I just spoke with the company, she stated to me still no information from nasdaq as to when we will resume trading, it is their hopes that trading will resume this week, but it's up to the nasdaq to decide. Our security lawyers are working with the nasdaq on getting these matters resolved. The nasdaq ir reviewing the 6-k that was filed on the 18th, and they were in a monitoring period by the nasdaq for two deficiencies, and if you have been following the company for a while you would know of these matters. one deficiency is for market cap the second is for minimum price. They have not been delisted, they have not gotten any notice at all of being delisted, and even if they were giving a notice the stock would still trade on the nasdaq ! If you are giving a notice of delisting you still have a period of time before actually being removed, but no such notice has been giving to the company ! They would have to notify the company before ever being delisted. We are just waiting for the nasdaq to finish reviewing the information and we will then release a press release. She of course is not aloud to make any comments on the information being positive or negative. Not delisted, want be delisted anytime soon !! that is the take away, but no idea how long this process will take.. that's the truth so stop with the lies !
No one takes this company seriously.. no institutional investers will touch it. If they R/S again, the stock will sink below $1 again. They might as well just go to the OTC market where they belong since it's just day trader bait anyway.
NewLead is deficient on one account, the Market Cap. They are not deficient on the Minimum Closing Bid Price since the price (closing bid) has not been below $1 for 30 consecutive trading (business) days. Currently it is 13 days below $1 (June 2-June 18). My guess is that the counting for both the Market Cap and MCBP was halted when trading of the stock was halted. It is possible that NewLead didn't regain compliance since the Market Cap on June 17th was or was not $50 million or more depending on what price is used (closing or other) and the actual number of outstanding shares. On June 12th, the OS was 116,952,076; on June 18th, the OS was 138,689,152. So, we don't know what the outstanding shares were on June 17th. If the closing price is used for June 17 (0.35), the number of outstanding shares needed to be 142,857,142. If the open or HOD (0.48) is used, the number of outstanding shares needed to be 104,166,667.
This was from the company not my opinion !! They were deficient on two accounts and were in a monitoring period.. The deficiency monitoring for market cap has been going on for 6 months, that's why she said if you have been foloowing the company for sometime you will know of these issues, steming from last year sometime. Not my words, theirs. But I do understand what you're saying.
I'm not sure what will happen, and this halt in it of it's self is frustration and scary to say the least, but I am feeling a bit better knowing they are still answering our calls, and still trying to say what they can as far as this process is concerned. I think the fact that they are not hiding fron this or not answering calls is a postive sign ! The fact that being delisted is not on the table right now is also good. we all are invested both long and shorts and we are all at risk of losing our investment, but I think the giving situation although daunting to go through is a positive sign for longs. Shorts have no clue what they are in store for. they are scared and fishing for any negative they can conjure up. They need us to be scared so if and when this does open we will sell at the first possible opportunity. no one is in control, but when we resume. LONGS WILL BE IN CONTROL.. only if we stick together and fry the longs ! glta