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How are the Accounts Payable of $777,0000 going to be paid?
Simple question
Its all about betting on the MMs and their Paid Promoters. And as I said earlier, the Paid Promoters of ASFX are Horrible. The MMs are trying to support the PPS, but they can't last much longer. Same thing happen at SPNG, with the MMs trying their damnest to support at different levels.
A slow drop into HELL. Yesterday was a perfect example. A MM sold 4.8 million, but he made it look like a buy.
Such is life in the Pinkies.
And then Mint, look a little closer at what their other investments are all about. A real eye-opener.
You make it sound like ASFX has all the time in the world. They don't, because they're running out of cash.
So tell me Dr P, when are the Paybles going to be paid?????
There's a limit to "giving credit" in normal business operations.
It just can't keep going on and on and on. Vendors aren't that Stupid.
Sales are down 38%
http://www.sec.gov/Archives/edgar/data/1114605/000114420410068895/v206865_s1a.htm
AMERICAN SCIENTIFIC RESOURCES, INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
For the Nine Months Ended September 30, 2010 and 2009
(Unaudited)
Weighted average number of common shares outstanding, basic and diluted 1,924,839,940 (09/30/10) 1,022,422,946 (09/30/2009)
Did the ASFX "dilution" have anything to do with it?????
The OS went up like about 100%. Right????
Well Dr P, can you explain the 98% Crash since Oct 2009????????
Hmmmmmmmm
The Big Bump is from the ASFX Vendors. Their Bankers just "drop-kicked" out the door.
Happy New Year Mint
"On November 17, 2010, we sold 15,000,000 of our common shares to an investor for cash proceeds of $50,000, or $0.0033 per share."
Per Dec 8th, 2010 ASFX S-1a, page 40, para 6. Under "Subsequent Events".
I think this is called a "Conflict of Interest". and I'll bet the SEC thinks this is wonderful news.
Yeah, from 2004 to Sept 2009, SM sold 27,000 Units. So far in 2010, 2000 Units.
Lets Party.
I strongly disagree with that too, Dog
I strongly disagree DOG
I'm not betting MM. I'm investing. There's a difference.
I want to know what the SOB does all day, every day. The SEC wants to know too, and apparently you have no idea. Just as I thought.
the 35% partner was disclosed by Dr T, except he didn't say WHO
So tell me MM, so if Roth isn't full-time, then where is he everyday?????
hmmmmmmmmmmmmmm
Any clue MM, why the uplisting is taking so long?????
This SEC monthly rejection, is starting to look like a "WARNING" to all investors. Just an opinion, but it does look very strange.
Its "Who is Roth's 35% partner?
Not "was"
Any comments on the $10,000 in net fixed assts MM???????
It appears these computers might be obsolete. Seriously, how does one run a business with this infrastructure??????????
You missed Dr T's disclosure about the "Conflicts of Interest" MM?????
You're kidding, right??????
Per Dr T
"No member of management is currently required by us to work on a full time basis, although our Chief ExecutiveOfficer currently devotes fulltime to us. Accordingly, certain conflicts of interest may arise between us and our officer(s) and director(s) in that they may have other business interests in the future to which they devote their attention,"
How about that MM!!!!!!
Gotta love that $10,000 in net fixed assets Mint. Obsolete computers I guess, yet ASFX spent a $1,000,000 on professional services.
Nice allocation of resources. The ever-changing medical field, no less.
Apparently I have RIGHTS!!!!!!!! No kidding.
From the SEC website:
"The world of investing is fascinating and complex, and it can be very fruitful. But unlike the banking world, where deposits are guaranteed by the federal government, stocks, bonds and other securities can lose value. There are no guarantees. That's why investing is not a spectator sport. By far the best way for investors to protect the money they put into the securities markets is to do research and ask questions. (The SEC Loves ME)
The laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. To achieve this, the SEC requires public companies to disclose meaningful financial and other information to the public. This provides a common pool of knowledge for all investors to use to judge for themselves whether to buy, sell, or hold a particular security. Only through the steady flow of timely, comprehensive, and accurate information can people make sound investment decisions."
Its all about DISCLOSURE.
Why does a Ukraine Investment Banker, with an offices in Bermuda, have control over the ASFX Board of Directors?
What is the "Conflict of Interest" between Roth and ASFX?
What is the conflict of Interest between BOD members and ASFX?
Simple questions, but maybe thats why there will never be an uplistiting. The SEC just doesn't want to get involved.
This isn't just a rejection by the SEC, its a WARNING (JMHO)from the SEC to all current and potential investors of ASFX.
Sections 1.3.4 and 1.3.5. of the SM/ASFX Sales Agreement. Clear as day MM. Except for the part about "Concorde Capital Ltd", a Russian Investment Banker from Ukraine, with an office in Burmuda.
And, of course, the "Conflicts of Interests" and "full-time" status of Management. Dr T discloses he's the only full-time member of Management and that other members of Management have Conflicts of Interest. No word as to the Conflict of Interest, BUT there was no word about "Concorde Capital Ltd" either. Maybe the S-1a is complete BS MM.
