Sulja Bros. Building Supplies, Ltd (SLJB)

[eliaman]

per steve sulja "Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."

Wonder what steve was seeing when they were pulling the NOBO LIST? Insiders control a major amount of shares, what % of the float is closely held?

SLJB releases share structure...

WINDSOR, ON, Aug 22, 2006 (MARKET WIRE via COMTEX) -- Sulja Brothers Building Supplies, Ltd. (PINKSHEETS: SLJB) announced today that the company is releasing the current share structure to the investing public. Sulja Bros. currently has 800 million shares authorized with 500 million shares outstanding. All share counts have been rounded to the nearest million.

CEO Steve Sulja stated: "The current outstanding shares are 500 million. There are 362 million shares held by insiders. Of the 362 million insider shares, 162 million are restricted. There are 138 million shares in the public float. The number of inside owners, of 10% of common class shares, decreased after the reverse merger. The increase of outstanding shares from 200 million to 500 million excluded holders of 20 to 50 million shares from insider status. Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."