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OMYGOD - THREE YEARS LATER WE FIND OUT.
Did I ever mention that the late unlamented Terence Hallihan was a vituperative twisted penny stock promoter, albeit a highly unsuccessful one?
Because he was.
Obviously wrong board.
Very Strange... how warrants do not get hardly
any leverage from these stock increases.
Jim, KDSs will start selling jut as soon as I
cancel my shares (for tax credit).. after 21 years.
Ya think
PS
I had about 2.5 million shares.
I have over a million shares and I plan to hold on forever. You never know what the future may bring.
CONFESSIONS: I wrote off all my shares of FASC. About $120K in losses.
I had a few half way decent trades last year. And will
likely use up maybe $30 of FASC as offset (helps the pain
a little). So looking forward to $90 profits this year
so can use up rest of my FASC.
PS
I was shocked to see how many times I purchased FASC
stock. About 75 trades.
My biggest (and worst) trade was on 28 March, 2000.
45,000 shares for $23,000. (about .51 cents/share!!!)
For the life of me... I do not remember what I must
have been thinking.
I took losses on a few penny stocks last year, including 385K shares of FASC in ETRADE. Got my $3000 tax loss credit plus enough for a couple more years. Still have a chunk in Fidelity.
CPAMAN- This what I thought. I can kinda see a way
to maybe help any FACEESTAS still hanging in. I.'m
gonna take tax loss (actually have a few profits
to take losses against!).
As soon as I get out after 23 years.. KDSs will
start selling like hot cakes.
Ya think.
Hi Sam.......once you take the tax loss, that's it.
You just carry it forward no matter what happens with FASC.
If there were ever dividends paid out, you would just pay the normal tax on dividend income.
If there was a company sale, you would pay the capital gains on the full amount (minus whatever you had left on your capital loss carryover).
CPAMAN, Good to hear from you! And you make a good..
albeit far-reaching premise.
Quick question: If I take/use a tax loss deduction
for my shares:
1. And then the KDS market does skyrocket.
2. Can I undo my tax loss deduction and return to being
a beneficiary if possible financial benefits are
proffered by FASC???
Sam, I agree. You never know what can happen in today's world. They have had some great opportunities and a lot of really bad luck. It's not a scam.
BTW, we are still the owners of the company, albeit a private one. With the price of oil at $60/barrel, alternative sources have become far more price competitive. If they did sell a boatload of KDS at the current price of $250-$300K each, we would be the ultimate beneficiaries.
Gotta admit, SunMan, words were somewhere between dreaming...
and sarcasm.
Not sure if it was a scam... any more than just
not enough wherewithal ($$$) to make the KDS
become ubiquitous.
I think they tried.. really hard.
Bless your heart, Sam. If only the world was half as nice as you think it is.
FASC was a scam, pure and simple.
Here is all that is left: Maybe. Maybe. If the KDS
suddenly becomes exponentially powerful and Brian/FASC
sells 100s of them at really nice prices. Maybe they
will try to track us/we loyal investors down.. and
send us each between $100k and $500K (relative to our
investments) for having been so loyal and dedicated.
This would depend on the company having made so much
profit that these token distributions would not make
a huge dent.
Just sayin'....
""I wish I had better news for you but now that Covid has hit it has stalled all our progress on our big projects.. another huge blow, yet again. We are still in business and working diligently to keep moving forward but at this point I really don’t see a clear path to getting relisted as it will literally take hundreds of thousands of dollars to even make an attempt. Which means the only way we could even consider it is if we closed on a multi machine order, which still has never happened. I know we have extremely loyal shareholders who care deeply about our success and Brian and I are truly grateful for that but it just doesn’t seem realistic to give false hope to everyone."
Here's a translation from conman speak into the truth:
"We remain worried that one day the SEC might wake up and take action against us (and our undeclared stock promoters and other insiders who participated in this long-running stock selling scheme). So I'm going to pretend to be concerned and to respond to your email
We can blame COVID (a lie of course, the pandemic would have had a beneficial effect on the sales of the technology we pretended to sell!) but the reality is we'd like all our victims to slink quietly away and leave us to enjoy the cash that we swindled out of you in peace.
