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The creditors who bought into the 2006 PR promising $75,000,000 and uplisting. They include Reznick and his family; and Goldin and his Family.
Thats how Reznick got on the BOD, and then Roth suddenly appeared.
The creditors control, at least for NOW.
EDIT #1 Mint, the Recall battle was significant and ASFX lost. The end is near. No cash and No meaningful sales.
"Meanwhile, the underlying lawsuit continues as Tecnimed seeks damages arising from Kidz-Med's sale of products with infringing packaging and Kidz-Med's breach of contractual obligations. This lawsuit is part of Tecnimed's vigilant efforts to enforce and protect its valuable intellectual property rights and other business assets."
This is "Strike TWO" and USA retailers aren't waiting around for the BIG KO. Its OVER until this lawsuit is settled, one way or the other.
So what's Southridge going to do Dog??????????
Reading IT is one thing, understanding IT is another thing all together.
Reznick, Goldin and TRC had their chance, and their failures are well documented. (the PPS and the dilution).
Steve and Chris now hold the Hammer. And Steve is not about to pay in the .004s for a Bankrupt Balance Sheet.
Let the Games Begin!!!!!!!!!
Sounds like Massive Dilution. In line with what Management warned shareholders about on Jan 11th, 2011.
"We have incurred net losses since our inception. We have incurred net losses applicable to common shareholders of $4,787,637 and $1,935,779 for the nine months ended September 30, 2010 and 2009, respectively, and $3,424,851 and $6,406,954 for the fiscal years ended December 31, 2009 and 2008, respectively. As of September 30, 2010, we have an accumulated deficit of $24,819,261 and a shareholders’ deficit of $4,200,399. We currently have sufficient cash to sustain our operations for a period of approximately one month. We will require additional funds through the receipt of conventional sources of capital or through future sales of our common stock, until such time as our revenues are sufficient to meet our cost structure, and ultimately achieve profitable operations. Management estimates that it will need $1,000,000 over the next twelve months, and $3,000,000 to fund all of the Company’s current product development and marketing projects, including $1,000,000 to fund marketing programs for the Kidz-Med Non-contact 5-in-1 thermometer. There is no assurance we will be successful in raising additional capital or achieving profitable operations. Furthermore, the large number of shares available from the selling stockholder pursuant to the prospectus and the depressive effect of the availability of such shares could make it difficult for us to raise funds from other sources. Wherever possible, our board of directors will attempt to use non-cash consideration to satisfy obligations. In many instances, we believe that the non-cash consideration will consist of restricted shares of our common stock. These actions will result in dilution of the ownership interests of existing stockholders and may further dilute common stock book value, and that dilution may be material.
JMHO
Complete and Utter Fraud!!!!!!!!!!! Thats perfectly legal. ASFX Management has themselves covered with the following from Jan 11th SEC filing.
"We have incurred net losses since our inception. We have incurred net losses applicable to common shareholders of $4,787,637 and $1,935,779 for the nine months ended September 30, 2010 and 2009, respectively, and $3,424,851 and $6,406,954 for the fiscal years ended December 31, 2009 and 2008, respectively. As of September 30, 2010, we have an accumulated deficit of $24,819,261 and a shareholders’ deficit of $4,200,399. We currently have sufficient cash to sustain our operations for a period of approximately one month. We will require additional funds through the receipt of conventional sources of capital or through future sales of our common stock, until such time as our revenues are sufficient to meet our cost structure, and ultimately achieve profitable operations. Management estimates that it will need $1,000,000 over the next twelve months, and $3,000,000 to fund all of the Company’s current product development and marketing projects, including $1,000,000 to fund marketing programs for the Kidz-Med Non-contact 5-in-1 thermometer. There is no assurance we will be successful in raising additional capital or achieving profitable operations. Furthermore, the large number of shares available from the selling stockholder pursuant to the prospectus and the depressive effect of the availability of such shares could make it difficult for us to raise funds from other sources. Wherever possible, our board of directors will attempt to use non-cash consideration to satisfy obligations. In many instances, we believe that the non-cash consideration will consist of restricted shares of our common stock. These actions will result in dilution of the ownership interests of existing stockholders and may further dilute common stock book value, and that dilution may be material."
JMHO, as always.
JMHO, but its FRAUD, pure and simple
You are about to witness Lesson #1 in Penny Land. And remember always Mint, GREED Kills.
Hey "Medicineman", why did the ASFX CEO make the following statement on Jan 11th, 2011 and do you think any of it is false and misleading?
"We have incurred net losses since our inception. We have incurred net losses applicable to common shareholders of $4,787,637 and $1,935,779 for the nine months ended September 30, 2010 and 2009, respectively, and $3,424,851 and $6,406,954 for the fiscal years ended December 31, 2009 and 2008, respectively. As of September 30, 2010, we have an accumulated deficit of $24,819,261 and a shareholders’ deficit of $4,200,399. We currently have sufficient cash to sustain our operations for a period of approximately one month. We will require additional funds through the receipt of conventional sources of capital or through future sales of our common stock, until such time as our revenues are sufficient to meet our cost structure, and ultimately achieve profitable operations. Management estimates that it will need $1,000,000 over the next twelve months, and $3,000,000 to fund all of the Company’s current product development and marketing projects, including $1,000,000 to fund marketing programs for the Kidz-Med Non-contact 5-in-1 thermometer. There is no assurance we will be successful in raising additional capital or achieving profitable operations. Furthermore, the large number of shares available from the selling stockholder pursuant to the prospectus and the depressive effect of the availability of such shares could make it difficult for us to raise funds from other sources. Wherever possible, our board of directors will attempt to use non-cash consideration to satisfy obligations. In many instances, we believe that the non-cash consideration will consist of restricted shares of our common stock. These actions will result in dilution of the ownership interests of existing stockholders and may further dilute common stock book value, and that dilution may be material."
