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you should read the letter the NASDAQ sent to Newlead...it's quite the read..
I should find it and pin it but I think the pin about all of NEWL's ships being gone is more important
If Newlead had an unlimited Auth and never reverse split it would have...
14,588,325,734,850,000,000
14 Quintrillion shares
From 2010 to 2017
3,602,055,737*300*50*50*10*3*15*12
I mean you have to admire them...it may be historic
Are you certain he understands English?
I am not frustrated at Newlead..it's not like they try to hide their destructive practices towards shareholders. I only seek to inform others through Due Diligence.
The only part I am frustrated about is the inability to short it anymore, It was incredibly easy money shorting the pumps in the final months on the NASDAQ...
I suppose there is always a very remote chance it all turns around in some way but I highly doubt it with Zolotas at the helm.
It's possible....
Note that at current OS every .0001 tick upwards is representative of $360k in market cap..I would also assume the OS will balloon rapidly as soon as it had a bid again.
Far more likely it will reverse split or for NEWL to just outright fold then for another pump to occur.
We don't have the press releases to spark it or the "swept up in the craze" shipping sector pump to help it..last one was after the US elections.
20-F is not a magic bullet.
We know their ships are gone(?)
we know they will report a biggger loss then last 20-F
we know they lost in numerous legal actions.
What are we really looking for? How much in convertible debt they added/reduced? What they did with their coal operations?(lol)....
Zolotas has destroyed shareholder value for his entire tenure as CEO of NEWL...it goes way beyond the NASDAQ delisting.
Look for Newlead Nickle wire or the SEC inquiry into the way they paid for their office building in NY
Fun reads are the Ironridge v Newlead / Transasia v Newlead court transcripts to see how Newlead operates.
Only way NEWL gets out of no bid is through a reverse split..its evident after 8 months of no bid that there will be no pump and dump here...
it's not even that odd for NEWL to let their stock sit at no bid....they sat it at no bid in the GREY market for countless months before the 1:300RS which fell back to no bid....(lol)
Mining office contacts details have disappeared off their contact us page..
Always with the silent edits..
http://www.newleadholdings.com/contact-details.html
I don't know how long ago they took it off.
Remember this claim from the Transasia trial(which Transasia has now won btw)
"Defendants used public filings and press releases about the offtake coal contracts to entice investors to purchase and drive up the price of NewLead Holdings' shares. They then issued millions of shares of NewLead Holdings stock to themselves as salary and bonuses, and to companies owned by them, their family members, and their close associates, who were disguised as 'consultants' and 'vendors.' Defendants then lined their own pockets by selling the shares at inflated prices to the unsuspecting stock buying public, who relied on the company's deceptive press releases touting their supposedly successful entry into the coal mining business."
Careful!
No communication from company
Over 3 Billion shares outstanding
Over 50 billion authorized
No ships(?)
lawsuits
Massive convertibles
Massive debt
unprofitably
I could go on..
careful!
Newlead losing in more court cases..
This one from DHL Project v Newlead Holdings
https://casetext.com/case/dhl-project-v-newlead-holdings-ltd-2
btw: The IR contact on NEWL's OTC market profile no longer works for Newlead...
Ended employment in Dec 2016.
No wonder emails are not getting answers
long way to go..
NEWL has traded 600M+ in a day and barely moved .0001
Probably the OS was lower then as well..
careful
Did NEWL even sell anything. If you look at TVOG's website(http://bitumentankers.com/) you can see the pictures of the Bitumen tankers..you can see both the Sofia and Ioli...
now..if you go to the post I have pinned at the top of the forum..
US-based business lender TCA Global has seized the 2,900-dwt Sofia (built 2008), which remains moored off Malta and is also awaiting sale. National Bank of Greece holds the lien on the 3,370-dwt Ioli (built 2009), which remains moored at Drammen harbour in Norway.
~25M shares at .0001 is only $2500
40mil is only 20k at those prices...
not much compared to notes outstanding to be converted..