So long, suckers!
Brian (as dictated to Adam)"
jbotts, I'll just answer that with how Adam replied to my email:
"I wish I had better news for you but now that Covid has hit it has stalled all our progress on our big projects.. another huge blow, yet again. We are still in business and working diligently to keep moving forward but at this point I really don’t see a clear path to getting relisted as it will literally take hundreds of thousands of dollars to even make an attempt. Which means the only way we could even consider it is if we closed on a multi machine order, which still has never happened. I know we have extremely loyal shareholders who care deeply about our success and Brian and I are truly grateful for that but it just doesn’t seem realistic to give false hope to everyone."
Charlie, why would it benefit the company to not put anything out? Why keep the doors open if they are not doing business anymore? I want to hear it from you.
Because he never did even when it was a fully listed and tradeable stock.
I said goodbye to him a few months ago.
Check out Sam's post 53959 where he posted some information about getting rid of FASC during tax time.
Adam, why don't you as a company communicate with us?
Hi Ben,
Thank you for the email. FASC was delisted almost 10 years ago, in 2012. I don’t believe at this point FASC will be able to go public again but we are never sure what the future holds. In todays landscape with this pandemic we are just trying to survive, like many other companies.
I hope that answers your question, even it isn’t necessarily what you wanted to hear.
Kind Regards,
Adam
From: bounce+info.micronexsystems=gmail.com@b.atomicsites.net <bounce+info.micronexsystems=gmail.com@b.atomicsites.net> On Behalf Of WordPress
Sent: January 23, 2021 2:26 PM
To: dv.kovalchuk@gmail.com
Cc: adam@fasc.net
Subject: Contact form submit
Hello!
This is your contact form data:
First Name: Ben
Last Name: Feddema
Email: benfeddema@yahoo.de
Business Phone: +34635462159
Cell Phone: +34635462159
Title: Stockholder FASC
Department:
Company: Retired
Subject: FASC
Message: Please send me information of the stock from First American Scientific Corporation, wich I own now more than 10 years without receiving any information at all. If the company has seized to exist, please send me a message in writing so I have a possibility to close my foreign stock account at my bank as I can not close that account because of your stock still occupying that account so I have costs until the end of my live.. Thank you.
I was kinda looking for a specific IRS document to
cover the delisted stock, etc situation.
Besides "bad debt" notification with records.
PS
Looks like IRS Form 8949 is the one.
"You must file IRS Form 8949 to report worthless securities or any other securities trade relevant to your taxes. ... If you are simply reporting your security to be worthless, use the last day of the year as the sale date. In both cases, you can write "worthless" or write in zero as the sales price."
Here is Draft of my "Loss" letter for tax purpose:
(any comments)
MEMO
Sam Dehne
Reno, Nevada
Subject: Losses related to My Purchase of First American Scientific Corporation Stock (FASC)
Date: December, 2020
To Whom It Concerns, Including IRS
For a period of several years I purchased what amounted to more than
million (1,00,000) shares of FASC stock at various prices.
1. FASC was delisted several years ago and has not traded for many years.
2. There are no MMs and no place to trade the stock.
3. The company has been dormant with no information provided for over 5 years.
4. Thus I am adding up my stock purchases (see attach stock trade accounts) for the record.
To be used for tax loss purposes as needed and appropriate.
5. Stock loss total:
"Will this be the last post?"
I like the subtle reference to the bugle call. But now I've replied to your post, the answer is obviously no.
In the days to come you may wish to consider that even if "investing" in stocks is a zero sum game (it really shouldn't be, value should be created for all, not just management) then given the majority of ordinary FASC shareholders lost money - in some cases very large sums of money - into whose pockets did the money they lost go?
The answers to such questions are usually instructive.
Sept, Oct, 1/2 Nov. I guess that is it. But no
use turning out the lights.
Will this be the last post?
Good luck. Sorry you lost so much.
