BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[SLJB: the silliest press release ever]]>http://www.bloggingstocks.com/2007/04/18/the-silliest-press-release-ever-courtesy-of-sljb/http://www.bloggingstocks.com/2007/04/18/the-silliest-press-release-ever-courtesy-of-sljb/http://www.bloggingstocks.com/2007/04/18/the-silliest-press-release-ever-courtesy-of-sljb/#commentsIf you're looking for poorly-written, amateur press releases for entertainment reading, Pink Sheets stocks tend to be a good source of material. A few days ago, Sulja Bros. Building Supplies Ltd. (OTC: SLJB) released the goofiest one that I've ever seen -- and I follow these things pretty closely.

First, some background on the company: SLJB, a Windsor, Ontario based construction supply store, soared to a high of around 20 cents a share in September of 2006, as the company issued a string of press releases announcing lucrative contracts in the Middle East. For instance, on September 5th, the company announced that it had closed a cement contract in the United Arab Emirates which would generate $350 million (US) in annual revenue for the tiny lumberyard.

The stock's huge upward movement and volume raised the eyebrow of a local reporter who visited the company's office, and wrote a piece essentially saying that the reality of the company didn't seem to match up with the claims of hundred million dollar contracts. Pretty soon, the Ontario Securities Commission had halted trading of the stock (although it still trades OTC in the US) and charged the company and its officers with issuing false press releases and manipulating the trading of the stock while dumping millions of dollars worth of stock -- a classic pump and dump.

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SLJB: the silliest press release ever originally appeared on BloggingStocks on Wed, 18 Apr 2007 17:19:00 EST. Please see our terms for use of feeds.

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