New Colombia Resources Inc fka NEWC

[clb5412]

Could this be why they haven't been "revoked" yet? Their last 10K said they had 277 shareholders.

"Reporting Requirements
If a company registers its securities under the Securities Act, the company must then file periodic reports with the SEC under the Securities Exchange Act of 1934. The obligation to file reports continues at least through the end of the fiscal year in which the registration statement became effective. After that, the company is required to continue reporting unless the number of its record shareholders fall below the following "thresholds," in which case the company’s filing obligations may be suspended:

300 shareholders of the class of securities offered; or
500 shareholders of the class of securities offered and less than $10 million in total assets for each of its last three fiscal years."

This would make sense as to why they have not been suspended.