posted
A post from the site above, written by Petar V : ( In reply to being asked about the financials )
PNV said ... The financials were simply not acceptable and were not representative of the truth as I knew it. If I published them then I would be a thief and lier. When they are correct they will be published. It is really that simple. I would be knowingly misrepresenting the truth if I aloud the afs to be published. I am truly sorry, however, they were incorrect.
December 26, 2006 12:11 PM
" When they are correct they will be published "
~ I can't believe he's STILL throwing that out, lol ~
More from PV :
PNV said ... I thought that these matters could be dealt with in a quick and painless matter. I was once again mistaken. The only thing that matters is a truthful statement by the auditors. This in no way implies the auditors were being untruthful, rather that we at sljb needed to be more precise with our information. This was an internal issue and it is being corrected.
December 26, 2006 12:18 PM
~ Once a con, always a con ~
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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posted
75 mil shares retired today per the request of some shareholders on the ****..
Corporation Actions for "SULJA BROS. BUILDING SUPPLIES, LTD." Sort by File Date Document Number Action Type descendingascending order
1 - 12 of 12 actions Actions\Amendments
Action Type: Amendment Document Number: 20060832089-28 # of Pages: 1 File Date: 12/28/2006 Effective Date: Previous Stock Value: Par Value Shares: 800,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 800,000.00 New Stock Value: Par Value Shares: 725,000,000 Value: $ 0.001 No Par Value Shares: 0 ----------------------------------------------------------------- Total Authorized Capital: $ 725,000.00
Posted by: Airys418 In reply to: None Date:12/28/2006 7:39:06 PM Post #of 228666
One more surprise I just found out about. Are you ready for this???
They are going to restrict 75 million shares from the treasury for 2 YEARS!!!!! That process has already begun. Bye Bye shortie!!! CYA!!!!!!!!!!!!!!!!!!
IN THE MATTER OF THE SECURITIES ACT R.S.O. 1990, c.S.5, AS AMENDED
- and -
SULJA BROS. BUILDING SUPPLIES, LTD. (NEVADA), SULJA BROS. BUILDING SUPPLIES LTD., KORE INTERNATIONAL MANAGEMENT INC., PETER VUCICEVICH AND ANDREW DeVRIES
STATEMENT OF ALLEGATIONS OF STAFF OF THE ONTARIO SECURITIES COMMISSION
Staff of the Ontario Securities Commission (“Staff”) make the following allegations:
Parties
1. Sulja Bros. Building Supplies Ltd. (“Sulja Ontario”) is a company incorporated in Ontario in 1987 with a registered office in Harrow, Ontario. Sulja Ontario is in the building supplies business and has been operating in the Windsor area for a number of years.
2. Sulja Bros. Building Supplies, Ltd. (Nevada) (“Sulja Nevada”) is a company incorporated in May 2006, in the State of Nevada with a registered officer in Las Vegas, Nevada. Sulja Ontario and Sulja Nevada are collectively referred to in this Statement of Allegations as “Sulja Bros.”
3. Peter Vucicevich (“Vucicevich”) is a resident of Ontario. Vucicevich is the former Chief Executive Officer of at least one of the Sulja Bros. companies. Vucicevich is also the director and a majority shareholder of Kore International Management Inc. (“Kore”).
4. Kore is a company incorporated in Ontario with a registered office in Windsor, Ontario. Kore has a relationship with Sulja Bros. through Vucicevich.
5. Andrew DeVries (“DeVries”) is an American resident in Texas. DeVries is an associate of Vucicevich and is also affiliated with both Kore and Sulja Bros.
Manipulative Trading of Sulja Nevada Shares
6. Sulja Bros. is quoted on the Pink Sheets, an over-the-counter quotation system in the United States. It is not listed for trading on any exchange or trading system in Canada.
7. From or about September 2004 to August 2005, Vucicevich set up trading accounts at two Canadian discount brokers using employees of Kore and/or members of the Sulja family as nominees (the “Nominee Accounts”).
