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GS, Correctimundo. Myself, I'm partial to a brown one with fur collar this time of year. Wearing it today. leather jackets popular worldover. Whole issue ridiculous and anyone basing investment decision son a photo or looks of a CEO caught offguard is a fool. No shortage of them on this board apparently.
Ayyyyy, watch what you're saying. The Fonz says you're out to lunch. Petar just a blue-collar guy with a head for putting deals together. Catch him during one of those deals and he ain't looking like he did that day.
Jig, that is a totally ludicrous suggestion at this point in time. What we have here is a delay in AFs and a CEO about to speak to the matter. To take that scenario to the lenght you propose clearly exposes an agenda on your part. Noted.
Begs the question WHY WOULD PETAR HAVE MENTIONED ANYTHING ABOUT THE RCMP in the first place if their visit was something more than routine? He knew there was nothing to be concerned about, that's why.
Jerseyboy,To use a cliche - that has to be the post of the day. Well done.
Fish and Brentjanice -Cannot help but admire the compassion that shines through both of your posts. Moral fibre of the highest quality. Thank you for all of the guidance you both have given this board.
No. I asked that of the enforcement division of thew Ontario Securities Commission. It's not a regulated stock. (But I'm only assuming that would be the view taken by the US equivalent, the SEC. Just makes sense.)
What gap?
Succinctly put, gwikley. (Have always respected your viewpoint.)
Couple of more things:
Why would Petar volunteer to the reporter the fact that he'd been visited by the RCMP? I highly doubt the RCMP would have disclosed that info to a journalist sniffing around. Suggests to me it was an innocent visit although possibly motivated by unscrupulous parties just trying to stir the pot.
And, although he wouldn't divulge the accountant to that reporter - and who can blame him after the fiascos over that cement deal client - he did say that the accountant had returned to Cairo. Cairo? And we don't have legitimate ME connections?
When all is said and done, what do we have here that is different from a week ago. Another AF delay and while I don't like that, I think that newspaper article really messed up his release plans.
Still optimistic this will turn around tomorroww.
But at least he was wearing a poppy!
Like a few others I'm still all in and trying to make sense of the further delay in releasing AFs. Is it possible Petar has convinced the Star to do some sort of retraction and that he feels it better to wait for that and then put out the numbers? I mean putting them out first with that article still hanging over his head probably would have limited impact. But a retraction even of a minor sort first and then the AFs...much bigger bang for the buck. But hey, pure speculation here.
JMO again but what scam artist would make up a name -Wessal - and fabricate PRs about ME involvement if there wasn't truth behind it? Talk about a clear papertrail to professional suicide. No, I haven't been able to corroborate the ME connections but I didn't have contacts in a position to do so either. And if such connections had been easily verified we never would have been trading in the dime range to begin with. So, like everyone else, I paid my money and I'm taking my chances.
I have verified however that the OSC - and I would think - the SEC would not halt a stock simply on the basis of allegations of misdoing unless and until they had done some preliminary investigation. And so far nothing so I take solace in that. I'm sure agencies are well aware that there are parties out there who would love nothing else than to profit by disparaging some company. The fact that no action has been taken in this case does not surprise me in the least.
Yes, the AFs are overdue. Missed a few deadlines in fact, but I'm chalking it up to complexities of the structurs involved plus differing accounting principles that had to be accounted for. And as for this latest missed deadline, that horrendous innuendo-filled article is excuse enough for now. The CEO has to have a lot on his plate at the moment and no doubt wants to clear some of it off before posting the AFS which will command his focus afterwards fully.
I'm expecting afterhours and that they will be reassuring if not exactly totally in line with the unofficials.
Just do not see this as a scam because 1. The history of the company is solid (one Ontario Provincial officer told me he grew up in the Harrow area and that the Suljsa business name enjoys a longstanding good reputation.) 2. If it were a scam it would rank as one of the most amateurish attempts of all time owing to the papertrail left behind for authorities to follow.
As mentioned all my HO.
As a former lawyer myself - and a shareholder here with 100% in this stock (and that's with 25 years experience trading the markets including pennies, so that's got to say something about how strongly I've believed in this company), I think the negative tone has got way out of hand. We must remember that the assets Sulja holds are precisely what the Dubai area needs. Makes all the sense in the world for partnerships and associations between the two.
As for the present delay, that must have been one helluva fire Petar encountered when he got wind of that Star article. Don't blame him for prioritizing dealing with that first. But now, yes, he must follow up with the AFs and I happen to think he'll do just that.
I go back to my earlier statement- why ever would a company VOLUNTARLY submit to have its financials audited unless it felt confident in its business health. Sure, the numbers may not agree with unauditeds but it will still be a very positive step forward.
And finally FWIW, I did ascertain this morning that the Ontario Securities Commission has no allegations or complaints on record against the company.
(And please, no lawyer questions. I left the practice many years ago to pursue other business opportunities. I'm just another concerned - but still confident - shareholder here.
Oldpilot .Wrong. Every corporation has directors by law. A "board" can still consist of 2 which we have here.
