I think Airys has a very high Gullibility Quotient.
...according to Airys, that's a GOOD thing!
Posted by: janniebgood
In reply to: Airys418 who wrote msg# 238247 Date:1/8/2007 2:04:44 PM
Post #of 238338
So then are you saying that the attorneys asked for a two-month delay and continuation of the trading halt in Ontario so that they can make sure they have their ducks in a row before returning for another hearing? I just want to make sure I'm understanding what you're stating because I thought from what you related to us that Petar had told you, it sounded clear that they had all the evidence they needed to refute the OSC charges today. Maybe I misunderstood.
Thanks for clarifying!
investorshub.com
Devries was not represented at the hearing today - I wonder why?
4. Andrew DeVries (“DeVries”) and Vucicevich have a business relationship with Sulja Nevada and DeVries assisted Vucicevich with share distributions of Sulja Nevada;
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
- AND -
IN THE MATTER OF
SULJA BROS. BUILDING SUPPLIES, LTD. (NEVADA),
SULJA BROS. BUILDING SUPPLIES LTD.,
KORE INTERNATIONAL MANAGEMENT INC.,
PETER VUCICEVICH AND ANDREW DeVRIES
TEMPORARY ORDER
Sections 127(1) and 127(5)
WHEREAS it appears to the Ontario Securities Commission (the “Commission”) that:
1. Sulja Bros. Building Supplies, Ltd. (Nevada) (“Sulja Nevada”) is a Nevada Corporation and its common shares are listed on the Pink Sheets electronic quotation and trading system for OTC securities (the “Pink Sheets”);
2. Sulja Nevada’s principal asset is its interest in Sulja Bros. Building Supplies Ltd., an Ontario Corporation (“Sulja Ontario”);
3. Kore International Management (“Kore”) is an Ontario Corporation controlled by Petar Vucicevich (“Vucicevich”) that has a relationship with Sulja Nevada and Sulja Ontario;
4. Andrew DeVries (“DeVries”) and Vucicevich have a business relationship with Sulja Nevada and DeVries assisted Vucicevich with share distributions of Sulja Nevada;
5. Trading in shares of Sulja Nevada is being directed by Vucicevich and DeVries in nominee brokerage accounts in Ontario;
6. A prospectus receipt has not been issued for the Sulja Nevada securities, contrary to section 53 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”);
7. Sulja Nevada, Vucicevich and DeVries may have participated in trades of common shares of Sulja Nevada resulting in a misleading appearance of trading activity and an artificial price level for the shares, contrary to Ontario securities law;
8. In or around August 2006, at the direction of Vucicevich and/or DeVries, Sulja Nevada issued press releases that contained misleading or untrue material statements in respect of Sulja Nevada’s relationship with PWC and KPMG, contrary to Ontario securities law; and
9. Staff are conducting an investigation into the trading of the securities of Sulja Nevada.
AND WHEREAS the Commission is of the opinion that the time required to conclude a hearing could be prejudicial to the public interest as set out in s. 127(5) of the Act;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS ORDERED that, pursuant to clause 2 of ss. 127(1) and ss. 127(5) of the Act, trading in the securities of Sulja Nevada cease;
IT IS FURTHER ORDERED that pursuant to clause 3 of ss. 127(1) of the Act, any exemptions contained in Ontario securities law do not apply to the Respondents ; and
IT IS FURTHER ORDERED that pursuant to ss. 127(6) of the Act, this Order shall take effect immediately and shall expire on the 15 th day after its making unless extended by Order of the Commission.
DATED at Toronto this 22 nd day of December, 2006. |
