It's actually very simple, and the bases of the ruse that was pulled on the share holders. There was a corporation that was registerd in Nevada that was called by basically the same name. (Part of the ruse). Inside of that corporation the shares from the old Loftwerks were supposed to be placed. As all of the assets that were attributed to those shares had been returned to Loftwerks, the shares were virtually worthless, and had a value of .0001. Well, we were all PR'd that the Canadian company , (the brick and mortar one), was going to "fund the stocks".....you know, put some money in the shell corporation and make the stocks worth something. We were also told, simultaneously, that the "Sulja Bros" stock was going to be bought on the open market by some ficticious organization named Wessal. To to tune of 25%....ON THE OPEN MARKET!!. Then, simultaneous to that we were PR'd that the "Sulja Bros" was going to get a 650 million dollar cement deal in the Mideast. Well.....on and on it went.
But you see, the problem was, there was never any funding of the shell in Nevada called "Sulja Bros". They promised to send some assets from the "middle east"....and infact we were told that they were "deposited". But.....we never saw them.
So....as it turned out, the shell company that was formed in Nevada, and was using virtually the same name......had all of these stocks.....that were virtually worthless. All this time the brick and mortar business in Canada just continued, (as it is today), to just putter along....like totally oblivious to what was going on in the little Nevada corporation that had the same name.
Eventually, as the shareholders pressed for some kind of financial disclosure, the folks who were running the whole show promised to produce the "AF's" ...the audited financials. This was mid last Novemember. The "AF's" never showed. The stock went to it's current level and all began to unravel.
Now, since the OSC has come into the picture, it has been revealed that while we were all believing that the shares that we were trading were Sulja Canada.....they infact were Sulja Nevada. There are NO STOCKS that belong to the business in Canada call Sulja Bros. The stocks that were and are traded here are from an entirely different, defunct sell corporation registered in Nevada, that (by design) has the same name.
Those shares, (from the worthless Nevada corporation), were taken out of the Nevada holding company and sold on the open market. They were sold into the hype that we were all buying into. They were worthless shares, that carried the same name as the Canadian brick and mortar business, but had nothing to do with them.
NOW...many months later....there are those here that forget that small fact. They insist that business is just fine in Canada. That the stock will recover as soon as the OSC finds that there was a "mistake" made by those that hyped and sold the Nevada stock. Well, you and those folks are entitled to believe whatever you/they choose. But FACTS, (as they always seem to me asking for), is facts: the stock that trades on the board is called SJLB and it is NOT from, nor does it represent ANYTHING remotely regarding the brick and mortar outfit in Canada.
The OSC has stated that there is an "affilliation" between the two entities. Yes, there is: It was individuals from the brick and mortar business that perpetrated the "double name" scam, raided the Nevada shares, distributed the stock to their cohorts, and reaped the gains from the sale. That IS, in infact an affiliation, and that is the extent of it.
The current market value of the defunct shell Nevada stocks represents solely the shareholders money. There is no intrinsinc value to the stocks. They were never funded.
End of story.
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