Replies to post #58173 on Sulja Bros. Building Supplies, Ltd (SLJB)

[boogaloo]

Kapone, Maybe, as someone else said, it was a more liquid form of asset (cash, or similar?). I have no clue. If UAE liquid assets were transferred, in order for inclusion on a balance sheet, then I would agree it wouldn't show up on the SOS.

And rrufff has clarified that asset transfers of any kind aren't within the domain of the SOS.

Just can't figure out why the CEO would make a point of mentioning the state in that PR. Maybe that's where the company checking account is. lol

[rrufff]

See my prior post. I answered that question. A corporation is a legal fiction, an entity authorized by the sovereign, the state, etc. They have rules that you have to follow. But those rules deal with structure, not business plan or assets.

If the company does business in the state or is principally domiciled there, then there are tax issues and the revenue or tax department gets involved.

It's the same if you do a deal. You set up a corporation. You don't disclose your assets or where you got them. Then you file your tax returns but NOT with the Secretary of State.

[Tuslog28]

Kapone: I've wondered the same thing. Possibly Consultech is based in Nevada or another business entity in the chain. I can't imagine any hard asset they would physically place in Nevada. ???