A walk down memory lane----
LoftWerks, Inc. (LFWK) Announces IPO: Finalizes $3.5M Financing to Complete $40M Urban Residential Restoration Project
NASHVILLE, TN -- (MARKET WIRE) -- June 30, 2005 -- LoftWerks, Inc. (OTC: LFWK) today announces its presence in the public marketplace concurrent with the launch of its latest real estate venture; a complete transformation of an inner-city icon located in Nashville, TN., The Ambrose Building, into a Luxury High-Rise residential community worth an estimated $40M at completion.
Dennis Ammerman, Founder and CEO of Loftwerks, Inc., made the announcement while overseeing the project, which is well underway. The Ambrose Building is a century-old, Nashville Landmark that personifies the core operational paradigm of the company, namely the restoration of existing historical structures Into elegant, high-end residences imbued with the culture and local character of their urban surroundings.
Loftwerks has previously converted six older buildings in Detroit into highly desirable living spaces and will spend approximately $4.7 million to replicate its successful renovation model on "Ambrose," located at 162 Fourth Ave. N., in the heart of downtown Nashville.
"We're excited to enter the public arena as a means to raise awareness about our projects and Increase Loftwerks capitalization options. The ever increasing and 'affluently-stable' market for URBAN LOFTS is so compelling, we simply couldn't refuse the benefits of a public market vehicle, and the sometimes trying process now appears to be worth the effort," said Ammerman.
The Ambrose building will offer a mix of what lofts are all about, including exposed brick walls and large, exposed wooden beams. In addition, there will be roof decks, balconies and an atrium in the rear of the building.
Ammerman and Charles Loveman, a former Los Angeles City Planner, will spearhead the project with Nashville building owners Ambrose Associates. The project has garnered the attention and assistance of noted architect Eric Powers of the Franklin-based Innovations Group. He will design the building aided by resident Nashville architect Rob Cochran, a respected local consultant. Cochran has worked on a number of renovations and restorations and states that the building was constructed between 1890 and 1910. "The challenge," Cochran said, "is taking a building over 100 years old and turning it into something appealing and functional to the level of efficiency demanded by 21st-century usage while, simultaneously, preserving the historic integrity and cultural influences of the building's origin." Ammerman has planned a 1,600-square-foot sales and marketing office for LoftWerks, Inc. to anchor the first floor while the top floors of the four-story structure will be converted into thirty-plus condominiums ranging in size from 700 to 1,400 square feet. Consumer pricing for the units is estimated at $130,000 to $275,000.
NASHVILLE, TN -- (MARKET WIRE) -- August 15, 2005 -- LoftWerks, Inc. (OTC: LFWK) CEO Dennis Ammerman appeared on "Nashville Business-This Week" to discuss company developments, and to showcase his business plan which presents a comprehensive approach to urban revitalization. The program, which was taped on August 12 and co-hosted by Holly Dollof and Geert de Lombaerde, aired five (5) times over the past weekend on Nashville station WTVF.
The show, which also included a segment with Nashville furnishings expert Jennifer Kocak, focused on the cutting edge of urban living in terms of individuality, design, and lifestyle in America's metropolitan areas. "I'm grateful for the opportunity to get the word out about LoftWerks (LFWK) and our emergence here in Nashville," said Ammerman. "We are integrating a previously disparate array of projects, services and products into the leading movement in metropolitan markets in this country. This includes anything from our physical restoration services to an on-line and catalog merchandising campaign created specifically for the urban/loft market, and even the future production and broadcast of a cable TV series which will highlight and promote the benefits of living in dynamic inner-city locales."
On the program, Ammerman discussed the founding of LoftWerks, its recent IPO, and his ideas concerning the development of a new, on-line and catalog-sales campaign that will offer the "essentials" to his burgeoning market of urbanites, including a furniture line, house wares, and other "survival-gear necessities" for the urban dweller. "I always appreciate the opportunity to convey our vision. Media is vital. Everyone willing to listen must have a chance to hear loud and clear. There is a whole lot more to this company than bricks and mortar... it's about all the things that make us the right thing at the right time."
LoftWerks, Inc. Announces JV With Consultech Construction Management, Inc.: $12M/3-yr. Consulting Services Agreement With Revenue Incentives
NASHVILLE, TN -- (MARKET WIRE) -- August 17, 2005 -- LoftWerks, Inc. (OTC: LFWK) today announced a Joint Venture Agreement with Consultech Construction Management, Inc. that mandates a three-year term for design, planning, and consulting services in two target markets: one in Canada, the other in Europe (Germany). The Company's retainer should more than double the allotted $12M (US) with bonuses and incentives based upon performance and revenue production. The Agreement was finalized yesterday evening between LFWK CEO Dennis Ammerman and "CCM-Europe" Director General, Dr. Phil Roth, and will commence with a formal document-signing late next week.
"I cannot begin to utter the honor and gratitude of our organization toward Dr. Roth and all of Consultech," said Ammerman this morning. "Participation, at any level, with CCM is in-and-of-itself such an achievement that many would gladly pay to have but the memory of it."
CCM is one of only seven designated "Master Builders" on the North American Continent and in Europe. Their dealings span every aspect of Building and Development, from on-site services to finance and bond issuances. Their interests are global in scope, and this JV will place LoftWerks (LFWK) in an "international arena" that garners respect and a high profile in the industry.
"We've been intrigued by Dennis's passion and vision for urban renewal for some time now," said Dr. Roth of CCM-Europe. "And the results of his completed projects speak for themselves. When the opportunity arose for CCM to take on the logistics and artisanship of urban multi-housing refurbishing in two markets, we quite naturally called upon the broadest vision with uncompromising attention to detail that we knew. We called the best in Dennis and LoftWerks."
LoftWerks, Inc. CEO Ammerman Moves Forward on HGTV-Targeted Series: "Loft-Wise" to Shoot Second Pilot
Advertising Revenues Approach $1-3M According to Early Estimates
NASHVILLE, TN -- (MARKET WIRE) -- August 22, 2005 -- LoftWerks, Inc. (OTC: LFWK) CEO Dennis Ammerman announced today that he will move ahead with his plans to bring the vision of LoftWerks, Inc. to the broader market of America's television viewers. "Loft-Wise" will begin the production on a second pilot program that will garner slots on networks like HGTV, Discovery, and other cable specialty programs. The show will feature everything from the "before, during, and after" phases of Loft Construction ("Loftable Spaces") to "Urban Issues," to "Lofty Living" ...an ongoing portrait of unique and famous lofts and their often unique and famous owners. Full production leading up to airtime is slated for completion this Spring.
"Things are moving along so well with recent publicity, that all of us feel that the show is simply a continuance of that positive momentum," said Ammerman. "That idea of a natural progression to a larger audience is so very appealing as an owner. The Show becomes less a chore and more like an open microphone to strengthen our position as the leading authority on Urban Living.
Advertising will play a key role in the upcoming success of "Loft-Wise," primarily his own ads, which will feature key spin-offs that Ammerman has a headstart in developing, such as a furniture line that is designed for lofts and the often taller spaces they occupy. Other manufacturers and urban-service businesses will vie for the remaining ad-spaces on the show. Look for Ammerman to showcase his online and catalog merchandise sales as well. "When I said $150 million in 2006 I meant it," Ammerman touted. "I can't even begin to slow down the process of conceiving ancillary opportunities as we roll out this red carpet back to the inner city. We are so fortunate to be where we are. We will not waste a single opportunity ...not TV...not Print, not the nearest soapbox!"
LFWK Appoints Malone and Loveman to Board of Directors; Offer Vast Experience in Urban Renewal and a Network of Capitalization Sources
NASHVILLE, TN -- (MARKET WIRE) -- August 24, 2005 -- LoftWerks, Inc. (OTC: LFWK) announces the appointment of Charles Loveman and Merrick Malone, veterans of the urban revitalization movement, to LFWK's Board of Directors, a combination that will bring over forty years of urban renewal and capitalization experience to the LoftWerks team.
Charles Loveman is a former Senior City Planner for downtown Los Angeles during the renovation and redevelopment of the Hollywood Equitable Building (120,000 sq. ft.), the Old Bank District loft housing project (400,000 sq. ft.), and the Rowan Lofts (280,000 sq. ft.). Currently, Loveman serves as Executive Director for Heritage Housing Partners, which recently secured $14 million New Market Tax Credits for the country's first market rate housing project, The Roosevelt Building redevelopment project. Independent analysts involved with the Roosevelt project conservatively estimate its value at over $100 Million Dollars, in terms of property value, and surrounding community economic benefit. The Roosevelt Project is an example of Loveman's strategy for the procurement of highly specialized tax credits for companies that spur economic development in the communities in which they operate
Merrick Malone, of Washington, D.C., served simultaneously as Deputy Mayor for Economic Development and Director of Housing and Community Development from 1992 to 1996. He spearheaded the management team that constructed The MCI Sports Arena. He serves as executive advisor for BET Television Corporate Offices and Studios, and has actively led the redevelopment and rehabilitation efforts of 4,500 housing units to homeownership in the D.C. area. Mr. Malone is currently a Principal at Metropolis Development Company based in D.C., which focuses on new and existing solutions for urban mixed use residential and retail projects. Metropolis currently has 5 condominium projects in various stages of development in the D.C. Area and abroad.
"We are thrilled to have men of such stature join our Board of Directors," said LoftWerks, Inc. CEO Dennis Ammerman. "The vision and experience Charles and Merrick bring to our team will be invaluable in implementing urban renewal projects across the country. Their track records in dealing with governmental entities, and their vast network of contacts in the area of venture capital acquisition and third-party lending should propel us forward in our effort to bring our business plan to fruition. We are fortunate to have them on board."
Both Loveman and Malone expressed their excitement in joining in LoftWerks' unique approach to its various efforts at urban revitalization and renewal. Their appointment to the LoftWerks, Inc. Board of Directors takes effect immediately.
LoftWerks, Inc. CEO Vows to Conquer Anemic Market; Initiates Cost Analysis on $20M Private Funding; Issues New Mandate for Meticulous Audits and Shareholder Dividends
NASHVILLE, TN -- (MARKET WIRE) -- September 12, 2005 -- LoftWerks, Inc. (OTC: LFWK) CEO Dennis Ammerman announced today that anyone planning to flout LFWK stock in a "shorting position" would do so while bearing the full brunt of every available avenue of sound business development that will render them mute. "The small exchanges are plagued by this ludicrous and even perilous frenzy of negative influence," said Ammerman. "They've made a mistake this time, one that will cost them a great deal, and open the door to companies that rely solely on public market funding to reclaim their rightful roles of benefactor and driving force of true and accountable shareholder value."
Ammerman then stated that he had authorized the initial Cost Analysis of the projects driven by the recent windfall of a Private Placement Funding Agreement for $20M, as reported previously some days ago. Moreover, he mandated that, "It is an absolute goal of this organization to formally audit everything remotely resembling a number or value around here for the sole purpose of delivering a dividend to shareholders of this company.
"We will simply work these people out of the way," he said. "We will work harder and smarter and with the accuracy of audited financials. We will put this behind us permanently, and get on with the business of growing businesses...not mounds of stock certificates."
Ammerman issued the scathing remarks and stringent plans for reparations after witnessing for two weeks the deservedly remarkable volume of LFWK clash sideways with the programmed trades and unabashed profiting of unscrupulous small-cap opportunists.
"We're revolutionizing the inner city; we may as well revamp the way it does business," Ammerman concluded.
Contact: Andrew DeVries, III 210-389-2615
LFWK to Commence Two New Renovation Projects in Nashville Area as New Funding Arrangement Creates Opportunities
NASHVILLE, TN -- (MARKET WIRE) -- November 18, 2005 -- LoftWerks, Inc. (OTC: LFWK) today announced its plans to begin two additional urban renovation projects in Nashville. These projects are a refurbishment of a single large office building into approximately fifty condominium units, and the renovation of several adjoining buildings into residential units. Both of these projects will include retail and commercial space on the ground floors. The combined value of the two projects is estimated at $50 million dollars.
These two projects follow the Ambrose Building renovation in Nashville, which is nearing completion. "The impact of these three projects truly puts us in the forefront of the effort that is right now transforming downtown Nashville," said LoftWerks CEO Dennis Ammerman. "Our original idea is working as ever, and is creating a magnet for bringing life to the downtown area. We're creating a community where people truly desire to live, because of the lifestyle it offers."
This announcement comes on the heels of LoftWerks' procurement of a $20 million dollar, third-party funding arrangement for use in project development. This loan, obtained through the efforts of Consultech Construction and its Director-General Petar Vucicevich, will be used to implement various aspects of LoftWerks' overall concept of advancing the revitalized urban lifestyle. "These three projects, and the use of private, third-party funding, are indicative of the approach we've forseen for years. It is crucial to our task of increasing shareholder value," said Ammerman. "Despite recent market conditions, we are confidant that our approach to third-party financing will instill shareholder viability in the long run, and will allow us bring all of the segments of our overall urban lifestyle vision to the public."
LoftWerks, Inc. Moves Forward: Additional Projects Underway in Nashville
NASHVILLE, TN -- (MARKET WIRE) -- November 21, 2005 -- LoftWerks, Inc. (OTC: LFWK) announced its plans to begin two additional renovation projects in Nashville. These projects are a reformation of two entities: (1) a single large office building restructured into approximately fifty condominium units, and (2) a multi-structured renovation of several adjoining buildings into both residential and commercial facilities. The combined value of the two projects is estimated at $50 million when lease options, revenue sharing, and the available and pursued tax credit benefits are considered.
These projects coat-tail the Ambrose Building renovation in Nashville, which is nearing completion. "The impact of these three projects truly puts us in the forefront of the effort that is right now transforming downtown Nashville," said LoftWerks CEO Dennis Ammerman. "Our original idea is working as ever, and is creating a magnet for bringing life to the downtown area. We're creating a community where people truly desire to live, because of the lifestyle it offers."
This announcement comes on the heels of LoftWerks' successs in the private funding arena. A $20 million, private debt arrangement for project development was recently obtained through the efforts of Consultech Construction and its Director-General Petar Vucicevich. "These projects, and the use of private funding are indicative to the approach we intend to take from now on," said Ammerman. "We are confident that our funding approach will create shareholder value in the long run, and will allow us to develop the gamut of our overall vision as an organization."
LoftWerks Advances New On-Line Catalogue Venture: Design Selections Underway for Contemporary Furniture Line
NASHVILLE, TN -- (MARKET WIRE) -- December 02, 2005 -- LoftWerks, Inc. (OTC: LFWK) announces today that it has teamed with an interior design company to begin organizing the various furniture lines for its LoftWise furniture and fixtures catalogue. Thus far, over 30 unique, contemporary and modern lines are being considered. Many of the manufacturers are either new to the U.S. market or have only very limited products at select retail centers. These lines are from around the globe and will present the current and future trends in home furnishings. "Our criteria is to offer complete design selection to both the urban dweller and/or contemporary or modern home owner. The look and design of these pieces, from couches to tables to lighting, are unlike anything else on the market," said Dennis Ammerman, CEO of LoftWerks.
