quote:Originally posted by Wit: Hear ya Ace,....but why the shifting? Steve was sooo enthusiastic,....where did he go?
It has nothing to do with who would be a more "enthusiastic" CEO.
It has everything to do with who can get the the job done and the deals closed. And who can establish better business relations with the Middle East Contractors. And as the PR states, this is the right man for the job.
"Mr. Shahid Khan has been functioning as a bridge between our North American suppliers and Middle Eastern Contractors."
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Shahid Jamil Khan, after completing his law degree from the University of the Punjab, was called to the Bar in 1993. Before joining to Rana, Khan & Gajana, Mr. Khan was heading Commercial Law Company, a specialty law firm exclusively dealing in Corporate and Tax Laws. Mr. Khan is life Member of Lahore High Court Bar Association and Lahore Tax Bar Association and specializes in Tax, Banking, and Corporate matters.
Mr. Khan began his legal career with Dr. Khaild Ranjha, renowned Jurist and former Federal Minister for Law and Parliamentary Affairs Pakistan. He is now a consultant of Central Board of Revenue (“CBR”) providing legal consultancy on Tax Matters. He is also representing CBR in High Courts on Tax Litigation.
Bar Admission
Life Member Lahore Bar Association Life Member Lahore High Court Bar Association Life Member Tax Bar Association
Joined the Law Firm in 2004
Areas of Practice
Administrative Banking Business Law Commercial and Contract Commercial Litigation Finance Financial Litigation Financial Services International Trade Litigation Taxation
Career
Professional Experience
Mr. Khan is a practicing lawyer with an experience of 13 years of practice at Bar. Mr. Khan was elected as Finance Secretary of Lahore High Court Bar Association, Lahore in 2000-2001.
Affiliations
Mr. Khan is Visiting Professor of Law and Honorary Member Disciplinary Committee at Quaid-e-Azam Law College Lahore. He regularly delivers lectures on Taxation Laws.
Publications
Mr. Khan regularly writes on legal issues and his research papers are published in leading dailies and journals of the country.
posted
Academy of International & American Law, at University of Texas, nice!!!!! UT guy, gotta love it!!! His credentials are outstanding.
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posted
That's great, the guy is from the Middle East and has experience working there with corporate and Tax Laws. He also has experience representing CBR(Central Board of Revenue" in High Courts on Tax Litigation.
"Mr. Khan was heading Commercial Law Company, a specialty law firm exclusively dealing in Corporate and Tax Laws."
"Mr. Khan began his legal career with Dr. Khaild Ranjha, renowned Jurist and former Federal Minister for Law and Parliamentary Affairs Pakistan. He is now a consultant of Central Board of Revenue (“CBR”) providing legal consultancy on Tax Matters. He is also representing CBR in High Courts on Tax Litigation. "
It sounds like this guy knows his stuff.
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posted
This was posted on page 105 of this thread. I guess there is some truth here since the PR came out yesterday. Yes I did delete some of his opinions and left only what I thought was important to today. read page 105 for his full post.
quote:Originally posted by littlerichy: ...Yesterday evening, I LITTERALLY TALKED WITH JOHN SULJIA, formerly the owner of Suljia Bros. in Harrow Ontario, the location of Suljia Bros.!!! I also visited the site in Windsor Ontario, as well.
In Harrow Ontario, the home of Suljia Bros., where the "real business is located," (and where I was fortunate enough to talk briefly to John Suljia) is a whole other ball-park.
John had owned the business for over 18 years,(started it from scratch) and has been in the roofing/constuction business for most of his life. Although, I did not ask his age he looks ready for retirement, which he did "two to three weeks ago," when he "sold the business!" AND he still owns 5% of the stock! When I asked if that was of the original shares, or the now outstanding shares he said he could not comment. I also learned that he has four sons that also own 5% of the stock! I asked if they each owned 5% or if in total they owned 5%, he said (furtively) that he did not know and that his accountant would have all that information...