8. Between August 2006 and November 2006, Vucicevich and DeVries directed trading in the Nominee Accounts as follows: Sulja Nevada shares were received in large quantities into the Nominee Accounts by journal entry from Transfer Online, a transfer agent in Portland, Oregon, and were thereafter sold from the Nominee Accounts. Vucicevich and De Vries instructed the account holders of the Nominee Accounts when to trade, at what price to trade, and how many shares to trade at a given price.
9. The shares were received into the Nominee Accounts from Sulja Nevada’s treasury either directly or through Kore. In both circumstances, the trading constituted a distribution which requires in each instance the issuance of a prospectus receipt by the Commission for the securities of Sulja Nevada or a proper exemption under Ontario securities law. No such receipt has been issued nor have the Respondents demonstrated the existence of a proper exemption from the requirement, contrary to section 53 of the Act.
10. Within the Nominee Accounts, the effect of the trading in securities of Sulja Nevada as directed by Vucicevich and DeVries and as facilitated by Sulja Bros. and Kore, was to maintain a certain share price in Sulja Nevada, resulting in a misleading appearance of trading activity and an artificial price level for the shares of Sulja Nevada in breach of section 126.1 of the Act.
11. The proceeds of the trading in securities of Sulja Bros. from the Nominee Accounts as described above are approximately $7.8 million (US).
Misleading Disclosure
12. Sulja Bros. issued press releases dated August 11, 2006 and August 23, 2006, in which each time it stated that it was negotiating with KPMG LLP (“KPMG”) and PriceWaterhouseCoopers (“PWC”) to handle all future SEC filings and reporting. The press releases further represented that those firms would be conducting an audit of certain transactions and that the audited financial were “upcoming”.
13. Sulja Bros. issued a press release dated September 5, 2006, stating that it has a contract for building materials in the Middle East which will produce annual revenues of $3.5 million.
14. The representations made in the press releases described above are untrue. Neither KPMG nor PWC have or have had any involvement with Sulja Bros. Furthermore, the contracts in the Middle East referred to in the press release dated September 5, 2006 do not exist.
15. Vucicevich and DeVries are responsible for Sulja’s improper disclosure and for the misrepresentations made in the press releases.
16. By issuing disclosure that contained statements that were in a material respect misleading or untrue, Sulja Bros., Vucicevich and De Vries are in breach of section 126.2 of the Act.
Conduct Contrary to Ontario Securities Law and Contrary to the Public Interest
17. The Respondents have issued false press releases contrary to section 126.2 of the Act that misrepresent the business of Sulja Bros. and its prospects.
18. At the same time, the Respondents have traded or have caused to be traded, large numbers of shares of Sulja Nevada to third parties in a manner which constituted distributions for which no preliminary prospectus or prospectus were filed nor a receipt issued by the Director, contrary to section 53 of the Act.
19. The trading directed by Vucicevich and De Vries and facilitated by Sulja Bros. and Kore have created a misleading appearance of trading activity and an artificial price for the shares of Sulja Nevada contrary to section 126.1 of the Act.
20. The Respondents’ conduct was contrary to the public interest and harmful to the integrity of the Ontario capital markets.
DATED at Toronto this 27 th day of December, 2006.
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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-------------------- 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
Just passing along what I found. Keep in mind that these are allegations and that Petar and co will now have their day in court. Doesn't sound good but one never knows.
Have a Happy New Year everyone
Wally
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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posted
RCMP tried pinging my putter a while back - see my post posted December 23, 2006 14:47. block that IP range!! LOL!
-------------------- 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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quote:Originally posted by wallymac: SLJB Securities Commission Complaint>
IN THE MATTER OF THE SECURITIES ACT R.S.O. 1990, c.S.5, AS AMENDED
- and -
SULJA BROS. BUILDING SUPPLIES, LTD. (NEVADA), SULJA BROS. BUILDING SUPPLIES LTD., KORE INTERNATIONAL MANAGEMENT INC., PETER VUCICEVICH AND ANDREW DeVRIES
STATEMENT OF ALLEGATIONS OF STAFF OF THE ONTARIO SECURITIES COMMISSION
Staff of the Ontario Securities Commission (“Staff”) make the following allegations:
Parties
1. Sulja Bros. Building Supplies Ltd. (“Sulja Ontario”) is a company incorporated in Ontario in 1987 with a registered office in Harrow, Ontario. Sulja Ontario is in the building supplies business and has been operating in the Windsor area for a number of years.
