filed on September 5, 2012. The company's filing status is listed as Active and its File Number is D8190Q.
The Registered Agent on file for this company is Steven Sulja and is located at 21204 Pontiac Trail Unit # 6 South Lyon, MI 48178.
BROOKWAY CONTRACTING, LLC
ID Num: D8190Q
Name:BROOKWAY CONTRACTING, LLC
Type: Domestic Limited Liability Company
Resident Agent: STEVEN SULJA
Registered Office Address: 21204 PONTIAC TRAIL UNIT # 6 SOUTH LYON MI 48178
Mailing/Office Address:
Formation/Qualification Date:9-5-2012
Jurisdiction of Origin:MICHIGAN
Managed by: Members
jmo
scorpio70
(The Elmira Oracle)
The excitement continues to build.
Gt Contracting LLC
21204 Pontiac Trl Unit 6
South Lyon, MI 48178-9403
Phone: 734-358-6084
Website: www.gtcontracting.co
Number of Employees: 8
Annual Receipts: $3,000,000
In Business Since: 2012
Contact Person: Steven Sulja
Email: Steven@gtcontracting.co
http://www.dleg.state.mi.us/bcs_corp/dt_llc.asp?id_nbr=D8806X&name_entity=GT%20CONTRACTING%20LLC
http://gtcontracting.co/
jmo
scorpio70
(The Elmira Oracle)
Let's call her and ask her what's up?
http://www.tciwindsor.com/
Leslie Budway
--
Location
Canada
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Leslie Budway's Overview
Current Account Manager at TCI Titan Contracting Incorporated
Connections 6 connections
Leslie Budway's Experience
Account Manager TCI Titan Contracting Incorporated
April 2010 – Present (4 years 6 months) Windsor, Ontario
We should all be this lucky to land a job and promotion in the industry so quickly.
ROFLMAO
jmo
scorpio70
(The Elmira Oracle)
ROFLMAO...'Brokers laugh'
So?...seriously??...ohhh puhleeze!...heaven forbid!!!
LOL...true story.
When I bought my first large multi thousand investment in SLJB/LFWK the broker said nada. But by the time it was at around .08 cents on its way to .205 intraday I had pressed the bet to around $40,000 dollars. My broker executed all my trades wordlessly aside from muttering good luck or something equivalent.
About this time I got a panic phone call from the head of our (Brokerage Unknown)...but if you can decode (SM) maybe that'll give you a clue. Gotta obey the TOS and I'd hate to see this mindleesly deleted.
Anyways...he spent a good half hour 'reaming' me about how all penny stocks were poor plays. He finally went on to get this...FORBID me... from buying any more SLJB and ANY penny stock for that matter ever again.
Keep in mind just days before signing my name that said I was responsible for my own investment decisions and said I would entertain extrememly risky investments on a scale of from 1 to 5 with 5 being the most risky.
I wanted to make sure they wouldn't screw with my plans to invest in SLJB. At the time it was widely reported that LFWK had been extremely shorted ( cough cough...NAKEDLY... and that a major brokerage with one of their hedge funds was in deep doo doo.
To make a long story short I later went on to increase my shares to 30 million at deeply discounted prices. It took some time to get orders filled but I did it with a discount brokerage online.
For that I owe a sincere thank you to the 'naysayers' over the years for making shares so afordable.
I guess as my dad used to say when I hit a lousy tee shot...'every stroke pleases somebody'. Then he'd usually turn the golf cart key in reverse and make that continuous beeping noise while I teed up a mulligan all the while swearing profusely. He would dissolve into laughter as I usually buried another shot into the water or woods.
God I miss him.
jmo
scorpio70
(The Elmira Oracle)
Can anyone here please explain the exact dynamics of how an investor interested in buying shares of SLJB aka LFWK would go about it.
Generally, I just refer those curious to their full service broker for help.
But I spose that really isn't the full answer.
I'm guessing there's probably around 90 shopping days till X-mas.
And please... IMO...don't forget the grandkids.
jmo
scorpio70
(The Elmira Oracle)
ROFLMAO.....'little associated companies'
Well I gotta say...at least we're making progress. You now at least acknowledge that there's other companies involved with the Sulja name.
Do you remember the days when Mr Steve Sulja was described as just an itinerant worker doing menial labor to keep his family fed?
According to my list we now have...
GT Contracting
Brookway Contracting
Premium Building Supplies
International Venture CCT Inc.
International Door in Harrow
Multitech International
Get ready for the ((((MOARM))))).