Not much vol since it went no bid..
20-F should shed some new light...
remember NEWL's "excuse" for delaying 20-F is
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.
No idea, they had a ton of it on their last 20-F though.
(all numbers x1000)
For the year ended December 31, 2015, the Company’s loss from continuing operations was $40,633. As of December 31, 2015, the Company’s cash and cash equivalents were $722 and the Company had current liabilities of $291,035, including $167,617 of debt, lease obligations and convertible notes in default due on demand, payable within the next twelve months.
Good point, NEWL OS was increasing so rapidly month after month and then paused when it went no bid...
seems odd no reverse split for so long....
but then again NEWL left their stock on the grey market for many months after their de-listing before bothering to move out of it
very slow..
Shares outstanding in NEWL have been the same since Jan 30th..no dilution.
Authorized has only headed upwards, it was raised by billions last time they tinkered with it.
Remember: Reverse splits do not affect the number of authorized shares.
Their TA won't disclose SS on demand and OTC markets has not updated the OS count for June yet..
careful
They filed 6-K for annual meeting in 2015 but did not for 2016...
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11085924
^^2015
Note that NEWL(per their last 20-F) is a Bermudan registered company.
Investors may have more difficulty in protecting their interests in the face of actions by management, directors or controlling shareholders than would shareholders of a corporation incorporated in a United States jurisdiction.
Under Bermuda law, a director generally owes a fiduciary duty only to the company, not to the company’s shareholders. Our shareholders may not have a direct cause of action against our directors. In addition, Bermuda law does not provide mechanism for shareholders to bring a class action lawsuit.
^^From NEWL's last 20-F.
NEWL has reverse split 7 times in the past 10 years.
No bid for upwards of 7 months now..
20-F delayed
Stop sign on OTC markets
careful
I think the stop sign on OTC Markets means we won't get the regular(monthly) updates on shares outstanding anymore..
careful..
You could always try to email/call their TA if you really wanted to know I guess.
Where is the Reverse Split??
What company leaves their stock no bid for upwards of 6 months
Look at NEWL's shares outstanding and then go multiply that number by all their previous R/S to see how much NEWL "cares" about shareholders.
NEWL is a share printing machine in every way...it's actually probably historical.
Shares outstanding update soon...
within the next day or so basing off previous months.
I see TVOG's PR about the Bitumen Tankers but I don't see the connection to NEWLF anywhere..
Where did you find the link?
NEWL has a Stop Sign on OTC Markets now..
This is new..
Warning! This company may not be making material information publicly available
https://www.otcmarkets.com/stock/NEWLF/quote
Wait for 20-F to come out...
If last year is a guide it will be either this week or next week.
More details then.
Transasia already won..now they are arguing about the amount owed to them.
NEWLF OTC Markets profile updated:
Lots of sections are not available now
Company Officers/Contacts
Michail S. Zolotas CEO, President
Eleftheria Savvidaki Corporate Secretary, Securities Counsel
Company Directors
Michail S. Zolotas Chairman
Samuel Gulko Independent Director, Audit Committee Member, Compensation Committee Member, Nominating Committee Member
Service Providers
Accounting/Auditing Firm
Not Available
Securities Counsel
Not Available
Investor Relations Firm
Not Available
TransAsia Commodities has hiked its claims against NewLead Holdings to $22m during a trial in New York.
The Serge Turko-led commodities trader's request before a special referee appointed by the New York Supreme Court includes punitive damages, sanctions and interest, the company says.
TradeWinds previously reported that TransAsia was pursuing some $10m in its long-running dispute over allegations that NewLead's coal mining joint venture sold it coal that it did not have from mines that it did not own.
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.
And TransAsia says that NewLead's counterclaims against the trading company, which went into administration, were withdrawn "long after the damage had been inflicted".
The damages trial follows a January decision by Judge Charles Ramos that awarded a judgment to TransAsia as a sanction after TransAsia's complaint that the company and former chief executive Michael Zolotas failed to comply with court orders.
