Replies to post #46252 on Sulja Bros. Building Supplies, Ltd (SLJB)

[locustsuc]

Sounds like its our land and hotel to me.

[bobrainey300]

hold on there mister, where is that PR you promised? ;)

[greenspirit]

Good point, I would also add, I believe the 300 million is there in order to protect SLJB from someone gaining a controlling interest in the company.

[SPIN]

when was that 300M issued?

"...this is why the 300 million restricted shares were issued to CCMI!"

[chiphldr]

No CCM is Consultech Construction Mgnt....The BIG umbrella...Now the division that's suppose to go into our public vehicle is Consultech Construction Mgnt Mid West Division...Completely different..

No bad intended were just talking like friends

[toddao]

alot more than me lol keep up the good work I see why you are or were an ceo

thankx todd

[sawtrader]

allinone, hats off to you, you know more, much more about this than the rest. Genious at work, or that you just happen to know all the right details.......you got everyone to think too much with your recent posts, but...... good ploy is all I can say.

[Skylanders]

Still tops on this board!!!! It's amazing how things change when the stock is down??? Too funny..Everyone will have a group hug when the stock rises..LOL

[joelotto]

Why are so many people here on allinone's nuts!!!! He makes it sound as if Sulja or CCMI can some how turn a financed(liability) uncompleted project into some major mulit-million dollar asset. I will be the first to say that I don't have a degree in accounting or a degree at all but how is it possible to have assets in a major project when the project is financed and that would be a liability that offsets the assets.....unless the project current value is worth more than the money invested.

Also, don't you think its insulting when he pretty much says this is the deal and if you don't understand me...ask someone with an accounting degree. Why not post what you know or think...even if its wrong.

[redwards]

2x that when the hotel is sold.

[oreodiamonds]

Allinone The only book entry at the moment is

Dr Land $29 million
Cr Long Term Financing $29 million

The financing for the construction of $645mm is just a line of credit. As construction starts, assets will be debited and financing credited.

At the completion of the project, the asset will be sold and a profit recognized.

Example
CR Construction Sales $750mm
Dr Sales Receivable $750mm

Final entry would be:

Dr Cash $750mm
Cr Sales Recivable $750mm
Dr Land Financing $29mm
Dr Construction Financing $645mm
Cr Land $29mm
Cr Construction Asset $645mm
Dr Interest Expense $30mm
Cr Interest Payable $30mm
Dr Interest Payable $30mm
Cr Cash $30mm

In this example the sale would be $750 mm
Land $ 29mm
Construction Cost $645mm
Financial Cost $ 30mm
Total Costs $704 mm
Net Profit before tax $ 46 mm

[Churak]

I'm wondering if Wessal's 25% COULD be out of the 300 mil restricted that were issued to pay for the land. In other words, I'm wondering if Wessal made a deal to buy the shares comprising 25% equity of SLJB from CCMI despite the PR saying that the shares would be bought in the open market...just a thought...

[SPIN]

Chu - read the message to which i've replied.