I commented on the projects in Dubai, as well as the growing need for lumber in the Middle-East to complete the undergoing projects -as well as the projects in Germany. He mentioned to me that "they also need cement." I then mentioned how very convienient is was for Wessal to buy a small Canadian co. to get necessary liscences for high quality building supplies from Canada. He smiled and noded, but made no verbal acknowledgement. I'm guessing again, he could manke no comments. Lastly, I asked him if he was going to hold on to his remaining shares for a while. To which he replied, that he "would see what would happen in the next year or so," adding that "nothing happens overnight." His sons, apparently, are "still part of the company," but he could not say what part they were playing.
IMHO: The Harrow site and the talk I had with John Suljia has re-affirmed my faith in this company. I'm under the impression that Core dumpped some money in his lap that he could not refuse for a very comfortable retirement. As well, the possibility that his son's will be the benifactors of greater financial rewards for all the hard work he put into his business over the years also, makes him happy.
posted
At THIS MOMENT, we really don't know much about our new, attorney, CEO. We DO KNOW:
1. Yesterday a CONTRACT, SIGNED, SEALED, AND DELIVERED for $350M in ANNUAL revs was PR'd;
2. Our new CEO comes bearing gifts of more contracts that are about to be PR'd: "With the new CEO on board, the contracts he was involved with will be announced."
3. As of 8/22/06, as per PR, the share structure remained unchanged: 800 million shares authorized with 500 million shares outstanding.
4. As of 8/9/06, a pro forma was released which stated as follows: "The pro forma estimated revenue is $307,007,451.50 and estimated net profits are $93,951,965.18." (That's a 30.6% NET...YES, NET profit margin).
5. The Cement distribution deal in the works on 8/11 wasn't even included in the pro forma, nor was the structural steel deal in the works included in the pro forma;
6. 9/5/06 the company PRs a $350M signed and sealed contract, which is in addition to the $307M pro forma rev estimates which NOW makes the estimated annual revs $657M. At a 30.6% NET profit margin, that's $201M in net profits divided by 500M O/S = $0.402 per share WITH NO MULTIPLIER!!!! Only $350M contracted for sure right now X 30.6% net profit= $107,100,000 divided by 500M O/S= $0.2142 per share. WTH are we doing trading at $0.08 per share? IT'S RIDICULOUS!!!
At least the new CEO is of middle eastern descent. Nobody better to deal with middle easterners than another middle easterner. He's bringing some contracts with him that he's negotiated, and he may have negotiated the $350M cement contract. Personally, I think all the shots are still going to be called from further up the ladder and this may just be another interim position as we go through the evolution. Does it matter? He's an attorney, and not some idiot they just pulled off the street, plus he's bringing contracts with him to be announced (per PR), possibly another $307M PLUS. Nobody said he's permanent, and nobody has proven that he shouldn't be. I'm still VERY COMFORTABLE in this position. I still see nothing but an upside in the future. The numbers speak for themselves. JMO
quote:Originally posted by invester: I think it was an obligatory move. If the majority of the business is done in the Middle East "where they speak Arabic" it makes all the sense in the world to have an Arabic speaking CEO. Obviously Steve will still hold chairman status. I've been thinking the whole time about how the communication lines were being achieved. This is great news.
Who of you called over there to try and verify the cement??????????????????? He said he only received 3 calls!!!!!! 1 from me 1 from Mo-ryder and someone else.. Even though this fellow spoke english it is still hard to decipher everything he thought..Its not the same English... LOL so A C.E.O. that speaks Arabic is major prop to the company. Get over it.!!!!
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quote:Originally posted by HossTrader: Lots of new posters telling us how great everything is. That usually means a really good run coming, followed by the dumping of shares. IMO
quote:Originally posted by invester: I think it was an obligatory move. If the majority of the business is done in the Middle East "where they speak Arabic" it makes all the sense in the world to have an Arabic speaking CEO. Obviously Steve will still hold chairman status. I've been thinking the whole time about how the communication lines were being achieved. This is great news.
Who of you called over there to try and verify the cement??????????????????? He said he only received 3 calls!!!!!! 1 from me 1 from Mo-ryder and someone else.. Even though this fellow spoke english it is still hard to decipher everything he thought..Its not the same English... LOL so A C.E.O. that speaks Arabic is major prop to the company. Get over it.!!!!
Invester this was not directed toward you . I was emphasizing your point!