2. Sulja Bros. Building Supplies, Ltd. (Nevada) (“Sulja Nevada”) is a company incorporated in May 2006, in the State of Nevada with a registered officer in Las Vegas, Nevada. Sulja Ontario and Sulja Nevada are collectively referred to in this Statement of Allegations as “Sulja Bros.”
3. Peter Vucicevich (“Vucicevich”) is a resident of Ontario. Vucicevich is the former Chief Executive Officer of at least one of the Sulja Bros. companies. Vucicevich is also the director and a majority shareholder of Kore International Management Inc. (“Kore”).
4. Kore is a company incorporated in Ontario with a registered office in Windsor, Ontario. Kore has a relationship with Sulja Bros. through Vucicevich.
5. Andrew DeVries (“DeVries”) is an American resident in Texas. DeVries is an associate of Vucicevich and is also affiliated with both Kore and Sulja Bros.
Manipulative Trading of Sulja Nevada Shares
6. Sulja Bros. is quoted on the Pink Sheets, an over-the-counter quotation system in the United States. It is not listed for trading on any exchange or trading system in Canada.
7. From or about September 2004 to August 2005, Vucicevich set up trading accounts at two Canadian discount brokers using employees of Kore and/or members of the Sulja family as nominees (the “Nominee Accounts”).
8. Between August 2006 and November 2006, Vucicevich and DeVries directed trading in the Nominee Accounts as follows: Sulja Nevada shares were received in large quantities into the Nominee Accounts by journal entry from Transfer Online, a transfer agent in Portland, Oregon, and were thereafter sold from the Nominee Accounts. Vucicevich and De Vries instructed the account holders of the Nominee Accounts when to trade, at what price to trade, and how many shares to trade at a given price.
9. The shares were received into the Nominee Accounts from Sulja Nevada’s treasury either directly or through Kore. In both circumstances, the trading constituted a distribution which requires in each instance the issuance of a prospectus receipt by the Commission for the securities of Sulja Nevada or a proper exemption under Ontario securities law. No such receipt has been issued nor have the Respondents demonstrated the existence of a proper exemption from the requirement, contrary to section 53 of the Act.
10. Within the Nominee Accounts, the effect of the trading in securities of Sulja Nevada as directed by Vucicevich and DeVries and as facilitated by Sulja Bros. and Kore, was to maintain a certain share price in Sulja Nevada, resulting in a misleading appearance of trading activity and an artificial price level for the shares of Sulja Nevada in breach of section 126.1 of the Act.
11. The proceeds of the trading in securities of Sulja Bros. from the Nominee Accounts as described above are approximately $7.8 million (US).
Misleading Disclosure
12. Sulja Bros. issued press releases dated August 11, 2006 and August 23, 2006, in which each time it stated that it was negotiating with KPMG LLP (“KPMG”) and PriceWaterhouseCoopers (“PWC”) to handle all future SEC filings and reporting. The press releases further represented that those firms would be conducting an audit of certain transactions and that the audited financial were “upcoming”.
13. Sulja Bros. issued a press release dated September 5, 2006, stating that it has a contract for building materials in the Middle East which will produce annual revenues of $3.5 million.
14. The representations made in the press releases described above are untrue. Neither KPMG nor PWC have or have had any involvement with Sulja Bros. Furthermore, the contracts in the Middle East referred to in the press release dated September 5, 2006 do not exist.
15. Vucicevich and DeVries are responsible for Sulja’s improper disclosure and for the misrepresentations made in the press releases.
16. By issuing disclosure that contained statements that were in a material respect misleading or untrue, Sulja Bros., Vucicevich and De Vries are in breach of section 126.2 of the Act.
