I've been victimized by an operation like was mentioned. They had an audit from hell that kept being delayed; they had several different auditors come in do some work then either quit or become replaced by some new auditors. Eventually it came down to the CEO was selling a bunch of shares out the back door. Based on what the share count should've been the stock was a screaming buy, but it was all bogus. I have been a little suspicious of SLJB but I still bought a small portion. I promptly lost 50 % in a few days, but doubled down on Friday. When I saw that Price Waterhouse was involved I instantly changed my mind. But Penny's are always risky. I can only see two outcomes with SLJB -- either it's one of the most elaborate scams I've seen or it's going to 2 dollars in the next year. I don't believe there is any middle ground on this one. And if the audit is released and the financials are close to the unaudited versions then it's a no brainer. Just enjoy the rollercoaster ride but stay until you get to the unloading station. Good luck to all. I'm betting on some MM manipulation so I put in another order for some at .057.
Posts: 16 | From: Peoria | Registered: Jul 2006
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Very exciting info that price waterhouse is involved in the audit. Its only a matter of time before we see the results we have been waiting for. Im holdin strong now, not worth the risk of trying to flip
Posts: 596 | From: Kansas City | Registered: Jul 2006
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Any guesses on what the CEO is reffering to when he said, "Our shareholders will soon see why Sulja Bros. did not need to reverse split the stock to meet our up listing goals."
Could it be a merger or a Major Contract.
Posts: 2321 | Registered: Aug 2006
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quote:Originally posted by Ace of Spades: Any guesses on what the CEO is reffering to when he said, "Our shareholders will soon see why Sulja Bros. did not need to reverse split the stock to meet our up listing goals."
Could it be a merger or a Major Contract.
He is referring to the worth/value of the company.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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yeah, hes saying that we will soon see that the shareprice can reach the nasdaq level without doing a reverse split
Posts: 596 | From: Kansas City | Registered: Jul 2006
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Yeah understand that, I meant what do think will cause the PPS to increas like the CEO said. The CEO is hinting that some great,unexpected news is comming. I was just wondering what your guess is as to what that news could be, that would raise the PPS so much.
Posts: 2321 | Registered: Aug 2006
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A 10K (audited by one of the majors) submitted to the SEC with the share structure after Wessal has purchased 25% of the company will be like releasing nos in a Corvette Z06. Brokers will have to cover shares they don't have. Inconceivable buying pressure will emerge. It will be the perfect storm imo - the short squeeze, fully audited financial reporting, solid historical earnings and rapid projected growth next year with the contracts to back it all happening at the same time. Mooohaahah(hands wringing, glancing upward).
Posts: 287 | Registered: Mar 2005
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Ok I am a newbie, I don't write much I am trying to read and learn before I open my big mouth. I have been watching this thread and others including the LFWK thread. I have a HUGE position in this company. I have done some DD of my own and have weighed heavily on some of you who have been around awhile. The thing that is starting to get to me, has anyone talked or visited the company in anyway recently? I ask this not just for myself but all of us who are in this stock. It does seem there have been a ton of buys but the pps do not reflect that. I know I will here the Wessal theory but this is a theory no one actually knows this right? From what I can gather this seems to be a dream come true. But let's take a step back and get some actual verification this is legit. If you have the answer I/we need to hear open up. We all can profit from this if we work together. Facts only please. I think we have all established the hypothetical conclusion.
Posts: 12 | From: Seattle | Registered: Mar 2006
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Posted by: allinone In reply to: bobrainey300 who wrote msg# 42005 Date:8/13/2006 7:07:50 PM Post #of 42028
Nope, I am happy with my past record! NO need to be accussed of being a pumper! My past history speaks for itself! Thank you anyways and I do mean it when I say I think you really mean well and all I can tell you right now is being the right position at the right time, if you know what I mean!
posted
Posted by: allinone In reply to: sandbath who wrote msg# 42021 Date:8/13/2006 7:10:49 PM Post #of 42034
sand, even you will see what the future says this week! Remember to mark this post and lets discuss it next week after the financials are out!~ Deal?
