Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
This has been going on since 2007. My post from 3 weeks ago;
binzur Member Profile binzur Share Tuesday, January 11, 2011 2:58:19 AM
Re: JONAH 2 post# 20432 Post # of 20499
Company is dumping shares as fast as ever. R/S is coming so .0001 looks a good deal better than R/S and more company dumping and the price dropping again. This has been going on for 4 years and there is no reason to think it is changing any time soon. People need to get out of this worthless company and cut off Eugene's printing press. If no one buys this worthless POS stock then no one else can get hurt. JMHO. GLTA
Very well said!
Company is dumping shares as fast as ever. R/S is coming so .0001 looks a good deal better than R/S and more company dumping and the price dropping again. This has been going on for 4 years and there is no reason to think it is changing any time soon. People need to get out of this worthless company and cut off Eugene's printing press. If no one buys this worthless POS stock then no one else can get hurt. JMHO. GLYA
Note my previous post is about 2007 and 2008 activity and it is still going on today. R/S coming and then process starts all over again. GLTY
Sometimes you need to look at the past posts about stocks. This is one of many posts I made which cover exactly what has gone on and what continues to go on now and will continue in the future. All of the money from the dumping of shares goes to the owner and he doesn't care what it does to the shareholders;
binzur Member Profile binzur Share Monday, March 03, 2008 11:26:33 PM
Re: jb55 post# 796 Post # of 20424
This has been going on since the CEO who is the only board member voted himself super power voting shares and then raised the A/S by using his super power voting shares which I believe was illegal to bypass the shareholders. Last year around this time is when the dumping started then R/S then dump then r/s etc. and if you haven't noticed the dumping has ramped back up again and this CEO has absolutely no concern for the shareholders. Sell now as this is going down down down until the R/S and then he will start it all over again.
JMHO! GLTY
Binzur
A blast from over 2 years ago!
Posted by: binzur Date: Sunday, January 07, 2007 9:50:50 AM
In reply to: None Post # of 297570
ALL LONGS AND THOSE LOOKING TO BUY SHARES. Please take 10 minutes and read this and the other posts that I list. This will absolutely be my last attempt to try to help save you money! I promise not to post on this subject again. PLEASE take the time to read these. It may be the best investment decision you will make!
1. Post 236782. D & B report for Sulja Canada. Scroll through the report to the public record section. The last entry in the Public record section is March of 2005. If Sulja Canada had merged with Sulja Nevada there would be a public record of that! It would be included in that D & B report which was updated November 1.
2. 236602. OSC discussion.
3. November 16 PR. From Petar; "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.""
4. In November I spoke to the SOS Nevada. There are only two possible amendments in their public records that could be merger filings with SOS Nevada. They are the amendments on July 20, 2006 and July 21, 2006. Every other amendment has notes and deal with share structure change only. In my conversation with SOS Nevada they told me that both of the amendments were involved in changing the name from Loftwerks, Inc to Sulja Nevada. BOTH! Now read this post. It is post 58141. It was pm'd to me yesterday. Notice the ammendment on July 20 changed Loftwerks, Inc. to Sulja Bros. Building Products, Inc! The name change on July 21 changed Products to Supplies!
"Posted by: Rocky959
In reply to: None Date:8/28/2006 7:02:35 PM
Post #of 237191
Received the Sulja file from Nevada. As we know the changes have all been amendments.
This is what I recieved on 01/20/06 the AS went from 200,000,000 amended to 500,000,000 then we have on 07/10/06 an amendment that takes the AS from 500,000,000 amended to 1,000,000,000, then 2 days later on 07/12/06 we have the AS of 1,000,000,000 amended to 800,000,000.
On 07/20/06 we have and amendment that changes the companies name from Loftworks to Sulja Brothers Building Products,LTD then on 07/21/06 we have another amendment which is once again a name change to Sulja Bros. Building Supplies. LTD
No asset have been transfered. Sulja put out a press release stating the assets have been transfered. That is not the case. Anytime Sulja files just one little piece of paper with Nevada it becomes a public record.
