Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
There is a risk to that.. not only for JC but for Edgar Renteria who was a shareholder and was pushing the product. Does Edgar who probably sold shares and made money on sale transactions before the SEC suspended NEWC want it to be known as part of a fraudulent company? If so, this can tarnish his reputation. IMO
lol. what money does the sec "walk away with"?
So, you're saying the SEC in collaboration with Campo has been handed a license to walk away with the shareholders money without any accountability as a aresult of the revocation. Who does the SEC discipline in that scenario?
Campo will be back, new name, same story, new certificates. Get your money ready.
IMO, no way Campos/NEWC put fins out there after 2.5 years of no filing, one auditor that bailed (MB) and now suspension, as well the hoops involved to get back up under NEWC.
Revocation and shutdown much safer and easier for these jokers. No consequences for them.
So what you're saying is that I have a chance?
Please share the link
It's said the punishment should be blah blah, but NEWC {Campo) isn't being charged for a crime. It's a violation of an SEC rule.
and the punishment for that is revocation.
campo should have the right to remedy the issue.
he does as he spelled out in the 8k.
The SEC should be required to give most consideration to the share holders involved that have assets to lose.
the sec regulates companies.
Thanks for your knowledgeable reply. Good info.
It's said the punishment should be blah blah, but NEWC {Campo) isn't being charged for a crime. It's a violation of an SEC rule. IMO campo should have the right to remedy the issue.
The SEC should be required to give most consideration to the share holders involved that have assets to lose.
They suck! LOL
and it does seem he got legal help on the 8k. today he finally got it correct.
But it is a good target to aim for. Personally, I am hoping this is trading again within 6 months.
Opti
it is his intention to have this registered and trading again by the first of the year.
that is pretty much impossible. the minimum time from filing a form 10 is 60 days and he is a long way from that.
Well, we all know that John Campo is somewhat overly optimistic with his timeframes, but he has stated it is his intention to have this registered and trading again by the first of the year.
We shall see.
I am hopeful, and I am obviously an optimist.
Opti
Yes, we'll have to wait and see. It won't be a quick process, if they go through with it.
Once filed, Forms 10 become automatically effective after 60 days. But they are reviewed by the SEC. If the SEC sees problems, they'll point them out to the company, and the company will be expected to amend the filing. Even in that short time, they may be asked to amend more than once.
If the SEC sees problems that will take longer to fix, it'll suggest that the company withdraw the Form 10 and refile when it's ready. Most companies realize that isn't really a suggestion.
If the Form 10 does become effective, the SEC may also require post-effective amendments. And at that point, NEWC will need to find a sponsoring MM to file a Form 211 with FINRA. That can be a problem.
Back in 2012, MIKP was suspended. It was not an SEC registrant at the time. A couple of years later, the CEO filed a Form 10. It did become effective. But FINRA gave the company a long, long runaround with the 211, asking for more and more documentation, some of which ended up being requested more than once. Finally the MM told the company it was obvious FINRA just wasn't going to approve it.
So the CEO gave up and filed a Form 15 to terminate registration. It still trades on the Grey Market.
"IF" is the key word. And "IF" they file a new Form 10, what's the timeline look like? Months? Years?
In fact, since NEWC stock will likely be cancelled...
No, your stock will not be cancelled. You'll still hold shares in New Columbia Resources. But New Columbia Resources will be a private company once revocation of registration is complete.
If Camp files a new Form 10, it will register your shares once again.
Market Value $282,516 a/o Sep 28, 2017. Gak!
YUP. John Campo is a thief and a liar. He will just rinse and repeat in his next penny scam because there is no recourse for scum bag CEO's like him.
Current shares will be dead. Campo will have a new name and will have new shares to sell. Holders of NEWC might as well tear them up or just move on. A new game may start but the old game is over for sure.
BOL to all longs here. This story is about over for the next 6-12 months. Will check back once in a while to learn of any new developments here, otherwise its "sayonara" for me.
What's interesting is when you contact the SEC about the suspension/revocation process they will indicate that trading again is not that complicated.
Yooo, filing Form 211 and getting it approved by FINRA would be the LAST step in a long and arduous resurrection process, if that is, indeed, what JC is planning to do. The challenges along the way would be immense.
