I am not sure that ASFX has complied with the court order. ASFX has yet to publish a press release disclosing this substantively material event

Off Topic? are you serious?

Judge's ruling is a court order directing ASFX to pull all product in the trade and compensate the trade, It affects the last shipment of 10,000 units of which in ASFX's opinion 4,000 left.

A company that has less than 30 days of cash now has to cough up $130K.

The trade will not be happy about this.

Never mind that the company is under an obligation to disclose this publicly and immediately, which they have not done so as of yet. Instead they filed an S8.

It also calls into question all of the info we have been fed regarding dozens of retailers. Judge says there are only 5. That means that either through an audit or ASFX own testimony the truth comes out.

Just a few weeks ago we saw an announcement that proclaimed how much the product was selling through.

We are all entitled to our own opinion, not our own facts.

Please read the document.

Dog, I guess no one wants to read this document. They just opine like it doesnt say what it does.

Tirrota testifies that the 10,000 units they shipped would have to be recalled. those were the last units they shipped.

And he testified that it would cost about 95K to get them back.

ASFX testified that the recall will cost them about $130k and Tecnimed is posting a bond in that amount to gurantee the loss should they lose the suit.

Yep sound like Tecnimed is on the balls of their ass to me. They can stroke a 130k check.

But then again the judge says its likely that Tecnimed will prevail.

New York Court Recalls From the American Market a Competitive Thermometer With a Packaging Remarkably Similar to Tecnimed's IP

Read more: http://news.reportlinker.com/n05100597/New-York-Court-Recalls-From-the-American-Market-a-Competitive-Thermometer-With-a-Packaging-Remarkably-Similar-to-Tecnimed-s-IP.html#ixzz1C5Jwca8H

major re-re-edit:THIS IS NOT GOING BYE BYE, A FEDERAL JUDGE HAS ORDERED A NATIONAL RECALL.

here is the link, the whole thing is 33 pages it gets down to the nitty gritty on page 25 on.

its a mandatory recall

http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2010cv07277/368455/38/

Court Ordered Recall Notification in Industry Publication:

http://pharmaceuticals.einnews.com/pr-news/295232-new-york-court-recalls-from-the-american-market-a-competitive-thermometer-with-a-packaging-remarkably-similar-to-tecnimed-s-ip-

Simple, because what I read here form the hype machine is totally illogical to me. No regard for the widely accepted business metrics. Just a bunch of self serving mental masturbation that to me makes no sense.
The hype lacks credibility and is laughable to me.

Now the reality has been defined by a federal judge. Of course some here will somehow rationalize that a national recall is an incredible bit of good fortune as they will move up into a lower price bracket with UPS etc. Plus they now don't have to deal with accounts receivable and all of the wasteful time on running the business.

They are totally free to focus on repackaging and begging trade for another shot.

Simple, because what I read here form the hype machine is totally illogical to me. No regard for the widely accepted business metrics. Just a bunch of self serving mental masturbation that to me makes no sense.
The hype lacks credibility and is laughable to me.

Now the reality has been defined by a federal judge. Of course some here will somehow rationalize that a national recall is an incredible bit of good fortune as they will move up into a lower price bracket with UPS etc. Plus they now don't have to deal with accounts receivable and all of the wasteful time on running the business.

They are totally free to focus on repackaging and begging trade for another shot.

EDIT: Today is the day that the 5 customers that actually have product (I was confused with thinking there were dozens) that they must pull the product for sale.

There are 4000 units involved so if all of the hyper babble was accurate as to the 10,000 units shipped. In 4 months they sold 6,000 units or an average of 28,000 dollars a month at a $19 wholesale spread over 5 customers or approximately $7,000 per mopnth per customer. They would have been discontinued anyway in my opinion.......

This may wbe securities fraud. I believe it is but Iam not a lawyer and I am not going tp spend more money than my shares are worth to ask a lawyer.

