Sulja Bros. Building Supplies, Ltd (SLJB)

[binzur]

In the 500M there were a bunch of restricted shares as well. That answers another question when everyone was thinking the float was like 38M! They have dumped the 162M restricted shares, the 120M insider shares, and sold another 100M to take the float to 600M! WOW!

From PR 8-22-06
"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.""