Thanks Charlie. My plan is to add up
all of my FASC purchases. (I'm using my personal
paper purchases records [package is about 1/2 inch
thick].. because I used more than one Broker and
some don't even exist anymore, etc)
And will calculate that total.. about $150,000.
And list that as my loss(es).
With a brief letter of explanation that FASC was
delisted and has not traded for many years.
PS
Now all I need is something profitable to use
this against.
:) :)
:( :(
ETRADE sent me a link which listed all my penny stock losers which are no longer trading and have no MM. All I had to do was click each box ($5 per) and then SUBMIT.
My bulk of FASC is in Fidelity so that's next. Hope it's as easy.
Adam was sad to get my email explaining my decision, but he appreciated my, and yours, long loyalty to the company.
Cheers, Charlie
Kinda like the last nail in the coffin..
after this (for me) 22 year odd-isee.
PS (stock loss) Worthless Securities and Your Taxes:
Normally, you must actually incur a capital loss before you can deduct it. In other words, you must actually sell your stock for less than what you paid for it. However, if your stock becomes worthless – because the corporation that issued it dissolved, for example, the IRS still allows you to claim a loss.
Your capital loss typically equals the stock's adjusted basis minus its sale price. The adjusted basis normally equals the price you paid for the stock plus any other amounts you had to pay to purchase the stock, such as broker's fees. If you cannot sell your stock because it is worthless, the IRS allows you assign a sale price of zero and use this figure to calculate your capital loss. If you sold your stock for pennies, on the other hand, you should use the actual sale price to calculate your loss. To the IRS worthless stock is that which is actually worth $0, not close to $0.
A little more info:
You report capital losses on Form 8949, Form 1040 and Schedule D. Prepare documentation that proves the stock is worthless and establishes the approximate date on which it became worthless. You don't have to submit this documentation with your tax return, but you will need it if the IRS audits you.
Charlie - ETrade? I was kinda sorta gonna
write off the millions of shares I own by
assigning it a value of zero.
Normally a person would show their accountant
what they paid for the stock and what they
sold it for. And difference would be the loss.
But I am not sure if ETrade (or TD, etc)
will even reflect a sale for the person.
When the stock is not even trading for
years and shows no value anywhere?
Hello all, I think it's time I pulled the plug on this company and start getting rid of shares on E*TRADE. I'll email Brian and Adam one more time to see what's happening, but I expect the same answers as last time, and the time before that...
Hope everyone has been able to avoid getting the plague.
Cheers, Charlie
Month and 1/2 since last "report" Seems a...
Seems a LOT longer. eom
Good to hear that Adam wrote back to you both. I wrote him twice and didn't get a reply.
The EU has adopted an investment plan for green deal with massive investments over the next 30 years.
https://www.economiesuisse.ch/de/artikel/eu-green-deal-ein-grossprojekt-mit-offenem-ausgang
A thought... from long ago.. that KDS
could grind virus killers down to
very fine grain.. to be used
everywhere?
Thanks Charlie. I'm doing the same and getting similar feedback. One thing is for certain. Green energy is starting to take front stage, as fossil fuels are becoming more prevalent and less desired.
The only problem with the above is that gasoline and natural gas are selling cheaper, and this has been exacerbated by the coronavirus fears. Oil companies are having major issues. Unfortunately, this doesnt always help the green market's competitiveness, in terms of pricing.
But the day is coming now soon. The signs are all there.
We were probably a few steps ahead of the game.....in terms of biomass....for oh those many years.
Thanks Charlie. Still holdin'....
I check in periodically and Adam always responds in the affirmative. Big projects just take a long time to get started (his words).
Can anyone verify that the company is no longer doing any business???
NOW YOU TELL US! That...
That taxi cab left the Rodeo about 5 years ago.
15 years.
TO ALL
Turn off the lights, the party is over! Elvis has left the building!
AND TO ALL A GOOD NIGHT!!!!!!!!
I am wondering if there is a statute of limitations on taking...
a tax write off against a company that has gone
silent, unlisted, defunct?
Pretty sure there isn't.
Haven't heard from CPAMAN in long time.
Happy Holidays.
