IMHO - - still looks good to me !!!
Posted December 31, 2006
First off, I would like to thank you for providing a forum for me to make a statement. Secondly, I would like to make it clear to all who read this that I am representing only myself, Kore International Management Inc, and any other Corporation that is in my control through my sole ownership. I asked for opportunity because I feel it important that people know my position matters concerning Sulja Brothers Building Supplies, Ltd., in light of recent events.
In past week we at Kore have received certain documents from the Ontario Securities Commission regarding our corporate involvement as well as my personal involvement with SLJB. These documents allege Manipulative Trading of Sulja Nevada Shares and, Misleading Disclosure, and Conduct Contrary to Ontario Securities Law and Contrary to the Public Interest by me and Kore. However unfortunate this may appear at this time, I truly invite the opportunity to prove these allegations inaccurate. In saying this I want to make it very clear that I do not disagree with the concerns that many people have in these matters. The staff of the OSC is simply doing what it is they are there to do and is to question any corporation which is being traded in Ontario if concerns arise regarding the conduct of people involved and/or the methods in which the shares are being promoted. This in no way is to be interpreted as the undisputed presumption of guilt of any party involved.
Since the time Kore was asked by Sulja to get involved and help expand the business, we have worked tirelessly together with the Sulja Management to reach the goals which we collectively have set. In a very short period of time, we have made great strides. The primary reason I was asked to join the team was for my ongoing business ventures in the Middle East and other regions around the world. We believed that together we could build Sulja into a proud and formidable force in the world of building supplies. We also felt that the time will soon be right to expand Sulja in the North American Market to compete in emerging markets first in the Mid-West Region, then along the I75 and 401 corridors. This plan has already begun with the purchase of Sam’s and research into other expansions or buyouts.
Progress in the Middle East has also been positive. Although some deals were lost, we continued to push forward making new deals possible. In this region, business is conducted at a far more personal level then what most of us in North America are accustom to. In other words, it took me three years of meetings, before I gained the trust of the people with whom I now do business, and still the relationships formed are not carved in stone. Most North American businesses I know have given up doing business in the region and have hired my firm to represent them fully understanding that there are no guarantees. However, we have been successful where others have failed and we brought our abilities into Sulja. It was believed then and still is now, that in a slow growing North American market, it would only benefit the Corporation by looking for lucrative business opportunities in one of the world’s fastest growing regions. I fully stand behind this decision and I stand behind what the Corporation has put out in press releases regarding these matters and will proudly present the commission with the appropriate documentation if asked to do so. I believe that this will put to rest the concerns of the shareholder regarding Middle Eastern matters. Any brokered deals now completed or being negotiated are being done by Sulja and not by an intermediary. I believe this to be a good thing and I am pleased at the decision we made in removing any third party involvement and again, I stand behind this decision.
In the matter listed where it is alleged that Kore or myself were in any way manipulating the markets through trades, I can simply say that this is in no way correct. In the same matter of stock manipulation were it is being alleged that I in some fashion was controlling the method in which others were trading, I can only say that this is inaccurate and untrue. These trades were done by others for the benefit of the Sulja Corporation and only the Sulja Corporation befitted from any Sulja shares which were directed into these accounts. The two accounts that were indirectly under my control in Ontario only received two million Sulja shares after the merger date. All two million shares have been converted into cert., and are being returned to the transfer agent as per my agreement with Sulja management. I feel it is also important to note, that the people who controlled these accounts never profited in any way, other then receiving their regular wages, for conducting these trades and performing their regular duties. No additional considerations were awarded to them for managing these accounts. As far as my ownership of Sulja shares is concerned; there has never been any. In other words, I have never owned, purchased, instructed any others to purchase on my behalf, or received a solitary Sulja share. This is simply a fact and anybody who claims otherwise is sadly misinformed.
Any compensation received by Kore by Sulja was predetermined prior to our mutually agreed involvement with Sulja. This deal includes payment for service and performance bonuses after our contract was fulfilled. This agreement clearly dictated our duties and Sulja expectations of Kore. This holds true with Sulja involvement with Andrew DeVries. To the best of my knowledge, Mr. Devries had fulfilled his obligations to Sulja in arranging the merger and preparing whatever documents required for this to occur. I understand, after speaking to many of the Sulja Shareholders, that they are uncomfortable with Mr. DeVries’ involvement. I also understand that he has been involved with this process from the beginning and that this fact was well known. Judging by how I am being portrayed by many of the Shareholders who know nothing about me, I am inclined not to put much merit in these judgments at this time. As far as I have been informed, all document, amendment, and processes has been completed correctly by Mr. DeVries and his forces. If for some reason fault is found in these processes, I am of the understanding that they can simply be corrected to reflect accurately any changes that may have occurred during this process. I know I never intentionally made any errors knowingly in this matter and till some actual proof is provided that Mr. DeVries has intentionally misled me, Sulja or the Shareholders, I will not pass judgment on him or any others involved. I apologize if this statement upsets anyone reading this, but after being wrongfully accused and judged for the past four months knowing I have willfully not done anything wrong, I tend to want to see proof of wrong doing before attacking anybodies character.
I would like to now comment on a touchy subject. This is the matter of the financial audits. It was my intention and still remains the intention of Steve Sulja to complete what we started. Perhaps I was premature in my thinking to attempt preparing these documents so close to the formation of the new Corporation. I attempted on numerous occasions to provide accurate figures to the auditors, however, after reviewing the findings, it was determined by all those involved that we would simply have to wait for the old Ontario Corporation to close out its books before we attempt any further audits. To remedy this, we have asked Spiegle & Associates Chartered Accountants aid Sulja in both providing an audited closing statement for the old corp. and an audited opening statement for the new corp. We felt this is the only way we would be able to complete this task accurately and quickly. We also felt by using the same firm to conduct both audits would alleviate the problems we had in the past. The same firm is dealing an affiliate firm of there’s in Chicago to prepare SLJB quarterly and yearly audits. It has always been our intention to provide this information and to become a fully reporting company. It was unfortunate that our first attempt failed. We are however taking steps to ensure this work be completed in proper fashion and in quick order.
Finally, I would like to reiterate my belief in the Sulja Corporation and its entire staff. I feel this is a good company with a great vision for the future. I believe that once things become clearer, the Shareholders of Sulja will enjoy a secure and fairly valued share. As time moves on, Sulja should continue enjoying steady growth income, profit, and international presence. Those who show patience will realize the rewards and I have to remind all involved that every company experiences growing pains and will most definitely make mistakes. Unfortunately, sometimes these mistakes affect the people who have shown faith in us.
The strength of company can be measured in many ways. Recognizing mistakes in the past and working to correct them no matter the consequence is how Steve and I would like Sulja to be remembered in the future. We will correct that which transpired in an unfavorable way. I believe that in the very near future SLJB will be a keeper and people will be proud having it in there portfolio.
Thank you and God bless,
Petar Vucicevich
Kore International Management Inc
AI
