Sulja Bros. Building Supplies, Ltd (SLJB)

[MarionPolk]

An IPO involves an underwriter, some degree of due diligence, some financial disclosure, and the opening price gives some indication of the market's perception of economic value.

A sale of the LFWK type has none of those elements, and the first sale will typically be well above any true economic value.

To you that may be a "hair"; to me its a huge difference.