Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Roth is coming off a year (2010) of RECORD losses of about $8,000,000 and 2011 starts with a BANG, "THE RECALL" and no reorders.
And Life in "ASFX Land" is WONDERFUL!!!!!!!!!!!!!!!
It's Funny as hell. Its IMPOSSIBLE to make this stuff up.
Investors are actually wondering if Roth turned a profit in the 4th Qtr!!!!!!!!!!
Morning coffee and the Comics. Pure Entertainment.
Its like the HOUSE is on Fire, and the Real estate agent is saying
"LOCATION, LOCATION, LOCATION"
Buy More!!!!!!!!!!!!!
I think the stuff coming out of the Mafia Raid , will prove most interesting. In regards to the "Paid Pumpers" that is.
Mint!!!!!!!!!!! You are dead on with your analysis. With you all the way.
But adjust the balance sheet by removing the Liabilies via equity, and you might have a chance. And thats where Russian Investment Banker comes in to play.
Its doable (is that a word????)
"No" on both counts Dog. the US army guy, with a very odd name, (I'm not trying to be funny, but it sounded Rxxxxxxx), I think he's Roth's Plant manager for ASFX and Roth's other business enterprises.
get rid of the Liabilities Golf, and you might be right.
Cost is 12.50 per S-1a, dated 1/11/11, page 20. I believe this is what they're paying the Chinese.
The 5-1 is a great product, but the ASFX Liabilities will crush it, if Mamgaement doesn't do it first
No, it was another GUY. He was in the US army, but had an unusual Name. Can't remember it. I think he goes by "Peyton" on Google.
But Roth is the MAN, so I guess your right.
But I wonder what Management THINKS.
I think the Liability for the initial 12,000 was incurred in the Spring of 2010, and Chinese LC wasn't in place until August 2010. And these were the 12,000 shipped in Sept (2,000) and the remaining in Novemebr (10,000).
I don't think the LC guy will do a GD thing now. Would YOU take the chance at this point???? At the very least, these legal matters with have to be resolved with Tech and the EX Boys. And its not looking good.
No wonder Roth never left his regular job. Who could blame him.
I don't think it was consignment. But either way, they are screwed. They have just created new Creditors with this recall.
And BS walks.
I don't think a reputable "Big Box" with carry the 5-1. Not with these legal problems, no advertising budget, no cash and TONs of Liabilities.
Why deal with ASFX when the Exmen are on ESPN Radio every day. The "Big Boxes" aren't stupid, and I'm sure the "Court Order" was faxed to all FIVE of the ASFX's customer base.
The Exmen is the current "Brand Name". Why deal with recalls, legal fights and no advertising.
Thats why the Sept 15th "pipeline" deadline was so important, resulting in the "NO PR" excuse because of SEC regs.
It appears the EXmen and Tech, will put them into Involuntary Bankruptcy, and be done with them. Just ONE more.
Same thing happened at SPNG. When the situation starting falling apart, the promoters stepped aside and the Honest Bagholders starting getting delusional.
By my count Mint, only one more Creditor is needed for Involuntary Bankruptcy. And liabilities arising from this recall, could just do it. If there's a "Factor" involved, he'll be mighty pissed. Lanktree can't be happy either.
I imagine relations between Roth and the Doc, are out of control right now.
Looking forward to the Material Event disclosure, signed by the DOC. This recall, coupled with only 12,000 Unit sales (and no reorders)is just a Killer. Its cover your azz time.
They have a Bankrupt Balance Sheet. They have No Cash, No Sales, NO PRs and No Hope.
And its all reflected in the PPS and Vol. Down 95% since Roth took over.
Maybe Wall Street is Stupid, and you're RIGHT.
I Doubt it.
The Vol and PPS disagree with YOU
Its all come to light. All of it.
Injunction was THIS WEEK - Strike TWO
History Counts, like the 2006 $75,000,000 Revenue PR
Yes, but just the shares he hasn't taken full control of yet.
As far as the S-8 and Tecnimed, I'll give them the benefit of the doubt, concerning the timing of the required S-8. The SEC gives a little bit of wiggle room here.
Didn't this S-8 just cover the Consultant's ISO Plan?? Had 3 edits on previous post BTW.
They haven't stated anything yet, so "restatement" is N/A.
But I think your real question is "Does this 2011 (still not sure of date) Court Order affect 2010 numbers?"
Absolutely, and it includes all related costs (incurred in 2010 and 2011) associated with the recall, including professional fees.
But more IMPORTANTLY, the likely Legal outome of the entire Case changes significantly. Management's position that an unfavorable outcome is "unlikely", on the case(s) taken as a whole, becomes very WEAK.
BTW, I expect the 2009 #s will be restated for the $129,000 collected in 2010 for 2009 bad debts. One other thing too, but I can't remember. EDIT 2009 Inventory Valuation should be adjusted too, Mint EDIT #2 The Valuation of the NDD is way off too. Expect a significant writedown, but will have no impact on the IS/RE because the corresponding Liabiblity will go down a like amount. There isn't anything that can justify the 2.6M Valuation.
