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Why on earth is this trading 1.2M. I'm not trading anymore but coming back to see that kind of number worries me
Never mind. I sold at a hefty loss, i'm gone from this nightmare!
GLTA!!
If it fills it fills. The trades that are going through are 1000 & 5000. So l am kind of sitting here with an odd number of shares to sell.
Would love to sell but my order has been waiting to be filled. I'm sure some retails are just trapped.
There should be at least a SEC filing considering some has more then 50% shares outstanding in the last 10 days. Not sure how long since big institutions typically have more time file.
Hopefully that was a misprint for 13M shares.
What kind of agreement allows a company to dilute it shares on the weekly to the tune of 27M shares since the last reverse spilt. I could handle a couple 100k each 6k, but it now a write off. It be 100M+ by next month with another possible reverse spilt the following
Now that the price is lower they probably have to issue more shares. This could be a cascading effect.
33 O/S.
I'm throwing in the towel. This is out of just out of control.
All those trades at the end of the day to make sure it closes down. Someone is trying to bake the charts. There is yet to be any news to dictate a sell off or rally. At this price and lower it time to start promoting a "speculative" buy if you have some monopoly money available.
This is the most sloppy and strangest selling patterns I've ever seen. As if any one is over leverage on margin on NEWL and has to sell?!?!
I've been frequenting the NEWL board and most of us over there are wondering what the hell is going on. Apparently John C. Kirkland tried to force funding onto NEWL in there last 6-K Filing and NEWL rejected it. I imagine he's still there managing operations on some level, but he's definitely low key. Thanks for the link to the article tough
No im pretty sure that they sold off their shares and now own from <5% to zero shares. Not sure what to make of this. Is it good news, bad news, who cares?!?!?!
I'm just not sure
CEO of the year of a company that had all it directors leave the same month. You can't make this stuff up. Well at least we know it easy to buy sources. AND yet again another word press site. Seems these guys all used the same developer. Sigh!
If you want to read the "publication" check out page 64
http://headley.co.uk/headturner/FMCEO2014
Also check out finance monthly disclaimer. Basically :
"we post whatever the author gives"
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It looks like we hit bottom. At this point we need some really bad news to go any lower outside from some people grabbing shares cheap. Always seems to pop back to 40c no matte how high or low it goes. I
've already bought a couple extra shares at these low price. might grab some more next paycheck
Would like to talk to you guys in this forum about a couple of things l looking into.
So l would like to know if Iron Ridge employs any employees outside of the 4 director that pretty much left. Not even a secretary?!?!
If you go to the Iron ridge site their contact form is to a generic email script. In fact the whole site is done in wordpress. It's a vanilla template that could be bought or downloaded for free. I wouldn't doubt they paid someone to modify it though; which is fair.
So what the heck is Ironridge, and just a shell company.
I'm also concerned about the staff list of iron ridge. Seems to me it just a shell company.
Lol same here, bought a couple more. the Down side seems to be pivoting around 40c. Someone is losing money selling under 40c and it seems the range is pretty tight. We're actually seeing red/green days and closes.
I'm going to bet on my DD and a bit of luck. There are 3 catalyst, and possibly an extra 2 that are wishful thinking, that could sky rocket the price from these lows.
Even the idea of another reverse split from this low is more foolish then some longs view. Maybe at that point we could all share the same share and watch the one naked short decimate it. Lol.
Lol! After investing in NEWL you would dare investing in another falling knife. The dilutions will keep coming until they can properly finance themselves.
Sometimes it's round after, round after, round after on new investors sometimes for years.
I while ago l check the background on that case. Iron Ridge actually didn't do anything wrong as far as contractual agreements. Seems SVFC signed themselves away and then realized what was really going on, and wanted to counter.
Iron Ridge did breach the contract with NEWL but we'll have to wait until arbitration to see if any heads truly roll. There are many ways for Iron Ridge to get away scratch free. If convicted there's also how much they will get in damages. Could be a little or a lot or hopefully a lot more. Not to mention a damn jurisdiction that will have some conviction for what happened.
I might buy 1K shares if l can get some money out from other stocks. I'm liking what l see, and I've been very pessimistic as of late.
Nice way to end a crappy Monday. Seems they are taking that lawsuit very seriously.
Both sides have been very formal in the whole process. For a while there l thought Newl had just given up. This lawsuit could be the miracle previous longs need to recoup some of their money back
Interesting where did you find this???
I'm hoping. Anyone find anything new about the china injecting money into Greece shipping. Seems generic, hopefully NEWL might get a decent chance to refinance their debt.
I think a common sense question to ask is?
Is source capital short on Newl. That's would be a simple place to examine...
I wrote this off as a lottery play. Lots of upside catalyst but it easy to get caught in the greed. This is also very messy stock and everyone is on egde. The short squeeze seems unlikely now. I can imagine the unusually high volume is short covering from shares issued to iron ridge. 400k daily on a Grey market stock is typically unheard of
Or maybe these guys party together. the signing of the closing of the contract was pretty casual.
