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Unless they file the 20-F or a PR to show some sign of life I don't see this getting off no bid anytime soon..
At least they have not reverse split it yet and the OS has not increased for a long time......
A few of the shippers got going but NEWL is just dead...nothing going on..
Is NEWL even considered a shipping company anymore..
who knows...company certainly won't tell us...
I guess the next update will be any further updates with the court docs in the Transasia case...whenever that gets resolved...
I will say something bullish for once for NEWL....
It past times of market turmoil the shipping sector seems to be massively pumped and dumped....
Maybe its not the same this time around...NEWL is in a much worse market tier and position..
But it can't get much worse then no bid .0001 ask lol.
NEWL's only mention of the Transasia suit is in the 20-F with this gem...
Transasia demanded for the alleged breach of the CPA the approximate amount of $6.5 million. Up to this date, Transasia's claim has not been presented with much clarity and in terms of liability; it is questionable whether the loss can be quantified. Currently, there are ongoing discussions for settlement . We do not anticipate any amount in excess of the amount accrued, to be material to the financial statements, for possible loss related to this claim.
Aside from that it seems Newlead doesn't care about their stock..not even some fluff PR's to try to pump the stock price...
No dilution for countless months which is highly abnormal for NEWL.
No reverse split....
According to their Linkedin 32 people still work at this company and I presume they are still being paid...
what are they doing...
who knows!
Days since nt 20-F: 98 Days
Days since last Press Release: 287 Days
Read:
May 9, 2017 Transcript of the damages trial before special referee Jermey Feinberg
Doc #662
It's no joke.
If Transasia will be able to collect anything from Newlead/Berkowitz/Newlead JMEG/ Zolotas is a whole other matter....
The case has been ongoing for 4 years. For most of those 4 years Newlead had legal representation...
Probably. I wonder what little is left of Newleads assets there is to actually seize in the event of any award....
The case is not just against Newlead...it's against Zolotas, Berkowitz and Newlead JMEG as well..
looks like it. Newlead should have settled this years ago when Transasia wanted much less $
Lots of new court docs posted yesterday in the Transasia case regarding damages...
looks like this is headed towards a conclusion soon....
For the foregoing reasons, TransAsia respectfully requests that the Court award it:
Compensatory and consequential damages in the amount of $7,857,066 plus 9%
statutory interest;
Punitive damages in the amount of $10,000,000;
Reasonable attorney’s fees and costs in the amount of $1,694,368.56; and
Such other and further relief as this Court deems just and proper.
~ 7.3 Billion
was reduced down to 24m post RS and is now back at .... 3.6 Billion
!!
Why wouldn't NEWL file their 20-F.
A. They can't afford the cost of keeping regular SEC Filings
or
B. They don't want investors to know anything about them(??)
tick tock.
$1 of volume today..
impressive
Today was the date of a court appearance in the Transasia case....
we will see if Scrolls updates anything of importance in the next day..
Reminder:
TransAsia Commodities has hiked its claims against NewLead Holdings to $22m during a trial in New York.
The company has long alleged that NewLead's contentions that it controlled US coal mines were part of a "pump and dump scheme" designed to inflate the company's share price, which was listed on the Nasdaq stock exchange at the time. The Greek shipowner, which could not be reached for comment, has denied this charge.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131314805
Attempting to value $4,000-$4.1m of nickel wire at $236m at one point...
goood times.
quite the opposite. I've been a bear on Newlead dating back years when it was a prime shorting target.
I stay interested just for amusement at how bad Zolotas can drive it into the ground over and over again.
quite fun.
So little news we have gotten from NEWL over the past year..
Some nonsense about Zolotas stepping down and then resuming his role..
A bunch of SC 13G filings...
A notification of filing their 20-F late and then missing that deadline spectacularly..
Last actual PR about the company was in regards to Bitumen tankers(that they apparently no longer own) back in July of 2016..
Awesome transparency when your investors have to dig through shipping industry articles to figure out basically anything about this company....like I have done.
I'm pretty surprised at the number of .0002 hits lately..
seems like a pump and dump attempt that can't quite get going.
This company is a complete blackhole on news right now with no 20-F or press releases for a loooong time.
Will NEWL file their 20-F anytime soon?
It's only been a mere 75 days since their NT 20-F
7% of float is short?
Short Selling Data
Short Interest 0 (-100%)
Jan 13, 2017
Significant Failures to Deliver: No
What would have been the point in shorting what has been a no bid stock for the past 8 months.
Not short NEWLF and I was actually being quite kind to Newlead with that post believe it or not.
I didn't include..
The Nickle Wire "incident"
The state of their balance sheet
NEWL's willingness to deal with toxic financiers in the past...
Due Diligence requires all to be known about a company so investors can make the best possible decisions regarding their money.
At the end of the day this is a .0001 stock that can be moved up on minimal amounts of money, the fundamentals don't really matter but they should be out there.
Newlead Due Diligence Package
Not current with their filings
NT-20F filed May 2nd
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12034334
Legal Litigation
Transasia v Newlead
TransAsia Commodities has hiked its claims against NewLead Holdings to $22m during a trial in New York.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=131314805
All Ships have been Seized/Auctioned
The fleet of collapsed US-listed owner NewLead Holdings is in the process of being sold off, with its remaining bulker — the Tsuneishi-built, 75,000-dwt NewLead Victoria (built 2002) — auctioned in Malaysia.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130872192
Unprofitable Operations
The Registrant expects to report net loss before preferred dividends for the year ended December 31, 2016 higher than net loss before preferred dividends for the same period in 2015. The expected net loss is subject to change as the Registrant is still in process of completing its annual financial statements.
http://ih.advfn.com/p.php?pid=nmona&article=74482111
Questionable History With Investors
As part of the $6.2m court fight, TransAsia used a subpoena to obtain the June letter from Nasdaq, which was not made public until now, explaining why NewLead was to be delisted from the exchange.