The introduction of the furniture line and the accompanying catalogue are part of LoftWerks' overall strategy of promoting and developing the complete new urban lifestyle. "As we have developed our urban revitalization projects over the last several years, we have noticed a real lack of any coherent and easily accessed source for the urban loft dweller who is seeking furniture and fixtures uniquely suited to the new urban lifestyle," said Ammerman. "We want to be the cutting-edge destination for those folks who are pioneering the revitalization of the new urban landscape."
LoftWerks, Inc. Discloses Sensitive Benchmark: Negotiations With Multi-National Lending Institution Could Secure as Much as $250M in Debt Financing
NASHVILLE, TN -- (MARKET WIRE) -- December 09, 2005 -- LoftWerks, Inc. (OTC: LFWK) today acknowledged negotiations regarding an institutional funding source for continuing and expanding the Company's original and primary objective: a complete re-vitalization of the once vibrant urban landscape of America. "We have been in negotiations for the past five months with a major lending source (TBA) that is now considering an ongoing financing mechanism which would allocate up to $250M in capital utilizing lines of credit and/or discounted funding arrangements of certain tax benefits which are awarded to businesses whose operations bring economic windfall to otherwise commercially-depressed areas," said Dennis Ammerman, CEO of LoftWerks, Inc. "This level of proposed finance and lending could very well launch the vision of LoftWerks with a momentum even we could never have expected. I am humbled to think that others may consider our efforts as earnest and as beneficial to a larger scope as we do ourselves."
Dennis Ammerman, CEO & President of LoftWerks, Inc.
The Company plans to disclose further details of the arrangement as they become available, and hopes to solidify the relationship and subsequent agreements just after the upcoming holiday season.
LoftWerks and Consultech Forge JV Progress: Initial Venue Finalized for Frankfurt, Germany
NASHVILLE, TN -- (MARKET WIRE) -- December 13, 2005 -- LoftWerks, Inc. (OTC: LFWK) today announced that its joint venture agreement with Consultech Construction Management, Inc. has identified its first project venue. The site is located in Frankfurt, Germany, and will be managed by Consultech corporate officials located there, along with Dennis Ammerman, CEO of LoftWerks, Inc. as lead consultant. This project is a large, residential multi-unit housing facility where an estimated 140 single-family units will emerge from the restoration process of an abandoned, multi-building complex. "This project serves many purposes for LoftWerks," said Ammerman. "Primarily, we will showcase our design techniques and accessories that accentuate the European aspects of the same type of facilities that we have built in the United States. The fact that we are able to complete this project here, legitimizes the scope of our revitalization ideas that we have used in all of our domestic projects."
LoftWerks Announces Domestic JV With Kore International Mgt., Inc.:
Targets Savannah and New Orleans: $8M Allotted by Kore
NASHVILLE, TN -- (MARKET WIRE) -- December 19, 2005 -- LoftWerks, Inc. (OTC: LFWK) today announced a joint venture agreement with Kore International Management, Inc. and has identified two project venues. The proposed sites are Savannah, Georgia, and New Orleans, Louisiana. Initial venues will be managed by Kore International Inc. corporate officials along with Dennis Ammerman, CEO of LoftWerks, Inc. The projects will encompass residential facilities and commercial building refurbishings. Kore officials say that $8M (USD) will be allocated as the initial budget for property acquisition. "These projects serve many purposes for LoftWerks," said Ammerman. "Primarily, we will exhibit our design techniques and accessories that accentuate the elements we think have strong ties to the urbane 'Southern lifestyle' and the culture of a bygone era," said Ammerman, LoftWerks, Inc. CEO. "We are fortunate to have a partner like Kore that shares our vision and ideals."
LoftWerks, Inc. Increases Authorized Shares: Anticipates Consultech Inc. Merger
NASHVILLE, TN -- (MARKET WIRE) -- February 06, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that it was increasing its number of authorized shares by 300,000,000. A company spokesperson explained that this increased number of shares was necessary to insure adequate capitalization, prior to LoftWerks' planned merger with Consultech Construction Management, Inc. "We believe that this move will help to insure shareholder dollar value and facilitate our operations during the merger process," said LoftWerks CEO Dennis Ammerman. "Our future partners at Consultech have requested that we make this move in anticipation of the merger to provide continuity in our operations. I know that it is unorthodox in its application, but in this case, we feel that 'dilution is the solution' we need to attack this situation from both sides of the fence." Ammerman continued, "Our financials will be out prior to February 10, 2006. They will ensure our shareholders that an 'out-of-the-box' response to what would normally be a steady downward spiral to posting a shell for sale, is made and enacted by a company that is truly ready to climb out of boxes!"
Ammerman further explained that this authorization has been done in anticipation of a future reverse stock split, which will be announced well in advance and according to the best interests of all shareholders. Consultech Director-General Petar Vucicevich expressed his excitement regarding the upcoming merger. "We see a true opportunity to create something really special for all of our shareholders," he said. "This increased authorization will insure that everything will continue to run smoothly during the pendency of the merger process."
LoftWerks, Inc. Advances Consultech Merger: $10M for Building Acquisition and KORE International as Lead Negotiator
NASHVILLE, TN -- (MARKET WIRE) -- February 13, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that ongoing merger negotiations with Consultech Construction Management, Inc. are proceeding towards completion. According to LoftWerks CEO Dennis Ammerman, the negotiations are being mediated by KORE International Management, Inc. and are proceeding as scheduled. "Consultech intends to allocate $10M into our property acquisition ventures," said Ammerman. "We anticipate this transaction going forward as soon as quarterly reports are completed. This capital will certainly allow us to make great inroads towards the realization of our overall vision for LoftWerks."
Consultech Director-General Petar Vucicevich expressed confidence that the expected merger is on track for completion. "We look forward to joining our efforts and resources with LoftWerks," he said. "We're not expecting any problems with the merger process, and we believe the negotiations will be completed very soon."
LoftWerks Announces Details on $10M Acquisition Capital
NASHVILLE, TN -- (MARKET WIRE) -- February 16, 2006 -- LoftWerks, Inc. (OTC: LFWK) announced today further details regarding an imminent $10M Financing Facility.
Property acquisition capital totaling $10M has been arranged by Consultech Construction Management, Inc. (“Consultechâ€) as part of their proposed merger. Per the terms of the pending merger, the funding will be structured as a convertible debt instrument, which includes a provision to absolve the debt when the merger is closed.
“This is a big step in solidifying the merger with Consultech. Consultech believes in our business model enough to put up $10M to facilitate the acquisition of inner-city properties. An essential for LoftWerks to, simultaneously, handle multiple markets. The agreement calls for funding in 2-4 weeks and we have identified up to seven properties that meet LoftWerks’ criteria for desirable, second-tier regional urban centers that are best suited for our vision of urban renewal. We will be laying out our plans as they unfold,†Dennis Ammerman, CEO of LoftWerks, said.
Consultech Director-General, Petar Vucicevich, said, “The merger process, to this point, has been very smooth. The $10M funding was pending LoftWerks' completion of its financial disclosures as a service to its shareholders, per our agreement. As many shareholders have seen, LoftWerks just filed its quarterly reports and we believe it is in both parties’ best interest to complete the financing ahead of the merger completion. We look forward to joining our efforts and resources with LoftWerks.â€
LoftWerks, founded in 1994, specializes in urban real estate redevelopment, by acquiring underutilized, strategically located, buildings with profit potential. LoftWerks’ target market is the home buyer who prefers suburban living alternatives, in revitalized metropolitan centers, to suburbia.
Consultech Construction Management, Inc. is one of only seven, designated "Master Builders" on the North American Continent and in Europe.
LoftWerks, Inc. Nears Completion of Ambrose Building Project
NASHVILLE, TN -- (MARKET WIRE) -- February 27, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its Ambrose Building conversion project in downtown Nashville is nearing completion. According to LoftWerks CEO Dennis Ammerman, the presales on the refurbished former office building have been outstanding. "We already have fifteen units under long term contract. At this time, there are only six units remaining and we anticipate complete occupancy in the very near future," said Ammerman. "We have converted this old building into top-end residential lofts and ground floor commercial and retail space. This project really showcases our overall concept for urban renewal and neighborhood rejuvenation."
The completion of this project coincides with the ongoing merger process between LoftWerks and Consultech Construction Management, Inc. "We anticipate the completion of the merger within the next thirty days," said Ammerman. "We will be releasing details of this ongoing process as they become available. We are really excited about the opportunities for increased shareholder value which are sure to be a result of this merger."
LoftWerks Announces Merger Initiation With Consultech: Sulja Bros. Building Supplies, LTD. to Be Primary Distributor for Post-Merger Projects
NASHVILLE, TN -- (MARKET WIRE) -- March 03, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that the first phase of its merger with Consultech Construction Management, Inc. has been initiated. Sulja Bros. Building Supplies, LTD., the primary distribution arm of Consultech's midwest operations has begun merger protocols with LFWK. The move solidifies the certainty of Consultech's imminent migration into the LFWK public vehicle. Sulja Brothers will serve as the centralized and primary distributor of materials for all future projects. A twenty-four year old business, Sulja Bros. has achieved steadily increasing revenues since its inception that now average over $30M annually. The company currently has assets totaling more than $25M. It is projected that once Sulja Bros. settles into its new role, revenues could top out at the $200M+ within twenty-four months. The increased inventory alone could place the company's assets at over $125M.
LoftWerks CEO Dennis Ammerman stated that the primary reasons for selecting Sulja Bros. for this position were its lengthy tenure in the industry, and the company's ability to retain its large and loyal customer base at percentages practically unheard of in industries across the board -- particularly in the construction industry where builders and sub-contractors invariably target the lowest prices for materials.
A spokesperson for Consultech Construction Management fully condoned the Sulja migration. Consultech has owned the business for nearly ten years and stated that this particular appointment consolidates the three primary aspects of the industry: materials, design and management.
LoftWerks, Inc. Fires Back: Vows Aggressive Strides to Complete Sulja Merger and Achieve Shareholder Confidence
NASHVILLE, TN -- (MARKET WIRE) -- March 06, 2006 -- LoftWerk's (OTC: LFWK) CEO Dennis Ammerman reiterated today that anyone planning to flout LFWK stock in a shorting position would do so while bearing the full brunt of every available resource aimed to render them mute. "The small exchanges are plagued by this ludicrous and even perilous frenzy of negative influence," said Ammerman. "They've made a mistake this time; one that will cost them a great deal, and open the door to companies that rely solely on public market funding to reclaim their rightful roles of benefactor and driving force of true and accountable shareholder value."
The stock holdings of LFWK insiders currently exceed the number of outstanding shares that the company has issued to date. CEO Dennis Ammerman reiterates, "We must work to squeeze these people out of the way. We will work harder and smarter to put this behind us permanently, and get on with the business of growing businesses and not mounds of stock certificates.
"We are not sure how LFWK stock trades tens of millions of shares each day when our own insiders own millions of shares more than the outstanding shares issued; however, our focus must remain that of commercial viability and not equity market predilections if we are to truly benefit our shareholders and complete the merger with Sulja Bros. Building Supplies, LTD., the primary distribution arm of Consultech Construction Management, Inc. Midwest operations, as planned," said Ammerman.
Sulja Brothers will serve as the centralized and primary distributor of materials for all future projects. A twenty-four year old business, Sulja Bros. has achieved steadily increasing revenues since its inception and now averages over $30M annually. The company also currently has assets totaling more than $25M. It is projected that once Sulja Bros. settles into its new role, revenues could reach the $200M+ within twenty-four months. The increased inventory alone could place the company's assets at over $125M.
LoftWerks, Inc. Explains Definition of "Short Seller Captured Capital"
NASHVILLE, TN -- (MARKET WIRE) -- March 07, 2006 -- CEO Dennis Ammerman reiterated today that anyone planning to flout LFWK stock in a "shorting position" would do so while bearing the full brunt of every available avenue aimed at rendering them mute. "The small exchanges are plagued by this ludicrous and even perilous frenzy of negative influence," said Ammerman. "They've made a mistake this time, one that will cost them a great deal, and open the door to companies that rely solely on public market funding to reclaim their rightful roles of benefactor and driving force of true and accountable shareholder value."
LoftWerks' (OTC: LFWK) share structure is: 500 million shares Authorized.
200 million of these shares are held in treasury for mergers and Dennis Ammerman owns 100 million shares that are Restricted.
The share structure will be posted at www.loftwerks.com by March 14, 2006. The Pink Sheets website will be updated by Tuesday March 14th, 2006.
CEO Dennis Ammerman stated, "Insiders decided to buy more shares than are legally available. There is no stock definition for this type of buying; therefore, we created our own definition. We call it 'Short Seller Captured Capital.'" Insiders have expressed interest in selling blocks of shares back to the company at a later date. The shares can be introduced into the market. After Loftwerks' plans are executed, the short sellers can complete their buy-in at a much higher price. Short Seller Captured Capital will prevent dilution of the current shareholders' value while protecting those shareholders from naked short-selling.
Shares issued through the current open Rule 504 filing for merger expenses are issued at the closing ask price on the day of issuance.
LoftWerks is on schedule to complete the merger with Sulja Bros. Building Supplies, Ltd. Sulja is the primary distribution arm of Consultech's Midwest operations. Sulja Brothers will serve as the centralized and primary distributor of materials for all future projects. A twenty-four year old business, Sulja Bros. has achieved steadily increasing revenues since its inception that now average over $30M annually. The company currently has assets totaling more than $25M.
Shortly after the merger with Consultech's Sulja Bros. Building Supplies, Ltd., Loftwerks will complete the merger with Consultech Construction Management, Inc.'s Midwest office. That office is currently in negotiations with Federal, State, and Local officials to procure storm relief work outside Biloxi, Mississippi more details will be released at a later date.
NASHVILLE, TN--(MARKET WIRE)--Mar 9, 2006 -- LoftWerks, Inc. (Other OTC:LFWK.PK - News) today announced that its merger with Consultech Construction Management, Inc. and particularly, its subsidiary, Sulja Bros. Building Supplies, LTD., the primary distribution arm of Consultech's midwest operations, has set an initial timeline of 30 days to completion. The move solidifies the certainty of Consultech's imminent migration into the LFWK public vehicle. Sulja Brothers will serve as the centralized and primary distributor of materials for all future projects. A twenty-four year old business, Sulja Bros. has achieved steadily increasing revenues since its inception that now average over $30M annually. The company currently has assets totaling more than $25M. It is projected that once Sulja Bros. settles into its new role, revenues could top out at the $200M+ within twenty-four months. The increased inventory alone could place the company's assets at over $125M.
Also, LFWK disclosed its share distribution; a request by Consultech aimed at providing shareholders as complete a disclosure as possible prior to finalizing the LFWK vehicle takeover. The shareholder ownership as described is as follows:
-- 500,000,000 authorized
-- 100,000,000 control block held by Ammerman
-- 200,000,000 in Treasury earmarked for Consultech ownership during and after takeover
-- 50,000,000 in certificate form, owned by enumerated insiders and NOT TRADING.
-- An additional 78,000,000 owned in various certificate and electronic form that is also held by LFWK insiders and accounted for as not currently trading.
-- Leaving approximately 72,000,000 free-trading shares in the public float (50M of which can be accounted for by LFWK management as issued to non-insiders).