You can call the Secretary of State, Dean Heller at 1-775-684-5708. Give them Sulja's name and ask them to send you Sulja's entire file. It will cost 2 dollars per page and if you want it delivered right away then for a fee of $75.00 they will FedX the file to you.
The stock is being diluted not by naked shorts; it's a group of people that are after unsophisticated/novice investor's money,IMO.
If you end up losing your money I hope you will go after these people with as much energy as you've put into trusting and defending.
Good Luck,
Rocky"
If you do not believe this call the SOS Nevada Monday morning. Order the paper filings for 2006 and have them express mailed as this poster states. Go over to your private yahoo group and have someone other than Airys do this and report back to that group and I would hope this group. You will find that the Canada Sulja was never merged into the Loftwerks shell. No public record and if there is no public record it never happened!</b.
Good Luck to all!
Binzur
I have followed this for a long time. Congrats to all who held through all of the dumping. I saw a run like this in December/January '06-07 and in a couple of days ran from .0035 to .024. Since that time it has been generally all down with company dumping and R/S's. No idea why this is running so good luck and at some point lock in your gains! GLTA!
Binzur
You are wrong on this going up. Read my other posts here. He will dump more shares and then the only way this is going up is via a R/S. Then he will continue to dump shares and the price will drop and another R/S and so on and so on. Maybe work in dome meaningless fluffy PR's as is the track record as well. This CEO has no loyalty to the shareholders and there is absolutely no reason to own this stock with the dumping track record of the CEO! JMHO GLTY!
Binzur
Binzur at 7:06 am April 8 posted "Watch for the next fluffy meaningless PR, it is coming soon and more dumping and price drop to follow no matter what your morning Doji Star says!" Then at 7:12 am on April 8th there is the fluffy meaningless PR, then the dumping and the price drop! You call that bashing, I call it one heck of a prediction and sure enough it was exactly correct. I am here for one reason and that is to warn people about this CEO and his total disregard for the shareholders. GLTY!
Not at all! I think you do, as your morning Doji isn't looking to good! I haven't owned this for over a year and did very well with it when I did own it. I got out when I saw what I believe is the illegal voting power share move by Eugene and the total screwing of all of the shareholders last year in January. Just here to make sure pumpers like you don't suck any more newbies into what is obviously a share dumping CEO who doesn't give a rats a** about his shareholders. Watch for the next fluffy meaningless PR, it is coming soon and more dumping and price drop to follow no matter what your morning Doji Star says! LOL!
JMHO
Binzur
I have followed this company for over a year and seen everything there is to see about this CEO. Your glass must be full of a bunch of shares of this dog that are worth so much less than they were a year ago. Sell today as they will be worth even less than they are today 60 days from now as the CEO continues to dump shares at the expense of all of the shareholders. Then another R/S and more of the same. Look at my posts from a year ago and then look at what has happened to the shareholders value since then! My glass is crystal clear and my track record on this stock speaks for itself. Good luck with your morning Doji! LOL!
JMHO
Binzur
What a crock! You clearly haven't followed this stock. Morning Doji! LOL! These are the same kind of PR's they broke out last year at this time while the CEO dumped shares. Last year the same PR about new equipment at the mine, going to be ready to really gear up the mining operation. The volume is up as the company is dumping more and more shares. This is going down and then another R/S. GLTY! JMHO!
Binzur
Same BS story as last year. Save your money as my last post I almost added to watch for the next fluffy BS PR and then more dumping of shares. This dog has flees and they are in dump mode with BS PR's that are the same as last year. State of the art miner, inspection complete but this time Triple A, woooooopee! What a crock! Read my posts from last year and look at the price trend with my predictions since last year. Sell and move on!
JMHO
Binzur
The only time this is going up is the next R/S. That will be the "break out" before more and more shares are dumped and the price drops low enough to repeat! Save your money as this owner doesn't care one bit about the shareholders.