Conduct Contrary to Ontario Securities Law and Contrary to the Public Interest
17. The Respondents have issued false press releases contrary to section 126.2 of the Act that misrepresent the business of Sulja Bros. and its prospects.
18. At the same time, the Respondents have traded or have caused to be traded, large numbers of shares of Sulja Nevada to third parties in a manner which constituted distributions for which no preliminary prospectus or prospectus were filed nor a receipt issued by the Director, contrary to section 53 of the Act.
19. The trading directed by Vucicevich and De Vries and facilitated by Sulja Bros. and Kore have created a misleading appearance of trading activity and an artificial price for the shares of Sulja Nevada contrary to section 126.1 of the Act.
20. The Respondents’ conduct was contrary to the public interest and harmful to the integrity of the Ontario capital markets.
DATED at Toronto this 27 th day of December, 2006.
I don't know if anyone is Canadian here, but the OSC doesn't give out big punishment. They are a bunch of pansies.
quote:Originally posted by BooDog: RCMP tried pinging my putter a while back - see my post posted December 23, 2006 14:47. block that IP range!! LOL!
What do you mean? They were trying to hack your puter, and how did you get their IP address?
Just curious.
I caught them. My putter blocked them when the Address : 142.72.11.166 [ 142.72.11.166 ] tried to infiltrate my system. LMAO - busted.
-------------------- 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
yep, yep, I'm cutting my losses on this one. Got in at .015 and out at .012 These are pretty serious allegations from Canada's version of the SEC. True or not this thing is headed back to the triple zeros whether it's allowed to trade or not. I suspect it will be delisted shortly. Get out while 'ya can if you didn't already.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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quote:Originally posted by BooDog: RCMP tried pinging my putter a while back - see my post posted December 23, 2006 14:47. block that IP range!! LOL!
What do you mean? They were trying to hack your puter, and how did you get their IP address?
Just curious.
I caught them. My putter blocked them when the Address : 142.72.11.166 [ 142.72.11.166 ] tried to infiltrate my system. LMAO - busted.
chances are their system tagged me when I was visiting their sites. then at one point POP - our systems communicated - which set off my alerts. Probably nothing but what the hell, i do like the dramatic. lol.
-------------------- 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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Sulja Bros. faces charges Security commission hammers Harrow lumber firm BY GARY RENNIE STAR STAFF REPORTER The Ontario Securities Commission (OSC) announced a series of securities charges Friday against Sulja Bros. Building Supplies Ltd., a Harrowbased company, as well as a Nevada-incorporated company of the same name and its former CEO Petar Vucicevich.
The trading of the company's stock in Ontario was also temporarily halted by the OSC, pending a Jan. 8 hearing in Toronto which will deal with allegations of improper trading and false or misleading statements made in company news releases over the past four months.
Also named in the OSC allegations is a San Antonio, Tex. native, Andrew DeVries, who was described as an associate of Vucicevich in both Sulja Bros. and a separate company, Kore International Management Inc., which launched a $20-million land assembly and commercial development a few months ago in Colchester Village.
Vucicevich couldn’t be reached Friday. Steve Sulja, CEO of Sulja Bros., didn’t return a call for comment.
The OSC charges didn’t halt the trading of Sulja in the U.S. over-thecounter penny stock market Friday, although the price did drop about 16 per cent to a little over a cent a share. About 36 million shares were traded Friday, almost double the average daily trading volume for the stock.
Sulja Bros. has been a hot stock in the penny markets over much of the past year, trading as much as 171 million shares in one day and with the share price peaking at about 21 cents.
According to the notice of hearing from OSC secretary John Stevenson that was made public on the commission’s website Friday it is alleged that: • Vucicevich set up trading accounts at two Canadian discount brokers using employees of Kore or members of the Sulja family; • Between August and November, Vucicevich and DeVries directed the sale of Sulja Bros. stock through the trading accounts with instructions of when to trade and at what prices; • The proceeds of the trading in Sulja Bros. stock through those accounts raised about $7.8 million; • The trading directed by Vucicevich and Devries “created a misleading appearance of trading activity and an artificial price” for the shares of the Sulja stock; • Large numbers of Sulja Bros. shares were sold without a preliminary prospectus or prospectus as required by Ontario securities laws; • The false or misleading news releases issued by Sulja Bros. included claims of a cement deal in the United Arab Emirates with Ramada General Contracting being closed on Sept. 5 that would bring in annual revenues of $3.5 million; • Another false company claim, according to the OSC statement of allegations, was that KPMG or PriceWaterhouseCoopers were being hired to audit some of the company’s transactions or do its financial statements.
