New Colombia Resources Inc fka NEWC

[1manband]

They buyers are not short covering. At the time of the SEC suspension, there were only 8,592 shares short. Chances are they were either FTD's or a MM who was planning to cover the next day, but the suspension prevented that.

http://otce.finra.org/ESI

Often the buyers are speculators who do no DD of any kind. They either use charts and think the stock is due for a rebound, or see the decline in the stock price and think the same thing.

They pay the price for doing no actual DD. But you see this in all similar stocks. There are always some buyers right up to the moment of revocation when the stock goes worthless.