Sulja Bros. Building Supplies, Ltd (SLJB)

[TheFraudStopper]

July 5th and the Audit

With July 5th fast approaching and the audit supposedly almost complete, speculation is running rampant that Sulja's troubles are coming to a close.

The truth, in my not-so-very-humble opinion, is quite the opposite.

At the very least, the hearing on the 5th will be adjourned to a later date. Not because the OSC has a weak case and not because Sulja has shown that there was no wrongdoing, but because the OSC is putting the finishing touches on their case so that it is airtight. In the end, there will probably be a "settlement agreement". This agreement will likely included disgorgements, fines and other sanctions against Sulja and the wrongdoers. These agreements are standard procedure in Canada and are tantamount to a conviction.

Then there are the much-vaunted audited financials. I fail to see how anyone with even an average IQ can fail to see that the audit can do nothing but expose Sulja's past frauds unless it, like the previous announcements of revenues and earnings, is also fraudulent. Unlike some here, I do not think that Turner Stone will risk their already shaky position as a public company auditor by cooking the SLJB audit sufficiently that it would be in line with the previous PR's. This would be way to easy for regulators to expose.

IF the PR below above was not, in fact, fraudulent (which I am 100% sure it was) then Sulja would have been swimming in money and there would have been no need for all the nominee accounts, the dilution and the dumping - That is, of course, assuming that the monies raised by the dumping actually went into company coffer (which I highly doubt).

Sulja Bros. (SLJB) to Release Positive Financials

2006-07-31 14:35 ET - News Release

WINDSOR, ON -- (MARKET WIRE) -- 07/31/06

Sulja Bros. Construction Supplies, Ltd. (PINKSHEETS: SLJB) today announced that it will release pertinent and positive financial information to its shareholders. Year-end (fiscal) numbers will show revenues of $63M+ for 2005 and gross profits of approximately $28M+. The net profit for the year-end audit will surpass $15M. Monthly financials and a pro-forma will soon be available to the public at www.suljabros.com.