In fact, since NEWC stock will likely be cancelled, I don't even know how JC could distribute new stock to his old NEWC shareholders. I suppose he will need documentation from the current transfer agent as to who holds and how many shares are held by every individual shareholder at the time NEWC shares are cancelled. Seems very unlikely to me. But if you are unable to sell your shares in the grey market BEFORE NEWC shares are revoked and cancelled, I suppose you can continue to hope this most unlikely scenario will eventually play out and you get new shares in a new company run by JC. If it was me, I wouldn't hold my breath.
This is basically what Campo said in his email to a few shareholder weeks ago.
you have the wrong order. first it will be revoked. then, at some point the company could file a form 10 and attempt to be registered again. assuming that happens, then and only then would a form 211 come into play.
NEWC has agreed to SEC revocation:
https://www.sec.gov/Archives/edgar/data/772370/000107878217001335/f8k092917_8k.htm
If and when FINRA approves the Form 211, trading in the Company’s common share will resume.
Item 8.01 Other Events
On September 11, 2017, the United States Securities and Exchange Commission (the “SEC”) pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), temporarily suspended trading in the Company’s common for ten days ending 11:59 PM EDT on September 25, 2017 due to a lack of current and accurate information about the Company because the Company had not filed certain periodic reports required by the Exchange Act with the SEC.
On September 12, 2017 the Company was served by the SEC with an Order Instituting Proceedings and Notice of Hearing Pursuant to Section 12(j) of the Securities Exchange Act of 1934. The stated object of such hearing and proceedings would be to determine whether, in light of the Company’s failure to file the aforementioned periodic reports, and in order to protect investors, to suspend or revoke registration of the Company’s common shares.
After thorough examination of all options available to the Company under the circumstances, the Company, in light of the fact that the Company did fail to file the required periodic reports, believes its best option is to consent to revocation of the registration of its previously traded shares of common stock. This will result in the inability of public shareholders to buy or sell the Company’s shares in the OTC Market as no broker/dealer will be able to publish bid or ask prices for the Company’s shares. The Company’s landing page will be deleted from the OTC Markets website and the Company’s symbol “NEWC” will be deleted.
However, such action will enable the Company to file, as soon as is practicable, a registration statement on Form 10 (the “Form 10”) for the previously issued shares whose registration will have been revoked. The Form 10 will include audited Company financial statements for the years ended December 31, 2015 and 2016 and unaudited financial statements for the nine (9) months ended September 30, 2017 and will become effective by lapse of time 60 days after it is filed. Simultaneously, the Company will solicit a Financial Industry Regulatory Authority (FINRA) registered broker/dealer to file a Form 211 with FINRA to enable said broker/dealer to publish quotes for the Company’s previously suspended common shares. If and when FINRA approves the Form 211, trading in the Company’s common share will resume.
There can be no assurances as to whether the Company will ever be able to complete it audits and file a Form 10, that the Company will ever be able to find a FINRA broker/dealer to file its Form 211 or that FINRA will ever approve the Form 211 that will allow a FINRA broker/dealer to publish a quote for shares of the Company’s common stock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Wow, NEWC is back up and trading today ?!?
All my shares of NEWC were dumped. I'm out. Good luck all!!
there are 1000's of stocks-one time i noticed ca 10000- on the grey market- and 1000's of pink stocks are not sec reporting-so i dont know why the sec employs such draconian measures-withdrawing any kind of sec approval would seem like a logical course without all the extras
so we continue to wait for the audited financials etc
posted on another site:
Email I received from Campo:
S*****,
Our stock was suspended because we didn't file our quarterly and annual statements on time. Our auditors took longer than they agreed to, we plan to agree to revocation then we'll take the steps necessary to re register our shares. Hopefully the only thing lost is time, we are updating our website to keep shareholders informed. We had requested the SEC give us until Sept. 22, but on Sept. 12, they suspended trading in our stock.
We will be filing a new Form 10 with audited financials to re register our company after Sept. 30, to include the third quarter in that filing. Additionally, we are conferring with market makers to file a Form 211 that should go effective in 60 days. By doing so, we will be a compliant fully reporting company, we hope all that's lost is time. We will update the investor information page on our website, so please stay tuned we will post the Form 10 once it's filed. We apologize for the inconvenience, but the company is developing it's plan.