EDIT What exactly will Roth show them, that he hasn't showed them already.
Seriously!!!!!!!!!!!!!!!!
ASFX keeps losing money, and like these "Big Boxes" can't read or something
Honest to God Mint, I thought Roth was "THE MAN". A sale was just a phone call away.
What happened at last June's Trade Show??????? NADA
Now Roth has to pay people to come visit him in his Hotel Room.
I guess the ASFX Product doesn't "Sell Itself".
This is Hilarious
Nice again Mint!!!!!!!
Nice job Mint!!!!!!!
Nice Mint, just the FACTs Baby
The insiders now realize its hopeless. They just can't come up with legit answers anymore. Since Oct 1st 2009, how much has Roth lost? Over $10,000,000???? Damn close
The pumpers are losing
And ASFX has NO CASH.
And "looks like", means "looks like". Nice pickup Hawk.
And it doesn't "Look Like" they have NO CASH. They in fact, HAVE NO CASH. And the reason being, they HAVE NO MEANINGFUL SALES. A Fact, as pointed out by the DOC on Jan 11th, 2011 in the S-1.
I'm sorry hawk, they "IS"
Is there something I missed Hawk in Roth's first year?????
What was it about Oct 1st, 2009 to Sept 30th, 2010 that was so great???? And the 5th quarter looks like a complete disaster.
NO CASH is tough to overcome Hawk.
Like what?????? Edit#1 for Hawk - The S-1 Financial statements should be a adequate source for ASFX's progress since Roth has taken over.
4 quarters in the BOOKS, 12 months or exactly 1 year. And his 5th quarter looks to be the worst of them all. The recall Quarter!!!!
You must be getting CRUSHED "WIN". Seriously "WIN", how bad is it??????
"Over a penny soon, mark this post, look at recent trading pattern." By You. I notice you do this a lot on your other boards too.
So now I get allowing the "up up up".
Hey "WIN"!!!!!!!!!!! Don't you think there's something seriously wrong at ASFX????? I mean, $4,800,000 loss thru 9 months is not "Peanuts". (Thats a USA expression)
And for the year, it looks like a record $8,000,000 LOSS is coming down the PIKE.
Amazing "WIN", that you allow this "up up up" stuff!!!!!!!!!!
Why
Yet the DOC has basicly announced, he is running this like a Company in Bankruptcy Court. Having to "wheel and deal" with creditors and the like. Sounds like Bankruptcy to me, without the Judge and Lawyers. But the Creditors' Committee is controlling everything.
The Oil and Gas one, run by Russians, is really good stuff
Where are the two assistants??????
They can dance with this Material event a little bit Mint. Identifying the related costs can be tricky.
But no denying the tangible long term damage to their Customer Base. All 5 of them.
Lots!!!!!!!! But I'll sit back and watch the MOON shot.
Apparently a resignation/accident happened over the weekend.
The 8K is being "drafted", and the Board will have "draft" by Tues. It will be PUBLIC by Friday.
Was "Southridge Capital Management LLC and Southridge Advisors LLC" in bed with ASFX Management???????
No no no Mint!!! Reread the Ohio FDA thing again, Its funny as Hell.
Mint you seem to be confused with "Sales", "Shipments" and "Consignment". A "Sale occurs when title transfers. Its a minor point, and its meaningless because 8,000, 10,000, 12,000 or 100,000 Units will not help the current Balance Sheet, as of Sept 30th, 2010.
The 4th Qtr expenses dumped on top of the Sept Balance Sheet, just digs a deeper HOLE. At least 3 Million, maybe 5 Million.
Mint, I missed these comments by the Judge. Could you post them Please.
I'm working on my upcoming "Da Bears Road Trip" for my Google fans, and these comments could come in handy
The ASFX's Balance Sheets, Income Statements and Cash Flow Statements do a Fine job of discrediting Team Roth.
But this "Recall Injunction" was HUGE step in the right direction, don't you think Golfer????
And all this stuff are "Material Events". A real "Catch 22".
Thats what happens when you hire a part-timer, whose not 100% committed to the CAUSE.
The Russian Investment Banking deal is falling apart.
The ex CFO saw it coming in Nov.
Such is LIFE. Now they fight over 4,000 5-1s.
BUY MORE
All Material Events no doubt.
It was suppose to be Jan 2011. Isn't Monday the 31st the Big day.
A Material Event, by anyone's definition!!!!!!!!!!!!!!!!!!
Degrading a Classic.
Could you please explain what the "catch 22" is all about?????