Sulja Bros. Building Supplies, Ltd (SLJB)

[gwikley]

In the days after the merger when I got into this it all "seemed" straightforward: Canadian company reverse merges into a Detroit loft builder because "of it's wonderful potential and social concerns". Wonderful picture. And it went on.

The merging companies included backing of one of the countries 7 premier "Master builders". The reversing company was a 25 year old family business. The resulting merged company was to be invested in by an incredibly large ME builder to the tune of 25% on the open market. A 650 Million dollar cement deal was closed. Proformas from the reversing company showed incredible potential. The "export license" of the reversing company was deemed worth "it's weight in gold". A lumber company was being bought to handle the anticipated demand from the ME. The resulting company was to be audited by one of the "Big 5" audit firms. The OTCBB listing was imminent, the Nasdaq over the near horizon. Merged company to open high-end builders supply center(s) in the heart of the ME building boom. And over in Germany, there was this tire-recycling plant that loomed as an incredible income asset.

Pictures flowed of the Dubai towers, construction sites, lavish interiors, exotic highend buildings all posted on our little site. Incredibly tantalizing.

Oh, there was some discussion about the dual "identity"; the fact that the merger documents in Nevada were never completed, and that it was also called "Sulja Bros." And it was pointed out that it would be impossible to file with the SEC for OTCBB listing due to the nature of the proposed audit, etc. Those points were quickly dismissed as minor glitches, and the posters cast into the fires of bash-hell. I did some of the casting, through shear frustration of not being able to argue with such blatant facts.

Never thought it necessary to UNDERSTAND the corporate laws of Nevada. Never thought it necessary to UNDERSTAND the SEC rules that are (weak and filled with loopholes) designed to control the operations of a shell/blank check merger. NEVER thought that the DD of all of the pertinent information, (in the first paragraph of this note) could NOT be confirmed, was THAT important. Hell, I was hooked.

The companies never merged. The shell was ripped. The shares sold into the painted picture. History.

How in the hell do you "repair" the "misunderstandings" of all of those deeds? NOT.

Lesson learned: