according to their pr's Sulja Bros. Building Supplies Releases Share Structure
WINDSOR, ON, Aug 22, 2006 (MARKET WIRE via COMTEX) -- Sulja Brothers Building Supplies, Ltd. (PINKSHEETS: SLJB) announced today that the company is releasing the current share structure to the investing public. Sulja Bros. currently has 800 million shares authorized with 500 million shares outstanding. All share counts have been rounded to the nearest million.
CEO Steve Sulja stated: "The current outstanding shares are 500 million. There are 362 million shares held by insiders. Of the 362 million insider shares, 162 million are restricted. There are 138 million shares in the public float. The number of inside owners, of 10% of common class shares, decreased after the reverse merger. The increase of outstanding shares from 200 million to 500 million excluded holders of 20 to 50 million shares from insider status. Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."
Source: Sulja Bros. Construction Supplies, Ltd.
this is the earnings that will be released next month
Sulja Bros. (SLJB) to Release Positive Financials
Monday July 31, 2:35 pm ET
WINDSOR, ON--(MARKET WIRE)--Jul 31, 2006 -- Sulja Bros. Construction Supplies, Ltd. (Other OTC:SLJB.PK - News) today announced that it will release pertinent and positive financial information to its shareholders. Year-end (fiscal) numbers will show revenues of $63M+ for 2005 and gross profits of approximately $28M+. The net profit for the year-end audit will surpass $15M. Monthly financials and a pro-forma will soon be available to the public at www.suljabros.com.
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CEO Steve Sulja stated that although "the numbers show a good year, we intend to increase margins and overall revenues quite substantially in 2006." The company anticipates NET profits greater than $3M from the supply-side agreements it has attained with the Red Sea Group, an investment banking and asset management group with interests primarily in the Middle East.
A spokesman from the Red Sea Group confirmed the above and stated that, "the Company's partnership with Sulja Bros. is bursting with potential that is rare among businesses seemingly so disparate in geography."
CEO Sulja and The Red Sea Group also reiterated that there will not be a reversal of shares, and that the new entity is capable of sustaining the numbers necessary to reach a broader exchange.
