This latest filing with the SEC by New Century (NEW) isn't keeping shares from sliding deeper down into $3 territory this evening.
The gist of this 8k is that it has received $265 in lender financing and that it's holding discussions with other lenders and other parties to obtain additional liquidity. The 8K portrays a company completely up against the wall since it was also forced to secure additional funding to address $710 mln worth of mortgage loans financed through another facility.
NEW is also no longer accepting loan applications.
Gee, maybe they should call Lending Tree, or Quicken Loans?
1 comment:
An email was sent today by a low level supervisor alarming New Century employees that there was a "minor glitch" with direct deposits for this periods pay checks, but not to worry, they're aware of the problem and working on it. Can you spell CashCall.com whooaaa!
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