STOCK LOSS WRITE OFF TIME.
I think it's time to take my FASC stock
purchase documents to my Accountant.
I'm not sure what document is needed to
prove the stock is worthless?
But he should know.
It's been a very very long
SAD journey.
It's not just the massive losses
from owning this stock. But also
the lost opportunity.
If I had put the money in
Apple or Amazon from 2000 to 2002..
I would be a $$ millionaire a 100
times over.
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First American Scientific Corp.
Innovators in Grinding and Drying Industrial Feedstocks
First American Scientific Corporation manufactures and sells the KDS (Kinetic Disintegration System) Micronex
The KDS Micronex grinder-dryer employs intense kinetic energy to simultaneously pulverize and dewater a wide variety of virgin and recovered materials into fine dry powders. The innovative vertical shaft impact mill design incorporates high rotational speed and high velocity air flows to achieve superior grinding and drying results without requiring supplemental heat.
Addition of supplemental or waste heat may be used to increase machine throughput. The energy used for drying can be as low as one-third the energy used by a drum dryer and no secondary grinding process is required. An internal classifier in the unit controls the output particle size to between 100-2,000 microns.
The production rate ranges between 1-4 tonnes per hour depending on the raw material characteristics and moisture removal required. While many conventional grinding or milling systems require dried feed material, the KDS Micronex can process materials containing up to 70% moisture and can reduce them to less than 10% moisture.
The KDS disintegration technology is patented in the USA, Canada, UK, Europe, Mexico, Australia, New Zealand, Japan, Malaysia, Korea and China.
The KDS Micronex system is marketed in various sizes and each model is customized to the buyer's requirements. The basic models are the S4, S6 and S8, plus there is a table top model designated the S2 and possibly an S3. FASC's licensees may use different names (e.g. MF-777 in Malaysia).
The acquisition cost of the model S8 varies from $300,000 to $400,000 depending on the application, auxiliary equipment, and the version chosen.
State of Incorporation: Nevada
Current A/S: 200,000,000 (Increased from 100,000,000 - March 7, 2000)
Current O/S: 199,952,195
Company officers information compiled from SEC filings:
John Brian Nichols, 77
- President, Treasurer, Chief Executive Officer and Sole Member of the Board of Directors
- Shares owned: 4,981,700
Cal Kantonen: DECEASED (February 1, 2011)
- Was Chairman of the Board of Directors, Chief Financial Officer, and Treasurer
- Owned 8,580,000 shares at time of death. Current status of estate unknown
Kelly Niavis, 39
- Replaced Cal Kantonen as Chief Financial Officer on January 26, 2012
Companies marketing the KDS (click on logo to visit its site)
Videos
FASC videos
BioDeposit videos
Wikipedia
FASC
KDS Micronex
Media
FASC's Home page
FASC's pictures of KDS installations around the world
Micronex Systems Inc. Home https://micronexsystems.com/
Micronex Systems Inc. Twitter https://twitter.com/micronexsystems?lang=en
Micronex Systems Inc. Facebook https://www.facebook.com/MiconexSystems
Companies involved with the KDS include:
Japan
JP Steel Plantech Co. / Kitagawa Iron Works Co., Ltd.
October 2005 JP Steel Plantech Co. named exclusive licensee in Japan
Certification (#0856) of the KDS Micronex as a waste water treatment device
KDS in use at Biomass Recycling Center Inc. in Okinawa Prefecture. The recycled wood waste will be co-combusted with coal.
From April 2012 Kitagawa Iron Works Co., Ltd. will be producing and selling such equipment.
Malaysia
QL Resources
June 2004, 50/50 joint venture established, Noel Wambeck named as engineer to implement palm biomass projects
July 2008 Neo Tek Siong (President of FASCM) and Brian Nichols (President of FASC) announce the joint venture is granted 5 year tax exemption by Government of Malaysia
July 2008 QL Resources enters into Cooperation and Reseller Agreement with First American Scientific Corp. (M) Sdn. Bhd. ("FASCM") to be their authorised reseller of KDS MicronexTM ("KDS"), a patented grinder-dryer in Malaysia, Thailand, Singapore and Indonesia.