Thanks,
John
What's the name of this company?
Only possibility is people are buying on a gamble that the stock will return under a new registration. One million shares for $1,000; is it better than a lottery ticket? I guess some people think so. I tried to put in a bid for 100,000,000 shares at 0.00001, but eTrade will not take a bid less than 0.001. I thought the bid might pick up any shares offered at market if there were no other bids.
Opti
2.6 million traded now. It's not a ton of money but who is buying??
Anyone think Maybe NEWC will reemerge under(New)stock Symbol as do many other Pennies stocks & Spike UP!Trading Price
I am just surprised that people are buying honestly.
Yes, and total dollar volume a whopping $1,360 - lol
Scottrade showing 1.3 million traded now!
Ok, so my thing is this. Jc has given us very little to go off of. If this is just a case of he was finishing the fins and sec suspended early, then he should send us the fins. We just have to wait an unknown amt of time based on good faith otherwise? Also sannabis during the suspension seems to have moved to private sales. And investors relation page is down. So I'm just supposed to sit and wait? I thought this might be the work of short sellers, but is he saying no? There is a chance that jc is legit and this company will reemerge but I need more than his word.
The sec is horrible whether they are criminal or complicit. Whether or not short sellers are involved this course of action is terrible. I don't see how taking us off a modern electronic trading system, to the wild West of market makers that is the grey market helps. The price can triple halve, someone can sell for double at same time as you, grey market is asking for criminal activity.
tsnp was never suspended by the sec.
I owned a stock TSN* years ago that had a similar situation and reopened many months later, stood stagnant and then increased PPS.
Inconvenience? That's hilarious JC!
Followers
|
236
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
35792
|
Created
|
09/23/05
|
Type
|
Free
|
Moderators |
On November 30, 2016 the Company received a letter from the United States Securities and Exchange Commission Office (the “SEC”) of Enforcement Liaison Division of Corporate Finance which informed the Company that it was not in compliance with its reporting requirements under the Securities and Exchange Act of 1934 (the “Exchange Act”) and that, as a result, the Company may be subject, without notice, to an administrative proceeding to revoke its registration and suspend trading in the Company’s stock. The Company has not filed the required reports as of the date of this report, however it intends to file such reports as soon as possible. Nevertheless there can be no assurance that trading in the Company’s stock will not be suspended by the SEC at any time. Company counsel is in communication with the SEC staff with respect to this issue. - Signed by John Campos, President 8/4/17
https://ih.advfn.com/p.php?pid=nmona&article=75388386" rel="nofollow" target="_blank">https://ih.advfn.com/p.php?pid=nmona&article=75388386https://ih.advfn.com/p.php?pid=nmona&article=75388386
“I share my shareholder’s frustration,
but at this point I have to let the auditors do their job.
All I can do is give them what they ask for, which I have.
I was told for the past two weeks we would be done the following week.”
John Campo CEO - March 9, 2017
https://insiderfinancial.com/heres-what-really-matters-about-the-latest-new-colombia-resources-inc-otcmktsnewc-release/120027/
NEWC IS DELIQUENT IN IT'S SEC FILINGS
+
Corporate Profile
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. We own 100% of La Tabaquera coal mine in Guaduas, Colombia with an estimated 15- 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal. SGS Colombia S.A. completed a drilling program for an N.I. 43-101 Technical Report; once financing is secured we will implement the program. Our Mining Plan of Operations (PTO) was approved on December 23, 2013. In April 2014 we applied for an environmental license. We expect to begin mining operation in August 2015.
New Colombia Resources also has a medical cannabis business in Colombia operating as Sannabis SAS. Sannabis is a partnership between New Colombia Resources and others including members of the Nasa Indian Nation of Colombia. Medicines are legally produced on the Indian reservation and distributed throughout Colombia. Sannabis enjoys first mover advantage in Colombia and aims to provide the best medicine with scientific evidence available in Colombia and
Investor/Media Contact
John Campo
President/Chairman
1-410-236-8200
Email: jcampo@newcolombiaresources.com
Registrar and Transfer Agent
Standard Registrar and Transfer Company Inc.
