New Colombia Resources Inc fka NEWC

[1manband]

I am confused why NEWC needs Audited financials

Because NEWC is an SEC registrant. It is the law under the Exchange Act.

OTCMarkets has nothing to do with the SEC. OTCMarkets is not a regulator. They are a paid PR company. Their "requirements" are entirely invented by OTCMarkets and not recognized by any actual regulator (namely the SEC and FINRA). Their rules are complete BS and meaningless whose purpose is to force non-SEC registered companies to pay them money to post "disclosure" on their website, since those companies do not file on EDGAR. And that includes their "tiers" which they invented solely to charge companies to trade on those tiers. OTC companies trade exactly the same regardless of whether they pay OTCMarkets for a tier or not.

Companies that do not register with the SEC are considered to be garbage, and for good reason. The vast majority of non-SEC registrants are fraudulent. Which is why legitimate companies register and report to the SEC. SEC registrants also trade at significantly higher market capitalizations than those that are not.. But, NEWC is seriously delinquent in their SEC reporting obligations. Which is why they are subject to SEC suspension, and subsequent revocation of their registration, at any time. Which is another reason why SEC registrants are respected while non-SEC registrants are not - they have specific due dates for specific documents containing specific required disclosures. If companies do not file such documents by the required dates which contain such required disclosure, there are actual penalties. Non-SEC registered companies have no such requirements or penalties, and the vast majority of non-SEC registered companies are nothing more than insider enrichment schemes or outright frauds. Or both.