You and me both, brother. Victims of either gross incompetence or fraud, but either way, yes we all made our own decisions to invest here. No one held a gun to our heads. Funny thing is I had checked with Windsor police and Ontario police in Windsor over the weekend and they had nothing negative to say. In fact one officer grew up in Harrow and said Sulja had a good familly reputation and long-standing business in form of smaller Home Depot type. Too bad I didn't follow up with the RCMP too who were closed then and wouldn't reopen till Tues morning. And then I decided no need to call. My mistake BIGTIME!!
Sometimes you have to override the apparent "logic" that faces you and go with your deeper sense, ie intuition. I believe Petar has the financials and has not been delaying their release out of any negative attitude towards us shareholders. Something last minute which will be cleared up tonight. AFs will be posted before the open tomorrow - my gut call.
Might be a simple reason for the delay: Petar wants supper hour to be out of the way before unleashing the hounds. He knows he'll be inundated with calls when he does regardless of what the AFs show. (That's if he's still in town.)
OT. Which one -Connery, Brosnan, or maybe the new guy? (Just trying to pass the time with some jokes. Takes my mind off the Unthinkable.)
Diggler, you're Australian?
My sentiments exactly. Holding all but was sorely tempted to sell, half near the close - in fact tried at .093, then .091, but no luck. Let the chips fall where they may. (In Muley's field, with all those cows around ,chips falling is nothing unusual.)
Not to mention if there was any legitimate concerns they might have had, highly doubtful Petar would be off travelling this week.
Muley's take - and it's been mentioned before - why in the world would a company take the step of having its financials audited if it was not confident in the underlying health of its operations?
That kind of logic has yet to be shaken by any of the would-be bashers. Now that doesn't mean that the AFs will agree with the unofficial ones posted - and in light of the differing accounting principles in play in the various countries involved that would not surprise me at all -HOWEVER IF there are any meaningful discrepencies I will still stay fully invested here unless and until it is proven that we have no further relationships with ME firms. That is the engine that will drive this vehicle.
The very act of voluntarily submitting to an external audit, regardless of what the numbers show (due to conflicting accounting principles as mentioned above), speaks volumes to the integrity of this "pinkie".
I think he should enter riding a camel (which is just as ridiculous as those who think of only Eskimos and Mounties when describing Canadians - hence I apologize in advance to my ME friends. Just kidding around).
C.mon get real. Why should there be any run-up when everyone who believes in this stock - as I do - has had weeks to enter between 10. 5 and 12 if not better. That's exactly where it will stay prior to AFs and that's fine by me.
TA. Chart shaping up nicely. Positive divergence on slow stochs holding, not to mention the great tail and bullish engulfing candle. A thing of beauty for next week. But all depends where it closes today. Still, looking great right now. Congrats all who held and thanks for the great dd the past few months.
Sorry Fringe, as I posted twice you were wrong in your wedge and premature with your head and shoulders analysis. (I've been doing this for 18 years.)
Hey, Nov. 15th, wouldn't that be about right for a Q filing too? eom
Manny, very astute.
You know as much as I. Thanks for the paste. Just seemed to me that he was giving us a strong clue in that response.
It's a battle of epic proportions!
TFN,I'm surprised more have not focussed lately on Petar's comment on the blog in response to someone's question about the possibility of any mergers, acquisitions etc going on at the moment. His answer was an enthusiastic one in the affirmative. That could indeed explain the delay as they want things nicely wrapped up to present a powerful one-two punch to really rocket this thing up. We all know about the Consultech deal in the background but that excited answer from Petar makes me think it's very much a current concern. JMHO.
If anyone could paste that section of the blog, it would be helpful. I have to leave for work.
Fringe, a head and shoulders which has not broken its neckline yet, hence, still ok.
Swayne, good TA post. You've drawn the correct trendline connecting the most bottoms. That is the true trendline and yes, it has NOT been violated. Setting up perfectly for a strong run if the AF's come out Fri/Mon. I'm 100% in and holding.
Luv, well thought out post. Excellent. Agree 100%.
Posted by: texasjerry
In reply to: Waverider110 who wrote msg# 130212
Date:10/24/2006 12:03:44 AM
Post #of 143473
my shares will be for sale on the rollout tomorrow in case any of you pumpers are looking for any cheap shares
Hmmm, yet you stuck around for over a week. Wonder why...
Fringe, can't agree with your wedge theory. Take off the log setting and it's a clear channel and no breakdown. Plus, your post history expose an agenda.
OT. Never chatted but my thoughts of support are there for you. Picture golden positive energy throughout your body. You'll be fine.
With all due respect, on a linear weekly and not log chart which you have shown, I see no rising wedge - only an almost perfect rising channel which is bullish. But these things do leave themselves open to more than one interpretation.
Chart observation: Similar Slow Stochastic divergence as of today as in July and September just prior to major breakouts. Let's hope recent history repeats itself.
(Tried to paste 3 month chart from BigCharts but no luck.)
Greenspirit, Muley also throws his support behind you as moderator. You're doing a fine job.