Married
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I no longer own shares, Im still pissed and highly curious. But I hope for your sake and that of the other serious investors (read; not pumpers)that it does somehow survives.
If Christy is correct, and Roth is gone you may have a shot.
I no longer own shares, Im still pissed and highly curious. But I hope for your sake and that of the other serious investors (read; not pumpers)that it does somehow survives.
If Christy is correct, and Roth is gone you may have a shot.
unless management is totally incompetent and irresponsible and spends money it doesn't have
if someone can explain why incur the cost of the move, particularly under the current financial black hole, the shareholders might want to hear the explanation and rational.
OBI, please, the concept that they have "SECRET PENDING DEALS" is laughable. You are better than this.
and their shipping costs will increase significantly, unless they are using UPS & FEDEX
my best guess is that its in Boca Raton... just a guess... lol
What's your take Dog?
Dog, in regards to OBI, at least he is clear on the fact that there is no value in the company, products or management, he's simply trading a vaporous apparition. He's not out there screaming "To Da Moon" "everything is looking good" or other like nonsense. Rumor has it that they have a major problem with the some of the trade related to the recall. Not being able to pay retailers for the goods they returned. The company acknowledged that some customers discontinued the Therm because of the the recall. Maybe they have not been able to pay those customers the money they owe them for the return of the goods and the penalties associated with the recall.
obviously there was no real news, many here were promoting that it was huge news and that we'd see it this morning. no activity on the stock so far this morning, so I cannot imagine people were flying out the door to place their buy orders.
obviously there was no real news, many here were promoting that it was huge news and that we'd see it this morning. no activity on the stock so far this morning, so I cannot imagine people were flying out the door to place their buy orders.
i only saw him speak once and he was wioping his nose with a "USED" hankie every 5 minutes, it was not pretty, he did not look sick, it looked more like a habit or nervous quirk.
I have seen him speak before, have you? It was awful.
Hopefully Dr T didn't wipe his nose constantly during his spiel
good luck OBI! hope you get your number.
You can't be serious CFG. Roth is a management team?
this is kindergarten stuff. If a real due Dilly was conducted on the company, it would be a horror show.
Everyone's background, the lawsuits, the financing structures.
Thats why I am so sure that the only deal that c ould be done would be a bulk transfers, which the creditors would never allow. Now that their sales are also hypothecated it gets very very difficult. They have now lost all control of their assets.
i have no issues with your approach and I say that clearly, you are up front. Dont pretend that there is some secret nugget here like others do.
one thing is to say, as does OBI, this is monopoly money. Im taking a chance on landing on Free Parking, if I do I will clean up where others lost.
Its a whole other thing, to drop posts that say there is a buyout in the works etc, etc,
I'm sitting here thinking, that these are really simple deductions that I am making with out researching anything other than stuff the company says.
It takes like no effort to come to a simple connect-the-dots conclusion.
I then think about the posts about being bought out. If any idiot did a very shallow cursory due diligence review on ASR, they would drop dead on the spot when they saw any top line balance sheet. God forbid they dug into the footnotes.......
The very thought that anyone would genuinely suggest that its even a remote possibility, is insane.
my guess is that their financing blew up, if it ever existed (at least in the way they suggested.
They somehow felt they needed these finished goods (maybe a conforming component of yet another debt instrument somewhere)
Only way to get the goods, they in effect borrow to place order and in effect spend approx $150k in interest and free shares.
Seeing as how in the best case scenario they make $7 gross per unit less about 5. in fixed costs like broker commissions, that leaves $2 bucks times 40k units is $80k gross profit best case, back out roughly $150k as above in cost of borrowing, and you have a net $70k loss plus on these 40k units
CFG, long time...
interesting times we live in. I don't know that I agree with you re 8 new control persons.
The notes could be layered on each other (mitigates risk) to one or more persons.
It just seems that the situation is desperate. they are paying 8% plus almost 25% in finders fee (shares) AND mortgaging the inventory they have on hand. Go back to the K and you will see inventory on hand about 200k to 250k or about 1250 to 1300 units. Unless my memory fail, lol wouldn't be the first time. But where are the 40,000 pieces at. Is that the inventory on order? Did they need this money to buy the inventory? If so why? What happened to the many financing deals announced or intimated via facebook?
