New Colombia Resources Inc (OTCMKTS:NEWC) Takes Another Hit

[[tagnumber 0]][[tagnumber 1]]New Colombia Resources Inc (OTCMKTS:NEWC) isn’t one of the most traded stocks on the OTC marketplace. The ticker rarely recorded daily dollar volumes of more than a thousand bucks until about a month ago it began to climb up the charts and trading increased.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Back then the company announced that its subsidiary, Sannabis SAS, has received an order from an established pharmacy chain. The press release was nothing more than fluff PR and contained little actual information. Still, it worked out well and investors were hyped. [[tagnumber 6]]NEWC[[tagnumber 7]] began climbing and the volumes increased.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Meanwhile, there is no actual way of doing any solid due diligence on the company. The latest financial report that NEWC has filed is for the first quarter of last year. Back then the company had.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 15]] [[tagnumber 16]]cash: $567[[tagnumber 17]] [[tagnumber 16]]current liabilities: $1.4 million[[tagnumber 17]] [[tagnumber 16]]revenues: ZERO[[tagnumber 17]] [[tagnumber 16]]quarterly net loss: $360 thousand[[tagnumber 17]] [[tagnumber 24]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]NEWC[[tagnumber 7]] filed a notification of late filing for its next report, but never got around to actually file it. This is why we are stuck with old information and the company is stuck with a OTC Pink No Information STOP sign in the OTC marketplace.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Looking at this horrible balance sheet we don’t think that things could have gotten a lot better in the meantime. This is why it’s not that big of a surprise that [[tagnumber 6]]NEWC[[tagnumber 7]] began correcting sooner rather than later.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]After attempting to recover at least some of the losses we saw it take another hit in yesterday’s session, losing 27.09% and closing at $0.01495. A total of 7.52 million shares changed their owners and generated some $114 thousand in daily dollar volume.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]][[tagnumber 6]]NEWC[[tagnumber 7]] is not doing that well in today’s session either. The ticker is already 5% in the red and it might go even further down the charts in the not–so–distant future.[[tagnumber 2]]