Point 1 An S8 becomes effective immediately. they can and may well have been trading those shares already.

Point 2 There is no doubt that this is a meterial event and that they are obligated to announce it as soon as practicable.

This seems to be insanely over the line. In my opinion.

i was curious why things were so quiet here.....now I know

I agree, I still cannot get my arms around as to how they have not made a PR immediately. This is an incredibly huge huge material event for a company in their situation. Jesus the judge acknowledges Tecnimed's claim THAT INSOVENCY IS A VERY REAL POSSIBILITY, yet they are doing an S-8???????
Wow this is so over the line they cant even see the line behind them.
in my opinion.

EDIT: if I am not mistaken this is going to be the second time that the trade has to deal with a significant negative event. I may not be a Pink Sheet or Penny Stock Whiz Kid, but if that is the case I know enough from my content knowledge of the Retail industry to tell you this is at best, a nightmare for the company's sales team and I think it spells an economic disaster for ASFX

MAJOR AND SIGNIFICANT EDIT: i have read the order at the end of the court's opinion, I will refrain from stating my opinion here. May I ask your take on this Dog and CFG?

HOW COULD THEY NOT ISSUE A PR ON THIS?

Thank you, unfortunately a telephone chat is not meaningful, only official information published directly by the company can be considered official, but i appreciate the suggestion

In all honesty, I believe that when the financials are actually reported and the sales results are in, the chickens will come home to roost. And I believe its gonna be uglier than even the most pessimistic here ever anticipated.

My sense is that they are trying to exit with as much as possible before that reality hits the proverbial fan. Look at what the company has actually done in their SEC filings. Not one single filing or act of commision has been indicative of their acting in the best interest of the shareholders. Which by the way, is their regulatory obligation.

There has been no reason to delay the release of news. the math does not add up.

Why have'nt we heard aso much as a peep about the "Grand Sweepstakes" as announced moths ago. Every comapny would be touting participation updates.

Why don't we get sales numbers toplines?

Why don't we get any commentary attributed to Greenwood (the brokers), hell they represent them as "team members". Folks here will write all of this off as Bashing, Paid Bashing and a whole lot of similar rhetorical garbage.

Check my posting history and you will see both pro and con, granted a lot more con than pro, but at the end of the day that is the mathematical reality.

I have never understood why people arent up in arms. Call the IR, call the company they say. Bull Crap! all of that is meaningless. the only thing that matters is a company sanctioned PR or a disclosing and compliant SEC filing.

Quiet Period

The federal securities laws do not define the term "quiet period," which is also referred to as the "waiting period." However, historically, a quiet period extended from the time a company files a registration statement with the SEC until SEC staff declared the registration statement "effective." During that period, the federal securities laws limited what information a company and related parties can release to the public.

On June 29, 2005, the Commission voted to adopt modifications to the registration, communications, and offering processes under the Securities Act of 1933. Among many other provisions, the rules update and liberalize permitted offering activity and communications to allow more information to reach investors by revising the "gun-jumping" provisions under the Securities Act. The cumulative effects of these rules are as follows:

* Well-known seasoned issuers are permitted to engage at any time in oral and written communications, including use at any time of a new type of written communication called a "free writing prospectus," subject to enumerated conditions (including, in some cases, filing with the Commission).

* All reporting issuers are, at any time, permitted to continue to publish regularly released factual business information and forward-looking information.

* Non-reporting issuers are, at any time, permitted to continue to publish factual business information that is regularly released and intended for use by persons other than in their capacity as investors or potential investors.

* Communications by issuers more than 30 days before filing a registration statement will be permitted so long as they do not reference a securities offering that is the subject of a registration statement.

* All issuers and other offering participants will be permitted to use a free writing prospectus after the filing of the registration statement, subject to enumerated conditions (including, in some cases, filing with the Commission). Offering participants, other than the issuer, will be liable for a free writing prospectus only if they use, refer to, or participate in the planning and use of the free writing prospectus by another offering participant who uses it. Issuers will have liability for any issuer information contained in any other offering participant's free writing prospectus as well as any free writing prospectus they prepare, use, or refer to.

