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.
Seems something might be going on behind the scenes to cause this postponement. Have no idea what it might be! Seems very curious to me though.
prehearing conference shall be held by telephone on November 24, 2017, at 10:15a.m. EST, 'if the proceeding has not been resolved by then' Looks to me like NEWC has an open window to get things done
Thanks for the link 1manband. Does the following excerpt from your link mean they possibly until won't be revoked until Nov. 24 now instead of Oct. 10??
IT IS FURTHER ORDERED that the hearing is POSTPONED sine die, and a prehearing conference shall be held by telephone on November 24, 2017, at 10:15a.m. EST, if the proceeding has not been resolved by then.
Great, blame the auditors.
What about
If everything was done... why couldn't the auditors review the mb audit and financials and get it filed. Seems to me it should of been a simple audit because there was no income just material facts to verify.
To me their is a lot of unanswered questions.
Email I recv'd from Campo last Thrs:
******,
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
Way too long... it's as if the SEC overlords have buddies that sell conversions and help them by holding out as long as they can... STEV is still going and is farther out than NEWC on it's filings... I think the racket is the SEC... a little dirty?
I hope the new sec unit looks at both sides of the problem.
The new cyber unit has less than nothing to do with delinquent filers. That is what NEWC is. There aren't "two sides" to this suspension story.
Campos has been around and knows the process, he used to be a broker in fact. Being a Colombian business or how business is done in Colombia has no bearing here.
Campos is no victim, but he will play that card going forward to avoid taking responsibility for this.
Anyone holding into the suspension isn't a victim either. The overwhelming amount of evidence to suggest this was coming was obvious and cited many times over.
IMO, The SEC should have shut down campos and this bs a long time before this though. It went on too long.
GLTY
the attorney saying he has campo as a client is not the same thing as campo saying the attorney would handle the revocation.
Well this "lie" would mean the attorney is lying for him. Odd that others would lie for him if you ask me.
so many lies and this one confounds you?
Something is awfully fishy with someone buying!!!!
If $NEWC$ is tanking so hard and Campo is such a liar, then why are the shares being bought up??????????????????????????
What's confusing is why hire a different attorney that specializes in these matters who used to work for the SEC, if he isn't going to respond. Attorney confirmed him as a client. So strange!
Obviously, Campo lied. If he was accepting the revocation, he would have filed a response. But he didn't do that, did he? Which means he is now considered adversarial and the chances of TALK successfully re-registering the stock post-revocation are essentially zero.
Campo only seems to be able to lie.
Campo said in an email to a shareholder that his attorney advised him to take the revocation. Would that be announced as soon as Campo tells the SEC or would it be withheld until the 10th?
NEWC is still ignoring the SEC. They did not file a response to the SEC's revocation proceedings which was due the 23rd. Looks like Campo lied (again) - they have no interest in trying to revive NEWC post-revocation.
"The OIP provides that each Respondent’s Answer is due within ten days of service of the OIP on it. See OIP at 3; 17 C.F.R. § 201.220(b). Each Respondent was served with the OIP in accordance with 17 C.F.R. § 201.141(a)(2)(ii) by September 13, 2017. To date, each Respondent has failed to file an Answer within the time provided."
https://www.sec.gov/alj/aljorders/2017/ap-5103.pdf
explanation for over 3 million shares traded (over 5 million the past 2 days) ? who is buying the sells?
If the company is viable you can buy/sell on the grey. Scottrade has no problems with the grey. Not as much volume but if your stock starts to move the grey moves as well.
that right there should prove how full of shit that sight is. the grey market can not be shorted.
Calling one's broker is the best way to find out what one's broker will allow.
it depends on your broker. some do and some don't.
So how does one buy or sell on the grey market? Would my broker let me buy/sell online still like nothing has changed?
The total short interest, including MM's, post suspension was only 8,592 shares.
http://otce.finra.org/ESI
Most MM's don't keep a short position in penny stocks overnight. Too much risk. They make their money on the spread, not on speculating the stock will move one way or the other.
This volume is not short covering. Except for 8,592 shares of it, that is.
do you actually understand what that means? the short position was very small and was easily covered yesterday. since the grey market can not be shorted, it is now a dead issue.