Jim Bishop of Vancouver, a veteran of the penny stock markets who has been posting warnings about the risks of the companies for more than a year in various internet investment forums, wasn’t surprised by the OSC actions.
The series of eye-opening press releases in recent months that talked of US$350-million cement deals or a US $645-million hotel project from a company whose main asset appeared to be a lumberyard in Harrow should have raised questions, he said.
The UAE brokerage company mentioned in the OSC allegations said in an interview with The Star that it never closed a $350-million cement deal in September with Harrow-based Sulja Bros.
“We never had a contract,” said Hazem Hamaidi, general partner of Ramada General Contracting, reached by telephone in Abu Dhabi, UAE.
Hamaidi and his partner Saleh Khateeb said they were completely unaware that Sulja Bros. issued a news release Sept. 5 claiming to have closed a major contract with Ramada.
Hamaidi, who speaks English, and his partner Khateeb, were interviewed through Windsor Arabic translator Nazer Marar. The partners said various deals were discussed in some telephone calls and email correspondence, in July and August, but nothing came of it.
Vucicevich was questioned in midNovember by RCMP working for an intelligence unit in cooperation with the OSC about Sulja’s stock and claimed then he had nothing to hide.
-------------------- ~You aren't wealthy until you have something money can't buy.~ Posts: 3070 | From: CT | Registered: Apr 2006
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PR's, promises of audited finacials, company stock buy backs, uplisting to a higer exchamge, when you see these things, you might play for the pop, but don't ever let anyone tell you these companies are good solid long term investments. I have seen it too many times, CMKX, QBID, PLNI, PLBS, (PBLS, that shoe hasn't dropped yet, it will), and many others I am not aware of. Usually the "faithful", will argue to the last word. they will laud, glorify, promote, and insanely defend their chosen company. They will furnish theories, so complicated and convoluded it will make you gag and puke to read them. They will referrence a PR and spin it to the n'th degree of fantastic with inuendo and supposition. They become nuts, cultish, vindictive, defensive to the point of being viscious and hateful. Sometimes a sane sober person has to walk away, and leave them to their fate. They don't and won't consider for one second the possibility of their perception being skewed, wrong, or not real. There is only one thing that will enlighten these folks, and that is when fate and sheriff karma vistis their account, leaving behind 0's like rabbit dropppings. So, next time an idiot argues with you regarding the potential of a pos pink, you might try to enlighten him, but you will fail. The only consolation you will have is knowing that you tried, and perhaps saving someone inexperienced, uneducated, gullible, fool from the woodchipper, but if you don't, not to worry, reality has a way of making their eyes open as wide as sheriff karma's 0's.
I ask the questions, and not sure myself how to go about finding the answer, how many pinks, 1 - promise audited financials and deliver, 2 - how many pinks uplist to a higher exchange, 3 - how many pinks claim share buy backs only to be exposed later as their oportunity to dilute ?
Recently someone posted IBCX. Do I believe it might be a play, yes I do. Find bottom, don't fall for the hype, (the company's or other posters), take your profits, and don't look back.
Anyone thinking or believing these are good long term investments, and try to convince others they are, is misleading them, and being irresponsible, (imo), whether knowingly or not. This isn't a fair an honest game we chose to play. If it isn't price manipulation by the MM's, it's deception by the owners and CEO's. The deck is stacked, the dice are loaded, the roulette wheel is slanted, it's three card monty, it's the shell game, all designed to take your money.
