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A lot of members are getting to emotional. Just wait and see. You'll drive yourself crazy in the meantime. It could take weeks to months. There are positive catalyst on the way.
Don't let the price action get to you. It on the Grey market and will sink. It's also a great buying opportunity. A couple hundred could make breaking even easier
I'm not taking Newl for there word. I'm doing my own DD. I don't have rose colored glasses on what Newl did either but I'm more concerned with what l get out of this mess. Newl is a bad company to invest in but if l can can get out break even or with a profit then obviously I'm all for it
Marc j Ross file what he knew he could get out of them based on a ( proper ) ruling. The last judge ruled he had no jurisdiction in the matter. Iron ridge didn't win or lose, but Newl caught the harsher side of the ruling.
Fast forward to now they breached the contract on multiple points. What's confusing iron ridge is good at covering their tracks. Something went wrong.
We've yet to see how this unfolds.
Ive been reading up on the formal process of delisting a security and this wreaks. First of all where the form 25. Nasdaq was suppose to file one Instead we get a security deletion. So what the hell is going on. Is this some sort of loophole to get NEWL off the Nasdaq silently.
Im sorry, l might lack the expertise to understand formal processes but this doesn;t seem right.
What up with the resumption date. Delete a security and resume it?!?!?!?!!?
I'm seeing some of the weirdest activity witht his stock. There haven't even been a form 25 issued yet. This all looks like it could be temporary
Yea... Most of us saw it coming a mile away. Might score shares a bit cheaper next week now. FINRA if timing is good is a couple more weeks.
I might just throw one more 1K lots of shares at this. I got a feeling the can still come through. Hoping to score some shares in the .50 - .65 range. I think l can trade only in that case I'll buy the first lot .65, and any subsequent lots at a lower price. I might as well use this as a buy opportunity.
I don't think a lot of the NEWL longs appreciate the work your doing to undercover any information in this "blackout."
I'm glad your read that SEC filing and found that clause. At this point it a definite win against iron ridge. Not only that but we also have the collateral damage from all that selling.
I'm also a social media expert so if there's a connection I can find it. Anyone else wants to help find those name on the committee?
That dude is gone like the wind. The link is not disabled but deleted.... He definitely not part of the company.
The next question is... Who took over their roles or will be taking over. Will they settle in or out of court. Also the lawsuit includes the cost of taking them to court. Probably a clause Marc put in for himself. IR foot over the bill so the longer they delay the lawsuit the bigger their bill will be when they settle. Probably not a good idea for IR to try to drag out the process in court unless they want to foot out a some epic cash
You can't mess with techies. So iron ridge global took off "our team" off the site. Know how? I can confirm it.
Google : "Way back machine" this save a copy of every site in existence. They have a saveD snapshot of the site back in May 27 when our good friends were still on the site. Just copy and paste the iron ridge site into the address bar and enjoy.
Bon appetite longs :)
Obeop looks like you really found an elephant in the room when you found out about these directors leaving. I've got a ton theories l can't wait to write a but l got to teach kickboxing soon.
These guys have been working for iron ridge global for about 3 years. Suddenly they All just up and leave. Currently John C. Kirkland isn't listed as working anywhere at the moment. You don't leave a high ranking position just to try something new. They left to avoid any legal circumstances. ( well that speculation to be honest) possibly even sharing insider information with potential shorts. After all they knew Newl's financial position was near death.
We all know IR was up to no good and the last lawsuit was lost because the judge deemed he had no jurisdiction to do anything meaningful. This one they been caught red handed and NEWL managed to score a high profile lawyer on shares only. Lawyers don't do charity work. Marc j Ross is no rookie and knows he can win this. At the time they ( NEWL was 29c and declining) and the lawsuit was in excess of 125M so imagine that chump change to what IR will have to pay now the presplit price is barely 2c and they are listed to the Grey market. Ouch!