"QLPP also entered into a Technical Collaboration Agreement with Ulimec Sdn. Bhd. ("Ulimec") through its designated specialists in attendance, Neo Teck Siong ("Neo") and Noel Wambeck @ Nurehsan bin Abdullah ("Noel") (collectively referred to as "Consultants") to engage their services to develop and market the "Palm Pelletising System" in Malaysia, Thailand, Singapore and Indonesia."
November 2009 Managing Director of QL Resources confident they can commercialize the palm biomass pellet system in FY2011 (ending March 31)
December 17, 2012 UN CDM Validation Report for QLTawau Palm Pellet Sdn Bhd, which includes 3 Kinetic Disintegration Systems as part of the registered system
May 9, 2013 QL’s Stabilised Biomass (EFB Pellet) Project Registered!
Joint Venture and License Agreements
Malaysia 50/50 joint venture - FASC Malaysia Sdn Bhd
June 7, 2004
First American Scientific Corp. finalizes joint venture agreement for the sale of KDS equipment in Malaysia
C.L. Kantonen, Chairman of First American Scientific Corp., is pleased to announce that the Company has reached an agreement with Ulimec Sdn. Bhd. to establish a joint venture company (First American Scientific Corp. [Malaysia] Sdn. Bhd.) to operate a KDS palm waste processing plant in Kluang, Malaysia and to market the KDS equipment to the palm oil industry.
In addition to earning royalties for all KDS equipment sold in Malaysia, FASC will share equally in the operating profits of the joint venture and retain a 50 % ownership in FASC (Malaysia) Sdn. Bhd.
Ulimec and its affiliate, Sawipac Sdn. Bhd., are major suppliers of equipment and expertise to the palm industry in Malaysia and to other countries in Southeast Asia.
Japan licensee - JP Steel Plantech Co / Japan Sub-licensee - Kitigawa Iron Works Co., Ltd.
October 25, 2005
First American Scientific Corp (FASC - OTCBB) announces signing of exclusive agreement to license KDS technology in Japan
Vancouver, BC: Brian Nichols, President of First American Scientific Corp. (FASC) is pleased to announce the signing of an exclusive license agreement for manufacturing and marketing the KDS System in Japan with JP Steel Plantech Co.(SPCO) of Yokohama, Japan.
JP Steel Plantech Co. is a well established engineering company formed in 2001 by four Japanese steel industry giants ; Kawasaki Heavy Industries (KHI), Hitachi Zosen (Hitz), JFE Engineering (JFE) and Sumitomo Heavy Industries (SHI).
The alliance was created by consolidating the resources of these four major Japanese integrated iron and steel plant equipment manufacturers to lead the world in production technology and product quality. Their corporate mission is to contribute to the development of the world's steel industries, as well as the protection of the global environment. As the exclusive KDS licensee in Japan, they will marshall world-class iron and steel engineering
resources and state-of-the art environmental technologies to ensure the successful launch of our marketing efforts in Japan.
Mexico licensee - Sodif S.A. de C.V. (developer of Naturelo® earth-friendly nixtamalized corn four)
In June 2007 we signed an exclusive marketing agreement with Sodif S.A. de C.V. in Mexico. One condition of exclusivity was that they purchase a demonstration machine and adapt it to the local market conditions. The machine has been delivered and is operational.
Naturelo website
Eastern USA licensee - Cover Technologies Inc.
In October 2008, we signed an exclusive marketing license with Cover Technologies Inc for the states of New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Vermont, New Hampshire, Maine and Florida. One condition of exclusivity was that they purchase a demonstration machine and adapt it to the local market conditions. The machine has now been set up and is operational. The customer is now developing applications for the paper and biomass industries on the eastern seaboard of the USA. No other KDS machines have been sold so far under this agreement.
CTI Micro-Reduction Technologies, LLC website
South Korea licensee and 50/50 joint venture - JP FASC Co., Ltd.
