Misleading Disclosure
12. Sulja Bros. issued press releases dated August 11, 2006 and August 23, 2006, in which each time it stated that it was negotiating with KPMG LLP (“KPMG”) and PriceWaterhouseCoopers (“PWC”) to handle all future SEC filings and reporting. The press releases further represented that those firms would be conducting an audit of certain transactions and that the audited financial were “upcoming”.
13. Sulja Bros. issued a press release dated September 5, 2006, stating that it has a contract for building materials in the Middle East which will produce annual revenues of $3.5 million.
14. The representations made in the press releases described above are untrue. Neither KPMG nor PWC have or have had any involvement with Sulja Bros. Furthermore, the contracts in the Middle East referred to in the press release dated September 5, 2006 do not exist.
15. Vucicevich and DeVries are responsible for Sulja’s improper disclosure and for the misrepresentations made in the press releases.
16. By issuing disclosure that contained statements that were in a material respect misleading or untrue, Sulja Bros., Vucicevich and De Vries are in breach of section 126.2 of the Act.
osc.gov.on.ca
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August 11, 2006
We are actively negotiating with KPMG International and Price Waterhouse Coopers to handle all future Security and Exchange Commission filings and reporting.
August 23, 2006
KPMG and Price Waterhouse Coopers will complete the audit and the assets are contained in the upcoming audited financials.
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Sulja Bros. Building Supplies, Ltd. Releases Asset Transfer Update
WINDSOR, ON -- (MARKET WIRE) -- August 11, 2006 -- Sulja Bros. Building Supplies, Ltd. (PINKSHEETS: SLJB) has received clearance from the Dubai Government to move the Sulja Bros. assets to the State of Nevada. Sulja Bros. attorneys have paid all creditors and liens on the assets being moved. The attorneys, working with the auditors, have produced the balance sheet, which was the last piece of information needed to complete the audit.
CEO Steve Sulja stated: "The process of moving the overseas assets was time consuming but has finally been completed. We can now have the audited financials completed shortly. The State of Nevada will receive the assets by next Friday. We are very pleased to inform our shareholders of the current transfer of assets.
We are actively negotiating with KPMG International and Price Waterhouse Coopers to handle all future Security and Exchange Commission filings and reporting.
Our shareholders will soon see why Sulja Bros. did not need to reverse split the stock to meet our up listing goals."
marketwire.com
Sulja Bros. Building Supplies Completes Asset Transfer
WINDSOR, ON -- (MARKET WIRE) -- August 23, 2006 -- Sulja Brothers Building Supplies, Ltd. (PINKSHEETS: SLJB) completed the asset transfer to the State of Nevada. Sulja Bros.' attorneys have paid all creditors and liens on the assets prior to the move. The balance sheet has been forwarded to auditor to complete our financials.
CEO Steve Sulja stated: "The State of Nevada has received the assets. The balance sheet has been sent to our auditor and we expect to have the audited financials completed in mid-September. We are pleased to update our shareholders of the asset and audit progress.
KPMG and Price Waterhouse Coopers will complete the audit and the assets are contained in the upcoming audited financials.
Our shareholders have requested an update through Marquee Asset Management and we are listening to the concerns. We continue to gain new work and have some exciting updates to be released."
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