Posts: 83 | Registered: Mar 2006
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posted
Ok I am a newbie, I don't write much I am trying to read and learn before I open my big mouth. I have been watching this thread and others including the LFWK thread. I have a HUGE position in this company. I have done some DD of my own and have weighed heavily on some of you who have been around awhile. The thing that is starting to get to me, has anyone talked or visited the company in anyway recently? I ask this not just for myself but all of us who are in this stock. It does seem there have been a ton of buys but the pps do not reflect that. I know I will here the Wessal theory but this is a theory no one actually knows this right? From what I can gather this seems to be a dream come true. But let's take a step back and get some actual verification this is legit. If you have the answer I/we need to hear open up. We all can profit from this if we work together. Facts only please. I think we have all established the hypothetical conclusion.
Posts: 12 | From: Seattle | Registered: Mar 2006
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quote:Originally posted by Schaefga: Ok I am a newbie, I don't write much I am trying to read and learn before I open my big mouth. I have been watching this thread and others including the LFWK thread. I have a HUGE position in this company. I have done some DD of my own and have weighed heavily on some of you who have been around awhile. The thing that is starting to get to me, has anyone talked or visited the company in anyway recently? I ask this not just for myself but all of us who are in this stock. It does seem there have been a ton of buys but the pps do not reflect that. I know I will here the Wessal theory but this is a theory no one actually knows this right? From what I can gather this seems to be a dream come true. But let's take a step back and get some actual verification this is legit. If you have the answer I/we need to hear open up. We all can profit from this if we work together. Facts only please. I think we have all established the hypothetical conclusion.
I called Thursday and Friday. I spoke to the secretary, but she transferred me to a guy who's name was Sam. It was his voice mail. I left him a message and will see if he calls back. I will continue to call next week. I'm very persistent! -Cassity
posted
Thanks, cassity I am going to try as well come Monday. Just a little reassurance can go a long way if you know what I mean. Goodluck!
Posts: 12 | From: Seattle | Registered: Mar 2006
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Who is this allinone person that many keep reposting his quotes over here from IHUB and what clout do they have that everyone seems to be following the words of this poster?
[ August 13, 2006, 19:53: Message edited by: Wit ]
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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allinone does not calim to be a insider, however, he has been 100% right on all the DD that he has posted..he/she does not just post outlandish stuff, he/she post info requarding the company, all he backs its up w.DD (most the time) and the times he does not, that follwing day/week we see what he/she was speaking abt...i would not buy or sell on anyones opinion, but other DD is always welcome...
-------------------- Dont take my advice, due your own DD Posts: 711 | From: Oklahoma | Registered: Apr 2006
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I was curious,...I have seen his re-posts on more than this board and all are positive, nothing negative to report, and he/she seems to have a large following of believers.
I wasn't sure if there was another reason as to why many seem to be clinging to his/her posts as gold.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
i would not be comfy if i bought or sold stock on another persons "post on a messageboard" however his/her info has panned out and its very very accurate...so we shall all see in due time what will happen..GLTA
-------------------- Dont take my advice, due your own DD Posts: 711 | From: Oklahoma | Registered: Apr 2006
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posted
The reason I post Allinone's posts is because he has been right so far. He only posts a couple of times each day and is straight to the point. People need to do their own DD. I like his posts and until he is proven wrong, I will continue to believe him. GLTA -Cassity
posted
I missed out on the .05's last week but will have funds available Monday or Tuesday so hopefully another dip will occur before the next run up.
I already have a very nice size position here so am very excited to see how this plays out.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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I don't post much because I am a newbie.....and if I say the wrong thing I don't want to be bashed..... I really can't read charts yet and don't understand much about filings that companies do. I am learning with each step that I take. I got in with FHAL at .12 and now SLJB at .08 & .06.
I do, do some research before I invest in anything but there are a few people that I value the opinion of, and you are one of them.
I know you have done your DD and I think you have done your DD for each stock you post about.
God knows not enough people here give you the respect you deserve.
I want to be the first to thank you first hand for your posts and hard work.