Hey Wilson, can you please explain how this is selling 40,000 units? What I read is that they have encumbered 40,000 units and any sale of those units will be subject to their approval and the redirection of those funds. In our experience, no retailer would ever do this, I can absolutely guarantee you that. So can you please explain how this is in effect a sale of 40,000 units? You have any inside scoop?
Thanks
am I missing something or did they pay a "Finders fee" of almost 100k in shares for these notes that carry an 8% or conversion at less than a penny?
I see its not at $5 per share yet
funny as hell under the circumstances
go asr
BTW, the suit in So Florida was dismissed "WITHOUT PREJUDICE". that means that there is a settlement, and if they default on the settlement, the other party can easily and quickly re file the lawsuit.
unfortunately the products are on precious few shelves, as they have degraded to a mostly dot com customer base. Re legal fees, unless I am missing something, the Tecnimed suit has not gone away and that will be the cash burning beast, and they keep on making things worse........
at the end of the day, its trading at .0016 pre-split. I remember someone who shall go nameless, posting that the PPS was up 28000 percent because the R/S took the PPS from .0045 to 60.
that's fine, I buy it. Keep in mind however, that there some incredibly unscrupulous folks that are posting/saying the company is being bought by J&J, that there is huge contract coming from Bayer and all sorts of insanely and blatantly false made up stuff. Saying that they are holding up PR's for some Machiavellian scheme that will pump up the PPS.
These are the people that I will hound. OBI is straight up. The company, its management and the products are ignorant bystanders in a giant shell game.
Thank you Aeioux,
I have 35 plus years of experience in CPG company boards and ownership.
Here is MY take;
The premise of this company is fine. Sell somewhat innovative products in traditional product categories to a wider marketplace.
The thermometer product is ok. Not the end all that some here try to claim. The NDD is in my opinion (and that of others as well)a non item. Its only real acceptance was as a dealer loader / consumer premium. That was a very small piece of business and its unsustainable.
Ironically in my opinion, the Mebby products are possibly the real sleepers here. Good branding and presentation, wide universal applications, relatively low pick-up pricing and the ability to develop significant brand awareness. That being said, based on the Roth deal, the recall and its catalysts and the limited public knowledge of management's modus operandi, unless i knew the structure of the deal with Mebby its hard to tell if there is any real money to be made and if they are protected if they build it into something. Unfortunately they have shown total ineptitude at negotiating anything and lost in developing a profit driven strategy.
Management is truly clown car caliber. The Roth deal makes no sense in its current form. he adds no value and has no apparent verifiable bona-fides in the branding and operational management areas. Doc T could take a huge fall here.
They have done things that are truly stupid. They had people trying to manipulate consumer product reviews with planted reviews. Unfortunately in the case of Amazon, they have an internal filter to identify such fake reviews and apparently a significant majority of the reviews were found to be planted/fake.
The insanely stupid actions of management that led to the recall were really bush league.
The waste and abuse of resources that come from the incessant trips to trade shows etc., that could easily be covered (if remotely necessary) by the sales representation firm. I would venture to guess that they are already going to these. this has been a series of trips with no results... and it continues unabated.
All in all this is a vapor. No one of any consequence is going to acquire the company. Generally speaking there are no contracts in the retail arena. Your last purchase order is the only agreement that exists.
If someone was interested in this as a real business they should wipe out the Roth / NDD deal, recast the Mebby business and clean house.
but of course management's disenfranchising of the shareholders makes all this moot unless they buy out the business.
Best move may be to put the company into chapter 13, renegotiate the debt. clean up the balance sheet and start over.
The company has an odor to it with the recall, its many missteps in many areas and the widely known financial black hole that it is. The trade is going to be very distrusting and hesitant to do anything beyond dot com and any shelf inventory is going to be highly limited.
In a nutshell
im 100% clear on this dynamic. I sold off at a significant loss. Now Im here observing and commenting.
I think your position statement is honest, frank and candid. I get it.
What I will not allow to happen is when hypers come on here talking about big contracts etc.. They are lies. End of story.
They can insult me or deride me but I will speak my mind.
