Replies to post #33704 on New Colombia Resources Inc fka NEWC

[janice shell]

He's generally right, but has the timing and order of events a bit wrong.

1. Agree to accept revocation. Wait till that is finalized by the administrative judge.

2. File a new Form 10. That's something Campos has done before.

3. When the new Form 10 becomes effective--and Campos has to get it right; while effectiveness is automatic after 60 days, the SEC can require amendments--it'll be time to have an MM file a Form 211 with FINRA.

That last isn't a matter of a couple of weeks; it can take months.

[lucky, mydog]

opti, i know you are just reporting but campo just demonstrated that he does not have a clear idea about things. to wit;

and have a broker/dealer file a Form 15c-211 with FINRA to re-register our company,

two things wrong with that. first, it's a form 211 under rule 15c-211. there is no form 15c-211. but that's minor. a lot of people don't understand that. but more importantly, a form 211 does not register anything. a form 211 approval allows mm's to enter quotes. finra does not register companies.

Once FINRA approves the Form 15C-211, DTC will link our old CUSIP number to our new CUSIP number, issue us a new symbol


this is the wrong order. no mm will sponsor a revoked company. the shares will have to be registered first.mm's will want to see the form 10 first.

To this end, we will not need to have the quarterlies for 2015 and 2016, only audited financial statements for these two years plus 2017 until 30 Sept. Ultimately, its much less work for our accountants and auditors, although I know a lot of it has been done. Nothing changes with the share structure, everything remains the same, the only loss is time. In the meantime we will continue developing the company, the only difference is there won't be any trading during this process.

he got that part correct buthe doesn't mention that the lost time would most likely exceed a year.

[OneDay4488]

Thanks for the update. Anything is possible and only true actions will dictate what happens. Fingers crossed

[3Dogs]

So this boils down to what?

Grey until December then otc? No fins until 9/30?

[MoreThan4Hours]

I really tried to avoid this but the auditors took much longer than they agreed to.

Lol. The "victim strategy" engaged.

[Setanta]

So does that mean our shares are worthless ? In Canada I don't think it will ever be reinstated .

[Nani740]

Thanks for the update.

[chemist72]

A few comments on Campo's e-mail:

First, it appears he will NOT contest revocation; if so, once the revocation is made official by an Administrative Law Judge, then the only trading that will be possible in NEWC will occur on the grey market.

Second, Campo tries to make it seem like filing and getting forms approved for re-regisration and trading of NEWC (with a new stock symbol) is easy and/or simple; it is neither easy nor simple; in fact, it is a time consuming process that could take several months or possibly even longer (as others on this board have stated).

Third, this process, if undertaken, will not be cost free; where does Campo expect to get the money necessary to complete the re-registration and re-listing process? He says nothing about the costs and where he will get the money.

Finally, he implies financials will be completed, but by when? (Apparently the date of Sept. 22 is no longer valid). Fins would still be required to complete the process.

[carl405040]

Opti, time has told the whole story.