Posts: 46 | From: PA | Registered: Jun 2006
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I think next week will help clear up a lot of our questions, one way or the other. I expect to see audited financials within the next two weeks and if I don't I will have to reevaluate my view of SLJB. So far the company has been quick to follow through, and the only thing negative I've seen is some of the OPINIONS of those on allstocks and Ihub. GLTY nu2this and everyone and please do your homework and make decision based on fact not rumor. -Cassity
The firm was created by the merger of two large firms Price Waterhouse and Coopers & Lybrand. These two firms each had histories dating back to the nineteenth century.
Samuel Price, an accountant, started his practice in London in 1849. In 1865 Price went into partnership with William Holyland and Edwin Waterhouse. Holyland left shortly after and the firm was known from 1874 as Price, Waterhouse & Co. (The '& Co' and comma were dropped from the name much later.) The original partnership agreement, signed by Price, Holyland and Waterhouse can be found in Southwark Towers, one of PwC's offices in London. By the late nineteenth century, Price Waterhouse had gained significant recognition as an accounting firm. As a result of trade between the United Kingdom and the United States of America, Price Waterhouse opened an office in New York in 1890, and the American firm itself soon expanded rapidly. The original British firm also opened more offices in the main countries in the British Empire, each time establishing a separate partnership in each country that gave each partner a strong incentive to expand their local practices. The worldwide practice of PW was therefore a federation of collaborating firms that had grown organically rather than being the result of an international merger.
Like PW, Coopers & Lybrand had also originated in the nineteenth century. In 1854 William Cooper established his own practice in London, which became Cooper Brothers seven years later when his three brothers joined. In the USA in 1898 Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr. and his brother T. Edward Ross formed Lybrand, Ross Brothers and Montgomery. Coopers & Lybrand is the result of a merger in 1957 between Cooper Brothers & Co; Lybrand, Ross Bros & Montgomery and a Canadian firm McDonald, Currie and Co. In 1990 Coopers & Lybrand merged with Deloitte Haskins & Sells in the United Kingdom, but most other parts of Deloittes merged with Touche Ross to form Deloitte Touche Tohmatsu.
In addition to setting up an office in the major capital cities of the world, the PW or Coopers firm in each country often assimilated local accounting practices. This provided even more offices in the regions of each country and so resulted in 'critical mass', allowing the rapidly increasing number of international corporations to be fully serviced wherever they traded. Growth was also spurred by increasing audit requirements, especially after the Great Depression in the 1920s and 1930s, and by the increasing complexity of taxation.
In a further effort to take advantage of economies of scale, PW and Arthur Andersen had discussed a merger in 1989 but the negotiations failed mainly because of conflicts of interest such as Andersen's strong commercial links with IBM and PW's audit of IBM. In 1998 Price Waterhouse and Coopers & Lybrand merged to form PricewaterhouseCoopers in an attempt to gain a scale that would put the new firm in a different league. The following year merger discussions between PwC and Grant Thornton failed. Because of the reduced number of major firms, it is unlikely that further mergers would be allowed by competition authorities.
The 2002 indictment of Enron and WorldCom and the subsequent collapse of Arthur Andersen resulted in stringent U.S. Securities and Exchange Commission rules on auditor independence. One such result was the adoption of the Sarbanes-Oxley Act, which required auditor independence and separation of core audit from general consulting. This forced many of the Big Four to divest their interests in management consulting. However a major part of the firm's practice is still to provide business advice in addition to its auditing services, notably in taxation and corporate finance.
[edit] Structure and Service Lines
PricewaterhouseCoopers offices at Darling Park Tower 2 in Sydney, Australia.The legal structure of a partnership is very different to that of a company, and as such the global firm is in fact a collection of member firms, that are run autonomously in their respective jurisdictions. The senior partners of member firms sit on a global board of partners and there is also an 'umbrella' organisation called PricewaterhouseCoopers International Limited, a UK -based company which provides co-ordination. The current global CEO is Samuel DiPiazza, a 52 year old partner of the former Coopers & Lybrand.