I've seen it too many time with closer friends meet these new people that seem awesome and are "genuine." Some are but there are those times when it come to money there are sharks in the water.
I wouldn't put it past any of them. I'm still not sure about NEWL or what they are about. The contract was absolute stupidity.
I agree. I ended up here when l got a tip from a buddy about a potential reversal in NEWL. I did a half ass job and just took a look the the chart. I trader Newl successful. Probably out of dumb luck on the previous spikes.
Even though l wrote off the shares this has started to become a bit of a hobby. I think my ego would not let me lose but curiosity has me intrigued. This is better then any book or tv show. I want to get to the bottom of this.
As they say don't go caring waterfalls. Unless your a thrill seeker ;)
No wonder the judge couldn't do anything. NEWL is registered in Bermuda and Iron Ridge Global is registered in the British Virgin Islands. The New York office is just a satellite office. I couldn't make this stuff up even if l tried.
Probably make sense if they left too. It not even an american company. My heads is hurting trying to wrap myself around it.
I think your trying to vindicate IronRidge. Before the trial even started. l could side with Iron Ridge, and you would be correct in that assumption. NEWL was up to no good financing with the like of them, and they choose to knowing shareholders would get damaged/destroyed. It was total incompetence, a few clauses could have save shareholders.
Post trial. Now that's a different story. Let's face it we've come to see Ironridge and how they operate. Most time they take shares as collateral convert them sell at market and tank the company. Many times the company is so devastated they don't follow through with the loan, and Iron Rigde walks away with quite literally free money. A simple Google search will prove this, l actually didn't have to dig too deep to find the real gritty dirt.
There are two evils here. Both Iron Ridge and NEWL. I voting NEWL because they can help me exit out of this mess if they win. So i'm keeping focused on Iron Ridge.
It's not really news that NEWL actually trades no more then $5. I was going to cash out but the charts looked great that day and l knew l could break even next day. What happened after blew my mind. Transcript also says Adjusting for stock splits which is not lying; not the $146.50 as you stated.
Keeping the eye on the prize im not defending NEWL, im making a case for a potential catalyst to make my money back. I'm gone afterwards. I'm not trying to be a hero for the masses, but our communal work is making it easier figure out if this is a total write off. Should just sell at $0.55c or $55, that's why im here.
I'm mulling it over quickly. I might actually dig in with some other members when l get a chance. After reading this and comparing it with articles it easy to see why there so much misinformation out there; from both sides of the coin
ALSOOOOOOOOOO!!!!! This is also from the transcript. Probably why the charge for damages is so high. This story just gets weirder. THe more l dig in.
You took the quote from the article not the actual transcript. Careful about what you read when it summarized.
I'm sure most of us was hoping to catch the bottom bounce. To make it worst l came in with no stops. It is an eye opener that stock can have no bottom. I doubt we'll see any more R/S in fact it's possible a forward spilt if it recovers. There are too few shares. Hopefully that was done on purpose.
I think they're naive. Seems to take other affiliates for there word.
I'm sure the term crossed there head. "What's the worst that can happen"
No one said that Newl is a scam. Your kind of jumping the gun. What fthey did was bad. True iron ridge is taking it to a whole other levels. Newl is trying to stabilize and these companies take advantage of companies In this position. Incompetence yes. Im not quite convince it a scam.
There is quite a big difference between incompetence and scam. We're all losing money nit one investor has a gain to gloat about and there are no short shares available so there are only a couple retails that managed to make money. The rest are liars.
The preferred shares are obviously structured for financing which is bothersome. I can expect more dilutions. As the only companies that will take advantage are toxic financier like iron ridge.
What also is bothersome is the price when it hit Grey market was based on the closing price not the pre market price. I've never seen that before. As if those buyers shares value was invalidated. Every halt I've seen this far. Restarted at the last price. Doesn't matter if premarket or after hours.
Seems there also the possibility that Newl got itself caught in a scam because it goes well beyond this company. This is easily the strangest stock and series of events I've ever seen. The more you dig in the weirder it gets
Iron ridge started dumping shares like crazy diluting the price beyond recovery. As the buying spikes were quickly crushed by huge sell lots.
At the time they didn't have proof, and l can understand that sediment. A judge csnt could convict on speculation, but it not exactly the case this time. I will admit it yet to be proved so this is yet again speculation but IR did breach the contract on multiple points. They exercised self help when they were not suppose to and they caused NEWL to be deleted / delisted. Just check out the latest 6-k.
At least we know they have the money to pay up.
Newl is a horrible company to invest in but there is yet another chance for the longs to make back some money. That's where my focus stands
We will have to wait and see what happens next. For now im going to keep busy trading the indexes. Less nonsense.
Technically we the shareholders are paying the price. NEWl lost it ability to dilute the stock themselves. Which would have been far more easier to handle in hindsight.
Just can't catch a break. If Iron Ridge can still collect shares. We maybe screwed. I thought they were out of the picture.
So how many shares is Ironrigde still entitled to?
Seems near infinite. SEC obviously can't be bothered to do their job. Ironridge could potentially force this stock off the market, which l can imagine they are gunning to do.