quote:Originally posted by Redwing91: Good Post Klondike...5 Stars for you
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.
I appreciate your comments (and cassity's and J_U_I_C_E's and others.) I posted the information because as a newbie I used the information in addition to my own DD to help form an opionion on this and other penny stocks. I am a total newb to investing and would be willing to bet that there are others that are in a similar position and thought it would be helpful to them. I still own the stock and could have made 50% on my money selling today if I was apprehensive. The fact is I am not really apprehensive at all since I knew full well the risk before I got in to this market. The risk is that you can loose your ass! The interesting thing I am learning is that a LOT of DD can go a long way in avoiding scams and helping understand the behavior and nature of our investments. I have done probably way more DD on this SLJB than necissary to feel comfortable with it. The BEST advice I have recieved from everyone here is "DO YOUR OWN DUE DILLAGNCE" and that is exactly what I have done. I will say that message boards like this and the internet in general make doing DD a lot easier. I/We just have to remember to sort through the BS. Use verified Facts when at all possible.
I can't tell you enough how much I appreciate everyones input on this stock and on this Forum in general. I can promise you that if I find good news or bad news I will be posting it immediately to continue the efforts of all those who have made valuable posts here.
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I don't know about you guys but I felt a lot better buying into the rising tide today, versus buying on the dips a few trading days earlier. I believe the unaudited Financials well be close to the audited ones so there's no way I would flip this baby -- not even to ride free shares. Cmon! If you were one of the lucky few to have a ticket to paradise would you dare step off the train just to stretch your legs? I ain't getting off until at least 2 bucks a share!!! 100K shares and holding strong!
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Hey, is anybody out there subscribing to WWW.**********?
It's supposed to show you which shares have been shorted (naked) the most. Just wondering if it really works. A good strategy might be to go down their list and find a few stocks that have the most promising looking fundamentals, you know, like another SLJB!
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If Wessel if buying 25%, than that means they will have 1/4th the voting rights of SLJB and they can influence what happens with the company.
I doubt they are going to be flipping and selling and lose their control of the company (the reason they are buying 25% in the first place). Pretty sure that 25% ownership qualifies as some sort of board member.
I, just like any of you, would like to buy at the cheapest price if we assume this is going to skyrocket. Could this be the reason it tanked last week? I dont know. But I do know that after a credible audited financial release the PPS is going to go up a lot if its anything close to the pro forma. So why would wessle buy after it goes up? They wouldn't. They would somehow take down the PPS and buy a bunch of shares before the release.
that is assuming we aren't being scammed
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion*
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Like you said sniper, a lot of people believe the pps went down last week because sljb was selling big chunks of their shares into the open market so wessel could then buy the chunks for a lesser price. There were none of these big sell and buy chunks today so i think they may be done and thats why the share price went up today
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Does anyone know much on the SEC rule of filing when an individual/company "owns" more than 5% of the os? Won't this need to be filed when he actually purchases these shares?
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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I'm finding it hard to believe that SLJB would sell some of their shares into the open market cheap just so Wessel could buy some cheap chunks when SLJB knows that the audited financials will be released very soon and they can get much, much more for their shares. Does anyone else get this? They have an opportunity to make money, why sell so cheap. Wessel will get the shares anyhow.
It would make much more sense for Wessel to buy and short the MM's even more. But, unless they tell us flat out, there is really no one to confirm any of this, they are only guesses but my guess makes more sense to me.
-------------------- ~You aren't wealthy until you have something money can't buy.~
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Great posts camel and sniper. If you had MILLIONS of dollars would you be throwing it into a PENNYSTOCK? I think they know more about Sulja than we could ever imagine. Another good thing about them buying, is they are showing that they will be behind SLJB financially as well. I hope for the best for all of us and look forward to the ensueing days/weeks ahead. GLTA BTW: I will be golfing all day tomorrow so, hold down the fort. -Cassity
quote:Originally posted by Wit: I'm finding it hard to believe that SLJB would sell some of their shares into the open market cheap just so Wessel could buy some cheap chunks when SLJB knows that the audited financials will be released very soon and they can get much, much more for their shares. Does anyone else get this? They have an opportunity to make money, why sell so cheap. Wessel will get the shares anyhow.
It would make much more sense for Wessel to buy and short the MM's even more. But, unless they tell us flat out, there is really no one to confirm any of this, they are only guesses but my guess makes more sense to me.
I just wonder how we could explain those 1 million share trades going thru last week (all happened under or at the bid), wessal buying? shorts covering? who can tell?
