Replies to post #216429 on Sulja Bros. Building Supplies, Ltd (SLJB)

[cruzdelsur]

With those numbers the company is worth a whopping 0.03 per share!!!! This if they dont dilute anymore, which I suspect they will.


IMO

[nickulliana]

remember the PR back in LFWK days that said "dillution is the solution"?

[allspice]

The SEC and RCMP will step in eventually imho and shut this stock down. Shares, if we can believe Hog and Airys, acting in their capacity as the co's IR team, were sold into a market while the investing public was led to believe that the fundamental situation of the company was SIGNIFICANTLY different from the reality. The 350 million dollar cement deal and date certain PRs will come back to haunt this stock imho. This is an outrage! And these guys here at IHUB are defending this company. UNREAL!

[nickulliana]

Here it is binzur:

LoftWerks, Inc. Increases Authorized Shares: Anticipates Consultech Inc. Merger


NASHVILLE, TN -- (MARKET WIRE) -- February 06, 2006 -- LoftWerks, Inc. (OTC: LFWK) today announced that it was increasing its number of authorized shares by 300,000,000. A company spokesperson explained that this increased number of shares was necessary to insure adequate capitalization, prior to LoftWerks' planned merger with Consultech Construction Management, Inc. "We believe that this move will help to insure shareholder dollar value and facilitate our operations during the merger process," said LoftWerks CEO Dennis Ammerman. "Our future partners at Consultech have requested that we make this move in anticipation of the merger to provide continuity in our operations. I know that it is unorthodox in its application, but in this case, we feel that 'dilution is the solution' we need to attack this situation from both sides of the fence." Ammerman continued, "Our financials will be out prior to February 10, 2006. They will ensure our shareholders that an 'out-of-the-box' response to what would normally be a steady downward spiral to posting a shell for sale, is made and enacted by a company that is truly ready to climb out of boxes!"

Ammerman further explained that this authorization has been done in anticipation of a future reverse stock split, which will be announced well in advance and according to the best interests of all shareholders. Consultech Director-General Petar Vucicevich expressed his excitement regarding the upcoming merger. "We see a true opportunity to create something really special for all of our shareholders," he said. "This increased authorization will insure that everything will continue to run smoothly during the pendency of the merger process."

This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements maybe identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.

[grnich]

You're right, it is major fraud. And most people still don't realize it for what it is. Hope they go to jail for this.

[MarionPolk]

"Float" as defined by Dennis A. in the Loftwerks days was at most 57 million shares, or less than 0 shares if you believed the "short-seller captured capital" memo.

"Float" is now stated to be 600 million shares, so "insiders" (or the company) have sold between 543 million and 600 million shares (restricted and/or unregistered), presumably at prices averaging above 10 cents per share.

So the only people who had access to the "real" financial results got well over $50 million from people who believed their lies.

These would be the same "investors" now willing to apply a high P/E ratio to "pre-tax" earnings of a company whose earnings are down significantly on a year-to-year basis.

[nickulliana]

What happened between 8/22 and yesterday? What happened to the 162M restricted shares? TIA

August 22, 2006 - 11:48 AM EST
Sulja Bros. Building Supplies Releases Share Structure
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."

This contains forward-looking information within the meaning of The Private Securities Litigation Act of 1995. Forward-looking statements may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions: "may," "could," "should" or "might occur." Such forward-looking statements involve certain risks and uncertainties. The actual result may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or implied) will not be realized.