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Non-Tech : SLJB - Sulja Brothers Building Supply, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (423)	11/16/2006 1:41:39 PM
From: scion	Respond to of 1681

The only other occupant, Sam Sulja, a self-employed stock trader, said he didn't work for Kore but had occasional business dealings with Vucicevich. Posted by: KingsRansom In reply to: Art2Gecko who wrote msg# 7553 Date:3/3/2006 2:53:15 PM Post #of 168887 [...] I called the contact windsor phone# on the Sulja Bros website, a Sam Sulja confirms this merger on the pr. investorshub.com

To: StockDung who wrote (423)	11/16/2006 1:53:30 PM
From: scion	Read Replies (1) \| Respond to of 1681

So far, all investors have seen are Sulja's unaudited financial statements released in early October, which said that total revenues of US$65.5 million and pre-tax profits of US$28 million were made between June 1, 2005 and May 31, 2006. Another statement released at the time projected US$307 million in revenue for 2007 with a pre-tax profit of US$93.9 million. Vucicevich said the statements shouldn't have been released and he had ordered them taken off the company's website, although they could still be found there Wednesday. He would not say what accounting company did the audit, but said the accountant had returned to Cairo, Egypt. When The Star asked for an interview with Sulja's in-house accountant or chief financial officer for explanations of the previous financial statement and projections for 2007, Vucicevich said the company had neither. Asked about the board of directors that oversees the company, Vucicevich said there's only one board member left, a Windsor lawyer, Shahid Khan, who serves as president. Khan said he was hired to do the legal work on the incorporation of Sulja Building Materials Ltd. in Nevada. He said he knew little else about the business. Khan said he is serving as president of the board until other officers can be found. Vucicevich is the board secretary, he said. Vucicevich's comments about the unaudited financial statements trouble investors like Ken Rosenberg, who is in the mortgage business in New York City. He has 300,000 shares of Sulja stock, an investment of about US$25,000. "I don't want to lose that money," he said. Rosenberg is trying to decide whether to stay invested until the audited financial statement comes out or get out. He said he did his best to research Sulja but it's difficult when many of the deals mentioned were in the Middle East and details were vague. Vucicevich's other company, Sulja Building Materials, began more than two decades ago as a lumberyard and hardware store founded by John Sulja and carried on until recently by his children on the outskirts of Harrow. In the last eight months, the family business was merged into another U.S. penny stock company called Loftwerks and incorporated in Nevada under the Sulja name, state records show. It has an authorized 800 million shares, according to Nevada records. The stock trades on an over-the-counter market known in the business as "pink sheets." The stock price can be easily tracked over the Internet although it's not listed on an exchange. At least one Sulja family member works for the lumber business. Wally Sulja, who works for the company out of its Huron Church Road office, said his cousin Steve Sulja, a former CEO, "was bought out" earlier this year. Steve Sulja and John Sulja, who is retired, didn't return calls from The Star. © The Windsor Star 2006