Married
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nice to see that in two years all of the predictions of glory and wealth have come true. Nice to see that Brooklands was actually the white knight many here predicted. Nice to see that the much discussed super secret merger came through with them.
CW, I'm glad to see that you're realizing the fraud that is once again being attempted. D yourself a favor a look into what is a marketable "Public Shell" and what attributes make it viable. You will find that this so called Shell has no value, is laden with litigation, and has IMHO absolutely zero value.
What you are seeing in volume is once again pump and dumpers using unethical stooges to create an aura of interest so as to get the unsuspecting to read a lot of the double talk and buy more worthless shares. It costs them nothing therefore its a risk free proposition.
I havent owned the stock since 2011. It was obvious after a few months that there was no business. They ran a classic pump and dump using death spiral debentures. It was right out of the mob's involvement with Hanover Sterling in the early 90's. Roy Ageloff is still in prison.
Under RICO, a person who is a member of an enterprise that has committed any two of 35 crimes—27 federal crimes and 8 state crimes—within a 10-year period can be charged with racketeering. Those found guilty of racketeering can be fined up to $25,000 and sentenced to 20 years in prison per racketeering count. In addition, the racketeer must forfeit all ill-gotten gains and interest in any business gained through a pattern of "racketeering activity." RICO also permits a private individual harmed by the actions of such an enterprise to file a civil suit; if successful, the individual can collect treble damages (damages in triple the amount of actual/compensatory damages).
When the U.S. Attorney decides to indict someone under RICO, he or she has the option of seeking a pre-trial restraining order or injunction to temporarily seize a defendant's assets and prevent the transfer of potentially forfeitable property, as well as require the defendant to put up a performance bond. This provision was placed in the law because the owners of Mafia-related shell corporations often absconded with the assets. An injunction and/or performance bond ensures that there is something to seize in the event of a guilty verdict.
In many cases, the threat of a RICO indictment can force defendants to plead guilty to lesser charges, in part because the seizure of assets would make it difficult to pay a defense attorney. Despite its harsh provisions, a RICO-related charge is considered easy to prove in court, as it focuses on patterns of behavior as opposed to criminal acts.[4]
There is also a provision for private parties to sue. A "person damaged in his business or property" can sue one or more "racketeers". The plaintiff must prove the existence of an "enterprise". The defendant(s) are not the enterprise; in other words, the defendant(s) and the enterprise are not one and the same. There must be one of four specified relationships between the defendant(s) and the enterprise: either the defendant(s) invested the proceeds of the pattern of racketeering activity into the enterprise; or the defendant(s) acquired or maintained an interest in, or control over, the enterprise through the pattern of racketeering activity; or the defendant(s) conducted or participated in the affairs of the enterprise "through" the pattern of racketeering activity; or the defendant(s) conspired to do one of the above. In essence, the enterprise is the illegal device of the racketeers. A civil RICO action, like many lawsuits based on federal law, can be filed in state or federal court.[5]
Both the federal and civil components allow the recovery of treble damages.
Although its primary intent was to deal with organized crime, Blakey said that Congress never intended it to merely apply to the Mob. He once told Time, "We don't want one set of rules for people whose collars are blue or whose names end in vowels, and another set for those whose collars are white and have Ivy League diplomas."[4]
BTW, I think that not only was it an illegal sale of assets. I believe it was a frauduent bulk transfer. There is enough pattern here for both a civil and a criminal RICO charge I think they should peel back this onion in public. The SEC has no criminal authority but the DOJ sure does.
your last point should and will be interesting indeed.
Yes I am.
so now we have a bid...rotflmao
how predictable these people are
curious how the ask has gone up and there is no bid and zero volume... i smell a play in the making to lure people in.. imho, if anyone gets the chance to dump they should.
CW, im sorry for you, no bid is a fairly common way that a death spiral ends. If you could scope it you'd see that the bid here was often artificial
I guess Bayer isn't going to buy them.
That's a great idea. Let me know when you've put that together.
good enough for me
Thanks, if you've made a call it's not worth to replicate.
Hi CW, what makes you think that? Thanks in advance.
i passed on putting a penny in the gumball macine and expanded my secret holdings
i did, i burped... got twice as much out of the deal as i could have with continuing my massive secretive accumulation
Thinking seriously about getting a burger for lucnh or do i spend it on 90,000 shares of ASFX.. The pressures of being a secret accumulator of ASFX
Blew another $8.45 today
I spent $68 today to add to my secret holdings of ASFX
I'm still accumulating, tripled my holdings today
Re Amazon, keep in mind that the last time I looked at the reviews they were 95% planted. That is to say that the glowing reviews were all by insiders or paid pumpers.
The true reviews were about 25% positive and the rest negative.
