Seeking Alpha

NewLead Holdings heads toward Nasdaq hearing

  • A reverse 1-for-50 stock split on NewLead Holdings (NASDAQ:NEWL) became effective today.
  • Despite bringing its share price back over a buck, the company will need to regain compliance with the Nasdaq through a formal hearing process.
  • A hearing has been set for July 24.
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Comments (15)
  • me-anf
    , contributor
    Comments (18) | Send Message
     
    $NEWL June 24, 2015?
    16 Jul 2014, 12:58 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    $NEWL It is a typo, the month is wrong. 2014.
    16 Jul 2014, 01:27 PM Reply Like
  • 12067261
    , contributor
    Comments (3) | Send Message
     
    So will be a great play through the 23rd, beyond if they regain compliance...they sure are giving it a good try have to give em credit for that...but through the 23rd will be fun to play and make $s
    16 Jul 2014, 08:09 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    The fight and conviction imply a furtherance of value (to me) and there is an exhibit out there that makes attempts to make sense of this issue and reverse splits. I read the reversal was part of $NEWL acting in good faith. They are fighting to keep the stock on the exchange or someone is cracking that whip. I think it is Exhibit #1 in an 8-K filing that outlines the chronology and number of shares in controversy. It is a very technical complicated situation but obviously people are researching and choosing to ride up (or down). For example, that date in the article about the hearing needs to get cleared up. Good example of what happens to asset pricing when data and information is harder to capture and value.
    16 Jul 2014, 08:25 PM Reply Like
  • ARBOUR_01
    , contributor
    Comments (8) | Send Message
     
    Bla bla bla.... You have no clue! People here need to do a lot of research to see that this is a vicious cycle. NEWL is a registered company in Bermuda, which allows it to operate beyond the reached of US, CDN, or others, law enforcement. Mr. Zolotas has been with Aries Marine, NewLead and other public companies for years and plays this shell game, over and over. He also has other companies you have never heard of, like Aurora. Four reverse splits in less than a year?. As usual, NASDAQ sends a letter, like they always have (research how many they have rec'vd) and ta-da, NEWL institutes an R/S.
    Ironridge is owned by a lawyer and NewLead is planning a fight? Good luck!

     

    I am actually surprised that there is no contract out for Mr. Zolotas' life as he has ruined and robbed many with these charades, for a long, long time.
    17 Jul 2014, 09:28 PM Reply Like
  • ARBOUR_01
    , contributor
    Comments (8) | Send Message
     
    http://bit.ly/1pgKkTT
    17 Jul 2014, 09:31 PM Reply Like
  • eyeintheknow
    , contributor
    Comment (1) | Send Message
     
    Should it read July 24,2014?
    16 Jul 2014, 08:12 PM Reply Like
  • sandman3573
    , contributor
    Comment (1) | Send Message
     
    $NEWL July 24 2014
    16 Jul 2014, 08:13 PM Reply Like
  • The Panner
    , contributor
    Comment (1) | Send Message
     
    Was anyone else amazed by the 125% gain today before it fell back some? Has NEWL suddenly become a winner?
    16 Jul 2014, 08:23 PM Reply Like
  • ARBOUR_01
    , contributor
    Comments (8) | Send Message
     
    No. Please learn from me and the other thousands and thousands. Don't lose your money and buy any $NEWL
    17 Jul 2014, 09:37 PM Reply Like
  • me-anf
    , contributor
    Comments (18) | Send Message
     
    if you have shares, I'm sure they are below ground zero right now so the only thing you can do is leave them alone and hope you can catch them someday in a upside....otherwise, do not buy into it. At least not until you can see possitive earnings.
    22 Jul 2014, 06:22 PM Reply Like
  • ARBOUR_01
    , contributor
    Comments (8) | Send Message
     
    On July 17, 2014, the common shares of NewLead Holdings Ltd. (the “Company”) were halted from trading on The NASDAQ Stock Market system as a result of a NASDAQ inquiry regarding the Company’s efforts to switch transfer agents. Consequently, as a result of the halt, which would have continued through a determination pursuant to the upcoming delisting hearing before a NASDAQ Listing Qualifications Panel, and discussions with the NASDAQ Staff about the likelihood of success at such upcoming hearing, the Company determined to voluntarily delist from NASDAQ and transfer to the over-the-counter market. As a result of its recent trading halts, the Company will be required to have a market maker file an application on Form 15c2-11 with FINRA in order to have its common shares trade on an OTC market other than the Grey Market on which it is currently trading. Once the Form 15c-211 is cleared, the Company hopes to have its shares trade on the OTCQB market. The Company has engaged a market maker to file the necessary application with FINRA. The Company intends to make a further announcement regarding its trading market once the application is cleared.
    24 Jul 2014, 08:12 PM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    I'm still holding mine. :)
    25 Jul 2014, 12:42 PM Reply Like
  • ARBOUR_01
    , contributor
    Comments (8) | Send Message
     
    Not a hard decision there ( to hold on to them), as you had no any choice, as the shares were halted and delisted.
    26 Jul 2014, 07:59 AM Reply Like
  • EconoAlpha
    , contributor
    Comments (163) | Send Message
     
    That's why it was funny, lol. :)
    26 Jul 2014, 10:27 AM Reply Like
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