Newl has 2 more ships and enough money to keep going till the end of the year so any short term bankruptcy is off the table. If they win this lawsuit they would almost debt free. Imagine what that will do for shares price also china has yet to finish injecting 5 billion dollars into the Greek shipping business. Even a small a portion would help PPS.
Suddenly the shares are looking kind of cheap
I held for this reason. Like l said their either geniuses or totally incompetent. This isn't just simple manipulation. It seems like total corruption.
I just looked it up too. I posted a bunch of short cut in another post. Good work!!!!
Yep a exodus all this month. This is not just coincidental. Something is definitely up. IR just made a killing selling companies into the ground. You would think they have insane bonuses lined up for them.
Richard Kreger - Confirmed!!!Linked In show he moved to Source Capital Group as of July
Richard Kreger * Linked In
John C. Kirkland - Undecided but looks like he's gone. Linked in says until 2014 instead of present.
John C. Kirkland * Linked In
** make it hard to determine since this he did an interview June 26. So it'll be funny if he left already
Interviewed Live on The Big Biz Show About Micro-Cap Funds
Keith Coulston - Yep he gone as of this month
Keith Coulston * Linked In
Brendan T. O'Neil - Yep gone as of this month too.
Brendan T. O'Neil * Linked In
Awesome, where did you find the current list of employees. If they already bailed there won't be any legal consequences for what they did.
Here's to hoping we luck out.
Ironically that's exactly what happened to me. Back then l assumed good research skills but in reality it was beginners lucks. I scored an epic ~200% my first year hand picking tech stocks and playing options aggressively. Worked really well since l happened to make most of it in such a small time. Fast forward l took hit after hit after hit, playing high risk. Was hoping to emulated the same style of short squeeze chasing a "where's there smoke there fire" approach. I still think there an unholy amount manipulation in this stock. It's beyond anything l ever known, but my risk tolerance is still high and look where that gotten me. I not invested any more then l can handle about ~$2.5K but im not happy to lose any more cash.
As they say don't go chasing waterfalls, as that %3-7 l thought was too low is looking real good after a disaster year like this one.
Ces't la vie. I do appreciate being exchange with real investors on forums. I've learned so much in a little time. I've slowly moved more money into preparing for real estate and less to stocks. Retails typically lose.
That's why l want out. They can dilute any gains for immediate income while we sit here perpetually averaging down to make some sort of gain/lesser loss. Not a novice stock to make cash on.
I guess l needed to learn this stuff sooner or later. I lack the financial knowledge to properly read the state of the company; just enough to get a idea. Those convertible shares exist for one purpose only. Should this go up, l won't be shy to short any tops until l see some competence
( Sorry about all the grammar mistakes on my post. I just read it )
One of the unfortunate realities of learning to invest. I'm actually pretty novice and this strategy worked well for me on another stock last year. Apparently not this time. I'll take it as a lessoned learned and be careful going forward. I'm now taking my money much more serious and reading up.
This is good advice to go by and l hope other investors can take from it. It's easy to forget fundamentals when you lose focus. I had assumed i'll get to the party early for a quick rebound. I got in just before the last R/S and averaged down hoping for a small bounce. Basically throwing good money after bad.
I also neglected how incompetent management could be. There so much potential for this company to take off. They're staying alive but are taking investors to the cleaners. At first l thought each move was an act of genius. LOL! Now i'm very confused.
I agree. I think this stock got me emotional being trapped so high ( well, not too high. In the $6 - $8 range ). Just mind blowing to get caught in a downdraft of this calibre. I thought l could catch a "falling knife" and at the point of entry the damage downward.
Heck! I thought l got in at the bottom and when l started. I hope my recent posts are and the ~$20 price range comes true. It's definitely make this worthwhile financially. Mentally that's another story
Let's make some money!
Why bother charting this. It going to slide albiiet a bit slowly. Right now the price is being whipped around by flippers low bidding and selling at a profit.
Newl need to take their investor relations very seriously especially since they probably issue shares to back financing.