A spokesperson for Consultech Construction Management concurred with this tabulation and stated that it was an accurate and reasonable reflection of LFWK current share structure.
LFWK Clarifies Information on Previous Press Release
NASHVILLE, TN -- (MARKET WIRE) -- March 10, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced information to clarify yesterday's press release; particularly information regarding shareholder distributions that were enumerated on the second half of the previous announcement. That portion of the announcement should read as follows:
Also, LFWK disclosed its share distribution; a request by Consultech aimed at providing shareholders as complete a disclosure as possible prior to finalizing the LFWK vehicle takeover. The shareholder ownership as described is as follows:
-- 500,000,000 authorized
-- 100,000,000 control block held by Ammerman
-- 200,000,000 in Treasury earmarked for Consultech ownership during and after takeover
-- 50,000,000 in certificate form, owned by enumerated insiders and NOT TRADING.
-- An additional 78,000,000 owned in various certificate and electronic form that is also held by LFWK insiders and accounted for as not currently trading.
-- Leaving approximately 72,000,000 free-trading shares in the public float (50M of which can be accounted for by LFWK management as issued to non-insiders
Additional Information: 60 Million of the free trading float can be accounted for by LFWK management as issued to non-insiders. Insiders held more than 22 Million shares of the free trading float, leaving the public float as a negative number to date.
A spokesperson for Consultech Construction Management concurred with this tabulation and stated that it was an accurate and reasonable reflection of LFWK current share structure.
LoftWerks, Inc. Explains and Defines: "Short Seller Captured Capital"
NASHVILLE, TN -- (MARKET WIRE) -- March 13, 2006 -- CEO Dennis Ammerman reiterated today that anyone planning to flout LFWK (OTC: LFWK) stock in a "shorting position" would do so while bearing the full brunt of every available resource at the company's disposal that can be aimed to render them mute. "The small exchanges are plagued by this ludicrous and even perilous frenzy of negative influence," said Ammerman, " We can help open the door to companies that rely solely on public market funding to reclaim their rightful roles of benefactor and driving force of true and accountable shareholder value."
-- LoftWerks' share structure is: 500 million shares Authorized.
-- 200 million of these shares are held in treasury for M & As and Dennis Ammerman owns 100 million shares that are Restricted.
The share structure will be posted at www.loftwerks.com by March 14, 2006. The Pink Sheets website will be updated by Tuesday March 14th, 2006.
CEO Dennis Ammerman stated; "Insiders decided to buy more shares than are legally available. There is no stock definition for this type of buying; therefore, we created our own definition. We call it 'Short Seller Captured Capital.' Insiders have expressed interest in selling blocks of shares back to the company at a later date. The shares can be introduce back into the market after LoftWerks' plans are executed, and the short sellers can complete their buy-in at a much higher price. Short Seller Captured Capital will prevent dilution of the current shareholders' value while providing insulation to the current shareholder from the effects of high-volume sell-offs."
Shares issued through the current open Rule 504 paper filing for merger expenses are issued at the closing ask price on the day of issuance.
LFWK is on schedule to complete the merger with Sulja Bros. Building Supplies. LTD., the primary distribution arm of Consultech's Midwest operations, as planned. Sulja Brothers will serve as the centralized and primary distributor of materials for all future projects. A twenty-four year old business, Sulja Bros. has achieved increasing revenues since its inception that now average over $30M annually. The company currently has assets totaling more than $25M. After merging with Sulja Bros. Building Supplies, Ltd., LFWK will finalize the full reverse transaction with Consultech Construction Management, Inc.'s Midwest office. Consultech Construction Management is currently in negotiations with federal, state, and local officials to procure storm-relief contracting services outside Biloxi, Mississippi. More details will be released at a later date.
LoftWerks, Inc. Contemplates Regular Dividends
NASHVILLE, TN -- (MARKET WIRE) -- March 13, 2006 -- LoftWerks (OTC: LFWK) CEO Dennis Ammerman and a Consultech company representative are currently reviewing a plan to issue regular dividends to stockholders.
The plan calls for a regular quarterly dividend of $0.0025. The 300 million shares represented by Consultech and LFWK CEO Dennis Ammerman will return the dividend to the company's Operations Accounts. Two Insiders that represent 86 million shares have agreed to return the dividend to the company as well.
CEO Dennis Ammerman announced today, "The dividend is being designed to minimize effects to company profits yet incur maximum damage to the short position in our stock. Consultech and Company Insiders understand that the money spent on the dividend is necessary to achieve a reasonable fair market share evaluation for all stockholders." Two insiders, representing more than 86M shares have already agreed to return the dividend to the company. The total share count enumerated for the dividend return to LFWK operations, and subsequently Consultech, is 386M shares of the 500M Authorized.
The remaining 114 million shares will receive a $0.0025 per share dividend. LFWK estimates an equal number of short shares that will also receive the dividend. Ammerman stated, "So far, it looks like a matching dividend program from the short sellers. Every dollar the company issues, in dividend form will be matched by the short sellers. If the short sellers refuse to pay the dividend, their identity will be revealed in the 'payment in-lieu paperwork.'"
LFWK expects that the efficiencies introduced by Sulja Bros. Building Supplies' new role as exclusive supplier will pay for the dividend. Ammerman commented: "The savings from removing a middle-man supplier by using Sulja Brothers as the exclusive materials source directly and positively affects the LoftWerks bottom line. After the merger, this margin will still be realized by the company. Redirecting new profit to shareholder dividends is, in essence, another wash. The dividend plan serves but to increase shareholder value."
LFWK and Sulja Brothers Building Supplies, Ltd. Announce Pre-Merger Financial Reports: Accelerated Timeline
NASHVILLE, TN -- (MARKET WIRE) -- March 13, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its merger with Sulja Bros. Building Supplies, Ltd., the primary distribution arm of Consultech Construction Management, Inc.'s Midwest operations, has accelerated its proposed timeline. Merger completion is expected to occur before March 24th, 2006.
Sulja Bros. will serve as the centralized and primary distributor of materials for all future projects. They recently posted earnings of $26M+ for fiscal year 2005 netting $2.4M. They currently have assets totaling more than $25M. This information will be available in detail as is practical according to an LFWK spokesperson, who also relayed that the financial reports' disclosure was forthcoming prior to finalizing the merger at Consultech's request.
It is projected that once Sulja Bros. settles into its new role, revenues should reach $200M annually within a twenty-four month period.
The full report of Sulja Bros.' financials will be posted at www.suljabros.com by March 17th, 2006.
LFWK's Ammerman stated, "The merger is coming into place, and we remain dedicated to increasing shareholder value through sound business decisions." Shortly after the merger completion with Consultech's Sulja Bros., LFWK will complete its merger with Consultech Construction Management. Inc.'s Midwest office.
LFWK Further Discloses Shareholder Information
NASHVILLE, TN -- (MARKET WIRE) -- March 15, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its original plan of shareholder disclosure (as is practical) has been furthered by this announcement. Namely, that Company Insiders have purchased up to 5M more shares of LFWK on the open market. Thus, an already negative public float tips the scales even more impossibly lopsided than previously thought. This information is aimed to bolster confidence among shareholders by maximizing the transparency of disclosures regarding the public markets and its participants.
LFWK CEO Dennis Ammerman stated today, "This is what 'Short Seller Captured Capital' is all about. Insiders feel that the shares continue to be undervalued. The result is a stronger capital base for the present and future operations of this company. I want also to inform our shareholders that plans are, as always, moving forward with our relationships with Sulja Bros. and Consultech. We anticipate no delays. The financial reports for LFWK and Sulja Bros., which include revenues, net profits, and enumerated assets, have been released. I believe that the sound judgment of our shareholders will again carry the day as they agree with us that value brought about by the collective planning and hard work of dedicated colleagues far out strips the diminutive gnattings of annoying parasitical profiteers."
LFWK is in the process of securing two new buildings in Louisville, KY. The collective purchase price is $3.98M. The estimated net profit upon project completion is $1.8M.
Shortly after the merger with Consultech's Sulja Bros. Building Supplies, Ltd.(www.suljabros.com), LFWK will complete the merger with Consultech Construction Management Inc.'s Midwest office.
Loftwerks Inc., Announces New Hope for Mississippi Hurricane Victims
NASHVILLE, TN -- (MARKET WIRE) -- March 17, 2006 -- Dennis Ammerman, CEO of Loftwerks, Inc. (OTC: LFWK), today announces that Consultech Construction Management Inc.'s Midwest office and Consultech's Sulja Bros. Building Supplies LTD are finalizing their plans for hurricane relief reconstruction outside Biloxi, Mississippi. Finalized plans are currently awaiting the State of Mississippi approval.
Consultech Construction Management Inc.'s Midwest office and Sulja Bros. Building Supplies, LTD are aggressively pursuing available Federal and State funding. Negotiations with federal and state funding agencies are proceeding as planned. Construction of 300 permanent residential units and several commercial properties will begin May 1st 2006, with or without federal or state funding options. Government agencies are providing for infrastructure reconstruction, including demolition and clean-up at the work sites.
Permanent residential units are being designed in a new urban friendly style concept. This concept provides improved pedestrian friendly streetscapes, with tree lined walkways and pedestrian scale lighting. The 300 units will range in price from $ 80,000 to $ 185,000. The cost of construction is estimated to be $ 29 M. Net profit margin is estimated to exceed 28% sales.
Loftwerks will complete its merger with Sulja Bros. Building Supplies LTD (www.suljabros.com) on or before March 24th 2006. Consultech Construction Management Inc.'s Midwest office will merge with Loftwerks shortly after Sulja Bros. Building Supplies, LTD.
NASHVILLE, TN--(MARKET WIRE)--Mar 17, 2006 -- LoftWerks, Inc. (Other OTC:LFWK.PK - News) announced today that Consultech's Sulja Bros. Building Supply Ltd. have, as previously announced, posted the company's interim financial reports on their website (www.suljabros.com). The request was made by Consultech Construction Management, Inc. This disclosure is the final step in the merger agreement between LFWK and Sulja Bros. Building Supply Ltd.
An announcement on the merger is expected next week as details are being finalized. CEO Dennis Ammerman stated, "Kore International Management, Inc. is handling the negotiations between LFWK and Consultech, there will be an announcement some time next week. This relationship has been remarkable and LFWK shareholders are sure to benefit through Consultech's expertise."
LoftWerks, Inc. Releases Intent to Move to a Higher Exchange
NASHVILLE, TN -- (MARKET WIRE) -- March 21, 2006 -- LoftWerks, Inc. (OTC: LFWK) will merge with Consultech's Sulja Bros. Building Supplies Ltd on or about March 24th, 2006. Plans have been made to compile financials from LoftWerks (LFWK), Sulja Bros Building Supplies, and Consultech Construction Management's Midwest office. The financials for Sulja Brothers have been released to the public at the website: www.suljabros.com. The financials for LoftWerks (LFWK) is available at www.pinksheets.com. The financials will be compiled and audited to make the application to a higher exchange. Details will be released shortly with inclusion of auditors' names and timeline.
CEO Dennis Ammerman stated: "As the paperwork for the merger with Consultech Construction Management's Midwest office is almost completed, plans have been formulated to move to a higher exchange. Consultech is an internationally recognized construction company that is merging part of their operations with LoftWerks (LFWK). It is only logical to start executing plans for an exchange move. Consultech is a remarkable company with best practices and world class products and processes which will benefit all shareholders. The request for integration of all 3 companies' financials is being expedited to minimize delays for Consultech's Gantt chart."
A Consultech company representative commented: "Consultech has already adapted their business model and best practices for application to the new public company. The public should expect to see an immediate effect to the bottom line from the application of efficiencies in overheard and construction costs. We like to keep our operations lean and efficient. The migration to a higher exchange is part of the plans. Consultech's reputation is a high priority and we intend to prove ourselves in the public realm, projections for growth in expansion and earnings will be exponential."
COMPLETE TO HERE NASHVILLE, TN -- (MARKET WIRE) -- 03/21/06 -- LoftWerks, Inc. (OTC: LFWK) will merge with Consultech's Sulja Bros. Building Supplies Ltd on or about March 24th, 2006. Plans have been made to compile financials from LoftWerks (LFWK), Sulja Bros Building Supplies, and Consultech Construction Management's Midwest office. The financials for Sulja Brothers have been released to the public at the website: www.suljabros.com. The financials for LoftWerks (LFWK) is available at www.pinksheets.com. The financials will be compiled and audited to make the application to a higher exchange. Details will be released shortly with inclusion of auditors' names and timeline.
CEO Dennis Ammerman stated: "As the paperwork for the merger with Consultech Construction Management's Midwest office is almost completed, plans have been formulated to move to a higher exchange. Consultech is an internationally recognized construction company that is merging part of their operations with LoftWerks (LFWK). It is only logical to start executing plans for an exchange move. Consultech is a remarkable company with best practices and world class products and processes which will benefit all shareholders. The request for integration of all 3 companies' financials is being expedited to minimize delays for Consultech's Gantt chart."
A Consultech company representative commented: "Consultech has already adapted their business model and best practices for application to the new public company. The public should expect to see an immediate effect to the bottom line from the application of efficiencies in overheard and construction costs. We like to keep our operations lean and efficient. The migration to a higher exchange is part of the plans. Consultech's reputation is a high priority and we intend to prove ourselves in the public realm, projections for growth in expansion and earnings will be exponential."
LoftWerks, Inc. (LFWK) CEO in Windsor to Finalize Sulja Merger: Consultech to Seek Regional Project Venues
NASHVILLE, TN -- (MARKET WIRE) -- March 23, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that that its CEO, Dennis Ammerman, is in Windsor, Ontario to execute the necessary documents to move ahead with merger plans with Sulja Bros. Building Materials, Ltd. (owned by Consultech Construction Management, Inc.). This will mark the beginning of the complete migration of Consultech's Midwest operations into the LFWK public vehicle.
Consultech's Director General, Petar Vucicevich, has vowed to add to the LFWK list of ongoing projects by seeking building sites in Louisville, Savannah, and other nearby, regional metropolitan venues. The LFWK/Sulja Bros. merger is expected to finalize over the upcoming weekend. LFWK will announce further details as is practical.
NASHVILLE, TN -- (MARKET WIRE) -- 03/23/06 -- LoftWerks, Inc. (OTC: LFWK) today announced that its $10M loan obligation with Consultech Construction Management, Inc. has been waived in lieu of the successful merger agreement with CCM's subsidiary, Sulja Brothers Building Materials , Ltd. This was part of the overall prerequisites enumerated by CCM Director General, Petar Vucicevich, as necessary to complete the migration of CCM's Midwest operations into the LFWK public vehicle. LFWK CEO Dennis Ammerman stated that the loan waiver will create an attractive bottom line and share value to loyal investors.
A spokesperson for Consultech Construction Management fully concurred with the announcement and stated that the path to a complete merger of CCM's Midwest operations into the LFWK vehicle was now an imminent formality.
LoftWerks Announces Cooperative Progress With Sulja Brothers Toward Merger
NASHVILLE, TN -- (MARKET WIRE) -- March 29, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its pending merger with Sulja Brothers Building Materials, Ltd. is proceeding smoothly and finalization is still deemed "a formality."
