BEWARE..NEWL IN DEFAULT under various debt obligations which are currently due on demand.
They ONLY HAVE 400K In CASH.......LOL
They Authorized 50 BILLION SHARES
''We have experienced net losses, negative operating cash flows, working capital deficiencies, and have a shareholders’ deficiency, which have affected, and which are expected to continue to affect, our ability to satisfy our obligations. In addition, we are in default under various debt obligations which are currently due on demand. Charter rates for bulkers have experienced a high degree of volatility and continue to be distressed. The coal business has experienced some of the lowest prices in coal history. However, charter rates for the oil tanker/asphalt carriers are within expected levels. To date, we have also been unable to generate sustainable positive cash flows from operating activities. For the year ended December 31, 2014, our loss from continuing operations was $68.3 million. As of December 31, 2014, the Company’s cash and cash equivalents were $0.4 million and current liabilities of $247.5 million including $122.3 million of debt and convertible notes in default due on demand, were payable within the next twelve months.''