PricewaterhouseCoopers has up to six service lines in major countries:
Audit and Assurance, Tax, (planning and compliance with local tax laws, transfer pricing) Advisory and Consulting which covers Performance Improvement,Transactions and M&A and Crisis Management in a range of specialist areas such as accountancy and actuarial advisory. PwC's service lines face the market in each country by broad industry specializations such as:
Consumer and Industrial Products and Service (CIPS) Financial Services (FS), Energy, Utilities and Mining, Technology, Information, Communications and Entertainment (TICE). These sub-divisions may vary slightly in some territories.
The firm also has in-house human resource services and legal services (through its correspondent global legal firm, PwC Legal). PwC audits 37 per cent of companies in the FTSE 100 Index; 22 per cent of those in the FT Asia Pacific 100 and 43 per cent of the Fortune 1000.
[edit] Clientele Europe and North America account for about 82% of PwC's annual revenue, with Europe alone accounting for 45%. The firm's dominant practice is Audit & Assurance, which accounts for over 50% of PwC's revenue.
As of March 2005, PricewaterhouseCoopers' audit clients included four of the 10 largest public companies in the United States (ExxonMobil, Ford Motor Company, ChevronTexaco and IBM). PwC also audits four of the 10 largest companies in the United Kingdom (GlaxoSmithKline, Royal Dutch Shell, Barclays and Lloyds TSB).
PwC's other large clients include American International Group, Freddie Mac, Bank of America, JP Morgan Chase, Goldman Sachs, Tesco, Unilever, and the Academy of Motion Picture Arts and Sciences, the last to tabulate votes for the annual Academy Awards.
PwC also has the unique distinction of having been (in various incarnations) the tabulator and certifier of votes for the Academy Awards since 1934.
PwC audits 43% of Fortune 1000 companies.
PwC Japan On May 15, 2006 PwC announced that it will create a new audit firm in Japan after its Japanese affiliate, Chuo Aoyama, was ordered to halt auditing services for two months by the Japanese Financial Services Agency. The regulator specifically cited Chuo Aoyama's audit of cosmetics company Kanebo Ltd., in which three of the firm's partners allegedly assisted with accounting fraud and boosted earnings for the company by about $1.9 billion over the course of five years.
A permanent new and independent audit firm will be created in Japan, with PwC also maintaining a partnership with Chuo Aoyama for local client work.
The global firm has acted quickly to stem any possible client attrition as a result of the scandal. Shortly after the suspension was announced, Sam DiPiazza, the Global CEO, issued a statement to the firm's most senior partners outlining the steps the firm would take. Part of the response includes dispatching a team of the most senior global partners to Japan, including the former engagement leader from the Unilever audit in the UK, to manage the relationship with a number of key Japanese clients such as Toyota and SONY. There is significant concern that the Firm's reputation will be harmed amongst its 2,300 Japanese clients, particularly after Shiseido announced the signing of an audit agreement with KPMG.
Academia PwC sponsors the PwC Honors Program at the Binghamton University School of Management. This distinguished membership is offered to the top 10% of students in the business and accounting programs. Binghamton University, part of the SUNY System, is ranked the number one public university in the Northeast United States. Incidentally, they are the second largest feeder of employees into PricewaterhouseCoopers.
[edit] Staff Because its major asset is the expertise of its personnel, the firm has a competitive recruiting program. PricewaterhouseCoopers is one of the top 10 companies for working mothers in 2004 according to Working Mother Media. PricewaterhouseCoopers was also recently included in Fortune magazine's "100 Best Companies to Work For" list, coming it at number 71 in 2006. According to statistics compiled by the firm from third party sources, PwC ranks in as the number 1 employer of choice among the Big 4 in student recruiting surveys from 12 countries including China, Germany, United Kingdom and the United States [3].
Not all its staff can (nor want to) become partners in the firm, and so many leave after gaining experience. Consequently PwC is effectively a large training organisation for accountants and its alumni can be found all over the world.
