Sulja Bros. Building Supplies, Ltd (SLJB)

[MarionPolk]

Sulja's financials showed over 12 million of receivables. If 10 million of that was a debt from LFWK, then the whole "merger" could have been a screen to talk up the LFWK stock price so the company could raise the cash to pay off the "loan obligation".

The "formalities" remaining may be an adequate stock price which should have been a requirement to conclude the merger. Since the price couldn't be driven to the required level (20 cents?), then the "formalities" may never be concluded, but at least the company or officers got to sell enough stock to raise some cash.

The initial claim of insiders "owning more than the legally issued number of shares" has been shown to be false by subsequent press releases. This may be a simople case of the short squeeze that never was.