JMHO! GLTY
Binzur
This has been going on since the CEO who is the only board member voted himself super power voting shares and then raised the A/S by using his super power voting shares which I believe was illegal to bypass the shareholders. Last year around this time is when the dumping started then R/S then dump then r/s etc. and if you haven't noticed the dumping has ramped back up again and this CEO has absolutely no concern for the shareholders. Sell now as this is going down down down until the R/S and then he will start it all over again.
JMHO! GLTY
Binzur
There is no double bottom when the company continues to dump shares! This is a dump, split, dump, split, dump company. All the while your value drops and drops and drops. Look at my posts on this company from last year. Nothing has changed and the CEO will continue this process.
Stay clear of this as one!
Binzur
We have been all down the Class Action path with SLJB starting over a year ago. Jannie will attest to the work that we did and in the end the Attornies (multiple) declined to take the case without a significant retainer and no guarantee of being able to find any assets to make it worth doing. We had assemble investors who had collectively lost over $1 mil, maybe even more than that so there is a distinguished list that Jannie has of investors who would join but only if the Attorney took this on consignment. We found after the Attorney does an asset search they will not take the case.
I always thought the transfer agent had liability and also insurance. I further thought the brokerages who allowed the nominee accounts to trade unchecked had liability and insurance. Don't know any "accountants" that would be on the hook here! JMHO
Binzur (assistant moderator of this board last spring)
Trip down memory lane!
Posted by: binzur
In reply to: benzdealeror2 who wrote msg# 239513 Date:1/9/2007 2:56:40 PM
Post #of 291615
There is no public record in the SOS Nevada that shows any merger took place. There are two amendments in July. The first July 20, 2006 changed the name of the Loftwerks public entity to Sulja Bros. Building Products, Inc. On July 21, 2006 they corrected the incorrect name change and changed Products to Supplies. That is a simple corporate name change not a merger! They also filed a name and symbol change with the SEC. There are no merger documents of any kind in the public record of Sulja Nevada!
https://esos.state.nv.us/SOSServices/AnonymousAccess/CorpSearch/corpActions.aspx?lx8nvq=3jTAXTqYdC80kvn1T3%252fB8Q%253d%253d&CorpName=SULJA+BROS.+BUILDING+SUPPLIES%2c+LTD.
Actions\Amendments
Action Type: Amendment
Document Number: 20060832089-28 # of Pages: 1
File Date: 12/28/2006 Effective Date:
Previous Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00 New Stock Value: Par Value Shares: 725,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 725,000.00
Action Type: Amendment
Document Number: 20060617400-56 # of Pages: 1
File Date: 09/26/2006 Effective Date:
Previous Stock Value: Par Value Shares: 850,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 850,000.00 New Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00
Action Type: Amendment
Document Number: 20060590358-48 # of Pages: 1
File Date: 09/14/2006 Effective Date:
Previous Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00 New Stock Value: Par Value Shares: 850,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 850,000.00
Action Type: Amendment
Document Number: 20060462963-68 # of Pages: 1
File Date: 07/21/2006 Effective Date:
(No Notes for this action)
Action Type: Amendment
Document Number: 20060460755-05 # of Pages: 1
File Date: 07/20/2006 Effective Date:
(No Notes for this action)
Action Type: Amendment
Document Number: 20060442697-10 # of Pages: 1
File Date: 07/12/2006 Effective Date:
Previous Stock Value: Par Value Shares: 1,000,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 1,000,000.00 New Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00
Action Type: Amendment
Document Number: 20060436273-63 # of Pages: 1
File Date: 07/10/2006 Effective Date:
Previous Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00 New Stock Value: Par Value Shares: 1,000,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 1,000,000.00
Action Type: Annual List
Document Number: 20060294842-37 # of Pages: 1
File Date: 05/09/2006 Effective Date:
(No Notes for this action)
Action Type: Amendment
Document Number: 20060034702-44 # of Pages: 1
File Date: 01/23/2006 Effective Date:
Previous Stock Value: Par Value Shares: 200,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 200,000.00 New Stock Value: Par Value Shares: 500,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 500,000.00
Action Type: Amendment
Document Number: 20050165309-21 # of Pages: 2
File Date: 05/04/2005 Effective Date:
(No Notes for this action)
Action Type: Initial List
Document Number: 20050133667-83 # of Pages: 1
File Date: 04/19/2005 Effective Date:
(No Notes for this action)
Action Type: Articles of Incorporation
Document Number: 20050133666-72 # of Pages: 4
File Date: 04/19/2005 Effective Date:
Initial Stock Value: Par Value Shares: 200,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 200,000.00
Return to Corporation Details for "SULJA BROS. BUILDING SUPPLIES, LTD."
