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"more than likely you are cutting even on the products"
When margins are probably around 6% selling for 20-50% off you are losing money bigtime.
Sulja will not be selling much if any of the stuff they carried at the main location. They have no space to or any customers who would go all that way past other yards for supply (if you look on a map with the other yards you will see)
Sams was/is just a small drywall supply store, it is an off shoot of SBT construction which is right beside sams. Serge was more than happy to be rid of it as it was dragging the construction side down with bad debts. SBT has the contracts and sulja has a rented area and some drywall, not so much of anything really. IMO
So did you call up Serge? SBT is Serge and Tony (Serge's dad) they were pretty happy to be rid of Sams. They are still trying to collect on bad debts AFAIK.
They have sued no one at all yet claimed in a Pr to have already won. Lies lies and more lies..................
Sulja has enough legal troubles to eat through cash for a long time. They will not be suing any message board posters. LOL they even lied about it in a PR already, still waiting on the seek and destroy......what about 6 weeks now maybe more...........
Discovery goes both ways and would be very ugly for sulja.
Not answering those questions is quite telling and interesting.
I have no idea, time will and it will be very telling!
I bet the couple dozen ex-employees are not going though!
How big are the margins in that business 6%ish i would guess. That is a long way from 20%-50%. If that is not a loss what is?
Here are a couple sulja ads from local papers
http://www.suljabrossucks.com/docs/Amherstburg.Echo.ad.pdf (173kb)
http://www.suljabrossucks.com/docs/Harrow.News.ad.pdf (173kb)
Sulja building is relocating! all inventory must go!!!
All sales are final
They would not have to move it far, what about the other location? They must have trucks, it would be easy. Selling off all the inventory at 20-50% is quite the loss.
I am afraid you will have to phone around town yourself. My sources are my own and if i give them out to all the clowns on the street they would not be happy with me. Phone Serge B. and talk to him about SBT.
Or better yet phone Leslie, you can also ask her about "all inventory must go " and "20-50% off" Quite the liquidation going on!
Sams was one of 2 (most minor of the claims) of the 46. The interesting thing about Sams is...... A fellow i chatted with from the region and in a related business told me that the profitable side of the business was not sold to sulja, The contracts went with Serge B. Its kinda like that empty shell that trades.
Note the owner and spiel associated with sbtconstruction
http://www.windsorhomebuilders.com/business_profile.cfm?clientID=283
"SBT is a supply and install contractor serving builders and private home owners alike. We offer a full range of Drywall, Steel Stud and Acoustic ceiling tiles to take care of all of your home and addition needs. Whether you are building a million dollar custom home, or a more modest sub division project, our experienced and knowledgeable staff will ensure that your project will be completed on time and within your budget."
Not all is what it appears to be!
The company also said not to rely on past press releases, LOL considering they have failed in 44 of 46 goals in the last year why would you believe a personal attack on a reporter?
Well Hockmir, they were advertising "all inventory must go" and 20-50% off. Didn't you know that? Surely Leslie told one of the longs who are always in touch with her? or maybe she just forgot they were closing the main store and liquidating the stock? .
Read Gary Rennies latest article. It came out yesterday.
They are closing the main yard liquidating the stock and moving to a smaller area in another province, maybe. Considering the lawsuits and OSC action. I would be pretty worried about the company if i held a position.
Sams is nothing really, as all the best/profitable part was not sold to sulja and the Tsecumesh(sp?) store is a tiny storefront with pretty much no substance. Pretty sad.
"Haven't you previously pointed out photos which you claimed showed the yard was devoid of stock?"
Nope
"Then what exactly is your problem with phasing the operation out in favor of a new large operation"
Actually as far as i can tell it is smaller.
Well considering that by last week they had no business licence, I would be wanting to see some proof they actually are moving.
So they have closed there main operation down to open a smaller warehousing operation in a new city where they have zero recognition and no credibility. That sounds not so good does it?
The Calgary location most be unimportant to them if they cannot even say where it is? You would think they would be proud?
I thought they were liquidating inventory? sounds pretty scary having the main store closing and selling off the stock and an unknown new location. This combined with coming regulatory actions i would be worried about what is what and going where?.
If they were above board they would have no trouble releasing the addy. Every other company does.
So now instead of having sams, harrow, windsorish? all in Ontario they will have sams, windsorish? and Calgary Alberta. That is not consolidation, unless they are closing all Ontario operations? Which i would still call moving over consolidation.
No they are not. Check out the definition of consolidate.