And then there's the the "Fixed Asset" disclosure. ASFX has a whole $10,000 of Net Fixed assets. Big time Infrastruture MM.
Maybe they can't buy the latest up-to-date stuff for their medical business. The old stuff is still good, Maybe. But we have to spent a $1,000,000 on professional services associated with "whatever".
SM is providing everything to ASFX, and stands to make serious cash if capital can be raised from the investing Public. ASFX doesn't even have to sell ONE NDD. Roth and his buddies at SM and "Concorde Capital Ltd" now control ASFX.
Would love to know who is Roth's Silent 35% Partner is, and why not ONE word about him. The SOX regs were passed for a very good reason MM, its called DISCLOSURE. The more the Better.
It will be interesting to see if the current auditor is still on the job. The next S-1a will disclose that info.
I wonder why Roth's hand-picked CFO left, about when the "The Russian Connection" news came to light.
The auditors will be wondering too!!!!!
Can't wait for the Annual Shareholders' Meeting.
Thats illegal. There should be a PR issued concerning the Roth's relationship with Concorde Capital Ltd, the Russian Investment Bank with offices in Russia and Bermuda.
If there's no relationship, than a PR hurts no one. But Concorde Capital does have control over the Asfx BOD Per (Sec 1.3.4), so the "Concorde Capital Ltd" relationship should be fully disclosed to the shareholders.
But, of course, if he's hiding something, Roth will not say one thing to the shareholders.
A PR would be a very simple thing.
Because I'd like to talk to Roth about the Russian Investment Bank, Concorde Capital Ltd. They have a Burmuda office too.
And why they were part of the SM/ASFX Sales agreement and why they were given control over the Board of Directors. (per SEC 1.3.4)
And if Concorde is Roth's 35% partner at SM???? Someone is, would just like to know exactly WHO that is at the moment. SM is running the ASFX operations now, so it should be disclosed.
But its not, not one word about it.
So when, and where is the Annual Shareholders' Meeting?????
Is ASFX refusing to Comment on that too?????
And the state laws regarding NON-SEC audits. NJ has passed such a law, along with 29 other states. Outside control of BOD is BIG SOX problem.
I wonder why the CFO resigned when "The Russian Connection" came to light?
Another coincidence, I'm sure.
Investment bankers (Concorde Capital)and Management (Roth) are a HUGE Post Enron NO-NO.
They control everything.
Enron Brother
Read the sales agreement between SM and ASFX. The agreement was written in such a way, that it APPEARS DR T is buying a worthless SM product for $2.6 Million.
What Dr T really did was turnover complete control to Roth and his buddies at Concorde Capital. For NOTHING.
And Roth has run it into the ground.
The question is WHY??????
Again MM, No disclosure by Roth concerning "Concorde Capital Ltd". THE SEC is going to be happy about this matter. Don't worry, I'll fired off another email to them.
And his email to DOG, looks a little silly now.
I actually think "Concorde Capital Ltd" is Roth's 35% "Silent Partner".
Merry Christmas!!!!!!!!
"each time it mentions Concorde it has (Bermuda) in parenthesis"
A Coincidence I guess MM
Fact 4. Can you prove the Bermuda location via independent research
Fact 5. Your use of "Likely", is the problem.
Fact 6. Disagree, the Russian Connection controls.
Fact 7. DD is imporant huh, then why say "Who cares" for Fact 8???? Same with 9.
Fact 10. Because there's a conflict of Interest between Roth and ASFX. Just how "part-time" is Mr Roth???? And absolutely nothing about his Partner.
Fact 11. Then why haven't the filings been updated????
Fact 14, There's nothing on Roth or Taylor, except Roth started at age 16.
Fact 18 - the S-1a
Thw latest concerning Part-timers in management. Nov 15th 2010!!!
“No member of management is currently required by us to work on a full time basis, although our Chief Executive Officer currently devotes fulltime to us. Accordingly, certain conflicts of interest may arise between us and our officer(s) and director(s) in that they may have other business interests in the future to which they devote their attention, and they may be expected to continue to do so although management time must also be devoted to our business.”
Notice how only says “although our Chief Executive Officer currently devotes fulltime to us.” So what the heck is Roth doing everyday, and what are his priorities. The NDD is a total FLOP. 2000 Units are joke. Sitting on 3000 units in inventory. He averaged 5,000 per year at SM. Cash flow is HORRIBLE. Hell, Dr T wouldn't even disclose the Revenue makeup, except that the 129,000 were from written-off 2009 sales. $450,000 for 9 months is a JOKE. What is everyone doing in OHIO????? Working somewhere else, thats what!!!!!!!!!!!
What makes you think Roth will stick around????? He’s got other business interests, and he just completed his first year with record losses. ASFX can’t provide him with any cash to work with Sir.
He can walk anytime he wants,. And he’s surrounded by Russians, just a wee bit to many just for it to be a Coincidence. I’ll bet Roth speaks Russian too. Why did ASFX hid the fact that Reznicks speaks Russian. They “cut and pasted” his Bio from his website, word for word, but failed to note the “speaks fluent Russian”. It’s a joke. What the hell are they hiding????? "Italian" was ok, but not Russian.