texas tom; No shorting just massive dilution from the company. They will continue to dump shares and there is no end in sight. This is going down again just like the last time. Sorry but no bounce is coming.
binzur
More important news. T/A is gagged as of this week and they are referring callers to SEC.org! That is not good news at all considering how actively the company has been dumping shares. Watch for the dilution to ramp up over the next 6 weeks. That is not good for the PPS. JMHO!
Binzur
If Kore bought Colchester land with monies from the illegal sale of shares through the nominee accounts that land would actually be the shareholders land. This could very well be part of the disgorgement I hope is coming.
JMHO!
Binzur
Where is EMAAR, VISTA, RED SEA GROUP, CONSULTECH! LOL Remember that old flow chart that was in the IBOX and someones signature. Who was it that had the flow chart with all of these as their signature? I can't remember!
Binzur
Nice post sandshark. I couldn't have stated it any better. The OSC has to unravel all of the movements in the shell game. They don't have a video tape replay. They weren't there when Petar, Steve, Sam, Dennis and Andrew were doing the curly suffle! I always wondered, why all of these different companies. Kore USA, Kore International, Consultech Midwest, Consultech Ontario, Vista, Sulja Ontario and Sulja Nevada, now Sulja Building..... The more shells the more difficult to find the pea so to speak. You can bet that tracking the money isn't easy!
This is why I feel our best hope is the SEC forcing disgorgement of all ill gotten gains. They have the hammer and the power to force whoever has the money to return it and/or face substantial jail time until they do. This is the only hope for past shareholders, those who bought in 2006, during the time that the nominee sales were going on. This does not help those of you who have bought shares after the OSC/SEC Pr from the company in January '07. You were warned by the OSC action and more than likely you have no chance to recover anything if you purchased shares and lost after the OSC announcement. This comes from a securities attorney I know who started his career with the SEC!
GLTA
JMHO!
Binzur
Here is the problem. Supposedly Steve Sulja and family sold the assets and A/P of Sulja Ontario to Petar and Sulja Building Supplies, Ltd. in the handshake deal. So now you have the empty Ontario Corp remaining. That empty private corp is still a company, simply doesn't have any assets or basically an empty private shell company. So now I make a stock transfer of the empty Ontario shell to the empty Nevada shell to cover myself. So Sulja Bros Building Supplies, Ltd (Nevada) could actually own some or all of Sulja Bros Building Supplies, Ltd (Ontario) and yet own "all of that nothing" as Petar stated because they covertly sold all of the assets to Sulja Building Supplies, Ltd. Ontario, Petars private company! Shell game and you guessed it, the SLJB shell is empty!
JMHO!
You need to read the information closely. Kore is taking over Sulja Building Supplies, Ltd. Notice no "bros"! This is not Sulja Bros Building Supplies, Ltd. (SLJB) Nevada. The improperly filled out stock cert that Airys brought back on his spring trip convey nothing as it was incorrectly filled out...suprise, surprise! Nevada SLJB is an empty shell IMHO!
Good Luck to us ALL!
Binzur
Earnest; There is no valid reason that I can think of to incorporate Sulja Building Supplies, Ltd. in August of 2006 other than to covertly acquire the assets of Sulja Bros Building Supplies, Ltd (Ontario) all the while dumping the shares of SLJB (Nevada) an empty shell. Sulja Building Supplies, Ltd never had to be formed if Petars intent was to do what had been advertised and that is merge Sulja Bros Building Supplies, Ltd with Loftwerks and move the Ontario Company into the public shell.
