wait to you see CRMB on Monday. They filed ch 11 friday night. The dumbs loose as usual!.
these press releases and assorted nonsense are all designed to get morons like you to think like \that and buy there worthless stock. "they care about there investors"...... look at the frigging chart, 3 month. 1 year, 10 year, whatever, and then go deliver the pizza already!
bring it on, every uptick is a short opportunity. I love dumb day traders and assorted fools that bid up the very worst stocks in our universe...like shooting fat fish in a tub of beer. bring it on fool!
Yup it will go to 18 cents for sure , and then lower, as it always has and always will.
I've seen it before but there ability to keep it going some 20 years is extraordinary! Then again I've learned never ever underestimate the ignorance of these dumb day traders that pile in the most toxic stocks available ! I get good entertainment value reading the posts, and find them usefull to the extent that identify that the bottom of the barrel have arrived, making for a good short sale .They were talking ships and mining operations, it's funny but sad in a way ! But thats not my problem!
Thanks man for that analysis! I understand now how the split adjusted share price went from 4.5 mill to 3 over 20 years! You the man
Something more going on here possibly ' there is a hoard of degenerate day traders trolling the Nasdaq looking for low priced listed stocks! I am in disbelief watching what they have done to newl this week , a corrupt insolvent shipping company based in Bermuda. If that hoard of idiots ever flock over, and they look for price and volume in low priced stocks, and little else, look out well have a 4 or 5 handle faster than you can dumb day trader ! If you see a 2million share day be on alert for an onslaught !
London’s TransAsia Commodities claims the Piraeus-based shipowner has signed multimillion-dollar agreements to sell coal it did not have as part of a “fraudulent scheme” to inflate the company’s flagging share price and prevent delisting from New York’s Nasdaq exchange.
The trader has sued NewLead Holdings chief executive Michael Zolotas, the coal joint venture and its chief executive, Jan Berkowitz, in the New York Supreme Court, for breach of contract, fraudulent inducement and other counts.
NewLead and its executives, however, have refuted the allegations and say they intend to fight them vigorously.
The lawsuit alleges that NewLead’s creation of mining joint venture NewLead JMEG was part of an effort to lead the stock-buying public to believe that it was an active coal-mining company.
“In fact, NewLead JMEG had no coal mines, no coal and no ability whatsoever to engage in the coal business,” said TransAsia through its Cozen O’Connor lawyers.
And yet, the lawsuit alleges, NewLead forged numerous coal supply contracts, including a June deal with TransAsia, with repeated promises that NewLead JMEG owned the coal.
Serge Turko-led TransAsia says it suffered $6.2m in damages after its 110,000-million-tonne coal supply agreement failed, since it had struck a deal to sell the cargo on to India’s Shree cement and had chartered the 118,626-dwt UBC Ottawa (built 2011) for the job.
According to NewLead: “TransAsia has taken a single contract between itself and NewLead JMEG and has fabricated around it a story attempting to harm the reputations of NewLead Holdings Ltd, Michael Zolotas and Jan Berkowitz (who are not even proper parties to the lawsuit) with a host of false and misguided allegations. The defendants look forward to vindicating themselves through the legal process.”
NewLead owns two bulkers, two tankers and has an order for one newbuilding. In a change of direction, the company teamed up with Berkowitz’s J Mining & Energy Group in April 2012 to form
whys that i sleep very well buying great undervalued businesses and shorting the garbage. I have no plans to cover anytime soon..so bid and bid again, the higher the better. By the way, based on the work we have done, we value the stock at zero..as in no value whatsoever.
yes ill cover a fraction of a penny, and only because IRS rules require it. The good old days we never ever covered worthless paper..those days are gone.
every asset they have is levered to the moon. There is nothing here for shareholders. Your being scammed by a bunch of Greeks that belong in prison. Book Value is so far negative, your stock only has value because of the degenerates like you that use the stock market like a casino.
There is substantial doubt about our ability to continue as a going concern.
Our financial statements were prepared using principles under Generally Accepted Accounting Principles in the United States of America (GAAP)
applicable to a going concern. Because of our losses, working capital deficiencies, negative operating cash flow and shareholders’ deficiency, we concluded
that there is substantial doubt as to our ability to continue as a going concern.
Over the past three years, we have experienced net losses, negative operating cash flows, working capital deficiencies, negative operating cash flow and
shareholders’ deficiency, which has affected, and which is expected to continue to affect, our ability to satisfy our obligations. In addition, we are in default
under various debt obligations which are currently due on demand. Charter rates for bulkers have experienced a high degree of volatility and continue to be
distressed. To date, we have also been unable to generate sustainable positive cash flows from operating activities. For the year ended December 31, 2013, our
loss from continuing operations was $146.8 million. As of December 31, 2013, our cash and cash equivalents were $2.3 million and current liabilities of
$291.7 million were payable within the next twelve months.
The above conditions raise substantial doubt about our ability to continue as a going concern. The financial statements do not include any adjustments
relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result should we are unable to
continue as a going concern.
Our existence is dependent upon our ability to obtain necessary financing, which we are currently in the process of attempting to secure. We believe that
our existing cash resources, combined with projected cash flows from operations, will not be sufficient to execute our business plan and continue operations
for the next twelve months without addition
market cap is much higher. One can only imagine the share count today. I bet it is over 20 mill and rising fast. The ignorance is quite remarkable!
wont hold the long weekend. Will end badly Thurs and Friday..you own the worst piece of paper on the NASDAQ, a stock that shouldn't even exist. NASDAQ will shut down these crooked Greeks soon enough
The stupids arrive in mass pushing a worthless stock on the greater fool theory of investing. Even I underestimate the dumb money that swashes around the casino. They are the bottom feeders of the echo system. It is what it is, and those criminals that run this circus of a scam get rewarded by these degenerate gamblers and assorted fools..but i like it when they arrive in my stocks so its not that i don't think the stupids play a significant role in are wealth creation!
don't knock it we make a living on these fools. The dumbest of the dumb have arrived ...after a 800% move naturally with there get rich quick visions and remarkable due diligence.
you should worry a little. The perpetual preferred holder has been printing and selling shares nonstop at any price for weeks. They know what you should know, the equity of this company is worthless in any scenario you can possibly come up with. The greater fool degenerates arrived today for sure chasing a 500% no less, , but like misquotes, they die real quick.
clever strategy average down to zero they get delisted next month and will trade under a penny for all eternity. This company was plundered and raped for many years..a wicked scam on equity holders, and its a black eye for the NASDAQ compliance staff. IMO criminal activity has been commited here. And I just did my DD last night!!!!