Yes...that's correct...THE MOTHER OF ALL REVERSE MERGERS!!!
lololololissimo's
cough cough ahem...sorry...sometimes I can't help giggling.
jmo
scorpio70
(The Elmira Oracle)
LOL...not so fast...
Michigan Corporate Dissolution Law
Corporate Forms and Services - Incorporation, LLC
Easy Order Incorporation Package, LLC Formation. Visit the Corporate Center for hundreds of Corporate forms.
Corporations – Corporate Dissolution – Michigan
Related Michigan Legal Forms
Michigan Dissolution Package to Dissolve…
Statutory Reference:
MICHIGAN COMPILED STATUTES §§450.1801-450.1846 and §450.1488.
General Discussion:
A Michigan corporation may be dissolved:
1. By the automatic expiration of its period of duration as set forth in the Articles of Incorporation;
2. By the incorporators or directors;
3. By the board and the shareholders;
4. Pursuant to a shareholder agreement;
5. By a judgment of the circuit court;
6. Automatically for failure to file an annual report or pay the filing fee; OR
7. By court order in receivership or bankruptcy proceedings.
THIS FORM PACKAGE ADDRESSES ONLY WITH THE VOLUNTARY DISSOLUTION OF A MICHIGAN CORPORATION BY THE INCORPORATORS AND DIRECTORS, THE BOARD AND THE SHAREHOLDERS, AND/OR PURSUANT TO A SHAREHOLDER AGREEMENT.
For a corporation to voluntarily dissolve by its incorporators or directors, the corporation must:
(1) have not commenced business;
(2) have not issued any shares;
(3) have not debts or liabilities; and,
(4) have not received payment for any of its shares (or, if it has received payment for shares, it has returned those payments)
A majority of the incorporators or directors may file a Certificate of Dissolution affirming the above requirements and stating that a majority of the incorporators or directors have elected that the corporation be dissolved.
A corporation may also be dissolved by its board and shareholders.
The Board must propose and recommend dissolution to the shareholders. In the alternative, the Board may determine that it has a conflict of interest or that special circumstances exist which dictate that no recommendation can be made. In this case, the Board must tell the shareholders the basis for its determination. The Board may condition its proposal for dissolution on any basis.
The Board’s proposed dissolution is then submitted to the shareholders at a duly noticed shareholder meeting. All shareholders, whether entitled to vote on the Board’s recommendation or not, shall be notified of the meeting. Notice shall be timely given and the Notice shall state that one purpose of the meeting to vote on the dissolution of the corporation.
The shareholders vote on the proposed dissolution at the meeting. The proposal must be approved by the holders of a majority of the outstanding shares of the corporation entitled to vote.
If the dissolution is approved, a Certificate of Dissolution is filed.
Finally, if there is a shareholder agreement regarding dissolution that complies with §450.1488 of the Michigan Business Corporation Act, then the Shareholders can dissolve the corporation.
The corporation is dissolved when the Certificate of Dissolution is filed with the Michigan Department of Consumer and Industry Services. However, the corporation’s existence is continued for the purpose of “winding up” the affairs of the corporation.
During the winding up period, the corporation may only:
1. Collect its assets.
2. Sell or otherwise transfer assets which are not to be distributed in kind to its shareholders.
3. Pay its debts and other liabilities.
4. And do all other acts incident to liquidation of the corporations business and affairs.
During the winding up process of a dissolved corporation, its officers, directors and shareholders continue to function in the same manner as if dissolution had not occurred and title to the corporation’s assets remains in the corporation’s name until they are transferred. Shares may be transferred and the corporation may sue and be sued in its corporate name. Dissolution does not abate actions brought against the corporation prior to dissolution.
Corporate dissolution does not change quorum or voting requirements for the board or shareholders, and does not alter provisions regarding election, appointment, resignation or removal of, or filling vacancies among, directors or officers, or provisions regarding amendment or repeal of bylaws or adoption of new bylaws.
A dissolved corporation should notify its claimants/creditors in writing of the dissolution of the corporation. This may be done at any time after the effective date of the dissolution. The written notice MUST include:
1. A description of the information that must be included in a claim;
2. A mailing address where a claim may be sent;
3. The deadline [not be less than 6 months from the effective date of the written notice which is the earliest of the following: (a) the date it is received, five days after its deposit in the United States mail, as evidenced by the postmark, if it is mailed postpaid and correctly addressed, or the date shown on the return receipt, if the notice is sent by registered or certified mail, return receipt requested, and the receipt is signed by or on behalf of the addressee] by which claims must be received; AND
4. A statement that the claim will be barred if not received by the deadline.
Giving of notice to claimants/creditors does not constitute and admission that a person to whom the notice is directed has a valid claim against the corporation.
