| To: Done, gone. who wrote (606) | 11/21/2006 8:38:56 AM | | From: scion | of 1680 | | | Sulja Triggers Calls For Penny Stock Disclosure
November 20, 2006
Sulja Triggers Calls For Penny Stock Disclosure
The lack of disclosure, despite promises to release audited financials, is yet again crushing the stock price of Sulja Brothers Building Supplies Ltd. (OTC: SLJB). Investors further sold off shares this morning, after not receiving an expected corporate update on Friday. With fears triggered by a Windsor Star article concerning the legitimacy of the company's operations and an RCMP investigation that has led investors to question whether the company is an outright scam, the stock is now trading for just a little over a penny at $.013, down $.017, or 56.67%, on another heavy volume day of 94 million shares traded. There is no doubt that investors with experience trading penny stocks will only be encouraged to speak out more and demand greater disclosure rules from regulators. It could not come at a better time as the Pink Sheets has taken steps to bolster market confidence by requiring issuers to disclose additional information to stockholders. Beginning in May 2007, Pink Sheets has created a new issuer classification system in order to provide more transparency to investors about the ability and willingness of individual issuers to provide adequate public disclosure in a credible and timely manner. Additionally, companies that have substantial operating businesses and provide credible disclosure to the public qualify for the premium tier OTCQX, which commences trading January 2007. It just goes to show that when it comes to the stock market, disclosure is surely the best disinfectant.
by Thomas @ 4:08 PM
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