The one question I asked might be able to be answered with a little investigation, that being, "how many pinks actually uplist to a higher exchange?" I am not sure how many pinks there are, 4,000 to 5,000? I thought I read that in 2004, there were 13 that actually uplisted. Now, the arguement might be, "why can't ABC company be one of them?". Well if you like those odds then enter a mule or a large dog in the Kentucky Derby next May, and bet it hard.
It's a long weekend. Maybe someone has little or nothing to do, and would like to answer any or all of the pink questions I asked.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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I coudn't have said it better myself. Pinks are a lotto ticket any way you slice it. You can't believe what you read in the Pink PR's. I only keep 3% or 4% of my entire portfolio in the OTC.BB and Pinks for speculative play only. I've hit once or twice but most don't pan out. It's side money I can afford to lose so I don't cry about it if I do. I never play serious money on anything I can't put a stop loss on in the first place.
I read in here where some threw tens of thousands of dollars at this play when it was up around .16! One guy, whose name I won't mention, claims to have lost close to $200,000! "It was almost everything I have!", he cried. If you can afford to lose that much bon appetite' - I know I can't. I never throw more than a coupla C notes at any Pink. That way I limit my losses and maximize chances for success by the sheer number of bets placed (much like in roulette). I cut my losses on this play and lost a few bucks - some lost their entire savings. With trading now suspended those stuck holding shares will likely ride this out to the bottom.
For many this will be a hard lesson learned. The OTC.BB has some measure of accountability and can offer better chances than the Pinks but not by much. As for these guys on IHub that promote junk like pinks, Iraqi Dinars, and the others you mention above, they are unquestionably in on the scam. I think IHub has lost much of it's credibility over the past year. They're more amusement than substance I think. The MM haven't let to many pennies run this year. That said, it's buyer beware in micro-cap plays. I think the coming year will bring much of the same. Always do your own DD first.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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I'm determined to find just 1 pink that actually does follow through - and that doesn't include my azmn pick which bounced back and forth from pk to ob. We had some good team players on this that IMO helped keep things real for our allstockers. That is one reason I like this board.
-------------------- 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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First off, I would like to thank you for providing a forum for me to make a statement. Secondly, I would like to make it clear to all who read this that I am representing only myself, Kore International Management Inc, and any other Corporation that is in my control through my sole ownership. I asked for opportunity because I feel it important that people know my position matters concerning Sulja Brothers Building Supplies, Ltd., in light of recent events.
In past week we at Kore have received certain documents from the Ontario Securities Commission regarding our corporate involvement as well as my personal involvement with SLJB. These documents allege Manipulative Trading of Sulja Nevada Shares and, Misleading Disclosure, and Conduct Contrary to Ontario Securities Law and Contrary to the Public Interest by me and Kore. However unfortunate this may appear at this time, I truly invite the opportunity to prove these allegations inaccurate. In saying this I want to make it very clear that I do not disagree with the concerns that many people have in these matters. The staff of the OSC is simply doing what it is they are there to do and is to question any corporation which is being traded in Ontario if concerns arise regarding the conduct of people involved and/or the methods in which the shares are being promoted. This in no way is to be interpreted as the undisputed presumption of guilt of any party involved. Since the time Kore was asked by Sulja to get involved and help expand the business, we have worked tirelessly together with the Sulja Management to reach the goals which we collectively have set. In a very short period of time, we have made great strides. The primary reason I was asked to join the team was for my ongoing business ventures in the Middle East and other regions around the world. We believed that together we could build Sulja into a proud and formidable force in the world of building supplies. We also felt that the time will soon be right to expand Sulja in the North American Market to compete in emerging markets first in the Mid-West Region, then along the I75 and 401 corridors. This plan has already begun with the purchase of Sam’s and research into other expansions or buyouts.