Edit #3 In fact Mint, I expect the Auditor will issue a "NO Opinion" to cover his azz. I think this is well beyond a "going conern" issue.
The ASFX Management, a couple of days ago, made the following announcement:
“Full-scale final assembly and production commenced in May 2010 on the first 12,000 units; these units were fully delivered by early November 2010. Funding for additional purchases and assembly will come from purchase order financing or additional sales of our securities."
Nothing yet for 2011, except the recall of 4,000.
These are the FACTS, and they are, without question, the TRUTH.
“Full-scale final assembly and production commenced in May 2010 on the first 12,000 units; these units were fully delivered by early November 2010."
Call Roth
Posters don't call me names here. They started it on G Board, and I'll bury them over there, with the FACTS.
"2009 Walgreens" was strike ONE!!!!!!
The Exmen have a advertising budget, so no one is going to deal with Strike Three. The EXMEN is "THE MAN" right now.
Its OVER, IMHAO
Your "Only 12,000 Shipped in 2010" comment, was in fact, CONFIRMED by the Company to me.
And no reorders yet for 2011.
My lawyer got it in writing too!!!!!!!!!!!!!!
What was date of the Judge's order???????? Had to stop, I was Laughing so much.
Thanks Mint for everything, same to you DOG.
No Dr P, the real issue is ASFX shipped 12,000 Units to FIVE retailers in Sept, Oct and Nov; of which 4,000 are now being returned.
8,000 sold at the retail level, over the past 5 months, to cover approx. 5 million in expenses.
It's a financial disaster, and that's the REAL ISSUE.
Can't wait for the S-8, explaining this INJECTION.
Its a financial disaster
What!!!!!!!!!!!!!!!! Maybe 3 or 4 legit transactions today
Buy Moreeeeeeeeeeee
You missed the point Legend. These transaction are not "Buys" or "Sells", just MMs and their Promoters passing shares back and forth to each other. Pump up the Vol, to generate interest, while Management sits silently by.
Management lack of attention to the needs of the shareholders is what's driving the Bus now. And the Bus is heading for a cliff.
MMs and their paid promoters are trying to make a Buck, so they play these games.
Its a trick used by the MMs to avoid the "Sell column". The actual SP fills between the "Bid" and "ask". For example, the selling price is .0045, but the "bid" was .0044 and the "ask" was .0046.
This is how they distort the "Buys" and "Sells".
Almost all the trade transaction on this stock are just MMs and their Paid Promoters, trading stock back and forth to each other.
The actual number of "honest" trades are maybe 5 or 6, a day.
Watch for 2 big "Buy" trades first thing Monday Morning. Its all BS. Its just reversing the late Friday "?" trades. And the Stock Promoters will use that to say "Something Big is Coming!!!!!!"
Just study it MM. It's really quite simple.
Excellent point Mint. And the next request will be the audited Financial Statements. Which delays it at least until April 15th, and then there will be more requests.
ASFX has to show the SEC, "Da Money". The uplisting will never occur for a Company going into Bankruptcy, and ASFX just hasn't proven anything regarding their financial condition. NOTHING!!!! They just keep losing MILLIONs, quarter after quarter.
While we have to wait to get paid. The Accounts Payable situation is RIDICULOUS.
Per Dr T, the intent of the uplist is NOT to raise cash.
The intent is to bail out the Russian Goldin. Thats all.
The proof is the Balance Sheet, the auditor's opinion, Accounts Payable growing quarterly while liquid asstes keep declining and Dr T's own words. Maybe not next week but its coming. The Vendors will force Involuntary Bankruptcy. ASFX has NO CASH to pay their bills. NONE!!!!!!!!!!!
ASFX has NO POSITIVE CASH FLOW!!!!!!!!!!!
No one's giving them more credit. Would You Dr P, and if so, WHY??????????? What business in their right mind, would give goods and services without cash upfront????
No one cares about the shareholders, especially Management. Need proof of that too?????
But they do have $945 in Petty Cash. Its a JOKE!!!!!!
Thats why there's no PRs on the current sales Backlog, cash flow and 4th qtr sales. Its a financial disaster.
And you really think the SEC has no idea whats going on. The Company is Bankrupt, its just a matter of time.
You see Dr, in Bankruptcy, a Company can't meet it's current obligations. And ASFX is a perfect example of this situation.
They have NO CASH. End of story.
ASFX CAN'T even pay their monthly bills now. How in the heck is the SEC going to uplist a company thats this desperate for CASH??????
First they're going to demand an audit for 2010. And the auditor will need to be paid.
Its an impossible business situation. WHO will extend credit at this point in time DR???????
Just admit it Dr, you have no idea about the Accounts Payable.
If ASFX owed you money for goods and services, how long would you wait for payment??????
And more importantly, would you extend them MORE credit???? Of course you wouldn't!!!!!!!!!!!!
And the answer is, They're NOT going to be paid!!!!!!!!!