That being said all of the data therein is dated at best.
I have always believed that you can effectively market anything assuming that what's inside the package is not blatantly no-performing. And that the presentation is effective. But most importantly that individuals piloting the marketing vessel know what they are doing.
all that considered, regardless of the realities of thos criteria, this does nothing to benefit the ASFX shareholders, other than prvide real ammunition to pursue the "Illegal Bulk Transfer" which is in my opinion what transpired here.
Someone should steer the DOJ approved Trustee and present a case for theft of intellectual property (brand, etc) and bankruptcy fraud. It may be his best shot to earn some real money besides the limited fees that the Bankruptcy court pays him.
Streett
Tuesday, January 22, 2013 6:47:56 PM
Re: rmann123 post# 54688
Post # of 54837
In re
UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF FLORIDA FT. LAUDERDALE DIVISION www.flsb.uscourts.gov
AMERICAN SCIENTIFIC RESOURCES, Chapter 7
INCORPORATED,
Debtor /
Case No. 12-14640-JKO
NOTICE OF WITHDRAWAL
The Debtor, American Scientific Resources, Incorporated, (the “Debtor”), by and through undersigned counsel, withdraw the Debtor’s Motion for Entry of an Order Converting Bankruptcy Case to a Case Under Chapter 11 of the Bankruptcy Code [ECF# 71].
I HEREBY CERTIFY that I am admitted to the Bar of the United States District Court for the Southern District of Florida and I am qualified to practice in this Court as set forth in Local Rule 2090-1(A).
EHRENSTEIN CHARBONNEAU CALDERIN
Counsel for the Debtor
501 Brickell Key Drive, Suite 300 Miami, FL 33131
T. (305) 722-2002 F. (305) 722-2001
that is good news on the pup.
I understand your question I just dont see how, why or with what it could convert. The Brooklands move effectively ended any relationship between ASFX assets and the company.
In laymens terms; Brooklands has no connection to ASFX. While the two perpetrators of the theft, which is what my opinion is of what the bulk transfer (please look up that term)was in effect, the two individuals and their interest are apart and away from ASFX.
The Involuntary CH 7 was filed by certain investors hoping that the bankruptcy court would in effect act as their attorney and by using their resources and wide ranging powers, they would unwind the transaction. I was honestly surprised that the serious investors here didn't try to align themselves with that and attempt to file an "Amicus Brief" adding weight to the claim. However an AB requires written consent of all the parties and I can only assume that everyone had some slime on their hands and probably didnt want any friends of the court (literal translation of AB)getting involved.
The move to try and convert was in my opinion a reasonable measure but when the trustee said he had to be paid, it was withdrawn.
Im not doing anything other than giving you straight vanilla. I personally I see no way out. But there is always hope. Personally I salvaged 40 cents on the dollar of my losses via a Schedule D. So $20k became $12k. Thanks for your concern but I am fine.
ASFX shareholders have no legal standing, association or connection to Brooklands. I have revisited the conversion and ASFX (howard ?) has withdrawn its motion to convert. When the trustee demanded to be paid he or whoever bailed out.
There will be no conversion and the CH7 liquidation will occur. The shareholders are last in line to receive anything. From what I have seen, the trustee will likely get whatever comes out of it, otherwise the Bankruptcy court has to pay his fees.
There is nothing of value that I can see. But please keep in mind that I am not a cheerleader by nature. I am a capitalist and a business person. I look at facts and figures. Maybe that's why I was able to retire before I was 50.
I sunk about $40k into this because I thought I knew more than the pro's. Due to a rumor that I felt was pretty solid that a real CPG heavy weight was taking over as CEO He denied it anytine I asked. He would never answer any other questions about it, so I have no way of knowing.
But when I started reading posts on here (my first pinkie..and last)I realized my broker knew exactly what this was and I cashed out and lost maybe $20k.
My partner in most of my dealings (and here) was shocked that I got in but he went along with it and he really did a lot of due diligence. What stuck out like a giant sore thumb to him was the totally inept and unqualified management. That is what the markets usually base their bets on. This was truly a clown car of mismanagement and too cute by half really slimy people. I do think that the Doc got swindled and he let his self imporatance do the thinking.
I always try to post facts, never rumors. I was honestly horrified when I really understood what a scam this whole thing was and more than a few people were in this stock that had no business being in it.
Keep in mind and you can go back and look at the history, the people that were crying basher, could never refute my postings, just tried to deflect and distract as to why I was here.
In actuality you were one of the primary motivators for me. You posted something about your dog being ill and not being able to take care of it how you'd like. Sooooo
A lot of unscrupolous people were talking to da moon etc.. I believe there are still some lurking around trying to facilitate a much smaller perhaps, but still a dunp of Death Spiral conversion shares.