12528 South 1840 East
Draper, UT 84020
Phone:(801) 571-8844
Fax: (801)571-2551
O/S 723,990,644
RS 180,820,644
Float 543,169,876
http://www.otcmarkets.com/stock/NEWC/news
New Colombia Resources Inc. (“New Colombia” or the “Company”) is a publicly traded resource company listed on the OTC under the symbol “NEWC”. The Company is focused on the acquisition and development of high quality metallurgical coal properties in Colombia, considered one of the most attractive emerging markets. With an estimated US$378 billion in gross domestic product in 2013, it became the third largest economy in Latin America and is growing 4% to 6% per year. Colombia has the largest coal reserves in Latin America and is the fourth largest coal producer in the world. Total coal production decreased by 4% in 2013 to 85.5 million tonnes. Coal producers aim to increase coal output in 2015. Colombia privatized its coal sector in 2004 and is committed to investing in infrastructure to support increased mining.
We are focusing on our La Tabaquera coal and rock project (the “Project”) located in the Municipality of Guaduas, approximately 100 kilometers northwest of Bogota. This Project’s haul roads are easily accessible either by National Highway I-50 or the new Ruta del Sol. The property is within 50kM of the Magdalena River, providing easy transport to terminals in Barranquilla, Santa Marta or Cartagena for export. The Magdalena River is being dredged to allow cargo from La Dorada which in close proximity to their mine.
Recently we purchased a rock crushing plant with processing capacity of over 100 m3/hour of aggregates which is expected to be operating in by August 2015. Demand is strong for building material in Colombia since many illegal mines have been closed as new construction and infrastructure projects come online. Construction of the final sector of the Ruta del Sol road project was approved to begin. It will consist of tunnels and bridges within 5 kilometers or our coal and rock mine. This allows us to supply road builders with aggregates, and then use these roads to move our coal to export terminals. We intend to fund our coal operations with the cash flow generated from the sale of processed aggregates.
An “Estimate of Probable Reserves and Grantable Potential of Coal at La Tabaquera Mine” report was prepared on behalf of New Colombia in September 2011. The report estimated reserves for La Tabaquera Project of 13,073,935 cubic meters for a total of 16,996,116 tonnes of bituminous coal (non JORC compliant), with 70% being metallurgical hard coking coal and 30% thermal coal.
Based on the high quality of our coal, we expect to sell at a premium to other domestic coals. We believe our mines have Blue Gem coal, only found along the Kentucky Tennessee border in the U.S. and Colombia. This coal is unique because of its low ash and high carbon content. It is in high demand for the silicon and silicon based alloy market. Beginning in 2015, New Colombia will concentrate tunnel mining its hard coking coal seams first. The Company expects to mine 20,000 tonnes of hard coking coal per month.
We own the mining title and land where we will commence operations. Our Mining Plan of Operations (PTO) was approved in December 2013 by the Agencia Nacional de Mineria (ANM). In April 2013 we applied for an environmental license which we expect to be issued soon.
https://finance.yahoo.com/news/colombia-resources-announces-sannabis-subsidiary-123000253.htm
CALI, Colombia, April 21, 2016 /PRNewswire/ --
New Colombia Resources, Inc. (NEWC), a U.S. company with natural resource assets in Colombia is pleased to announce that its subsidiary, Sannabis SAS, has received a multi-million-peso purchase order from doctors of a well-known hospital foundation in Medellin, Colombia. This 100-year-old foundation has a University Hospital, Children's hospital, and an Institute of Medical Technology.
These doctors will offer medical service visits introducing Sannabis products direct to patient's homes. Medellin's urban area is Colombia's second largest with a population of over 3.5 Million people. Sannabis products are well accepted in Medellin therefore the company is focusing a strong sales effort in this region and plans to open addition distribution points.
