Robert Faber is listed as having a medical device company in FL. The phone numbers are not active. Also asfx name was changed to Brooklands Inc which after March 2020 became inactive.
I can not fathom why the bankruptcy case was resolved and folks were paid off to the tune of half a mil$ without moving the company forward....
Unless it was all premeditated in the first place. Some type of agreement? The assets were sold to Redhawk ticker SNDD. For those who care Redhawk had the non contact thermometer and now they have the hypodermic needle destruction device that ASFX originally had the patent on.
So Robert Favber steals these patents, starts a new entity and pays off the investors in the lawsuit minus us wee little retail investors like me who lost 10's of thousands $$
It filed for bankruptcy (Chapter 7 liquidation), failed to reverse merge, got slapped with CE (I don't remember why), and then got moved to the Expert Market for being delinquent in filings, which means hardly anyone can buy shares.
Good question. To settle bankruptcy at the tune of over $500k then let the shell sit is mind boggling.
I'm in a number of OTC companies touting reverse mergers whose stock price is in the dumpster due to a massive bear mentality/ shorts. Maybe something is in the cards for this clean shell but is on hold. I know I'm holding.
Chapter 7 bankruptcy case closed, I guess.
The share structure hasn't changed in a few years. In 2019, someone posted the same 417 million O/S and 5 billion A/S.
I believe they could change the share structure. A filing from 2011 shows 2.5 billion A/S. Since the company has no SEC filings in 10 years, we'll have to rely on the transfer agent for the most updated share structure.
What does this post mean?
So you posted this OS of less than 500 mil shares. What was the AS at that time? 5 bil? Can a bankrupt company increase share structure?
I'll keep digging on the BK outcome
5 billion authorized shares, transfer agent verified 3/11/2022.
Where did you hear about the payoff? PACER? I have not followed the ASFX bankruptcy case in many years.
Who's the idiot that paid off the bankruptcy and why? It's a clean shell unless there still are people who didn't sign off on the bankruptcy.
Do you have a link showing 5 billion shares? I don't remember ever seeing an AS that high.
Jpex had a merger lined up, but the shell wasn't clean.
Furnishing past Financials while in bankruptcy should be easy.
Hey will you just look at this !
After many months of being flat lined and doing absolutely nothing there is a blip on the screen again . Of course it is a blip DOWNWARD , lol.
I didn't realize they even showed stocks that are priced or traded below .0001 . I guess that kinda puts this POS into a league of its own.
.000001 LOLOL ...... too Funny .
Great explanation...still some hope here in the future of someone picking this shell up...maybe not as clean as we thought?? glta
On September 28th, OTC Pink/No Information tickers do NOT move to the Grey Market.
Instead, all OTC Pink/No Information tickers will be moved to the Expert Market. That is where OTC Markets already puts stocks which OTC Markets have labelled as Caveat Emptor.
Only institutional investors and accredited investors are allowed to purchase stocks on the Expert Market.
However, because the OTC Pink/No Information tickers will retain that designation, they will not need to go back through the Form 211 process with FINRA as they would if they were moved out of OTC Pink and into the Gray Market.
If an OTC Pink/No Information ticker files the required paperwork to bring their filings current, the ticker will be reclassified as OTC Pink/Current.
People here on iHub who are attempting to scare you into selling your shares through a market order before September 28th are hoping they can acquire your shares for as low as $0.000001 per share. That is the lowest price possible.
Then, they can try to sell your shares at $0.0001 per share for a 9,900% profit.
Note that as of September 28th, you will no longer be allowed to submit market orders for your OTC Pink/No Information stocks and limit orders generally are not accepted at prices below $0.0001 per share.
If you still holding shares for an OTC Pink/No Information stock, you should only have limit orders at a price of $0.0001 per share or higher.