Seems nothing. They're covering their assets pretty good on the expense of our nerves
At least when we up list. The price won't be in the dump. Seems short ate covering on the Grey market
Still confused. Didn't NEWL get delisted off the Nasdaq at the moment? How is it trading on the Nasdaq or even has a quote there
Can anyone make sense of what l see on this page in plain English.
Also l thought there was no PM or AH on the greys. Not complaining since it 1.12 AH, but l'm pretty confused.
It happens quite a lot. Usually a lengthy process but it happens. Typically shareholder value gets wiped out.
If were the lucky ones that got in at the right time the restructuring will be profitable for us. Right now the luckiest are the one that bought in right after the R/S and some could argue right now.
Up list first then PR. What good is it when we're on a Grey market. Can this management be anymore incompetent. Geeeez! At least if we were on OTCQB it would run and squeeze. Here it go up for a bit and sell off then back to day to day declines.
But hey l could be wrong, and l hope l am
( disgruntled long )
What's this PR. Damn. Let see how much money l lose today.
I'm playing finally some great news. Hopefully we see no more then -5%, but hey... A green day would be way better
I understand that NEWL themselves cause this mess. I'm obviously more concerned with exiting with as little damage as possible. With the last ru halted it put many longs in a not very compromising position. Obvious sell at a total loss or see if the run has a chance to continue uninterrupted. Hence for the sake of momentum the more short positions to cover the better
Newl won't run on the grey's. All orders are matched so as long as there are low ballers pitching under the bid it can just sit low at this range. The only positive side is the longs are holding their shares for higher prices.
These damn flippers are making seems like the stock is still losing value. I guess that just how this game work :(
three vessels or two??? I only know of two vessels
That l csnt find. Could be a combination of uses as oppose to something specific. When it comes to shipping you fill the boat before you send it out; or at least ideally
Good research. This stuff reminds me of why l invested in new lead. Now to just see some basic progress. So many posts complaining the mines are abandoned but l know they plan to have a company operate the mine for royalties which explains why they seem abandoned. The equipment costs 10s of millions + labour. It a beginner mistake for those that don't understand mining. If the mine is already operating where will they store the coal? Why buy and operate the mine when you can have a third party do it for you for a royalty. Just not sure how the fee structure will work out which explains why they hired consultants ( very smart and cost effective ). They can just ship the mined coal and everyone is happy they provide the mine someone else brings the equipment. Mining industry are as much in a ditch as shippers. Someone will jump at the revenues, so it not a concern. Just when does this happen. Delays are natural but Damn I'm not going to be happy if im the investment that gets diluted to keep things going
It's been reverse spilt too many times. It's always ranged between $0 - ~$5
It's just aggressive traders flipping share between lows and highs. Unfortunately it's only bound to go lower. I doubt there be any bidding wars until this gets back on the OTCQB
Mines that are not producing anything will be closed down. It nothing special. The key is the mine currently being maintained. If not then we have a problem.
I know it's not going to just happen either but it does present potential for ROI and it one of the reason I'm willing to stick around. I'm not trying to day trade Newl but plant my feet and make a lot to play
I've invested into gold mines before. It not as simple of opening the mines and extracted revenues. It'll just burn cash if it's idle. Expect plenty of delays until the time is right and contracts are lined up.
Bankruptcy doesn't exist in those markets. The creditors have to work with the company.
They also managed through some irresponsible financing grab another two ships and potentially 2 coal mines. If this works out the upside will be insane. Not to mention the infusion of china's money into Greek shipping and the potential lawsuit with IR. The damages is so excessive they could pay nearly all of or more of their debt on a potential win.
I agree too. I just thought the switch would have happened at the 10c - 20c range. I was amazed they would just push their luck right down to > 0.01.
I actually thought nasdaq would step in and halt it but did the opposite. Halted it only on a small chance of recovery. I'm still interested in seeing how this issue with all the naked shorts will turn out.
It would seem you can only sell at a loss at this price because we're are under the 52 week low. Hopefully a quick recovery in price and some good PR especially on IR lawsuit.