Sannabis is very pleased with the testimonials for their Climax female lubricant product which they private labeled for a distributor in Colombia. We congratulate the distributor with the success they've had in creating a niche market for this lubricant made with our 100% organic cannabis sativa extract and coconut oil. According to this article in Colombia's leading newspaper, El Pais, the distributor surveyed 50 women that used the product with favorable results, which is evidenced by their re-order. Sannabis has received a second bulk order from this distributor.http://www.elpais.com.co/elpais/cali/noticias/spray-sube-deseo-sexual
In addition to their original Sannabis brand products, and due to Sannabis' position as the only legal mass producer of medical cannabis based products in Colombia, the company is working with entrepreneurs that want to develop brands and market medical cannabis products. This is in line with their plan of being mass producers of high quality 100% organic cannabis extract, while maintaining the top brand in the industry, Sannabis. Although the media gives the distributor credit for developing the product, it was developed, produced, and bottled by Sannabis.
Sannabis is working with an in-house distributor that will mass market the Sannabis Climax brand female lubricant spray to a different demographic with different price points and presentation so as to not directly compete with private label partners.
CALI, Colombia, April 20, 2016 /PRNewswire/ --
New Colombia Resources, Inc. (NEWC), a U.S. company with natural resource assets in Colombia, is pleased to announce that its subsidiary, Sannabis SAS, has received orders from an established pharmacy chain distributing natural products in southwest Colombia.
Natural Pharmacy chain Salud Semillas, a leading distributor of natural products with an established customer base in southwest Colombia, has placed an initial purchase order and developed a marketing plan to generate strong sales. In addition to having stores in upscale malls and shopping centers they also sponsor a morning health talk radio show to discuss their featured products. The show targets an area of 350,000 people and attracts 25-35,000 listeners daily from 8-8:30 am. Salud Semillas' marketing plan for Sannabis products includes radio talk shows, telemarketing group, internet sales, newspaper ads, and a direct to customer health magazine called "Buena Vida" which is distributed directly to thousands of customer's homes monthly by Salud Semillas' trained personnel in strategic neighborhoods. For more information on Salud Semillas visit http://www.saludsemillas.com. Their radio show is also broadcast in Spain, France, and Germany as well as online. To listen to the show tune into http://emisora.univalle.edu.co.
"After 20 years of hard work developing high quality medical marijuana products in Colombia, I'm pleased that we were finally able to establish a mainstream market, our orders are coming in droves," said Juan Pablo Guzman, Director of Sannabis in Colombia.
Dr. Robert Melamede Ph.D., scientific advisor to Sannabis and New Colombia Resources, is now in Dubai as a guest speaker at the World Congress on Oncology and Radiology held from April 18-20. He presented at the Novel Approaches to Cancer Therapeutics session. Dr. Melamede is a world renowned expert of the body's Endocannabinoid System and can easily educate world leaders on why cannabis cures and relieves. Dr. Melamede has firsthand knowledge of the effectiveness of Sannabis products in South America and is helping the company establish relationships and purchase orders with Middle Eastern countries. "The cannabis awakening is spreading across the world. The scientific knowledge of the unique healing powers of this plant are now known by more and more people around the world. The truth can no longer be suppressed by ignorance," stated Dr. Robert Melamede, Scientific Advisor to Sannabis and New Colombia Resources.
"In anticipation of having an approved export license, our approach to the international market is simple. You know cannabis cures but you don't want the hurdles of growing marijuana. Our region has grown the best medical strain for generations, we can grow and manufacture the highest quality 100% organic cannabis products for you at the most competitive cost possible. Colombian entrepreneurs are creating a new industry for the legal international medical cannabis and industrial hemp products market and we're proud to be a part of it," commented John Campo President of New Colombia Resources Inc.
Share Statistics | |
Avg Vol (3 month)3: | 206,075 |
Avg Vol (10 day)3: | 18,756 |
Shares Outstanding5: | 154.34M |
Float: | 118.09M |
% Held by Insiders1: | 23.49% |
The results are available on the Coal Specifications page of the company's new website, http://www.newcolombiaresources.com.
SGS is the world's leading inspection, verification, testing and certification company. They are recognized as the global benchmark for quality and integrity. With more than 75,000 employees, they operate a network of more than 1,500 offices and laboratories around the world. Their core services can be divided into four categories: inspection, testing, certification, and verification. For more information visit http://www.sgs.co/en.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |