Sulja Bros. Building Supplies, Ltd (SLJB)

[Stock H.O.G.]

To: My fellow longs....

I was away from my PC most of the day and just got back to see how the day went. PR from Petar, bashers galore, emotions running wild, down 17%......pretty crazy day overall. Here's my take on it:

Everyone wanted a communication from Petar and we received it. However, I do think it should have been delivered Tuesday morning. Anyway, I thought the PR was straight-forward and concise. PV clearly stated that it was the "wording" that needed to be changed, not the numbers. If you search for other audited financials on the web, you'll see that AFs can be any number of pages....10, 20, 40 pages, etc. I would think the more complex (global) the audit, the more pages you will probably see. There is much verbiage in the "Notes to Financial Statements" section of AFs, which is where I believe they need to make some changes. I believe someone on the Board of Directors in the M.E.(did I say the BODs needed to review the AFs in my post yesterday? Yes I did) requested some wording changes. Heck it could have been the changing of one word. PV and company can't just make that change. They need the auditors to be in agreement, otherwise, the audit would be null and void. With all of the holiday action in the M.E., it seems quite reasonable that the changes have not been finalized yet.

Bottom line, I really don't think this will take long to make the necessary wording changes and PV said he will release the AFs ASAP. Hang tough everyone, if you can. I know the up's and down's can be hard to take. I don't like seeing my account drop the way it did today, but I'm going to love seeing it rise when PV comes through again (yes, late as usual).