Replies to post #40983 on Sulja Bros. Building Supplies, Ltd (SLJB)

[PinkZombie]

Asset: The total resources of a person or business, as cash or real estate. - Random House Dictionary.

So, Wessal resources, assets? Contracts? Hmmmmmmmm. I dunno.

Long and Strong. GLTA!

[benzdealeror2]

Posted by: allinone
In reply to: jimmym4 who wrote msg# 40702 Date:8/11/2006 4:34:46 PM
Post #of 40881

jimmy, what other asset would have the impact of Wessal wanting to buy 25% of the company? Do you think it is a drywall delivery truck? How about a flat bed lumber delivery truck? Do any of these need UAE approval for transfer when the assets are already in Canada? Why would be have the big names listed in todays press release if it was a truck or two? Logic is the thing most people are not using here! UAE Port Authority? We are going to go from .07 to over $4.00 for NASDAQ listing with a few trucks and a lumber shed???? Just a guess that we now own something big in UAE because the UAE authorized its transfer for book value for share structure valuation!


Posted by: YOUR FIRED
In reply to: allinone who wrote msg# 40722 Date:8/11/2006 4:48:15 PM
Post #of 40882

Maybe they own this ground?

Sulja Bros. Building Supplies Announces New Offices in the Middle East
WINDSOR, ON -- (MARKET WIRE) -- July 26, 2006 -- LoftWerks/Sulja (PINKSHEETS: LFWK) announced today that the company is opening 3 new offices in the Middle East. A Red Sea Group company spokesperson commented: "The 3 licenses for Sulja Bros. Building Supplies were obtained in the Middle East. Ground breaking commenced today in Abu Dhabi, Dubai in the United Arab Emirates and in Bahrain."



Posted by: allinone
In reply to: YOUR FIRED who wrote msg# 40743 Date:8/11/2006 4:55:21 PM
Post #of 40882

YOUR FIRED, you are good! See you can do your own DD if you just look outside the forest!! Nice Job!

[amil]

Maybe they meant monetary assets??

[Grande25]

Apparently, companies based out of Nevada are required to prove their stock certificates by providing the actual certificates to share holders upon request. This would validate share structure and boost investor confidence. Nevada is not the only state to be concerned about protecting businesses and investors from illegal market manipulation. Utah also has laws that protect businesses from having their business valuation raped on the open market. See: http://www.forbes.com/business/2006/07/28/naked-shorts-hedgefund-cx_lm_0728hedgefolo.html . Since the SEC isn't bearing their teeth, states are stepping up.

I googled "nevada stock certificate rules" or something like that and found some legislation. Here's a copy and paste from http://www.leg.state.nv.us/NRS/NRS-078.html#NRS078Sec235 (It sounds like companies in NV are required to provide certs (which is good) but then it also sounds like companies are authorized to issue "uncertified shares" and that gets a little conufusing to me):

NRS 78.235 Stock certificates: Validation; facsimile signatures; uncertificated shares and informational statements; replacement.

1. Except as otherwise provided in subsection 4, every stockholder is entitled to have a certificate, signed by officers or agents designated by the corporation for the purpose, certifying the number of shares owned by him in the corporation.

2. Whenever any certificate is countersigned or otherwise authenticated by a transfer agent or transfer clerk, and by a registrar, then a facsimile of the signatures of the officers or agents, the transfer agent or transfer clerk or the registrar of the corporation may be printed or lithographed upon the certificate in lieu of the actual signatures. If a corporation uses facsimile signatures of its officers and agents on its stock certificates, it cannot act as registrar of its own stock, but its transfer agent and registrar may be identical if the institution acting in those dual capacities countersigns or otherwise authenticates any stock certificates in both capacities.

3. If any officer or officers who have signed, or whose facsimile signature or signatures have been used on, any certificate or certificates for stock cease to be an officer or officers of the corporation, whether because of death, resignation or other reason, before the certificate or certificates have been delivered by the corporation, the certificate or certificates may nevertheless be adopted by the corporation and be issued and delivered as though the person or persons who signed the certificate or certificates, or whose facsimile signature or signatures have been used thereon, had not ceased to be an officer or officers of the corporation.

4. Unless otherwise provided in the articles of incorporation or bylaws, the board of directors may authorize the issuance of uncertificated shares of some or all of the shares of any or all of its classes or series. The issuance of uncertificated shares has no effect on existing certificates for shares until surrendered to the corporation, or on the respective rights and obligations of the stockholders. Unless otherwise provided by a specific statute, the rights and obligations of stockholders are identical whether or not their shares of stock are represented by certificates.

5. Within a reasonable time after the issuance or transfer of shares without certificates, the corporation shall send the stockholder a written statement containing the information required on the certificates pursuant to subsection 1. At least annually thereafter, the corporation shall provide to its stockholders of record, a written statement confirming the information contained in the informational statement previously sent pursuant to this subsection.

6. Unless otherwise provided in the articles of incorporation or bylaws, a corporation may issue a new certificate of stock or, if authorized by the board of directors pursuant to subsection 4, uncertificated shares in place of a certificate previously issued by it and alleged to have been lost, stolen or destroyed. A corporation may require an owner or legal representative of an owner of a lost, stolen or destroyed certificate to give the corporation a bond or other security sufficient to indemnify it against any claim that may be made against it for the alleged loss, theft or destruction of a certificate, or the issuance of a new certificate or uncertificated shares.