Sulja Bros. Building Supplies, Ltd (SLJB)

[Daddio5]

Fish
Excellent post!!!

FLOAT:

I agree with the reasoning on the company insiders selling shares. In March (I think) they said they would sell them back (to the MM's) at a much higher price. This IS a much higher price right now. You are correct, there MUST be a float to get on the Naz.

For the naz small cap however, the float requirement is only 1 million public float. Public float is defined as shares not held directly or indirectly by any officer or director of the issuer or by any other person who is the beneficial owner of 10 percent or more of the total sharesoutstanding.

http://www.perkinscoie.com/content/serviceareas/resourcecenter/corpfi/listingchart.pdf#search=%22pub...

ASSETS:
I think the assets will be announced first. Since these will be listed in the audited fins, makes no sense to do it later.

Remember, the assets are HUGE !! The hint was given that these assets will propel the value to that which is needed for the Naz listing. We are not talking merely about at $25 million dollar piece of land. This is much,MUCH larger.

LISTING REQUIREMENT
A company has three ways (Requirement Rule 4420) to get listed on the Nasdaq depending on the underlying fundamentals of the company. If a company does not meet certain criteria such as the operating income minimum, it has to make it up with larger minimum amounts in another area like revenue. This helps to improve the quality of companies listed on the exchange.

Requirement Rule 4420 (c)
Under this requirement companies must have at least $75 million in total assets, total revenue, or listed securities. Listed securities as defined by the Nasdaq are securities listed on either a Nasdaq or another national exchange. The market value of the shares upon listing must be worth at least $20 million. They are also required to add an additional market maker for a total of four market makers.

http://www.investopedia.com/ask/answers/121.asp

ASSETS
Listed securities. We all know foreign governments invest in our markets. We also know that the Dubai Goverment holds a large interest (25-30%) in most large firms or groups in Dubai. Lets say a large group we are affiliated with was going to invest in SLJB. Instead of giving them mere cash (cash is good, but...), they were to transfer to them their holdings in a listed security. Would this not help to satisfy requiremeny 4420c ? Would this not be better than just giving mere cash???

Still looking..........
good luck to all.....