Progress in the Middle East has also been positive. Although some deals were lost, we continued to push forward making new deals possible. In this region, business is conducted at a far more personal level then what most of us in North America are accustom to. In other words, it took me three years of meetings, before I gained the trust of the people with whom I now do business, and still the relationships formed are not carved in stone. Most North American businesses I know have given up doing business in the region and have hired my firm to represent them fully understanding that there are no guarantees. However, we have been successful where others have failed and we brought our abilities into Sulja. It was believed then and still is now, that in a slow growing North American market, it would only benefit the Corporation by looking for lucrative business opportunities in one of the world’s fastest growing regions. I fully stand behind this decision and I stand behind what the Corporation has put out in press releases regarding these matters and will proudly present the commission with the appropriate documentation if asked to do so. I believe that this will put to rest the concerns of the shareholder regarding Middle Eastern matters. Any brokered deals now completed or being negotiated are being done by Sulja and not by an intermediary. I believe this to be a good thing and I am pleased at the decision we made in removing any third party involvement and again, I stand behind this decision.
In the matter listed where it is alleged that Kore or myself were in any way manipulating the markets through trades, I can simply say that this is in no way correct. In the same matter of stock manipulation were it is being alleged that I in some fashion was controlling the method in which others were trading, I can only say that this is inaccurate and untrue. These trades were done by others for the benefit of the Sulja Corporation and only the Sulja Corporation befitted from any Sulja shares which were directed into these accounts. The two accounts that were indirectly under my control in Ontario only received two million Sulja shares after the merger date. All two million shares have been converted into cert., and are being returned to the transfer agent as per my agreement with Sulja management. I feel it is also important to note, that the people who controlled these accounts never profited in any way, other then receiving their regular wages, for conducting these trades and performing their regular duties. No additional considerations were awarded to them for managing these accounts. As far as my ownership of Sulja shares is concerned; there has never been any. In other words, I have never owned, purchased, instructed any others to purchase on my behalf, or received a solitary Sulja share. This is simply a fact and anybody who claims otherwise is sadly misinformed.
Any compensation received by Kore by Sulja was predetermined prior to our mutually agreed involvement with Sulja. This deal includes payment for service and performance bonuses after our contract was fulfilled. This agreement clearly dictated our duties and Sulja expectations of Kore. This holds true with Sulja involvement with Andrew DeVries. To the best of my knowledge, Mr. Devries had fulfilled his obligations to Sulja in arranging the merger and preparing whatever documents required for this to occur. I understand, after speaking to many of the Sulja Shareholders, that they are uncomfortable with Mr. DeVries’ involvement. I also understand that he has been involved with this process from the beginning and that this fact was well known. Judging by how I am being portrayed by many of the Shareholders who know nothing about me, I am inclined not to put much merit in these judgments at this time. As far as I have been informed, all document, amendment, and processes has been completed correctly by Mr. DeVries and his forces. If for some reason fault is found in these processes, I am of the understanding that they can simply be corrected to reflect accurately any changes that may have occurred during this process. I know I never intentionally made any errors knowingly in this matter and till some actual proof is provided that Mr. DeVries has intentionally misled me, Sulja or the Shareholders, I will not pass judgment on him or any others involved. I apologize if this statement upsets anyone reading this, but after being wrongfully accused and judged for the past four months knowing I have willfully not done anything wrong, I tend to want to see proof of wrong doing before attacking anybodies character.
I would like to now comment on a touchy subject. This is the matter of the financial audits. It was my intention and still remains the intention of Steve Sulja to complete what we started. Perhaps I was premature in my thinking to attempt preparing these documents so close to the formation of the new Corporation. I attempted on numerous occasions to provide accurate figures to the auditors, however, after reviewing the findings, it was determined by all those involved that we would simply have to wait for the old Ontario Corporation to close out its books before we attempt any further audits. To remedy this, we have asked Spiegle & Associates Chartered Accountants aid Sulja in both providing an audited closing statement for the old corp. and an audited opening statement for the new corp. We felt this is the only way we would be able to complete this task accurately and quickly. We also felt by using the same firm to conduct both audits would alleviate the problems we had in the past. The same firm is dealing an affiliate firm of there’s in Chicago to prepare SLJB quarterly and yearly audits. It has always been our intention to provide this information and to become a fully reporting company. It was unfortunate that our first attempt failed. We are however taking steps to ensure this work be completed in proper fashion and in quick order. Finally, I would like to reiterate my belief in the Sulja Corporation and its entire staff. I feel this is a good company with a great vision for the future. I believe that once things become clearer, the Shareholders of Sulja will enjoy a secure and fairly valued share. As time moves on, Sulja should continue enjoying steady growth income, profit, and international presence. Those who show patients will realize the rewards and I have to remind all involved that every company experiences growing pains and will most definitely make mistakes. Unfortunately, sometimes these mistakes affect the people who have shown faith in us.