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.
TransAsia's attorney Eric Freed of Cozen O'Connor laid out the damages request over the course of two days of hearings that concluded this week, TransAsia said in a statement.
No NewLead appearance
It was a one-sided trial. NewLead, which has previously disputed that the plaintiff suffered damages in the case, did not appear in the case.
Also targeted in the case are Zolotas, mining joint venture NewLead JMEG, and former chief executive and 50% owner Jan Berkowitz.
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.
0 vol today
NEWL released their last 20-F on May 26th 2016.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11410567
3,602,055,737 shares outstanding a/o May 1st 2017.
Another month of no change to outstanding share count.
20-F to be delayed
Also,
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.
None of this is a surprise, Newlead took down their fleet portion of their website 1+ month ago..
Also if you follow the Transasia v Newlead proceedings Newlead apparently couldn't even afford to pay for their lawyer
wow you would think all these ship auctions would warrant a 6-k or PR from newlead..guess not..
Austbulk buys up final NewLead bulker
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.
The ship, which is due for special survey, has gone to little-known Malaysian owner Austbulk Shipping for just $5m. VesselsValue estimates the ship to be worth $7.7m.
The vessel was arrested in November over unpaid bills for spares and provisions, while the onboard crew was owed $220,000 in wages. The NewLead Victoria was mortgaged to Germany’s Portigon, which was owed $24m on the ship.
In March 2005, NewLead paid a Japanese owner $49.5m for the vessel — then named Santa Vitoria. Last month, Greek owner Goldenport Holdings made an offer of just $3.5m for the vessel at an auction supervised by the Malaysian Admiralty Court. Portigon reportedly was dissatisfied with the original bids received and sought a higher price. The bank is still involved in a lawsuit with the NewLead Victoria's crew over unpaid wages.
NewLead also had four small bitumen carriers. The 5,800-dwt NewLead Granadino (built 2009), which was arrested by France's Natixis, has since been sold to Greece's Alberti Marine for $2.85m. Eurotankers is the management company for Alberti Marine.
Natixis also has control of the 3,400-dwt Nepheli (built 2009), which is moored in Piraeus and awaiting sale.
US-based business lender TCA Global has seized the 2,900-dwt Sofia (built 2008), which remains moored off Malta and is also awaiting sale. National Bank of Greece holds the lien on the 3,370-dwt Ioli (built 2009), which remains moored at Drammen harbour in Norway.
In October last year, Michael Zolotas resigned as company president, chief executive and board chairman because of a row with Cypriot authorities over an alleged role in a bank failure. All three posts were filled by his cousin, Anna Zolota.
NewLead subsequently filed a notice with US financial regulators that Zolotas was back as chairman and chief executive "following... a strictly personal legal matter, which is wholly unrelated to NewLead and its operations".
wish you luck.
The last pop in NEWLF was on the wave of the shipping sector rally after the election.
Quickly went to no bid afterwards and sat there for 5 months now..
A very good chance of a pop soon indeed.
If "pop" means yet another reverse split.
NEWLF no bid since December 2016...
50B shares authorized ..
Six seafarers that have spent the past eight months aboard a stranded bitumen tanker formerly owned by NewLead Holdings will be repatriated following an auction of the ship.
The 5,900-dwt Newlead Granadino (built 2009) was auctioned at a federal court in Baltimore at the request of French bank Natixis, which held the mortgage on the vessel and had it arrested this February over NewLead's unpaid debt.
Natixis was the sole bidder at the auction, using the amount owed on the ship to make a “credit bid”. No response from Natixis was immediately available with regard to what it will do with the ship.
The ship’s oiler, who came on board last August, said the engine was much more poorly maintained than other ships he served on.
“The exhaust would be cherry red,” the oiler said. “It was not a well-maintained ship.”
The oiler said he also served aboard another NewLead vessel, the 76,000-dwt Newlead Victoria (built 2002), about five years ago. He said wages were delayed for months at a time back then as well.