So the only rational and logical conclusion is Sulja Building Supplies, Ltd is not part of the Nevada shell. Heck after Steve sold the assets of Sulja Bros Building Supplies, Ltd to Petar they could have and still might have moved the empty Ontario Corp with the same name into the shell via a stock transfer. Buy the assets and all you have is the empty private Ontario company and move it into the Nevada shell making it appear legitimate. Well that certainly has been blown out of the water today, even if it happened! JMHO
Good Luck to us all!
Binzur
I have been posting since November about a two Sulja Bros. scam, companies with the same name, one the empty Nevada shell. What I missed back then but caught when Airys brought the stock certificate back with the name Sulja Building Supplies, Ltd was there was a third company, controlled by Petar that bought the assets of the little lumber yard that were never part of the public shell. According to Steve Sulja and the Windsor Star article Petar never paid the Suljas their money. You can bet Petar also never moved Sulja Building Supplies Ltd into the Nevada Shell! Sorry but SLJB is an empty shell. JMHO!
You might as well stop with the civil litigation thoughts. I was involved in conference calls with both Dragos lawyers and also part of approx 20 burnt investors when jannie and I were researching law firms. I was part of the group that was going to retain the company out of Tampa. After their preliminary investigation they wanted money up front as they didn't have much confidence that they could find enough assets to make it worth their while. They could win a judgement but not collect it so to speak.
Our only hope is the regulatory bodies force disgorgement of all of the ill gotten gains from the illegal sale of shares. A friend of mine is a securities lawyer and started his legal career with the SEC. He advised me to complain and complain loudly to the SEC. He also advised me at the time that the SEC was the way to go over a class action. Making noise was the best way to get them to take action. If enough US citizens make enough noise they would act. I have been in contact multiple times with the SEC. I believe they are waiting for the OSC to conclude their action and then the SEC may very well take action. The nice thing about letting the SEC force the disgorgement is we as shareholders don't have to pay legal fees and if you can prove losses you will get a share of what they recover.
Good luck to us all!
Binzur
I just noticed the same thing. Shell game and the SLJB shell is empty! JMHO!
Binzur
What an awesome and informative website. Did you see all the jobs they have! I was so excited to read that. I also heard that Kore is now working out of the secretary Tracy Banamus' (one of the nominees) house. What a shrewd business move to save on rent. Premier Building Supplies went with a different and equally shrewd move of simply not paying rent at all! Getting locked up, all inventory seized with trucks!
So redskies is this a good stock?
JMHO
Binzur
Colorfull1; Many including myself have been trying to warn people here and on other boards since late November. Those that have continued to pump this since that time unfortunately deserve what they appear to have gotten. I hate to see anyone lose money and it especially disgusts me the way that we were all fleeced by the perps in this particular company.
Do you remember the pump crew that worked 24/7 last fall? I sure do. I remember Allinone and his crystal balls. Did you ever look at his profile? Born date was 9/1/2004! Look at the Anderson affidavit and Petar started forming the nominee accounts in September of 2004! Here is allinones first of over 1000 posts on SLJB in 3 1/2 months. Note the date of the first post! 8/2/2006! Who opens an account on a stock chat board almost two years before their first post?
Posted by: allinone
In reply to: EyesWideOpen who wrote msg# 25368 Date:8/2/2006 12:03:41 AM
Post #of 283559
This company is for real. I live in the area that their Canadian operations are located in and have had the opportunity on several days to see them in action. They have ties to UAE and they have thriving operations there. That is all I can tell you at this time. The future is truly based on the fact that those financials you saw are absolutely real!!!
Now I have to say that whoever this poster was they were part of this scam. I have thought with all the "in the know" information that allinone seemed to have that his identity was Sa Sul. JMHO!
GLTY!
