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Eelfland. When I invest my money I put it in the COMPANY, not in the stock. Flipping flapping flopping stocks do not impress me, although of course I play as all do nowadays. On the other hand, I am moving my money more and more into private sector. I do not like WallStreet.
Sulja has growth potential, if its management will so, and does it. Let's see now.
Eelfland. I agree, back to business. Sulja is in a good solid business, and I have heard opinions that the bottom in construction and building (not in home building yet) in North America has been reached and left behind. I saw a chart which was heading upwards nicely. If they can broker/sell to outlands suits me.
I understand that Steve is busy today, and the PR he is going to publish shortly can be a very difficult paper.
But it would be nice if he just said "Hello" on the website tonight :)
Eelfland. Who knows. If they had presented the PRs as LOI (Letter of Intent) we would still wait for major contracts with starry eyes. Hopefully we do not fall too hard.
Did anybody have time to dig into this problem? I'll repost:
What about trying to find information of the Al Reem Island hotel project in Abu Dhabi - a USD645 million project, which PV mentioned in the Windsor Star interview. Land already purchased USD29mill, contruction starting 2007. I remember looking a site, where all the construction projects of Abu Dhabi were listed, but can't find it now. There is lot of information about all kinds of projects given by Abu Dhabi emirat(?), construction conglomerates, newspapers. I remember looking at a site something like "Gulfconstruction". There is so much material, and I thought some of you savvy computerists (?) might find there something usefull about this hotel project.
Did Steve/Petar give a PR about this project, can't remember.
Rocky. I'm just wondering what kind of homework you have done to end up to your conclusions. Where did you get your information - from Sulja Bros. or from this board?
Rocky. Are you sure what you say? Are you absolutely sure you are not backing rumours?
Looking forward to your reply.
STOCKHOG. I have been thinking that a meeting between a group of shareholders and the management - CEO and the at least some members of the BOD - is needed now. I am all in for that kind of meeting, just to clear the air for this message board. If it is an unofficial meeting, you can share the information with us here and perhaps on our new, brilliant web site! It is no insider information - we just want to get answers of some already published actions - answers that everybody could normally get by calling the IR person/department of a company. And I am sure you know the questions we have.
Steve Sulja will of course publish some information about these questions on the web site, and let's wait for that. But PRs never replace personal meetings, neither answer half of the questions we have. How long we will wait for the PR?
A group of shareholders could consist of the trusted ones here, who can travel to the head office. I leave that to you to think about.
Xanadu
Read the PR: "I ask you to be patient with me, as I will be posting a statement shortly." Ok. First test.
If we had had Steve Sulja as CEO all the time we could have had better follow-up of his statements and could have asked questions earlier. Petar was more concerned of his businesses in Colchester than of Sulja Bros. He took too much to do, and did not have any idea what is needed from a CEO of a public company with its shareholders.
You sound unhappy! Are you disappointed if there will be less mess than you hop ... er imagined?
Greenspirit. In addition to your list:
6. Renew the company website to a real website
7. Communicate with the shareholders in an understandable and easy way on the website
Tweet tweet, tsirk tsirk tsirk! Thank you Jantinna!
Penny. What about trying to find information of the Al Reem Island hotel project in Abu Dhabi - a USD645 million project, which PV mentioned in the Windsor Star interview. Land already purchased USD29mill, contruction starting 2007. I remember looking a site, where all the construction projects of Abu Dhabi were listed, but can't find it now. There is lot of information about all kinds of projects given by Abu Dhabi emirat(?), construction conglomerates, newspapers. I remember looking at a site something like "Gulfconstruction". There is so much material, and I thought some of you savvy computerists (?) might find there something usefull about this hotel project.
Did Steve/Petar give a PR about this project, can't remember.
And the Lafarge cement deal, or Poland cement deal? Could there be found any information about those in the net - when we apparently cannot ask (= trust) the CEO of SLJB.
Of course those are totally different processes, but a company like Sulja Bros. must keep their books every year pretty accurate for tax man. For a potential SEC audition the auditors need not dig those figures from the company's "memory".
A couple of weeks ago - before this hulabaloo started - Dave in the Sulja office told somebody, who posted it here that their average monthly turnover is ca. 1 million
Don't they have to have kept accurate records for taxation officials yearly? The latest fiscal year is examined more thoroughly for first audition.
StockHOG. Steve Sulja should know about Wessal, he was doing business with them. Wouldn't it be easier to ask him to confirm the relationship or at least give the contact information with Wessal than try to google it?
Does anybody have a link to the first article (Nov. 16) of the Windsor Star?
What is the talk about somebody trading SLJB shares at the Sulja office based on the WS first article mentioning one of the Suljas being a full time stock trader? What did the journalist say?
That trader was certainly trading stocks: timber, logs and lumber.
Has anybody talked lately with Steve Sulja? As the CEO of the company he must have been aware what contracts and agreements the company made in spring 2006, even if the contracts were negotiated by somebody else (PV?). He should know who were the counterparts and their connections. We should get an interview with him, and ask about the "unbelievable future" - or what was it - we should be thankful for.
Calm down, folks. It's almost frightening to see how people can stimulate themselves and draw other people into an almost uncontrolled hysteria. Yes, that's mass hysteria - very common development on the message boards - where the ability of sane discretion blows away, no matter what the subject is and no matter if anybody reads your message. Still, cant help smiling, when you see a bunch of Duracell Bunnies banging the same thoughts out day in day out.
Shut the PCs and get out! Take your girlfriend, boyfriend, husband, wife, kids, granma for a walk. Spend the weekend with them and not with the comnputer. The AF's won't come out any sooner, no matter how hard you are banging your keyboard.