[edit] Consulting activities
Screenshot of the PwC Consulting webpage indicating the IBM mergerThough the firm's core business is audit, it had created a large professional consulting branch, as did other major accountancy firms, generating about 35% of its fees. Management Consulting Services (MCS) was the fastest growing and often most profitable area of the practice, though it was cyclical. The major cause for growth in the Nineties was the implementation of complex integrated ERP systems such as SAP R/3 for multi-national companies.
However PwC came under increasing pressure to avoid conflicts of interests by not providing consulting services to its audit clients. Since it audited a large proportion of the world's largest companies, this was beginning to limit its potential market. These conflicts were going to increase when additional services such as the outsourcing of ERP systems were offered. For these reasons, in 2000, Ernst & Young was the first of the Big Four to sell its consulting services, to Capgemini.
PwC therefore planned to capitalize on MCS's rapid growth through its sale to Hewlett Packard (for a reported $17 billion) but negotiations broke down in 2000. PwC announced in May 2002 that its consulting activities would be spun off as an independent entity. An outside consultancy, Wolf Olins, was hired to create a brand image for the new entity, called "Monday". According to a June 2002 BBC news article, the firm's CEO, Greg Brenneman described the unusual name as "a real word, concise, recognisable, global and the right fit for a company that works hard to deliver results." These plans were soon revised, however. In October 2002 PricewaterhouseCoopers sold the consultancy business to IBM for approximately $3.9 billion in cash and stock.
Today, PwC brands its remaining consulting activities as Advisory Services, directed globally by Alec Jones in PwC London. Advisory services are organized by country and by industry sector. PwC also has developed several broader consulting initiatives in the Enterprise Risk Management (ERM) framework, including a global effort to assist corporations with outsourcing, as well as a global political risk assessment and risk management service with the political risk advisory firm Eurasia Group.
Advisory services offered by PwC also include two actuarial consultancy departments; "Actuarial and Insurance Management Solutions" (AIMS) and a sub branch of "Human Resource Services" (HRS). Actuarial covers mainly 4 areas: pensions, life insurance, non-life insurance and investments. AIMS deals with life and non-life insurance and investments while HRS deals mainly with pensions. The actuarial functions supplied by PwC include advice to the PwC accountants on insurance company financial reporting, advising buyers and targets on (mainly insurance ) M&A's and financial modelling.
PwC serves the U.S. federal government through their Washington Federal Practice (WFP). PwC has over 2000 professionals based in the Washington Metro Corridor. WFP’s mission is to become the U.S. Federal Government’s preferred provider of advisory and assurance services. PwC WFP helps government agencies solve complex business issues, manage risk and add value to performance through their comprehensive service offerings in financial management, program management, operations improvement, and security and data management.
KPMG
K stands for Klynveld. This originates from the accounting firm Klynveld Kraayenhof & Co. founded by Piet Klynveld in Amsterdam in 1917. P is for Peat, originating from the accounting firm William Barclay Peat & Co., which was founded by William Barclay Peat in London in 1870. M stands for Marwick. James Marwick founded the accounting firm Marwick, Mitchell & Co. together with Roger Mitchell in New York City in 1897. G is for Goerdeler. Dr. Reinhard Goerdeler was for many years chairman of the German Deutsche Treuhand-Gesellschaft (DTG) and later chairman of KPMG. He is credited with laying much of the groundwork for the KMG merger. [edit] History In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. merged to form what would later be known as Peat Marwick International (PMI). The Peat Marwick logo.In 1979, Klynveld merged with Deutsche Treuhand-Gesellschaft (DTG) and McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG). In 1987 both firms joined forces in the first mega-merger of large accounting firms and formed KPMG. In 1997, KPMG and Ernst & Young announced that they were to merge, in a maneuver largely seen as a spoiling tactic over the merger of Price Waterhouse and Coopers & Lybrand. However that merger, to form PricewaterhouseCoopers, was granted regulatory approval and the KPMG/Ernst & Young tie-up was later abandoned. In 2001, KPMG divested its US consulting firm through an IPO of KPMG Consulting Inc, which is now called BearingPoint, Inc.. A song that was produced for KPMG, Our Vision of Global Strategy, experienced a brief period of Internet notoriety. In 2002, the UK and Dutch Consulting arms were sold to Atos Origin. In 2003, KPMG divested itself of its legal arm, Klegal. In 2005, KPMG LLP admitted criminal wrongdoing in multi-billion dollar tax shelter fraud.