Consultech Construction Management, Inc., the parent company of Sulja, is committing significant R&D resorces to develop the LFWK ideals of urban revitalization throughout the regional metropolitan areas of the Southeastern United States. "The merger with Sulja Brothers will streamline logistics to accommodate materials demand created by the development of the first of four quadrants of the United States," said Consultech Director-General Petar Vucicevich. "Our immediate direction that we all, LoftWerks, Sulja Brothers, and Consultech, consider the most direct path to positive fiscal reinforcement toward our newly concerted team efforts is the LoftWerks long-standing focus on Regional Metropolitan Markets.
Vucicevich further explained that the innately cooperative and even hospitable dispositions of local residents and municipal organizations are the exacting characteristics that illuminate so-called "second tier" metropolitan areas as primary candidates for revitalization projects. More so than giant mega-metropolis areas like New York City or Los Angeles. "And what more hospitable environment for proving out our ideals than 'The South,'" said Vucicevich.
LFWK Carries Momentum Through Final Formalities of Sulja Bros. Merger
NASHVILLE, TN -- (MARKET WIRE) -- April 04, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its imminent merger with Sulja Brothers Building Material, Ltd. is proceeding smoothly despite normal documentation and legal formalities. All should be finalized in the next days. A company spokesperson confirmed that a highly regarded Madison Avenue law firm is in the final stages of producing the required merger documents, and that both companies have been provided with a Closing Documentation Checklist which is well toward its completion. According to Petar Vucicevich, Director-General of Consultech Construction Management, Inc., the parent company of Sulja Brothers, business is proceeding as if the merger has already been completed. "It's easy to let the nagging technical and legal details of this process slow down the progress of the merger," he said. "However, we see no significant barriers ahead, and we are excited by the opportunities resulting from the combined talents of these two companies."
Vucicevich also announced that revenue projections for Sulja should exceed $50 Million for the first twelve-month period following the completion of the merger. These projections are based on financial information available for viewing at www.sulja.com.
LFWK Finalizing Sulja Bros. Merger
NASHVILLE, TN -- (MARKET WIRE) -- April 10, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its merger with Sulja Brothers Building Material, Ltd.is proceeding smoothly. All formal agreements should be finalized in the next few days. A company spokesperson has confirmed that a highly regarded Madison Avenue law firm is in the final stages of rendering the executable merger documents, and that both companies have been provided with a Closing Checklist. According to Petar Vucicevich, Director-General of Consultech Construction Management, Inc., the parent company of Sulja Brothers, business is proceeding as if the merger has already been completed. "It's easy to let the nagging technical and legal details of this process slow down the progress of the merger," he said. "However, we see no significant barriers ahead, and we are excited by the opportunities resulting from the combined talents of these two companies."
Vucicevich also announced that revenue projections for Sulja should exceed $50 Million for the first twelve month period following the completion of the merger. The financial reports for Sulja Bros. are available for viewing at www.sulja.com.
LoftWerks Announces New Post-Merger CEO
NASHVILLE, TN -- (MARKET WIRE) -- April 11, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that it has named Steve Sulja as its new CEO to head operations subsequent to its merger with Sulja Brothers Building Materials, Ltd. Sulja, 38, is currently Director of Sales and Marketing for both Consultech Construction Management, Inc., a position he has held for five years, and Sulja Brothers Building Materials, Ltd., where he has been for the last ten years. Spokesmen for both of these companies confirm that revenues have increased by a minimum of 150% during Mr. Sulja's tenure in these positions.
Current LoftWerks CEO will remain in the new organization as Chairman of the Board of Directors. "I am thrilled that we are able to place such a qualified person in charge of day-to-day operations," Dennis Ammerman said. "This reorganization will allow me to focus more completely on my true passion and area of expertise -- the political and theoretical aspects of our new vision for urban renewal. I heartily look forward to working with Steve as we move forward towards the implementation of that vision."
Mr. Sulja expressed his excitement regarding the new position. "I am extremely enthusiastic and confident regarding the new challenges and responsibilities inherent in directing the day-to-day operations of this exciting new entity," he said. "I am ready to hit the ground running in the implementation of some new ideas concerning expansion and the capturing of additional market share, and I am grateful that the Board of Directors has shown its confidence in my leadership."
LFWK/Sulja First Plans for Expansion
Projected at $22M Within One Year
NASHVILLE, TN -- (MARKET WIRE) -- April 11, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced its first post-merger project with new partner, Sulja Brothers Building Materials, Ltd. This project involves the development and construction of a state of the art lumber distribution center in the Detroit area. LoftWerks Chairman of the Board Dennis Ammerman will consult on the construction of the facility, and will utilize materials from this location for all urban revitalization projects in the Midwestern region of the United States. "This facility will greatly enhance our productivity and efficiency through coordinated material acquisition," he said. "It will help us control costs, and streamline our distribution process."
Sulja Brothers is also planning a second, identical facility in Louisiana, just outside of the New Orleans metropolitan area. "This location really excites us," said Ammerman, since our primary and current focus has been projects in Southeastern urban areas. "Post-Katrina urban redevelopment offers almost unlimited opportunity for the implementation of our overall vision for revitalizing blighted city centers."
Petar Vucicevich, Director-General of Consultech Construction Management, Inc., the parent company of both LoftWerks and Sulja Brothers, identified the end of June 2006 as the projected completion date for the Detroit facility. "Sulja Brothers should realize revenues in excess of $22 Million by the end of its fiscal year with the addition of this completed facility," he said. "We expect similar revenue generation when the Louisiana facility comes on-line."
NASHVILLE, TN, Apr 12, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that two post-merger projects with Sulja Brothers Building Materials, Ltd. have been slated for late-2006 starts. The first project, located in the Kitchner area of Toronto, Ontario, will feature conversions of older buildings into loft apartments and retail space. A company spokesperson explained that construction should commence within 120 days and be completed in approximately 18 months. The company expects to put $9-12M into the project, with pre-sale and final revenues exceeding $50M. This will be the first "non in-house" post-merger project, with LFWK providing consulting advice and design. "We think this is the ideal location, based on proximity to our various contributing components such as Kore International Construction Management and Consultech, and will allow us to smoothly integrate our efforts," said the Spokesperson.
A second project will commence in the Gulfport/Biloxi region of Mississippi, and will focus on new construction in areas hard hit by Hurricane Katrina. A spokesperson for Consultech Construction Management, which will be over-seeing the project, stated that input from local experts would be sought to determine areas of greatest need for housing and commercial construction. The team anticipates investing an amount similar to that required for the Kitchner project, and expects to realize the same level of revenues.
LoftWerks, Inc. (LFWK)/Sulja Bros. Announces Two Manufacturing Facilities Truss and Wall-Panel Robotics Facilities Will Increase Niche Production 300% Over Current Segment in Canada
NASHVILLE, TN -- (MARKET WIRE) -- April 13, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that its new post-merger owner, Sulja Bros. Specialty Building Materials, Ltd., plans to construct and operate two automated, robotic-enhanced truss manufacturing facilities in the markets of Kitchner, Toronto, Ontario in Canada and in the Gulf Dale/Biloxi Mississippi area (both announced previously as target niche markets by a company spokesman).
These operations will primarily supply the revitalization efforts in Toronto and the commercial facilities rebuilding campaign in post-Katrina Mississippi. The facilities basically automate and exact the process of framing and skinned-wall fabrication off-site for an assembly process that is less demanding in terms of committed resources at any given project location. Sulja Bros. currently generates approximately $4-6M annually from an identical process in Windsor, Ontario. The adjunct of the new facilities is expected to increase these niche-specific revenues by three hundred (300) percent within 24-36 months.
NASHVILLE, TN, Apr 18, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that the planned resignation of CEO Dennis Ammerman had been accepted pursuant to its merger plans and reorganization concept. Mr. Ammerman will relinquish day-to-day control of operations immediately, and be succeeded by new CEO Steve Sulja. "I am happy to hand things off to such a capable leader," said Ammerman. "I believe that Steve will ably handle the post-merger challenges and opportunities that will arise for our new ventures," he said. Sulja, 38, is currently Director of Sales and Marketing for both Consultech Construction Management, Inc. and Sulja Brothers Building Materials, Inc., which are both principal players in the post-merger entity which will be created. "I am so excited by the opportunities inherent in this new venture," he said. "I believe that we are creating something really special for our shareholders, and I can't wait to address the challenges and possibilities which await."
NASHVILLE, TN, Apr 18, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that its new ownership, Sulja Bros. Specialized Building Materials, Ltd., will immediately set a course toward a broader exchange board such as the OTCBB or even NASDAQ. Newly Appointed CEO, Steven Sulja
This announcement comes on the heels of the resignation of Dennis Ammerman, former CEO of LoftWerks, Inc. Ammerman will stay with the new company in his capacity as "the most ardent voice for Urban Revitalization in this country," said Sulja.
Consultech Construction Management's (The Parent Company of the new entity) Director General, Petar Vucicevich has vowed to add to the LFWK list of ongoing projects by seeking out definite growth opportunities in the Southern U.S. The LFWK/Sulja Bros. merger is expected to finalize by week's end. LFWK will announce further details as is practical.
WINDSOR, ON, Apr 19, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that a Liberian supplier of mid- and high-grade lumber cut to traditional North American building lengths and standards will finalize a Preferred Vendor Status Contract with Sulja Bros. as soon as is practical considering the sanctions soon to be lifted from the Liberian timber industry.
A Liberian official earlier said that the country is embarking on a vigorous post-conflict Economic Recovery Program with the intent of placing the country on a viable economic path.
The supply-side contract could increase margins by as much as 19% (12-31%) per annum. The dialogue has also opened venues for further transactions that include Sulja actively seeking out North American suppliers of traditional staples and infrastructure materials like asphalt, low-cost, modular housing structures, and even rice.
Petar Vucicevich, Director General of Consultech Construction Management, Inc., also re-iterated (from an earlier release) that revenue projections for Sulja should exceed $50 million for the twelve-month period following the completion of the merger and the broader market opportunities that await the post-merger Sulja Bros. The financial reports for Sulja Bros. are available for viewing at www.suljabros.com.
WINDSOR, ON, Apr 21, 2006 (MARKET WIRE via COMTEX) -- New LoftWerks (OTC: LFWK) CEO Steve Sulja in Windsor, Ontario announces today that Consultech Construction Management Inc.'s Director General Petar Vucicevich has been in the Middle East for the past 4 days completing negotiations for the land and construction of a 280 room exclusive luxury hotel on the Al Reem Island, in Abu Dhabi, UAE. Tracey Banumas, Director of Operations for CCMI stated that the cost of acquiring the land on Al Reem Island is $29M, cost of construction of the luxury hotel is estimated at $645M, both the land and financing for this project have been secured as of yesterday. The anticipated start date on the hotel construction will be mid 2007, and to be completed by mid 2009. Abu Dhabi, United Arab Emirates is one of the busiest and fastest growing areas in the world. Average hotel occupancy rates in Abu Dhabi are over 92%, and increasing steadily with the onset of businesses moving into the new hub of the Eurasian market. Vucicevich states that expanding Consultech's business reach into the Middle Eastern market is gaining momentum, and further ventures and business opportunities are underway for this region.
WINDSOR, ON, Apr 25, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that its post-merger partner, Sulja Brothers Specialty Building Materials, Ltd., has appointed new officers and directors in anticipation of combined operations. Heading the company as its new Chief Executive Officer will be Steve Sulja. Mr. Sulja is currently Director of Sales and Marketing for both Sulja Brothers and Consultech Construction Management, Inc., positions he has held for the past ten years. The company also has named Leo Joseph Meloche to serve as President. Mr. Meloche is currently Comptroller of Sulja Brothers, a position he has held for the last eight years, and brings a wealth of financial and management experience to the position. The final announced appointment is the naming of Leslie A. Budway to serve as Secretary. Ms. Budway is currently in-house credit analyst for Sulja Brothers, a position she has held for six years. All three officers will also serve as Interim appointees on the company's Board of Directors. "We will serve in this capacity until all of the merger details have been completed," said Sulja. "When input has been received from all of the post-merger entities -- LoftWerks, KORE International Management, Inc., Consultech, and Sulja Brothers -- we will be naming a permanent Board of Directors that can successfully and efficiently guide our combined efforts."
WINDSOR, ON--(MARKET WIRE)--Apr 28, 2006 -- LoftWerks, Inc. (Other OTC:LFWK.PK - News) today announced that all pertinent documents related to its merger with Sulja Brothers Building Materials, Ltd. have been executed, finalizing the merger process. All appropriate officers and directors of LFWK, Inc. and Sulja, the primary players in the merger process, reviewed, approved, and executed the documents today. "We are confident that every detail has been addressed," said new LFWK CEO Steve Sulja. "We believe that we have completed a process which will allow us to rapidly reward our loyal shareholders who have supported us through these merger negotiations. Our new structure should certainly provide a platform for increasing our share value," he said. An LFWK spokesperson also stated that the company would now be moving into the next phase of the merger transaction. Forms and filings pertinent to the deal will now be expedited to the Securities and Exchange Commission. "We have retained the services of Adam S. Gottbetter, the founding partner of Gottbetter & Partners, LLC," he said. "This is an internationally acclaimed Securities law firm, headquartered in New York City. Mr. Gottbetter will be handling the filing of our 15c-211 and Form D with the SEC, and we look forward to a long and fruitful relationship with him," said Sulja.
WINDSOR, ONTARIO, May 01, 2006 (MARKET WIRE via COMTEX) -- LoftWerks,Inc. (OTC: LFWK) today announced that Sulja Brothers Building Materials, Ltd. will be involved in supplying building materials to Consultech Construction Management for a resort development on Al Reem Island in Abu Dhabi, UAE. Sulja will be involved in this project as a result of negotiations conducted in Abu Dhabi by Consultech Director-General Petar Vucicevich. "There is a real need for this relationship because of the lack of primary building materials on the Island, specifically, and in the Middle Eastern region generally," said Vucicevich. "As the parent company of both Consultech and Sulja Brothers, we have the unique ability to bring all the necessary parties together to undertake this project," he concluded. A company spokesperson stated that the project is expected to generate $130M in revenues over the next two years. "The initial agreement calls for us to provide primary building materials such as lumber and masonry," he explained. "We expect ancillary products to spin off additional revenues that could reach the $300M mark within three years," he said.
WINDSOR, ON, May 05, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) announces that it will file its Form 10 registration for the NASD OTC bulletin board with the Securities and Exchange Commission within the next 14 business days. With the announcement of the completed merger and audited financials, Loftwerks has positioned itself for the Form 10 filing. LoftWerks (LFWK) intends to respond to all comments from the SEC in a timely manner in order to become a fully reporting Company. The Company's Attorneys and Certified Public Accountants are experienced in the exchange move process and are ready to expedite it. LoftWerks (LFWK) management feels that the filing will provide the investing public with current information on its business activities and performance. CEO Steve Sulja commented: "Months of hard work are finally yielding the filing for Loftwerks first exchange registration filing. The process has been challenging and rewarding for all involved. The document filing will be our best work yet in achieving the shareholder value and recognition for the projects we have acquired."
WINDSOR, ON -- (MARKET WIRE) -- May 05, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that Sulja Brothers Building Materials, Ltd. has completed their audit process for upcoming financial reports, and that the information will soon be posted on the company's web site.