* The exclusions form the definition of prospectus are expanded to allow a broader category of routine communications regarding issuers, offerings, and procedural matters, such as communications about the schedule for an offering or about account-opening procedures.

* The exemptions for research reports are expanded.

A number of these new rules include conditions of eligibility. Most of the rules, for example, are not available to blank check companies, penny stock issuers, or shell companies.

The rules address the treatment under the Securities Act of electronic communications, including electronic road shows and information located on or hyperlinked to an issuer's website. The rules define written communication as any communication that is written, printed, a radio or television broadcast, or a graphic communication. The definition of graphic communication and, thus, electronic road show excludes communications that are carried live and in real-time to a live audience, regardless of the means of transmission. Electronic road shows for initial public offerings of common equity or convertible equity securities will have to make a bona fide electronic road show readily available to an unrestricted audience to avoid filing the electronic road show with the Commission. No other road shows will be subject to filing.

The effective date of the rules is December 1, 2005. For more information, please see Release No. 33-8591 — Securities Offering Reform.


http://www.sec.gov/answers/quiet.htm

EDIT: well it was a crock as you can see from the SEC web site i my quiet period post and its a crock now

so dog and cfg, this i truly don't get, not a single PR, only more issues that put pressure on the stock?

Jesus, Mary and Joseph, why cant they get any news out? this makes zero sense

Dog a true investor would be apoplectic over this S1. The expense, the management time and focus and the PRECEDENT it sets is contrary to the best interests of a rational thinking.

I have never seen a company this incredibly desperate for cash file an S1 and NOT get any proceeds.

not even facebook blabber.. that really surprised me. You know Gol's aint a happy camper, under these circumstances the exit is extremely difficult and the company has now way to cover the shortfall covenants. does the controlling document between them speak to R/S?

thank you

dog, how many shares have changed hands since the effective date?

of course it is. But that I guess is the reality on Pinks, "Normal" metrics are irrelevant and it boils down to what the hype can achieve with out a relationship to the operating results or market dynamic

thanks

so dog, do they have to report 4qtr and fy 2010 on feb 15th

this was a missed opportunity but the reality is that there were no shares for the company to sell for capital raise

like i had said to you before the only reason for an S1 folly was gols, the covenants are like a sword of damoclese haging over asfx, and the cord is fraying

i agree. as you know I am a novice to Penny Stock, someday I will share how I originally got interested. From my perspective what I have watched on the board for the last 3 trading days is EXACTLY what yourself and CFG have commented would occur. Its eerie that its so predictable.

an r/s is not neccesarily a bad thing

in my opinion, the gols goup and their associates are driving price up by trading amongst themselves so they can optimize their exit when others get caught up in the hysteria...just my opinion

i know that, i am learning some of the nuances. I just dumped anothe 50k shares. still upside down but better than .0039

i have my own opinion of what is happening here, ill keep that to myself

just trying to understand why I am missing the point here. I see no reson to get excited about expanding the float and getting zero proceeds for this S1 effort

in my mind it shows creditor-shareholder's getting out and creating expense, while i ma not an sec expert, i dont believ that the S1 has any impact ona possible uplist other than ceding to creditors demands

shoe on the neck type of thing

i have not said anything about uplist

doent answer my techical question and my technical understanding.


1 company sees no proceeds from s1

2. as you said there are now 88 million more shares in the float

the manipulative efforts by others arent a part of my question

can you explain

Hey Dog CFG, Im curious as to how the infusion of shares that the gol's are now going to sell are going to affect the SP, keep in mind that sole purpose of the S1 is for them to sell shares they own but were previously restricted. Nothing more nothing less, Shares that were under a restrictive legend are now in the trading float.