Replies to post #280747 on Sulja Bros. Building Supplies, Ltd (SLJB)

[Disinterested One]

Do you continue to believe every PR SLJB published last year? I mean the PRs claiming hundreds of millions of dollars in revenue, tens of millions of dollars in profits and completed deals in the Middle East?

[cdp232]

Very nice post. I agree with all you toughts, time will tell
thanks again!

[DownWithPumpers]

So is this your scenario redSkies?

1) Sulja was heavily in debt and losing money, so they decided to go public.
2) They PRd huge profits and massive overseas deal.
4) After those PRs they sold 100s of millions of shares to pay off their debt.
4) They'll have to pay a fine for illegally issuing shares to sell through nominee accounts.
5) They've decided to close their main operations in Ontario and move them to Alberta.
6) Their main headquarters will remain in Ontario.
7) Sulja has a vision and a plan.

[boogaloo]

red, You're forgetting one dynamic. Even IF their initial goal was to pay off debts via share dumping... that does NOT excuse the false financials or outrageous press releases. Or does it? You seem to think that's Ok? It means money is falsely sucked out of honest joe public, so that they can pay their debts????

Pumping the public full of BS in order to inflate share price so that debts can be paid, if that's what was done... is just as BAD a thing to do as any other reason for pumping and dumping.

Key Point: Remember the PR claiming they were ALREADY earning enough PROFITS to to list on the NAZ?? Well, if that were true... I HIGHLY doubt they'd have closed Harrow, nor would they have HAD THAT DEBT IN THE FIRST PLACE!! How the hell do so many of you overlook that simple logic? A company earning millions in NET PROFITS would NOT need to dump millions and millions of shares to pay off debt! They would USE THE PROFITS TO PAY OFF DEBTS. So, which is it... they lied about their profits, or they lied about dumping shares to pay off debt? Choose one. They used both reasons, according to many of you. Is one of those things correct? (1 - massive profits, or 2 - in debt, had to dump shares to pay it down)

Clear the cobwebs.

[EarnestDD]

I believe that Sept. 7, like July 5 before it, will be another delay. Except that this time I expect them to meet and to decide on a date for the actual Hearing which could easily take one to two weeks. In which case, look for a Hearing in October or November.

The allegations here are serious. I also believe that if not ALL of the money was spent on Sulja business that this will cause further allegations of misuse of funds.
But how Sulja spent illegally raised funds is somewhat irrelevant to the fact that the Company sold potentially unregistered shares at a time when it denied that it was doing so, to the detriment of its shareholders.
Red, without Sulja diluting and selling shares, SLJB may well have been at much higher levels than $0.21. Even those shareholders that sold at higher levels should be upset because they could well have divested at even higher levels if not for Sulja's illegal acts.
Manipulative management of selling shares by insiders is another very serious offense and is usually called insider trading. Martha Stewart went to jail for this offense if you recall. As did the CEO of IMclone (?).

Sulja's actions were not laudable. they were despicable.

I also see no vision with this company. Lies, lies and more lies in PR's. Still no audited financials either.
I see no plan.
Calgary remains unopened.
Harrow is shut down.
Sam's appears to be withering.
The retail store keeps poor hours.
I see no management here.

All my opinions only.

[bald iggle]

Uh, redskies, what part of selling unregistered shares and price manipulation don't you get?

[12ring]

Great Post Red, I agree 100% and think you are dead-on correct. JMHO GLTALongs

[rookeeper]

sulja clearly made some procedural mistakes

LOL