A claim against the dissolved corporation is barred:
1. If a claimant who was given written notice does not deliver the claim to the dissolved corporation by the deadline, OR
2. If a claimant whose claim was rejected by a written notice of rejection by the dissolved corporation does not commence a proceeding to enforce the claim within 90 days from the effective date of the written notice of rejection.
A dissolved corporation should also publish notice of dissolution. This may be done at any time after the effective date of dissolution. The published notice MUST:
1. Be published 1 time in a newspaper of general circulation in the county where the dissolved corporation’s principal office, or if there is no principal office in this state, its registered office, is or was last located.
2. State that a claim against the corporation will be barred unless a proceeding to enforce the claim is commenced within 1 year after the publication date of the newspaper notice.
If the dissolved corporation publishes a newspaper notice, the following claimants are barred from pursuing claims UNLESS the claimant commences a proceeding to enforce the claim against the dissolved corporation within 1 year after the publication date of the newspaper notice:
1. A claimant who did not receive written notice from the corporation;
2. A claimant whose claim was timely sent to the dissolved corporation but not acted on.
3. A claimant whose claim is contingent or based on an event occurring after the effective date of dissolution. PROVIDED, HOWEVER, a claimant having an existing claim known to the corporation at the time of publication of the notice, and who did not receive a written is not barred from commencing a proceeding until 6 months after the claimant has actual notice of the dissolution.
“Before making a distribution of assets to shareholders in dissolution, a corporation shall pay or make provision for its debts, obligations, and liabilities. Compliance with this section requires that, to the extent that a reasonable estimate is possible, provision be made for those debts, obligations, and liabilities anticipated to arise after the effective date of dissolution. Provision need not be made for any debt, obligation, or liability that is or is reasonably anticipated to be barred under section 841a or 842a. The fact that corporate assets are insufficient to satisfy claims arising after a dissolution does not create a presumption that the corporation has failed to comply with this section. Adequate provision is deemed to have been made for any debt, obligation, or liability of the corporation if payment has been assumed or guaranteed in good faith by 1 or more financially responsible corporations, persons, or the United States government or agency of the United States government, and the provision, including the financial responsibility of the corporations or other persons, was determined in good faith and with reasonable care by the board to be adequate. After payment or adequate provision has been made for the corporation’s debts, obligations, or liabilities, the remaining assets shall be distributed, except as otherwise provided in this section, in cash, in kind, or both in cash and in kind, to shareholders according to their respective rights and interests. A shareholder beneficially owning less than 5% of the outstanding shares may be paid in cash only, even if a shareholder beneficially owning 5% or more of the outstanding shares receives a distribution in kind, if the ownership of all shareholders receiving cash instead of distributions in kind without their written consent does not exceed 10% of all outstanding shares.” Michigan Compiled Laws, §450.1855a.
A corporation must obtain a tax clearance from the Michigan Department of Treasury. The Certificate of Dissolution cannot be filed unless it is accompanied by the tax clearance.
Note: All Information and Previews are subject to the Disclaimer located on the main forms page, and also linked at the bottom of all search results.
Related Michigan Legal Forms
Michigan Dissolution Package to Dissolve Corporation
jmo
scorpio70
(The Elmira Oracle)
Thanks much 'indepth' for that link.
I had it once but had lost it through the years.
Any chance anyone else might know what CCT stands for in International Venture CCT Inc?
I found Murtaza Gurmani with Multitech International in Livonia.
As Leslie Budway of 'English the Budway' would joke to me...'Steve always spoke that funny language when Murtaza was around so I wouldn't know what they were talking about'.
jmo
scorpio70
(The Elmira Oracle)
Can anyone tell me what the CCT stands for in International Venture CCT Inc?
32400 Plymouth Road
Livonia
MI 48150-1712
Phone: (734) 425-3733
Category: Commercial and Office Building Contractors
Company representatives
Steve Sulja, President
Location Type
Single Location
Revenue
$3,750,000 - $4,000,000
Employees
8
Years In Business
6
State of incorporation
Michigan
SIC code
1542 (General Contractors-Nonresidential Buildings, Other than Industrial Buildings and Warehouses)
NAICS code
236220 (Commercial and Institutional Building Construction)
jmo
scorpio70
(The Elmira Oracle)
LoftWerks/Sulja Bros (LFWK) Announces Appointment of Interim President
WINDSOR ON -- (MARKET WIRE) -- June 2, 2006 -- LoftWerks CEO (PINKSHEETS: LFWK) Steve Sulja announces today the appointment of Direct General of Consultech Construction Management Inc.'s Director General Petar Vucicevich as Sulja Bros. Interim President. In his statement, Mr. Sulja says, "Leo Meloche has temporarily resigned from the position of President of Sulja Bros. to allow for a smoother transition of the Sulja/LoftWerks vehicle for its eventual merger with Consultech's Midwest Operations."