The auditing firm, with locations in Canada, The U.S., and Europe finalized the process yesterday. A Sulja spokesperson stated that the transition to a public market could not occur at a better time. "Our merger into the LFWK public vehicle and the full slate of viable and on-going projects will allow us the opportunity to advance our presence into broader exchanges," said Steven Sulja, CEO of Sulja Bros. "Our ultimate goal is just that...to put The Company in front of a larger audience and prove our ability as a producer of long-term shareholder value."
The financial reports will be available for public viewing on The Company's web site at www.sulja.com.
WINDSOR, ON, May 11, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (OTC: LFWK) today announced that Sulja Brothers Building Materials, Ltd. has posted the necessary filings to finalize the merger agreement it has in place with the Loftwerks, Inc. (LFWK) public, and that the entire process should be completed in only a few days.
Counsel, the Gottbetter Firm in NYC, has submitted the required SEC documentation, namely the form 15C(211). A Sulja spokesperson stated that the transition to a public market should not occur later than 5-7 days from now. "Our merger into the LFWK public vehicle allows us the opportunity to advance our presence into broader exchanges," said Steven Sulja, CEO of Sulja Bros. "Our ultimate goal is just that...to put The Company in front of a larger audience and prove our ability as a producer of long-term shareholder value."
LoftWerks/Sulja's Parent Company Consultech Furthers Middle East Growth
WINDSOR, ON -- (MARKET WIRE) -- May 17, 2006 -- LoftWerks (OTC: LFWK) LoftWerks/Sulja Bros. today announces that Consultech's Midwest Operation has signed a new contract in partnership with Intec Industries in Berlin to construct two tire recycling plants in the Middle East. Intec Industries is a world renowned and front runner of tire recycling technology.
The first plant is to be located in Saudi Arabia and the second one is to be constructed in the United Arab Emirates. Consultech Director General, Petar Vucicevich, upon signing the contract in Berlin, stated, "We are pleased to sign another agreement with our friends in the Middle East. We have been doing business in the region for a few years now and this new project solidifies our presence even more. At the same time, we have a new partner in Intec Industries. We plan on furthering our business in the future once our project in the Middle East is a success."
A Consultech spokesperson stated that all necessary fixtures, construction and finishing materials would be provided through Sulja Building Supply. This project is estimated to generate 30 Million Euros; construction on the site will begin in August 2006; completion date is projected in about 8 months.
WINDSOR, ON, May 26, 2006 (MARKET WIRE via COMTEX) -- Sulja Bros., Ltd. (PINKSHEETS: LFWK) today announced that its new ownership of the LoftWerks, Inc. public vehicle has been authorized for finalization by the Company's Board of Directors. All preliminary documents have been completed and executed, and Sulja Bros. retained counsel has been directed to "effectuate as quickly as possible any and all remaining procedures in order to finalize the transaction," as stated by a Company spokesperson.
Sulja Bros. will immediately target a broader exchange such as the OTCBB or even NASDAQ. Newly Appointed CEO, Steven Sulja, in Windsor, Ontario, stated earlier that "the LFWK trading vehicle is just that... a 'vehicle' to move us into a broader more substantial audience."
Sulja Finalizes Acquisition of LFWK Vehicle
WINDSOR, ON -- (MARKET WIRE) -- June 01, 2006 -- Sulja Bros., Ltd. (PINKSHEETS: LFWK) today announced that its new ownership of the LoftWerks (LFWK), Inc. public vehicle has been finalized by the Board of Directors, and their legal counsel, the Law Firm of Gottbetter and Partners, LLC. All final documents have been executed and forwarded by the law firm awaiting final approval from NASDAQ.
Sulja Bros. will immediately target a broader exchange such as the OTCBB or even NASDAQ. Investors with questions about this ongoing concern can contact Gottbetter and Partners office or Kore International Management Inc at 1-866-658-KORE.
Share restructuring and distribution is currently finalizing with a new serial number and CUSIP. This process should be completed within a week. Any changes in the transaction, including the new ticker symbol and CUSIP number will be posted on the Sulja Bros. website (www.suljabros.com).
WINDSOR ON, Jun 02, 2006 (MARKET WIRE via COMTEX) -- LoftWerks CEO (PINKSHEETS: LFWK) Steve Sulja announces today the appointment of Director 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." For further details, contact Kore International.
LFWK/ Sulja Brothers to Begin Process of CUSIP and Symbol Change
WINDSOR, ON -- (MARKET WIRE) -- June 07, 2006 -- LoftWerks,Inc./Sulja Bros. (PINKSHEETS: LFWK) today announced it has contacted its transfer agent to begin the process of submitting applications to NASDAQ to acquire its new trading symbol and CUSIP number. According to a company spokesperson, this process can take anywhere from two days to several weeks depending on the number of applications NASDAQ is dealing with at any given time.
The company will be notified by NASDAQ personnel if any further information is required, and as a more clearly defined timeline for the change-over develops. LFWK/ Sulja Brothers will post any additional information pertaining to the process on its website at www.Suljabros.com.
LoftWerks/Sulja Completes Share Increase for Reverse Merger WINDSOR, ON -- (MARKET WIRE) -- July 12, 2006 -- LoftWerks/Sulja (PINKSHEETS: LFWK) increased its common shares to 800 million shares. A company spokesperson commented: "The incorrect value listed at the State of Nevada is being corrected to show 800 million Authorized shares for LoftWerks/Sulja."
CEO Steve Sulja states: "The share increase is for reverse mergers only and will be restricted when issued. The company management is very excited about the upcoming public releases. Our shareholders will be very happy."
LoftWerks/Sulja -- Red Sea Group Replaces Kore International for Investor Relations
WINDSOR, ON -- (MARKET WIRE) -- July 14, 2006 -- A LoftWerks/Sulja (PINKSHEETS: LFWK) company spokesperson announced today that Kore International has reached a mutual agreement with Red Sea Group to strengthen Investor Relations. All Investor Relations functions will be performed by Red Sea Group in the near future.
Red Sea Group is located in Abu Dhabi, United Arab Emirates. Red Sea Group will introduce current LoftWerks/Sulja Abu Dhabi and Saudi Arabian projects to Middle Eastern investors in conjunction with the Investor Relations function.
CEO Steve Sulja stated: "Consultech's initial business reach into the Middle Eastern market is rapidly expanding. LoftWerks/Sulja is gearing up to supply these large project
WINDSOR, ON, Jul 25, 2006 (MARKET WIRE via COMTEX) -- LoftWerks/Sulja (PINKSHEETS: LFWK) announced today that the company will not reverse split its shares. A company spokesperson commented: "The Company believes that the net earnings already booked will easily raise the share price to an acceptable level." CEO Steve Sulja stated: "After reviewing all the documentation and consulting with the Red Sea Group, we have come to the conclusion that there is no need to reverse our shares. Price appreciation of our shares should easily beat the NASDAQ requirements for up listing. Our net earnings will raise the eyebrows of many investors."
WINDSOR, ON, Jul 26, 2006 (MARKET WIRE via COMTEX) -- LoftWerks/Sulja (PINKSHEETS: LFWK) announced today that the company is opening 3 new offices in the Middle East. A Red Sea Group company spokesperson commented: "The 3 licenses for Sulja Bros. Building Supplies were obtained in the Middle East. Ground breaking commenced today in Abu Dhabi, Dubai in the United Arab Emirates and in Bahrain." CEO Steve Sulja stated: "We needed to supply existing and new clients in the Middle East. The construction in the UAE and the Middle East is projected to exceed 28 billion by the year end. Sulja Brothers is increasing its market share of these lucrative projects. The Red Sea Group has been very successful in obtaining new clients and projects. Our client base has grown tremendously through our relationship with the Red Sea Group."
WINDSOR, ON, Jul 26, 2006 (MARKET WIRE via COMTEX) -- LoftWerks/Sulja (PINKSHEETS: LFWK) today announces that Wessal International, parent company of Red Sea Group which has been handling all investor relations and promotion of LoftWerks/Sulja in the Middle East, has full intention to move forward with a joint venture. Wessal International is an internationally renowned company whose portfolios include everything from oil allocations to construction. Wessal International President Ahmed Khalil Al-Muslmani states: "The potential of Sulja Bros. in the Middle East is phenomenal. We believe that the parent company would be better suited to manage the investor relations and promotion of this entity in our region. Therefore, we are happy to announce this new venture." He also stated: "We will move quickly and efficiently to ensure that we claim our portion of the revenues from all the construction that is happening in this region. We are certain that this will enhance confidence for everyone involved with Sulja as well as Wessal International." Documents necessary for this new venture are expected to be signed and finalized within a few weeks.
WINDSOR, ON, Jul 28, 2006 (MARKET WIRE via COMTEX) -- LoftWerks, Inc. (PINKSHEETS: LFWK) today announced that it has finalized the process of changing the name of its post-merger entity. The name of the Company has been changed from LoftWerks to SULJA BROS. BUILDING SUPPLY, LTD. The new trading symbol for the company's common stock will be "SLJB." "We are very pleased to have our household brand name finally processed by the State of Nevada and the NASDAQ as well," said company CEO Steve Sulja. "Furthermore, with our Investor Relations functions being performed by the Wessal International Group, we are rapidly expanding our business in the Middle East, as well as gearing up to supply our new and future projects through our parent company Consultech," he said.
LFWK ends here
Sulja Bros. Building Supplies Releases Financials
Monday July 31, 2006 1:16 pm ET
WINDSOR, ON--(MARKET WIRE)--Jul 31, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that the company is releasing financial information to its shareholders. Sulja Brothers Building Supplies earned $63,047,611.00 during the 12 months from June 1, 2005 to May 31, 2006. The company made $28,371,424.95 gross profit with a $26,023,991.63 in pre-tax profits. Net profits were $15,879,839.69. The monthly financials for 2005 and the pro forma for 2006 will shortly be available at www.suljabros.com.
CEO Steve Sulja stated: "We had a good year in the latter part of 2005, thanks to our expansions in the Middle East. A large portion of 2005 profits and revenues can be attributed to our Middle Eastern Operations. We are expecting greater net profit performance in 2006."
A Red Sea Group spokesperson commented: "Sulja Brothers had an excellent year with major growth expected in the coming years. Our initial assessment to determine eligibility for Sulja Brothers to meet the NASDAQ requirements was based upon the current net profit of Sulja Bros."
Sulja Bros. (SLJB) to Release Positive Financials
Monday July 31, 2006 2:35 pm ET
WINDSOR, ON--(MARKET WIRE)--Jul 31, 2006 -- Sulja Bros. Construction Supplies, Ltd. (Other OTC:SLJB.PK - News) today announced that it will release pertinent and positive financial information to its shareholders. Year-end (fiscal) numbers will show revenues of $63M+ for 2005 and gross profits of approximately $28M+. The net profit for the year-end audit will surpass $15M. Monthly financials and a pro-forma will soon be available to the public at www.suljabros.com.
CEO Steve Sulja stated that although "the numbers show a good year, we intend to increase margins and overall revenues quite substantially in 2006." The company anticipates NET profits greater than $3M from the supply-side agreements it has attained with the Red Sea Group, an investment banking and asset management group with interests primarily in the Middle East.
A spokesman from the Red Sea Group confirmed the above and stated that, "the Company's partnership with Sulja Bros. is bursting with potential that is rare among businesses seemingly so disparate in geography."
CEO Sulja and The Red Sea Group also reiterated that there will not be a reversal of shares, and that the new entity is capable of sustaining the numbers necessary to reach a broader exchange.
Sulja Bros. Building Supplies Increases Market Share of Construction Projects in Middle East
Wednesday August 2, 2006 11:51 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 2, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) is meeting with Consultech Construction Management and Emaar Properties, in Germany, to finalize a major construction and supply agreement.
A Red Sea spokesperson commented: "The joint venture includes the supply of lumber and other building materials for 3 new developments in Dubai and Abu Dhabi. Sulja Brothers is expediting supply chains to meet the immediate groundbreaking."
CEO Steve Sulja stated: "This is exactly why we expanded in the Middle East and obtained a contract with the Liberian Government for lumber. Sulja Brothers' growth rate in the Middle East is astounding. This joint venture with Emaar Properties opens up possibilities for more projects in the near future and increases our market share in the Middle East."
Sulja Bros. Building Supplies Releases Revenue Details of Construction Projects in Middle East
Wednesday August 2, 2006 2:40 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 2, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) is meeting with Consultech Construction Management and Emaar Properties, in Germany, to finalize a major construction and supply agreement.
A Wessal International Group spokesperson commented: "The deal with Emaar Properties will generate $124 million in revenue over the next 12 months for Sulja Brothers."
Sulja Bros. Building Supplies, Ltd. Receives Investment Capital and Releases Financial Information
Thursday August 3, 2006 10:53 pm ET
DUBAI, UNITED ARAB EMIRATES--(MARKET WIRE)--Aug 3, 2006 -- Wessal International is pleased to announce that Sulja Bros. Building Supplies, Ltd.'s (Other OTC:SLJB.PK - News) financials are currently available on www.suljabros.com.
CEO Steve Sulja states: "Sulja Bros. is pleased to release financial statements to the investing community. The posted financials are a compilation of Sulja Bros. and all of its North American and Middle Eastern wholly owned subsidiaries. We had a great year and our Middle East projects are supplying tremendous growth. We look forward to another outstanding year with increased net profits and growth."
Wessal International has arranged for private financing of USD 25 million, of investment capital, for Sulja Bros. Building Supplies, Ltd.
A Wessal International spokesperson commented, "We have acquired private financing to secure the vast supplies and materials needed in the rapidly growing operations in the Middle Eastern market. This will necessitate and alleviate the capital required for such an extensive demand for building materials. The capital attained will ensure that Sulja Bros. will not use company shares to raise capital in the near or distant future, and will continue to not only maintain the upward climb towards a high price per share, but to also steadily rise towards a higher market exchange."
Sulja Bros. Building Supplies, Ltd. Seeks Listing on the Dubai International Financial Exchange
Thursday August 3, 2006 3:14 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 3, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) is seeking a listing on the Dubai International Financial Exchange. The new United Arab Emirates exchange is dedicated to becoming a global financial hub.
A Wessal International Group spokesperson commented: "Recent deals have generated great interest in Sulja Bros. Building Supplies, Ltd. We are now working with one of the largest investment banking firms to complete the listing of Sulja Bros. Building Supplies, Ltd. on the Dubai International Financial Exchange."
CEO Steve Sulja stated: "Our recent dealings in the Gulf Region have greatly attracted the attention of the regional investors. We are very excited and working diligently to provide these savvy investors with a Dubai listing. We warmly welcome the Middle Eastern investors to the Sulja family of shareholders and look forward to even further expansion in this and other regions."
Sulja Bros. Building Supplies, Ltd. Releases Financial Information
Friday August 4, 2006 9:00 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 4, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) financials are currently available on www.suljabros.com.
CEO Steve Sulja states: "Sulja Bros. is pleased to release financial statements to the investing community. The posted financials are a compilation of Sulja Bros. and all of its North American and Middle Eastern wholly owned subsidiaries. We had a great year and our Middle East projects are supplying tremendous growth. We look forward to another outstanding year with increased net profits and growth."
