At least you got the madness part right dwalk. I can't understand why they voluntarily went to Grey Market. It was like they were desperate to trade again. I think their inocme comes from the dilution. I know you believe in this company, but on the other hand if you had listened to what I have been saying the last month, you would have saved thousands of dollars. I still wish you well and this is not a bash since at this point all I have predicted has come to pass... GL Dwalk, I am sure you will make money on other stocks and hopefully learn from this experience with NEWL
Personally I didnt care why they were halted. We knew there were problems that made this seem like a scam. I guess the question was not so much IS NEWL a scam, it was what kind of scam it was. In this case, the halt was because of the transfer agent, which they asked for so they could hide the dilution count. So, I had said this was a dilution scam, and I don't see how that was in error. Many other said the same thing.
Says they are going to try to get off Grey Market. Why were they so desperate to trade that they allowed themselves to get on Grey Market in the first place?
Dwalk, you are down about 90%, do you think this is going to pop 10X so you can get back to even? I do suppose a move back to normal OTC might give this a little pop, but as usual it seems to be a race between news and dilution, and dilution always seems to win unfortunately...
They will try to pay out in stock because they have no money. Those lawyers they hired with stock shares at .29 are unhappy I am sure, their shares lost 90% in 3 weeks!
Sorry man, I did try to warn you. Just remember in the future, always check the current ratio of a stock. If below 2, be careful. If below 1 do not invest. If at .06 like NEWL was, it will either go BK or just dilute you like NEWL did. Good luck in the future!
Yes, I did hear that a lot. "News is coming!!!" "Mark this post" "Watch and learn!!" "The bottom is in" and on and on. And still there are people saying the same thing today...
Or could it be that NEWL is a scam run by people in Greece, registered in the Bahamas (so they cant get sued) that did so many reverse splits that if you bought and held 13,500,000 shares 3 years ago, it would now be only one share worth $1.43, and that because of this huge dilution, loss of shareholder value, misleading PRs, etc., it DESERVES to trade on the OTC?
Without the reverse splits, NEWL stock would be worth $0.00000001, literally 1/100,000 of a shiny penny. The only stocks that have that value trade on the OTC. Nasdaq was just doing their job and taking out the trash, don't take it personally.
I know you have a lot of money, so glad to just see you did not put it all in this phongdinh. Better luck on other stocks. And remember, check the dilution history and also the current ratio, this wont ever happen to you again if you invest in companies with a current ratio better than 2.0 (NEWLs was .06, super super bad financials)
Actually, if you follow his posting history, he was averaging down, and updating his position sizes everytime. He had a lot of money from other stocks though. We tried to warn him in this one, but luckily he has lots of money so this did not hurt him so bad. It is the other guys I feel bad for, the ones who literally got sunk on NEWL.
You mean they are finally going to put NEWL management in jail where they belong for stealing shareholder money like candy from babies??? About time!
OK, there is no way at least some of these kids are not paid pumpers. 70% haircut in one day , on top of already being down, I mean seriously, who the hell is all happy about getting destroyed day in and day out. No commentary, just "Long and Strong".
Longs have been saying that for 3 years in this stock. In the meantime NEWL reverse splits turned every 13,500,000 shares into one lousy share worth $1.4
Pre splits, one share of NEWL is now worth 1/100,000 of a penny. Means you need 100,000 shares of NEWL to make a penny.
The dilution WILL NOT END, the LIES WILL NOT END, NOTHING WILL CHANGE just because you got in to this stock today.
He means when the total value of his NEWL gets over $25. After Reverse splits many longs only have 2 shares left.
Very low volume today compared to previous days. That is OTC for you, only as NEWL sinks to .000001 type numbers will the volume increase because each share is cheaper.
Amazing destruction of shareholder value. If a fund had 13,500,000 shares of NEWL 3 years ago and they held it, it would now be worth ONE SHARE, WORTH JUST $1.31.
Good luck longs, you are going to need it with all the DILUTION this company engages in.
Splits: Aug 3, 2010 [1:12], Oct 17, 2013 [1:15], Dec 6, 2013 [1:3], Mar 6, 2014 [1:10], May 15, 2014 [1:50], Jul 15, 2014 [1:50]
12*15*3*10*50*50 = 13,500,000
NEWL current price = 1.35 which makes the math easy.
NEWL Pre split price = 1.35/13,500,000 = $0.0000001. Multiply by 100 to get number of pennies per dollar:
Yes, that is 1/100,000 of a shiny penny.
Greek management screwed the longs, and they will do it even faster, even harder now that it is on the OTC.
Reminder, that is what everyone has been saying, all this time, and stock is a NEWLows, all time NEWLows, as usual. There is no short squeeze coming that is worth holding this stock for.