The strength of company can be measured in many ways. Recognizing mistakes in the past and working to correct them no matter the consequence is how Steve and I would like Sulja to be remembered in the future. We will correct that which transpired in an unfavorable way. I believe that in the very near future SLJB will be a keeper and people will be proud having it in there portfolio.
Thank you and God bless,
Petar Vucicevich Kore International Management Inc.
Posts: 723 | From: MotorCity | Registered: Jun 2006
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quote:Originally posted by Redwinger: hehe, too funny, I have some Russian friends too, lol
related to NDOL by chance?
lmfao j/k
-------------------- 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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quote:Originally posted by Redwinger: hehe, too funny, I have some Russian friends too, lol
related to NDOL by chance?
lmfao j/k
that was meant to quote paulbest about petar not your friends sry.
-------------------- 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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quote:Originally posted by Redwinger: hehe, too funny, I have some Russian friends too, lol
related to NDOL by chance?
lmfao j/k
that was meant to quote paulbest about petar not your friends sry.
Of course both are russians, so even if not related by acquaintace, there is some 'blood" connection. If you know what I mean. Also lets not, by any means, forget our friend at GBDX "global"!!! diamond exchange. You did very fine detective work in uncovering that guy's dealings in the past decade. I guess you googled his name and came up with some significant "dirt" (to put it respectable).
hehe glad i took your advice, although I knew of the russian dealings.
One year in new orlreans, long befeore katrina hit, I went to a russian trade show at the river convention. The last day of the promo show there was a panel of russian representatives from various facets of the russian economy and government, where it was a open question forum. . I recall of the 10 members, one was trying his best to give us some idea of the farse and scandals that take place on a daily basis in russia. He was intimidated by 2 'thug" members" from saying too much. One 'thug" in particular spoke like the "voice of the machine", cold calculated, menacing figure, big and brutish looking, "watch your step" look. "watch your back" more like it.
Nothing against the russians, as I've met a few nice fellows as well. EOM
-------------------- Do not invest on any of my suggestions Posts: 1215 | From: baton rouge | Registered: Apr 2006
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posted
These two rooskies are no thugs. In fact, they're very brilliant and I have to give them both credit for pulling the wool over all our eyes for as long as they did. Fisrt as Loftworks and then SLJB. I think this is one of the most masterfull scams I have ever seen anywhere and my hat goes off to each of them in a macabre sort of way. Not that they are to be commended by any means. I'm sure those of you who lost most of your bankroll hope they get hung like Saddam. My guess is they'll wind up spending their booty on some remote Carribean island for years to come. Still, I'm amazed at the depth and breadth of this swindle. This was the hottest penny stock on the market. That alone was a warning in itself. I wonder these guys could've accomplished had they foucused their combined energies in a positive way. Alas, I suppose we'll never know.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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Posted by: Airys418 In reply to: None Date:12/28/2006 7:39:06 PM Post #of 228666
One more surprise I just found out about. Are you ready for this???
They are going to restrict 75 million shares from the treasury for 2 YEARS!!!!! That process has already begun. Bye Bye shortie!!! CYA!!!!!!!!!!!!!!!!!!
Airys418
More of a question than a theory, IF they do get delisted and this becomes a shell - and they infact have this 75M restricted at say a par of .001 (not even sure that is possible btw) and it carries into the next life they would be sitting pretty good. Is this possible?
-------------------- 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
Interesting theory and very plausable but I wouldn't hold your breath. I think it'll be years again before this would-be shell sees a buyer. My guess is this will gap to sub-penny on opening bell tommorrow, then the triple-zeros in a week or two, and then *pooff*...all gone.
Posts: 669 | From: Gouldsboro, Pa. | Registered: May 2006
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