Southridge has a history of SEC FINRA and NASD Sanctions for the exact same thing.
I have posted that here in detail.
If you don't read the filings, the financials, and most importantly the footnotes to the financials, you will never be able to decipher what the real situartion is. The real story is alway in the footnotes.
Good luck, CW.
Captain FYI
zt12 Member Profile zt12
Tuesday, September 11, 2012 11:18:13 PM
Re: familyguy6 post# 46543
Post # of 53335
That's classic toxic death spiral financing that Steve Hicks at Southridge has been accused of doing numerous times. It's noticeable that they changed their name from Southridge Capital to Southridge Partners II. Perhaps that was a ploy to escape all the bad press they have received for manipulating prices and toxic death spiral financing and being investigated by the SEC and Manhattan DA's office adn the Ridgefield Police Department: http://www.forbes.com/2009/10/07/sec-southridge-capital-business-wall-street-southridge.html
When a company like Southridge gets investigated, they also investigate the companies who receive the financing which can hurt that company's stock price as well.
http://www.forbes.com/forbes/2002/0610/046.html another interesting article on how southridge destroyed companies it was supposed to help.
Captain, a quick comment. It's very common to have a stock that has (in this case had several) a death spiral financing, for the death spiral note holders to convert shares (at effectively no cost) then hold back and create an aura of demand, making the price appear to be rising or potentially rising, then when there is enough shares being bid for at whatever price, since it's all profit, they dump the shares to the bids and the stock collapses again.
I believe that if you due dilly them, you may find that Southridge has been tagged more than once by FINRA as well as the SEC / NASD for this type of manipulation.
I've seen this here on ASFX at least half a dozen times.. Always there are what the SEC defines as "pumpers" who talk about coming news, potential big deals etc...
They get paid based on how many shares are dumped. Not by the post.
When the price is this low I would doubt that they would move for less than 10,000,00 shares. The fixed costs are simply not worth the trouble.
i had read that h taylor withdrew the request to convert, maybe im wrong
I understand your point. But $600. is not big support in my world. Particulalry when the debt holders got 10's of millions of conversion shares for zero money.
Thank you Capt. I completely agree re the actions of Roth and Faber. While some posters here at the time were touting Brooklands as a simple name change and that would also be a GREAT THING the subsequent legal crossfire certainly debunked tyhat theory.
However I dont agree with your cocnclusions. This action was as I understand, part of the effort to convert to a Ch 11 reorg via an adversarial proceedure. That action was challenged when by the Court appointed trustee demanded pmt.
Once that occured the petitioner in the person of Howard Taylor withdrew his motion to convert the CH 11 petition.
In my opinion counsel for Brooklands was not being paid by Roth, Faber et al. and like the courted appointed Trustee opposed the Motion to convert to CH 11 for lack of payment, they withdrew they representation of Brooklands.
Where it stands now is that ASFX is in an involuntary CH 7 petition.
If you can provide a link I can review the file again and perhaps agree with some or all of your opinions or perhaps point out specific elements that support my theory.
Thanks for a civil and thoughtful response
Capt, can you please post a link that tells you about the ASFX v Brooklands suit, thanks
ok...good luck with that theory
whose buying? and how would the attys withdrawing be a good thing?
a logical interpretation might be that Brooklands isn't paying them, which is the reason more than 95% of withdrawal petitions happen. That would lead most people to assume they have no money. I'm sure that's because sales are booming.
Greenberg Traurig is a huge firm. The individual attorneys do not get to make these calls. The practice area managers make these calls.
Of course if someone is trying to gin up false hope in an effort to facilitate yet another round of pump and dump..
Thanks, I don't know how much you're holding on ASFX, but you may want to offer them to Eventhelosers. He's very anxious to buy more shares.
thank you
EDIT:
I guess this must mean that there is big news coming. Probably a good time to stock up on ASFX shares. There are over 40,000,000 available for private sale as per my broker. If any of you like send me a private message with contact info and I will send you infor on the individual brokering the private sale. .00005 per share.
Buyer will have to pay a fee directly to the atty, not sure what that would be but you can assume $500. Buyer will have to put money in escrow ans submit "Qualified Investor" Questionaire and execute a hold harmless agreement. Atty's conditions, not regulatory requirement,
Anyone who has posted here their desire to buy cheap shares, here's your shot.
I have no role in any of this. I know nothing about the seller. I hold no shares and will not receive any benefit directly or indirectly and this is not a solicitation or offer to sell. Once I forward contact info, I will have no knowledge
CW, Can you copy paste?
Suckers are born every minute. When people of dubious character come on here and start talking about big news and accumulation and buying cheap shares... well you can finish the sentence.