Sulja Bros. Building Supplies Informs Shareholders That a Recent Fax Blast Is Not From the Company
Friday August 4, 2006 12:41 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 4, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) has been made aware and is in receipt of a fax blast that was sent out from 2006 Market Sine. Sulja Brothers is not connected to and did not pay for a fax blast from Market Sine.
CEO Steve Sulja states: "Sulja Brothers is outraged by this recent spam concerning the company. We have already paid for a search with Intelius that will reveal the name of the fax spammer. The assisted search will take 24 to 48 hours to reveal the fax publishers identity. Intelius has already confirmed that the identity will be known from public utility records. Our lawyers will continue the investigation, when the phone number search is finished. We apologize to our investors for the inconvenience and we will pursue the publisher to final justice. There has never been, and will not be, any shareholder dilution."
Sulja also states, "We strongly believe that we have reached many shareholders through legal means and we are happy with the progress we are making, we have absolutely no interest what so ever to pursue spam and any other sort of mass mailing advertisement to attract the attention of a few measly dollars, we hold our shareholders with utmost respect and will continue to retain their trust. We state again, Sulja Bros. Building Supplies, Ltd. had nothing to do with the fax blast. Necessary investigatory actions have begun and our legal team will proceed to undertake legal remedies against those individuals responsible."
Sulja Bros. Building Supplies Ltd. -- Wessal International Is Purchasing 25% of Sulja Brothers
Tuesday August 8, 2006 12:57 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 8, 2006 -- A Sulja Brothers Building Supplies (Other OTC:SLJB.PK - News) company spokesperson announced today that Wessal International is purchasing 25% of Sulja Brothers in the open market. Wessal International is the parent company of Red Sea Group. Red Sea Group was recently selected to strengthen Investor Relations in the Middle East.
CEO Steve Sulja stated: "Sulja Bros. initial business reach into the Middle Eastern market is attracting new investors. Wessal International's President, Ahmed Khalil Al-Muslmani, is buying 25% of the company. No more shares are being issued by Sulja Bros; therefore, Mr. Al-Muslmani has to buy in the open market. By law, this press release is the disclosure of Wessal International's offer and buying can commence in the open market immediately. We are very excited over the interest our company has received in the Middle East. Mr. Al-Muslmani has been watching our growth in large projects and stated his offer at the project closings in Germany. We warmly welcome Wessal International to the family of Sulja Bros. shareholders."
Sulja Bros. Building Supplies, Ltd. (Other OTC: SLJB.PK) Pro Forma Will Be Released Tomorrow
Tuesday August 8, 2006 2:33 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 8, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that the company will be releasing the pro forma tomorrow August 9, 2006.
CEO Steve Sulja stated: "Sulja Bros. has updated the pro forma to contain the recently closed projects. The closings, in Germany, have boosted our outlook for the next 12 months significantly. The pro forma numbers will continue to increase as more projects close in the future. The future numbers are astounding and the shareholders deserve to know the project contracts have come to fruition."
Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Releases Pro Forma for 2007
Wednesday August 9, 2006 10:07 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 9, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) The fiscal year pro forma is available at www.suljabros.com.
CEO Steve Sulja states, "Sulja Bros. had an excellent year and the Middle East projects are already affecting the bottom line. The pro forma estimated revenue is $307,007,451.50 and estimated net profits are $93,951,965.18. The pro forma for the current fiscal year is available for our shareholders to view. The pro forma numbers will grow as we obtain our market share of the Middle East construction boom."
Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Announces Additional Investor Relations Office
Wednesday August 9, 2006 12:19 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 9, 2006 -- A Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) spokesperson announced today that another investor relations firm is being contracted to receive investor's calls. Sulja Bros. investor relations, through Wessal International, can still be reached at 42.203.002.3884.
CEO Steve Sulja stated: "The Sulja Brothers investor call volume at Wessal International exceeded the call center's capacity. Wessal International was unable to receive and respond to all questions in a timely manner. Another Investor Relations firm is being contracted in New York City, New York. The firm's name will be announced when all contract papers are completed. We anticipate the new firm will be taking calls within 10 business days."
/ CORRECTION - Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Announces Additional Investor Relations Office
Wednesday August 9, 2006 3:32 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 9, 2006 -- In the news release, "Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Announces Additional Investor Relations Office," issued earlier today by Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News), we are advised by the company that the second sentence of the first paragraph should read "Sulja Bros. investor relations, through Wessal International, can still be reached at (44) 203 002 3884" rather than "Sulja Bros. investor relations, through Wessal International, can still be reached at 42.203.002.3884" as originally issued. Complete corrected text follows.
Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Announces Additional Investor Relations Office
WINDSOR, ON -- (MARKET WIRE) -- August 09, 2006 -- A Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) spokesperson announced today that another investor relations firm is being contracted to receive investor's calls. Sulja Bros. investor relations, through Wessal International, can still be reached at (44) 203 002 3884.
Sulja Bros. Building Supplies, Ltd. (SLJB.PK) Announces Cement Distribution in Dubai
Friday August 11, 2006 9:54 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 11, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) has currently secured a large source of cement at an extremely competitive price from eastern European suppliers. The UAE currently faces a shortage in the cement production industry by about 5 million tonnes per year, forcing it to import cement to facilitate the needs of the construction industry, according to a recent report by the Middle East Economic Digest (MEED).
Source: Sulja Bros. Building Supplies, Ltd.
A Sulja spokesperson stated, "We are currently receiving numerous requests for cement in the Dubai region and we are aggressively working to meet our client's needs." Moreover, CEO Steve Sulja stated, "We conservatively expect the sale of the cement in Dubai to reach 180 million dollars over the next twelve months. Furthermore we are negotiating a continuous and competitive supplier of structural steel. Another product in short supply in the region."
"We are encouraging cement importation to the UAE, because the market price at present is high and, as with all fair trade markets, we do not want to enforce price restrictions," said Sultan bin Sulayem, Executive Chairman of Dubai Ports Authority (DPA) and Chairman of Nakheel at the Press conference concerning Gen. Shaikh Mohammed's decision.
Sulja Bros. Building Supplies, Ltd. Releases Asset Transfer Update
Friday August 11, 2006 12:11 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 11, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) has received clearance from the Dubai Government to move the Sulja Bros. assets to the State of Nevada. Sulja Bros. attorneys have paid all creditors and liens on the assets being moved. The attorneys, working with the auditors, have produced the balance sheet, which was the last piece of information needed to complete the audit.
CEO Steve Sulja stated: "The process of moving the overseas assets was time consuming but has finally been completed. We can now have the audited financials completed shortly. The State of Nevada will receive the assets by next Friday. We are very pleased to inform our shareholders of the current transfer of assets. We are actively negotiating with KPMG International and Price Waterhouse Coopers to handle all future Security and Exchange Commission filings and reporting. Our shareholders will soon see why Sulja Bros. did not need to reverse split the stock to meet our up listing goals."
This contains 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 does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.
Sulja Bros. Building Supplies Negotiates Acquisition of Lumber Mill
Thursday August 17, 2006 11:03 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 17, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that it is acquiring a lumber mill with operations in both the Province of British Columbia and the State of Washington.
CEO Steve Sulja stated: "We have decided to remove the middle man in our supply chain. The acquisition of the lumber mill will decrease our finished lumber product costs by over 30%. The decrease in finished product price will make us more competitive in the North American bid process and will increase our market share of projects. More details will be released after the closing papers are completed. Sulja Bros. will strengthen and utilize the full potential of the lumber mill supply chain to create sustainable shareholder value."
Sulja Bros. Building Supplies Ltd. Announces Strategic Investor Relations Firm
Monday August 21, 2006 11:04 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 21, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) has hired Marquee Asset Management as their Investor Relations firm. Starting today, Marquee Asset Management will accept calls on behalf of Sulja Bros.
CEO Steve Sulja stated: "We are happy that Marquee Asset Management has accepted our offer. They have done well in the private sector and we are confident their abilities are well suited for handling the investor relations for Sulja Bros. We will heavily rely on their experience to help Sulja Bros. reach the share price targets necessary to achieve our up listing goals."
About Marquee Asset Management:
Headquarter in Florida; Marquee Asset Management's principals have handled investor relations, public relations, and financial investing for an impressive list of clients. Our employees are versed in the public and private markets and recently formed the corporation at the request of Sulja Bros. Building Supplies and Consultech. With proven expertise in developing and executing highly effective strategic communications programs and an extensive network of investment community contracts, Marquee Asset Management specializes in helping clients achieve their capital markets objectives. Marquee Asset Management offers a comprehensive suite of services including: investor relations, public relations, asset management, multimedia and web design, and corporate branding. For further information, please visit www.marqueeasset.com.
Sulja Bros. Building Supplies Receives Favorable Coverage in the Middle East
Monday August 21, 2006 1:38 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 21, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that Wessal International and Sulja Bros. received favorable press coverage in Middle Eastern newspapers and magazines.
CEO Steve Sulja stated: "With our rapid expansion in the Middle East, we have received a large interest in Sulja Bros. and our company stock. We have recently received third party articles and coverage in Emirates Al-Youm, Al-Bayan, Al-Khaleej, and Al-Etihadal Iktisady. The articles detailed the relationship between Wessal International and Sulja Bros.; mentioning the current open request of Wessal International to purchase SLJB stock on the open market. We are getting great response from Middle Eastern investors about the articles. Wessal International is pleased with the interest from investors."
http://archive.gulfnews.com/articles/06/08/21/10061629.html
Sulja Bros. Building Supplies Releases Share Structure
Tuesday August 22, 2006 12:47 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 22, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that the company is releasing the current share structure to the investing public. Sulja Bros. currently has 800 million shares authorized with 500 million shares outstanding. All share counts have been rounded to the nearest million.
CEO Steve Sulja stated: "The current outstanding shares are 500 million. There are 362 million shares held by insiders. Of the 362 million insider shares, 162 million are restricted. There are 138 million shares in the public float. The number of inside owners, of 10% of common class shares, decreased after the reverse merger. The increase of outstanding shares from 200 million to 500 million excluded holders of 20 to 50 million shares from insider status. Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."
Sulja Bros. Building Supplies Completes Asset Transfer
Wednesday August 23, 2006 3:01 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 23, 2006 -- Sulja Brothers Building Supplies, Ltd. (Other OTC:SLJB.PK - News) completed the asset transfer to the State of Nevada. Sulja Bros.' attorneys have paid all creditors and liens on the assets prior to the move. The balance sheet has been forwarded to auditor to complete our financials.
CEO Steve Sulja stated: "The State of Nevada has received the assets. The balance sheet has been sent to our auditor and we expect to have the audited financials completed in mid-September. We are pleased to update our shareholders of the asset and audit progress. KPMG and Price Waterhouse Coopers will complete the audit and the assets are contained in the upcoming audited financials. Our shareholders have requested an update through Marquee Asset Management and we are listening to the concerns. We continue to gain new work and have some exciting updates to be released."
Sulja Bros. Building Supplies Receives Initial Coverage From Knobias
Thursday August 24, 2006 12:27 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 24, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) received initial coverage from Knobias, Inc. (OTC BB:KNBS.OB - News) on August 23, 2006. The article was favorable and is available at www.knobias.com.
Sulja Bros. Building Supplies Receives Shareholder Feedback From Marquee Asset Management
Friday August 25, 2006 11:23 am ET
WINDSOR, ON--(MARKET WIRE)--Aug 25, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) received feedback from Marquee Asset Management's CEO Chad A. Curtis asking for details on the previous press releases.
CEO Steve Sulja stated: "We have contracts closed, closed with conditional status, and some in the final stages of negotiations. We will release the details of our contracts in the near future. We will include final revenue with estimated net profits for each contract. We want to remain focused on the terms and conditions of each contract to make sure each party is pleased with the result. After the conclusion, we will release information that shareholders can easily verify.
"Sulja Bros. Building Supplies has been a profitable growing business in the private sector but we are new to the public sector. We are heavily relying on Marquee Asset Management's feedback from our shareholders to correct how we publicly do business. We like to take a Six Sigma approach to all our problems, even when they are not mathematical. Our shareholders' feedback helps us Define, Measure, Analyze, Improve, and Control our communications. The control for this specific problem is the company has built a standard contract press release format including easily verifiable information for our shareholders.
"The company appreciates our shareholders' feedback. Please feel free to discuss any issue with Marquee Asset Management. It is important to our business model to have open channels of communication with our new owners."
Sulja Bros. Building Supplies Builds a Design Depot in Dubai
Friday August 25, 2006 2:49 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 25, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that the company is building a Design Depot for higher end products and fixtures to supply the builders and developers in Dubai.
Wessel International's President, Ahmed Khalil Al-Muslmani, stated, "With input from Middle Eastern contractors and developers, we are building a central location to supply the projects in Dubai. The Design Depot is located in the city of Dubai. The Design Depot will contain the high-end materials needed to complete our resort project and the Dubai projects. The store will also be available to competing contractors. Our depot will contain the internal building materials such as marble and granite for countertops and floors. High end lighting and kitchen fixtures will be used for project interiors. The finest flooring materials will be shipped through our supply chain to the Design Depot.
"The Design Depot will increase our market share of products shipped to the Middle East. The Dubai location is perfect to maximize the revenues and net profit on our projects."
The same model will be implemented in three North American cities, to be named at a later date.
Sulja Bros. Building Supplies, Ltd. -- Reiterates That Marquee Asset Management Is the Investor Relations Firm
Thursday August 31, 2006 12:37 pm ET
WINDSOR, ON--(MARKET WIRE)--Aug 31, 2006 -- A Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) spokesperson reiterated today that Marquee Asset Management is the Investor Relations Firm and phone calls should be directed to them.
CEO Steve Sulja stated: "We have been receiving over 50 calls a day from investors at our shops and Headquarters. Currently we are in the process of working on a lot of contracts some being still open, some are in the closing stage, some are being finalized. For those who try and circumvent the system, I clearly state that constant calls to our offices will yield no 'inside' information. Please use the investor relations system that is set up for you. We use these phones for business purposes. It makes no sense to talk to investors at our shops when we are already using these phones to make sure that our customers can place orders and receive materials."
Sulja Bros. Building Supplies Ltd. -- Announces Closing of Abu Dhabi Cement Contract Tuesday September 5, 2006 1:26 pm ET WINDSOR, ON--(MARKET WIRE)--Sep 5, 2006 -- A Sulja Bros. Building Supplies (Other OTC:SLJB.PK - News) spokesperson announced the closing of the cement contract in Dubai with Ramada General Contracting in Abu Dhabi, UAE.
CEO Steve Sulja stated: "The cement contract has been finalized, and the contract is officially closed. The contract is for seven million metric tons of cement per year. The cement will be transported to Abu Dhabi, UAE."
Wessal International's President, Ahmed Khalil Al-Muslmani, stated: "Ramada General Contracting is paying an average of USD $50.00 per metric ton. The deal produces yearly revenues of USD $350,000,000. The UAE currently faces a shortage in cement production. We are continuously looking to fill this need."
Sulja Bros. Announces Prominent Canadian Attorney as New CEO
Wednesday September 6, 2006 2:41 pm ET
WINDSOR, ON--(MARKET WIRE)--Sep 6, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) announced today that a new CEO has been hired.