Im very glad with today's closing price though also I didnt see any trades like last week, so that gave me a lot more confidence
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Guys, I can't find anything on Wessal international, who is to say they are even an established and successful company? Where can we find proof that they are buying, because a PR is forward looking and not official.
-------------------- Disclaimer: Not accountable for anything I say
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quote:Originally posted by stocktrader22: Guys, I can't find anything on Wessal international, who is to say they are even an established and successful company? Where can we find proof that they are buying, because a PR is forward looking and not official.
Not sure if this helps but here is some posted on Ihub...
RED SEA HOUSING SERVICES COMPANY LLC http://www.redseahousing.com/ P.O. Box 17365, Jebel Ali Free Zone Dubai, Saudi Arabia Phone: +97 1-4-883-8589 Fax: +97 1-4-883-9731
the price has come down to accomodate the 25% share purchase by wessal, int. and in return they (sulja & wessal) will raise it back up when there(wessal) done buying, with Pr's and audited financials
a win, win , win situation in the near future
tough to have the price down now, but good time to reaccumulate if you can afford to, cause it's only temporary
***do your homework** Ohio_Trader
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doubt we see .0051 again, got 2 good flips in, better than none i guess, i'm going to hold tight now and see where we go from here........
IMO
we will see a 150-225% one day gainer in the very near future, as i posted 3 weeks back when it went over .10( some jostling for position, some profiting, some pullback consolidation) and now the recent purchasing of 25% of the shares
thus .25 -.32, and then another round of positioning, before the next breakout
GLTA
much bigger and brighter days ahead for SLJB
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the price has come down to accomodate the 25% share purchase by wessal, int. and in return they (sulja & wessal) will raise it back up when there(wessal) done buying, with Pr's and audited financials
a win, win , win situation in the near future
tough to have the price down now, but good time to reaccumulate if you can afford to, cause it's only temporary
***do your homework** Ohio_Trader
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doubt we see .0051 again, got 2 good flips in, better than none i guess, i'm going to hold tight now and see where we go from here........
IMO
we will see a 150-225% one day gainer in the very near future, as i posted 3 weeks back when it went over .10( some jostling for position, some profiting, some pullback consolidation) and now the recent purchasing of 25% of the shares
thus .25 -.32, and then another round of positioning, before the next breakout
GLTA
much bigger and brighter days ahead for SLJB
Yeah, anybody that sold today around 8 or 9 cents may have just burned themselves at the stake thinking we'll drop back down to .05 or .06. They may have to chase the ask tomorrow. lmao. love it. you've been in this stock for some time and I think you're right on the money as to what is about to happen with the pps.
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Here's something independant of Sulja Brothers about Red Sea Housing.
Red Sea Housing Services to offer shares
Red Sea Housing ServicesRed Sea Housing Services (RSHS), a major Saudi housing company that provides solutions in housing services, is offering its shares for public offering next week. The company is one of the companies of Al-Dabbagh Group. Nine million of its total 30 million shares will be offered for public offering on Aug. 12.
As per the law, the minimum amount of shares allowed to be bought is 10 and the maximum is 25,000. It shares will be sold at SR58 per share in the initial public offering.
Majed Al-Kasabi, chairman of RSHS, said that the company targets its clients were mainly in four main areas: oil and gas platforms as well as oil refinery and petrochemical plants, the mining sector, the construction sector, and multi purpose companies.
“These housing services are either built on a temporary basis or permanent basis,” he said, according to Arab News. The services include the construction of a housing units, offices, electrical power generators, as well as water treatment plants.
quote:Originally posted by wallymac: Here's something independant of Sulja Brothers about Red Sea Housing.
Red Sea Housing Services to offer shares
Red Sea Housing ServicesRed Sea Housing Services (RSHS), a major Saudi housing company that provides solutions in housing services, is offering its shares for public offering next week. The company is one of the companies of Al-Dabbagh Group. Nine million of its total 30 million shares will be offered for public offering on Aug. 12.
As per the law, the minimum amount of shares allowed to be bought is 10 and the maximum is 25,000. It shares will be sold at SR58 per share in the initial public offering.
Majed Al-Kasabi, chairman of RSHS, said that the company targets its clients were mainly in four main areas: oil and gas platforms as well as oil refinery and petrochemical plants, the mining sector, the construction sector, and multi purpose companies.
“These housing services are either built on a temporary basis or permanent basis,” he said, according to Arab News. The services include the construction of a housing units, offices, electrical power generators, as well as water treatment plants.
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also I didnt see any trades like last week, so that gave me a lot more confidence
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