Everything that i have said could happen and probably would happen, has in fact happened.
from the costs associated with customer returns to the trade's rejection of the product at the store level, to the reality of customers dropping the company's products.
I hope you cash out big OBI, you are up front and don't come on here singing the praises of the products and their circus management. Someone on here referred to it as clown car management..very accurate
fair enough, you acknowledge that the company is a non entity and this is simply about trading a vapor. I fully accept that the PPS and the underlying equity has no relationship to the operations of the company.
OBI, even in Pinks, eventually gravity works. The machinations and shell games can only go so far. The company is barely alive. Cash is non existent and sales are being achieved via immense discounts. The price image of the retailers is highly degraded. The lawsuits are cannibalizing time and $.
there continues a parade of trips to shows and meetings that have not yielded the results.
This is a failed company. It is insolvent, illiquid and has no operations to speak of.
1/3 rd of a pallet a day. If you stop and think it through, now the only real asset is the NOL. Unfortunately an acquisition is highly unlikely and zero chance by a solid company.
They should file ch 11, arrange a merger post petition being granted and let a real management team takeover. Of course the shareholders get wiped out but that's really were they are at in my opinion.
of course since they crushed the shareholders there is no accountability...zero.... zippo...zilch...nada
so management can do what it damn well pleases.
in a normal company where management is accountable to its shareholders the NDD / Roth deal would be abrogated. I have always said this should have ben a royalty deal and nothing more. No Roth, no contracts, no equity unless performance is achieved.
sure reads different than the facebook stuff, if memory serves me the recall wasn't even a hiccup, heck it really poised them (yeah I know..)
now it was downright calamitous.
Fantasy World News Network,
Corporate Update Q1 2011
Corporate Update Q1 2011
American Scientific Resources, Inc. (“ASR”) closed its first 2011 fiscal quarter with revenues of $101,247, which is 42% less than the $175,623 of revenues reported the same quarter last year. The lower revenues were due in large part to the repercussions of the packaging recall. The recall is complete and ASR does not expect, as of the date of this corporate update, any further material service interruptions. As a result of the recall, ASR has significant inventory of VeraTemp thermometers in-stock, which will, among other things, fulfill the potential orders of new retailers that were obtained by ASR during the period of the recall. ASR also believes that its international distribution will grow based on recent purchase orders and international approvals.
Recall Background, Issues and Challenges
In late 2010, ASR received a complaint from an Italian non-contact thermometer manufacturer that alleged that there could be confusion in the marketplace due to the similarities of images, colors, and phrases in ASR’s packaging of its thermometers as compared to such manufacturer’s packaging of its product. and that such similarities constituted violation of “trade dress.” While ASR disagreed that it violated any trade dress issues, it did not want to be confused for the Italian product, which it believed had a poor reputation in the U.S. market. Therefore, ASR complied with the preliminary ruling and completely redesigned the packaging for its VeraTemp thermometer by changing the colors, prominently displaying the name VeraTemp and adding new artwork.
As a result of the recall and all the factors described below, management believes that ASR lost at least seven weeks of production and sales. One such factor is that in addition to the changes in packaging, ASR needed to redesign the website and reprint the instructions, insert card, and quick start guide, and have them delivered to ASR’s facility for repackaging. Further, during the recall, all thermometers remaining in distributors’ or retailers’ possession were recalled or destroyed in place. Product that was recalled and shipped back to ASR was repackaged with the new design and prepared for shipment. However, before ASR could ship out its products with the new packaging, retailers had to issue new purchase orders, which caused further delays, caused confusion among ASR’s retailers and strained ASR’s sales personnel, who had to spend time on damage control on existing accounts rather than developing new accounts.
Management believes that the recall and packaging issues have been resolved and that the impact on the customer base has stabilized. To date, ASR has lost only one distributor customer that purchased approximately 100 thermometers since September 2010. Because ASR values all of its customers, it will try to regain the distributor as a customer.
New Customers and Growth
While dealing with the practical matters of the recall, ASR was able to expand the number of U.S. retail outlets that will carry the Kidz-Med VeraTemp non-contact thermometers, complete CE marks and Health Canada certification for export, set up new distribution channels abroad, and ship to international customers. For example, ASR was able to establish a relationship with Ahold, an international retailing group, to purchase Kidz-Med VeraTemp non-contact thermometers. Ahold has already ordered Kidz-Med VeraTemp for its Giant Carlisle-based stores, and ASR hopes that Ahold’s other stores, Stop & Shop and Giant-Landover, will make similar orders in the fall.
