New Colombia Resources Inc fka NEWC

[king koopa]

was looking at buying shares until I saw this. I would be careful this is probably convertible at a 45% discount from the PPS would be around .0017 right now which would be over 100 million shares. Plus with the nature of the conversions, converting a little at a time, this could do some major damage to the stock (death spiral financing):

On April 15, 2015, the Company received a Notice of Default from KBM Worldwide, Inc., which states that due to the Company’s failure to file its Annual Report on a timely basis, the Company is in default under Convertible Promissory Notes held by KBM Worldwide, Inc. As a result, the related outstanding principal balance, which amounted to a total of $122,500 prior to default, was increased by 150% to $183,750. This default balance, along with accrued default interest, is due to KBM Worldwide, Inc. In addition, KBM Worldwide, Inc. has the right to convert the default balance into shares of the Company’s common stock.