Mr. Sulja at the same time stated, "This is indeed a solid move towards making our process easier. With the appointment of Mr. Vucicevich as our Interim President, the time frame for the merger process has been cut into almost half."
Mr. Vucicevich will retain his position as Director General of Consultech Construction Management Inc., but will be working closely with the Sulja Bros. to allow efficient functioning of normal business as well as the public merger process. Mr. Vucicevich stated, "I look forward to working closely with the existing Sulja Board and helping with the merger and expansion plans. Also, this will benefit all investors with the GFYM factor."
jmo
scorpio70
(The Elmira Oracle)
PV painting condos again??
LOL. I gotta call BS on that one unless you could provide me some link or proof of that.
Mr Vucicevich has multiple degrees and is fluent in five different languages.
But we all had to start somewhere when we were young I suppose.
I remember once doing lawn mowing and driving a taxi for the summer.
jmo
scorpio70
(The Elmira Oracle)
Like I said Mr Vucicevich was already traveling to Toronto once a week on business. Might as well get a head start and be refreshed by Monday morning without the early morning commute.
It was clear the OSC was under heavy pressure to do 'something'. They needed a scapegoat. Add to this further pressure from his attorneys who were counseling him to skip further delay and jettison more penny players from the stock in the interim. The argument was they simply implied no long term valuation to the stock anyway.
Criminal court was held without benefit of a trial since they now had a guilty plea in hand.
Fact.
jmo
scorpio70
(The Elmira Oracle)
Fraud was proven because Mr Vucicevich pled guilty before the OSC.
As was stated before he did this because under counsels advice to spare himself of what was believed at that time would be another nine months trial in criminal court.
He was already exhausted and anxious to just get it over with from what had turned into a multi year fiasco.
When they offered him a weekend stay in Toronto he jumped at the deal. He was already commuting to Toronto once a week so whats the difference.
Fact,
jmo
scorpio70
(The Elmira Oracle)
Fraud is generally defined in the law as an intentional misrepresentation of material existing fact made by one person to another with knowledge of its falsity and for the purpose of inducing the other person to act, and upon which the other person relies with resulting injury or damage. Fraud may also be made by an omission or purposeful failure to state material facts, which nondisclosure makes other statements misleading.
To constitute fraud, a misrepresentation or omission must also relate to an 'existing fact', not a promise to do something in the future, unless the person who made the promise did so without any present intent to perform it or with a positive intent not to perform it. Promises to do something in the future or a mere expression of opinion cannot be the basis of a claim of fraud unless the person stating the opinion has exclusive or superior knowledge of existing facts which are inconsistent with such opinion. The false statement or omission must be material, meaning that it was significant to the decision to be made.
Sometimes, it must be shown that the plaintiff's reliance was justifiable, and that upon reasonable inquiry would not have discovered the truth of the matter. For injury or damage to be the result of fraud, it must be shown that, except for the fraud, the injury or damage would not have occurred.
To constitute fraud the misrepresentation or omission must be made knowingly and intentionally, not as a result of mistake or accident, or in negligent disregard of its truth or falsity. Also, the plaintiff must prove that the defendant intended for the plaintiff to rely upon the misrepresentation and/or omission; that the plaintiff did in fact rely upon the misrepresentation and/or omission; and that the plaintiff suffered injury or damage as a result of the fraud. Damages may include punitive damages as a punishment or public example due to the malicious nature of the fraud.
There are many state and federal laws to regulate fraud in numerous areas. Some of the areas most heavily litigated include consumer fraud, corporate fraud, and insurance fraud.
I think jay walking and illegal parking are also considered frauds in Canada.
Time to move on. Mr Petar Vucicevich has paid his debt to society.
I'm just thankful that I got a boatload of shares on the cheap.
I hear they're almost impossible to find these days.
ROFLMAO
jmo
scorpio70
(The Elmira Oracle)
Let me ask you something. How else is the company going to raise cash...pay down debt... and going to expand the company than by selling shares?
ALL companies do it. This is the OTC market is it not?
Mr Vucicevich's only fault was in getting poor advice. He certainly never set out to deceive anybody.
I think he's a good and decent man. I hope he's able to serve payback to a good number of individuals who have tried to harm him.
jmo
scorpio70
(The Elmira Oracle)