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posted
For language barriers, you hire translators. You don't hand over the whole company. The suppliers are in Eastern Europe, does he speak Hungarian?
The majority of the execs in Dubai speak english just fine. They should, most went to college in the US or the UK.
-------------------- I just want to make enough money to be eccentric.
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quote:Originally posted by HossTrader: For language barriers, you hire translators. You don't hand over the whole company. The suppliers are in Eastern Europe, does he speak Hungarian?
The majority of the execs in Dubai speak english just fine. They should, most went to college in the US or the UK.
No comparison to first hand. Translators alienate people. This is the best move the company has made yet!
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Hey Hoss here is a test for you.... call this number.. It is a direct line to Hazem of Ramada contracting in Abu-Dhabi. Lets see if you can comprehand all of his english!! 011-971-50-443-1215.. Come on do it now!
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Shahid Jamil Khan, after completing his law degree from the University of the Punjab, was called to the Bar in 1993. Before joining to Rana, Khan & Gajana, Mr. Khan was heading Commercial Law Company, a specialty law firm exclusively dealing in Corporate and Tax Laws. Mr. Khan is life Member of Lahore High Court Bar Association and Lahore Tax Bar Association and specializes in Tax, Banking, and Corporate matters.
Mr. Khan began his legal career with Dr. Khaild Ranjha, renowned Jurist and former Federal Minister for Law and Parliamentary Affairs Pakistan. He is now a consultant of Central Board of Revenue (“CBR”) providing legal consultancy on Tax Matters. He is also representing CBR in High Courts on Tax Litigation.
Bar Admission
Life Member Lahore Bar Association Life Member Lahore High Court Bar Association Life Member Tax Bar Association
Joined the Law Firm in 2004
Areas of Practice
Administrative Banking Business Law Commercial and Contract Commercial Litigation Finance Financial Litigation Financial Services International Trade Litigation Taxation
Career
Professional Experience
Mr. Khan is a practicing lawyer with an experience of 13 years of practice at Bar. Mr. Khan was elected as Finance Secretary of Lahore High Court Bar Association, Lahore in 2000-2001.
Affiliations
Mr. Khan is Visiting Professor of Law and Honorary Member Disciplinary Committee at Quaid-e-Azam Law College Lahore. He regularly delivers lectures on Taxation Laws.
Publications
Mr. Khan regularly writes on legal issues and his research papers are published in leading dailies and journals of the country.
posted
Ok,....everyone who was jumping up & down today. You figure this one out. This stock is making my head spin.
This new CEO doesn't even know Steve Sulja??? But many here are insisting that Steve is still involved,...how could this guy not even know him... Oh,..and about those new shares....hmmmm,..anyone smell a 504 yet....I said to look out for this several weeks ago....if I wasn't so frustrated with this stock, I would go back & find it. I'm not saying this is fact or even happening, but we need to be careful of this.
By: jantinna 06 Sep 2006, 07:18 PM EDT Msg. 49403 of 49416 Jump to msg. # From Ihub,
Has anyone talked the Khan in the yellow pages? I just got off the phone with him and he confused the heck out of me. He stated he was the new CEO of Sulja Corp, not Sulja Brothers and this was a new entity and shares haven't been put out in the market yet?????? He claimed he would be dealing with building supplies overseas, couldn't tell me jack about Steven Sulja or Petar. What a crazy conversation that was, he is convinced he is the new CEO, call him he answered the phone 519-253-7500.
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posted
By: jantinna 06 Sep 2006, 07:20 PM EDT Msg. 49405 of 49416 Jump to msg. # Also on IHUB
Just spoke to Shahid Khan. He said he is the CEO of Sulja Corp., totally different. ?? When I asked if there was any connection and he said he is not able to discuss the subject. He wasn't even aware that Steve Sulja has announced his appointment and it is on internet.
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quote:Originally posted by HossTrader: For language barriers, you hire translators. You don't hand over the whole company. The suppliers are in Eastern Europe, does he speak Hungarian?
The majority of the execs in Dubai speak english just fine. They should, most went to college in the US or the UK.
No comparison to first hand. Translators alienate people. This is the best move the company has made yet!