A company spokesperson stated: "We have offered the CEO position to Mr. Shahid Khan, a prominent attorney in Ontario, Canada. With the new CEO on board, the contracts he was involved with will be announced. Mr. Shahid Khan has been functioning as a bridge between our North American suppliers and Middle Eastern Contractors. Mr. Shahid Khan has been the facilitator of many contracts in the Middle East."
Sulja Bros. Building Supplies Ltd. Announces the Chief Executive Officer and Chairman
Thursday September 7, 2006 12:53 pm ET
WINDSOR, ON--(MARKET WIRE)--Sep 7, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) spokesperson announced Petar Vucicevich is now the CEO of Sulja Bros. Building Supplies Ltd.
CEO Petar Vucicevich stated: "The general public seems to disagree with our choices of Management; the board has decided that it would be in the best interest of the corporation that I now take on the position of CEO. I respectfully ask that myself and my staff not be disturbed during this transitional period. I will be posting a statement on the Sulja Bros. website, by the end of today. My thanks goes to Mr. Khan, and I would like to make it clear that this action in no way is a reflection of his qualifications, or his ability to run this company. The decision was made by the board to dispel any concerns that our shareholders may have in regards to the management and future direction of the corporation. This corporation will be judged simply through our efforts and our successes, and only by these means will the share price be affected. I also want to make it clear that we are in no way responsible for any fax or email spam blitzes that have been circulating and ask that if anyone has any information regarding this to forward the same to info@suljabros.com. We take this matter very seriously and our legal department will deal with it swiftly."
Mr. Khan has agreed to stay on with us and will aid in facilitating our deals in Dubai. We will not be removing the people that are responsible for helping our company grow in the Middle East.
Wessal International's President Ahmed Khalil Al-Muslmani stated: "We are pleased to see Petar running the company. He has orchestrated numerous deals around the globe. Now that we have 100% of his time, we can swiftly close the remaining negotiations and pursue larger opportunities in the Middle East region."
A communication protocol will be posted on our newly designed website and will give the opportunity for investors to list their concerns and questions.
Steve Sulja, Outgoing CEO of Sulja Bros. Building Supplies Ltd., Announces Decision to Step Down in Favour of New CEO Thursday September 7, 2006 2:37 pm ET WINDSOR, ON--(MARKET WIRE)--Sep 7, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) outgoing CEO welcomes the appointment of new CEO. Former CEO Steve Sulja, in context to new developments with SLJB, stated today, "I would like to take this opportunity to congratulate Petar Vucicevich as the new CEO of Sulja Bros. Building Supplies Ltd. My decision to resign was made after long deliberations with all members of the Sulja board. I feel that Mr. Vucicevich will better serve the direction of this corporation in its international growth. His experience in dealing with companies internationally will surely benefit Sulja Bros. Mr. Vucicevich asked me to stay behind as a consultant during this time and I will gladly accept this position. Mr. Vucicevich has the support of the entire Sulja organization here and abroad, and I ask all shareholders, members of the board and management and clients to show Mr. Vucicevich the same support you had extended to me in the past. I expect great things for Sulja and plan to work closely with Mr. Vucicevich. I believe all shareholders will be pleased with Mr. Vucicevich's professionalism and no nonsense approach. I thank you all again for all your support and wish everyone the best."
A spokesperson on behalf of Sulja Bros. stated, "We support Steve's decision to resign in favour of Mr. Vucicevich and look forward to working closely with him in his new capacity."
Sulja Bros. Building Supplies Ltd. CEO Petar Vucicevich Updates Shareholders
Wednesday September 13, 2006 11:21 am ET
WINDSOR, ON--(MARKET WIRE)--Sep 13, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) CEO Petar Vucicevich is proud to announce a shareholder update.
CEO Petar Vucicevich stated: "As the new CEO, Sulja Bros. will continue on the same path that Steve Sulja created. We will not reverse spilt our shares or change the share structure. The company will continue the Middle East growth with the same philosophy of 'Excellence.' Our customers and shareholders are the primary concern. We will strive to close amicable contracts that will increase the size and price per share of the company. I will approach this task with the same conviction as my predecessor.
"The company financial audit is nearing completion. We anticipate having the audit stamped this week. Early next week the completed audit will be available for shareholders to view at www.suljabros.com. I will also issue a new statement made available at the same website on Monday morning."
Sulja Bros. Building Supplies Ltd. Announces a Delay in the CEO Statement to Be Posted Today
Monday September 18, 2006 3:21 pm ET
WINDSOR, ON--(MARKET WIRE)--Sep 18, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News). A new CEO statement was to be updated on www.suljabros.com this morning; unfortunately due to unforeseeable circumstances, CEO Petar Vucicevich's statement will be delayed, until later on this evening.
Sulja Bros. Building Supplies Ltd. CEO Resolves Question of Share Accountability
Thursday September 21, 2006 3:29 pm ET
WINDSOR, ON--(MARKET WIRE)--Sep 21, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) CEO Petar Vucicevich today spoke directly to questions concerning clerical error in share distribution following merger.
"The clerical error that occurred in transferring restricted shares to the company's new ownership as 'control-block' issuances has been addressed and is now reconciled with the Transfer Agent and the State of Nevada. The physical certificate was located while in transit and is already cancelled at the Transfer Agent level (even prior to its arrival). The State of Nevada has been made aware of the now eminent change in the share quantity and is receiving documentation that will allow them to proceed with the publication of the proper and original authorized share count. We apologize for the error and any ensuing turmoil this may have caused. It was a mistake. We have repaired it. It will post as instantaneously as priority transport postal service and state administrative offices can move to reflect our correction." Mr. Vucicevich further hopes that this statement will resolve and conclude this unfortunate event.
Sulja Bros. Building Supplies Ltd. Releases Update on Audit
Monday September 25, 2006 3:08 pm ET
WINDSOR, ON--(MARKET WIRE)--Sep 25, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) releases updates to shareholders on the delay of the audit.
Sulja Bros. today announced that there will be a slight delay in posting the audited financials as stated in previous press release in order to conform with proper accounting practices. A company spokesperson stated, "The delay is nothing to worry about, we want to make sure that when the audits are posted they are done properly and make complete sense. Since these audits include North American companies and figures generated from the Middle East operations, we had to make sure that all companies under the Sulja Bros. umbrella operation are taken in consideration. Also, we have to ensure that these final audits meet all necessary standards and legal requirements as stated in all these different regions. We apologize for the delay but we have taken the liberty to decide that posting complete and all-inclusive financials audits would be a better course of action rather than hastening to complete only portions of it.
"We understand the frustration that our shareholders might feel and apologize again for this delay."
SLJB Acquires SAM Building Materials: $6M/Yr. Revenues From Regional Market Share Brought on Immediately
Tuesday October 10, 11:23 am ET
WINDSOR, ON--(MARKET WIRE)--Oct 10, 2006 -- Today the CEO of SLJB (Sulja Bros. Building Supplies, Ltd.) (Other OTC:SLJB.PK - News), Petar Vucicevich, announced the acquisition of SAM Building Materials Limited. The acquisition is of a regional "GSD" (Gypsum Supply Depot) situated in the Windsor/Ontario region with close proximity to markets in the US. The Company specializes in supplying Drywall and associated materials such as steel stud, wet board, acoustical ceilings, and associated finishing products in and around the Ontario/Michigan area. The company, at the time of acquisition, enjoyed a solid 10%+ of the Windsor area market share after only 6 years in business.
"We fully intend to advance the development of SAM beyond their already successful entry into a tough regional market," said SLJB CEO Petar Vucicevich. "SAM is a respected outfit here in the Windsor area, and as they adopt the SLJB moniker and available resources, we will serve to broaden their presence, along with all of SLJB and its affiliates."
An SLJB spokesperson concluded with a statement reiterating that the acquisition immediately places $6M in revenues to SLJB and that the ancillary benefits of increased purchasing volume and broader scope of expertise will only serve to enhance the bottom line of the value to SLJB shareholders. This acquisition was finalized on October 2, 2006.
Sulja Announces Opening of New Retail Store in East Windsor/Tecumseh
Monday October 16, 2:36 pm ET
WINDSOR, ON--(MARKET WIRE)--Oct 16, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) announces the opening of a new retail store aimed at home owners at the retail level. The store has been strategically located in the East end of Windsor in close proximity to our nearest competitors.
CEO Petar Vucicevich stated today, "The new retail store should be fully operational by mid December. It is only a precursor to a larger outlet that will be built around the same area in the spring of 2007." The new store is located near the bustling and upcoming town of Tecumseh which just won a contract for a new stadium and a racetrack. This has promised higher growth in the region and Sulja will be in a position to capture its share of the growing market.
Furthermore CEO Vucicevich stated, "I have been assured by our auditors that we will be in possession of all documents by week's end. With any luck we will have time to review the documents and submit them for our shareholders to review."
Sulja Bros. Building Supplies Ltd. Announces Today That the Board of Directors Has Reviewed the Financials
Wednesday October 25, 11:56 am ET
WINDSOR, ON--(MARKET WIRE)--Oct 25, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) today announces that the Board of Directors have received the financials and reviewed them over the weekend. The financials have not been made public because there were some issues with the wording because of problems in translation. CEO Vucicevich stated today, "Due to the end of Ramadan and the celebration of Eid this week, we have not been able to make necessary changes with our auditors in the Middle East. Releasing the financials without giving them prior notice and making the changes would not be a good idea. I would like to state again, that we are in possession of the financials at the moment, but we do need to make these changes before we release them. If not corrected it would lead to a lot of confusion among our shareholders and we definitely do not want that."
CEO Vucicevich also said, "We have no intentions of keeping the financials private, we are only waiting to make it more transparent. We will release them as soon as all necessary corrections are made."
SLJB Sets Release Date of Audited Financials: November 15, 2006
Friday November 3, 12:50 pm ET
Deadline Called by Board... "If Not Sooner"
WINDSOR, ON--(MARKET WIRE)--Nov 3, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) today announced that the Board of Directors has completed the in-house review of their financial audit, and they have set a "date-certain" to release the information. CEO Petar Vucicevich stated today, "We have collectively agreed that on November 15, the audit will be posted for public inspection on www.suljabros.com. We also agreed that we would make every effort to post the document sooner than the 15th (November) if at all possible."
Vucicevich further stated, "We understand fully and completely the time issue involved and the necessity for complete accuracy in the audit report. This has taken much longer than anyone here could have possibly imagined. The end result for us however must and does remain constant. It is simply unacceptable for external factors to affect the accuracy of this report. And I am stating now that they have not. We set November 15th as an absolute deadline for public release of the financials, but we will make every effort to put the report out sooner."
SLJB Reiterates Release Date of Audited Financials as November 15, 2006
Wednesday November 8, 10:19 am ET
WINDSOR, ON--(MARKET WIRE)--Nov 8, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) CEO Petar Vucicevich reiterated today that the anticipated release date of the audited financial report for SLJB was in fact correct, and that the company and its management are still confident in the 11-15-2006 deadline to publish the report on their website, www.suljabros.com.
Vucicevich then again thanked all those interested for their patience during the period in which the report has undergone great internal scrutiny for complete accuracy. "This will clearly define the assets of Sulja Brothers for the fiscal '06 year-end and set the standard of how our efforts will be measured in the future by our shareholders, our partners in business development, and everyone else who has peered into the 'magnifying glass' that this report has seemingly generated," stated Vucicevich.
SLJB One of the Most Highly Traded Stocks in North America: CEO Responds to Negative Journalism
Thursday November 16, 12:26 pm ET
WINDSOR, ON--(MARKET WIRE)--Nov 16, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) today is responding to an article published in the Windsor Star, a newspaper local to the headquarters of SLJB. What follows is a statement from the CEO of SLJB, Mr. Petar Vucicevich:
As the most recent newspaper article printed in the Windsor Star might illustrate, I find myself having to waste an enormous amount of time explaining to our shareholders certain quips and accusations about my personal idiosyncrasies and character deficiencies that are simply not productive in the light of our everyday business. It is clear that this article attempts to portray me in a less then flattering way, and if Mr. Gary Rennie (author of the article) is left to expound these utterly boring and cookie-cutter floggings within the mill of journalistic sensationalism, the attempt would appear to be succeeding. For reasons beyond my understanding, Mr. Rennie, the author of this piece, seemingly does not like me very much, and perhaps he feels he has stumbled onto something worthy of his experience-tempered scathing. Referring to me as "Black Pete," making reference to the vehicle I drive, and lamenting over the state of the appearance of my office by alerting everyone... everywhere... that there was "furniture tipped over" serves no purpose in presenting the truth of our company's business. This type of "spin-doctoring" not only portrays me as shady (something to which I normally would not personally concern myself), but it also encourages our shareholders to think something is scandalous, and in fact, deliberate in its intent to be so. Mr. Rennie had many opportunities to visit our Harrow operations and provide many pictures of a busy and successful enterprise but chose to show a photo of me... and I happen to think the Harrow staff is more photogenic...
As far as the current dilapidative state of Kore's office in Windsor, anybody walking into that place would clearly see that it is under renovations... a complete make-over no less. It is undergoing the same process that I and many other business owners in that area feel should be applied to a great number of structures in the immediate vicinity. Perhaps it is not as nice an office as Mr. Rennie's but I like it. You would think that the appearance of such scarcity and dishevelment would please him knowing that I am not allowing my "flamboyance" to dictate my business decisions. The fact that the office is understaffed at this time is due to the renovation... and not a lack of substance or employees in our dealings, as implied.
In response to the RCMP officers with whom I met, I made it clear to Mr. Rennie that this was explained to me as a routine investigation, and that every new company offering shares in the market is subject to this type of review, particularly if the company's shares were reaching volume benchmarks on the exchange. I personally provided this information to Mr. Rennie, including the investigators' names. Clearly, I was not being evasive in any way during my interview. In fact, I can say with certainty that most of the information in the article was provided by me. I am sorry to feel compelled to aver to the public that the information was simply presented poorly and in a self-serving, grandstanding manor. I would have hoped that a respectable organization like the Windsor Star would have been a little more considerate of the facts prior to publishing these statements. Although all the "facts" are true, the clearly evident misrepresentation of them in the article serves no other purpose than the same monotonous sensationalism seen in nearly every publication in North America.
Finally, we released information recently regarding our audited financials and their availability to the public viewing. We missed the deadline... due in part to the necessity of handling negative accusations such as the one I speak to now. As soon as is practicably foreseeable, we will release the financial documents for all to see, as promised. For we have nothing to hide, as always. And we have no desire to hide "all of that nothing."
New CEO Statement and Update Will Be Made Available on Website
Friday November 17, 10:00 am ET
WINDSOR, ON--(MARKET WIRE)--Nov 17, 2006 -- Sulja Bros. Building Supplies Ltd.(Other OTC:SLJB.PK - News) CEO Petar Vucicevich has stated today that a new CEO update will be posted on the Sulja website (www.suljabros.com) by 4 EST. CEO Vucicevich stated that the update will inform shareholders on the present situation.
Similarly, CEO Vucicevich apologizes for not being able to take phone calls today since he will be rushing to finish necessary paperwork. However, shareholders should be able to contact him again starting Monday.
