BEWARE,NEWL IS A SCAM,That Now Has 50 Billion AS.
LOOKOUT BELOW,NEWL SCAM GOING TO .000'S
It Would be BEYOND FOOLISH to own NEWL GARBAGE AFTER Reading This,Read it very carefully,then say 50 BILLION SHARES Then Stay FAR Away From THIS SCAM Stock.
''At our option or not, subject to certain conditions, certain interest and principal payments of our indebtedness may be satisfied by issuing additional common shares of the Company (rather than in cash). Refer to “Item 5.-Operating and Financial Review and Prospects-Liquidity and Capital Resources” for a discussion of our indebtedness. The issuance of additional common shares may be dilutive to our stockholders, including holders who received common shares in any restructuring. We cannot predict the extent to which this dilution and the possibility of additional issuances and sales of our common shares will negatively affect the trading price or the liquidity of our common shares.
There may not be an active market for our common shares, which may cause our common shares to trade at a discount and make it difficult to sell once you purchased.
We cannot assure you that an active trading market for our common shares will be sustained. We cannot assure you of the price at which our common shares will trade in the public market in the future or that the price of our shares in the public market will reflect our actual financial performance. You may not be able to resell your common shares at or above their current market price. Additionally, a lack of liquidity may result in wide bid-ask spreads, contribute to significant fluctuations in the market price of our common shares and limit the number of investors who are able to buy the common shares. The oil tanker/asphalt carriers and dry bulk markets have been highly unpredictable and volatile. The market price of our common shares may be similarly volatile.''
'' There is substantial doubt about our ability to continue as a going concern.
Our financial statements were prepared using principles under Generally Accepted Accounting Principles in the United States of America (GAAP) applicable to a going concern. Because of our losses, working capital deficiencies, negative operating cash flow and shareholders’ deficiency, we concluded that there is substantial doubt as to our ability to continue as a going concern.
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.
The above conditions raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should we are unable to continue as a going concern.
We believe that our existing cash resources, combined with projected cash flows from operations, will not be sufficient to execute our business plan and continue operations for the next twelve months. Our existence is dependent upon our ability to obtain necessary financing, which we are currently in the process of attempting to secure . In addition, we intend to continue to explore various strategic alternatives. Management is also actively taking steps to increase future revenues and reduce our future operating expenses. However, we cannot provide any assurance that operating results will generate sufficient cash flow to meet our working capital needs or that we will be able to raise additional financing as needed.
If all of our indebtedness was accelerated as a result of our current events of default, we may not have sufficient funds at the time of acceleration to repay most of our indebtedness and we may not be able to find additional or alternative financing to refinance any such accelerated obligations on terms acceptable to us or on any terms, which could have a material adverse effect on our ability to continue as a going concern.''
''DILUTION,OR COMPLETE LOSS IN VALUE''
GET OUT WHILE THIS GARBAGE IS STILL TRADING.
DO NOT BUY THIS SCAM,YOU WILL LOSE IT ALL HERE.
'' Our restructuring and development efforts to strengthen our financial position and reduce our debt may adversely affect our common shareholders through dilution or complete loss in value.
We may continue to effect various transactions to restructure our capital structure and reduce our debt service obligations, which may include additional issuances of equity securities in exchange for our indebtedness or the issuance of securities convertible into common shares, such as our preference shares. In addition, as part of the restructuring, certain of our indebtedness continues to remain outstanding, and the agreements relating to such indebtedness contain various restrictive covenants. Any debt that remains outstanding or we may incur as part of the continued restructuring will remain senior in right of payment over our common stock.
Volatility in the market price of our common stock may prevent investors from being able to sell their common stock at or above the price an investor pays for our common stock in an offering. In the past, class action litigation has often been brought against companies following periods of volatility in the market price of those companies’ common stock. We may become involved in this type of litigation in the future. Litigation is often expensive and diverts management’s attention and company resources and could have a material effect on our business, financial condition and operating results.''
NO COAL FROM NEWL SCAM
''Our coal will be transported, if and when the mining operations start''LMAO
'' Our mining operations are currently limited or non-existent. However, even any limited operations are capital intensive due to construction of new infrastructure and maintenance of existing operations. Specifically, the exploration, permitting and development of coal reserves, mining costs, the maintenance of machinery and equipment and compliance with applicable laws and regulations requires substantial capital expenditures. We cannot assure you that we will be able to successfully manage our limited operations or that we will be able to generate sufficient production levels or generate sufficient cash flow to fund future mining operations. We do not currently have access to sufficient financing to fully fund our proposed production, exploration, permitting and development activities and we may be required to defer all or a portion of our future capital expenditures.''
NEWL IN DEFAULT...PPS Going to be ADVERSELY AFFECTED AGAIN...LMAO Triple ZEROES .000
''Further, there is no assurance that the Company will obtain releases or waivers from defaults, or incur additional defaults, under certain of its other indebtedness, and the failure to obtain such releases or waivers could materially and adversely affect our business and results of operations. These provisions could have the effect of discouraging, delaying or preventing a recapitalization, amalgamation, merger or acquisition, which could adversely affect the market price of our common shares.''
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.''
NEWL SCAM HAS NO ASSETS!!!!!!!!!!!!
''As of December 31, 2014, our currents assets amounted to $11.8 million, while current liabilities amounted to $247.5 million, resulting in a negative working capital position of $235.7 million. Our independent registered public accounting firm has indicated in their report that there is substantial doubt about our ability to continue as a going concern.''
cash and cash equivalents were $0.4 million LMAO,They have 400k in cash and Now Have a WHOPPING 247.5 MILLION IN DEBT,AND THEY AUTHORIZED 50 BILLION SHARES LOL
NEWL GARBAGE GOING TO TRIPLE .000'S
