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Well yeah I mean having this thing not trade for years is proof of a scam. But we legally own an entity that just got a cannabis license and trades now (sannabis). Is he going to bring this back online or do we have to sue to get the shares that are rightfully ours?
Why haven't we been given sannabis shares yet?
Old article said we would be:
About New Colombia Resources, Inc.
New Colombia Resources Inc. (NCR) was previously a publicly traded company under the symbol NEWC. Due to unexpected auditor delays, they were unable to file timely financial statements so they decided to accept revocation of their shares to file a new Form 10 Registration Statement for these shares. A reputable law firm was engaged to file a new Form 10 to register existing shares owned when they ceased trading. NCR expects to be able to file the registration statement in the very near future or merge with an existing publicly traded company and distribute those shares to their existing shareholders. NCR's shares in View Systems, Inc. will be an asset of NCR. In addition to medical marijuana, NCR, has significant interest in high quality metallurgical coal properties that are expected to be in production soon. Inquiries about NCR should be directed to +1-410-236-8200 or jcampo@newcolombiaresources.com.
If he were to ipo sannabis, he has two options, it remains a subsidiary of newc or he spins it off and gives us the shares (and himself). its kinda a d**k move to keep it a subsidary considering newc is completely illiquid.
Hi, was checking in to see whether to use shares as tax loss or not.
We still own the company even though the shares don't trade, we own shares in a private company and therefore we own it's stake in sannabis.
We should be given shares in any sannabis IPO without paying. Please pass on info or have him transfer as a spin off onto our brokerage.
This is the first penny stock I've owned, but man is this thing complicated. Is he filing paperwork /is he not, does he still own shares/ does he not. Does rentaria still own shares?
I do believe in Colombian weed, but I put more in the competitor (private). Been reducing this position, but to keep or close?
Does anyone have a picture of the edgar rentaria ad that is mentioned as in USA today?
No volume today?
What's the name of this company?
Ok, so my thing is this. Jc has given us very little to go off of. If this is just a case of he was finishing the fins and sec suspended early, then he should send us the fins. We just have to wait an unknown amt of time based on good faith otherwise? Also sannabis during the suspension seems to have moved to private sales. And investors relation page is down. So I'm just supposed to sit and wait? I thought this might be the work of short sellers, but is he saying no? There is a chance that jc is legit and this company will reemerge but I need more than his word.
The sec is horrible whether they are criminal or complicit. Whether or not short sellers are involved this course of action is terrible. I don't see how taking us off a modern electronic trading system, to the wild West of market makers that is the grey market helps. The price can triple halve, someone can sell for double at same time as you, grey market is asking for criminal activity.
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.
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.
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.
Who's this Scottsdale? And what's significance of 25k, 25k at what price?
I think it's short covering, jc if he knows he's got legit plan, people who target a bunch of grey stocks and pool to get the ones that comes online, I've heard some companies do this in India (us also?)... You look at some companies in bankruptcy and after a year there are still some trades
I'm not aware of any promoting of the mine, I think he goes straight to us media, there's far more investment money there.
I found this company bc I was looking to invest in Colombian weed, I invested in the biggest one at first and skipped newc bc I was skeptical of coal and penny stocks. Saw sannabis in Bogota paper article, then read sannabis spin off on Google. Bought newc, tried sannabis, liked it, bought more. Now with this suspension and revoke, I'm thinking I should stick with the big player (pharmacielo).
I don't see what this post has to do with my post. My post says the sec should have either suspended them when the auditor quit or given then another shot on 9/22. If you're saying the sec should've suspended them in 2012, ok...
If your saying I shouldn't have bought it bc some vague connection of vsus to Bridgewater (which is also the name of a major hedge fund) before newc existed, 5 years ago? Then that's ridiculous. I'm a weed investor living in Colombia, I use sannabis and like it, so it's absurd that you are saying it's made up. I simply wanted sannabis spin off shares.
If your so pro suspension, then you should agree the sec should have suspended after the last auditor quit. It was clear at that time that fins were going to take longer to start with a new auditor. Jc said our record keeping has not been up to par and we will work to improve with new auditor. Sec should either suspend at that point or give another shot.
It's just cruel to suspend before the 9/22 deadline everyone is waiting for. If sec provided a time before then it should be posted to Edgar.
Finally, it's difficult to verify the mine, but sannabis is good. I was high as hell yesterday on sannabis to dull my anger.
I'm luckily up 35% ytd on my portfolio, so I can luckily absorb 20k loss and still be up like 31%. But I'd rather not lose it, you never know when market will Plummet, and I'm sure some others aren't so lucky
The sec action is completely unhelpful to anyone. I don't think any one holding the stock long or thinking about buying the stock was happy about the suspension. Those holding the stock wanted to see if he met the 9/22 promise, those wanting to buy wanted to bet on it.