Binzur
I believe you are correct and those were dumped the morning of November 16 and are the reason the stock price crashed! Was it the blog where Chad wrote to Petar that Andrew was real ticked that he didn't post the bogus AF's? I thought I read it there. Ticked enough to dump those shares?
I also remember reading from Airys Stockhog trip that all O/S are part of the public float and no shares were held anymore by insiders. So some time from 11/6 RCMP interview with Petar and Air hogs trip those 280 million shares were dumped. One only has to look at the volume and price drop to see that the most reasonable date they were dumped is November 16.
JMHO!
Binzur
PS a musical tribute to the vote to place Petar in the IBOX!
Enjoy
Money; You can only vote once and then you get "view results" and can't vote again on the particular survey. I was an assistant moderator here this spring and haven't posted for months until today, yet I read this site daily! So my vote was one of the 40 yes votes, yet I am not "visible" in posting. This shows your comment and suspicion is not correct! I love that picture and wish I had seen it before I bought my first shares in this disaster just about a year ago!
Have a great day!
Binzur
Earnest; IMHO I believe some or most of these "280 million shares" are the shares that were dumped at the open on November 16 by Andrew and or Petar. I have read where Andrew was quite upset with Petar for not posting the AF's (I still don't believe real AF's exist) and the fact that in the RCMP interview you cited Kore was in control of 280 million shares that clearly could be where the huge volume came at the open on November 16. That and some "in the know" shorting at the open and covering later. JMHO
Binzur
O/S as of 9/6/2007 is 223,956,143.
Look at the trading yesterday. They ran it to .0175 annd now it has walked all the way back down. Fluff PR and some more dumping. I read on another board that the company did not have enough A/S to cover the conversion requests.
End of note 9 on the 10Q
"On June 30, 2007, the Company had 975,000,000 common shares authorized, of which 732,704,185 shares were issued and outstanding. As of June 30, 2007, the number of common shares of the Company that could be issued upon conversion of all outstanding convertible notes EXCEEDED the REMAINING 242,000,000 authorized BY approximately 186,600,000 common shares, leaving the Company with INSUFFICIENT authorized common stock to honor all POSSIBLE conversion requests."
That proves more dilution is coming!
GLTY
Binzur
No the A/S remains the same and hence the next round of dilution has/will start. They can repeat and IMHO will repeat the last 7 months of dilution all over again.
JMHO
Binzur
I saw this coming in January. The real fishy thing is when Eugene gave himself a special class of voting power preferred stock. He apparently personally guaranteed a company loan and the company defaulted on that loan. As a one person board after he gave himself the voting power preferred he called for a shareholder vote to change the A/S and also gave himself sole power to raise A/S again, R/S at any time WITHOUT SHAREHOLDER APPROVAL!!! So he gave himself voting majority and then authorized himself total power and removed the shareholders from all decisions in the company. I found it difficult to believe that this was legal when it was done! Still think that it wasn't legal!
GLTY
Binzur
My concern is there is nothing stopping him from doing the same things the next 6 months that he has done the last 6 months. I do not believe he is lowering the A/S so he in essence took 900 million shares and reduced them to 225 million O/S. He now has another 700 million to use again if so chooses and I see nothing in the company that says he won't! Hope I am wrong but I clearly wasn't wrong in March with that post. GLTY! JMHO!
Binzur
I guess we are there! See bold below.
Posted by: binzur
In reply to: irondog who wrote msg# 540 Date:3/30/2007 11:34:35 AM
Post #of 665
"Of the 250,000,000 shares of common stock authorized, as of
January 16, 2007, 239,043,966 shares were outstanding." This is from the 14A filing on 1-29-07.
O/S as of todays call to the TA is 372,143,601. That is over 50% increase in O/S in 6 weeks. I call that dilution!
I don't know if the company is selling these on the market (no 504 or other forms have been filed). My educated guess is they are using the shares to get the mine rehabed and to start mining, which BTW isn't a bad thing. The company has no cash so they have to use shares instead of cash.
I believe they are going to dilute and then look for a R/S some time after the O/S gets close to 900 Million.
JMHO
Biznur