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Non-Tech : SLJB - Sulja Brothers Building Supply, Inc.
SLJB 0.000001000-90.0%Jun 4 9:43 AM EST
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To: Star the Wonder Pup who wrote (856)11/30/2006 9:43:17 AM
From: rrufff   of 1681
 
I'm going back from memory but I believe that most of Dennis' problems were discussed on the old LFWK boards on RB and IHub and they were typical of any real estate developer. If any of you know r/e developers then you know that they can be worth millions one day and, with the leverage they play, be broke the next day and then back again. Read Trump's books.

This is interesting but not a surprise. As is typical in our pink sheet market, we know less perhaps but have more questions. Was there an indemnity agreement by which Dennis has to pay SLJB for any judgment? This would be typical in many acquisition type or merger deals. What is Dennis' financial situation? If he escaped with money, then that money might be traced or found and used to make SLJB whole for any loss. As part of the purchase price, SLJB may have assumed the risk instead of giving Dennis shares or cash. We just don't know the answers and why it is so important that we get full disclosure starting w/ the AF's. But, again, that's reflected in the price IMO.

In pinky land, it's foolish to take a number in a lawsuit and compare it to market cap in my opinion. Who knows what the loss will be after the equity is sold or whether or not there is 3d party claims for reimbursement.

Again, just my own speculation, and that's why I don't buy, sell or poop based on message board chatter. It all reflects uncertainty and that uncertainty is reflected in the share price.
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