Sulja Bros. Building Supplies, Ltd (SLJB)

[binzur]

I misread the information in the Sam Sulja nominee account. I wish to set the record straight on The Mystic Garden entry. It is not a monthly payment to the account and this should explain it a bit better.

http://ratboyz.com/zup/Sam_saccountPart1.pdf

The "Portfolio Summary" is the market value and book value of the assets held in the account as of the last day of the month, in this case as of January 31, 2006. It is a one time value.

In this case it states that Sam Sulja owns "Mystic Garden Homes" securities worth $22,740.85 (see page 5 for a detailed description of the portfolio) with a coupon rate of 10% due May 29, 2015 as of JANUARY 31, 2006.

If you look again on page 4

There is a section called "Transactions During Period" which describes all flow of cash in and out of the account during the January 2006 period. As you can see there was no payment made or received anywhere near as large as $22,000.

What you can see, however is an interest "credit" or income of $189.51 for the month of January.

Take the amount of Mystic Garden Homes bonds you own, multiply by 10% per year and divide by 12 months and you get:

$22,740.85 x .10 = $2,274.09, then divide by 12 months to equal = $189.51 per month in interest income received for the asset in the portfolio.


Sorry for the mistake!
JMHO
Binzur