Please. I lived in Saudi Arabia for a long time and don't speak a lick of Arabic. So which oil companies have CEO's that are Arab? There are a lot of cars sold over there too, maybe the new guy at Ford is Arabic. No wait a second, Boeing. Look at all the jets bought by Gulf Air and Saudia. Their CEO must speak arabic.
Give me a break.
-------------------- I just want to make enough money to be eccentric.
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quote:Originally posted by a surfer: Hey Hoss here is a test for you.... call this number.. It is a direct line to Hazem of Ramada contracting in Abu-Dhabi. Lets see if you can comprehand all of his english!! 011-971-50-443-1215.. Come on do it now!
What does that prove? what if we call the supplier in Eastern Europe too. Do you speaka dat one?
-------------------- I just want to make enough money to be eccentric.
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posted
How about this one in bold below. Unfortunately, I do not know enough about this one to either dispute/prove it yet. I will look into it more, but it's midnight here on the East Coast,..and I will be signing off for the night in a bit. If any of you would like to add some insight, that would be great. No guessing please, I can do that myself, or look more into this tomorrow.
I repeat, I was TOLD THIS,...do not start writing me as if I said this, I know nothing of it, just passing it on:
This pr is proof that there will be no audited financials. A new officer must stand for election at the company's annual stockholders meeting to meet SEC requirements & pass an audit. They also need to hold an annual stockholders meeting to pass an SEC audit. There must be a proxy regardless of the annual shareholders meeting for stockholders who can't attend. This is what they must do to pass an SEC audit.
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quote:Originally posted by Wit: How about this one in bold below. Unfortunately, I do not know enough about this one to either dispute/prove it yet. I will look into it more, but it's midnight here on the East Coast,..and I will be signing off for the night in a bit. If any of you would like to add some insight, that would be great. No guessing please, I can do that myself, or look more into this tomorrow.
I repeat, I was TOLD THIS,...do not start writing me as if I said this, I know nothing of it, just passing it on:
This pr is proof that there will be no audited financials. A new officer must stand for election at the company's annual stockholders meeting to meet SEC requirements & pass an audit. They also need to hold an annual stockholders meeting to pass an SEC audit. There must be a proxy regardless of the annual shareholders meeting for stockholders who can't attend. This is what they must do to pass an SEC audit.
Uh oh, I hope this isn't true, where did you find this?
-------------------- Disclaimer: Not accountable for anything I say
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quote:Originally posted by Wit: How about this one in bold below. Unfortunately, I do not know enough about this one to either dispute/prove it yet. I will look into it more, but it's midnight here on the East Coast,..and I will be signing off for the night in a bit. If any of you would like to add some insight, that would be great. No guessing please, I can do that myself, or look more into this tomorrow.
I repeat, I was TOLD THIS,...do not start writing me as if I said this, I know nothing of it, just passing it on:
This pr is proof that there will be no audited financials. A new officer must stand for election at the company's annual stockholders meeting to meet SEC requirements & pass an audit. They also need to hold an annual stockholders meeting to pass an SEC audit. There must be a proxy regardless of the annual shareholders meeting for stockholders who can't attend. This is what they must do to pass an SEC audit.
How about a link? As I asked before why are you posting something you haven't bothered to verify? THis is now becoming a pattern and very distressing. Last time you challenged me I posted a link. Even though you disagreed with the post I still gave you the source. I never got a cource from you the first time so I hope you can do better this time. If not please don't use the don't kill the messenger line again. It tends to get old.
posted
That doesn't seem to be true. It seems like there is no time restriction for the CEO to certify an audit.
Found this, nothing about time limits that I could find in SOX:
Question 13: A CEO resigned after the end of the quarter but before the filing of the upcoming Form 10-Q. The company appointed a new CEO prior to the filing. Who signs the certification?
Answer: The new CEO because he or she is the principal executive officer at the time of the filing.
Question 14: A company has a CEO who is resigning at the end of the year and is no longer performing the function of CEO although he is still employed with the company. In the interim, the company has another individual that is performing the functions of CEO. Can that other individual sign the certification despite the fact that the company still has another person with the CEO title?
