There's only 1 reason why SEC suspended NEWC (and will likely revoke their SEC registration once the ALJ hears their case on Oct. 10).
Don't blame shorts or anyone else. The ONE reason SEC suspended is because audited financials for NEWC were NEVER submitted on a timely basis. Plain and simple.
Angry investors may rail against Shorty and “bashers,” but the truth is that although the SEC may have originally received tips about problems with the company, they always conduct their own investigation before taking any action.
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