June 16, 2009
First American Scientific Corp. (OTCBB: FASC) is pleased to announce it has acquired a 50 % interest in JP FASC Korea Co. and signed a new exclusive license agreement to manufacture and market the KDS technology in South Korea. Operating under the name "JP FASC Co., Ltd", we will jointly, in conjunction with our Korean partner, setup a fully operational KDS processing facility in South Korea to showcase our technology.
Brazil licensee - FASC Brazil Ltda.
On November 11, 2008, the Company singed an agreement letter of intent to form a joint venture to be named First American Scientific Brazil Ltda. for the manufacture, marketing, and operation of KDS equipment in Brazil. This agreement, if formalized, will result in our ownership of 50% of a newly formed Brazilian joint venture corporation named FAS Brazil Ltda.
Latvia licensee - SIA EHT Engineering (developer of BioDeposit® organic fertilizer)
In October 2009, we signed an exclusive marketing agreement with SIA EHT Engineering for Latvia, Lithuania, and Estonia. One condition of exclusivity was that they purchase a demonstration machine and adapt it to the local market conditions. The customer has developed a unique algae-based fertilizer which it sells in Northern Africa. The first demonstration machine was delivered in 2009 and is operational.
EHT Engineering website
BioDeposit website
Patent Information
North America
Device and Method for Comminution - US Patent # 6,024,307 and Canadian patent # 2,218,429
A patent was issued for the KDS as for a "device for comminution" on November 24, 1998, and its U.S. patent number is 6,024,307 with additional patent applications filed in Australia, Canada, Europe (EEC), Finland, France, Germany, Ireland, Italy, Mexico, New Zealand, Spain, Sweden, Switzerland, and the United Kingdom.
Cryogenic Comminution of Rubber - US Patent # 6,655,167
On April 20, 2001, the Company filed a patent application in the United States to protect its research into developing a process for cryogenically freezing non-tire scrap rubber and processing in into a micro-fine powder using the KDS equipment. This patent has now been issued.
Method of Recovery of Precious Metal and Heavy Minerals - US Patent # 6,682,005
On May 4, 2001, the Company filed a patent application in the United States to protect its research into developing a process for disintegrating and separating precious metal from hard rock without the use of chemicals. This patent has now been issued.
February 25, 2009
Recovery of Fuel and Clay from a Biomass - US Patent # 7,481,385
Japan
February 15, 2010
Recovery of fuel from biomass
June 13, 2010
A Comminuting and Drying Method and its Process
Other Countries
Additionally, FASC holds patents in the UK, Europe, Mexico, Australia, New Zealand, Japan, Malaysia and Korea.
Research and Development
Hong Kong - JCL Engineering Ltd.
May 26, 2010
First American Scientific Corp (FASC - OTCBB) signs agreement with Hong Kong engineering firm to build KDS pilot project at Beiqu Wastewater Treatment Plant in Zhuhai, China
"The Zhuhai project will include First American's patented KDS pulverizing equipment coupled with JCL's proprietary dewatering filter system to be designed for the treatment of sewage sludge and other related applications in China. Upon successful completion of the trials, the pilot plant will be used as a show-case in promoting the technology in the China market. JCL will provide all personnel and resources in China to construct and operate the plant."
10-K update for fiscal year ending 06/30/11: The Company has reached an agreement with a Hong Kong engineering firm to run demonstration trials processing sludge from a waste water treatment site in Mainland China. Formal plans and documentation have been finalized and the machine has been shipped. The project, if successful, will result in the sale of one KDS machine, and could expand to include further multiple sales.
JCL Engineering Ltd. website
Prince George, B.C. wastewater treatment [PROJECT DEAD]
October 31, 2005
First American Scientific Corp (FASC - OTCBB) signs agreement with the City of Prince George to install KDS Micronex equipment for processing sewage sludge at their wastewater treatment facility
Brian Nichols, President of First American Scientific Corp. (FASC) announced today the signing of an MOU with the city of Prince George, BC, Canada to assist in solving its environmental cleanup problems with sewage sludge using the KDS Micronex system. "This will be the first operation of its kind in the world, says David Dungate, FASC's VP of marketing, where the strictly regulated Class B municipal sludge can now be cleaned, bagged and profitably sold to the public as a soil amendment." The initial runs will be monitored for three months, and if satisfactory, the city plans to establish a permanent facility utilizing up to 4 micronizers.
