=NEWN is on my fraud list. Be very careful with this one.
I think the same company that exposed your other fraud, CBEH, also exposed NEWN. Geo something?
"New Energy Systems Group is a manufacturer and distributor of lithium ion batteries and backup power systems for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronics. The Complaint alleges that during the Class Period, New Energy and certain of the Company's directors and/or officers made materially false and misleading statements concerning its business and prospects. Specifically, it is alleged that defendants made materially false and misleading statements, or failed to disclose: the true nature of the Company's customer base its and expectation for future orders from its "loyal customers"; that the Company's products were not sought after in the marketplace; counterfeit products were having a material adverse effect of on the Company's business; and that increased competition had resulted in a permanent sales slowdown.
When the truth emerged, the price of New Energy common stock dropped from a close of $1.81 on November 14, 2011 to $0.93 on November 15, 2011, a drop of almost 49% on unusually heavy trading."
Sound familiar? Remember how these guys operate when Foo announces "an intent to form a committee to pursue the viability of investigating the posibility of a buyout". There have been many multiples more of companies announcing an intent to do a buyout than the very few that have done it. Have any OTC Pink companies completed a buyout? NEWN is still on the NYSE. SCEI should slowly continue to fizzle when their rumors never materialize. $3K of SCEI traded today. That is higher than some of their daily totals.