If the corporation files the necessary paperwork to bring their filings current, the stock will resume normal trading and you will get a chance to recover your cash. Otherwise, eventually in a few years, the stock will die and you will have to take the tax deduction on your loss at a rate of no more than $3,000/year unless you have gains on other stocks to offset the additional losses.
i have been here approx. 9 years waiting for something to hit, nothing did. i was in @.0002. sold,held,sold,and wound up holding for a long time. @>002 it was time to get out. i still would like to get some just to hold again at this pps. but, nahh.
GOOD LUCK TO ALL IN ASFX....
At least you were smart enough to bail out and get a little something out of it before this thing completely fizzled out like it has . All this talk about being a potential Reverse Merger candidate is just a pipe dream and wishful thinking. This stock has already had it's 'day in the sun ' or ' 15 minutes of fame ' and that time has long since past . Now this one is just another statistic along with countless other pinkies that have come and gone to the wayside leaving behind a handful of Bagholders ( like myself )
just hoping for some kind of miracle to happen. Personally I believe that if anything positive was in the future for this stock it would have already happened not long after emerging from bankruptcy which obviously didn't happen . Just my two cents .
What is 1-11? You have me curious now...
That would be a nice little surprise. Hope you are right. The spread tightening up is another good sign. Something is going on. Just not sure what. It seams like there is very little trading for a couple weeks and then someone buys a million shares out of nowhere. That is at least interesting. I am not saying something great is coming but I am just interested to see what happens. Good luck.
Hmmm yes and now 12-13. Hoping some company picks this up and gets us reporting b4 Sept. seems like it is a nice clean shell
Some one is quietly buying shares here. Wonder why.
ASFX: As of May 25, 2021, TD Ameritrade will restrict orders in Caveat Emptor designated OTC securities to liquidating trades only.
A Caveat Emptor security is a designation the OTC Markets Group places on a security after a determination was made surrounding the company that there may be potential risk to investors which include a questionable stock promotion, known investigation of fraudulent activity committed by the company or insiders, regulatory suspensions, or disruptive corporate actions, among other reasons.
The current list of Caveat Emptor restricted securities is below as of April 12, 2021 and is subject to change at any time.
Please visit www.otcmarkets.com for additional details and real time Caveat Emptor desiginations.
#ASR: PENNYLAND RM EXPLAINED
Good to hear from you...hope this is our year here!
Long and strong. You are right, a low float clean shell. Patience will be rewarded here
Exactly ... and no news at all that I can find
Thanks for the info. So wondering your opinion as to why many pinks have been skyrocketing the past few weeks.
You stole my line! :0)
That is exactly what I offered a few weeks ago...
I'm up 350k so far hahaha
$ASFX .003 hod Boom
Oh and I had TSNP at .0001...hope that was a joke
Could you imagine where this would be if they were still selling non contact thermometers during this pandemic??? My god we would be over 50 bucks a share. We were just a little too early.
Maybe we are actually going to have a reverse merger. It’s rare but you never know. They have been inactive for a long time but maybe. Just maybe....
Thats a pretty fair assessment at this point, Id say.
Ok. Somethings up. Too much volume out of nowhere for it not too be.
I would assume that with the new rule in place that no new positions can be taken out on CE stocks that it would be the MM's that are doing the buying . For what reason I don't know but they obviously are privy to more information on what is going on behind the scenes than us retail investors . I take the decent volume as a good sign but as we have seen many times , chances are the PPS will drop right back down to where it was either later today or tomorrow. Hopefully it is a sign that something positive really is in the works . JMO of course which has been wrong on many occasions , lol .
American Scientific Resources, Inc.
OTC Markets Group Inc. ("OTC Markets") has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware). OTC Markets Group designates certain securities as “Caveat Emptor” and places a skull and crossbones icon next to the stock symbol to inform investors that there may be reason to exercise additional caution and perform thorough due diligence before making an investment decision in that security.
The Caveat Emptor Designation may be assigned when OTC Markets becomes aware of one or more of the following:
OTC Markets will resume the display of this security’s quotes once adequate current information is made available by the issuer pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern. Investors are encouraged to use caution and due diligence in their investment decisions. Please read our Investor Protection page and OTC Markets Policy Regarding Caveat Emptor for more information.