In the letter, Nasdaq’s senior director for listing qualifications, Stanley Higgins, wrote that NewLead’s disclosure practice “harms current and prospective investors, depriving them of information required to make meaningful and informed investment decisions, and also impugns the integrity of the market to the detriment of all market participants”.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132547689
50 Billion Shares Authorized
Chronic History Of Reverse Splits
Capital Change=shs decreased by 1 for 12 split. Ex-date=08/03/2010
Capital Change=shs decreased by 1 for 15 split Ex-date=10/17/2013.
Capital Change=shs decreased by 1 for 3 split Ex-date=12/06/2013.
Capital Change=shs decreased by 1 for 10 split Ex-date=03/06/2014.
Capital Change=shs decreased by 1 for 50 split Ex-date=05/15/2014.
Capital Change=shs decreased by 1 for 50 split Ex-date=07/15/2014.
Capital Change=shs decreased by 1 for 300 split. Pay date=03/04/2016.
Coal Operations "For Sale"
The Company’s coal operations are currently available for immediate sale in their present condition subject only to terms that are usual and customary for sales of such operations. The Company is currently in negotiations to sell all of its coal operations with an identified buyer and the Company believes it is currently probable that it will complete the sale of its coal operations prior to the end of 2016.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11410567
Would Finra even approve a Reverse split while NEWL is not current with their filings (no 20-F...)
Days between last two reverse splits: 598 days
Current gap between last reverse split and now: 496 days
careful!
Next update in the Transasia case looks to be around the 26th of July.
Smart, there is a reason this stock trades at no bid for almost a year.
NEWL can't be bothered to even file a 20-F..lolol
!
Court docs in Transasia case updated today.
Mainly in regards to declassification of documents.
0 vol
no bid
careful!
64 days since NT-20F filed.
Take your time NEWL
Maybe..Transasia was asking for 6.2M back in 2015...now its up to 20M+ lol.
This case has dragged on forever...from Jan 2014 to July 2017 and still no decision on how much will be awarded..
Judge last ruled in April...
Almost through...should know "soon"..
We are not going to know but..
The judgment, however, left the question of how much money to award UK-based TransAsia to special referee Jeremy Feinberg, who now will take his recommendations to the judge.
A damages award is expected to set up a hunt for NewLead assets to seize, though that will be complicated by the fact that the Athens-based company's ships have all been auctioned off or taken over by lenders.
Transasia is asking for over $22million....gooood luck finding 22m of NEWL assets to sieze
I think NEWL is just done period.
They missed filing a report of their annual meeting
They missed the 15 day window after their nt 20-F
All ships are presumably gone
Lawsuits against them in the tens of millions $$ (which btw in the last 20-F NEWL assured shareholders those lawsuits were no big deal!)
Quickly approaching a year straight of no bid..lol
Honestly the only hope this company ever had was when Zolotas had to step down a few months ago..
To bad he is back as CEO..
Don't forget their "entrance into the coal market" one for the ages.
NASDAQ did probe them and immediately booted them when they looked at how they ran their operations.
As part of the $6.2m court fight, TransAsia used a subpoena to obtain the June letter from Nasdaq, which was not made public until now, explaining why NewLead was to be delisted from the exchange.
In the letter, Nasdaq’s senior director for listing qualifications, Stanley Higgins, wrote that NewLead’s disclosure practice “harms current and prospective investors, depriving them of information required to make meaningful and informed investment decisions, and also impugns the integrity of the market to the detriment of all market participants”.
http://www.tradewindsnews.com/weekly/357287/allegations-from-nasdaq-shine-new-light-on-newlead-delisting
The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date;
56 days since NT 20-F was filed..lol
Why so confident they will file the 20-F? Personally I have always thought they would file it since they have done so in the past...but now...not so much.
They never bothered filing a report on their annual meeting
The 20-F was supposed to come out in late may...we are about to enter July..
Maybe they are content with going dark to investors...the press releases are non existent...you would think losing all your ships would trigger some kind of communication to your investors guess not..or leaving your stock at no bid for 7-8 months would trigger yet another reverse split..lol
I have followed NEWL for many years and currently this is as bad as it ever has been..
All ships are apparently gone.
see:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=130872192
3 billion shares outstanding 50 billion authorized
under multiple lawsuits
no communication from company for some time.
careful!
51 days since nt 20-F filed.
tick tock
I've followed numerous "Fallen angels" from Big boards to the dredges of the OTC..almost all are the same..decimated share prices, mass dilution, inept management, toxic financing....
None of them make it back on to the big boards(From what I've seen)...most just go lights out.
I'm not sure if Newlead really has any redeemable value...I mean the Transasia lawsuit alone is like 20-100x the market cap of this company currently...lol..
waiting for that eventual 20-F...
I find it particularly curious why Newlead didn't file a report of their annual meeting a few months back..
It's like they have forgotten they need to inform shareholders what exactly is going on..