From the Janice Shell article: When a very active stock is suspended, MMs are trapped along with traders. If they've been selling naked to provide liquidity, they may be left with open short positions. They'll want to cover as soon as trading resumes, and therefore will be buyers. Do not, however, imagine that those short positions will be gigantic; they'll only provide a brief window in which volume will be high. So time your exit accordingly. Once they've taken care of themselves they tend to lose interest.
Opti
They buyers are not short covering. At the time of the SEC suspension, there were only 8,592 shares short. Chances are they were either FTD's or a MM who was planning to cover the next day, but the suspension prevented that.
http://otce.finra.org/ESI
Often the buyers are speculators who do no DD of any kind. They either use charts and think the stock is due for a rebound, or see the decline in the stock price and think the same thing.
They pay the price for doing no actual DD. But you see this in all similar stocks. There are always some buyers right up to the moment of revocation when the stock goes worthless.
Sorry, but this case is the definition of "black and white".
NEWC has a legal obligation to file forms 10-Q and 10-K with the SEC. NEWC did NOT file the legally required documents. That makes them guilty. Period. No exceptions.
There is no defense for this - they did not do what they were legally required to do. That led to the suspension and the coming revocation.
No one is to blame for this failure but NEWC's management. Period. The SEC did their job - Campo did not.
I hope the new sec unit looks at both sides of the problem. Bc it is very easy to make a Colombian company look bad to a us agency. In Colombia business has some leeway, us agency will see it very black and white.
why? who is buying?
There's only 1 reason why SEC suspended NEWC (and will likely revoke their SEC registration once the ALJ hears their case on Oct. 10).
Don't blame shorts or anyone else. The ONE reason SEC suspended is because audited financials for NEWC were NEVER submitted on a timely basis. Plain and simple.
Angry investors may rail against Shorty and “bashers,” but the truth is that although the SEC may have originally received tips about problems with the company, they always conduct their own investigation before taking any action.
http://promotionstocksecrets.com/the-sec-just-suspended-my-stock-now-what/
So far 1.2+M shares NEWC traded today.
I do wonder if this was all jc or if shorts have been actively making calls to shut newc down. I remember there was one saying he reported medical fraud, which was untrue.
Yes, great news. More frauds like NEWC will be shut down!
Range. .0006 to .0025
More traded today than in the last weeks.
Shares of New Colombia Resources Inc (NEWC) are moving on volatility today -66.67% or -0.002 from the open. The OTC listed company saw a recent bid of 0.0010 and 1196949 shares have traded hands in the session.
Shares Seesawing on Volume: New Colombia Resources Inc (NEWC)
September 26, 2017 Stock Press Contributor
http://stockpressdaily.com/shares-seesawing-on-volume-new-colombia-resources-inc-newc/
As long as there's a chance the stock trades pink again, it's never worthless. The same reason the shorts want to cover ( there's a chance the company pops up under a different ticker that they have no idea they own and suddenly they are down), some one else might take a risk that they buy a company at 850k market cap and it pops back up as ticker xxx and second ticker sannabis worth combined 8m mktcap.
those were conversions of debt shares.
lol. and your point? that is dumping and they may not have gotten rid of them all.
no they weren't; those were conversions of debt shares.
Opti
Administrative hearing scheduled for 10/10/17:
https://www.sec.gov/alj/aljorders/2017/ap-5046.pdf
So seems NEWC could trade for another 10 days on the grey market.
JC may be trying to delay the revocation by challenging it in court.
especially if he or his cronies still have shares too dump. they were dumping as many as they could before the suspension.
Has to be short covering IMO
So who buys these suspended shares in these situations? And what would be the motivation if they will be worthless?
IF you are thinking of selling NEWC, may be best to do it ASAP before their registration is revoked. JC may be trying to delay the revocation by challenging it in court. No way to know for sure unless he is communicating with you.
Details below:
(Time; price, # shares, Market)
10:19:44
0.01
1
OTO
10:06:02
0.0025
16666
OTO
Followers
|
236
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
35791
|
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: |