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FASC 21st Century Biomass Dryer and BioFuel Preparation | Ethanol Preprocessing
Website: http://www.fasc.net
DD: http://investorshub.com/boards/board.aspx?board_id=566
First American Scientific Corp (FASC-OTCBB) files amended 10 K/A-1 for June 30, 2008
West Vancouver, BC - (WORLD STOCK WIRE) - November 6, 2008 -- First American Scientific Corp. (OTCBB: FASC) is pleased to report that the company has now filed an amended 10K “annual report“ which includes audited financial results for the year.
The new report includes an adjustment for a change in the method we use to account for our investment in our Malaysian Joint Venture ( First American Scientific Malaysia Sdn. Bdn. – FASCM ). Our 50% interest in the joint venture is now carried on our books using the equity method of accounting.
“Up to and including the year ended June 30, 2007, the Company accounted for its investment in the Malaysian joint venture in accordance with APB 18 at cost. The investment was valued at the agreed upon purchase price of the 21 year license for the KDS technology. Because of the passage of time, by the year ended June 30, 2008 the Company was required to change its method of accounting for its investment in the Malaysian joint venture to the equity method. Consequently, the carrying value of the asset has been reduced by its share of the accumulated losses incurred to date”
The write down of the investment was $136,615 leaving the new carrying value of our
50 % ownership in FASCM at $ 126,543. The auditors considered this a material change resulting from the audit.
Despite this downward adjustment, we believe our investment in Malaysia is sound, with two KDS Model MF-777 machines now sold for delivery next quarter and one new sale pending.
The Malaysian palm oil industry is overwrought with waste fibre from its palm plantations. After being processed through the KDS, this waste called “empty fruit bunch” ( EFB ) becomes an efficient burning fuel generating heat that is recycled back into the palm oil manufacturing process. Other uses for the processed fibre are the manufacturing of green fuel pellets, the creation of low grade packing material, and the manufacture of paper products. Our patented KDS technology is proving to be an innovative solution to recycling waste generated by palm industry.
FASC is entitled to receive a royalty for each KDS machine sold in Malaysia plus its 50% share of profits.
Forward-Looking Statements:
This release contains forward-looking statements, which are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
C. Kantonen, Chairman
FASC.OB (Bulletin Board) Web Site: www.fasc.net
Call Toll Free: 1-800-561-8656
Calvin Kantonen
First American Scientific Corp.
100 Park Royal South
Suite 811
West Vancouver, BC V7T 1A2
Canada
Phone: 604-913-9035
Source: First American Scientific Corp.
Note: The following press release was submitted by: First American Scientific Corp., and World Stock Wire, Inc. is not liable for the contents of this press release.
Source: World Stock Wire (November 6, 2008 - 1:15 PM EST)
Thanks, Charlie. And thanks, TR for the heads up on the symbol change.
Good eye TR, thanks!
A lot of the typos are gone too! :0)
I will update the iBox in a little bit.
Thanks Charlie. EOM
Are the commercials only to be aired in select markets? (eg./ Las Vegas, Tampa)
Edit: As you know I only get 3 posts a day, hence the edit...In your reply, what did you mean by 'the market'? Who/what is the market? JW, and thanks for the reply.
0.0025 19763 OTO 09:37:18
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0.0025 500000 OTO 09:34:55
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iHub only gives me 3 posts a day for spamming (gonna have to find the money for a subscription one of these days...so to answer your question yes I show a gap.)
It's Bollinger time. :0) EOM
No problem Durkk, I'm kind of embarrassed recommending a stock with an E but I hear it was a bottleneck on the auditor's end that caused the delay. If you check the filings they've already submitted an unaudited 10-K with the SEC. I know they plan on re-filing an audited 10-K, hopefully it will come soon.
Am looking to see some news after the E is removed. Thanks for taking a look at it.
FASCE. EOM
http://www.bionicproducts.us has 4 links to the last PR. (One of which doesn't work.)
Share O/S for BBDA from Pinksheets.com:
1,119,087,549 as of Sep 22, 2008
Compare that to BNPD's share structure from the iBox at the BNPD board:
Share Structure
10-23-2008
Authorized Shares: 1,500,000,000
Issued and Outstanding: 1,385,000,000
Restricted Shares held by insiders for 1 year before maturation: 600,000,000
Shares held in Cert form by insiders: over 100,000,000
Float: 685,000,000 shares in DTC 785,000,000 if you count the 100,000,000 shares held in cert form
Dilution or not the O/S and A/S are about the same.
BBDA has bandanas, BNPD has an energy drink on the market with one on the way.
BNPD website: http://bionicproducts.us
L2 please? EOM
Laughable...EOM
1 gone then...TY. EOM
MEDP = scam. Buy BNPD. It has potential. At least good for a flip.