DaFloorGuy. We do not get rid of all rumours and noise on this board before we have the audited report. Preferably made by PWC/KPMG, but of course they are not the only reliable auditors on this earth - there are other not so famous but respectable auditors too. But then we would at least know the legitimate situation and the net asset value of the company at the end of June 2006. What about the last quarter and the near future, that apparently remains still to see. I hope that getting that information in due course will not be such a chaos as this has been.
DaFloorGuy. All those connections - Wessal/Red Sea/Emaar were created, when Steve Sulja was the CEO, and he did release the PRs. But what is the situation now, we don't know. PV has not given much information - only that Wessal has bought some shares. But Steve Sulja should know to whom/where we should turn to to get the information we want about these connections and deals.
DaFloorGuy. Pick up the phone, call Steve Sulja and ask him to explain. He will know the answers to your questions.
Robins. She works at the Harrow office of SLJB.
Leslie has seen the documents. Why are you so nervous?
Thanks Dayla. Now we at least know that AFs have been done. Next question: how to get them out to us. Any information will there be any follow-up article in Windsor Star, and when it will be published? Jerseyboy said in his message 171724 that the lawyers had advised PV to publish the numbers after that.
Jerseyboy - or anybody - if you speak with Leslie or Dave at the Harrow location ask them what they know about the preparation of the Audited Financials - have they seen/copied/mailed the documents?
Frenchy. I have the same feling. PV has appeared like a simple, honest working man, who don't know much of the Wall Street. He gets "advice" from lawyers and "real" business men, gets even more confused and cannot handle the situation. I think he is primarily interested in his own Colchester businesses than in Sulja Bros. A new CEO would be essential for Sulja, but apparently there is a lack of volontiers to this job now. lol.
The ownership of shares should be get cleared. Why did Sulja family sell a profitable business with great future? Steve Sulja was a young man at the driver's seat. How much have they sold of their shares, and when? This may be impossible to find out, but if they do not own big portion of the shares you might think they have sold, thus anticipating the future.
Testekleez. I remember some poster telling that KPMG Canada has worked previously with LFKW but not with SLJB.
StockHOG. Nice to have you as a moderator. Maybe we can now hear more about your good solid common sense thoughts here.
This day has been a horrible day in every way and it has been depressing to read the board - after all best source of information for us individual investors - and all the infantile malicious mocking has indeed crumbled the imago of SLJB. Both the article and his reply were crap. Mr. PV has not certainly seen the article before publishing.
I red here that maybe a new article of the subject will be published, and that surely would help to clean the reputation of Sulja Bros., and hopefully of Mr. PV too. If - and I mean if - that is the case, and when the dust settles, we could also use the power of media, and send a Letter to Editor to Windsor Star to present a shareholders' view of the situation. You know the influence of the skilfull "last word" - who gets it is the winner. We have very good writers here, who could be our defence.
xanadu
Rick8. Thanks for the list of topics. Maybe we must wait for the documents before we even know what we can discuss. I know that all eyes will look at the bottom line of the financials. But more important, will there be any forward looking statements or information of filing a July-August quarterly report.
Metropick. There has been posters on the board, who had good knowledge about the whole auditing process. It would be nice to hear their opinions about what is important in the coming numbers in addition to the bottom line.
Experts Ahoy! When the numbers come out what should be important to look at there?
Alea iacta est. Tonight we will know are we heading for a lofthouse or a doghouse. Good luck and stay calm.
I am sure we all have a lot of questions about the company, and Mr. V. has not been any Father Sun of All PR/IR Information, but one thing has kept me calm: somebody (Wessal??), who has supported so long the price at this level, must be quite confident in SLJB. Nobody throws so much money in a cheat.
AUDITED financials are automatically filed with SEC/EDGAR, that's common practice. In general the companies do not even mention separately that the AFs or annual financials are filed with SEC. That's a must with AFs. Quarterly financials need not to be audited.
Yes, that's the same thing. SECs database, where the documents are filed, is called EDGAR. It's an acronyme for a long name, which I don't remember. I think it can be found out on EDGAR's site somewhere.
No mess here. All audited financials are audited for SEC - otherwise there would be no need to do it (and pay dearly for it). Audited financials are sent to SEC, SEC files the documents immediately in EDGAR, which is SECs database for these financial documents. SEC/EDGAR publishes the filed documents (and pays for the publishing), and we can see the published documents e.g. on Yahoo's sites. That can take some days before they are published, but you can see the documents immediately on SECs site, after they are filed there.
I understand that Mr. Vucicevitch has also stated on the Sulja's blog site and had confirmed on phone to Jannie that the AFs will be filed with SEC.
Daddio/STATX Read this:
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093132241
Yes, one could think that this is good time to list in ME, when the Gulf stock market is depressed, but how far is the bottom yet? Oil is not in favour now, and even EMAAR has gone down since its IPO. I think SLJB should wait for the signs of take-off in DIFX/Gulf market.
WhiteSands. Yes, don't you think it would be nice to get our foot in that surroundings... no problem with the incomes.
but, there seems to be only three equities listed in DFIX, and only one foreign company IPOing there. Investcom LLC was listed there, but has delisted in August - however due to acquisition by MTN International (Mauritius). I still think listing SLJB in DFIX should wait. Daily exchange there is minuscule.
A long but interesting article about Dubai:
http://www.metamute.org/en/Fear-and-money-in-Dubai
and about Gold Fields' (GFI NYSE) listing in DFIX:
http://fr.allafrica.com/stories/200610240264.html