The KPMG logo used by member firms in the 1990s[edit] Legal Structure and Executives Each national KPMG firm is an independent legal entity and is a member of KPMG International, a Swiss Verein headquartered in the Netherlands.
KPMG International is led by:
Michael D.V. Rake, Chairman, Senior Partner of KPMG in the United Kingdom; Michael P. Wareing, CEO, Partner of KPMG in the United Kingdom; Dominic C.F. Ho and John B. Harrison, Chairman-Asia Pacific Region, Partner of KPMG in China and Hong Kong; Timothy P. Flynn, Chairman-Americas Region, Chairman of KPMG in the United States; Ben van der Veer, Chairman-Europe, Middle East and Africa Region, Chairman of KPMG in the Netherlands. [edit] Audit Clients KPMG member firms serve as the Independent Auditors for a large number of major corporations:
Retail & Consumer Products: The Home Depot, PepsiCo, J.C. Penney, Nestlé, The Hershey Company, Yum! Brands, Supervalu, General Mills, CVS Pharmacy, Carlsberg, ConAgra Foods, Burger King, Jack in the Box, Diageo, Heineken, Federated Department Stores, Winn-Dixie, Publix Super Markets, Hasbro, R.J. Reynolds Tobacco, Levi Strauss & Co. Travel and Transportation: US Airways, Air France-KLM (joint auditors with Deloitte), Cathay Pacific, Norfolk Southern Railway, easyJet, Amtrak Technology: Apple Computer, CA Inc., EDS, LG, Samsung, Motorola, Philips, Siemens, Electronic Arts, Dolby Laboratories, CNET Networks, Electronic Data Systems Media: NBC Universal, Sony BMG, Bertelsmann, RH Donnelley, BBC, ITV Telecoms: Qwest, SprintNextel, Embarq, CenturyTel, Citizens Communications, PCCW, China Mobile, Cable & Wireless Energy: Citgo, Murphy Oil, Valero, Occidental Petroleum, Reliant Energy, Halliburton, Sinopec Industrial Products: General Electric, DaimlerChrysler, Honda, BMW, Matsu****a Electric Industrial Co., Mitsubishi Electric, Weyerhaeuser, Siemens AG, Cemex, Navistar International, BMHC Financial Services: Citigroup, Wells Fargo, Wachovia, HSBC, H&R Block, Standard Chartered Bank, ING Group, Deutsche Bank, Allianz, Munich Re, Credit Suisse, Nationwide Financial, Countrywide Financial, Visa International, Salomon Brothers, Hang Seng Bank, First Republic Bank, MassMutual Financial Group Consulting: Accenture Mining: BHP Billiton Healthcare: Kaiser Foundation [edit] Tax shelter fraud Main article: KPMG tax shelter fraud In early 2005, the United States member firm, KPMG LLP, was accused by the United States Department of Justice of fraud in marketing abusive tax shelters. Under an agreement, KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes and agreed to pay $456 million in penalties in exchange for a deferred prosecution agreement. KPMG LLP will not face criminal prosecution as long as it complies with the terms of its agreement with the government.
Before the settlement, the firm, on the advice of its counsel Skadden, Arps, Slate, Meagher & Flom LLP, removed several tax partners and admitted "unlawful conduct" by those partners. The firm agreed to cooperate with DOJ's investigation and help prosecute former partners who had devised and sold the tax shelters. Additionally, the firm hired former U.S. district judge Sven Erik Holmes to monitor its legal and regulatory affairs.
-------------------- Dont take my advice, due your own DD
-------------------- Dont take my advice, due your own DD Posts: 711 | From: Oklahoma | Registered: Apr 2006
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posted
Guys we already know that Pricewaterhouse is legit, what's important is that they choose them for the audit, and the #'s are similiar to their projections
-------------------- Disclaimer: Not accountable for anything I say Posts: 6266 | Registered: Jun 2004
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