Replies to post #250549 on Sulja Bros. Building Supplies, Ltd (SLJB)

[EarnestDD]

Foreign currency translactions issues are easily resolved. Accountants have guidelines for doing the translations.
Any currency in the world can be converted by applying the guidelines.
If you have an oil & gas company ... then you have some cross-border differences in Generally Accepted Accounting Principles (GAAP) which have to be taken into account and explained.
But ... this is just a building products supplier. The contracts either exist and legal title for goods passed before the balance sheet date or they didnt.
imo

[scorpio70]

Simple to me, there is NO translation issues. Furthermore, using someone from the Middle East to do the accounting for a US corp seems quite odd.

You ever try to translate Arabic.

btw...they have a new CFO...PM me for details

[Ragz]

It may not have been just monies that were transfered into Sulja Nevada, But asset's. And I know what everyone is thinking, WHAT ASSETS? Dont Know, But what I do know is that SULJA NV CANNOT OPERATE ANYWHERE ELSE IN THE STATES< ESPECIALLY IF REAL ESTATE IS INVOLVED. We still do not know what asset's were transfered from overseas. Were they Bearer stocks? AKA SHORT CAPTURED CAPITAL, or whatever thr freaking name was. For all we know, SULJA NV, has bearer Share's, not commited to anyone, but can be transferred, to anyone. Dosent do an off shore hedge fund any good. Dosent do the insiders anygood cause of gift tax reasons. But the bearer share's may be distributed/ transfered to certain Individuals, Stockholder?
Who would of couse have to pay Taxes on shares, Dividends, again taxes would have to be paid. All I know is that SULJA NV, cannot hide behind the Nevada Corporaton rules. Federal government prohibit's this type of action. Could be why the SEC has not done any thing? DID SULJA PLAY BY THE RULES? They must have played by the VERY STRICT NEVADA RULES!!!

Then again, this is only an opinion.

Ragz