"Its a PR while we are under investigations,
Make big difference"
No it does not, USXP is a prime current example to the contrary to what you say.
The idea of
"we are closing our main store but will not tell you where we are moving"
Call me crazy but i find it about as suspicious as it gets, not so inspiring to say the least.
Pretty pathetic company! We are moving but we will not tell you where! Hope they get a business license soon!
It is pure speculataion that this is even the building leased in the picture! Sounds like a shady company to say the least.
investorpedia or something like that can explain what an unsolicited stock is to you.
The only positive thing i know about sulja (note sulja not SLJB) is they seem to have some assets and a running business which many "companies" like this do not. I was actually going to do a pros and cons page but it would be one sided as the company has lied so much and the management is pathetic. Writing decent Prs is something almost anyone could do and goes directly to competence.
I am not the subject here nor your paranoid fantasies of paid bashers and such.
Whether the term allegation or charge is used is irrelevant the panel will decide on the allegations/charges and dish out what they see fit. They could care less about your view of the english language.
Its unsolicited the MMs don't buy anything.
No, I would love it if someone would pay me for doing research. Unfortunately the paid basher stuff is not true.
I tend to stick to real companies/shells or very short term flips of scams (only ones i do not post about). This is offtopic if you wish to continue you can PM me.
If you did your DD on IB you would know that they require 2.50 margin for each share SLJB dropped so hard it was not even near worth it and was barely even before. You do the math and get back to me.
I enjoy DD, scams like this one are interesting. Its very simple .
No this is a Canadian regulatory agency hearing, it has absolutely nothing to do with the USA or its laws, for a bit anyways.... The nominee accounts are pretty much enough to do it and i would bet they are just the tip of the iceberg.
Thank you very much, means lots coming from you :) doyourdiligence.com (general DD site) is next, then PNMS is next.
Well pull all the docs on consultech and such, i really can't be bothered to pay for DD on this stuff as the OSC and civil suits and such will release lots of info soon enough. The Prs are all dubious but they tend to hold a shread of truth and the wording is very telling.
Do i look like lexis nexis? Do your own DD. geeez
Steve Sulja
-Ex Loftwerks CEO
-President of SLJB
-President of Sulja building Materials LTD.
-Director of Sales and Marketing Sulja building supplies
-Pres International Building Products
-Director of Sales and Marketing CCM Inc.
You can find it in the Prs here:
http://www.suljabrossucks.com/history.html
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.
Not sure why you care but i thought i would be nice :)
site last updated 2005
Today
Weyerhauser Co. the worlds largest lumber producer, will shut its Claresholm, Alta., joist plant permanently because of a North American housing slump. ....................
(copied out of Saturday's Globe and Mail, which is Canada's largest national newspaper)
Hope sulja gets a business licence soon, as of last week they did not have one.
Kore is
Andrew DeVries III
-Secretary and treasurer of Kore International
-Director of Kore International (USA)
-Board member THREE S PROJECT DEVELOPMENT LLC (TX, not in good standing)
-Founder and Board member American Qualified Financial Services Inc. (TX, not in good standing)
-Ex pres and CEO Nannaco
-"Mr. DeVries was Sales Director for Internet Direct, Inc. in San Antonio from 1994 to 1997. In 1993, Mr. DeVries founded DeVries and Associates, a financial services company and served as its president until the founding of Nannaco. Mr. DeVries holds a Bachelor of Arts from North Texas State University and a Master of Arts from the University of North Texas" from SEC filing
-IR person for Blitztrader 2005-2006
Petar Vucicevich (AKA Peter Wolfe, Black Pete, Petar Vercicevich, Petar Painter)
-President of Kore International Petar Vercicevich
-Director General of Consultech Construction Management Inc
-Ex Director General of SLJB
-Consultant to SLJB
-(?EX) Secretary and Treasurer of Sulja building supplies LTD.(Ontario 2112174)
- Director of Kore International (Canada)
- Painter for Dante Capaldi homes
From here
http://www.suljabrossucks.com/players.html
No they were not, Red sea was contacted (2 brothers IIRC) they had been contacted by sulja and nothing had gone any further that that. No business was conducted or any further contact was made.
Wessal is who was made IR for a bit, they have never been found to be legit. A web site popped up in Febuary but nothing more.
"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......"
You can search through all the SLJB PRS here
http://www.suljabrossucks.com/history.html
The last i saw the trim shop was pretty much empty. No one has ever found the truss shop, another SLJB failure 1 of the 46
i have counted.....
"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). "