Answer: The person performing the function of CEO at the time of the filing should provide the certification. If it is not the person with the title of CEO, the company should disclose in the filing that the other individual is performing that function.
quote:Originally posted by Wit: How about this one in bold below. Unfortunately, I do not know enough about this one to either dispute/prove it yet. I will look into it more, but it's midnight here on the East Coast,..and I will be signing off for the night in a bit. If any of you would like to add some insight, that would be great. No guessing please, I can do that myself, or look more into this tomorrow.
I repeat, I was TOLD THIS,...do not start writing me as if I said this, I know nothing of it, just passing it on:
This pr is proof that there will be no audited financials. A new officer must stand for election at the company's annual stockholders meeting to meet SEC requirements & pass an audit. They also need to hold an annual stockholders meeting to pass an SEC audit. There must be a proxy regardless of the annual shareholders meeting for stockholders who can't attend. This is what they must do to pass an SEC audit.
Let me see here, as I understand it this is supposed to be the order of events:
1st - Audited Financials 2nd - Uplist to OTCBB 3rd - Apply for AMEX or NASDAQ uplisting
Now the only timeline that we are told is the process is supposed to start with the audited Fin's around mid-Sept. The rest is said to happen 'in time', that is, as the normal application process progresses. So, how is this supposed to prevent the audited Fin's from being released? If there is another one needed later for AMEX or NASDAQ uplisting, who knows what time that will be at?
But then again, I don't know anything about these processes.
quote:Originally posted by Wit: How about this one in bold below. Unfortunately, I do not know enough about this one to either dispute/prove it yet. I will look into it more, but it's midnight here on the East Coast,..and I will be signing off for the night in a bit. If any of you would like to add some insight, that would be great. No guessing please, I can do that myself, or look more into this tomorrow.
I repeat, I was TOLD THIS,...do not start writing me as if I said this, I know nothing of it, just passing it on:
This pr is proof that there will be no audited financials. A new officer must stand for election at the company's annual stockholders meeting to meet SEC requirements & pass an audit. They also need to hold an annual stockholders meeting to pass an SEC audit. There must be a proxy regardless of the annual shareholders meeting for stockholders who can't attend. This is what they must do to pass an SEC audit.
How about a link? As I asked before why are you posting something you haven't bothered to verify? THis is now becoming a pattern and very distressing. Last time you challenged me I posted a link. Even though you disagreed with the post I still gave you the source. I never got a cource from you the first time so I hope you can do better this time. If not please don't use the don't kill the messenger line again. It tends to get old.
GLTA Wally
Whatever Wally,..I really don't have time this early morning to address this right now, I'm just quickly checking in, I'll respond to this later on today,...and BTW,..your last response neither denied or verified what I asked of you. If you truly read what I wrote, you would have seen the part where I said that I would be looking into this today, as I did not know if it was factual. Spend more time finding out what I add to this thread instead of trying to discredit me, that's what's really getting old. If it's not pumping here, you guys aren't happy.
Get ready to possibly go down with the ship captain.
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posted
I am beginning to think that this is another case of a good company being taken over by a foreign group and the stockholders left out to dry. Steve got a big payday, his sons are taken care of and another good company lost to foreign buyers. I hope not but it seem to be playing out that way. Steve had big plans but the green won out. IMHO we need some good data from the new CEO to calm the water......
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You really don't want me to post my actual link ,..where I got that from,...I had to edit out a few choice words as I am a holder of this stock & really didn't want to post all the other negative things it said. Newbies would run far away if I did, and I want this to go up like everyone else here. That's why my other two posts above had links, and I left the link to that one out. I can PM it to you later, but will not post it here.
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They have taken the old company “Sulja Bros Building Supplies Ltd” and are going to combine all of its new subsidiaries and acquisitions and are going to merge them into one all encompassing company “Sulja Bros Corp”. Since they are redefining the company from a limited partnership to a corporation this may allow them to change their share structure. Keep in mind that they still need the $4.00 PPS bid price to list on the NASDAQ. Due to all of the changes to the company they may be required by law to change the company from an LTD to a Corp.
The question remains how does this change affect the current stock and the O/S?
Will we be issued new shares under the new company name? Will they reverse merge this stock into the new company stock? If they reverse merge will it be one for one?
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