As always Mint, I only seek the TRUTH. This Russian Connection is very Strong.
There's Assets and Liabilities. The assets will be sold, at a favorable price to the BUYER. The sales proceeds will be used to pay the ASFX creditors. Its a done deal.
You're confused because I never said "no tangible assets". Their Balance Sheet is a POS, because of the liabilities.
I hope that helps
One Conclusion, based on 20 FACTs.
Fact #1 – Reznick has an office in Ukraine (his bio on the ASFX website, is the same as the “bio”on his business website. Except for the “he speaks fluent Russian”. ASFX left that out on ASFX website
Fact #2 – he speaks fluent Russian (Per Reznick website)
Fact #3 – Dr. Thomas W Materna, an ASFX director, “has also served on BOD at Dezomark, a medical company in Lviv, Ukraine. (Per ASFX SEC Filings).
Fact #4 – “Concorde Capital Ltd” is a Company in the Ukraine. (per their website)
Fact #5 – “Concorde Capital Ltd” was involved with the SM/ASFX Patent sale. (per Patent sales agreement)
Fact #6 – Per Sec 1.3.4 of the SM/ASFX Patent sales agreement, Jason Roth and “Concorde Capital Ltd” both have control over ASFX BOD.
Fact #7 – Howard Taylor and his Bermuda “Concorde Capital Ltd” can’t be located via independent research.
Fact #8 – Howard Taylor no longer has a contract with ASFX and was removed from the S-1a in the Fall of 2010. He was as a Financial Consultant, and he longer is engaged with ASFX. (Per Nov and Dec 2010 S-1a).
Fact #9 - “Concorde Capital Ltd” is not disclosed in latest S-1a.
Fact #10– Roth has a business partner at SM. No disclosure as to who this is and where he lives.
Fact #11– Roth is not a full-ime ASFX employee. (per Filings)
Fact #12 – Officers and directors have “conflicts of interest” with ASFX. (per Filings)
Fact #13– No disclosure as to what these “conflicts of interests” are all about. (per Filings)
Fact #14- Information on Roth from independent sources is unavailable. That makes two, Roth and Talyor.
Fact #15- Alexander Goldin is a Russian Chess Master living in the USA.
Fact #16- Alexander And Mira Goldin control Gols Associates, the sole selling shareholder in the S-1a.
Fact #17– Gols Associates has lost about $5,000,000 on their 90 Million shares in the past year.
Fact #18 – Alexander and Mira want out of ASFX.
Fact #19 – The CFO Is GONE, with no explanation from Management.
Fact #20 – ASFX has no liquid assets to pay AP, much less debt. Per Sept 2010 Balance Sheet.
Conclusion: It appears that when ASFX files for Bankruptcy, the BOD and their Russian contacts will purchase the ASFX assets and move everything to the Ukraine. Dezomark and their "sister" companies will be more that willing to buy these assets at very favorable prices.
You have to understand the Russians. They buy only from their Companies and enterprises. So if the 5 in 1 was a USA product, they wouldn't buy it. But if it was owed by Dr M's company, the product would sell. It would just become a small part of their overall line of medical products. Same with the NDD.
Bayer has only purchased about 5,000 Units per year, with only 2,000 in 2010 (ASFX has 3,000 Units sitting in inventory, minus any internet sales). Thats about $150,000 for 2010, and $400,000 tops, going forward. Maybe a $200,000 gross profit at best, on a recurring basis. Thats why the patent value of $2,600,000 is a joke, and the whole SM/ASFX deal a simple "P&D". They got 3 of them in 9 months. But not now, investors don't trust them. The "no PRs" BS is hilarious.
Bottom line regarding Bayer, they just buy from the Russians.
When I have time, I'll research Bayers true intentions regarding Russia taken as a whole. I'm sure they would love their products selling in Russia.
JMHO, but it makes perfect sense
So one could assume, that with two out the 3 Directors speaking "fluent Russian", that maybe, just maybe, that the third director (Jason Roth) does too.
In addition, one could assume that if two directors have contacts in the Ukraine, then the third does too.
And its this third director, Jason Roth, that has a contact with "Concorde Capital Ltd", also located in the Ukraine.
Now if you visit Reznick's website, he has an office in Kiev, Ukraine and he states (in his bio) he speaks fluent Russian. The SEC filings state Dr. Thomas W. Materna "has also served on the Board of Directors at Dezomark, a medical company in Lviv, Ukraine." He MUST speak fluent Russian.
And we know nothing about Mr Roth and his business partner(s), the 35% guy (again as stated in the filings).
And all you have is an email and a set of Bankrupt Finanical Statements.
It appears that when ASFX files for Bankruptcy, the BOD and their Russian contacts will purchase the ASFX assets and move everything to the Ukraine. Dezomark and their "sister" companies will be more that willing to buy these assets at very favorable prices.
JMHO Dog, but it makes perfect sense. Bayer can just as easily buy from Dezomark. They don't care.