Replies to post #10405 on New Colombia Resources Inc fka NEWC

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I agree unfortunately convertible debt is a fact of life in situations where unexpected delays in permits occur prior to substantial income.
The scientfic and geological etc costs paid to experts as part of the extensive work plans submitted to govt agencies for permits are expensive,as is catching up on 10Q's etc plus outlays for hemp etc farms.
The convertors have operated with stupid abandon with no apparent interest in operations.
The company is aware of the problem and putting their credibility on the line when they confidently expect such convertible debt to be paid WITHIN a week-such conversions have played a large part in depressing pps for many months.



New Colombia Resources is also aggressively establishing a new hemp industry in Colombia, partnering with local and international civic organizations. In addition to their previously announced collaboration with CORPROPAZ to implement pilot hemp plantations in different regions of the country to create jobs in rural areas, the Company has also been contacted by representatives from the civil affairs office of the U.S. Embassy in Bogota to implement similar programs for hemp and/or medical marijuana, where legal, in post conflict areas in coordination with the U.S. Department of Defense.

The Company has several major developing projects that will be announced within the next few days. In addition, it is their intent to become current with their SEC filings within the next few weeks; their accounting firm is currently working on all financial statements for both mining and medical marijuana subsidiaries. In order to pay the accountants and auditors the Company took on debt that is being converted to shares, however, they have been able to reduce outstanding debt and are confident they will be able to retire all debt that can be converted into shares within the next week.