Oh right...all of this "IMHO"
FASC - Biomass Dryer and BioFuel Preparation | Ethanol Preprocessing
Website: http://www.fasc.net
DD: http://investorshub.com/boards/board.aspx?board_id=566
http://ipro.iit.edu/home/listings/currentListings.php#Fall2008_349
Section: Fall 2008 - 349
Title: Solid Corn-Waste Fuel for Cogeneration
Meeting Days/Time: Mondays/Wednesdays 5:00 to 6:15
Sponsor: Kern Entrepreneurship Education Network (KEEN) via the Kern Family Foundation
Faculty: Don Tijunelis (INTM) (tijunelis@sbcglobal.net) in consultation with Keith McKee (INTM) and David Pistrui (SSB)
Appropriate Disciplines: Business, chemical engineering, civil engineering, electrical engineering, engineering management, mechanical engineering, manufacturing technology, chemistry.
Description:
This IPRO will continue the work done in IPRO 349 to evaluate the use of biomass as a solid fuel. Effectively, any type of biomass can be burned as a solid fuel. There has been extensive R&D into the use of biomass to produce bio-diesel and ethanol, but almost no consideration has been given to its use as a solid fuel. The potential is demonstrated since 2 percent of the electricity used in the State of Illinois is in fact generated by using waste biomass generated by manufacturing operations.
From the exploratory work of the Spring 2008 IPRO 349 team, it has been confirmed that there is sufficient solid corn waste to provide a) cogeneration of energy to satisfy local rural needs on the basis of theoretical energy content as well as b) to generate corn-waste charcoal product to replace wood-based charcoal briquettes (see Fig.1 under XV. File Attachment). The IPRO 349 team has surveyed corn waste production, transport, compaction, conversion and environmental impact logistics.
As an exploratory project, IPRO 349 has developed an analysis suggesting that corn stover collected from a typical State of Illinois farm could provide a meaningful source of electrical energy for local demand. Industry contacts are identified with respect to sources of collection, compaction, cogeneration processes and equipment as well as related research work being conducted. Follow-up is needed to estimate practical process efficiencies, contact equipment providers and estimate the overall cost options. Ultimately this project would provide a basis for a possible approach to test the concept for a Spring 2009 IPRO project.
FASCE
FASCE - 21st Century Biomass Dryer and BioFuel Preparation | Ethanol Preprocessing
Website: http://www.fasc.net
DD: http://investorshub.com/boards/board.aspx?board_id=566
Dale, sounds like you've already said this, but was Bionic-Tonic definitely being sold at the event? If so, great marketing move, especially considering Scott Gray's victory.
Brian Nichols is the accountant? EOM
BionicProducts.com was registered in 2002.
http://who.is/whois-com/ip-address/bionicproducts.com/
They'd have to buy the domain first.
L2 please?... thanks (I only get 3 posts a day now)
Works for me, just takes a little while to load even with a somewhat high-speed connection.
As far as I know there are no plans for women's UFC (Ultimate Fighting Championship) and "Hear, hear!" I say to that. I hate women's anything, especially women's fighting.
Lady Pink is for the 'classy lady', and classy ladies don't waste their time participating in or watching female combat sports, IMO.
Frank Mir is my fav MMA fighter and TUF is a show I watch regularly. I'm really impressed with this decision.
I'd give Zecco a go if I lived in the U.S.
Thanks for the info, TR. Much appreciated. EOM
FASC now FASCE. EOM
My apologies to the BNPD board, I just assumed the website I posted was the correct one.
That's not the company's website, it's http://www.bwcconsulting.com/
zekel, your research (if accurate, and I have no reason to believe it's not) is second to none. These pennies are a cesspool. I keep dreaming I will find a stock that miraculously can make it. I'm quite confident GFET will never be such a stock. The irrational share volume is all I need to know this. (I've been in the pennies for 10 years and never have seen a stock trade like GFET.)
Mainly just wanted to say I'm impressed. And I'm only allowed 3 posts a day now (for pimping another stock across iHub) so for me to use a post thanking a stranger such as yourself, I really am quite impressed. :0)
Thanks TR. Does this means FASC does not even have to file an audited annual report?
Thank you very much TR. Am looking forward to hearing how long FASC has to file an audited annual report.
LOL TR.
Oh by the way, I'm limited to 3 posts a day now...so no more making me laugh, okay? :0)
Just got out of iHub jail.
MediuM, regarding the post http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32599915 I have no information on any of that.
Charlie, regarding the errors on the 10-K, I emailed off those errors and a laundry list of others to Cal.
To the mods and anyone else interested, I am in the process of updating the iBox.
No problem Abdul, I hope you find enough good about this company to want to pull the trigger.
There is a fair amount of shares, but there are no convertibles (never have been) and the dilution has quite been tame in recent years.
Please read the iBox at the FASC board and let me know what you think. IMO this stock has a lot going for it, considering the market cap.
Here is the link again: http://investorshub.advfn.com/boards/board.aspx?board_id=566
It's Neo Teck Seng, not Neo Teck Siong:
http://www.dnv.com/focus/climate_change/upload/mensilin%20pdd%20version%201%2015-01-07%20at.pdf
For those wondering what I'm talking about, this is the relevant PR:
http://fasc.net/news-view.php?nrid=48