Replies to post #189850 on Sulja Bros. Building Supplies, Ltd (SLJB)

[domain311]

I don't like it, but it sounds very possible...and if it takes a month or two to recover, and get this back on track somewhat, I would be extremely happy with that at this point.

[jranalyst]

That fits with what he said about an "empty shell" with "five companies involved" and "all of that nothing". It also fits with the theory that he wanted to have the auditors put the five companies together in an audit with sljb, but the auditors would not combine them unless they were actually part of the company sljb. He then told a poster he was "completing a lot of paperwork" and didnt have time to talk with us. He was aware enough that he said he "did not want to spend Xmas like Martha". I think the empty shell will cause a LOT of trouble for them if does not have most of the assets PRd placed in it. Makes sense to have your lawyers review all the paperwork and make everything proper. Once the empty shell has the assets, it should not take long for the auditors to combine the numbers. imo. jr.
If Kore and Consultech are no longer part of it, we may no longer have five companies. I hope the PR saying they have all the certs for the company and most of the shares being traded are shorts is correct, but I am not holding my breath.
I do not like being part of this shell game but am still holding since it was oversold b/o panic selling, and may still have a big short position. Sure took a bite out of my Turkey.

[nickulliana]

I also think that PETAR posted the unaudited AFs. He never changed the name of the company either,

In the end, if he could get away with stealing from the company and just leaving enough in there to make it "real". He could walk off.

Steve and the Sulja name get the blame.

oooops! Petar, you got caught!!!!

IMO, I will add this:

"Petar, next time get a real attorney and not depend on Andrew for advice. He is not your friend."

[boogaloo]

jannie, Good post. em

[tafsnd]

I totally agree that most likely the assets were not being put in the SLJB name. And that is why they were never signed. Which leads me to my next concern? In general the decisions of which company was going to own the assets was that the responsibility of the entire board of directors or was that the responsibility of the CEO?

And was Steve on the board while Petar was CEO?

In general isn’t SLJB being held liable anyway for not producing the A/F or is it Petar? I believe that there is lawsuits.

[grnich]

The unaudited numbers looked bogus to me. Look at how many expenses are rounded to the nearest thousand. I've never seen that many even numbers on an actual income statement before. Looks like a few real looking numbers and a bunch of estimates.