Hello fellow NEWC longs,
Below is an email from John in regards to the court case in question.
Seems to me its nothing to worry about. GO NEWC!
RE: Court case
Hi Miguel,
This case is a frivolous lawsuit brought about by note holders of the company back in 2004. Not only have the statutes of limitations been exceeded, but these notes were transferred with consent of notes holders, out of New Colombia, at the time known as something else. Since they couldn't collect from the other company, now they want to try to get it from us. I've let our attorney take care of so I'm not too familiar with the details, but I believe it's all in the docket. It will be mentioned in the 10K coming out anyday.
Worst case is we will owe money which is highly unlikely, IMO, this will have no effect on the company, other than a monetary judgement, but highly unlikely. We have the facts on our side and a very capable attorney. These remarks are strictly my opinion and should not be interpreted as facts.
Thanks,
John
John Campo
President