Sulja Bros. Announces CEO Petar Vucicevich Resigns
Tuesday November 21, 6:00 am ET
WINDSOR, ON--(MARKET WIRE)--Nov 21, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) Today announces the resignation of Petar Vucicevich as CEO of Sulja Bros. Building Supplies Ltd. A spokesman said, "A mutual agreement has been reached between Sulja Bros. Building Supplies Ltd. and Petar Vucicevich which will facilitate his resignation. In light of recent press, we all felt that it would be best for the company and all the shareholders that Steve Sulja, a current director of Sulja Bros. Building Supplies Ltd., be reinstated as CEO effective immediately. Sulja Bros. Building Supplies Ltd. in no way endorses the allegations made against Petar Vucicevich, and we are thankful for the work that Mr. Vucicevich has done for our organization." Steve Sulja stated, "After numerous meetings in the past five days, it was simply felt that I accept his two month premature resignation. Along with Petar Vucicevich, Kore International Management Inc. will no longer have a roll in the management process of SLJB.
"Mr. Vucicevich has insisted all documentation and communication involving Mr. Vucicevich, SLJB shareholders, transfer agent, and all other parties involved regarding SLJB be provided to our attorneys for their review.
"I will hold the position of CEO until such time as a new board of directors can be elected by our shareholders, as laid out by Mr. Vucicevich. I ask you to be patient with me, as I will be posting a statement shortly. Mr. Vucicevich also assures us that he will remain available in the future for all questions, should it arise. I apologize, I will not be taking any phone calls at this present time, we will be communicating with our shareholders strictly through our website, and through our press releases. We all feel that this is an unfortunate turn of events, and hope that this will restore confidence in our shareholders of SLJB."
Sulja Bros. Confirm Acquisition of Sam Building Materials as Previously Stated
Friday November 24, 9:11 am ET
WINDSOR, ON--(MARKET WIRE)--Nov 24, 2006 -- Sulja Bros. Building Supplies Limited (Other OTC:SLJB.PK - News), today dismisses reports published in the Windsor Star that claim that the acquisition of Sam Building Material has not been closed. The deal has been completed and all assets and employees have been rolled into the Sulja family. No one was laid off.
A spokesperson stated, "Their entire inventory including trucks and other fixed assets have been acquired by Sulja's and we have been functioning as one for more than a month now. The property is a lease but everything else is solid assets. We want to dispel the reports that have been published in the Windsor Star; it seems as Gary Rennie, reporter from the Windsor Star has a personal vendetta against our company and its management."
Mario Moretto, President of Sam Building Materials, agreed with Sulja Bros. and stated, "Since October 2nd, we have been working under the Sulja banner. The purchase was completed and the documents are with our lawyers. I have spoken to no one from the Windsor Star, and I am uncertain to where they are getting their inaccurate information from. I want to state again that the deal has been finalized and everyone is very pleased with the result."
"The take over was seamless and everyone is happy with it. We have been conducting business normally and without hindrance since October. We plan on continuing as such and on expanding our business despite efforts of those outside our organization trying to derail our efforts for reasons unknown to us," the spokesperson said.
SLJB -- Synergy Between Former CEO and New Team Is Formidable Against Criticisms
Wednesday November 29, 9:15 am ET
WINDSOR, ON--(MARKET WIRE)--Nov 29, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) today is responding to recent events and shareholder concerns. What follows is a statement from the CEO of SLJB, Mr. Steve Sulja and the current management team now set in place to carry on with the vision of the corporation:
As previously set forth for public scrutiny, this company is currently forwarding all relevant documents and authorizations for streamlined distribution of pertinent public information to our accountants and attorneys, who will serve as the sole source of information deemed necessary and completely accurate for the public. The Officers and Directors of SLJB want to express their steadfast alliance with the vision and goals of its former CEO and vow to continue in the same light to achieve these objectives in the near future and in the long-run of our operations. Basically, SLJB is aimed still toward new levels of shareholder value and a presence on broader, more prominent exchanges, goals directly relayed from former CEO Petar Vucicevich and taken on as both solid business objectives and as support for the former company leader.
SLJB Management also re-stated that the current onslaught of negative press and its deleterious effects on every aspect of our day-to-day business and, we believe, the injurious downturn on our current share-price is nothing more than pointed sensationalism and an unprovoked tirade serving none but the names of those who would set them forth.
As ever, Petar Vucicevich has ensured the Company that he stands behind SLJB to lend support and guidance for the new team and the Company. His purpose is to promote a smooth transition for the newly inundated management team and to ensure the continued success of the Company, both publicly and internally.
The Company believes that in five short months, an operation has been built that anyone would be proud of, something for our children to know that our team helped to build, and no one here feels at all different, despite the poorly organized drivel of envious onlookers. These onlookers will become even more diffused as the public observes how stringently the Company adheres to upcoming stricter guidelines and compliance issues set forth on the Pink Sheets and larger exchanges in the near future. We will exceed the minimum requirements of these regulations.
In conclusion, the Company announced that it has secured a position at a globally renowned exposition, and to date they are in fact the only North American delegate attending: Project Lebanon 2007 will be held 2/27-3/3 2007 at the Beirut International Exhibition and Leisure Center. This expo represents a market that expects to exceed $3 billion over the next three years. SLJB has positioned itself to garner as much of that market share as is possible. The expo coincides with the Company's completion of all of the service requirements and licensing procedures to open an office in the country operating as SLJB and subsequent offices in the region that will also conduct business under the SLJB title, a move that will make transparent the true ownership and management of the Company's operations overseas.
SLJB Issues Correction for Unintentional Mis-Statement: September 05, 2006 Press Release Retracted
Tuesday December 5, 12:44 am ET
WINDSOR, ON--(MARKET WIRE)--Dec 5, 2006 -- A Sulja Bros. Building Supplies (Other OTC:SLJB.PK - News) spokesperson announced a clarification of its September 05, 2006 press release. SLJB made a mistake in the wording and in the timing of the release. Although the statements were made honestly and from the most up-to-date information available to the company at the time, circumstances far beyond the control of SLJB and occurring nearly simultaneously with the completion of the release now serve to have the Company take pause and recant the information. This effort has been put forth previously in the Statement of former CEO Petar Vucicevich on the corporate web site, www.suljabros.com. However, in light of recent questions concerning the press release, the Company is compelled to state in no uncertain terms that the concrete commodities mentioned in that release and the corresponding transaction were indeed cancelled and no contract, even if drafted to finality, was consummated. SLJB hopes that this statement serves to provide a final concurrence or addendum to the entire issue.
The September 05, 2006 press release follows below, presented in its entirety:
Sulja Bros. Building Supplies Ltd. -- Announces Closing of Abu Dhabi Cement Contract
A Sulja Bros. Building Supplies (Other OTC:SLJB.PK - News) spokesperson announced the closing of the cement contract in Dubai with Ramada General Contracting in Abu Dhabi, UAE.
CEO Steve Sulja stated: "The cement contract has been finalized, and the contract is officially closed. The contract is for seven million metric tons of cement per year. The cement will be transported to Abu Dhabi, UAE.."
Wessal International's President, Ahmed Khalil Al-Muslmani, stated: "Ramada General Contracting is paying an average of USD $50.00 per metric ton. The deal produces yearly revenues of USD $350,000,000. The UAE currently faces a shortage in cement production. We are continuously looking to fill this need."
SLJB Assures Shareholders That Tall-Order Distribution Contracts Remain a Viable Focus of the Company
Wednesday December 6, 2:14 am ET
WINDSOR, ON--(MARKET WIRE)--Dec 6, 2006 -- Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) today is announcing an addendum to clarify its position regarding brokerage of cement and other building material staples in the Middle East and elsewhere worldwide. The following is a direct message to current shareholders and an affirmative reassurance to all who have viewed the recent retraction of a press release that confirmed the halt of a cement distribution transaction with Ramada General Contractors. The Directors of SLJB wish to convey the following:
We are stating to our shareholders that SLJB is actively pursuing long-term contracts to provide building materials worldwide. We have secured 100 million metric tons of cement for distribution and are in negotiations with qualified buyers who have already demonstrated the ability to meet our stringent criterion for purchasing this product. The retraction of an earlier press release confirming a completed deal was necessary because of circumstances that stopped its progress. Our overall plan is not obstructed by any stretch of the imagination. We want to take on the responsibility of assuring our investors that the path we have set for entry into this industry is immutable and has in fact made great strides during this time of guarded corporate information and rampant rumor-mill ranting. We will stay the course and continue to serve the long-term goals for our Company and our shareholders.
The Company also stated the following regarding the ongoing issue of providing current financial information to the public: "We will publish the numbers when we have them and when we know they are correct, exactly correct, beyond the slightest pause for doubt or debate of any sort...period."
SLJB Announces Success in the Middle East
Monday December 11, 12:01 am ET
WINDSOR, ON--(MARKET WIRE)--Dec 11, 2006 -- Sulja Bros. Building Supplies, Ltd. (Other OTC:SLJB.PK - News) -- 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."
Sulja Bros. Building Supplies Ltd. Announces OSC Hearing
Wednesday January 3, 9:31 am ET
WINDSOR, ON--(MARKET WIRE)--Jan 3, 2007 -- A Sulja Bros. Building Supplies Ltd. (Other OTC:SLJB.PK - News) spokesperson today stated, "We have recently received a temporary Cease trade Order from the Ontario Securities Commission (OSC) office. This order only affects the trading of SLJB shares in Ontario. A hearing has been set for the 8th of January 2007 to decide whether the order will be extended. This is an unfortunate occurrence and we at SLJB want to assure our shareholders that we will cooperate fully with the commission to clear up any misunderstandings or oversights and bring this to a quick and favourable close. We feel strongly that our shareholders both in Ontario and elsewhere be entitled to clarity and transparency on this matter and we will be reporting to them after the hearing on the eighth."
CEO Steve Sulja stated, "We remain committed to the goals that we have set for the company and continue to work tirelessly during this time. It is important that everyone know that we at SLJB believe strongly in the company and what we are trying to achieve."
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
Wednesday January 10, 9:45 am ET
WINDSOR, ON--(MARKET WIRE)--Jan 10, 2007 -- Sulja Bros. Building Supplies, Ltd. (Nevada) (Other OTC:SLJB.PK - News), 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.
SLJB Announces US CPA Firm
Monday April 2, 5:29 pm ET
(MARKET WIRE)--Apr 2, 2007 -- Sulja Bros. Building Supplies, Ltd. (Nevada) (Other OTC:SLJB.PK - News) today announced that 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 (an associate of Mr. Vucicevich), 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 OSC has now requested that the order be extended until July 5, 2007; the company has agreed to the extension and will continue cooperating with the OSC to arrive at speedy conclusion of the matter.
At this time the Company would like to announce the appointment of Turner Stone & Company L.L.P., a U.S.A. CPA Firm located at 12700 Park Central Drive, Suite 1400, Dallas, TX. 75251.
The company is in the process of appointing an Investment Relations Firm, and their name will be announced as soon as the arrangements have been concluded.
SLJB Takes Offensive Position: States Forward Momentum Toward Original Business Goals
Friday April 13, 2:24 pm ET
LAS VEGAS, NV--(MARKET WIRE)--Apr 13, 2007 -- SLJB (Other OTC:SLJB.PK - News) today announced that it began a "seek and destroy" mission on all individuals and/or the organizations they either directly or indirectly represent tied to slanderous media campaigns and internet blog-site defamations. A spokesperson for the company said today the SLJB has had its first success in dealing with one of these scandalous persons and are now in the position of collecting damages tied to the outcome of the legal proceedings which followed the identification of the guilty party through the discovery of their IP (internet protocol) address that they utilized to post their unsupported and slanderous attacks on both business and personal issues involving the company.
"We can almost consider this a new source of revenue for our company," the spokesperson joked. "There are a lot of people on the hook for this non-sense, and we know who they are. We also know the platforms from where they attack our people and our organization. We will bring them all to like terms," the spokesperson continued.
The Company wanted to state its gratitude to its shareholders through this difficult time for their patience and understanding. SLJB will now move forward and only forward toward its original and still noteworthy goals it set in the beginning of this IPO initiative.
We made promises to shareholders and to longstanding business partners. We intend to keep them, and no one or no group will deter us from this ever.
SLJB Re-States Position and Goals for Long-Term Shareholder Value
Monday April 16, 1:32 pm ET
LAS VEGAS, NV--(MARKET WIRE)--Apr 16, 2007 -- SLJB (Other OTC:SLJB.PK - News) today announced that previously relayed releases to the public are indeed ongoing concerns for the Company. "Our pursuit of viable sales contracts both locally and around the globe is as in the forefront of our objectives as ever," stated a Company spokesperson. "We have made strides toward this end in recent days and fully expect to dispel rumors of the demise of this objective in a timely fashion. We now look forward to our participation in the upcoming Lebanese Trade Exposition as an avenue to realize the fruition of this targeted market."
"The company again wants to state its gratitude to its shareholders through this onerous and difficult time for their patience and understanding. SLJB will now move forward toward its original and still noteworthy goals it set in the beginning of this IPO initiative."
The spokesperson ended this commentary by re-stating the promises made to shareholders and to longstanding business partners. "We intend to keep them, and no one or no group will deter us from this accomplishment, not ever. In the coming weeks, we will be even more capable of reporting our progress to the shareholders of SLJB stock, and we will accurately enumerate the steps taken to fulfill our obligations."
SLJB CEO Set to Travel: Alberta Boom Thought a Potential Target for Satellite Outlet
Wednesday April 18, 6:00 am ET
LAS VEGAS, NV--(MARKET WIRE)--Apr 18, 2007 -- Today, SLJB (Other OTC:SLJB.PK - News) 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 Stelmach, 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.
LAS VEGAS, NV--(MARKET WIRE)--Apr 26, 2007 -- Today a SLJB (Other OTC:SLJB.PK - News) spokesperson announced that the Company's CEO Steve Sulja will travel to Alberta on Monday, April 30, 2007. Mr. Mian Siddiq, the Company CFO will be accompanying Mr. Steve Sulja on his travels. Their agenda and goals for this trip are as follows:
1) To meet and discuss with area mill representatives and owners to negotiate metric dimensional lumber production for projected exports to foreign markets.
2) To negotiate pricing for North America operations.
3) To negotiate lease for new location in Calgary, AB.
CEO Steve Sulja added, "There will be some management changes in the company effective as of the first of May, 2007. Mr. Ron Coates, who has been our Sales Manager at SLJB, has been promoted not only Sales Manager in our area, but now appointed General Manager for all SLJB operations."
Leslie Budway will continue her role in the company as our Credit Analysis Manager. In addition she will now take on the task of being or in-house Investor Relation Department. We have decided to do an in-house Investor Relation as opposed to have an outside firm in an attempt to preserve shareholder confidence. This route was decided based on the fact that many outside IR Firms that we contacted wanted to be paid in shares, not money. We did not feel that this was fair to our shareholders when they could possibly "pump and dump" SLJB shares, causing instability and uncertainty amongst our shareholders.
Finally we would like to announce that we have requested our lawyers and they have agreed to depart today for the Middle East, to meet with our lawyers and agents in the region, in attempt to complete long outstanding deals.
We continually thank our Shareholders for their continuous support.
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