posted
This is like being in elementary school.. and staying up all night because it's supposed to snow.. and sitting there at 130AM.. still no snow.. hoping that it will start soon so school will be cancelled....
posted
Well, it is blaringly obvious to me that I made a mistake adding at .092 right before close today.
I am out tommorrow as all of you should be unless EDGAR shows audited financials are released and I doubt very, very seriously that will happen.
Just my very honest opinion. SLJB game is over for me, lucky for me I got in at the .02ish range.
There is no real CEO in the world that would be posting on a freakin **** this time in the morning and publicly stating that he is giving his lawyers 4 hours to review everything. Absolutely ludicrous.
Just my very honest opinion.
Posts: 539 | From: BIG D | Registered: Apr 2005
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quote: Please be advised that the financials which were promised on November 15 2006 will be posted shortly. We have experience a slight unforeseeable delay. This delay will be address by 4am EST and the financials will be posted at that time or shortly after. A new CEO statement will be posted early on November 16 2006 explaining the delay and matters concerning the financials. It is our intention to post this statement prior to posting the financials. We sincerely apologize if this has caused any problems to our shareholders; it is clearly not our intention to do so. Thank you all for your patience, understanding, and continued support. Petar Vucicevich
quote:Originally posted by utvolsfan13: The B. L. O. G. is now GONE
the Q&A forum is still there. still nothing else new on the web site except for the statement above. AND i'm wondering which time zone the 4am he was using for the ceo statement. not to mention the talk about this being shell companies.
Wonder if this will save the pps. My guess is YES! nothing better than speculamentation on the pinks.
Good luck ya'll. I can say i don't plan on getting in. there are other directors involved here besides petar that allowed this to happen. maybe they are on the beach eh?
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Gary Rennie, Windsor Star Published: Thursday, November 16, 2006
The flamboyant CEO of a Harrow lumberyard who has promoted hundred of millions of dollars worth of investments around the world -- including a $20-million commercial development in Colchester -- is facing scrutiny from the RCMP.
Petar Vucicevich, of Sulja Brothers Building Supply Ltd. said he was questioned last week by the RCMP about the stock of his company, which is currently one of the most hotly traded penny stocks in North America.
"I have nothing to hide," Vucicevich -- nicknamed "Black Pete" for his penchant for black clothing -- said in a telephone interview earlier this week. "They just want to make sure everything is as it's supposed to be."
Vucicevich said the officers who questioned him told him it was a routine investigation because the price of the stock had shot up from zero early this year to around 12 cents a share in recent trading.
Investors were looking anxiously Wednesday for audited statements that would reflect the company's many news releases that had noted deals in the works such as US$100 million or more in cement sales, lumber mill purchases and a US$650-million hotel project in the United Arab Emirates, among others.
Trading in the stock has created an enormous buzz on Internet chat forums.
Hundreds of thousands of messages are flying around daily as investors rejoice or curse with each upward and downward movement in the stock's price. About 21 million shares were traded Wednesday, but the price dipped to nine cents a share when the audited statements were not released.
On some days as many as 30 million shares or more are traded, and the price per share has been as high as 21 cents. Many who bought for pennies a share, dream of a jump to $4 or more a share.
Vucicevich drives a black Range Rover, but his several corporate roles and talk of multimillion dollar deals seem out of character with the tiny second-floor offices and no secretary or any other visible staff at the Pelissier Street headquarters of Kore International, where he is director. One room was still being renovated, some furniture was tipped over.
Vucicevich, who is also director of another company called Consultech, wasn't there. 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.
In late September, Vucicevich announced that Kore International had plans for a $20-million commercial development in Colchester that would include a $1-million Kronk gym and stores, shops and bed and breakfast accommodations. He later said a cheese factory and a factory that manufactures wooden spindles would be added to the project.
Vucicevich said earlier this week that the RCMP officers who questioned him -- Sgt. Darrell Nay and Cpl. Gordon Aristotle -- said they were part of a joint intelligence unit that works with the Ontario Securities Commission. Reached Wednesday in Toronto, Nay had no comment.
Vucicevich said he told the officers he had no objection if they sent the results of the interview to the U.S. Securities and Exchange Commission (OSC) since Sulja Brothers is incorporated in Nevada.
OSC spokeswoman Laurie Gillett and SEC spokesman John Heine both declined to comment.
"Our policy is not to discuss matters that are before the commission," said Gillett.
Canada set up Integrated Market Enforcement Teams in 2002 to investigate commercial crime which includes members of the RCMP, Investment Dealers Association of Canada, OSC, Revenue Canada, and Justice Canada. RCMP Supt. Don Panchuk, who heads up one Toronto-based market enforcement team, couldn't be reached Wednesday.
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.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
So who is the bald guy on their web site with CEO Statment written next to it? Is that one of the Sulja's.
Posts: 482 | From: NJ | Registered: Apr 2006
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so much for my earlier comment about there being other directors.
TOASTIES
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
been awake cince 4 but didn't think to scan canada news. Good job! Glad I freekin sold out. NO MORE canadian stock for me.... EVER and as far as Navada Inc. companies go.... BLEEEEEEWWWWWAAAAHHHHH!
Okay... that's out of my system.
Cheers
think it's safe to say this will be back on the micro eh?
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Posted by: Stock H.O.G. In reply to: None Date:11/16/2006 8:09:27 AM Post #of 166325
Latest Update: Just woke up, looked, then called Petar. He advised that the lawyers are working to refute the Windsor Stars' article, as most of it is not accurate and misleading. I asked him if they are going to post the AFs, etc prior to the open of the market. He said yes, they are trying to get it all out now, including a counter to the Star. The lawyers were talking to the Star this morning already. I asked him if all of the companies were packaged into one consolidated AF. He said yes, income statement, balance sheet, etc were all in one. I told him we would all be waiting. He said you will see everything shortly.
You asked me to call, so I did. I have no idea what will happen here, so don't flip out on me if it doesn't work out. Make your own decisions and not based on me.
Thanks! Bring em Petar!!!!!
P.S. reason for 4 a.m. delay was due to the Windsor Star's article.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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delayed again because of a news article? gimmi a break
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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