Anyone who has owned the stock at any point delinquent can stop talking bc there was nothing different about now and whatever time period you held. When I bought a month ago he said sannabis spin off, China mine sales (even if from third party), and then said would file 9/22. So I figured I'd give him until exactly 9/22 to provide. The sec could've suspended when his auditor quit but they didn't, he answered them, and said 9/22 you'll have them. If they wanted to help investors, they would help entice him to file on that date audited financial, not entice him to not file and revoke the company. They could have said 9/22 or we suspend trading. The only way it makes sense to suspend now is if they had info we did not, but if they do they should provide that info. Otherwise a rational regular would give 10 more days
Only pennies, no one holding amzn needs to know form 211. The CEOs debatable.
No body except professional penny traders know what a form 211 is.
So this boils down to what?
Grey until December then otc? No fins until 9/30?
So in this case it appears they were revoked a year after suspension due to non response. They were not defending themselves. The ihub page only has 44 entries.
So in the case we get a miracle of full financials, there is no precedent. There is no case to compare
Yes, that was peak price they got a credit line and it went up 500%... It's like grading newc from .05... But none the less investors stayed skeptical....
I'd like to see a case suspended for deliquency, where the suspended company provided full audited fins in the 10 days. I bet most never do, do it's prob rare, what's outcome in that case
Well I'm sitting here going through hundreds of filings now but I was just looking for a revoke date.
So what you are saying is during the year they were in grey they filed this s1 form therefore must've been revoked? And s1 wouldn't be used otherwise? But bc it kept trading grey then otc this was seem less to shareholders. See link below it says trading resumed on OTC during a period Renee says the s1 was still pending.
http://www.denverpost.com/2015/04/29/advanced-cannabis-solutions-stock-resumes-trading/
I just went back to your replies there was no link.
Cann was suspended for lack of current info and insider trade both. Newcs lack of current info only is easier to correct, they just release fins. Cann had to find who traded and start a lawsuit demanding shares back
Cann never stopped trading, it was on grey for some time. What date do you have it as revoked bc it trades since 2015 otc
We already saw cann also
The sec suspension really means nothing in terms of the company itself. They didn't suspend it for fraud or insider trading, they suspended it for delinquency of financials (as far as I know). We all knew the financials were delinquent. The sec telling us that is not new.
Now if there's two equal investment opportunity, one in grey market, one on nyse, I'm going with nyse. So obviously there is an impact here on liquidity.
I bought in a month ago on sannabis spin off and hoped for financials and mine profit also. The investment until here has been horrible. But if he said spin off intact, financials updated, no debt, then I'd hold. If we don't get fins I sell but this sell isn't bc of sec. I mean I hold private companies with no liquidity yet also.
Why was car visit cancelled? Hurricanes are your addition and not an official 'no fins' excuse right?
So fins come out 9/22 would that be your miracle? Or you looking for more?
It was both not current and unlawful sale, which is worse:
It appears to the Securities and Exchange Commission that there is a lack of current and
accurate information concerning the securities of Advanced Cannabis Solutions, Inc. (“Advanced
Cannabis”), a Colorado corporation headquartered in Colorado Springs, Colorado. Advanced
Cannabis is dually-quoted under the stock symbol “CANN” on the Over-the-Counter Bulletin
Board (“OTC BB”) and OTC Link. There are questions regarding whether certain undisclosed
affiliates and shareholders of Advanced Cannabis common stock engaged in an unlawful
distribution of securities through the OTC BB and OTC Link.
The Commission is of the opinion that the public interest and the protection of investors
require a suspension of trading in the securities of the above-listed company.
Not zombie. See cann .
I see companies trading years after suspension. But the one example so far that I could find detailed news stories on, it does seem it was grey for sometime to get finra approval. Ultimately the situation is the same, the company needs profit. If the company is profiting, I don't care what color market it trades in, its valuable.... but without profit and without equity to fund ops, sannabis would be the only viable component.
I've read that numerous times. It's also been posted here. The definition I posted is no different. The sec's own language says up to 10 days, but that's completely irrelevant..
The only information that's helpful for me is, form 211 timeline, ways we can make sure the form is filed. This is the only education I need, please people, helpful info only
By not understanding, you mean I asked for real cases showing how long it takes, and you just responded, you don't understand it takes months. What is the purpose of questioning my understanding, we are in agreement someone needs to file a form. The question of days or months needs to be answered with cases.
I don't believe that form 211 can be filed but had never been. That is what you and Renee are claiming?
Looks like only need to wait three days after filling form to list:
The market maker must submit the completed Form 211 to the FINRA OTC Compliance Unit, along with two copies of the required issuer information, at least three business days before the security can be quoted on the OTCBB. Once the security has been cleared for quotation, Nasdaq’s Corporate Data Integrity Department notifies the market maker that it has been registered in the security and may commence quoting it.
Read more: Form 211 http://www.investopedia.com/terms/f/form-211.asp#ixzz4sUSyryzK
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You just confirmed what I said as true after calling it backwards and then said it would take longer then I think. Which is my question, real cases, how long each time
Does anyone have an example of form 211 filing and how long it took to be approved?