Sulja Bros. Building Supplies, Ltd (SLJB)

[binzur]

Hi Angela! According to the conference call there are no restricted shares. NONE! Now that sure looks like this was pumped up and then insiders/whoever that had their restricted shares sold them. There were also 300 M shares for the merger with Consultech which we now know was bogus, as well, as Consultech has been out of business and no longer a corporation in Michigan since the summer of 2005. So they sold 100 M shares of that "merger" stock as well. They also could have sold the remaining 200 M shares in the fall and bought them back to the treasury at these depressed prices.

Major dilution at a time when the reported financial condition of the company (unaudited financials) were totally false and no where near where they reported. They are now saying the business is doing 12-14.4 mil sales with approx 15% profit margin. Look at the unaudited financials they reported! This IMHO is major fraud!