In addition, the American Pharmacy Cooperative, Inc. (“APCI”) has placed an opening order for Kidz-Med VeraTemp non-contact thermometers to meet the needs of its 130 independent pharmacies located in Alabama, Florida, Georgia, Kentucky, Ohio, and Tennessee. ASR is also participating in several APCI promotional events that target independent and regional pharmacies.
ASR has also targeted growth in the online retail market. Kidz-Med VeraTemp non-contact thermometers, which are already being sold on Amazon.com and Daipers.com, has expanded its online presence by becoming available on the online sites of Walmart, Costco, Target, and Drugstore.com. ASR is currently working on making the Kidz-Med VeraTemp non-contact thermometers available on the online sites of Walgreens.com, Toyrus.com and Samsclub.com.
International Growth
In the first four months of 2011, ASR received full CE approval and Health Canada and ISO certificates allowing it to export to, among other countries, Canada.
ASR received a 5,000 unit purchase order from its United Kingdom distributor Syner-Med and expects to ship this order during the second quarter.
ASR has completed registration and translation for the bi-lingual packaging design for Kidz-Med VeraTemp non-contact thermometers that are being shipped to Canada. ASR’s Canadian retail distributor, Associated National Brokerage, Inc. (“ANB Canada”), has contractually committed to buy a minimum of 20,000 units over the next 12 months and has orally indicated to ASR that it plans to place the Kidz-Med VeraTemp non-contact thermometers in pharmacies throughout Canada by fall 2011. ASR has already received commitments from customers in Canada and is working on a private label brand for a major Canadian pharmacy chain.
Furthermore, ASR is in the process of translating instruction manuals, registering the product and/or designing the packaging for customers in the United Kingdom, Ireland, and Israel. In April 2011, ASR shipped to France its first pallet of Kidz-Med VeraTemp non-contact thermometers packaged in English with instructions in French, Dutch and German.
Early in the second quarter of 2010, ASR shipped its first major Latin American order containing Spanish language packaging to Chile, where ASR’s distributor has placed the Kidz-Med VeraTemp non-contact thermometers in three large pharmacy chains that have over 1,100 stores throughout Chile. ASR hopes that this relationship will provide a cornerstone for its Latin America growth strategy, and has identified distributors and interested retailers in Peru, Bolivia, Ecuador, Colombia, and Brazil.
ASR is continuing to work with identified distributors on local registration, packaging and distributor negotiations in Belgium, Sweden, Switzerland, Turkey, Hungary, Poland and Australia.
As of the date of this corporate update, ASR has made payment and placed additional factory orders for more thermometers. At this time, ASR has eight thousand thermometers being shipped via air freight and ten thousand in production. ASR has placed two additional orders of ten thousand units each and placed deposits for the commencement of production, which will begin production shortly.
Upcoming
ASR plans to attend the ECRM International Health and Beauty show in early June to meet with current customers and to try to identify potential international customers.
ASR plans to attend in late June the National Association of Chain Drug Stores (“NACDS”) Marketplace 2011 in Boston, which is attended by drugstore retailers
actually your explanation is better, COG vs COGS
i said COGS and described COG
net sales is sales after returns and promotional discounts
cogs is the cost to make, package and deliver to the factory floor, ready to ship. includes parts, labor, packaging, apportioned overhead such as energy, insurance and rent expenditures.
Their cost on the therms is 12.50 (their number, not mine)they sell them for 19.50 (again their #) their margins are poor to begin with. Their 1st qtr margins may be the result of blow out pricing to get cash in the door. If the therm starts popping up at clearance websites or highly discounted, that's likely the case.
so when yo look at the horrible margins and when you read the MD&A they talk of clearance prices etc.. are they simply doing anything they can to generate some sort of cash? is that how we got to 92% cost of goods? remember that a branded consumer product in this area should yield 65% plus...ideally 75%.
It cost over 600k to yield 8k in GP dollars. that's negative 99%,.....before debt service. .....This is where a real CEO and CFO come in handy.