'THE COMPANY'S AFFILIATE' HEY WHAT'S UP WITH THIS?
By: carmelbeach
10 Jan 2007, 03:05 PM EST
Msg. 11150 of 11150
(This msg. is a reply to 11148 by carmelbeach.)
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'THE COMPANY'S AFFILIATE'
HEY WHAT'S UP WITH THIS?
"the Company, the Company's affiliate Sulja Bros. Building Supplies Ltd. (Ontario)"
Doesn't "the Company" SLJB own "Sulja Bros. Building Supplies Ltd.
(Ontario)" in its entirety, LOCK, STOCK and BARREL? Wasn't there a, you know, whaddayacallit, oh yeah, a MERGER or complete takeover? Hadn't they become one and the same?
Some people have been saying for a long time that it was at least questionable, if not certain, that SLJB was an empty trading vehicle as there were no papers filed with Nevada - where SLJB is registered - showing any merger with anyone. Others have said it was preposterous to think such a blatant scam had been perpetrated. Sure some PRs were 'premature', some deals didn't quite really close, those Big4 accountants didn't quite actually get around to auditing, the Financials had translation problems and weren't right because, oops, brokering fees weren't supposed to be booked the same as gross contract amounts, not to mention various other 'misunderstandings'.
But now this language, parsed ever so carefully by the attorneys for many days. "THE COMPANY'S AFFILIATE"
And such a blow after all the time it took to heal the wounds from learning earlier that NOTHING OF LOFTWERKS' many and widely scattered projects and supposed Assets seems to have ended up in the SLJB Nevada entity (whatever it is).
It's kinda like you have been married for some time (ceremony seemed legal, a 'license' had been obtained somewhere, a guy with a white collar said some words) and one day people start referring to you as 'COMPANION' instead of wife. It's probably nothing, a mere stray legalism, boilerplate with no import, so please don't be concerned.
Or anyway, it's probably a Good Thing and a Buying Opportunity for your tomorrow sock; 'super-cheapies' and all.
The Ontario Securities Commission (OSC) has commenced an enforcement proceed [sic] against the Company, the Company's affiliate Sulja Bros. Building Supplies Ltd. (Ontario), the Company's former Chief Executive Officer Peter Vucicevich, Kore International Management Inc. (a company affiliated with Mr. Vucicevich) and Andrew DeVries (who was formerly associated with the Company).
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