According to Dayton & Knight, the city's consulting engineers, "the series of tests undertaken this summer 2005 at FASC's Vancouver demonstration site confirmed the ability of the KDS Micronex to consistently convert Class "B" biosolids to Class "A" biosolids and achieved an effective pathogen destruction rate of 99.9 % in all test samples"
FASC believes the KDS Micronex could become the preferred universal solution for handling Class B sludge by converting municipal waste into a valuable resource. With the successful showcase of our system's ability in Prince George, Canada, we could see our system in use all across the developing world.
There are approximately 15,000 municipal wastewater treatment plants in North America alone that process almost 34 billion gallons of domestic sewage and other wastewater each day. In Asia and Europe the markets are even larger, and FASC is well poised to service those markets through its established network of licensees and affiliates in the U.K., Poland, the USA, Canada, Malaysia, and Japan.
Pilot Testing of the Micronex™ System to Produce a Class A Biosolids - A report by Dayton & Knight Ltd., Vancouver, B.C.
10-Q update for quarter ending 03/31/09: Phase II is underway at our Abbotsford site where some design changes and modifications are being made to handle the much wetter municipal sewage. Results will be announced as they materialize.
Update: This project was not listed in the subsequent 10-K (period ending 6/30/2009) or any filings thereafter.
WRAP Project Explores New Projects and Markets for Paper Mill Sludge [PROJECT FINISHED]
March 2007
A New Approach to Paper Mill Sludge
As part of its programme to encourage the economic use of recycled fibre, WRAP identified a novel process in Canada - the KDS Micronex, which uses relatively low energy input to treat paper mill sludge through centrifugal action to produce a commercially dry material which can be separated through vibrating screening into a fibre fraction and a filler fraction.
10-K/A-1 update for fiscal year ending 06/30/08: In December 2004, a KDS Model S-4 was shipped to Aylesford Newsprint in London, England for trial runs and evaluation. The testing is now complete and a final report was issued in April 2007.
The KDS machine has been relocated to a new mill in Northern England where it awaits new funding to continue the research.
Research in conjunction with Oak Ridge National Laboratory [PROJECT FINISHED]
U.S. Department of Energy Small Business Technology Transfer - Phase 1 Award
Combined Drying and Grinding of Biomass in One Operation
June 12, 2003
First American Scientific Corp (FASC - OTCBB) wins competition for research grant awarded by United States Department of Energy
First American Scientific Corp. ("FASC") is pleased to announce that the Company has been selected for a Small Business Technology Transfer (STTR) Phase I Award ($ 100,000 USD) by The United States Department of Energy. The grant will provide funding to continue research to enhance and improve the KDS Micronex biomass drying and grinding capabilities. Working with FASC on the project will be Oak Ridge National Laboratory (ORNL) of Tennessee,
represented by Dr. Shahab Sokhansani, PhD, P. Eng, a world renowned and published expert in Bio-energy systems.
U.S. Department of Agriculture Biomass Research Initiative grant
July 26, 2004
First American Scientific Corp. selected to participate with the University of Tennessee in USDA Biomass Research Initiative
First American Scientific Corp. (FASC.OB) announced today that the United States Department of Agriculture has awarded a grant of $717,399 USD for research to be conducted by the University of Tennessee, Oakridge National Research Laboratory and First American Scientific Corp.
University of Tennessee/Oak Ridge National Laboratory/FASC slide presentation
University of Tennessee website for USDA-DOE biomass project
FASC SEC Suspension for Financials / Filings delinquencies and Revocation:
Order:
http://www.sec.gov/litigation/suspensions/2015/34-74778-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2015/34-74779.pdf
Warning post on Feb 22,2015:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=111051970
Revocation by SEC:
http://www.sec.gov/litigation/admin/2015/34-75419.pdf
This ticker will never trade again.
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